RNS Number : 8024P
W.H. Ireland Group PLC
23 July 2010
WH IRELAND GROUP PLC
("WH Ireland" or "the Company")
Appointment of New Chief Executive Officer
WH Ireland (AIM: WHI), the financial services group, is pleased to announce that, subject to FSA approval, it has appointed Paul Compton as Chief Executive Officer with effect from 6 September 2010.
Paul, aged 47 years, has 25 years' experience in the Small/Mid Cap sector. He joins WH Ireland from Toscafund Asset Management LLP ("Toscafund"), the London based hedge fund and asset managers. At Toscafund, Paul co-managed the Toscafund Mid Cap Fund which was ranked the second best performing long/short equity hedge fund in Europe in 2009 by EuroHedge, a leading hedge fund news and information provider.
From 2002 to 2007, Paul was Head of Capital Markets at Collins Stewart, where he was responsible for building the division into the leading broker in the Small/Mid Cap field, with a strong track record in raising funds. During his time at Collins Stewart, his team raised £7.6 billion in 234 separate transactions. Prior to this, Paul worked for Merrill Lynch as Head of Capital Goods Research, having started his career with Morgan, Grenfell & Co.
WH Ireland is also pleased to announce that it has appointed John Scott, Head of Private Client Stockbroking, to the Board as an executive director with immediate effect. John joined the Company in May 2008 from Barclays Wealth, having worked in stockbroking for over 40 years.
In addition, following his appointment as Parliamentary Under Secretary of State at the Department of Energy and Climate Change and in accordance with the Ministerial Code, Lord Jonathan Marland has stepped down from the Board as a non-executive director of the Company with immediate effect. The Board would like to thank Jonathan for his significant contribution to the Company and wish him well in his new government responsibilities.
Commenting on the appointment of Paul Compton, Chairman of WH Ireland, Rupert Lowe, said,
"We are delighted that Paul is joining us as Chief Executive Officer. Paul brings with him a wealth of experience in equity markets and a strong track record in driving revenue growth. I am confident that his knowledge and skill will support WH Ireland as we look to build on the progress made over the recent past."
The following information falls to be disclosed under rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.
In respect of Christopher Paul Compton:
Reflect Energy Limited
Directorships in the past five years:
Partner, Toscafund Asset Management LLP
Collins Stewart Europe Ltd
Paul Compton is to be granted 2,218,000 share options over ordinary shares on his appointment. The options will be granted at a price of 36.75p per share, being the closing mid-market price on 22 July 2010.
As at the date of this announcement, John McMillan Scott holds 74,575 ordinary shares of 5p in the Company, representing 0.35% of the entire issued share capital. John also holds 70,000 share options over ordinary shares.
Rupert Lowe, Chairman
Tel: 020 7220 1666
Oriel Securities Ltd
Tel: 020 7710 7600
Biddicks (Financial PR)
Tel: 020 7448 1000
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