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Frontier Advisors' Client Poaches CEO, New Leader In
Andrew Polson will replace Damian Moloney, who is leaving to run AustralianSuper's European office.
Australian investment consultant Frontier Advisors has found a new chief executive to replace outgoing CEO Damian Moloney.
Andrew Polson, a general manager at Australian financial services group MyState Limited, will join the Melbourne-based consulting firm as CEO in May, according to the firm.
"Andrew has considerable experience in both strategic development and operational management within the investment and wealth management sectors," Frontier Advisors chair Gabriel Szondy said in a statement. "We believe he will build on the firm's current strong position and identify new opportunities to lead the firm toward."
The announcement comes two days after A$130 billion ($100 billion USD) retirement fund AustralianSuper announced that it had hired Moloney as its new head of European investments, a role he starts in April. AustralianSuper is a major client for Frontier, which is one of two primary consultants serving Australia's largest retirement fund.
Moloney had been chief executive at Frontier Advisors since 2011.
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He isn't the only Frontier Advisors employee to get poached by one of the country's superannuation funds in recent years. Senior consultant Leigh Gavin left in 2016 to join LUCRF Super as head of investments. Two years before, senior consultant Michael Wrysch left to become CIO of Vision Super.
Moloney will relocate to AustralianSuper's London office in early 2019 for his new role, which will entail overseeing the development of the superannuation fund's offshore investments platform. AustralianSuper CIO Mark Delaney said Moloney would provide day-to-day leadership for the fund's London investment team.
"With nearly half of AustralianSuper's member assets now invested overseas, it is very important that we have a local presence in markets where we are investing," Delaney said in a statement.