QIC will merge its Australian and International implemented equity teams following the departure of head of Australian implemented equities Martin McComish.

John Gethin-Jones, QIC head of global equities said the underlying synergies between the two teams were very similar and that the step was a logical one. McComish will leave at the end of the month but has not revealed the name of his new employer. He will not be replaced but current equities analyst Stuart Birkett will become portfolio manager, Australian equities and QIC is also in the process of recruiting a quantitative resource. In Australian equities QIC continues to pitch for external mandates, following the success of the launch of a small caps capability last year, which was seeded by Hesta.