Just a day after the shock exit of chief executive Paul Compton, WH Ireland has suspended the head of its Cardiff office as part of an investigation into personal share trades conducted by executives, according to reports.
According to Sky News, the private client stockbroker has suspended Barrie Tyler amid reports Compton's sudden departure was linked to an investigation into his personal share trades.
The news broadcaster said Tyler has been placed on leave pending the outcome of an investigation into a number of personal trades carried out by executives at the firm. It names transactions in facilities firm Cape and AIM-listed oil and gas firm Rockhopper Exploration among those being probed.
Sky also claims WH Ireland's compliance staff had previously raised concerns about Compton's dealings through Suspicious Transactions Reports.
Shares in WH Ireland have fallen from around 75p to 56p since news of Compton's departure hit the market early yesterday afternoon.
In a separate announcement posted on the London Stock Exchange this afternoon, WH Ireland confirmed Compton no longer had an interest in the firm after disposing of 1,190,348 ordinary shares at a price of 51.54p.
However, WH Ireland declined to comment on the investigation and the suspension of Tyler.