WH Ireland settles with former chief exec
THE Manchester stockbroker WH Ireland has settled with its former chief executive who left abruptly in December.
In a brief stock market statement it said it had reached a settlement “in regard to all of Paul Compton’s claims against the company. This settlement is subject to a confidential agreement.”
Mr Compton joined the firm from Toscafund Asset Management in London in 2010, replacing Richard Ford.
The company gave no explanation for his departure at the time but in its full-year figures in March it said a former employee had started legal proceedings for “unfair dismissal, wrongful dismissal and breach of contract regarding a share agreement”.
In today’s statement WH Ireland gave credit to Mr Compton for the firm’s growth during his tenure. It said: “During this period the corporate division grew from 68 to 83 corporate clients and the private client division saw its assets increase by approximately £200m as a result of the Pritchard Stockbroking acquisition.
“During this same period, WH Ireland group revenue increased from £18.4m to £25.1m. WH Ireland wishes Paul Compton well for the future.”
Chairman Rupert Lowe added: “I am pleased that this issue has now been settled and that the company under Richard Killingbeck can focus on delivering on its strategic plan on developing further both the Corporate and the Private Client division and on delivering strong shareholder returns as a result.”
