TIDMWHI
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 GBP3bn 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 GBP3bn
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
Phillip Wale, Chief Executive
Officer +44(0) 20 7220 1666
Canaccord Genuity Limited www.canaccordgenuity.com
Andrew Potts / Tom Diehl +44(0) 20 7523 8000
MHP Communications whireland@mhpc.com
Reg Hoare / James Bavister +44 (0) 20 3128 8793
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