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WH Ireland reaches settlement with former chief executive Compton
by Dylan Lobo on Oct 15, 2013 at 14:20
WH Ireland has reached a settlement with former chief executive Paul Compton after he launched legal proceedings over claims of illegal dismissal.
In a statement to the London Stock Exchange, the wealth firm said the settlement was subject to a 'confidential' agreement.
Compton (pictured) joined WH Ireland in September 2010 and was named chief executive in the following January.
News that he resigned from the firm in December 2012 to be replaced by Richard Killingbeck came as a shock and sparked speculation there had been a boardroom bust up relating to his personal share dealings.
The firm subsequently suspended its Cardiff head and saw a number of other departures as it mounted an investigation into the personal share trades conducted by its senior executives.
Under Compton's command the corporate division grew from 68 to 83 clients and the private client division saw its assets increase by approximately £200 million, largely thanks to the Pritchard Stockbroking acquisition.
During this same period its revenue increased from £18.4 million to £25.1 million
In its statement WH Ireland said it wished Compton well for the future.
WH Ireland chairman Rupert Lowe said: 'I am pleased that this issue has now been settled and that the company under Richard Killingbeck can focus on delivering on its strategic plan on developing further both the corporate and the private client division and on delivering strong shareholder returns as a result.'
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