Category: Uncategorised
60 second interview with Rosalyn Breedy of Wedlake Bell
In our 60 second interview series, Rosalyn Breedy, partner at Wedlake Bell speaks to Citywealth about the growth of entrepreneurialism within the private client industry.
read moreThe yacht industry opens its doors to the instagram generation
The superyacht sector is flourishing both in terms of new build orders and second hand sales. Yet there is a looming challenge for the industry: how to attract the next generation of buyers and demonstrate yachting is a past time for all generations.
read more60 seconds interview with Hazar El-Chamaa of Penningtons Manches
In our 60 seconds interview series, Hazar El-Chamaa, immigration partner at Penningtons Manches, speaks to Citywealth about the importance of offering holistic advice to HNW clients.
read moreDutch foundations find favour in wealth industry boost
The Dutch private wealth market has found itself in favour as an increasing number of families from civil law countries worldwide look to consolidate their assets into Dutch foundations.
read moreFrance and Monaco: Nous saluons le retour
Since his election in May 2017, French president Emmanuel Macron has worked to reverse France’s reputation as a country that levies excessive taxes on the wealthy and is anti-business.
read more60 seconds interview with Wayne Elliott
Families flow with Stonehage Fleming, 60 seconds interview with Wayne Elliott, Director Family Office Division in Neuchatel
read moreFocus on Powerwomen and debunking gender myths
Citywealth is proud to support #Powerwomen in the private wealth management industry. Herewith our selection of past interviews with our IFC Powerwomen to celebrate their achievements and as an introduction to some of Citywealth’s 2019 contenders for our #Powerwomen awards.
read more60 seconds interview with Jonathan Burt of Harbottle & Lewis
Jonathan Burt talks about his work with private clients in the modern world of financial transparency. He says he tells clients that the clue to the word “trustee” is in the name; they have to trust their trustee and accept that a trustee will be part of a family’s lives for a very long time.
read more60 second interview with Alistair Peel, owner and director at Strabens Hall
A 60 second interview with Alistair Peel, owner and director at Strabens Hall financial advisors who recommends that you ‘Be who you really are’.
read moreCayman’s new foundation companies hit the ground running
At the end of 2017, the Cayman Islands introduced a new legal vehicle called the foundation company, essentially a company with separate legal personality that can function like a civil law foundation or a common law trust
read more60 seconds interview with Louise Bracken-Smith
Louise Bracken Smith of the Fairway Group talks to Citywealth in our 60 second interview slot about Curiously Elastic Limits of Human Performance and being a MoMe.
read moreBermuda updates trust laws
The private client market in Bermuda has seen a significant increase in high-profile trusts cases thanks to several recent legal updates that have made the jurisdiction attractive
read moreGeneva embraces change and steps up
Advisers to the wealthy in Geneva are busier than they have been for some time and are predicting a further uptick in work when the regulation of trust practitioners
read moreCyprus v Malta: Energy and crypto trends
Malta and Cyprus have much in common, as two islands in the Mediterranean that are both members of the European Union and were once renowned for their popular citizenship by investment programmes. Both countries continue to attract a steady flow of the world’s wealthiest families to their shores, an
read moreZurich attracts crypto wealth
Zurich is benefitting from the cryptocurrency phenomena, thanks to its proximity to the small canton of Zug, dubbed crypto valley, which is fast emerging as a global hub for initial coin offerings.
read more60 seconds with Bernard Vischer
Bernard Vischer, head of private clients at Swiss law firm Schellenberg Wittmer tells Citywealth about his life and keeping things simple.
read moreFamily: Transgender and the law
In 2017 the phrase ‘trans revolution’ started to rise in consciousness, as the understanding of transgender people has become increasingly visible in the media.
read moreWhen Paradise turns to hell: Eruptions of the Panama kind
This month marks the second anniversary of the Panama Papers. What has the private wealth industry done since to protect their clients and themselves from another data leak?
read more60-second interview: James Dickinson
James Dickinson, managing partner at Dickinson Gleeson, talks about his work and tells us about his father’s advice: “the greatest risk in life is to take no risk at all”.
read moreCitywealth speaks to Kelly Whiter
Citywealth speaks to Kelly Whiter, partner at Fladgate, law firm about her work and Unexplained Wealth Orders.
read moreIsle of Man turns into ‘tech island’
The Isle of Man, which its picturesque scenery and high quality of life, used to be a place to which the wealthy retired in search of tax savings and advisers who could help them manage their riches. But life has changed, with the island’s government moves to attract entrepreneurs.
read moreUK taxation. Not so bad after all.
Film industry tax investment schemes that were once the holy grail have since left many badly burnt. So what tax incentives are there for UHNWs?
read moreNo photos please!
With all eyes on Prince Harry and Meghan Markle in the run-up to the royal wedding, media and public interest in the royal-couple-to-be is at an all-time high. So what can they do to protect their privacy and reputation?
read moreCitywealth speaks to Robin Rathmell, Kobre & Kim
Citywealth speaks to Robin Rathmell, of US law firm Kobre & Kim about protecting assets of UHNWs in the case of government forfeiture.
read moreCitywealth speaks to Kevin Lee
Kevin Lee, partner at Hong Kong law firm Zhong Lun, tells Citywealth about his work and says increasing compliance will mean less commoditisation.
read moreSocial impact: What are we here for?
