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  1. Wealth
January 6, 2010

Reuters: Vestra plans £500m offshore in 2010

By Spear's

LONDON, Jan 5 (Reuters) – London-based investment firm Vestra Wealth plans a rapid expansion of a new offshore business, targeting 500 million pounds ($805 million) in assets under management by year end, its managing partner said.

LONDON, Jan 5 (Reuters) – London-based investment firm Vestra Wealth plans a rapid expansion of a new offshore business, targeting 500 million pounds ($805 million) in assets under management by year end, its managing partner said.

David Scott, who founded Vestra in late 2008, told Reuters the company is recruiting 10 new client advisers to build the offshore arm which will be based in Jersey.

The hiring spree follows the appointment of Milena Ivanova from Goldman Sachs (GS.N) last June, who is charged with setting up the offshore investment product.

“Obviously the clients are more international in their thinking … you can’t just take a UK portfolio and exactly replicate it in terms of its composition,” Scott said.

To read the full story, visit reuters.com

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