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  1. Wealth
October 8, 2009

Exclusive: Vestra hits £1 billion

By Spear's

Vestra Wealth, the wealth management firm set up after a very public exodus of UBS bankers, has reached £1 billion in assets under management in less than a year, according to managing partner David Scott.

Vestra Wealth, the wealth management firm set up after a very public exodus of UBS bankers, has reached £1 billion in assets under management in less than a year, according to managing partner David Scott.

At a party held by the firm last night at Art London, in the grounds of the Royal Hospital Chelsea, Scott announced the milestone, saying: ‘It has not always been the smoothest of rides, but we always knew that there was a market for good quality, independent advice.’

The firm, which was entangled in legal wrangling with UBS and sniping from rival firms after its launch, has made some notable acquisitions of assets, including £80 million by Duncan Carmichael-Jack from the funds he used to manage at UBS.

Vestra was nominated in two categories at the Spear’s Wealth Management Awards 2009, held on September 14 at Christie’s, King St: New Firm of the Year and David Scott as Wealth Leader of the Year.

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