Impact investing is on the rise. It offers diverse choices for investors in terms of risk, financial and impact returns, and the pace of growth is rapid.
read moreRegulation becomes The Opportunity for Guernsey
In an innovative move in mid-March, Guernsey Finance led a delegation of the island’s professional services firms to New York, seeking to capitalise on what they see as a growing opportunity for Guernsey to attract business from wealthy Americans.
read moreCitywealth speaks to Liz Bottomley
Liz Bottomley, managing director, Private Banking at Arbuthnot Latham, tells Citywealth about life, her team and stepping in when clients need her.
read moreGrowing female wealth
One of the key changes in the private wealth industry is the rise in the number of female clients, which is mainly down to increasing female wealth. Michelle Andrews, head of Premier and Wealth Insights at HSBC, tells Citywealth about her growing base of wealthy female clients.
read morePass-the-parcel private equity deals reach fifty percent in USA
Although quality deals evaded the private equity sector in 2017, global buyout value including add-on transactions, grew nineteen percent to $440 billion, supported by large public-to-private deals which usually entails delisting from stock exchanges to avoid pressures of quarte
read moreThe meteoric rise of post death challenges to wills
There has been a sharp rise in challenges to wills over the past ten years, which is mostly down to the fact that more and more people have second and third families in their lifetime, and problems arise where there is open animosity between surviving spouses and children.
read moreCitywealth speaks to Heather Tibbo
Heather Tibbo, head of Family Office Services at Crestbridge, says that thanks to its close relationship with the UK, Jersey could become a bridge between the UK and Europe after Brexit.
read moreJersey amends trust laws to stay ahead of the competition
Jersey is on the brink of approving another set of amendments to its trust laws, as it continues to innovate to stay ahead of rival jurisdictions targeting work for private clients.
read moreCitywealth speaks to Tina Wustemann
Tina Wustemann at Swiss law firm Bär & Karrer tells Citywealth about her journey to the top and the rise in ‘patchwork families’.
read moreThe challenge of tech
Despite the high cost of development and implementation of fintech, investment into new products is on the up. This is why.
read moreCitywealth speaks to Jennifer Wioncek
Jennifer Wioncek, Bilzin Sumberg, says patience is a virtue; remain positive and learn how to delegate.
read moreTrump’s tax tsunami
While generally seen as a good thing for HNW individuals, Trump’s tax reforms have heralded a wave of rethinking and revisiting of structures among America’s richest families, and wealth advisers say they have never been busier.
read moreMoney returns to Hong Kong and Singapore
The Asian wealth management centres of Hong Kong and Singapore report high net worth families refocusing their investments back into the region, after years of channelling assets into North America and the UK.
read moreDivorce: clean break vs maintenance?
With the latest trend for revisiting financial settlements in divorce – or “top-ups” – Citywealth wondered whether a clean break is preferable to ongoing spousal maintenance which leaves parties open to requests for more money. It turns out the options are wider than it at first seems.
read moreCitywealth speaks to Stephanie Auferil, founding partner at Arkwood
Stephanie Auferil, founding partner or French law firm Arkwood which was founded in 2015, tells Citywealth about the steps France is taking to benefit from Brexit.
read moreCitywealth speaks to Alpa Bhakta
Alpa Bhakta, CEO of Butterfield Mortgages Limited, tells Citywealth about the current mark down of prime London property causing constriction for re mortgaging.
read moreIslamic financing grows in strength in UK
Although Sharia-compliant investment has had a presence in the UK for over thirty years, it has developed more during the last decade. Britain now has twenty institutions offering Islamic finance services including five fully sharia-compliant banks.
read moreGermany and China make music together
As Germany’s central bank has decided to include China’s currency, the yuan, in its foreign exchange reserves, Citywealth it taking a closer look at the affinities between the two manufacturing countries.
read moreFive-minute interview: Alison Broadberry, head of private client, Edwin Coe
Alison Broadberry, head of the private client team at Edwin Coe, tells Citywealth about trends in the property market and why she thinks the UK private wealth industry will thrive despite Brexit.
read moreDrunk February beckons
The UK wine industry is on the rise, with data suggesting the turnover has trebled over the last five years from £55.7m in 2011 to £132m by the end of 2016. Is this the right time to invest in British wines?
read moreCitywealth speaks to David Cadin
David Cadin, managing partner at Bedell Cristin in Jersey, tells Citywealth about his return to litigation work.
read moreDo you need to declare your cryptocurrency to HMRC?
“If you have sold, gifted or spent cryptocurrency in the tax year ending 5 April 2017, you may need to declare any profit or gains on your self-assessment tax return due 31 January 2018,” writes Helen Cox, managing associate at Mishcon de Reya.
read moreAll I want for Christmas is…$450m Da Vinci painting
With Christmas round the corner, Citywealth asked Joshua Rubenstein at Katten Muchin Rosenman, Richard Hart at Pinsent Masons and Fred Clark Boodle Hatfield to share with us their letter to Santa.
read moreLow-hanging fruit in Switzerland
Switzerland’s private wealth advisers are increasingly looking to work for families based within the country’s borders, as they struggle with the strength of the Swiss franc.
read moreSingapore revenue law proves a challenge
Singaporean private clients warm to succession planning but demand customised legal advice to blend business with their personal lives, says Joanna Yap, partner at Withers KhattarWong.
