The London-based boutique Vestra Wealth has received approval to open its first offshore office in Jersey, and partners Heather Tibbo and Paul Pollard have relocated to the Channel Island to become directors of the new operation.

Vestra Wealth (Jersey) will cater for the firm’s international and non-domiciled high and ultra high net worth clients. Tibbo and Pollard will head up the new business, which will be grown organically, a spokesperson for Vestra told WealthBriefing.

The firm has seen an increase in demand from international and non-UK domiciled clients of late, and therefore it was a natural progression to develop its Jersey offering into a dedicated business, the spokesperson said.

"We are very excited at being able to offer the same high levels of service and expertise to the Jersey market as we do in London. It will also allow us to provide a more focused service to our non-UK domiciled clients,” said managing partner David Scott.

Scott, a former UBS employee, founded the business – which is run as a partnership – back in 2008; it has since expanded considerably, now having £1.9 billion (around $3.1 billion) in assets under management and around 140 staff.