LGT Vestra, a provider of wealth management solutions, has renewed a contract with JHC Systems to keep the latter’s wealth management solution FIGARO as its core business system.

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FIGARO, which was first adopted by LGT in 2008, will support the company’s front, middle and back office processing.

The technology vendor said that FIGARO offers an intuitive and user-friendly platform, which supports strategic investment decision making, regulatory compliance, client relationship management, STP trading as well as settlement processing.

The wealth manger has recently also rolled out an upgrade of FIGARO, which includes various enhancements such as improved reporting of client portfolio performance and better regulatory compliance.

LGT Vestra IT director James Longstaff said: "We have made a strategic decision to continue to partner with JHC and its excellent FIGARO product. It is critical to the success of our business to ensure that we have a strong platform in place for future growth and to continue to deliver an exceptional service to our clients.

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"It is clear that JHC continues to invest in innovation and we look forward to working with JHC and to realising more of the benefits of FIGARO’s rich functionality. The recent software upgrade is an important milestone for LGT Vestra and our commitment to the future. JHC has delivered a successful, prompt and efficient FIGARO upgrade."

LGT Vestra, a part of private banking and asset management group LGT, offers investment management, wealth planning and private investment offices services from its offices in London, Bristol and Jersey. The company employs about 230 staff.