Milford Asset Management confirms three senior hires
Milford Asset Management has appointed a new head of private markets, head of global equities and head of wealth portfolios.
Friday, July 3rd 2026, 9:36AM
Trans-Tasman fund manager Milford Asset Management has confirmed three significant new hires as the firm builds its in-house investment capability.
It is appointing Rupert Horrocks as head of private markets, Richard (Rick) Mercado as head of global equities and David Lewis as head of wealth portfolios.
"The appointments represent a significant step in the continued evolution of Milford's investment capability," chief investment officer Wayne Gentle said.
The three bring deep expertise in areas important to Milford's future growth and would strengthen the firm's investment platform, Gentle said.
"Their appointments position us well for the next phase of development while maintaining our focus on delivering strong outcomes for clients," he added.
Milford has $35 billion of funds under management across New Zealand and Australia.
Horrocks starts at the firm's Auckland office on July 27, bringing two decades of experience across private equity, infrastructure, real assets and credit in Britain, Europe and New Zealand.
His appointment is a key step in scaling Milford's private markets capability across direct investments and partnerships.
Horrocks joins Milford most recently from Bond Street Capital, where he advised private equity investors, family offices and corporates on mergers and acquisitions, capital strategy and asset management.
He worked for more than a decade at Kaupthing in London, where he co-managed a large alternatives portfolio spanning private equity, infrastructure and credit.
Mercado starts at Milford's Sydney office. He is experienced across Australia, Europe and Britain and has a track record of managing global equities, most recently at Rest Super.
At Rest Super, he built the internal global equities capability from inception and scaled the portfolio to about $1.5 billion in assets under management.
His career includes senior roles at Comgest, USS Investment Management and F&C Investments.
His background includes fundamental stock selection and broader portfolio construction, with a strong emphasis on disciplined capital allocation and high-conviction investing.
Lewis returns to Milford on August 3, having taken time in 2021 to undertake professional and academic development. He previously led Milford's bond and diversified income funds.
He will be responsible for the portfolio construction, management and ongoing development of Milford's wealth management portfolios.
"A key aspect of the role will be strengthening the connection between the investment and wealth management teams," Milford said.
This, the firm said, would ensure investment views were clearly translated into portfolio positioning and communicated effectively.
Lewis' career included a stint at Pathfinder Asset Management.
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