UK wealth manager LGT Vestra posted a pre-tax profit of £16.5 million in its full-year 2019, according to its annual accounts which have just been released.

This is a 54 percent increase on the £10.8 million posted in 2018. Revenue also grew significantly, up 21 percent to £77.2 million.

Operating expenses increased at a lower rate, up 14.8 percent to £60.7 million (2018: £52.9 million). Average headcount up 6 percent to 275 staff.

Yesterday, it was announced that LGT Vestra’s parent LGT, the private banking and asset management group owned by the Princely House of Leichtenstein, would take a full stake in the firm...