read moreHedging your bets on China
Last summer, Greater China hedge funds had bounced back from their worst performance in five years beating the majority of global hedge funds. Citywealth investigates.
read moreBrexit is cooling investors’ interest in the UK
Daniel Freedman, managing director and co-founder of London & Capital tells Citywealth about his US clients’ Brexit worries, and how tech can boost the private client sector.
read moreFoundation law approved in Gibraltar
Earlier this year, Gibraltar’s parliament approved a bill to introduce private foundations, after advisers locally lobbied the government to add the legislation to the jurisdiction. Foundations are increasingly seen as a popular alternative for HNWs from civil law backgrounds.
read moreDivorces: litigation vs. negotiation
Divorce is a topic that sets pulses racing and never fails to elicit comments for good or bad. Setting some families at war, it can also be dealt with calmly through mediation. But what is the cost to the outcome? Will you be richer or poorer? Marcela Kunova investigates.
read moreSmoothing feathers in sibling rivalry
Patricia Sykes, partner at Hunters, tells Citywealth about trends in the UK property market, the young generations’ involvement in wealth management, and advising a client about moving money to Australia to escape a nuclear war.
read moreRobo wars: commoditizing wealth
Many organisations in wealth management now run fintech incubators or accelerator programmes to identify, develop and promote innovative start-ups. Citywealth investigates.
read moreSuccession law revolution in Monaco
Monaco unveiled a revision of its succession laws which until this year had been the subject of dissent. The reason was that Monaco, is a civil law country, and, under civil law, descendants had certain rights that international families often didn’t want to follow. What does it mean to UHNWs?
read moreMulti-generational entrepreneurs
The main difficulty with a family business is to ensure the continuity of activity throughout generations. Citywealth spoke to Nicolas Mirabaud, Alexander Hoare, Jonathan Giles at Rathbone Investment Management International, and Khaled Said, about joys and pains of running a family business.
read moreFrankfurt, Brexit? Which way will the kuchen crumble?
Citywealth decided to test the temperature as the dust settles on the Brexit referendum to see if Germany will benefit long term.
read moreKeeping one step ahead of client demands
Alexander Dickinson, partner at Bond Dickinson, tells Citywealth about the merger with US firm Womble Carlyle and trends in the private client sector.
read moreUK Gov revisits sukuk to continue Islamic Finance growth
Brexit will bring many changes to the legal sector which will have an impact on the Islamic finance industry. However, there is also an upside.
read moreThe winding journey of client affairs
Paul Davidoff, partner at Moon Bever, tells Citywealth about his client instructions, challenges posed by cryptocurrencies, and his bike riding.
read moreLondon becomes go-to advice hub for global UHNW clients
Salpy Kouyoumjian, partner at Boodle Hatfield, tells Citywealth about her work, trends in sharia-compliant wealth structuring in the UK and offers positive Brexit thoughts.
read moreFresh eyes on the Isle of Man
With a personal tax liability cap of £125,000 per year, a top rate of personal tax of twenty percent, and no capital gains or inheritance tax, the Isle of Man’s Department of Economic Development is working hard to attract more businesses and UHNWs to its shores.
read moreNew wealth: tech innovation and…dinosaurs
Despite Trump, Brexit and British politicians taking a few right hooks to the chin, the clear message arriving at Citywealth HQ is that the private client industry has had a high growth year. This is confirmed by company accounts and by the voracious appetite to hire.
read moreKeeping onside with the taxman
David Kilshaw, tax partner and head of the family office practice at EY, tells Citywealth about winning a heavyweight boxing champion as a client, trends in the trust sector, and his football club.
read moreDivorce trends? Financial settlement “top ups…”
Women were now the main breadwinner in forty-one percent of homes in the UK with men stating they were happy to be ‘house husbands. As women take the helm of their personal wealth, Citywealth wondered what this meant in terms of changing trends for settlements and the ‘divorce industry.’
read moreHMRC payment tactics move up a gear
Robert Macro, partner and head of the international wealth and fiduciary team, Druces tells Citywealth about his recent client case involving HMRC penalties, his concerns about overly complicated regulation, and future trends he sees in the private client industry.
read moreReputational risk of philanthropic giving
The charities with which you align yourself can be hugely revealing about you and your values, and it’s important to consider this in line with public perception. So, what to do?
read more“Clients rarely make money overnight”
Frederick Bjørn tells Citywealth about the peculiarities of the Scandinavian private client market, opportunities arising from the UK non-dom changes, and what he enjoys and worries about being a judge at the upcoming Citywealth Future Leaders Awards.
read moreGlobal trust company v independent?
