International Women in Wealth five minute interview: Emily Yiolitis, Partner, Harneys
What signature taxation, laws, trusts or investments do you think work for uhnw clients?
UHNW clients are not a homogenous segment and have different and distinct needs which require bespoke planning.
Are there any private clients in the world you would really like to work with?
Are women really going to take over the world, if so how?
Globally women are becoming an economic power and there is a shift from the position of women’s prosperity deriving from inheritance and marriage. I believe that a diversity of both male and female input in think tanks and on management boards is ideal and likely to lead to more thorough analysis.
What size of client do you generally work with?
Circa 50 million.
What is the most interesting or unusual private client deal you have ever been involved with ?
Most recently N acquisition/leasing of satellite slots in orbit.
What lessons have you learned that you could share with women?
Be practical, be informed, be confident without becoming overbearing, reassess client structures regularly. Put in the time to nurture client relationships.
What initiatives do you think there should be for women?
I believe that reverse discrimination redresses social inequalities at a cost which outweighs the benefit.
If you had to win a wealthy new client where would you take them to impress them?
A home cooked meal is always a winner if you are playing on home ground.
What are your three USP’s for working with uhnw clients?
Listen. Inspire confidence. Work hard to deliver.
What is the best thing that has ever been said about you or you have done or won?
I have had praise from the Legal 500, Chambers Global and Citywealth Leaders List 2010. The greatest praise also comes from recognition from a client.
What is your individual focus?
The majority of our private client portfolio emanates from Russia and the CIS.
How much do you travel on business and where do you tend to go?
On average, twice a month to Moscow, New York, Tel Aviv and Hong Kong.
What is the next big thing in private wealth management?
The convergence of the real and digital worlds in health care, infrastructure and manufacturing.
Will you still be successful as a woman if you don’t dress the part?
If you want to be taken seriously you should dress the part.
What would you tell a divorcing woman in the UK, whether she was British or International, and why?
Divorce is common nowadays. Take sound financial, tax and legal advice and reassess your working model.
Is the glass ceiling still with us?
Only for the women not tall enough to break it.
What charities do you admire and why?
Make a Wish foundation and charities which help the elderly.
What is the dummies guide to making it to the top in finance or pwm?
Be equipped with information and be interested in your work – it’s the passion from within that helps you succeed.