- Financial services group WH Ireland said it had agreed to sell its Isle of Man subsidiary to Ravenscroft.

The company said it would also enter into a collaboration agreement with Ravenscroft that would enable its continuing wealth management business to offer solutions to clients in international jurisdictions.

'We are pleased to announce this next step in streamlining WH Ireland's wealth management operations into a smaller number of integrated, larger locations focused on delivering a high quality service to our private clients,' chairman Phillip Wale said.

'The disposal of the Isle of Man subsidiary will continue this process whilst freeing up capital and management resources to focus on and invest in growing the core wealth management business and returning it to profitability.'

At 1:35pm: [LON:WHI] W.H. Ireland Group PLC share price was 0p at 43.5p

Story provided by