Westport Resources, a Westport-based independent investment firm, recently made changes to its leadership structure, including the elimination of the role of president.

To assume the responsibilities of the eliminated position, the firm's board of directors created three new roles -- chief administrative officer, chief operating officer and director of sales practice compliance -- according to a release from the firm.

Jeffrey Sargent, the firm's chief compliance officer, has been promoted to also serve as the chief administrative officer, and Timothy Looney, the firm's chief financial officer, has been promoted to also serve as the chief operating officer, the release states. Both roles report directly to John Adams Vaccaro, the firm's founder and chief executive officer.

Susan Roth, who held several important roles at the firm over a nine-year period until early 2011, has returned as director of sales practice compliance and will report to Sargent.

In addition, Nick Squitieri, who joined the firm in April 2011, will continue in his role as director of operations and report to Looney.

Sargent, of Trumbull, came to Westport Resources in July 2009 from New York City-based investment advisory firm Robotti and Co.

Looney, of Milford, joined Westport Resources in October 2008 after serving as chief financial officer and chief compliance officer with Stock USA Investments/Speedtrader.com.

Roth, of Milford, Westport Resources' director of operations for from 2008 until early 2011, was previously a client relations manager for the firm's private client group.

Squitieri, of Ridgefield, came to Westport Resources after an 18-year career as an institutional fixed-income specialist, primarily in municipal bonds.