Colonial First State Global Asset Management chief executive Warwick Negus is to step down following the completion of his three-year contract on June 1.
Negus, who last year made a $10 million cornerstone investment in boutique equities manager Falkiner Global Investors, will continue to work with the group on a consulting basis for a further 12 months.
"I have enjoyed my time in the Commonwealth Bank as I have been able to drive changes that have positioned the Colonial First State Global Asset Management business to meet the challenges and opportunities presented by this dynamic industry," Negus said.
"As the bulk of this transformation is now complete, I want to focus on new business ventures."
Commonwealth Bank Wealth Management group executive Grahame Petersen said Negus had taken the business to a new level.
"We are now in the fortunate position to have a highly skilled leadership team which will be able to continue to refine and embed the strategy for the funds management business," Petersen said.
