First State Investments, also known as Colonial First State Global Asset Management in Australia, has reshuffled its property team as its head, Andrew Nicholas, has left the firm to pursue other opportunities.

Nicholas has been with First State for six years and the next destination in his career is unknown at this stage.

Stephen Hayes, based in Sydney, has been appointed as new head of property securities. Hayes first joined the company in 1999, but left for Perennial, a Sydney-based investment firm, in 2006.

David Dixon, chief investment officer at First State, said in a statement that the property team will continue to have team members in London, New York and Hong Kong.

In other recent news at First State, the firm bolstered its global resources team in July with the addition of Peter Mangano as senior analyst.