Frontier Advisors’ CEO to resign at end of year

Damien Moloney, CEO of Australian investment consultant Frontier Advisors, will resign at the end of December, the Melbourne-based firm announced on its website Tuesday.

The announcement was made by Gabriel Szondy, chairman of Frontier Advisors, who said in a statement that Mr. Moloney "has succeeded in the task he was set by the board. Damian believes that, as his brief has been achieved, it is now time for someone else to apply his or her vision and take the firm further."

Mr. Moloney has been CEO of Frontier Advisors since July 2011. The board has hired an executive search firm to assist in seeking a replacement, the posting on the website said.

Officials at Frontier Advisors were not available to provide further information.