Globalisation has taken a knock with the Brexit referendum but is internationalism an unstoppable force with the advent of the internet and ease of travel? The trust industry similarly has seen unprecedented buyouts to offer “one brand” to global clients but is that an easy concept to manage or will
read more60-second interview with Trevor Warmington, director at Rawlinson & Hunter
Trevor Warmington tells Citywealth about international individuals who are still moving to the UK despite Brexit worries, UHNW clients who expect answers and solutions increasingly quickly, and his river boat commute to the office.
read moreGibraltar finds itself in the spotlight
Despite Gibraltar’s opposition to Brexit in last year’s EU referendum, the jurisdiction is now jostling to be a gateway to the UK for businesses and high net worth individuals working in the EU.
read moreRussians think twice
With the Russian currency struggling, high real-estate acquisition costs in the UK, uncertainty around taxation of non-doms and Brexit worries, there has been a slowdown in immigration and related tax advice from Russia.
read moreBuying art? Beware the ‘unlucky seven’
The lack of regulation in the art market continues to cause concern for buyers, due to lack of transparency. So what is the art market doing to reassure them?
read more60-second interview with Frances Hughes, senior partner at Hughes Fowler Carruthers
Frances Hughes talks about tax crackdowns by HMRC that have impacted the private client industry, her case involving an African customary marriage, and what changes to family law and private client work she expects after Brexit.
read moreFive-minute interview with Andrew Young, head of private client services, Davidson & Co Legal Consultants
Andrew Young talks about the growth of single family offices in Dubai and local clients who seek offshore structures to avoid sharia succession law applying.
read moreGuernsey: Equiom sets its sights on the USA with local acquisition
Guernsey fiduciary market is getting from strength to strength, with Equiom’s acquisition of Virtus Trust Group, and Estera that has taken over Morgan Sharpe and Heritage Financial Services.
read moreDo Chinese UHNW need Western financial services?
Gaining wealthy Chinese UHNW clients has been a long-term target market for the private wealth industry globally, so we wondered what that meant for Western financial services. Will China leap frog Western players or is there lucrative investment work to be had?
read moreInvesting in cars: fuel for thought
Although cars have taken a knock and been outperformed in investment terms by wine in the last year, there are still opportunities for a handsome return if you know where to look.
read moreIsle of Man wins rich Middle Eastern clients
Middle East, India, China and Brazil are growing sources of business as HNWi’s from those markets seek to invest in the UK with Isle of Man advisers.
read more60-second interview: Charles Pike, consultant at Forsters
Charles Pike talks about challenges his clients face because of increase in regulation, how the UK can benefit from Brexit, and reveals the name of his favourite football club.
read moreThe war for talent
As the wealth industry has matured, so has its understanding of client succession. But the industry is also rising to a new challenge, upskilling their employees to be future leaders.
read moreBrexit causes anxiety in Hong Kong
Advisers to high net worth individuals in Hong Kong have found themselves in the eye of an international storm and it is political uncertainty in the United Kingdom and the United States that is keeping everybody busy.
read more60-second interview with Khaled Said, founding partner, Capital Generation Partners
Khaled Said tells Citywealth about how his own experience as an investor is helping his client work, whether the UK will benefit from Brexit, and his successful business strategies.
read more60-second interview: Nancy Curtin, CIO, Close Brothers Asset Management
Nancy Curtin tells Citywealth about the need for clients to have a change in their thinking as investment returns flatten out and they are living longer also about her charity work supporting childrens education with her husband, each year in Cambodia.
read moreChina will account for 900 jet deliveries in the next decade
Toby Joy, associate in London and Denis Petkovic, partner in Hong Kong office, Withers talk about the growth in pre-used jets
read moreGulfstream $70mn ultra-long range jets grow in popularity
Steve Cain, Director of VAT and Captain John Hills, Aviation Consultant at Equiom say the negative perception the Chinese government have built up with the aviation industry will be difficult to shift
read moreA rise in oil prices benefits jet purchases
David Dixon, President Jetcraft Asia says he sees a wave of first-time sellers upgrading to new aircraft types
read moreNext big thing: Chartering in China at US$12,000 – US$17,000 per hour
Leona Qi, who is president of Asia at VistaJet, says chartering is a major trend in China to sidestep Chinese government regulation
read moreCentral and Eastern European UHNW spring up in Cyprus
When President Putin signed the de-offshorisation law in November 2014, forcing Russian citizens and companies to pay tax in Russia on earnings made by foreign-registered entities, all that changed.
read more60-second interview: Tim Childe, head of Quilter Cheviot’s Jersey office and head of international
Tim Childe tells Citywealth how Dubai will benefit from Brexit, what changes he sees in the financial sector in the Middle East, and how the use of digital media to communicate with intermediaries and clients transformed the private client industry.
read moreWill you have my baby?
The rise of surrogacy as an option for starting a family has turned into an industry that is now worth billions of dollars. But there are many obstacles that commissioning parents must consider.
read more100 days of President Donald J Trump
When Donald Trump took office on 20 January 2017, he resolved to tackle every aspect of US politics head-on. What does the private wealth industry make of his presidency 100 days on?
read moreMalta steps up its appeal to international private clients
When Malta introduced its citizenship by investment programme back in 2014, it could not have imagined the transformative effect it would have on the islands’ wealth management industry.
read more60-second interview: Elias Neocleous, managing partner, Elias Neocleous & Co
Elias Neocleous talks about his law practice and how Cypriot wealth industry may benefit from Brexit.
read morePost Panama: plan for change and controversy
A year ago the Panama Papers dominated newspaper headlines and have caused a flight of capital and damaged the jurisdiction immeasurably. But where did the money go?
read moreUK non-dom reform: drill the detail
The proposed changes that came into force on 6 April 2017 are the most significant taxation reforms for non-doms since 2008. To understand how these changes impact UK non-doms, Citywealth spoke to a selection of UHNW advisors from within the private wealth industry.
read moreReputational disaster: could it happen to you?
