Austock Asset Management (AAM) co-head of Australian equities Dennis Tighe has left the group after failing to agree on how the business should be restructured.
"We were having discussions but reached an impasse on how to structure the group going forward and mutually agreed that Dennis should move on," Austock Group general manager Tim Boyle said.
The move follows a number of high-profile departures from AAM in the past year, with former managing director Sam Rist leaving the industry in January, while head of institutional distribution Michael Negline left in 2006 to join RCM as country head.
A search is on for an equities analyst based in Melbourne to join the team.
Austock said having the Australian equities team based in Melbourne would consolidate the team's research focus.
Tighe joined AAM in January 2004 and has more than 30 years' experience in the markets, including spells at Dresdner RCM and Bankers Trust Australia.
Silvio Gasparet will continue as head of Australian equities, while Doyle Mallett, portfolio manager of the Austock high-yield fund based in Sydney, will oversee macroeconomic input.
