Gaynor resigned as Guardian

Brian Gaynor has resigned from the board of the Guardians of New Zealand Superannuation and is joining Milford Asset Management as an executive director and shareholder.

Wednesday, March 3rd 2004, 5:24PM

“Brian has made a very significant contribution to the establishment of the New Zealand Superannuation Fund and we wish him every success in his new business venture,” board chairman David May says.

Gaynor resigned as there are conflicts between his new job and being a guardian.

“I have resigned because it is vitally important that the integrity of the Guardians is maintained, and there are potential conflicts of interest between my new position and the Guardians.”

Guardian board members are appointed by the Minister of Finance following recommendations from an independent nominating committee. The process of replacing Brian Gaynor will commence in the near future.

Milford Asset Management is an independent investment management company. Its shareholders include executive directors Alan Moore, Graeme Thomas and Neville Todd who is the managing director.

“Brian brings to Milford Asset Management a huge range of skills and experience as an investment analyst and this complements the investment management experience of other members of our team.

“We have all either worked together or known each other in the industry for many years and Brian shares the same values that we espoused on setting up Milford – namely creating value for clients, integrity, fee transparency and a commitment to best practise and quality governance.”

Gaynor is one of New Zealand’s most experienced and well known investment analysts. His career includes roles as a partner and head of research at stockbrokers Jarden & Co, a member of the New Zealand Stock Exchange, chairman of the New Zealand Society of Investment Analysts and Chairman of the Asian Securities Analysts Council.

More recently Brian has worked as an independent investment analyst and business media columnist. He is a director of The New Zealand Investment Trust plc (listed on the NZ and UK stock exchanges).

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