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.
Tell me about your role at Crestbridge
I’m head of Family Office Services and a director on the Crestbridge Jersey Board. I also focus on managing our client relationships
What does winning the Citywealth PowerWomen Award mean to you?
I’m thrilled to have won this fantastic accolade and to be recognised amongst an incredibly strong shortlist. I’m very thankful to the judges, to all who voted and to the Crestbridge Family Office Services team. I feel lucky to work in an organisation which has always valued an individual’s contribution, regardless of gender or ethnicity, and I am very proud to sit on a board with likeminded male and female colleagues where this equality is well represented.
Will Jersey benefit from Brexit?
Thanks to its close relationship with the UK, Jersey could become a bridge between the UK and Europe. Jersey already has a number of agreements in place with the EU and will continue to provide access post-Brexit. Additionally, new laws like GDPR are being enacted to have equivalence in Jersey, so I think the island is in a good position post-Brexit.
What challenges are your clients facing?
Uncertainty. We’re working in such a changeable environment, just in the past few years we’ve seen so many unexpected decisions including Brexit itself. The fact that things are less predictable means supporting international families with diversified and multi-jurisdictional assets is becoming increasingly tricky. This also affects succession planning and educating the next generation with regards to wealth and sustainability.
One of the key trends we’re seeing is the growth of private trust companies (PTCs) as families continue to seek new ways of managing and maintaining control of their assets. Increasingly, we’re seeing families focusing on the more traditional aspects of trusts, the preservation of wealth and assets, as they seek security and stability.
Tell me about an achievement you are most proud of?
There are a number of things I’m incredibly proud of. One has to be the success of the Family Office Services team and what we’re building here at Crestbridge. The team has grown over sixty percent just in the last twelve months, including three new directors.
What’s the best piece of advice you’ve ever received?
There are no stumbling blocks in life – just stepping stones in disguise.
What trends do you see in the private wealth industry?
In addition to the growth of PTCs, we’ll see a continued focus on governance, which might feel onerous but will help with some of the immediate environmental challenges the industry faces.
What was the last book you’ve read?
How to go beyond happiness by Sir Anthony Seldon. I love this book and have bought a number of copies to encourage my colleagues and friends to read it. It’s an easy book to read but it explains really well what happiness is or should be.
How do you relax after a long day?
I enjoy going home to my ten-year-old twins and watching a movie together or playing a good game of Cludo or Monopoly.