To debate the topic of how to protect a reputation, we asked four legal experts for their thoughts on how to protect a high-profile client from the vagaries of phone life.
read moreAll change for Simon Jennings, senior tax partner at Rawlinson and Hunter
After thirty-two years at Rawlinson and Hunter, Simon Jennings, senior tax partner, decided to move to Smith & Williamson. We asked him what was behind the move and how the changes in non-dom rules affect his clients.
read moreCharities – when cash is not king. KYC: ‘Know Your Congregation?’
In the midst of recent events that have affected the collective reputation of Britain’s charity industry, faith-based charities have to double their efforts when it comes to transparency and accepting hard cash from wealthy donors.
read moreNew regulation for local multi-family offices in Monaco
New rules create two new categories: entities that focus on asset administration only, without processing financial transactions, and the second group can transmit financial orders as well as provide financial advice to clients, and will need to be authorised by the regulator.
read moreFive-minute interview: Claire Gordon, partner at Farrer & Co
Claire Gordon, partner at Farrer & Co, talks about divorces and deals.
read more60-second interview: Hayley Geffin, comms and PR manager, Mishcon de Reya
Hayley Geffin, communication and PR manager, Mishcon de Reya, talks about their new social media initiatives and a documentary they created after two partners starred in a Hollywood movie.
read moreSocial media: marketing or spamming?
The private wealth industry has embraced social media in a variable way, with some doing nothing and others tweeting and linking as though their lives depended on it. However, times have changed.
read moreInterview with Nick Giles, managing partner, Edwin Coe
Nick Giles, managing partner at Edwin Coe, talks about changes in the private wealth industry over the past four decades and his cases, including a man who killed his brother because he wouldn’t let their farm animals into the house in the cold wealther
read morePrivate equity: Greed is good?
Private equity remains an attractive industry for UHNW individuals and institutions alike, providing solid returns. But in order to continue to sustain their business model, more transparency is needed.
read moreJersey guards its data
This month the government of Jersey published its first island-wide cyber security strategy, making all businesses aware of their cyber risks and responsibilities, while the government raises awareness and directs its own resources to securing the island’s systems.
read more60-second interview: Charles “Chuck” Lubar, senior counsel, McDermott Will & Emery
Chuck Lubar, one of the most senior US lawyers based in London, shares his thoughts on Trump’s immigration ban, changes in non-dom rules that affect US community in the UK, and talks about the trends in the private wealth industry.
read moreOne-click wealth management
Successful fintech is following the model of retail, putting the user experience at the forefront of development.
read moreFamily law risk assessment: Dublin vs. Frankfurt
If you move your HQ to Dublin or Frankfurt and your family joins you; if things went wrong, how could things shape up?
read more60-second: Jurga McCluskey, head UK immigration, Deloitte
Jurga McCluskey talks about how Brexit talks impact her international clients and the latest trends in immigration in the UK.
read moreLuxembourg gains greater share of UHNW ‘wallet’
The wealthy population of Luxembourg is rising, as government efforts to attract ultra-wealthy new residents spells good news for the country’s wealth management industry.
read moreBrexit: In victory you deserve champagne. In defeat you need it. (Napoleon)
The Brexit vote may have made some investors jittery but those who invest in fine wines are celebrating with a glass of fizzy Krug.
read more60-second interview: Daniel Pinto, CEO and co-founder, Stanhope Capital
Daniel Pinto says attracting and retaining talent is the secret to success.
read moreTrump’s tax plans viewed as positive
Less than a month into the presidency of Donald Trump, and already advisers to high net worth individuals in the US are preparing for change. While cautious about expecting the 45th President to deliver on all his campaign pledges, most expect wholesale tax reforms to be around the corner.
read moreLuxembourg and Paris eye Islamic finance market
Although other countries are targeting specific aspects of Islamic finance, London remains the leading centre for this work outside the Middle East and Asia.
read more60-second interview: Jonathan Giles, managing director, Rathbones
Jonathan Giles, managing director of Rathbone Investment Management International, talks about his work, industry trends, and surviving a business trip in South Africa.
read moreChina: 157 billionaires and not enough wealth advisers for them all…
As the Year of the Rooster arrives for China, I ask leading experts from the region for their thoughts on Chinese investor sentiment in the Chinese New Year.
read morePrecision agriculture has seen significant advancement
Andros Florides, senior portfolio manager, KBI Global Investors, also talks about the amended China Food Safety Law, effective October 1st 2015, which is the harshest food safety law in history.
read moreAgriculture needs economies of scale
Richard Sanders, partner, Fisher German Estate Agents, also says food waste is diminishing in the UK and much of it is post purchase by the consumer.
read moreBrexit makes Rolex prices soar
David Sonnenthal, founder of New Bond Street Pawnbrokers in London’s Mayfair, also says if buying for investment stick to Rolex, Breguet, Audemars Piguet and Patek Philippe.
read moreWatches must have authentication reports
Clotilde Rafine-Ricard, head of the Watches & Horology Department at Collector Square also says a watch shouldn’t be stored stationary for too long.
read moreLondon is the best place to buy watches now
Vartkess Knadjian, CEO at Backes & Strauss also says diamonds and craftmanship add value to watches.
