Devon to get new MD

Devon Funds Management is the third significant New Zealand fund manager to see a change in its leadership this year.

Wednesday, November 30th 2016, 5:27PM

Executive chairman Paul Glass has confirmed that long-serving chief executive Mel Firmin (pictured) is stepping down from the role of managing director next year.

Portfolio manager Slade Robertston, who has been with the firm since its establishment, will step up to the managing director role.

Glass says while the move means that Devon goes from having four to three senior portfolio managers, it is likely to recruit two analysts instead of another senior manager. This process will start next year.

Firmin would stay involved with the firm as a director and shareholder

Other fund managers to see changes are Milford Asset Management and Fisher Funds. Anthony Quirk left the top role at Milford earlier this year and Troy Swann has taken over. Carmel Fisher has announced that she is planning to step down from dat-to-day management at Fisher Funds. A replacement is yet to be appointed.

Tags: Devon FM