WH Ireland Group Plc (LON: WHI) today announced two directorate changes and a trading update for the period since its half year ended 30 September 2018.
Appointment of Finance Director
WH Ireland confirms that, subject only to FCA approval, Philip Tansey, will be appointed as Finance Director of the Company and will join the Board. As previously announced, Philip joined WH Ireland as Head of Finance in December. This appointment and that of the new Head of Wealth Management, Stephen Ford, reflect our new CEO Phillip Wale’s intention of putting in place a leadership team to position WH Ireland for future growth.
Between 2011 and 2017, Philip Tansey, a Chartered Accountant, was Chief Financial Officer of Panmure Gordon and before that, from 2008, was Managing Director of the NASDAQ quoted US inter-dealer Broker, BGC Partners Inc. During his career he has also worked at Deutsche Bank, CSFB, CIBC Wood Grundy, Salomon Brothers and BDO Stoy Hayward.
Further announcements will be made as appropriate.
Non-Executive Director stepping down
The Board also announce the intention of Jonathan Carey to step down from his role as a Non-Executive Director of the Board. Jonathan, who has been a board member since 2016, has indicated he will step down when a suitable replacement can be found, and in any event no earlier than 31 March 2019. Further updates will be provided as appropriate.
Trading Update
The Board also makes the following trading update. As has already been reported by a number of our peers, market conditions continue to be challenging, affecting both divisions of the Company. In addition, exceptional costs for the financial year ended 31 March 2019 are anticipated to be higher than originally expected following a number of significant one off expenses as we continue with our transformation strategy. However, despite these challenges, the Company has a strong pipeline of new business and the Board remains optimistic for the future.
Commenting, Phillip Wale, CEO said, “We are delighted that Philip Tansey will be joining us as a Director of the Company, subject only to FCA approval. Philip brings a wealth of experience that will be valuable to WH Ireland as we continue on the path towards growth and profitability. At the same time, the Board thanks Jonathan Carey for his excellent contribution to the Company and wishes him well for the future.”
