Citywealth Autumn Roundup 2023
Insights on artificial intelligence, investment into alternative assets, and international updates from the USA and offshore jurisdictions. All of this and more from Citywealth’s editorial output this Autumn – here are the features published on citywealthmag.com in September, October and November 2023.
Jersey, Guernsey & Isle of Man updates
New initiatives and corporate developments have been coming out of these 3 mainstays of the wealth management and financial services industry at a rapid rate. Citywealth speaks to the island professionals to gain further insights into the updates and trends from these jurisdictions.
Notes from the Editor
Citywealth CEO and Editor Karen Jones provides her summary of top-of-mind trends and concerns seen in the wealth management industry today. She highlights ESG wins and woes, UK and US election unrest, succession politics, and more.
Addressing alternative assets
From wine and whisky to supercars and speedy horses, there are plenty of investment avenues investment for UHNW individuals that aren’t your usual stocks and shares. Citywealth takes a dive into a variety of alternative investment markets to get the low-down on where the ultra-wealthy may want to pad their portfolios.
Following a summer of art fairs around the world, such as Frieze and Art Basel, Citywealth takes the temperature of the art market through the lens of wealth management professionals and their UHNW clients.
With the ‘debt crisis’ and 2024 Presidential election commanding the news outlets’ attention, we asked experts working in the US market to help us to not only uncover the reality behind the big headlines, but reveal the things we may not be hearing about when it comes to impacts on the wealth management market.
Dealing with multi-generational families has always been an impressive balancing act, but how are the socio-economic circumstances of our current world changing the wealth management landscape? As populations age, does the currency of experience stand up against increasingly accessible education for the younger generations? Citywealth investigates the increase in disputes and how they’re dealt with.
It is no secret that artificial intelligence is here to stay in the wealth management industry, but the question of ‘friend or foe’ still hangs in the balance. In this feature, we investigate existing implementations, the importance of distinguishing between data management vs generative AI, impending compliance requirements and more.
Events & Awards
Winners of the Future Leaders Awards 2023
Following a fantastic night at the Future Leaders Awards ceremony last week, Citywealth reflects on the evening’s events and interviews a few of the individuals who went home with an award.
Winners of the Brand Management and Reputation Awards 2023
Citywealth was pleased to register such a successful evening at The Great Scotland Yard Hotel, recognising the stars of the brand management and reputation industry.
Magic Circle Awards 2023
Citywealth was delighted to register a great success for its 18th edition of the Magic Circle Awards, where leading professionals from the top firms were recognised for their achievements in the wealth management sector.
Powerwomen Awards 2023 – New York
Report and Pictures
The Citywealth Powerwomen Awards 2023 – New York took place in person at the Deutsche Bank Center in the heart of The Big Apple, on March 7th 2023, with Jan Hopkins as host.
Awards & Club News
Citywealth was delighted to host such a successful evening for its 2023 edition of the Powerwomen Awards, which aimed at championing women in the wealth sector and highlighting the female leaders of today and tomorrow. The awards celebrated individuals and companies who constantly support caregiving responsibilities, female leadership and diversity
The 7th Citywealth Future Leaders Awards took place in person at 12 Hay Hill Members Club, Mayfair, on 16th November 2022, with Emmanuel Sonubi as host.
Citywealth was pleased to register a great success for its Brand Management and Reputation Awards 2022 which took place in person at 12 Hay Hill, in the heart of London, on 21st June 2022.
HMRC launches new campaign to pursue unpaid tax from crypto investors
HMRC has launched a new campaign to encourage people to come forward and disclose any unpaid tax on crypto assets such as exchange tokens, NFTs and utility tokens.
Crypto updates from our CEO
Citywealth CEO and crypto enthusiast Karen Jones summarises recent news and events arising out of the digital asset industry.
The three-year story of Zodia Custody
Chief Risk Officer Anoosh Arevshatian and Head of European and MENA Sales Gerry Afentakis of Zodia Custody spoke at the recent Citywealth Crypto Club. Attendees heard the story of what brought this institutional venture to where it is now, and how far it's planning to go.
Henley & Partners publishes the World’s First Crypto Wealth Report
There are 88,200 crypto millionaires worldwide, with just under half (40,500) holding their fortunes in Bitcoin, according to the inaugural Crypto Wealth Report published by leading international wealth and investment migration specialists Henley & Partners.
As regulation creeps into crypto whether by retrospective enforcements or government design, having partners to work with in the space is crucial for peace of mind.
Citywealth launched its Crypto Club on Tuesday 29th March, part of their series of Clubs to help networking in the private wealth industry. Aimed at safe adoption of crypto with institutional size private clients, the membership club, which will meet four times a year, heard NFT speakers BlockBar talk about their proposition.
Leaders List Interviews
Leaders List interview: 60 seconds with Chris Bliss, Rawlinson & Hunter
This week’s 60-second piece is dedicated to Chris Bliss, Consultant at Rawlinson & Hunter.
Leaders List interview: 60 seconds with Jayesh Jethwa, Quastels
This week’s 60-second piece is dedicated to Jayesh Jethwa, Partner at Quastels.
Leaders List interview: 60 seconds with Vikash Gupta, VAR Capital.
Leaders List interview: 60 seconds with Vikash Gupta, CEO of VAR Capital.
