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UPDATE

SPECIAL REPORT THE FUTURE IS ELECTRIC

brexit forum

IOD-IOM

TECHNOLOGY HOW THE WORLD BECAME HOOKED ON SOCIAL MEDIA

DIRECTOR OF THE YEAR AWARDS

OPINION FINTECH GLOBAL REPORT

Lending A Voice To Business with

Stephen Martin Director General of the Institute of Directors

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DEAR MEMBERS

welcome to the fifth edition of Agenda

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e had a successful and busy third quarter for the IoD Isle of Man branch, the highlight of which was a two-day visit from our new Director General Stephen Martin.

The Council of Ministers kindly allowed Stephen to briefly attend a sitting where we discussed national and international policies of the IoD. Of course BREXIT was raised, and how this could impact local businesses, and IoD members.

The morning was followed by a Round Table lunch with the IoD Committee at its new location in our boardroom at the Claremont. After brain-storming how to bring more value to our local members, Stephen was given a private tour of Microgaming’s new purpose-built HQ “Sixty Two” by its CFO, John Coleman. For those who haven’t seen the 5-story high-tech building, I leave the amazing experience to be appreciated by the fortunate individuals who may get a tour in the future.

His Excellency the Lieutenant Governor Sir Richard Gozney later kindly invited Stephen Martin, the IoD Committee and a few other IoD members to his home, the Government House, for an evening mingle together with the Chief Minister, and other government officials and civil servants. It was the first time such an event was held with IoD members, and we hope to have other events similar to this one in the future.

The next day at the IoD Isle of Man Prestige Autumn Lunch attended

by His Excellency, the Chief Minister and 90 members and guests, Stephen Martin spoke passionately about his DG role with the IoD, and how businesses need to be supported locally on the island and in the UK, in particular with the uncertain times ahead. With a falling population and drop (albeit a small one) in GDP for the first time in 32 years, it is important that professionals and directors are given the right training and tools to tackle difficult decisions, deal with reputational issues and achieve financial growth in a challenging and changing market. Stephen Martin left the Island impressed by its diversity, friendliness and beauty.

I hope you enjoy reading about our other breakfast, lunch and dinner events in this edition of Agenda, including fun and informative seminars planned for the future.

Lesh yeearreeyn share - with best wishes.

Jennifer Houghton Chairman Institute of Directors - Isle of Man

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CONTENTS UPDATE

3 6 10 12 14

WELCOME MESSAGE BUSINESS NEWS HANSARD’S ANNIVERSARY YEAR KPMG BREXIT FORUM

26 28 30

APPOINTMENTS

IOD – IOM

18

IOD-IOM COMMITTEE MEMBERS AT CHRISTMAS

22

IOD MEMBER INTERVIEW – TONY KEATING

INSIDE THE IOD ACADEMY APPLEBY - THE EQUALITY ACT 2017 IOD-IOM EVENTS

32

LENDING A VOICE TO BUSINESS – STEPHEN MARTIN

36 38 39

DIRECTOR OF THE YEAR AWARDS WHAT’S ON/EVENTS IN A BLINK

SPECIAL REPORTS

40 42

THE FUTURE IS ELECTRIC DRIVERLESS CARS: THE DIGITAL REVOLUTION PART TWO

44

DRIVERLESS CAR MYTHS

4

ON THE AGENDA...

46

DRIVERLESS CARS MAY KILL OFF THE WORLD’S DEADLIEST INVENTION

ENTREPRENEURS

58

ZOE HAWLEY – EVOKE

60 OPINION

48

FINTECH – KPMG GLOBAL REPORT

50

JAMIE BLAIR – ROOTS BEVERAGE CO.

TECHNOLOGY

52 54

SURE’S NEXTGEN VOICE SERVICES HOW THE WORLD BECAME HOOKED ON SOCIAL MEDIA

WHIRELAND INTERNATIONAL WEALTH BIG TOBACCO, BIG PROBLEM

64 66

ELIZABETH WELLS – MANNIN HOTEL WELLBEING

CONTRIBUTORS Claire Veale Wendy Shimmin Tanya August Matt Mosur Michelle P. Tonnesen Les Able Steve Babb Alexander Bell Jaq Greenspon CONNECTING BUSINESSES

Simon Nicholas (KPMG) Chris Bell (WHIreland International Wealth) Gillian Tett (FT) John Thornhill (FT) Richard Fletcher (SURE)

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update news

Left to right - Alf Cannan MHK, Treasury Minister; His Excellency The Lieutenant Governor, Sir Richard Gozney; Micky Swindale, Immediate Past President, Isle of Man Chamber of Commerce; Chris Allen, President, Isle of Man Chamber of Commerce; and Laurence Skelly MHK, DED Minister.

Isle of Man Chamber of Commerce review of the year

I

t has been an exceptionally busy year for Isle of Man Chamber of Commerce, here’s a review of 2017.

The Isle of Man Budget in February aimed to improve the finances of those working hard to fuel the Island’s economy by reducing the tax burden on the lower paid, and prioritising benefit payments to those in employment, over those who are not. Chamber welcomed the fact that Government appeared to share our commitment to the principle that growth of the economy and the working population will bring the prosperity essential to the Island’s future success.

In the spring, Chamber began a campaign to highlight the need to break down barriers to economic growth on the Island, reflecting widely held concerns amongst businesses in all key sectors of the economy. In particular, Chamber focused on the need to address the skills gap, grow the population, address concerns about transport links, and issues affecting commercial and residential property.

In July, news that the Department of Economic Development’s plans to restructure to a leaner model focusing on business development and economic strategy was welcomed by Chamber.

President, Micky Swindale, said that the reduction in the size of the Department, coupled with a move towards agencies, should allow a sharper focus on the core issues and opportunities and the ability

6

to bring the best people from across our economy – public sector and private sector – to work together in pursuit of our collective goals.

Chamber’s annual gala dinner was held at the Villa Marina in September.

Members and guests said thank you to Micky Swindale as she stepped down after completing her two year term of office as President – fittingly, the evening featured a presentation by FUEL (Future Emerging Leaders) which is an initiative that she launched in her inaugural speech as President as part of a broader campaign to encourage younger members to get involved with the organisation. Chris Allen was formally appointed as Chamber’s new President. Guests of honour were His Excellency the Lieutenant Governor Sir Richard Gozney; Department of Economic Development Minister Laurence Skelly MHK; Department of Economic Development CEO Mark Lewin; and Chief Secretary Will Greenhow who is head of the Isle of Man Civil Service. Chamber also welcomed some good friends from Wirral Chamber of Commerce – CEO Paula Basnett, and her colleagues Sharon Stanton, Patsy Crocker, and Graham Maddrell.

In October, Chamber broadly welcomed changes to work permit rules which make it easier for businesses to recruit personnel with essential skills or experience. Chamber has campaigned for a suspension of work permits, and

while the Government’s reforms fell short of that goal, Chamber believes that any moves to simplify the system should be applauded. In November a survey of Chamber members showed that a majority of business leaders support the principle of introducing a living wage on the Island, but many have concerns that it’s not economically viable at the present time, and that it might damage the quality of life here.

In recent weeks Chamber President Chris Allen has been working on an exciting new opportunity to improve how Chamber engages with start-ups and entrepreneurs, and he has also been speaking to Rob Callister MHK about the potential for Chamber to be involved in the workshops on air links, specifically the Open Skies policy. Both of these developments will be pursued in 2018, alongside other key strategic objectives.

2018 will represent the beginning of a new era for Chamber with the roll-out of more services for members and the launch of initiatives to enhance engagement with Government, and news and social media. Chamber is keeping the details under wraps until the New Year, but can promise some exciting announcements about how the organisation plans to develop new business relationships, and help to promote economic growth by strengthening Chamber’s status as the Isle of Man’s leading business network. www.iomchamber.org.im ON THE AGENDA...

