WH Ireland’s Cardiff office has been hit by the departure of four staff, including its office head, just weeks after the shock exit of chief executive officer Paul Compton.
Cardiff office co-head Barrie Tyler is understood to have left the company and has been replaced by Terry Lewis, an associate director at the firm, while three long-standing members of the team also departed in the days following Tyler’s sudden exit.
Tyler left the company in mid-December a day after Compton, amid reports the duo were being investigated over their personal share dealings.
Head of financial services Minaz Kasmani, who had joint control of the Cardiff office with Tyler, left the office five days after Tyler, according to the FSA register.
He was followed by David Cook, a financial adviser, who left in late December after three years at the firm.
Adviser Gareth Harris also left WH Ireland’s Cardiff branch in late December. It is understood he has joined international advisory firm Guardian Wealth Management, as it looks to set up its first Wales office.
To compensate for the losses, Tom Williams and Claire Darragh from WH Ireland’s Bristol office are spending time at the Cardiff office while the business actively recruits.
Following Compton’s exit, WH Ireland has named Richard Killingbeck as chief executive. He was formerly head of private wealth management and his appointment was part of Compton’s plans to shift from being a traditional stockbroker into a more diversified wealth management firm.
Compton and Tyler’s departures sparked a plunge in the firm’s value, with shares falling from 72.5p to close at 56p, a loss of 25%. At the time of going to press, the share price was 58.39p.
A spokesperson for WH Ireland said the firm would not comment on ‘disciplinary matters’.