Carolyn Hewson, non-executive director at BT Investment Management in Australia, stepped down from the money manager's board to take up a role investigating the country's financial system, according to a news release.
Ms. Hewson was appointed to the board in 2007 and was also a member of the manager's audit and risk committee.
She will join a panel established by the government to review Australia's financial system. The new appointment means Ms. Hewson would be unable to continue with her role at BTIM.
“The opportunity to participate on the panel inquiring into Australia's financial system was one that I could not refuse,” Ms. Hewson said in a statement. “Unfortunately, in accepting the offer from the treasurer, I had to make the difficult decision to resign from my board role at BTIM.”
BTIM manages A$58.3 billion ($51.7 billion) and is majority owned by Westpac Group.
The inquiry panel will look at how to more efficiently allocate Australian-sourced capital to minimize exposure to volatility in global capital markets, among other issues.
A spokeswoman for BTIM was not available to comment by press time.
