WH Ireland hires from UBS to grow DFM arm

“His time at UBS across a number of different disciplines has given Michael a strong understanding of client needs, and we look forward to leveraging that expertise as we further enhance and differentiate our proposition of high quality capabilities, product and service based around best in class wealth planning.”

Wale added: “We expect Michael’s appointment to enable us to make further progress towards delivering our ambition to manage at least £3bn of discretionary funds under management.

“I would also like to thank Stephen Ford for his significant contribution to the turnaround at WH Ireland, having made great strides in reducing risk whilst establishing a robust platform on which to grow.  He should be proud of what he has helped to achieve and WH Ireland is very grateful to him for his invaluable contribution to this phase of its development.”

Last month, WH Ireland's wealth management arm sharply reduced its losses, allowing to set a renewed focus on buying firms. 

In the six months to the end of September 2021, the wealth management division lost £166,000 on an adjusted basis, down from £456,000 in the same period the previous year on a like for like basis.

As recently as the 2018-19 financial year, the division lost £6m, which is when Steve Ford was hired to turn it around. 

At the time, Ford said the firm was now focused on buying firms which have assets under management of less than £1bn.

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