Greg Clarke resigned as head of implemented international equities at QIC late last week, just seven months after assuming the post.
Mr. Clarke left, just a day after two of his team members portfolio manager Kevin Wan Lum and senior analyst Raymond Perina resigned.
Replacing Mr. Clarke is Aongus OGorman, who had been running the implementation and risk management functions of the implemented solutions business while Mr. Clarke had overseen research and portfolio management.
Tony Cahill, head of client solutions at QIC, said the resignations were all voluntary.
He said Mr. OGorman would now oversee completion of the merger of the absolute returns and international equities businesses into the single implemented solutions business. That business will have five lines portfolio management, manager research, implementation, risk analytics and client solutions, and accounts for A$10 billion (US$ 7.97 billion).
In a note to QIC staff Friday, Chief Executive Doug McTaggart mentioned the departures of Messrs. Clarke, Wan Lum and Perina in the context of Project Galaxy, QICs ongoing review of our organizational structure (to) position ourselves to meet the challenges ahead and take advantage of emerging market opportunities.
Michael Bailey is a reporter with Investment & Technology in Sydney.