Isle of Man office opening

RNS Number : 9326A

W.H. Ireland Group PLC

26 February 2014

 



26 February 2014

WH Ireland Group Plc

("WH Ireland" or "the Group")

WH Ireland launches Isle of Man office

Regulatory approval received from the Isle of Man financial supervision commission

WH Ireland, the financial services group that provides corporate broking and private wealth management services, is pleased to announce that its Isle of Man subsidiary, WH Ireland (IOM) Limited (the 'Isle of Man office') has gained regulatory approval from the Isle of Man Financial Supervision Commission ('FSC') enabling it to launch a new office on the island. Its establishment represents an important strategic expansion for WH Ireland's private wealth management business. 

The new office is based in the centre of the Douglas financial community at Athol House, 21a-23 Athol Street, Douglas, Isle of Man, IM1 1LB. The office is led by David Bushe, Gary Colley and Will Corrin who collectively have over 70 years' investment management experience.  They will report directly to Richard Killingbeck, Chief Executive of WH Ireland.  The office is tasked with launching WH Ireland's international wealth management services and managing corporate and private client discretionary and advisory asset management relationships on the Isle of Man and other jurisdictions, typically with portfolios in excess of £250,000.

The Isle of Man team will contribute to the Group's asset allocation committee. With a wealth of experience, jurisdictional presence and knowledge, it is expected to add significant value to WH Ireland's discretionary and advisory asset management proposition. In turn, it will benefit from the resources, ranging from research, analysis and operational experience to systems, of the well-established and respected existing WH Ireland wealth management team.

Richard Killingbeck, Chief Executive of WH Ireland commented:

"We have long recognised the importance of offering our clients an international solution and chose to establish our operation in one of the most developed and highly rated international centres, the Isle of Man. We have put in place a highly experienced and well regarded team to lead our initial presence.  

"This new office reflects our strategy to grow our discretionary wealth management business.  The evolution of new international pension structures such as QROPS¹ and onshore solutions such as QNUPS² combined with traditional trust, captive, corporate and private client business ensures there will be plenty of opportunities to grow our Isle of Man business."

The Isle of Man's Minister for Economic Development John Shimmin MHK said:

"My Department has been working closely with the Directors of WH Ireland over the preceding months and I am delighted to welcome a business such as theirs to the Isle of Man.

'The Isle of Man has a successful and well-regulated professional wealth management industry which is internationally recognised and respected. The addition of WH Ireland reinforces this position and we thank them for selecting the Isle of Man and look forward to working with them over the coming years."

For further information please contact:

WH Ireland Group plc                                                                      www.wh-ireland.co.uk

Richard Killingbeck, Chief Executive Officer                                       [phone]

Panmure Gordon (UK) Limited                                                      

Hugh Morgan, (Corporate Finance)                                                    [phone]

Adam Pollock, (Corporate Broking)   

MHP Communications

Reg Hoare / Jade Neal / Jamie Ricketts                                             [phone]                                                                                                                        [e-mail]

Notes to editors

WH Ireland Group plc:

WH Ireland is a financial services company offering private wealth management and corporate broking services.  Since 2000, the company has been listed on the London Stock Exchange on AIM (WHI).  The Group has two divisions:

Corporate Broking:  The Group provides corporate finance, research, market making and fund raising capabilities to quoted small/mid-cap companies, including a full NOMAD service to the majority of our corporate clients. WH Ireland is ranked 3rd largest Nominated Advisor and corporate broker by number of AIM clients.

Private Wealth Management: The Group provides wealth management and wealth planning services tailored to the individual, corporates, trusts and funds. It has over 140 years' pedigree in private client wealth management. It manages over £2.3 billion of assets under management and administration and operates from 12 offices around the United Kingdom.

WHI Ireland Isle of Man Staff biographies:

David Bushe, Director

David Bushe took up his new role as Director, WH Ireland (IOM) Limited in 2013. He is also a member of the Group's asset allocation committee and is responsible for the management of institutional and private client assets.  David has held positions at the Royal Bank of Canada Global Private Banking on the Isle of Man, Standard Bank and Close Asset Management. David is a Chartered Fellow of the Chartered Institute for Securities and Investment and also a Chartered Wealth Manager.   

Gary Colley, Director

Gary Colley joined WH Ireland as an investment manager in December 2013 and became a Director in February 2014. Gary has held positions at the Cooperative Insurance Society, Coutts and Co, Singer & Friedlander Investment Management (IOM) Ltd, Thomas Miller Investments Limited and, most recently, Canaccord Genuity Wealth Management. Gary is an Associate of the CFA Society of the UK (ASIP).   

Will Corrin, Director

Will Corrin was appointed in 2013 as Director Operations of WH Ireland (IOM) Limited and oversees all the Isle of Man office's back and middle office functions alongside being a locally based Board member.  Will has held positions at Singer & Friedlander on the Isle of Man, Close Brothers and, most recently, Thomas Miller Investment. Will is an Associate Member of the Chartered Institute for Securities and Investment.

 

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