Excellence award underlines Mannin Hotel’s winning business strategy Moore Stephens receives ISO 9001 certification for the fourth-year running

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fter completing the annual surveillance audit by World Certification Services, Moore Stephens, Isle of Man has retained its international ISO:9001 certification and has updated to the newer ISO:9001:2015 standard. Moore Stephens Isle of Man was one of the first firms in this industry in the Isle of Man to be awarded this certification.

“We’re extremely proud to once again receive this certification. In the eyes of our present and future clients it sets us

apart and gives clients the reassurance to know that we are offering the highest quality of service,” said managing partner Clive Dixon, “The entire team put in a lot of effort to achieve this accreditation for the first time in 2014 - to receive it for the fourth-year running is a credit to everyone at Moore Stephens and their hard work.”

“I’m delighted that we have retained this highly certified accreditation and it has been worth every bit of effort we have put into it,” Clive added.

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R

eceiving the New Business/ Innovation award in this year’s Isle of Man Newspapers’ Awards for Excellence ‘underlines the Mannin Hotel’s winning business strategy’, the hotel’s general manager, Rom Kesa, has said.

‘For the Mannin Hotel to have been recognised for excellence in less than two years since opening is testimony to the hard work and commitment of all the team,’ said Mr Kesa. ‘It’s also thanks to the people of Douglas and the wider Manx community who have supported us so loyally from day one.

‘Winning this award complements our drive to offer a consistently memorable guest experience and also, as a hotel located in the heart of Douglas, to be “a good neighbour” in the local community.

With this in mind we are currently in the process of selecting a worthy cause to support as the Mannin Hotel Charity of the Year 2018, the name of which we will announce in the near future.’

update news

Left to right: - Chingy Yuen – HSBC Expat, Mark Rixon – HSBC Expat, Chris Sutherland – HSBC Expat, Mina Tailor – HSBC UK, Ryan Lambotte- HSBC Expat, David Greenwood- HSBC Expat, Jo Da-Silva – HSBC Group, Deep Jobanputra – HSBC Expat

Double win for HSBC Expat service at global expatriate awards

H

SBC Expat, which has its global headquarters in Jersey and a support centre in the Isle of Man, has been recognised for the fifth year running at the Expatriate Management and Mobility Awards (EMMAs) in London.

The Bank won two awards for ‘Best Survey or Research Study of the Year for the EMEA region’, in recognition of their ‘Expat Explorer’ survey, and for ‘Best Expatriate Banking and Financial Innovation of the Year for the EMEA region’ for the Bank’s ‘best in class’ services.

The awards, which are run by the Forum for Expatriate Management (FEM), took place on the 10th November at the InterContinental London - The O2 and celebrate the ‘best and brightest’ of the global expatriate and mobile workforce industry. Following a highly successful two-day summit, more than 400 key figures, leaders and companies gathered

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to celebrate the best in global mobility.

All submissions were judged by a panel of independent experts against a set of strict criteria, who noted that the standard of entries was very high.

HSBC Expat, which this year celebrates its 50th anniversary, focuses on providing offshore banking solutions and cross border services to expatriates and people living abroad. The annual Expat Explorer survey, now in its tenth year and run from the Bank’s Jersey headquarters, is the longest running and the largest survey of expatriates, with over 27,500 respondents from all over the world and 46 countries ranked according to different criteria.

The panel of independent judges at the event said of HSBC Expat’s success: “HSBC deserve recognition of their initiatives for a holistic approach, not only ensuring excellence in meeting immediate banking requirements, but providing resources to assist in the international

transfer and starting a new life in a new location. In terms of the Expat Explorer survey, it is a great research product, invaluable to any expat or expat-to-be and their families.”

Dean Blackburn, Head of HSBC Expat, and Retail Banking and Wealth Management Channel Islands and Isle and Man, commented on the double win: “This recognition of HSBC Expat and the Expat Explorer report is excellent news, not just for the Expat service and our operations in Jersey and the Isle of Man, but for the entire business. Given that HSBC Expat celebrates half a century since its launch, and the survey has been going for a decade, it is fitting that both should be celebrated for the services they offer expats from all over the globe. We are very pleased with this result and will continue to evolve and innovate in this area to keep HSBC at the cutting-edge of the industry.”

ON THE AGENDA...

APPLEBY TOPS THE ISLE OF MAN LAW FIRM RANKINGS AGAIN

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he Legal 500 UK guide confirms Tier 1 status in seven practice areas Appleby has, once again, kept its position as the Isle of Man’s highestranked law firm in the newly-released 2017/18 guide from The Legal 500.

The Island’s office has maintained its position achieving Tier 1 status in seven practice areas and Tier 2 in a further two, as well as seeing seven lawyers identified as ‘leading individuals’ and four as ‘next generation’.

The Legal 500 is the leading guide to outstanding law firms and lawyers, with rankings based on feedback from 250,000 in-house peers and independent assessment of the law firms’ deals and confidential matters. It is updated annually, and inclusion is earned solely on merit.

In addition The Legal 500 highlights Appleby’s Managing Partner Faye Moffett and partners Simon Harding, Caren Pegg, Charles Davies, Christopher Cope, Mark Holligon as ‘leading individuals’ along with recognition for ‘next generation’ lawyers Claire Collister, Mark Emery, Andrew Harding and Kyle Sutherland.

Faye said: “The combination of rigorous assessment, peer and client recommendations that are integral to The Legal 500 research process truly evidences the breadth and depth of skills, knowledge and exceptional service standards of the Isle of Man office in being able to consistently achieve such a high standard of rankings across a multitude of practice areas.

“It is equally pleasing to see such a number of my colleagues receiving individual recognition for their work and I would like to congratulate them all.”

The Legal 500, which has been published for more than 20 years, produces a series of comprehensive guides covering legal services providers worldwide. It is used by commercial and private clients, corporate counsel, CEOs, CFOs, professional advisers and other national and international referrers of work and is globally respected for its definitive judgement of law firm capabilities.

CONNECTING BUSINESSES

Launch of the Department for Enterprise

I

n November the Department of Economic Development (DED) officially become the Department for Enterprise (DfE).

The Isle of Man’s Parliament, Tynwald, approved the Department’s Transfer of Functions Order. Along with the new departmental name, the Transfer of Functions Order will also mean that a number of existing functions will be transferred from the Department, enabling the Department for Enterprise to refocus its emphasis onto supporting the Programme for Government’s national ambition of becoming ‘An Island of Enterprise and Opportunity.’

The new name recognises the Department’s key role as an enabler and facilitator of business. In Manx Gaelic the name is Rheynn Gastid Dellal, Gastid translated literally means daring, agility, cleverness or nimbleness, which reflects the characteristics that the Department for Enterprise intends to embody.

As such, four new Business Development Agencies are in the process of being developed – Finance, Digital, Business and Visit Isle of Man, with the intention of having these in place and fully operational by April 2018.

Island strengthens Westminster engagement

T

he Isle of Man’s positive contribution to the United Kingdom economy was highlighted during a series of meetings in Westminster recently.

Chief Minister Howard Quayle MHK and Treasury Minister Alfred Cannan MHK led a senior delegation to London to continue the Isle of Man Government’s programme of engagement with MPs. An update on issues including Brexit and tax transparency was provided to members of the United Kingdom-Isle of Man (Manx) All-Party Parliamentary Group, which comprises MPs and peers from all the main UK political parties.

Mr Quayle and Mr Cannan also met the Premiers of the Overseas Territories (OTs) and the Chief Minister of Guernsey in the margins of the OTs Joint Ministerial Council meeting held in London.