read moreInterest in rare pocket watches grows
Joanne Lewis, deputy director and head of watches department at Sotheby’s, also says that the demand in the market for Patek Philippe and Rolex is strong.
read moreFive-minute interview with Michelle Wolfe, founding partner at Meritus Trust
Michelle Wolfe is a founding partner at Meritus Trust in Bermuda. Citywealth caught up with her to talk about new trends in the local trust sector and the advantages of working in an owner-managed trust company.
read moreFive-minute interview with Fiona McClafferty, senior manager, Deloitte
Fiona McClafferty is a senior manager in Deloitte’s newly expanded GCC regional private client services team headquartered in Dubai. Citywealth spoke with her about her work with the Middle-Eastern clients, the impact of taxation on their investment abroad, and the life in the United Arab Emirates.
read moreFive-minute interview with Farah Ballands CEO at Estera
Farah Ballands, CEO, Estera, talks to Marcela Kunova about her role at the new operation formed from the former Appleby fiduciary business.
read moreFive-minute interview Belinda Ferré, managing director and team head external trusts, UK and Far East, Bank J. Safra Sarasin
Belinda Ferré talks to Marcela Kunova about remaining confident in the UK’s ability to continue to remain a global financial power in the aftermath of the Brexit vote.
read moreChinese millennials start to use financing options
David Rimmer, client relationships, Hawksford also says second generations show similar patterns investing in overseas real estate and global businesses.
read moreChinese business owners reluctant to bring in outsiders
Daniel Ugur, partner at Gowling WLG, also says patriarchs like to retain control which limits learning in the next gen and makes children apprehensive.
read morePrivate equity play a large part in buying Chinese businesses
Melanie Ison, managing director, Nerine Trust Company in Hong Kong, also says that private equity ROI timelines can conflict with family business longevity wishes.
read moreNinety-year-olds go into the office every day
Withers’ Singapore partner Stacy Choong and Hong Kong, counsel, Pearl Lam also say that Chinese millennials, if from rich families and educated abroad want to pursue their own passions.
read moreSeller beware: buyers look for unprepared family businesses
Philip Marcovici, principal at Offices of Philip Marcovici in Hong Kong, also says the tradition of passing a business to the eldest son can be problematic.
read moreEU law has had a beneficial impact on family law
Camilla Baldwin, partner and founder of the law firm Camilla Baldwin Solicitors also says, following Brexit, there will be an increase in conflict and litigation in the short term.
read moreRussians may help London retain ‘divorce capital of world’ label
Toby Atkinson, partner in the divorce and family department at Stewarts Law, also says volatility is making life difficult for valuers to assess asset prices.
read moreUncertainty will mean more ‘conditional agreements’
Miles Geffin, legal director, Mishcon de Reya also predicts an increase in the numbers of internationally wealthy individuals relocating to the UK with their families.
read morePolitics is affecting life decisions
Simon Bruce, partner at Farrer & Co also says some clients are moving abroad before Brexit, postponing decisions about their private lives.
read moreMillennials should focus on a full range of communication skills
James Penny, managing director at Barclays Wealth, says the younger generation need to realise a career is in the marathon not the sprint category.
read moreEmotional intelligence and character are qualities we look for
Wendy Walton, head of global private client services at BDO says the younger generation have the ability to make seasoned professionals see things from a fresh perspective.
read moreInclusion and diversity is a core part of our hiring strategy
Ashley Crossley, partner and head of wealth management at Baker & McKenzie, says they are one of the first organisations in the UK to use ‘contextual recruitment’ in their trainee hiring.
read moreDespite technology, the law needs great, motivated and trained people
Jim Aveline, partner and head of family offices and businesses sector group at Burges Salmon, says partners attend ‘career conversation workshops’ to help discuss career aspirations with their lawyers.
read moreOur trainees write honest blogs about their training
Jane Keir, senior partner at Kingsley Napley, says their firm has made a shift towards informal feedback throughout the year rather than sticking to the traditional annual appraisal model.
read moreSwiss wealth management industry upskills in a new regulatory environment
Gone are the days of the secretive Swiss private bank, and instead it is a jurisdiction seeking to capitalise on a wealth of experience in asset management but facing a whole new landscape.
read moreSeven issues facing the UK wealth management sector
Keith Baird, financials analyst at CFE, says that while wealth managers face a range of pressures, existing players can thrive with the right integrated strategy.
read moreSecondary buyouts in private equity are a growing trend
Bart Deconinck, group deputy chairman at Zedra, also says private equity firms usually beat corporates in bidding rounds, partly because of the pressure on managers to execute a deal.
read moreBrexit will bring more taxation from the government
Anthony Pitcher, director at LGL Trustees, also says the relentless pace of private equity consolidation will continue.
read moreBanks are open for business for private equity funding
Simon Pilling, corporate partner at Bond Dickinson also says though that the time frame for getting through the credit process reflects a more cautious approach.
read moreLeverage has returned full throttle for large private equity houses
Bill Nixon, managing partner at Maven Capital Partners UK, also says managers are partly remunerated on deploying funds, so there can be a temptation to overpay for good assets.
read moreInstitutional investors will buy stakes in private equity companies
Ian Barnard, partner at Capital Generation Partners also says low private equity returns will mean investors look for better returns in direct investing.
