IFC Awards: shortlist spotlight

Date: 22 Nov 2023

Ashleigh John

On 24 January 2024, Citywealth will be hosting its annual IFC Awards, which celebrates wealth managers and advisors from the world’s leading financial centres. In the run up to the Awards ceremony, when our winners will be announced, we are getting to know some of the professionals who have been shortlisted for an award this year.

Citywealth spoke to a few of the shortlisted individuals to get to know them a bit more personally. This feature includes:

Dean Sowerby, Nedbank – shortlisted for Private Banker of the Year – Channel Islands & Isle of Man

Shelley White, Walkers – shortlisted for Lawyer of the Year – Litigation

Alfred Ip, Hugill & Ip – shortlisted for Lawyer of the Year – Litigation

Chris Cotillard, Alex Picot Trust – shortlisted for Trustee of the Year – Channel Islands & Isle of Man

James Morton, Lombard Odier – shortlisted for Private Banker of the Year – Switzerland

Gillian Christian, Keystone Law – shortlisted for Lawyer of the Year – Channel Islands & Isle of Man

Marnin Michaels, Baker & McKenzie – shortlisted for Lawyer of the Year – Switzerland

What is a current, top-of-mind consideration unique to the IFC you work in?

Dean Sowerby: The Isle of Man government is proactively looking to increase the working population on the island as part of its economic strategy. Although a relatively small island, the island offers a safe, stable and competitive tax environment, which has led to an increase in individuals looking to relocate and invest in the Isle of Man over recent years.

Shelley White: On the litigation front in the Cayman Islands at the moment, one of the key areas of discussion is returning to Court for ‘in person’ hearings. The temptation to continue conducting hearings remotely in the post-Covid era has been strong with many in the offshore world, and in the Cayman Islands in particular. However, there is now a drive – led by our Chief Justice Ramsay Hale – to get attorneys back into the Courtroom. This is of particular interest in the Cayman Islands because we have two Financial Services Division Judges who are based in the UK, which has perhaps facilitated the continuation of remote hearings in a way that might not otherwise have been the case.

Alfred Ip: A trust dispute involving Hong Kong, Cayman, London, Dubai and Sydney.

Chris Cotillard: MONEYVAL recently undertook an on-site visit to Jersey; the aim of which is to provide a health-check of the IFC and the Island as a whole to test the ongoing work being done to combat financial crime. At this time, we await the outcome of the Moneyval report which will provide recommendations or actions to further improve Jersey’s AML/CFT processes. What impact the findings will have on the IFC widely and us as a business is yet to be seen, but this is certainly a hot topic for Jersey in 2023 and going into 2024.

James Morton: Aside from the unseasonably warm autumn and the concerns around the snow for skiing (!), it seems that Switzerland is having to grapple with a seismic shift in the Private Banking landscape as the Credit Suisse and UBS merger is digested. This certainly led to questions around the attractiveness of the jurisdiction. I personally remain convinced that Switzerland is still at the top of the list for stability and gives unparalleled benefits to HNW and UHNWIs in the global wealth arena.

Gillian Christian: One of the current, hot topic considerations in the Isle of Man is regulatory compliance of the Trust and Corporate Service Industry as a result of Regulatory Investigations, which have led to enforced remediation and prohibitions. I have been actively involved in assisting large corporate clients and also individuals in working through this process.

Which personal quality would you say has served you best over the course of your career?

Dean Sowerby: Acting with integrity. Throughout my career, I have always taken great personal responsibility for advising my clients with integrity. I need to develop a deep understanding of the products and services – and their respective pros and cons – that I/my employer provides, before I am comfortable in recommending them to my clients. My ‘litmus test’ is to ask myself, ‘would I be happy providing this to a close friend or family member, like my parents’.

Shelley White: The quality that has served me best over the course of my career is being a strong communicator. Being a strong communicator is critical to making yourself understood and articulating good arguments; this is particularly important for advocacy, both orally and in writing. Strong communication is also key for client relationships; in our business people don’t like surprises, and the best way to avoid that is to give them excellent visibility of what is going on in their case by way of regular and well thought-out communication.

Alfred Ip: Patience!

Chris Cotillard: Focusing on goals and having belief in my ability to get there have been the foundations upon which my career has progressed over the past 17 years. This in addition to heeding the advice given to me by those around me who have my best interests at heart and in most cases have a shared vision for Alex Picot Trust.

James Morton: Empathy. The ability to relate to clients at all stages of their wealth evolution with the necessary tool box of knowledge to provide emotionally in tune advice.

Gillian Christian: I’m firm but fair. Perhaps the quality that stands me out from the rest is that I am fiercely protective and like to see justice being done for my clients for the right reasons.

Marnin Michaels: Being disagreeable. It allows me not to worry about what others think and be more creative as a result.

Tell us about something new that you’ve tried recently outside of work.

Dean Sowerby: Having spent too many years playing squash, 5-a-side, running and cycling, I have been looking for a new sport that is slightly less ‘gladiatorial’ on my aging body!  In the last month, I have just come across a game called Pickleball.  It’s a 4-person, indoor racket-sport played with paddles, a plastic ball and a net.  It’s great fun, so much so that I have just set-up a new WhatsApp group at work to get some colleagues playing too.

Shelley White: This week I went to a wine tasting and tried my first English “Champagne”. It was the Sandridge Barton Blanc de Noir 2020 and was presented here in the Cayman Islands by the owners of the Sandridge Barton vineyard in Devon where it is made. It was excellent and I thoroughly recommend it!

Alfred Ip: Run half-marathon, and try to push myself to a full marathon!

Chris Cotillard: I was asked to join a group of people in forming a new local charity and bring my board and trustee experience, and financial knowledge, to enable the charity to get up and running. I took the chance to venture into the third-sector in a formal capacity for the first time and have found this to be a very rewarding experience. I am thoroughly enjoying being a part of the Jersey Stroke Support committee and have learnt a great deal about the challenges faced by those who suffer a stroke and how the charity can make a huge difference to those Islanders affected.  Certainly a new experience for me!

James Morton: Gardening – having just moved from the middle of the city to the countryside, I have new found green fingers at the weekends. I would certainly put it into the ‘activity’ bracket as opposed to a ‘hobby’, a never ending ‘activity’ at that!

Gillian Christian: I’m a volunteer Chairperson of FC IOM, the first IOM football team to compete in the English Football League – as a result my family come with me to most games and I’ve even had my son dressed as the team mascot – a very large teddy bear. It’s been an incredible learning experience and a fantastic community initiative for the Isle of Man.

Marnin Michaels: I recently became a father for the second time. Kids can be very humbling. Also, I’m taking language lessons daily. Its good to expand outside of work.

Winners of the 2024 Awards will be announced at an exclusive event at the Leonardo Royal on 24 January 2024 and tickets are available to book here. Any questions about the Awards can be directed to Yipei Dong, ydong@citywealthmag.com.