Leaders List interview: 60 seconds with Peter Goddard, IMG Trust

Date: 03 Jul 2024

Karen Jones

This week’s 60-second piece is dedicated to Peter Goddard, Principal & Head of Private Client Services at IMG Trust.

Tell Citywealth readers a bit about your role.

I am one of the two principals of IMG Trust Company, which is a boutique trustee specialising in contentious trusts, philanthropy, and complex trust structures. We are a small team and that means that everyone has to be prepared to do everything associated with running our business, no matter how menial the task. My main role seems to be the (inadvertent) torture of our long-suffering in-house accountant!  

What does a typical day look like for you?

Up at 5.30 a.m. and answering overnight emails. Then, ideally, an early morning gym workout at home. A short 10-minute commute to the office, then usually one or two morning conference calls with clients and advisers. I prefer working in the office rather than at home, especially when the commute is so short! With such an early start, I normally clock off by 5 pm.  

Tell us about some recent, interesting client instructions you have received.

We act as directors of a foundation that has a $400 million fund to donate toward medical research aimed at the treatment and elimination of neurodegenerative conditions, such as Alzheimers and dementia. That has involved working with some of the leading academics in the US, including one Nobel prizewinner. With the assistance of AI technology, the hope is that there will be a time soon when we will be rid of these terrible afflictions. It is nice having some small part to play in that process.   

What challenges do your clients face and how are you helping your clients to overcome them?

The uncertainty surrounding the change in the UK non-dom taxation rules is the biggest challenge at present. We are finding that clients are taking precautionary measures to establish a secondary residence elsewhere, some here in Cayman, ready to relocate once the extent of the new regime is clarified.  

What is your proudest professional achievement?

Undoubtedly, my proudest professional achievement is establishing IMG Trust Company with my co-founder, Maxine Bodden Robinson, in 2022. We both felt that there was a niche in the market for an experienced trust company offering more personalised, lasting professional relationships with its clients as an alternative to the global service providers. We have made great strides in our first two years.

I am particularly proud of our name “IMG”, which are my late daughter’s initials: Isabella Mya Goddard. We used her initials to come up with our logo “In Manibus Grandis” (“In Great Hands”). Everything I do in the name of IMG I do for Belle.  

What do you consider to be the most important attributes for a leader?

A leader must lead by example. For me, that means treating everyone with respect and decency. I try to be the same person at work as I am at home. It helps if you know what you are talking about too! 

Who do you most admire and why?

I have come across several people in the charity sector whose dedication and altruism I admire greatly. Despite having suffered terrible personal tragedies, they were all inspired to set up and run charities to help others in the same predicament. I am always humbled when I meet them. 

Where was the last place you travelled to for work or pleasure?

I don’t like beach holidays, because I am lucky enough to live near one; and I miss the seasons. So my wife and I visit our home in Pembrokeshire. It’s a beautiful part of the world, no matter the weather or the time of year! 

If you weren’t in this industry, what else might you be doing?

5 years ago I would have wanted to be a rally driver. Now, as my driving skills diminish with age, I think I would probably work for one of the charities I have become involved with. 

How do you relax after a long day?

Normally, in the pool reading the Times on my iPad, with a well-earned gin and tonic! 

You can view Peter’s profile on the Leaders List here.