Institutional investment manager QIC has announced its long serving CEO Dr Doug McTaggart will depart the company as of 30 June 2012 after 14 years at the helm of the company.


Chairman Peter Young expressed his gratitude for Dr McTaggart’s contribution to the company, saying that under his tenure QIC has grown significantly to become one of the largest and most successful institutional investment managers in Australia, with $60.2 billion in funds under management.


QIC is looking forward to continuing to leverage Dr McTaggart’s industry expertise and reputation, in an advisory capacity, post June 30, 2012.


QIC has appointed international executive recruitment firm, Korn Ferry, to undertake an extensive global search in order to secure an appropriate replacement.