Milford Asset Management Board Chair Mark Cross will retire from the Milford Board at the end of June 2022 and be replaced as chair by current non-executive director Gavin Walker.

Mr Cross joined the Milford Board in March 2013 and was appointed as chair in November 2015.

In announcing his retirement from Milford, Mr Cross said, “It has been a privilege to be part of Milford for nearly a decade, and to witness the growth of the business from under $2 billion to nearly $17 billion of client funds under management.”

Mr Cross paid tribute to Milford’s staff who during his time as a director have maintained an unerring client-first focus on delivering outstanding service and investment returns.  He believes the significant staff shareholding in Milford to be a key ingredient in the firm’s success and results for clients.

Mr Cross said he was delighted Mr Walker has agreed to take up the chair role from 1 July 2022.

“Gavin joined the Milford Board in November 2021 as part of its longer-term succession planning which also included the appointment of Carolyn Colley in October 2021.  He has spent the best part of his career in the financial services industry and has held senior leadership and governance roles in both New Zealand and Australia including as chair of both ASB Bank and New Zealand Superannuation Fund. As the incoming chair he brings a fresh perspective and deep experience across all facets of Milford’s business”.  Mr Walker said he was excited at the prospect of chairing one of New Zealand’s largest, successful, staff owned fund managers with an unwavering commitment to client service and a distinctive active asset management style.