The Chief Minister said: ‘The meetings enabled me to emphasise the Island’s position as a well-regulated and responsible international business centre that supports the British economy. In light of the one-sided coverage of the Paradise Papers in the UK media it was important to meet MPs from all parties and dispel some of the myths. I was able to emphasise our track record of financial transparency and tax cooperation, a fact reinforced by the Isle of Man retaining its top compliant rating from the OECD.’

Mr Quayle added: ‘Our policy of proactive engagement with the UK parliament helps to build a deeper understanding of the Isle of Man. It is vital for our international reputation and future prosperity that we continue to defend our position on key issues.’

The Isle of Man delegation also gained an insight into the latest developments regarding the UK’s withdrawal from the European Union.

The Treasury Minister said: ‘It is useful to spend time on the ground in Westminster to hear first-hand about how the UK is planning to position itself in the post-Brexit era. The discussions also provided an opportunity to explain how the Isle of Man supports world trade, creates jobs and maximises investments.

While the Island has been in the media spotlight recently, we have a lot to be proud of and meeting MPs face-to-face is a good way to deliver the right messages to the right people.’

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update - Hansard International

Anniversary year leaves a lasting local legacy 2017 marked a significant milestone for local company Hansard International, as it celebrated its 30th anniversary. As a 12-month programme of exciting events draws to a close, the company can look back on a year celebrated with its staff and the local community in style.

S

ince its launch in 1987 the company has been a constant, steady presence in the Island’s financial sector, during three decades of unprecedented change – in fact, it is now one of only two companies within its sector of the industry to have retained its original identity, focus and name.

The highlight of the year was a prize draw to win a Mini Cooper donated by Hansard, which raised £27,500 for The Children’s Centre – a fantastic total that will have a lasting legacy for the children, young people and families on the Isle of Man who benefit from the services that the funds will help to support.

Hansard began its 30th anniversary celebrations with the launch of the hansard30.com microsite, and a special ‘H30’ video which was seen by the company’s clients and financial adviser community around the world. The start of the year also saw the exciting announcement that Hansard International had joined forces with a prominent name in the UAE financial services industry, Union Insurance, to launch two flexible

10

saving and investment products – Infinity Wealth and Infinity Access.

As a very special thankyou to its 200-strong global workforce and to local Manx business partners and suppliers, Hansard International hosted a lavish 30th anniversary celebratory party, which was held in the stunning grounds of The Nunnery in July.

It was fitting that in its celebratory year that Hansard International should scoop two awards at the flagship industry awards event, picking up the ‘Best Online Proposition (Middle East)’ award, the sought-after ‘Reader’s Choice (Malaysia)’ award, Thank you to everyone who has shared in and supported Hansard International’s 30th anniversary – here’s to the next 30 years! www.hansard30.com

ON THE AGENDA...

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in a city where technology is shaping the landscape . . . it is hansard international’s online platform that financial advisers rank as being second to no others.

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Hansard Global plc is listed on the London Stock Exchange Regulated by the Isle of Man Financial Services Authority Registered Number: 032648C

update kpmg event

KPMG’s Brexit T Forum

KPMG’s Brexit Forum took place on Wednesday 18 October to a packed house at The Palace Hotel, demonstrating that Brexit is clearly on everyone’s radar. Despite Theresa May’s insistence that “Brexit means Brexit”, the question on everyone’s lips was “what does it mean, especially for the Isle of Man?”

examines potential impacts for Isle of Man 12

he forum began with an address by the Isle of Man’s Chief Minister, the Hon. Howard Quayle MHK, who noted that “UK withdrawal from the EU is a once in a generation change.”

The Chief Minister acknowledged the sheer complexity and volume of issues involved, compounded by the uncertainty that Brexit creates, are the main challenges for the Isle of Man. Like some of the following speakers, the Chief Minister was in a hopeful mood and, whilst recognising the scale of the task ahead, pointed out some of the positives to bear in mind such as the fact that the Isle of Man is an associate member of the World Trade Organization (WTO), which perhaps puts it in a better position than other comparative jurisdictions.

Following the Chief Minister’s remarks, Mark Essex, Director of Public Policy for KPMG in the UK, addressed the audience. Mark has been thinking ON THE AGENDA...

about Brexit since 2014, and on 1 March 2016 predicted the result for Leave. He now leads an intelligence and analysis team who are researching the impact of Brexit on KPMG’s clients. Mark outlined the complexities of the negotiations commenting that it is difficult to see what kind of deal would satisfy all stakeholders, raising the very real possibility of no deal. KPMG in the UK has designed a Brexit Navigator which can be found on its website. This is designed to help businesses identify the deadlines that may apply to them as March 2019 approaches, in the event there is no deal by then.

Businesses should be analysing their own exposure to Brexit, as well as the effect Brexit may have on their supply chain and customers - no two businesses will be the same. Mark was keen to stress that he is an optimist when it comes to Brexit, adding that whenever businesses are faced with a challenge like this, there are always upsides if they can be nimble.

Mark’s upbeat message was followed by an analysis of the Isle of Man’s position in relation to Brexit given by Professor St. John Bates. Professor Bates taught constitutional, commercial and EU law before serving as Clerk of Tynwald and Counsel to the Speaker. He now runs a consultancy company regularly retained by clients including the World Bank, the Organisation for Economic Co-operation and Development (OECD) and the Council of Europe. Professor Bates focused on the legal and political considerations the Isle of Man needs to tackle in the face of Brexit.

Whilst an Isle of Man Bill for Brexit has not yet been published, it is likely to be similar to the UK’s European Union (Withdrawal) Bill 2017. There are some contentious issues in the UK Bill, in particular the power to amend by secondary legislation which is of particular concern in an Isle of Man context. From a political perspective, Professor Bates believes that the Isle of Man’s ability to inform negotiations is hampered by the nature of its relationship with the EU and the fact that the Isle of Man’s future relationship with the EU will be decided as a result of the UK’s negotiations with the EU.

CONNECTING BUSINESSES

“Brexit means Brexit”

“UK withdrawal from the EU is a once in a generation change.”

Chief Minister the Hon. Howard Quayle MHK

Paul Cawley, Senior Manager, Indirect Tax at KPMG in the Isle of Man, then analysed the possible VAT and customs position following Brexit. He outlined the likely options, noting that as the UK increasingly pursues sovereignty in as many areas as possible, particularly with regard to the free movement of people, the more unlikely it is that the UK will remain a member of the single market or customs union. Whilst the default “no deal” position may seem like a cliff-edge, trading under WTO rules is at least something the UK has dealt with before.

A bespoke deal with single market access will take a long time to agree and is unlikely to be in place by March 2019, increasing the likelihood of a transitional period. Paul reiterated the view expressed by earlier speakers that the services economy was in a relatively good position, which was welcome news for the Isle of Man. Opportunities may arise, especially within the insurance industry, and as gatekeepers of our own tax, it will be important to ensure that we change it to attract businesses to the Isle of Man. Paul concluded that, whilst it is difficult to plan in an area of such uncertainty, businesses should start looking at what their position will be under WTO rules.

Simon Nicholas of KPMG in the Isle of Man then opened the panel session with Mark and Professor Bates being joined

by Sandra Skuszka, Head of Indirect Tax for KPMG in the Isle of Man, and Carl Hawker, Deputy Chief Executive for the Department for Enterprise. Questions ranged from whether Brexit was an opportunity to grow or to seek to maintain the status quo, to what businesses most want out of Brexit. Attracting talent to the Isle of Man and the continuation of the Common Travel Area were points of particular concern, as well as the action businesses should be taking now.

The popularity of the event itself is an indicator that Brexit is firmly at the forefront of people’s minds across industry and Government in the Isle of Man. While the final outcome is still unclear, the message seems to be that, if handled well, Brexit could be a great opportunity for both businesses and the Isle of Man economy as a whole.

