Citywire printed articles sponsored by:
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:
Subscribe to Wealth Manager magazine and rack up CPD points
Citywire Wealth Manager has partnered with CISI to enrich the experience of subscribers to our magazine.
Today's top headlines
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.
On the road
by Dylan Lobo on May 16, 2013 at 16:17