Top Ten HNW Wealth Manager
Spear’s checks in on Bandish Gudka during the lockdown, and he is thrilled to talk. ‘In a really macabre sense, this half of the year is probably going to be my best half of the year I’ve had in a decade,’ he tells us. LGT Vestra’s star performer, and our 2017 HNW Asset Manager of the Year, says his mandates worth £80 million in the first quarter bring his total book to approximately £500 million.
Gudka built this from scratch when he joined Vestra eight years ago, and he reveals that 99 per cent of the recent expansion comes from referrals. ‘If clients can trust you when the storm is hitting your shore, and they have that much confidence in you to say, “Look, we trust you to take that next step further,” that’s a big endorsement,’ he says. Gudka’s reputation for client service and ability to speak seven languages aside, his market foresight is also appealing. He’d been discussing risk management and portfolio protection with his clients in January when Covid-19 began unfolding in the Far East.
He recalls staying up until 3am for a week to draw a list of ‘robust’ assets for a client during the period when markets dropped by 32 per cent. Weeks later, his portfolio took a 4 per cent hit compared to benchmarks that were down 19 per cent. Gudka vividly remembers the client’s reaction: ‘He said, “Oh, it’s bloody awesome!”’