Perpetual Australian share portfolio manager John Harbot has exited the firm, leaving Matthew Williams to take on full responsibility for managing the strategy.

Harbot and Williams each managed 50 per cent of the Perpetual Wholesale Australian Share Fund and Perpetual Wholesale Geared Australian funds, and Harbot had lead analyst responsibilities for a number of Australian listed companies.

Perpetual said Harbot has left the firm 'by mutual agreement', but did not give any further details of his departure.

The firm did not say whether it would seek to replace Harbot.

In total, Perpetual managed more than $19 billion in Australian equity assets of which about $3.5 billion is invested in the Wholesale Australian Share fund, according to data from Morningstar.

Williams and Harbot have been leading the Australian share fund since 2007, after taking over from head of equities John Sevior.

Harbot joined Perpetual in 2006, initially as a small caps portfolio manager.

He previously worked as a small caps analyst at Austock Brokers and Lodge Partners, while he also had operations and business roles with Toll Holdings, ICI and Pacific Dunlop.

Perpetual has also increased the portfolio management responsibilities of Charlie Lanchester for the Perpetual Wholesale Industrial Share fund from 30 per cent to 50 per cent, with Williams managing the other 50 per cent of the fund.

Williams previously managed 70 per cent of this portfolio.