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WH Ireland chief Paul Compton quits
by Annabelle Williams on Dec 13, 2012 at 14:00
WH Ireland chief executive Paul Compton has resigned from the firm.
The corporate broker and wealth manager said Compton (pictured) had decided to stand down with immediate effect and the firm has replaced him with head of private wealth management Richard Killingbeck.
In a brief statement to the stock market, WH Ireland gave no reason for Compton's seemingly sudden departure.
Compton recently spoke to Wealth Manager of his ambitions for the firm to outline his plans to move WH Ireland from its roots as a traditionally stockbroking-led business into the largest corporate broking firm on the alternative investment market (AIM), and as part of this strategy bought the assets of failed Pritchard Stockbroker.
Moreover, Compton's plan looked to be falling into place when it last spoke to investors. WH Ireland's most recent set of results showed a turnover 10.5% higher year-on-year and liquid cash of over £5 million.
Pre-tax profit moved slightly lower however this was the result of the firm absorbing the costs of the Pritchard acquisition, and in the same period the firm took the decision to expand into the regions.
Killingbeck, whose appointment as Compton's successor is still subject to regulatory approval, will no doubt take over this mantle for change.
He was hired by WH Ireland in September this year as its head of wealth, moving over from Credit Suisse where he worked as a managing director.
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