Murphy, who headed research in Australia and New Zealand for the US-headquartered company is leaving after 17 years with the firm.
Morningstar Australasia said it had made an organisational change to align its manager selection and portfolio management capabilities.
"Under these changes, we will be transitioning our Australian manager selection team, which has sat within our manager research group, into Morningstar’s investment team, which is responsible for our capital markets, asset allocation, portfolio construction and managed portfolio activities," global head of manager selection Grant Kennaway said.
Leading the investment team is its Asia Pacific chief investment officer Matt Wacher.
Morningstar managing director Jamie Wickham said that the intent of the change was to create a single team under Wacher.
"As part of this change, we mutually agreed with Tim Murphy that now was the right time for Tim to take on a new challenge and he will be leaving Morningstar immediately," Kennaway said.
"Tim is a veteran of our business and was instrumental in the growth of our research capabilities, business, and brand in Australia and New Zealand."
Murphy joined Morningstar as a research analyst in 2005 and since February 2016 was director of manager research.
Annika Bradley will continue to oversee the qualitative research and ratings on Australian and New Zealand fund managers.
"Bradley and investment team under Wacher have a deep bench of experienced researchers and investment professionals with long Morningstar tenure and industry experience. Tim Murphy’s responsibilities will be absorbed by the existing team," Wickham said.
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