View the article online at http://citywire.co.uk/wealth-manager/article/a633523
New WH Ireland wealth boss lands with twin challenge and £460k stake
by Dylan Lobo on Nov 12, 2012 at 08:04
New WH Ireland wealth head Richard Killingbeck has disclosed a 3.06% stake in the firm on his arrival and has been set a challenging twin target by the firm's chief Paul Compton.
Killingbeck (pictured) joined the firm on 18 September from Credit Suisse - where he was a managing director - to play a key role in Compton’s vision to transform the business.
Killingbeck’s interests are very much aligned to the performance of the firm after a stock exchange announcement this morning declaring his arrival revealed he owns 725,000 shares in the stock, accounting for 3.06% stake worth around £460,000 on Friday’s closing price of 63.5p.
WH Ireland has also granted Killingbeck options on a further £473,787 shares at a price of 0.77p, which can be exercised in the third year and ending in the tenth.
The options are conditional to WH Ireland increasing funds under management by 200% from the level they stood at on 30 November 2012 and a £5 million or more profit on the division over the same period.
‘I am pleased to welcome Richard to the WH Ireland board as head of private wealth management. Richard's recent share purchases and option hurdles underline his ambitions for the firm,’ Compton told the stockmarket.
News sponsored by:
Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.
Today's top headlines
On the road
by Robert St George on Apr 23, 2014 at 10:17