Quirk leaving Milford role

Milford Asset Management has announced managing director Anthony Quirk has signalled his intent to leave his role, however he will stay involved in the business.

Thursday, March 24th 2016, 12:26PM

He will remain a non-executive director and shareholder of Milford.

“I have reached an age and stage in my career where I am looking to change my focus from an executive position, to a portfolio of interests including board and other non-executive roles,” Quirk said.

“The timing is optimal for both me and the company, with Milford being in a very sound position with real momentum in the business. This is reflected in recent achievements such as: A strong share of investment industry inflows, as recently confirmed for the December 2015 quarter, the successful implementation of the market-leading Charles River investment portfolio management system, and the 2016 Morningstar KiwiSaver Fund Manager of the Year Award, won for the third time last month.”

Quirk said the company had recently confirmed a set of strategic objectives that would require a commitment of at least five years.

“A new incumbent will be in a position to provide that level of commitment.”

Quirk will continue in his role while the search for his replacement progresses, to help with the transition to the new appointee.

Quirk said “a smooth transition is important to me but doubly so as I will remain closely involved with the company. I am very proud of the numerous achievements of Milford over the past nine years and am very excited about the future for me and for the company.”

Milford chairman Mark Cross said: “We respect Anthony’s decision and recognise his huge contribution to the success of Milford over the past nine years. We will welcome his continued involvement as a Non-Executive Director and a significant shareholder.

“A change at this level presents Milford with an opportunity to bring in a new perspective and we are initiating a local and international search for a replacement. We’ll be looking for this person to drive the business to achieve our agreed strategy over the next four-to-five years.”

Tags: Milford Asset Management