Milford CEO to depart

Milford Asset Management chief executive Mark Ryland is stepping down from his role, but won't be leaving until the end of March next year.

His announcement follows the recent news that Nikko Asset Management managing director, George Carter, is returning to the United Kingdom later this year.

Milford chairman Gavin Walker says, in a statement, “despite the challenges represented by the Covid pandemic during a large proportion of his five-years at the helm, Mark has successfully led our business through a period of strong and high-quality growth, with funds under management increasing from $6 billion in 2019 to over $17 billion and a material increase in market share."

“Mark’s focus on ensuring consistent delivery of outstanding performance and service to our clients, together with the further development of our strong digital capability and culture, will be a legacy of which he can be very proud.”

“Mark has brought total commitment and high energy to the CEO role and I’ve enjoyed working with him through a time of immense disruption to world markets and economies,” Walker said.

Walker says when Ryland leaves he will "embark on his next challenge after time with family and travelling."

He says "the board is very appreciative that Mark has provided an extended notice period, enabling a thorough process to be completed to appoint and transition a new CEO."