REG - W.H. Ireland Group - Directorate Change

WH IrelandAnnouncement

13/01/2022 07:05

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RNS Number : 2784Y  W.H. Ireland Group PLC  13 January 2022

 

 

WH Ireland Group Plc

 

("WH Ireland" or the "Company")

 

Directorate Change

Appointment of new Head of Wealth Management

Michael Bishop to lead the next phase of development

WH Ireland (AIM: WHI) is pleased to announce the appointment of Michael
Bishop, as Head of Wealth Management. Michael will lead the next phase of the
division's development with the stated ambition to manage at least £3bn of
discretionary funds under management at a 20% margin. This and other recent
senior leadership appointments demonstrate WH Ireland's commitment to the
continuing transformation of the Company and its ambitious growth plans.

Michael Bishop, who joins with immediate effect, brings significant experience
of building and running substantial wealth management businesses, having
previously been a senior member of UBS's wealth management business for over
20 years. He started his wealth management career as a founding employee of
UBS's UK domestic wealth management business in 2000; having grown UBS's
business in the UK, he spent two years in Switzerland integrating the teams
covering origination, investment and client relationships across the UK
business.  He then developed an Institutional Family Office business whilst
being responsible for UBS's Ultra High Net Worth teams across Northern Europe.
 

This combination of business building, both organically and through
acquisition, coupled with his strong and varied experience in creating
attractive client propositions, means Michael is a strong fit for WH Ireland
as it builds on the progress it has made over the last few years.

Michael spent the early part of his career in Arthur Andersen's and PwC's tax
divisions having graduated from the University of Southampton.

Furthermore, the Company confirms that Stephen Ford is to step down as Head of
Wealth Management, and an Executive Director of the WH Ireland board, to
pursue other opportunities. Stephen will remain a director with WH Ireland
until 31 January 2022 to ensure a smooth transition of the Wealth Management
business to Michael Bishop.

Commenting on today's announcement, Phillip Wale, CEO of WH Ireland, said:

"I am very pleased to welcome Michael to the team. Michael brings with him
great experience and expertise that matches our requirements as we build on
Stephen's work. We have grown discretionary assets under management
significantly, successfully completed our first acquisition and are
strengthening our customer proposition to create real differentiation.

"His time at UBS across a number of different disciplines has given Michael a
strong understanding of client needs, and we look forward to leveraging that
expertise as we further enhance and differentiate our proposition of high
quality capabilities, product and service based around best in class wealth
planning.

"We expect Michael's appointment to enable us to make further progress towards
delivering our ambition to manage at least £3bn of discretionary funds under
management.

"I would also like to thank Stephen Ford for his significant contribution to
the turnaround at WH Ireland, having made great strides in reducing risk
whilst establishing a robust platform on which to grow.  He should be proud
of what he has helped to achieve and WH Ireland is very grateful to him for
his invaluable contribution to this phase of its development."

Commenting on today's announcement, Michael Bishop, newly appointed Head of
Wealth Management at WH Ireland, said:

"I am delighted to be joining WH Ireland at this opportune time; the team has
made real progress in establishing a platform for growth and in developing a
discretionary wealth management proposition that is now delivering strong
inflows.

"However, there remains much work to do, particularly as we focus on
accelerating our path to sustainable growth and profitability, and in time to
exceed our current targets, supported by a strengthened financial position to
underpin organic and acquisition investment.

"There is an exciting opportunity to continue the development of a genuinely
differentiated wealth management business at WH Ireland and I am looking
forward to working with the team to do just that."

Commenting, Stephen Ford, outgoing Head of Wealth Management said:

"I am proud of what has been achieved within Wealth Management over the past
three years and I am extremely grateful for all the support I have received
from within the business during that time.  However, now is the right moment
for me to step down as I focus more of my time on my family as we relocate to
Devon.  I wish the firm all good fortune and will watch with interest as it
achieves its ambitious growth plans".

For further information please contact:

 WH Ireland Group plc                                      www.whirelandplc.com (http://www.whirelandplc.com)
 Phillip Wale, Chief Executive Officer                     +44(0) 20 7220 1666

 Canaccord Genuity Limited                                 www.canaccordgenuity.com (http://www.canaccordgenuity.com)
 Andrew Potts / Tom Diehl                                  +44(0) 20 7523 8000

 MHP Communications                                        whireland@mhpc.com (mailto:whireland@mhpc.com)
 Reg Hoare / James Bavister                                +44 (0) 20 3128 8793

 

This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the
Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication
of this announcement, this information is now considered to be in the public
domain.

 

 

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