6th Feb 2019 09:41
LONDON (Alliance News) - WH Ireland Group PLC on Wednesday said it remains optimistic for the future despite challenging market conditions, as it appointed Head of Finance Philip Tansey as finance director.
In addition, the broker and wealth management firm said Non-Executive Director Jonathan Carey will step down after three years of service. The company has already began the search for replacement.
WH Ireland said the board changes reflect new Chief Executive Phillip Wale's intention of putting in place a leadership team to position the company for future growth.
At the end of July, CEO Richard Killingbeck had stepped down in order to pursue "other opportunities" and was replaced by former Panmure Gordon & Co boss Wale.
WH Ireland said challenging market conditions continue to affect both of its divisions, Corporate & Institutional Broking and Wealth Management.
In addition, exceptional costs for the financial year to the end of March are anticipated to be higher than originally expected, the company said, following a number of significant one off expenses as WH Ireland continues with its transformation strategy.
However, despite these challenges, the company said it has a strong pipeline of new business and remains optimistic for the future.
"Philip brings a wealth of experience that will be valuable to WH Ireland as we continue on the path towards growth and profitability," said Wale.
"At the same time, the board thanks Jonathan Carey for his excellent contribution to the company and wishes him well for the future," added Wale.
WH Ireland shares were trading 9.7% lower on Wednesday at 65.00 pence each.
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