Milford Asset Management adds three senior hires
Milford Asset Management announced three senior appointments as it expands its in‑house investment capabilities across New Zealand and Australia.
New leaders take charge of private markets, global equities and wealth portfolios
Rupert Horrocks will become head of private markets, joining the Auckland office on July 27. He brings roughly twenty years of experience in private equity, infrastructure, real assets and credit, having worked in Britain, Europe and New Zealand. Before joining, Horrocks advised private‑equity investors and family offices at Bond Street Capital and spent more than a decade at Kaupthing in London, co‑managing a large alternatives portfolio.
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Richard “Rick” Mercado is set to lead global equities from the Sydney office. His background spans Australia, Europe and the United Kingdom, with a recent stint at Rest Super where he built the internal global equities function from the ground up and grew the portfolio to about $1.5 billion. Mercado’s career also includes senior positions at Comgest, USS Investment Management and F&C Investments, focusing on fundamental stock selection and disciplined capital allocation.
David Lewis returns on August 3 to head wealth portfolios. He previously led the firm’s bond and diversified income funds and will now oversee portfolio construction and ongoing development for the wealth management segment. The role explicitly aims to tighten the link between investment and wealth teams, ensuring that investment views translate clearly into portfolio positioning.
Strategic context and expected impact
Chief investment officer Wayne Gentle said the hires “represent a significant step in the continued evolution of Milford’s investment capability.” He added that the new appointments “position us well for the next phase of development while maintaining our focus on delivering strong outcomes for clients.” The company currently manages about $35 billion in assets across the two countries.
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Horrocks’s addition is described as a key move to scale private‑markets activities, both through direct investments and partnership arrangements.
Overall, the three hires are expected to reinforce the platform as it seeks to deliver consistent performance for clients while facing intense competition.
