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Vestra recruits former cover star Ahluwalia for international push

Vestra recruits former cover star Ahluwalia for international push

Vestra Wealth has poached Wealth Manager cover star Rohit Ahluwalia from DPZ Capital for its Jersey office.

Ahluwalia (pictured) will become Vestra’s head of offshore investment solutions.

Ahluwalia was co-chief investment officer and head of the model portfolio service at DPZ Capital, where he had worked since 2012.

DPZ’s model service has gathered £70 million over the past year, which has contributed the bulk of the near £100 million increase in assets the company has achieved since late 2012, to stand at a total of £425 million in client money.

Ahluwalia originally came to the UK from Canada with RBC Wealth Management as investment director.

Vestra has been busily expanding its Jersey operation of late, most recently taking on Stephen Rafferty from Bank Leumi as business development director for the Channel Islands.

Tony Allan, head of business development at Vestra, has stated that the firm planned to double its headcount in Jersey from the present six over the course of the next 12 to 18 months.

Vestra Wealth has been trading since September 2008, and now runs almost £4 billion in assets under management, with 23 partners and a total headcount of 180.

Wealth Manager understands that Ahluwalia will start at Vestra in June. Once there, Ahluwalia will initially be employing his trans-Atlantic experience to support Vestra US Wealth Management, which launched in June 2013.

‘Rohit is an enormously experienced wealth manager, and will complement Vestra’s expanding skill set, in particular as we develop our offering to US expatriates,’ said David Scott, founder and senior partner of Vestra Wealth.

Ahluwalia added: ‘I am excited to be joining Vestra and be part of developing its international offering, particularly in developing solutions for its growing US expatriate client base. Vestra is one of the very few wealth managers with the capability to advise US citizens, who often have very complex investment and tax needs.’

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