W H Ireland unveils new boss

23rd Jul 2010 08:53

Former Collins Stewart man Paul Compton is the new chief executive at stockbroking firm W H Ireland.Compton will take the helm at a company that remained in the red in the six months to 31 May.Loss before tax was £0.518m, a marginal improvement on the consolidated loss of £0.523m the year before.Group revenue from continuing operations fell to £8.8m from £15.1m the year before when revenue was boosted by one-off revenues achieved by the wealth management division.In the wealth management division, assets under management have increased by 14.7% to £1.35bn since the year end. The securities division has suffered from the delay or postponement of a number of transactions in its pipeline but the company believes its budgeted revenue targets for the full year remain achievable.The new boss, Paul Compton, will take up his new position on 6 September. He has over 25 years' experience in the Small/Mid Cap sector and joins WH Ireland from Toscafund Asset Management LLP, the London based hedge fund and asset managers.