Leaders List interview: 60 seconds with Hannah Roynon-Jones, Alex Picot Trust
Citywealth speaks to Hannah Roynon-Jones, Director at Alex Picot Trust.
Luxury Lifestyle News
British contemporary visual artist and sculptor Kate MccGwire has joined forces with Parisian Co-Lab369 to launch a series of limited-edition, artist-designed scarves.
Enjoy seasonal martinis, special offers on boutique shopping, and carols sung by the cast of Les Misérables all in one convenient location this December.
In honour of Formula 1’s return to Las Vegas this past weekend, the Swiss luxury watch maker has launched this limited edition product, decked out with all of the glitz and glam reminiscent of the Vegas strip.
Leading integrated wellness destination RAKxa has announced their new ‘Rebalance’ programme; an integrative 6-day retreat focused on complete holistic health. Surrounded by lush Thai scenery, the programme helps to provide an opportunity for serenity and a return to equilibrium.
Going green in Asia
Citywealth CEO Karen Jones speaks with Simon Hopkins, CEO of Milltrust International, on their unique approach to ESG.
French ISR funds directed to divest €7bn from traditional energy sector
From 2025, funds already using the ISR label will be banned from investing in companies involved in new projects related to the exploration, exploitation, and refining of fossil fuels, whether conventional or unconventional.
CCLA Investment Management launches Modern Slavery Benchmark
The benchmark is designed to assess the UK’s largest companies by market capitalisation on how they are taking steps to eradicate modern slavery in their operations and supply chains. According to the report, 26% of companies identified modern slavery in their supply chain and disclosed it publicly.
EVPA publishes new report on corporate social investing
The report, entitled ‘Putting the S in ESG’, explores the relationship between corporate social investments and companies’ ESG strategies. With input from 28 experts and practitioners, EVPA asks and answers the question: how do CSIs contribute to the S of their related company’s ESG strategy?
The Charity Commission has published updated investment guidance for charity trustees (CC14), which reflects findings from the Butler-Sloss judgment and incorporates the previously separate guidance from the Commission on social investment.
A recent survey of chief investment officers by McKinsey shows that, whilst major investors believe that ESG is important, they need greater clarity about the ESG value proposition, as sustainability aspirations or metrics on a page without context are not sufficient to link initiatives to cash flow.
The Growth Impact Fund (GIF), developed by Big Issue Invest and UnLtd, has announced its second close at £1.75m, following £1.5m of funding from Macquarie Group Foundation and £250k from BD Giving. The GIF has provided a further £500,000 in investment to two social purpose organisations, taking the Fund’s total investments made to £1m.
Wealth management firm Julius Baer has partnered has committed to reducing the carbon footprint of its business travel by purchasing sustainable aviation fuel. It is the first financial institution to partner with Swiss International Air Lines (SWISS) and the Lufthansa Group to help develop this alternative energy resource into a mainstream market.
Top 40 Disputes and Defence Professionals 2023
Citywealth is pleased to present its Top 40 Disputes and Defence Professionals list for 2023. With a cold wind across the world, Citywealth's editorial team provides a round-up of key professionals protecting assets, clawing back funds and separating fact from fiction in high stakes global disputes.
Top 100 Global Tax Professionals 2023
Utilising more than a decade of research from our Leaders List and editorial output, Citywealth has compiled a list of top tax professionals across the world. A network that comes highly recommended by our community private wealth community, we highlight the tax advisors with succession, compliance and ESG factors in mind.
Top 50 Crypto Professionals
The Citywealth Top 50 Crypto Professionals celebrates the trailblazers in the cryptocurrency and digital assets industry. This Top List has been independently curated and thoroughly researched by Citywealth.
NextGen Top 15 Family Lawyers 2023
Our NextGen Top 15 Family Lawyers 2023 is an independently researched and curated list featuring the best and brightest family lawyers climbing the ranks of the UHNW and private client industries.
Top Recommended Lists
Citywealth is pleased to present our NextGen Top 40 Under 40, a top-rated list of the rising stars in the wealth management industry. Our top list is based on recommendations from clients and peers, through independent research conducted by Citywealth.
Citywealth is pleased to present our NextGen Top 40 Under 40 – IFC, a top-rated list of the rising stars in the wealth management industry from the leading international financial centres. Our top list is based on recommendations from clients and peers, through independent research conducted by Citywealth.
The Top 100 International Private Client Litigation Lawyers 2023 is a research-led list highlighting the ‘need to know’ litigation lawyers in the wealth management and private client industries.
Magic Circle Awards 2023
The Magic Circle Awards 2023 leading professionals from the top firms were recognised for their achievements in the wealth management sector. Attendees included leading law firms, trust companies, family offices, tax advisers and investment managers.
PowerWomen Awards 2023 - New York - USA
Citywealth was delighted to host the 1st Powerwomen Awards in New York/USA, which aimed at championing women in the wealth sector and highlighting the female leaders of today and tomorrow.
IFC Awards 2023
Success! This is the word we can use to define the IFC Awards 2023 Gala Night, during which Citywealth celebrated the best achievements within the International Finance Centre.
Citywealth is delighted to open its seventh-year awards programme to champion young professionals in the wealth sector and highlight the leaders under forty of today and tomorrow.
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