Colonial First State Global Asset Management (CFSGAM) deputy chief executive Neil Cochrane will retire this year.

Cochrane began with the firm in June 2006 to spearhead the company's institutional business development.

He joined CFSGAM from industry superannuation fund REST where he was chief executive. He had worked at REST for five years.

"I am saddened about Neil Cochrane's decision to retire this year, and grateful to Neil for remaining with the business throughout the transition to our new global structure, to ensure it is successfully implemented," CFSGAM chief executive Mark Lazberger said

His departure has prompted a review of the firm's structure across its Australian and Asian operations.

Head of business development in the United Kingdom and Europe Michael Stapleton has been hired as regional managing director of Asia and Japan.

The Asian and Japanese businesses will be brought together under one region that mirrors a similar structure that the firm is adopting in Europe, Middle East and Africa (EMEA), which will also operate under a single leadership, according to statement fromthe group.

Following the departure of the group's chief executive for the UK Charlie Metcalfe, Stapleton will also act as the regional managing director for EMEA until the role can be filled.

"The new structure streamlines the management of our international business and supports its future growth, in line with our stated strategic objectives," Lazberger said.