The investment manager has appointed a new CFO with substantial wealth experience from Westpac’s senior ranks.
Rachel Grimes joins Challenger from Westpac, where she is currently general manager for finance and has held a number of other senior roles, including director of M&A. She has “substantial experience” in wealth management and the life insurance sector and a “proven track record of leadership”.
“Rachel brings an outstanding track record as a leader in her field with significant experience as a technical and commercial finance executive,” said Challenger managing director and chief executive Richard Howes.
“Her in-depth knowledge across wealth management, life insurance and banking, as well as experience in financial controls, governance and transformation programs will support our continued focus on strategic growth initiatives, including the integration of the MyLife MyFinance bank.”
Ms Grimes was the president of the International Federation of Accountants from 2016 to 2018 and is a director on the accounting professional and ethical standards board. She has also held the role of head of product and sales for BT Life and was head of the executive office and senior manager for special projects at BT Wealth in the early 2000s.
She replaces Andrew Tobin, who is stepping down after 13 years with the company.
“Andrew has been a key member of our executive team for nine years. His deep financial capability and steadfast leadership presence have helped Challenger navigate significant change in our business and operating environment,” Mr Howes said.