BlackRock Australia has hired Justin Arter as its country head.

Arter replaces Damien Frawley, who joins Brisbane-based Queensland Investment Corporation on July 1. Arter announced on May 18 his departure after two and-a-half years as chief executive of Victorian Funds Management Corporation. He did not specify what company he was going to work.for. Arter also worked at Goldman Sachs for 18 years.

VFMC says the fund’s chief investment officer Justin Pascoe will be acting chief executive at the $36.8-billion asset manager while a search is conducted for a new CEO.

BlackRock did not make Arter available for comment.