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update Movers & Shakers

Long & Humphrey welcomes back advocate Shona Quayle

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thol Street law firm Long & Humphrey welcomes back local advocate Shona Quayle to its busy Private Client and Property department Shona qualified as a Manx advocate in 2001 having been articled to Rob Long at Dickinson Cruickshank and where she worked alongside Mark Humphrey in the Private Client department until 2009 when he and Rob left to set up Long & Humphrey.

In 2010 Shona joined the team at Long & Humphrey before taking a break to concentrate upon her young family in 2015. During her time away from the firm Shona took the opportunity to complete the Introduction to Isle of Man module offered by the University College Isle of Man (UCM) as part of its History & Heritage degree course. She has also lectured in law at UCM and has joined the NSPCC school service as a regular volunteer.

Returning to her career with Long & Humphrey, Shona looks forward to reconnecting with existing clients and welcoming new business to the practice.

Shona will continue to advise on all aspects of commercial and residential

property, including landlord, tenant and agricultural land matters. Her expertise also extends to employment law advice and alcohol licensing, including appearances before the Island’s Licensing Court.

The remainder of Shona’s practice relates to private client matters including wills, probate, enduring powers of attorney and mental health receivership.

Partner, Mark Humphrey, commented, “We are delighted that Shona has chosen to return to work with us. Her ability to deal with a wide spectrum of property and private client matters is well regarded and is supplemented by the positive working relationship she is able to engender with clients. She is a great addition to the team and we look forward to working together again.”

Edgewater announces two appointments as business continues to expand

E

dgewater Associates Limited (Edgewater), has announced the appointment of Dean Sowerby and Helen Hutchinson to its team.

Dean joins in the role of Financial Adviser and Helen as General Insurance Consultant.

Formerly Head of Banking at Duncan Lawrie Private Bank, Dean brings with him over 30 years’ experience in the financial services industry. A Chartered Fellow of both the Chartered Institute of Securities & Investments and the London Institute of Banking & Finance, he also holds a Certificate in Financial Planning and a Certificate in Mortgage Advice and Practice.

“I’ve always enjoyed meeting and working with new people and helping clients make the most of their options,” he said. “Financial planning has been the backbone of my career and this is a great opportunity to grow and develop Edgewater’s Isle of Man client network.”

Helen is currently working towards her Certificate in Insurance and Financial Services and joins Edgewater after two years at another local insurance broker.

Helen will be involved in activating a wide range of insurance products including travel, personal, motor, home and commercial.

“I’m looking forward to expanding my insurance experience with the team of accomplished brokers at Edgewater,” she said.

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ON THE AGENDA...

WHIreland International Wealth continues its growth strategy and appoints Chris Bell as Senior Investment Manager

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HIreland International Wealth has appointed Chris Bell as Senior Investment Manager as the international investment management firm builds its presence on the Isle of Man and internationally.

Born in Leicester, Chris gained a BA (Hons) in Commerce at Birmingham University before embarking on his investment career as a graduate trainee at Framlington Investment Management in London.

Chris relocated to the Isle of Man in 2001 and has held senior investment positions, most recently as Head of Investment Management at a local investment business, where he focussed on managing bespoke mandates for institutional and private clients. He holds a Chartered Financial Analyst Associate professional qualification.

Commenting on his new role, Chris said: “I am very much looking forward to working with my new colleagues at WHIreland and being part of the

WHIreland International team at this exciting time when the business has significant growth plans over the coming years. Whilst WHIreland International has only had a presence on the Island since 2014, the firm has a long investment heritage and has quickly established itself as a respected provider of investment services on island and to a growing number of international clients.”

Head of Investments at WHIreland International Wealth, David Bushe commented: “We are delighted to welcome a colleague of Chris’s calibre and local presence to our team for the next stage of our growth trajectory.

WHIreland International Wealth Managing Director Will Corrin said: “It is an exciting time for Chris to join our growing team at WHIreland International Wealth as we continue on our ambitious development strategy. Chris is a welcome addition and he brings with him a lot of experience and I am pleased to welcome him to the team.”

SENIOR PROMOTIONS AT PwC ISLE OF MAN

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wC Isle of Man has announced three promotions to further strengthen its management team.

Ferran Munoz-Lopez has been promoted from Assurance Senior Manager to Director in the assurance department.

After joining PwC Isle of Man in 2010 to gain international experience via the PwC Global Mobility Programme, Ferran relocated to the Isle of Man from PwC Barcelona in 2012. Ferran services a variety of clients in the banking, shipping, and insurance sectors. He will also be leading the firm’s business development efforts.

CONNECTING BUSINESSES

Hasan Mahmood has been promoted from Assurance Manager to Assurance Senior Manager. Hasan joined PwC Isle of Man in 2009 and provides services to the firm’s funds and captive insurance clients, and will take an increased role in leading the firm’s funds audit services.

Samantha Pemberton has been promoted to Human Resources Senior Manager. She has been with PwC Isle of Man for five years and has 15 years’ experience across the financial services, manufacturing and hospitality sectors.

A Chartered Member of the CIPD and with an MBA in HR management, Samantha manages all aspects of human

relations for the firm, including advising clients on their human resource needs and challenges through the firms My HR Partner service.

Ian Clague, Senior Partner with PwC Isle of Man, said: ‘I am delighted to congratulate Ferran, Hasan and Samantha on their hard work to achieve these promotions, which support the firm’s strategic plan for growth, of which our people form an essential part.

‘PwC offers a professional journey for individuals with the drive and motivation to succeed and it is hugely satisfying to see these talented individuals progress through the firm.’

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update Movers & Shakers

KPMG appoints Ewan McGill as Associate Director

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udit, tax and advisory specialist KPMG Isle of Man has announced the appointment of Ewan McGill as Associate Director. Ewan has a long association with KPMG and has experience of working with the firm in several different international finance jurisdictions.

Originally from Dundee, Ewan studied at Edinburgh University and stayed in the city to complete his Chartered Accountant training. He then joined KPMG Channel Islands in 2000 in the Financial Services group, spending seven years in Jersey and five years in Guernsey.

He later moved to KPMG Bermuda in the Investments and Banking group, and most recently has worked for KPMG Singapore.

Ewan’s role in the Isle of Man will see him focus on asset management, real estate, fiduciary businesses and eGaming.

“I’m looking forward to learning about the Isle of Man proposition and working with a new set of KPMG colleagues and clients,” he said.

Commenting on the appointment KPMG Isle of Man Managing Director Russell Kelly added: “It is always a pleasure to welcome colleagues who have worked in other parts of the KPMG global practice to our shores.

“As well as already being extremely well-versed in KPMG values and culture, Ewan also brings with him broad international experience and perspective that will be very useful for our team.

“I am sure that he will find working in the Isle of Man, where so many of our clients have an international reach and focus, a great opportunity to apply his knowledge across a number of business sectors.”

Panacea announces three senior appointments to support expansion and growth

P

harmacovigilance company Panacea Pharma Projects has announced three senior appointments to support its expansion and growth plans.

Lynn Swain has been appointed as Client Manager and Qualified Person for Pharmacovigilance (QPPV). She has more than 20 years’ experience in the pharmacovigilance sector, her most recent role being at Lundbeck as Pharmacovigilance Manager for the UK

and Ireland.

Panacea’s new Safety Scientist is Abbie Cooke who joins from Quinn Legal in the Isle of Man where she was a Compliance Officer.

Sue Feely has been appointed as Quality Administrator and joins from Zurich Bank International where she worked for 29 years.

Panacea Chairman, Stuart Colligon, welcomed the appointments, and

commented: “Panacea is passionate about delivering the highest quality service to our customers, and this has become one of our key attributes that appeals to the pharmaceutical industry. The collective experience, skills, and knowledge which Lynn, Abbie and Sue bring to our team will ensure that our quality levels remain consistently high as the company embarks on its next phase of expansion and growth.”

