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Investment manager CEO announces retirement

The ASX reporting wrap-up: Challenger, Megaport, James Hardie

US retirement firm acquires 15% stake in Challenger

“We look forward to working with Athene and Apollo as we continue to pursue our shared purpose of providing customers financial security for a better retirement,” he said. Athene chief executive, Jim Belardi, said: “Together we believe we can help Challenger continue to build long-term value, similar to what we’ve been able to achieve in building Athene’s business in the US and supporting the growth of our sister company Athora in Europe, where we are also minority shareholders”. The acquisition followed Athene’s pending agreement to merge with Apollo. It said entering the Australian market was part of its strategy to be a global solutions provider and followed business initiatives over the last two years in the UK and Japan.

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