The head of Queensland Investment Corporation’s $12 billion implemented equities program left suddenly on Friday.
Greg Liddell departed in what QIC chief executive, Doug McTaggart, described in a note to staff as "part of our continual process of assessing investment programs".
McTaggart was overseas and unavailable for comment to I&T News on the future of QIC’s implemented equities platform, which is said by some observers to be a cost pressure on the group.
Since joining QIC from Mercer in 2004, Liddell has overseen the introduction of alpha-beta separation across all of the implemented equities portfolios (a process still ongoing), and also introduced after-tax management at the behest of major client, QSuper.
Liddell has been replaced on an interim basis by Greg Clarke, the head of implemented international equities.
Jim Christensen, QIC’s joint head of active management with Susan Buckley, retains overall responsibility for the implemented equities portfolios, reporting to McTaggart.