Lynn Swain, Client Manager

Abbie Cooke, Safety Scientist

Sue Feely, Quality Administrator

16

ON THE AGENDA...

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PRECISE. PROVEN. PERFORMANCE.

Moore Stephens Retirement Solutions Limited is a company incorporated in the Isle of Man No.123460C and is registered with the Isle of Man Financial Services Authority as a Professional Retirement Benefits Schemes Administrator. November 2017

To learn more about our legal expertise, please contact: Appleby Isle of Man +44 (0)1624 647 647 iom@applebyglobal.com

applebyglobal.com

IOd-iom committee members at christmas

Meet Your institute of directors - isle of man Committee members

CLAIRE MILNE (Appleby)

Plans for Christmas: Christmas on the

Island with family visiting from Scotland.

Interesting fact: I bake a cracking

JENNIFER HOUGHTON

CHAIRMAN

Plans for Christmas: Find some powder in Åre and ski the slopes in Sweden followed by a Scandinavian Christmas dinner with family and friends.

Interesting fact: Born on Boxing Day so I’m used to getting one card for both occasions!

Best thing about this time of the year: A chance to catch an Aurora on the Island, and spend quality time with those closest to you.

Business outlook for 2018: Get the Island’s small dip in GDP back on track by supporting local businesses.

Christmas cake – with lots of alcohol of course! I surprised my Appleby colleagues (and myself!) a couple of years ago by being voted joint winner in our Appleby Christmas Bake Off Competition!

Best thing about this time of the year:

I absolutely adore Christmas - even the mad frenetic bits like all the shopping, card writing and parcel sending. However, I also like that at Christmas we actually take the time to think about our family and others and what Christmas really means to us and those we love.

Business outlook for 2018: There is a

Chinese proverb that states “may you live in interesting times.” We certainly do live in interesting times and challenging times but challenges also creates opportunities and I am very positive about the business outlook for 2018 and the Island’s future. This is such a positive place to live and work and I only see that remaining to be the case.

CLIVE PARRISH (CDP Associates)

Plans for Christmas: Christmas is time

best is the weather!

to get together with family and we will be spending it on island.

Business outlook for 2018: I suspect

Interesting fact: I once won a holiday to New Orleans on Bob’s Full House!

Best thing about this time of the year: That’s a difficult one - the one that isn’t the

18

2018 will be a difficult year for business depending on the fall out, if any, around the Paradise Papers and the ongoing uncertainty on Brexit. I remain optimistic though that the island will be resilient and overcome the challenges ahead.

ON THE AGENDA...

Institute of Directors - Isle of Man The Claremont 18-22 Loch Promenade Douglas Isle of Man IM1 2LX www.iod.com

Isle of Man Member Benefits QUICK LOOK n Discounted entry to Rendezvous Lounge at the IOM Airport n Discounted VIP Business Travel and Airport Transfers with K&B Carriage

DAWN WEBB TREASURER (Dawn Webb Advisory Limited)

Plans for Christmas: We will be having a quiet Christmas at home. We take time off work at Christmas, and have a proper break, just relaxing, which sets us up for the year ahead.

Interesting fact: We recently set ourselves a challenge to walk the coastline of all the inhabited British islands – there are just under 200 of them, and since setting the challenge we have officially walked one, Jersey. We intend to complete our second one over the Christmas period, our own beautiful island.

Best thing about this time of year: I love this time of year, everyone is happy, looking forward to Christmas. I look forward to the Christmas break and starting the New Year to see what opportunities and challenges it brings.

Business outlook for 2018: As an accountant running a small business, I work with a variety of different clients, and I feel very positive about the year ahead. I am seeing a growing number of people starting their own businesses, as well as established local businesses continuing to grow theirs successfully. There are definitely opportunities out there for those that want them.

n Discounts on Leisure and Business Travel with Richmond Travel and MannLink Travel n Discounts on selected training courses with TLC Additional Benefits for all members

n Access to our local HQ and Business Hub and locations throughout the UK

n IoD Car Rental, provided

by Hertz www.iod.com/ carrental

ALICE MARTIN (Isle of Man Government)

Plans for Christmas: A really traditional family Christmas with my Husband, my Son who is home from University and my In-laws.

Interesting fact: I am a massive fan of

motorbike racing, particularly classics, all Nortons and I used to ride a Moto Guzzi Stornello. Have been known to do a lap or two of Brands Hatch on a classic sidecar loved it!

Best thing about this time of the year: The build up to Christmas. It starts with making the Christmas cake.

Business outlook for 2018: I always feel very positive about the Island because I CONNECTING BUSINESSES

love it here, but I am also conscious that as a public servant I need to work with the business community to better understand the pressures the various sectors face. It was great to see such a positive response to recent international initiatives and the importance of that Public and Private sector collaboration is perhaps best explained by the powerful message sent to the International community when the OECD published our tax transparency rating recently. The international work will no doubt continue and seems to gather pace, but I sense the public sector and the business community are working together to meet those challenges.

19

IOd-iom committee members at christmas

JOHN HUNTER (Department For Enterprise)

Plans for Christmas: Making sure we see

all of the extended families but most of all having a nice break with good food and the odd glass of wine.

Interesting fact: Once spent Christmas

and New Year in Hong Kong – amazing to go swimming on New Year’s day and not feel cold and of course a great hang over cure.

Best thing about this time of the year: Having the extra few days to enjoy

MARK WATERHOUSE

(Isle of Man Financial Services Authority)

Plans for Christmas: Christmas at home

with the Family and New Year in Spain with Friends.

Interesting fact: I directed a packed Leeds

being at home and weather permitting getting out doors either by foot or on the bike.

Business outlook for 2018: We must

be positive going in to 2018 as the Island has been doing well and to be honest my expectations are that this will continue to be the case.

pub in the late 70’s in singing Slade’s Merry Xmas Everybody whilst sat on top of the pub’s jukebox – I now own a jukebox very similar. What memories!

Best thing about this time of the year: Everyone feels good and happy which is infectious.

Business outlook for 2018: Very

optimistic although there will be many changes which we will have to be positive about.

PETER REID (Lloyds Bank International)

Plans for Christmas: Spend some time with the family.

Interesting fact: I have a passion for Japanese guitars.

Best thing about this time of the year: Cheesy Christmas songs…..I love them.

Business outlook for 2018: 2018 will be a

year of change in Banking, with Ringfencing and Brexit on the Horizon. Cutting through the media hype will be critical as upside opportunity always exist in any periods of uncertainty.

20

DEB BRYON (Hansard International)

Plans for Christmas: I’ll be having a family Christmas on the Isle of Man.

Interesting fact: I can trace my IOM family back to the 12th century!

Best thing about this time of the year:

Great atmosphere in the office with people planning their Christmas events and secret Santa gifts.

Business outlook for 2018: Difficult year

ahead with a whole raft of new regulation coming along; skills shortages will continue to bite.

ON THE AGENDA...

PHAEDRA BIRD (Crowe Clark Whitehill LLC)

Plans for Christmas: To be at home with

my family – I wouldn’t chose to be anywhere else.

Interesting fact: My husband and my mum are wonderful cooks and therefore I have to confess that I’ve never cooked a Christmas dinner.

Best thing about this time of the year:

Everyone makes a special effort to catch up with one another “because it’s Christmas”.

Business outlook for 2018: The IoM

faces many challenges in 2018, both from American protectionism and more locally from the fallout of Brexit and the Paradise Papers. We need to improve the business outlook by reinventing and reinvigorating the IOM business community to ensure that our Freedom to Flourish mantra is understood, publicised and exploited worldwide.

PAUL MCAULEY (Lloyds Bank International)

Plans for Christmas: Really looking forward to a family holiday over New Year in New York, visiting younger son Alex, who is studying at University in USA.

Interesting fact: This summer went to watch older son Adam play his cricket Final for York at Headingly and was asked to commentate on the match by Yorkshire Sport FM who were broadcasting the match live to 2000 listening!

