SFG Australia's CEO cites health reasons for temporary leave of absence.

SFG Australia, the financial advisory and wealth management firm formerly named Snowball Group, has announced that one of its senior executives will be leaving the firm temporarily for health reasons.

In a statement on the Australian Securities Exchange, SFG said that managing director and chief executive Tony Fenning left on 23 December 2013 and is expected to return in late January 2014. The exact reason for his temporary departure is unknown.

Meanwhile, John Cowan, chief operating officer, has stepped in as interim CEO. Cowan has been with the company since May 2012, having moved from Crowe Horwath Australasia where he was head of financial services.