Magellan Financial Group (ASX: MFG) said Chief Financial Officer and Chief Operating Officer Kirsten Morton resigned, according to a Wednesday filing with the Australian bourse.

Morton will continue in her role until the end of the year.

The board will start a search process for Morton's successor, the filing said.

The company's shares fell almost 4% in recent Wednesday trade.

Price (AUD): $10.22, Change: $-0.40, Percent Change: -3.77%