The $17 billion Australian Reward Investment Alliance (ARIA) will have a new portfolio manager for property and private equity next week, following the departure of Briar Dowsett to National Australia Bank Capital.

Dowsett has joined a group structuring products around unlisted assets bought on NAB’s balance sheet. It is understood a replacement for Dowsett will start next week at ARIA’s internal investment team, which is still without a permanent leader following the departure of Andre Morony last year. Dowsett’s replacement is understood to be an Australian returning from a role at a private equity firm in the US. Dowsett was one of several BT Financial Group fund managers who followed Morony to ARIA in 2001. Morony’s chief investment officer role is being filled temporarily by ARIA chief executive Steve Gibbs, who was unavailable for comment at presstime.