Best thing about this time of the year: Spending quality time with the family.

Business outlook for 2018: I personally believe it is very positive, especially here on the Isle of Man where businesses work closely with the Government. The economy is diverse with lots of new and existing businesses thriving. We should not be dragged down by the negativity portrayed by the media.

CONNECTING BUSINESSES

SALLY BOLTON (Corbett Bolton & Co)

Plans for Christmas: Same as usual with family on the Island.

Interesting fact: I Can’t think of anything interesting!

Best thing about this time of the year: I

like getting the fire going and watching Blue Planet on the big screen in our cosy sitting room.

Business outlook for 2018: Cautious but

with glimmers of optimism and sometimes glimmers of pessimism.

21

IOd-iom Member Interview - tony keating

One of the Good Guys Interview with Tony Keating, Managing Director at The Law Trust

By Michelle P. Tonnesen Photo by Matt Mosur

22

H

e’s one of the good guys. First of all he’s Irish.

Secondly, he speaks almost as fondly of his business and his employees as he does of his wife and renewable energy. Meet Tony Keating, Managing Director and Co-Owner of The Law Trust in the Isle of Man.

He may have grown up in Ireland, but he has lived on the island for 15 years and loves it.

“It feels so safe and friendly here. It’s easy to get involved with businesses and to meet new people.”

Tony Keating has over 25 years’ experience in financial services, having worked in accountancy, compliance and fiduciary services for some of the island’s largest providers, as well as major blue chip companies in the UK. He moved to London in the late 1980s and started accounting work. He spent 10 years with Accenture where he met his wife through a colleague. She is from the island, and they decided to make this their base for a family life.

Tony moved into banking with a focus on risk and compliance, before he was invited to join a CSP and decided to try it out. He has enjoyed the line of work ever since.

ON THE AGENDA...

“We are a mixed bunch of people, age and experience-wise. We support flexible working to allow everyone to make the most of their work and spare time, including honouring family commitments.”

CONNECTING BUSINESSES

23

IOd-iom Member Interview - tony keating

Fact File Revelations

FAMILY? My wife, Mel, and our two boys, Rowan

In 2010 he set up Dolmen Fiduciary Services with David Laderman.

“It’s my greatest achievement so far, but also my greatest challenge. We started the company from scratch. It takes a long time to grow a business, and we had a few years with no income. It was just David, myself and my wife in the beginning – now we have 20 employees and offices in Switzerland and Ireland too. We just kept on pushing and did not give up. My wife was a great support throughout this and continued to believe in me and our vision.”

Four years ago, Dolmen Fiduciary Services merged with The Law Trust – one of the oldest CSPs on the island. The company provides a wide range of independent corporate and fiduciary services to clients from around the world. They have a strong local trust business, deliver corporate structures for international clients and provide asset protection for US entities.

“We work very closely with our clients. We are hands-on with the

24

day-to-day business. We encourage a wider view which allows us to work on projects we enjoy. We are involved with renewable energy on the island, including solar power.

It’s not profitable at present, but we truly enjoy the work, and we believe in the future of green energy. I dream of owning an electric car that is powered solely by green energy.

Hopefully, we’ll be able to move away from brown energy entirely one day.”

As the MD and Co-Owner of The Law Trust, Tony’s role is not only to set the strategic direction, but also to promote the team spirit.

“We are a mixed bunch of people, age and experience-wise.

We support flexible working to allow everyone to make the most of their work and spare time, including honouring family commitments.”

Tony has been a member of the Institute of Directors (IoD) since its early days in the island, and he is its former administrator.

“The IoD provides great support.

I enjoy the breakfast meetings which have some excellent talks.

They work hard to find something different and to provide a wider range of subjects than a lot of other organisations. I also make use of the IoD’s London office on a regular basis. It has good facilities in a convenient location.”

It is clear to all that Tony truly enjoys his work, and we leave him to do what he loves the most: working closely with clients to consistently grow their businesses by providing a first class professional, but personal service.

and Lorcan, aged 12 and 11.

BEST GADGET? My iPhone. I left it at home this morning and I’m already bereft!

SPARE TIME ACTIVITY? Following the Irish soccer team.

FAVOURITE MEAL? I really like eating, so I struggle to pin down a favourite. It depends on what day it is.

WORST CHARACTER TRAIT? Early rising is not my strength. I’m not good at getting up in the morning.

FAVOURITE FILM OF ALL TIME? Footloose. I really enjoyed it and dancing to the music when it came out in my younger years.

MOST EMBARRASSING MOMENT? My cousin managed to persuade the DJ to play the Birdie Song as the first dance at our wedding. It was fun the first few seconds, but he played the whole song and we had to actually dance to it!

GUILTY PLEASURE? Watching The Apprentice with my boys. We find it amazing how people get on that show. It’s quite fun to watch.

BIGGEST INSPIRATION? My first boss at Colefax, Roy Meekings. He gave me some really good insights and a helpful introduction to working life. He was charismatic and strict, but caring. He allowed me the chance to learn what I needed to get on later in my career.

FAVOURITE SONG? The Voyage by Christy Moore.

A PERFECT DAY? Going out with the family exploring the island or travelling abroad.

BEST PIECE OF ADVICE YOU’VE EVER HAD?

To be aware of the impact you have on other people; the weight your words carry even in jest – especially when you are at a Director level.

WHAT DO YOU MOST DISLIKE? I hate sloppiness in professional writing. I get annoyed with documents that have errors. I’m very picky, but our documents represent the company, so I find this really important.

WHERE IS YOUR FAVOURITE PLACE IN THE WORLD? I’ll be in trouble in each camp if I

say Isle of Man or Ireland. The simplest answer is home.

YOUR BIGGEST EXTRAVAGANCE? Travelling on holidays.

TOP OF YOUR BUCKET ‘TO DO’ LIST? To visit Canada. I have travelled to a lot of countries, but not made it there yet.

ON THE AGENDA...

We him We call call him the the ‘trading ‘trading machine’ machine’

Jack and his fellow investment managers oversee more than 60,000 trades a year.

They will move heaven and earth to place same day trades for all requests received by 2pm UK time. And even a machine would be hard pressed to beat their 99.95% accuracy rate.

Only exceptional quality of service earns you a title like that.

Find out more at www.rl360.com/quality/jack

Quality at your service

Jack Sleight, trading machine Isle of Man office

RL360 Insurance Company Limited. Registered Office: RL360 House, Cooil Road, Douglas, Isle of Man IM2 2SP, British Isles. RL360 Insurance Company Limited is authorised by the Isle of Man Financial Services Authority. Registered in the Isle of Man number 053002C.

iod-iom The iod academy

YOUR IOD PROFESSIONAL DEVELOPMENT

INSIDE THE IOD ACADEMY

In September the institute opened a state-of-the-art learning hub for business leaders. With an enhanced digital offering set to be launched in the new year, executives will have more options than ever before for developing their skills. Director asks some of the IoD Academy’s first users to assess the new facility 26

By Ryan Herman

T

he IoD’s mission, as stated in its royal charter, sets out four objectives for the institute to strive for: better directors, better business, better services and a better economy. To achieve these goals, the IoD has been supporting business leaders for more than a century. Its professional development programmes are designed to improve the skills and professionalism of directors and ultimately benefit the UK economy and society as a whole.

As Steve Giles, an IoD course leader, puts it: “There is a growing understanding that, if we want to be professional in our business lives, part of that involves a commitment to continuing education.

The job of a director nowadays is quite a tough one – you have to embrace other disciplines.”

ON THE AGENDA...

