Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

WH Ireland launches international business on Isle of Man

WH Ireland launches international business on Isle of Man

WH Ireland has launched a dedicated office and an international business on the Isle of Man after winning regulatory approval from the offshore jurisdiction’s regulator.

The announcement followed full-year results for the broker showing profit before tax of £1.7 million from a loss of £200,000 in 2012 on an 18.2% increase in revenue to £29.7 million. At 8.05 WH Ireland was up 1.2% at 125p.

The office will be headed by David Bushe, formerly of Close Wealth Management (Barbados), Will Corrin, formerly of Thomas Miller, and Gary Colley, formerly of Canaccord Genuity.

‘We have put in place a highly experienced and well regarded team to lead our initial presence,’ said Richard Killingbeck (pictured), chief executive of WH Ireland.

‘This new office reflects our strategy to grow our discretionary wealth management business. 

‘The evolution of new international pension structures such as [Qualified Recognised Overseas Pension Schemes] and onshore solutions such as [Qualified Non-UK Pension Schemes] combined with traditional trust, captive, corporate and private client business ensures there will be plenty of opportunities to grow our Isle of Man business.’

The company reported a 43% increase in assets under management in 2013, from £1.7 billion to £2.5 billion, and following the purchase of Seymour Pierce in 2012 it said it remained acquisitive.

Recurring revenue within the company rose 32% to £8.9 million as it continued to re-orient its business away from brokerage fees to ongoing financial and wealth management charges.

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 Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Play Tesco, Japan and the rise of the central banker

Tesco, Japan and the rise of the central banker

 Libby Ashby and leading wealth managers scrutinise the food retail sector, Japan’s consumption tax hike and political risk in the markets.

Your Business: Cover Star Club

Veteran banker boosts Sanlam’s stockbroking team

Veteran banker boosts Sanlam’s stockbroking team

A veteran private banker has been recruited by Sanlam Private Investments to strengthen its advisory stockbroking team.

Wealth Manager on Twitter