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.

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 Dispelling the sustainable investing myths

Dispelling the sustainable investing myths

There's a bit of a buzz around sustainable investing at the moment. We speak to three wealth managers to find out what they think.

Play Inside ETFs: positioning for the Fed rate rise

Inside ETFs: positioning for the Fed rate rise

Natalie Fast discusses how investors are using ETFs to position for a rate rise with guests Irene Bauer from Twenty20  Investments and Markit's Simon Colvin.

Play Wealth Manager Retreat: video highlights

Wealth Manager Retreat: video highlights

The UK's leading wealth management talent gathered at our annual event at the Grove celebrate the best in private client portfolio management.

Wealth Manager on Twitter