Adriaan Ryder, chief investment officer of QIC, has resigned from the $78.8 billion fund and accepted an investment leadership position with a major Middle Eastern investment fund.

As a result of Ryder’s decision, Jim Christensen will now be responsible for managing the Queensland government’s long-term assets as part of his role of managing director of global multi-asset team.

Other aspects of Ryder’s role and responsibilities will be allocated to a number of senior QIC executives over the next few weeks.

Over the past year, Ryder and Damien Frawley, chief executive of QIC, worked closely on the global multi-asset (GMA) team’s succession planning, which culminated in the appointment of Christensen as managing director of the global multi-asset team at the end of 2015.

Ryder had previously been the head of the GMA team and more recently focused on strategic level investment advice with the Queensland government and relationships across the global sovereign wealth fund and public fund communities.

Frawley acknowledged Ryder, saying: “Adriaan made a significant contribution to QIC and a number of key clients through his focus on the fiduciary management function of the Queensland government’s retirement assets as well as by deepening our sovereign wealth fund networks.”

“He leaves with our appreciation for his achievements and best wishes for the next stage of his career.”

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