Matt Gaden will move from Challenger to Henderson Global Investors as the dual-listed fund manager seeks to re-establish its Australian business.

Gaden will move from his current role as general manager of institutional business and strategic alliances at Challenger to join Henderson Australia’s executive chairman, Rob Adams, and executive director, Nick Evans, as head of distribution.

Gaden has been with Challenger since 2003 and prior to that was with First State Investments in the UK and at Colonial First State, where he ran the retail business development team.

“I’m feeling a healthy tension as I contemplate the new role,” Gaden, pictured right, told I&T News.

“There’s a lot of heritage there with the brand, but there’s also something of the start-up about it, so both of these elements are attractive.

Describing Henderson as a “pure-play funds business,” Gaden said it was exciting to be “working with a clean sheet and building a business almost from scratch.”

However, unlike some start-ups, Henderson Australia enjoys very solid backing and is committed to the Australian market. Henderson Global Investors manages around $100 billion for clients in Europe, the Asia-Pacific region and North America.

In a statement issued after Gaden’s departure, Challenger said that “nine years with one company was a long time” and the firm was “pleased he’s found a start-up opportunity to his liking”.

Paul Rogan, chief executive of distribution product and marketing, will take on Gaden’s duties while Challenger embarks on a search for his replacement.