WH Ireland Group Plc (LON:WHI) announced today that Richard Killingbeck, the current Chief Executive Officer of the Group, will not be seeking re-election as a Director of the Company at the forthcoming Annual General Meeting of the Company on 27 September 2018 in order to pursue other opportunities. Richard will step down as CEO with effect from 31 July 2018 and will step down as a director on or before the Annual General Meeting. A further announcement will be made at that time. Richard joined the Company in September 2012 as Head of Private Wealth Management, before being appointed Chief Executive in January 2013.
The board of WH Ireland is pleased to announce that Phillip Wale has been appointed as Chief Executive Officer elect of the Company, with effect from 1 August 2018, with his appointment to Chief Executive Officer and the board, being subject to approval by the Financial Conduct Authority.
Phillip Andrew Wale, aged 54, began his career in UK Gilt Edged & convertible bonds, spending ten years at Goldman Sachs in New York and then London, as co-head of pan-European equities. He managed the equity businesses at Commerzbank and then at Knight Securities, where he was appointed European CEO. In 2004 he moved into fund management as CIO of a multi-strategy hedge fund, returning to the sell-side in 2007 with Collins Stewart working closely with the expansion of the wealth management product. Phillip joined Seymour Pierce, the corporate & institutional broker and wealth manager, in 2010 and was appointed its Chief Executive Officer in 2011. Between 2012 and 2016 he was Chief Executive Officer of Panmure Gordon & Co. For the last two years, Phillip has been Head of Fixed Income (Europe) at Cantor Fitzgerald Europe.
Tim Steel, WH Ireland Group PLC Chairman, commented: “The Board would like to express its thanks to Richard for his significant contribution to the Group over the past six years. During this time, he has overseen the key transformational changes that have positioned WH Ireland as a modern and more efficient organisation. We wish him well in the future.
“I would also like to welcome Phillip to the Group and I look forward to working with him as he looks to build upon the changes that have already taken place. Phillip has held a number of senior positions in similar financial services businesses which span both Wealth Management and Corporate and Institutional Broking. I believe that we can draw upon this experience to take the Group forward in the next stage of its development with the full support of our major shareholders.
“WH Ireland has two successful businesses with good prospects and a solid financial platform. We intend to focus on accelerating the growth and profitability of each business for the benefit of all of the Company’s stakeholders.”