About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Wednesday, November 13th, 4:35PM
rss
Latest Headlines

Milford succession plans continue as Gaynor dials back day-to-day management

Milford Asset Management's succession plans are continuing as its high-profile investment head Brian Gaynor steps back from the day-to-day management of the fund manager and acting chief executive Mark Ryland has been appointed permanently.

Thursday, March 7th 2019, 8:00AM

by BusinessDesk

Brian Gaynor

In a note to clients, Gaynor announced Ryland's permanent appointment, citing the new CEO's involvement in leading the fund manager's "most important projects". Ryland joined Milford in 2014 as head of risk & compliance and shifted to head of products & operations three years later.

That period covered the market manipulation investigation and civil case against former Milford portfolio manager Mark Warminger. The fund manager settled with the regulator, paying a $1.5 million penalty, accepting there was inadequate oversight following a rapid period of growth, but that it had been improving its trading systems before the FMA probe.

"Mark’s appointment reinforces Milford’s focus on robust succession planning and the depth of our talent pool across the business," Gaynor said.

Troy Swann stepped down as chief executive last year to be closer to his family in Australia, having taken over the top job from Anthony Quirk in 2016.

The CEO appointment was part of a wider succession plan for Milford, which will also see Gaynor shift to a non-executive director role over the coming two months. He helped found Milford in 2003 and has seen it grow over the past 15 years, with $6 billion under management and employing 80 people in New Zealand and Australia.

Gaynor had already relinquished his portfolio management duties to Jonathan Windust in 2017, appointing Wayne Gentle as chief investment officer that same year.

"I am now more focused on oversight and governance of the business and, as such, will move to a non-executive director role on the Milford board and its investment committee over the next two months," Gaynor said in a note to customers. "I will continue as chairman of the investment committee of our private equity fund and retain my shareholding in the business."

Gaynor is Milford's biggest shareholder with about 23 percent.

Tags: Milford Asset Management

« CFPs mull future of pinnacle mark[The Wrap] What secrets are in the Code? »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 3.95 4.49
ANZ Special - 3.55 3.45 3.99
ASB Bank 5.20 4.05 3.95 4.39
ASB Bank Special - 3.55 3.45 3.89
BNZ - Classic - 3.55 3.45 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
HSBC Premier 5.24 3.35 3.35 3.35
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 4.04 3.95 4.39
Kiwibank 5.80 4.30 4.20 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.55 3.45 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.86 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - ▼3.55 3.39 3.89
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.35 4.25 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.55 3.45 3.89
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.55 3.45 3.99
Median 5.34 4.04 4.09 4.39

Last updated: 11 November 2019 4:01pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com