Citywealth Autumn Review – All the features from September to November 2022

Date: 30 Nov 2022

Silvia Ricciardi

From articles centred around the latest trends in Latin American countries and specific IFCs to updates on a wide range of topics, like private equity, the impact of sanctions on trustees, disputes and litigation – all the features published on Citywealthmag.com from September to November 2022.

Citywealth came back from the summer holidays with an Editorial Calendar full of insightful features digging into hot topics in order to offer in-depth analyses directly from the best industry experts in the private wealth management sector.

From articles centred around the latest trends in Latin American countries and specific IFCs, such as Dubai and Singapore, to updates on a wide range of topics, like private equity, the impact of sanctions on trustees, disputes and litigation, and of course a focus on our Future Leaders Awards 2022 and its winners and much more  – below all the features published on Citywealthmag.com from September to November 2022.

September started off with LATAM – Latin American money: Moving locations, where and why, a piece focussed on Latin American countries. Since the beginning of the global pandemic UHNW and HNW individuals have started to restructure their finances, relocating their investments. Citywealth interviewed Pedro Dias Ferreira, Managing Director at Goldman Sachs International (London), Christina M. Baltz, Partner and Head of Latin America Team at Withers (New York) and Evelyn B. Sheehan, Partner at Kobre & Kim (Miami) to understand the reasons behind this phenomenon, looking at restrictions and risks involved, but also focusing on the investments that are producing results.

September saw also the publication of Private Equity: an attractive place through uncertainty where Citywealth collected thoughts and suggestions from private equity experts to understand what changes are required in order to let private equity thrive in the present climate, going through private debt, investment strategies and other trends popular among individuals and companies.

The war in Ukraine led to sanctions imposed by many countries against Russian companies and individuals. The European Union as well as the United States, United Kingdom, Hong Kong and others have adopted heavy sanctions and further ones are on the way. Talking about the impact of sanctions on ultra-high-net-worth individuals and how trustees are responding to their clients’ main concerns, Citywealth worked on Trustees and the impact of sanctions: Will this change the habits of UHNWIs?, interviewing Clare Usher-Wilson, CEO at Summit Trust International, Clifford Ng, Partner at Zhong Lun Law Firm (Hong Kong), Beat Haering, CEO at Carey AG, Ariel Sergio Davidoff, Partner at Lindemann Law and Christopher Cook, Senior Associate at Baker McKenzie to get an overview from different countries and understand what to expect from the near future.

Meeting HNWIs’ insurance needs is not an easy task, especially considering that inflation is affecting insurance rates. New insurance programmes are being designed and promoted, aiming at avoiding the less tangible risks the majority of clients are currently facing. With Insurance and rising costs and risks released on October 5th Citywealth tried to understand the evolution of insurance and its costs, risks and programmes speaking to experts from the US and Bermuda.

October continues with Dubai IFC: an exodus to (financial) heaven? Focusing on new developments in place which included digital assets laws and again the impact of global sanctions, Citywealth contacted experts from Dubai, Jersey and London, who boasted extensive expertise and knowledge on this IFC, to understand what is attracting UHNWIs to Dubai and how the phenomenon is evolving comparing present with past figures.

Looking at the long-term investments currently available and advisable for personal growth, but also showing how charitable efforts have not been put aside, Citywealth interviewed Steve Sokic, Group Head of Private and Institutional at IQ-EQ, David Henry, Investment manager at Quilter Cheviot, Peter Musker, Client Development Director at Rathbone Investment Management, Drew Nutsford, Director and Chartered Financial Planner, and Peter Grant, Portfolio Manager, both from Waverton and Robert Young, Partner, Director Hanover Financial Management, Ince, digging into the need for diversification and ‘conscious capitalism’ in long-term investments and effects of inflation on philanthropic efforts, talking about what can be envisaged for the future in UHNW inflation: the future of investments and philanthropic efforts.

At the end of October Citywealth presented the Top 10 Sustainability Champions 2022, a list of global sustainability experts who have demonstrated concrete interest in making a positive impact on ESG and have been active in relation to the correct implementation of ESG values.

The Citywealth team has been conducting an ESG survey and extensive research, taking into consideration also recommendations from clients and peers in the private wealth industry for the Top 10 Sustainability Champions 2022.

Another IFC is at the centre of Singapore IFC: a (tax) heaven surrounded by global uncertainty. Low taxes, solid economic stability, freedom of movement, these are only some of the beneficial aspects which are of particular appeal to UHNWIs who decide to relocate to Singapore. Citywealth spoke to Stephanie Pierce, Managing Associate at Mishcon de Reya, Wong Kai Yun, Co-Managing Director at Chia Wong Chambers, Dawn Quek, Head of the Wealth Management practice in Singapore at Baker & McKenzie Wong & Leow and Clifford Ng, Partner at Zhong Lun Law Firm based in Hong Kong to get an overview of what is  also known as ‘Instant Asia’.

November 9th saw the publication of Tech wealth: trends and themes. In this feature Citywealth talked about the main tech trends circulating in the present climate in the private wealth sector. Trying to understand if UHNW and HNW individuals still make money investing in tech, Citywealth interviewed legal experts in FinTech, Martin Cook, Partner and Head of Fintech at Burges Salmon, Charles Kerrigan, Partner, member of the Crypto and Digital Assets industry team at CMS, Michael Ward, Hedgehog Co-founder, Alastair Mitton, Partner in the digital team at Womble Bond Dickinson to get an overview of where money will go in the future.

Citywealth decided to dedicate a feature on disputes and litigation with Dispute management – An overview. UHNW and HNW individuals who find themselves in disputes have to face an overloaded court system, which is seeing longer timeframes to resolution. Citywealth had a chat with Simon Davies, Partner at Ogier, Neil Long, Partner and Head of Private Capital at Womble Bond Dickinson,  Rachel Atkins, Partner at Schillings, Prateek Swaika, Partner at Boies Schiller Flexner to get an overview on the recent increase in disputes, looking at new adopted solutions to replace traditional hearings and getting an insight on a range of issues faced by their clients who have to go to court.

With The winners of the Future Leaders Awards 2022 Citywealth put under the spotlight some of the winners who triumphed during the Awards ceremony held at 12 Hay Hill on 16th November: Elizabeth Hart (Rathbone Investment Management), Assistant Investment Manager/Private Banker of the Year (0-5 years) – GOLD Award, Olga Nechita (Vialto Partners), Lawyer of the Year – Senior/Managing Associate – GOLD Award [and Outstanding Individual of the Year – BRONZE Award], Naro Zimmerman (JTC), Trustee of the Year – Director – GOLD Award, Thomas Pavey (Vaitilingam Kay), Family Lawyer of the Year – Senior/Managing Associate – GOLD Award and Per Wimmer (Wimmer Family Office), Private Investment/Family Office/UHNW Services Individual of the Year – GOLD Award.

Citywealth is currently working on engaging features for the New Year and will soon publish the Editorial Calendar Q1 2023.