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 names Killingbeck as CEO after shock Compton exit

WH Ireland names Killingbeck as CEO after shock Compton exit

WH Ireland has named Richard Killingbeck chief executive officer following the surprise departure of Paul Compton in December.

Killingbeck joined the stockbroker from Credit Suisse, and worked as head of private wealth management.

His appointment was a key part of Compton’s plans to grow the business from its traditional stockbroking roots into a more diversified wealth management firm. This included the purchase of the client book of now defunct Pritchard Stockbrokers, which also saw WH Ireland open a raft of regional offices.

Compton left the business with immediate effect in December, and reports suggested there was a row over his personal share dealing.

The head of the Cardiff office was also suspended and the news sparked a plunge in the firm’s value, with shares falling from 72.5p to close at 56p, a loss of 25%.

A trading update issued shortly after the departure offered little insight as to why Compton quit, although the firm was keen to emphasise that in year to 30 November 2012 group revenue increased to £25 million, resulting in a significant improvement in the underlying trading performance.

Chairman Rupert Lowe said: ‘I am delighted that, following FSA approval, Richard Killingbeck has agreed to assume the role of chief executive officer. Richard brings significant financial sector experience to the company gained over the past 25 years and this experience will help WH Ireland as it continues to expand the business in the years ahead.’

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 JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter