10th Feb 2025 11:03
(Alliance News) - WH Ireland Group PLC on Monday said it will close its loss-making Henley office by May as it enters an agreement to allow Verso Wealth Management Ltd to market its services to some Henley clients.
The London-based wealth-management firm said its subsidiary WH Ireland Ltd will also help Verso contact these clients.
It will receive cash payments linked to revenue generated from its clients at Verso until June 20, up to GBP500,000.
The company said some of the financial planning team have already joined Verso, who will be allowed to participate in Verso marketing activity earlier than otherwise permitted.
It will surrender the Henley office lease by the end of May to focus its Wealth Management operations in London, Manchester and Poole.
WH Ireland shares were down 1.8% to 2.70 pence in London on Monday morning.
By Michael Hennessey, Alliance News reporter
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