read moreIt’s business as usual: EU nationals should not panic
Jurga McCluskey, partner and head of UK Immigration at Deloitte, also says employers should be active in addressing issues that could arise post-Brexit as a result of changes to freedom of movement.
read moreUK still attractive for foreign investors with a benign tax system
Ilda de Sousa, partner, and Daniel Brandon, associate at Kingsley Napley, say the government appears anxious to make it clear that, despite Brexit, the UK wants to attract investment from businesses and individuals abroad
read moreImmigration to the UK is getting harder since the last election
Rose Carey, partner and head of the Charles Russell Speechly’s Immigration group, also says that since Cameron doubled the required investment from £1m to £2m for the Tier 1 (Investor) visa, the number of applications has dropped by more than a half across the private wealth sector.
read moreMore applications being refused at UK Home Office
James Perrot, senior counsel at Macfarlanes, also says the fees that the UK Government are charging for immigration applications continue to rise on an annual basis, sometimes by significant amounts.
read moreFiduciary work grows in Bermuda
Claire Coe Smith investigates Bermuda’s growing fiduciary business which has come to the fore after decades of being dominated by Bermuda’s insurance industry.
read moreCyprus and Malta investment programmes lose their appeal
Hazar El-Chamaa, partner at Penningtons Manches, says that Cyprus and Malta investment programmes have lost their appeal following the Brexit announcement.
read moreExplorer yachts set new trend for ‘off the beaten track’ seafaring
Martin Bellamy, chairman of OneOcean Ventures a new venture from Salamanca also says all eyes are on Antibes port which is set to find bidders for a major redevelopment.
read moreThe purchase of a yacht is for passion and fuelled by excitement
Andrew Wilson, associate director of Marine and Aviation, Zedra in Guernsey also says that new VAT laws on chartering are causing concern.
read moreBuild slots for large yachts are reserved years in advance
Richard Simm and Nic Arnold at PwC’s private client luxury asset advisory team also say that fear of newspaper and social media coverage is driving wealthy clients to advisers.
read moreVirtual reality helps clients design their superyacht
Mark Duncan, group commercial and market director, Yachting Partners International also says the Chinese are showing keen interest in yacht building.
read moreLatin American money has re-diverted to the US following Brexit
Joshua Rubenstein, national head of trusts and estates and national chair of private client services at Katten Muchin Rosenman says Brexit is having an impact on Europe.
read moreUS Treasury hint at retaliatory action over EU bias against US corporations
Ivan Sacks, Nancy Yamaguchi, Diana Wierbicki, and M. Ridgway Barker at Withers Worldwide, USA say tech or software as a service is fuelling incredible wealth in the US.
read moreDelaware and Nevada are attractive locations for UHNW planning
Lesley Hodgson, head of Global Family and Private Investment Office EMEA, Northern Trust also says clients are increasingly concerned about security in all parts of their lives.
read moreDelaware law reduces tax on estate and wealth transfer insurance products
John Fischer, senior managing director, Transatlantic, at Lombard International Assurance also says the EU judgement on Apple won’t derail opportunities for Europe.
read moreScotland has had enough of constitutional chaos
Laura Knox, investment manager at Tcam, says that ‘Indyref2’ is unlikely unless there is sufficient support to guarantee a ‘leave’ result.
read moreScottish Government sets up £10m Scottish Land Fund
hirley McIntosh, tax partner at RSM, talks about the new measure that will help Scottish communities buy their own land but will put big landowners under pressure to sell.
read moreThe Land Reform Act will take away development opportunities
Jamie Younger, partner at Saffery Champness, Edinburgh, says the danger of this reform is that landowners risk losing strategically important land such as development sites which will in turn result in less private sector wealth creation.
read moreGreater land ownership transparency expected in Scotland
Odell Milne, head of agricultural and estate team at Brodies, also says that despite uncertainty caused by the Brexit vote, for Scottish businesses it has been ‘business as usual’.
read moreReal estate and digital technology drive Manchester growth
After years in the doldrums, the property scene is proving both a magnet for, and a generator of, a rise in the fortunes of the North West’s high net worth individuals.
read moreEU farm subsidies will have to be cut
James Pavey, partner, Irwin Mitchell Private Wealth, says that without subsidies, farming will cease to be economically viable and will be a no-go for investors in the long term.
read moreFuture farm subsidies will target the environment
David Merton MRICS, partner and head of rural consultancy at chartered surveyors firm Fisher German, say that Brexit offers an opportunity to promote British food security and to align farming subsidies with environmental issues.
read moreWoodland can be an attractive investment
Christopher Findley, partner at Bircham Dyson Bell, also says that without subsidy, UK agriculture will face a deep recession and bankruptcy on a large scale.
read moreBuying land in the US, Australia and Western Europe is popular
Tom Hewitt, head of food and farming at Burges Salmon, and Ian Bailey, head of rural research at Savills, also say that investors in Eastern Europe and Latin America must consider the risk of the changing attitude towards foreign investment in local agriculture.
read moreBuy land which can diversify into profitable activities
Tom Moran, partner at Charles Russell Speechlys, talks about what to look for when buying or investing in the agricultural sector.
read moreNew VAT rules: zero rates of tax on some items for consumers and business
Kevin Nicholson, head of tax at PwC, also says that unless the Government moves quickly to agree free trade agreements, the effect of customs duties could add costs through the entire supply chain for goods.
