Harding wants to pursue other interests, including non-executive board seats. His departure is considered unfortunate as Colonial has lost a number of key staff since July last year.
Harding will continue in a consulting capacity for another 12 months.
"The main message is we have a contract with him for one year where he's an adviser to us and he won't be going to another funds management organisation in that period," Colonial First State's general manager of investments, David Dixon, said.
Harding took the top job last year after the eparture of the highly regarded Greg Perry.
Simon Shields has become head of Australian equities, while Simon Hudson, who comes from the old Commonwealth Bank funds management fold, will take over the portfolios managed by Harding.
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