Beevers buys WH Ireland’s Colwyn Bay office

MANCHESTER stockbroker WH Ireland Group has agreed to sell its Colwyn Bay office to a management team that includes its former chief executive Laurie Beevers, for an undisclosed sum.

The purchaser of the business is WHI Stockbrokers Ltd, a company formed by  local director Paul Weston and Mr Beevers.

Mr Beevers said: “WH Ireland has maintained a long presence in Colwyn Bay serving local investors and professional intermediaries. Following the management buyout announced today, we look forward to maintaining the strong relationships established over the years and continuing to provide a high quality and personal service to our clients. 

“The team is excited by the opportunity to take the business forward with autonomy over its future direction, while at the same time securing access for our clients to the administrative, research and dealing functions associated with WH Ireland’s significant stockbroking operation.”

The firm parted company with long-standing directors Laurie Beevers and David Youngman earlier this year, after a fall-out with their boardroom colleagues over strategy.

The company said the deal would secure the future of the business while maintaining the group’s relationship with its principals.

Richard Ford, WH Irelands chief executive, said:  “I am delighted to have agreed this way forward for the Colwyn Bay business which will enable the local team to continue to provide a high quality of service to our client base in the area. 

“This is a tried and tested arrangement and I am particularly pleased that Laurie Beevers will be part of the new management in Colwyn Bay continuing his connections both with WH Ireland and with North Wales.  I wish the new company and all its staff a happy and successful future.”

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