The privately-owned, Liechtenstein-based wealth management group Kaiser Ritter Partner has reported a 10.7 per cent drop in profit before tax in its 2010 first-half group financial results compared with the first six months of 2009, while its private banking profits doubled over the same period to SFr1.7 million (around $1.65 million).

Assets under management at the group’s private bank fell by SFr180 million to SFr1.6 billion as a result of the management of tax compliant assets, the firm said.

Assets under trust stood at SFr25 billion and the group’s consolidated turnover rose by 2.2 per cent year-on-year.

Kaiser Ritter Partner was formed from a merger in January 2006 between Ritter & Partner Holding and the Fritz Kaiser Group. It consists of eight companies including a Liechtenstein private bank and a fiduciary company.