60 second interview with Katherine Ellis, Boston Multi Family Office
Citywealth spoke to Katherine Ellis, CEO of Boston Multi Family Office following the successful MBO in late 2019 to find out more about her daily life and client instructions.
Tell me about your role.
I am CEO of Boston Multi Family Office, with responsibility for setting strategy and leadership for our business across our offices in the Isle of Man, Malta and Dubai.
What does a typical day look like for you?
With plenty of travel either between the offices or visiting existing clients and new business opportunities, every day is varied – which is what keeps it interesting and why I love my job. The best thing about the role is the interaction with people, whether that be with Boston teams or our clients.
Tell us about interesting client instructions.
We specialise in providing a family office approach to private client fiduciary services so there are plenty of interesting instructions involving either next generation succession planning for complex international families or providing governance and structuring for international and cross-border trading structures. I can’t go in to too much detail on specific instructions, but an interesting one this year relates to a yacht sale in Italy where the Notary requested that we attend the completion meeting at his office in Italy. We were flown to Italy in the client’s private jet and were back on the island [Isle of Man] later that day.
What challenges do your clients face and how are you helping your clients to overcome them?
The typical entrepreneurial private client is extremely busy in their business and so it’s often a challenge for them to ensure all their assets are sufficiently organised and they have the appropriate reporting structure in place. We have experience and expertise in all aspects of fiduciary matters including the administration and management of investment vehicles such as trusts, foundations and companies as well as the management of luxury assets such as yachts, aircraft, cars and art. We can source tax and legal advice to ensure a confidential, flexible and rigorous solution to the challenge of protecting and preserving family wealth.
What is your proudest professional achievement?
Without a doubt the completion of the MBO of Boston Group in late 2019. It was a year of incredible hard work but with the best team in place, both within the office and advising and funding the transaction, I am incredibly proud that we achieved it. I am extremely excited about the next phase of Boston.
What do you consider to be the most important attributes for a leader?
Integrity, passion for the business and the team, and an unswerving work ethic.
Where was the last place you travelled to for work or pleasure?
The last place for work was London which is a regular work destination for me. The last place for pleasure was Lanzarote at half term with family and friends.
If you weren’t in the wealth management industry, what else might you be doing?
I think I’d like to have been a party planner, or perhaps a ski instructor.
How do you relax after a long day?
I love to spend time with my children and nephews; there is nothing like young children to give you a good dose of perspective on what is really important in life.