Wealth manager WH Ireland finance director Daniel Cowland has resigned from the firm. Cowland will quit the firm by 30 April 2019.

The firm plans to appoint a new finance head on an interim basis on 3 December 2018.

WH Ireland chairman Tim Steel said: “We would like to thank Dan for his significant contribution to the firm in the four and half years in which he has worked with us and wish him all the best for the future.”

The move comes as the wealth manager reported pre-tax loss of £2.13m for the six months ended 30 September 2018. In the previous year, the firm’s pre-tax loss was £960,000.

The firm’s revenue for the period was £12.81m, down 12% from £14.51m last year.

In the Private Wealth Management unit, assets under management totalled £2.6bn. The figure marked a rise of 3% from 31 March 2018. Discretionary assets rose 8% since the beginning of the financial year.

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By GlobalData

WH Ireland CEO Phillip Wale said: “The division continued its transformation programme during the period under review, which has been both costly and challenging for the business but I am pleased to see the progress that has been achieved to date.

“One of the key initiatives being undertaken has been outsourcing our custody and operational functions and, as previously reported, this complex project has run over budget and taken longer to implement. However, looking forward, it has resulted in a more robust and scalable operating platform from which to build the division.”