Justin Wood has stepped down as chief executive of Barclays Global Investors (BGI) in Australia to focus on research and strategy instead.
Wood remains at BGI but will instead lead research initiatives on retirement issues and head the Strategic Solutions and Client Advisory Group for the firm's Australian business.
According to BGI it was Wood himself that chose to move on after six years as chief executive in Australia.
He will be replaced by Morry Waked who becomes responsible for BGI's overall business in Australia, combining the chief executive and chief investment officer jobs.
Waked joined BGI Australia as head of equity investments in 1997. He will continue to report to Blake Grossman, global chief executive of BGI.
"Our strategic focus on Australia will continue under Morry's leadership and we will continue to expand our resources and talent base in order to ensure we are always well positioned to meet our clients' investment needs," Grossman said.
"We are committed to extending our market leadership position in risk-controlled, highly efficient investment strategies for our clients in Australia, New Zealand and throughout the region."
The changes are effective from March 31.