“The academy has been transformative. I cannot stress enough what a difference it makes” Course leader Deborah Morton-Dare

Digital future INTRODUCING THE NEW IOD ACADEMY APP Giles, a chartered accountant who investigated the collapse of Polly Peck in 1991, now runs courses on finance for nonfinancial directors and on the role of the director and the board. “To be credible as a business leader, you need to stay abreast of modern thinking,” he stresses.

Cutting-edge facilities Like the nation’s entrepreneurs, the IoD is adapting to the ever-shifting demands of modern commerce. This is why it opened a state-of-the-art learning centre, the IoD Academy, at 118 Pall Mall in September. This facility has been designed to deliver the latest in teaching methods, providing an environment that helps learners to focus while at the same time increasing their opportunities for interaction.

Unlike a typical business school, the IoD Academy is not purely academic in its approach. Its courses are run by experienced captains of industry who live and breathe business and are focused on practical, measurable, real-world application and performance improvement. In short, the training is delivered by directors for directors.

Take Jo Haigh, for instance. She has bought and sold more than 400 companies to date and currently serves on the boards of seven firms. The proud holder of a Sunday Times Ned Award, she has held numerous non-executive directorships throughout her career.

Haigh leads courses on the role of the Ned and on the role of the director and the board. She puts a strong emphasis on giving delegates practical advice that they can apply immediately.

“It’s not just about getting through an exam,” she says. “These sessions are sprinkled with numerous real-life ‘it happened to me on the way to the CONNECTING BUSINESSES

boardroom’ stories. We spend plenty of time on best practice, so that delegates can learn from each other.”

The new academy itself, Haigh says, provides the optimum environment to get the most out of her delegates. “IoD programmes are very interactive and the new break-out areas in the academy are an ideal place for working in small groups.

We can have sincere debates in a safe, confidential environment.”

The right environment Deborah Morton-Dare also leads a course on finance for non-financial directors. She has worked with firms ranging from SMEs to FTSE 100 members.

“The whole point of this course is to take away the fear for directors who don’t have a financial background and therefore are often quite intimidated by the subject.

I help them to engage with their finance directors far more effectively,” she says.

“Being able to do this course in the right environment is vital. Delegates need to feel comfortable and be in a place where there are opportunities to interact with each other. The academy has been transformative in this respect. I cannot stress enough what a difference it makes.”

Giles concurs: “Although the previous facilities were good, they have been transformed. The two main rooms are more spacious, providing lots of natural light, and the tech works really well. It all looks great, but the acid test is always what happens when people actually come in and work here. The institute is very keen to obtain feedback on how it all works in practice, so every tutor encourages delegates to offer their comments – good or bad. I can honestly say that these have been very positive.”

So what have delegates made of the new facility so far? “My degree was in

The IoD Academy app will be available to download early next year. The aim is to put you in control of your learning. It will enable users to access bitesized content including articles, podcasts, webinars and videos.

Both the app and the website will offer a wealth of useful resources based on the IoD’s director competency framework, some of which are free to all users. As a member, you can create your own CPD plan using the academy’s self-assessment tool. This will help you to work out what materials you’ll need in order to achieve your goals.

Look out for further announcements at: iod.com/ academy soon architecture and I was a teacher and a training manager for 20 years, so I look at these spaces in terms of the technology they provide and their effectiveness at supporting learners,” says Paul Nelson, who left the Royal Navy last year to join Babcock International as head of account development for submarine training. “The room that my course was held in was brilliant in those respects. The academy enables both interaction and privacy, providing what you’d like as well as what you need. And another thing: you can get a good cup of coffee here!”

Visit iod.com/academy for further information.

27

Iod - IoM feature Continuous Professional Development Session 21st November 2017

The Equality Act 2017

“Equality is not in regarding different things similarly, equality is in regarding different things differently�

By: Caren Pegg, Partner and Global Head of Employment Law, Appleby

C

aren has spoken before at our local IoD CPD events on equality related issues and her sessions always prove very popular with our Members.

Caren opened with a quick tour of how the legislation is changing as a result of the newly passed Equality Act 2017 and some of the concepts that feature within the Act.

28

ON THE AGENDA...

The Act affects all businesses Islandwide, big, small and across all sectors.

Every single employer and employee will be affected in some way and it’s also worth noting that it extends beyond the scope of employment as it also applies to the provision of goods and services.

The legislation is a major step forward for the Isle of Man and received Royal Assent earlier this year. The new law will be phased in, with the first measures being switched on in January 2018, bringing in new powers for Government to develop regulations, codes of practice and guidance. We understand that the initial changes will be followed in January 2019 with the switching on of the sections which provide protection for religion and belief, race, sex, sexual orientation, gender reassignment, marriage and civil partnership, pregnancy and maternity. In January 2020 the protections regarding age and disability and equal pay for equal value will be switched on. Meanwhile the existing protections of the Act’s predecessor’s will continue to apply.

With a strong focus on the benefits of aiming to improve an organisation’s culture in respect of diversity, Caren’s session was particularly focused on disability discrimination within the employment context and provided some very useful thoughts on the practical implications, taking a positive but sensitive approach to such things as managing absence and how the Director’s role requires them to ensure that their organisations make ready for the changes to the legislation.

Key messages were to be aware of the nine protected characteristics within the law; age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion and belief, sex, and sexual orientation.

A further important point to note is that certain conduct is prohibited conduct: That is direct discrimination, indirect discrimination, harassment, victimisation, discrimination arising from a disability and failure to make reasonable adjustments for disability. Employers must ensure that prohibited conduct does not happen in the workplace.

Where a person is treated less favourably on the grounds of the protected characteristic, for example disability, it is almost always not justifiable if the less favourable treatment is on grounds of any of the following: Their disability (which would be ordinary direct discrimination); the disability of someone they are associated with, such as a friend, family member or colleague (which would be direct discrimination by association); how they are perceived - that they are believed

CONNECTING BUSINESSES

Key messages were to be aware of the nine protected characteristics within the law

to have a disability, regardless of whether this perception is correct or not (this would be direct discrimination by perception).

Whilst particularly focusing on the protected characteristic of disability, Caren reminded us that an employer must consider a ‘reasonable adjustment’, which is a change or adaptation to the working environment that has the effect of removing or minimising the impact of the individual’s impairment in the workplace so that they are able to undertake their job duties, or apply for a job, without being at a disadvantage.

Returning to the title of the session, Caren explained that an employer can lawfully treat employees and job applicants who are disabled more favourably than non-disabled employees or applicants through making ‘reasonable adjustments’.

An employer should ask whether a job applicant needs any ‘reasonable adjustments’, often called ‘access requirements’, for any part of the recruitment process. But, employers should bear firmly in mind that this is not the same as asking an applicant outright if they are disabled, which would be inappropriate. An employer can only ask health-related questions, before making a job offer, in very limited circumstances.

In addition, an employment tribunal may expect more from a large organisation than a small one because it may have greater means to make reasonable adjustments.

The take-away key points were: Review and update your policies regularly and make sure you critically analyse any new policy. If you don’t have a policy in place, then put one in place to adopt best practice and find a champion in your workforce who will promote equality. Help and support them to improve workplace culture by providing training for managers. Always be alert and sensitive to employee needs, consult them fully and consider reasonable adjustments as and where appropriate with both existing employees and new recruits.

Caren provided a very timely reminder on this important topic. She is a great ambassador and very knowledgeable on how employers can help their employees by focusing on their contribution and supporting them in a positive way.

One measure for the success of a CPD event is perhaps the number of questions raised by the audience, so we always allow plenty of time for questions at the IoD sessions. We were all so keen to hear more from Caren that the session nearly overran, but we all came away with a fresh perspective on how to prepare for this new law.

29

IOd-iom October dining club

October Dining Club

W

e were delighted that the Karen Badgerow, CEO of the Isle of Man Financial Services Authority was able to join us for our Dining Club supported by HSBC on 26th October at The Claremont Hotel.