read moreGovernment may defer changes to the taxation of non-doms
Chris Groves, partner in the wealth planning team at Withers, says that with the uncertainty following the referendum, the Government may change their plans to tax non-doms.
read moreTrusts could be enormously helpful
Sara Maccallum, senior partner at Boodle Hatfield, says that in the aftermath of the Brexit vote, trusts could be very helpful for UHNWIs who settle assets before becoming deemed domiciled, as they are at present for IHT purposes.
read moreThe government is back to designing and implementing tax policy ‘on the hoof’
Andrew Goldstone, head of tax, Mishcon de Reya, says that recent changes affecting UK residential property and the surprise announcements in the Budget to reduce the CGT rate and introduce Investors’ Relief are examples of rushed tax policies.
read moreThe future: VTOL, vertical take-off and landing aircraft
Adam Twidell, CEO of PrivateFly, talks about the trends in the aircraft industry that will soon see VTOL aircrafts capable of taking off and landing with no runway needed, opening up new routes and reducing travel times.
read moreApps like Victor, Ubair and JetSmarter will grow in use
Edward Leigh, senior manager, aviation, Equiom, says that companies offering fixed fee services bring more choice to clients and this sector is set to grow and expand in Europe. There are certain compromises such as the routes available, plus the flights may be shared with other members which mean t
read moreBoeing B777 client spent $200mn on VVIP refurb
Fabrizio Poli and Geoff Andrews, both managing partners Tyrus Wings, also say they see more people flying privately because of fear of terrorism.
read moreHalf of world’s total business aircraft in USA
Nick Walker, head of marine and aviation at JTC, says the USA remains dominant with approximately fifty percent of the world’s total business aircraft, with a large concentration in the mid to large jets.
read moreGuernsey’s international structuring work still comes from London
As the scrutiny placed on high net worth individuals and their cross-border tax arrangements reaches ever greater heights, Guernsey is an international financial centre that private clients want to be associated with.
read moreTrust companies listed on the stock exchange do very well
Bart Deconinck, group deputy chairman at Zedra, says that PE Firms can still on average generate a ROI of twenty-five percent in trust companies.
read morePrivate equity use origination programs to find deals
Justin Partington, global head of funds, Sanne, says there are many opportunities for private equity investors, such as private deals, succession planning, expansion capital, or mergers.
read moreA private equity deal solves business succession issues
Anthony Pitcher, director, LGL Trustees Limited, also says there is a real concern that we are seeing a bubble, and that asset prices may lower.
read morePersonal chemistry is important in private equity deals
Peter McLintock, partner at Mills & Reeve and Richard Thomas of Palatine Capital, say that building a relationship with management teams in advance of any potential deal also helps build trust between the target and investor.
read moreSometimes, in the sport world, reputational damage is irreparable
Joshua Rubenstein, National Head of Trusts & Estates of Katten Muchin Rosenman, also talks about how US sport stars protect their image rights.
read moreDisgraced athletes must restore the faith of the fans
Peter Hackleton, partner at Saffery Champness, says that investment in both the sport and supporting top stars will invariably fall if commercial partners believe damage could be caused to their reputation.
read moreOpen access to sporting stars medical data will bring change
Julian Pike who heads Farrer & Co’s reputation management practice, also talks about the success of the “Brand Beckham” concept and how UK athletes can protect their image.
read moreInvestors want to harness the power of sport to build up a business or brand
Katherine Brace, director in Rothschild’s Wealth Management business and former HSBC Private Bank sports, entertainment specialist, says streaming platforms, on-line betting and gaming, and wearable technology, are key investment trends in sports.
read moreMarketing rights are being segmented as separate investments
Ashley Hurst, partner at Osborne Clarke specialising in media and internet disputes, says sports stars have to rely on a complex combination of privacy, intellectual property, and data protection rights to protect their IP.
read moreSome hedge fund managers will have to use strategies like factor-based investing
Ian Barnard, partner at Capital Generation Partners, also says that in order to cut fees hedge funds will stop taking third party money and become family offices.
read moreThe market is taking divided positions in the run up to the EU referendum
Mike Fullalove, head of fund products at Barclays Wealth, also says that currency is playing an important part in all investment strategies.
read moreThere are too many hedge funds in operation
Jonathan Bell, CIO, Stanhope Capital, also says that robo-investing will present challenges for the hedge fund industry.
read moreOur recent rebrand campaign was extremely successful on LinkedIn
Ghislaine Perry, group head of marketing at Brooks Macdonald talks about their rebanding
read moreWe use PR agency, Bell Yard, a specialist Litigation PR agency, to help us to proactively identify opportunities
Alison Burdick, marketing director at Kingsley Napley uses a specialist Litigation PR agency, to help us to proactively identify opportunities
read moreHalf of our new clients come directly to us as a result of referrals
Beverly Landais, marketing and BD director at Saunderson House talks about their brand and vision
read moreOur brand is very down to earth and unfussy because we have an incredibly wise but cynical client set
Paul Fletcher, partner and head of marketing at London & Capital talks about using LinkedIn extensively
read moreBy 2018, in the USA, we predict corporates will drive 15% of ‘fitness tracking’ growth
Angela McIntyre, research director at Gartner, world leaders in technology research, also talks about head mounted displays which will enable employees to see instructions on eyewear whilst they are performing tasks.
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