BT Funds Management head of Australian equities Rohan Hedley has resigned after 13 years with the group.
Hedley's departure comes after a year of bad performance figures for BT's Australian equities funds, which was one of the reasons Morningstar downgraded BT Australia earlier this year.
Hedley was responsible for managing BT's flagship Equity Imputation fund for the past 10 years. While the fund had grown to be one of the biggest in Australia, and it had an enviable long term track record, recent performance has been poor.
Hedley was also involved in the merger of the retail and wholesale equity teams at BT as well as the subsequent combining of the international teams.
A replacement has yet to be announced. BT's Australian share portfolios will be managed by the head of Australian small companies Frank Villante until a replacement is found.
Late last year chief investment officer Andre Morony left the group.
