The board of Frontier Advisors has "reluctantly" accepted the resignation of chief executive Damian Moloney, engaging an executive recruitment firm to search for his replacement.
Mr Moloney, who has been the chief executive of the superannuation asset consultant since July 2011, will leave Frontier in December 2017 and has "yet to decide on his next move", according to a statement by the firm.
Commenting on the departure, Frontier Advisers chairman Gabriel Szondy said Mr Moloney had transformed the business from a "successful advisory practice" with a stable of industry fund clients into a "more dynamic and sophisticated financial services consulting practice".
"There is absolutely no doubt Damian 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 Szondy said.
“The board expresses its gratitude for Damian’s magnificent contribution to Frontier and its clients. The specific enhancements and initiatives Damian has piloted through the business, along with his strategic vision and implementation thereof, have rebuilt Frontier into the leading asset consulting business operating in the Australian investment landscape today.”
