Former Challenger CEO joins Barrenjoey

Barrenjoey Capital Partners is a new full-service financial services firm being supported by significant investment from Magellan Financial Group and Barclays.

Former Challenger CEO and managing director Brian Benari will take on responsibilities as chief executive officer. He's joined by former UBS chief Guy Fowler as executive chair.

"Barrenjoey is unique as a 'local global', offering a nimble, aligned and entrepreneurial approach through staff ownership, paired with the strength and reach of a global institution, through our partnering with Barclays," said Benari. "It offers the best of both worlds and is a fresh compelling alternative for both clients and staff."

Benari retired from Challenge in 2018 after more than 15 years with the organisation, holding roles including chief financial officer and chief operating officer. He was named managing director and CEO in 2012.