Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Killingbeck unveils WH Ireland blueprint after Compton shock

1 Comment
Killingbeck unveils WH Ireland blueprint after Compton shock

WH Ireland’s new chief is targeting acquisitions in the north-west as he forges ahead with growth plans following the shock departure of Paul Compton last month.

Richard Killingbeck was handed the chief executive post after Compton made a sudden exit in December, with reports suggesting he was being investigated over his personal share dealings by the Financial Services Authority. Killingbeck had worked as head of private wealth management at WH Ireland since joining from Credit Suisse in September 2012.

In the weeks following Compton's exit, the firm's Cardiff office was hit by a string of departures, as revealed by Wealth Manager.

In an interview with the Manchester Evening News, Killingbeck reiterated many of Compton’s plans laid out to Wealth Manager last autumn, including the acquisition of regional businesses. Last year WH Ireland doubled its office count  after acquiring the assets of failed stockbroker Pritchard.

Killingbeck also said he would work to grow WH Ireland’s corporate finance arm, and wants to assets under management on the wealth side to double to £3 billion over the next three years – a somewhat lower figure than the £5 billion eyed by Compton.

‘The company has gone through a lot of upheaval but I am looking forward to providing continuity and stability,’ he told the paper.

‘We will be looking to grow both our private wealth management and corporate finance sides of the business in the region, by acquiring individuals and teams, and through organic development.’

Although WH Ireland switched its registered head office from Manchester to London last year, in a move Compton described as keeping the business relevant, Killingbeck said the ‘engine room’ of the business remained in Manchester.

‘I’m very much aware of the heritage and north west focus of the business and am very keen to build on that.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Play Henderson's Hermon: how to be defensive in smaller caps

Henderson's Hermon: how to be defensive in smaller caps

Hermon, who manages the Henderson Smaller Companies trust, talks about he will tackle a 'challenging' 2016.

Your Business: Cover Star Club

Profile: 'what we are doing at Mosaic is Darwinian'

Profile: 'what we are doing at Mosaic is Darwinian'

The changes in financial services over the last few years may leave some destitute warns Marco Sambucci of Mosaic Money Management

Wealth Manager on Twitter