A drinks reception kicked off the evening and after a superb 3 course meal with cheese and biscuits to finish, Karen gave an interesting and thought provoking talk about her time on the Island and some of the challenges that she has faced to date. She also emphasised the importance of corporate culture in a risk based approach to regulation.

Tristen Bell, HSBC’s Area Premier Relationship Manager commented “The evening provided IoD members with a rare and insightful opportunity to listen to Karen discuss cultural development within the FSA, whilst being open in sharing her personal values. Karen wittingly included a twist of pop-humour to her speech which worked nicely! On behalf of everyone who attended, thank you once again to the IoD for arranging a wonderful evening.”

The IoD would like to thank HSBC for its support of the Dining Clubs in 2017.

30

Jennifer Houghton, Angie Westmoreland, Tristen Bell, Jaime Omoedo, Mark Waterhouse.

Jennifer Houghton and Karen Badgerow ON THE AGENDA...

IOd-iom breakfast with ann reynolds

L-R - Jennifer Houghton, Ann Reynolds & John Hunter

Breakfast with Ann Reynolds

T

he November IoD Breakfast, on the 15th November at The Claremont Hotel, focused on the Ports on the Island and current issues surrounding them on the Isle of Man. Guest speaker Ann Reynolds, Director of Ports presented to an audience of local directors.

Ann provided a really good overview of how her department works and the challenges of being responsible for an airport and 8 harbours – an enlightening view ranging from the challenges of working with predominantly shift working patterns, to the issues around passing through security at the airport and then on to the marinas and the prospects for the landing stage in Liverpool.

Maintaining our gateways to the rest of the world are of critical importance and

CONNECTING BUSINESSES

the work involved in maintaining these, whilst being forward looking, made for an interesting discussion.

John Hunter commented “Ann is an excellent and engaging speaker and the event was thoroughly enjoyed by all who attended.”

Jaime Amoedo, HSBC Isle of Man’s recently appointed Country Head of Corporate Banking, added “HSBC is delighted to have sponsored this year’s series of breakfasts events. We’ve heard from a broad range of speakers and topics of local and national interest which continue to stimulate discussion and different viewpoints.”

The IoD would like to thank HSBC for their sponsorship of the breakfast events in 2017.

31

IOd-iom Stephen martin interview

Lending a voice

to business

The new Director General of the Institute of Directors, Stephen Martin, visited the Isle of Man to meet members and business leaders recently. We caught up with him to find out what issues are occupying him most – and how appearing on a TV reality show taught him a valuable business lesson

W L-R Lieutenant Governor - Sir Richard Gozney, IoD Director General - Stephen Martin, Chief Minister - Howard Quayle, IoD - IoM Chairman - Jennifer Houghton

32

By Wendy Shimmin Photos by Matt Mosur

hen Stephen Martin first visited the Isle of Man, it was on a family holiday in 1975, at the height of the Troubles in his native Northern Ireland. To the nine-year old, the Island seemed an exotic idyll and he remembers clearly being given an autograph book as a souvenir.

“I didn’t know anyone famous then so my family filled it in at the time,” he says.

ON THE AGENDA...

“And of course whatever relationship the UK will have with the EU will clearly impact on the Isle of Man. I know from speaking to members here that they really want to make sure the voice of the Isle of Man is heard in the negotiations and discussions.”

CONNECTING BUSINESSES

33

IOd-iom Stephen martin interview Fast forward 40-odd years to his latest visit in his capacity as Director General of the Institute of Directors and it’s a very different story. In just a few short months since his appointment he has had the ear of senior political figures across the British Isles from Theresa May and her Cabinet Ministers to Nicola Sturgeon, Carwyn Jones and the Secretary of State in Northern Ireland James Brokenshire as well as our own Chief Minister Howard Quayle. He’s also appeared on prime time news programmes and is invited to prestigious forums and business events.

But while meeting high profile people is one of the perks of the job - and clearly presents a valuable opportunity to influence public policy - one of Stephen’s first priorities has been to travel around the IoD regions and he is here on the Island primarily to talk to local IoD members and business people.

“A big part of my role is to get out and engage with members and the business community, to get direct feedback on the issues that are important to them so that I can understand the concerns and opportunities facing industry today and give them a voice,” he says.

“Hearing first-hand from business people across the different sectors of the economy and finding out how they are developing and growing businesses, and how they are capitalising on opportunity, is always inspiring. I’m constantly thrilled wherever I travel and I make sure I go out to as many companies and sites as I can.”

His visit to the Isle of Man includes a reception at Government House and an IoD lunch but he has also found time to get out to businesses and was particularly impressed with a tour of Microgaming’s new offices.

“Coming from a construction background, I was fascinated in the design of it and it wasn’t the image I had of an office building here at all!

“I’d say it is up there with the best buildings anywhere in the world, and it was full of technically skilled people with amazing experience. They all seemed very proud to work for the organisation.

“The great thing about the business community in the Isle of Man is that it is so small and connected and everybody is part of it. There’s a lot more to the Isle of Man economy than people give it credit for and it’s important to get that message across outside the Island.”

With his appointment to Director General of the IoD coming a few months after the UK’s referendum to leave the EU vote, it is inevitable that Brexit – and its potential impacts on business – is high on Stephen’s agenda.

He sits on an advisory committee to the UK Government to represent the business community’s interests and was pleased to hear Theresa May’s recent acknowledgement of the need for a

34

“The great thing about the business community in the Isle of Man is that it is so small and connected and everybody is part of it.”

transition period: “Something we believe is absolutely essential and have been vocal in calling for,” he says. But he is also keen to draw out the opportunities for business too. “Business leaders are by definition optimistic, they want to drive their businesses forward,” he says, “But they are concerned and we need to do all we can to mitigate impacts on trade, skills and access to resources and people.

“And of course whatever relationship the UK will have with the EU will clearly impact on the Isle of Man. I know from speaking to members here that they really want to make sure the voice of the Isle of Man is heard in the negotiations and discussions.”

ON THE AGENDA...

“Quite often the IoD is seen as just for 50- or 60-year old executives who’ve been running companies for a long time. We want to welcome everyone wherever they are on their director journey.”

It’s also important, he says, that Brexit is not allowed to drown out other key challenges facing business today. “We need to make sure we have the skills that are necessary for the future, the right regulations, the right opportunities for companies to grow. We need to have the right infrastructure, not just the physical infrastructure but the digital infrastructure. There are a lot of companies that have great technologies and great opportunities but how do we actually make sure they have the capital to grow, how do we make sure they have the support to grow and what can we do to encourage them to take on more people?

We must make sure we don’t lose sight of CONNECTING BUSINESSES

issues on the domestic agenda.”

One challenge Stephen has set himself is to broaden the membership of the IoD and in particular to make it a more inclusive and diverse organisation. He has already launched an LBTG+ initiative and has plans to encourage greater membership from women, people with disabilities, young entrepreneurs and students. “Quite often the IoD is seen as just for 50- or 60-year old executives who’ve been running companies for a long time. We want to welcome everyone wherever they are on their director journey.”

He is also launching a new performance academy in London which

will be followed by a digital academy that can be accessed from anywhere in the world. He’s keen that the IoD is recognised as representing views and opinions from its membership across the British Isles, Europe and beyond, not just “the Westminster bubble”.

“This is a time when the voice of business needs to be heard and the broader that membership, the more weight that voice carries,” he adds.

Stephen’s own career began in quantity surveying and led to him becoming CEO of the construction business Clugston Group. The IoD, he says, gave him a lot of support with its training on good corporate governance, networking opportunities and access to people in the business community. It was in this role that he also took part in the reality TV series Undercover Boss, an experience, he says, similar “to putting on Harry Potter’s Cloak of Invisibility”.

“I could go through the organisation and see and hear what was really happening as opposed to what I was being told as a Chief Executive,” he said.

“It made me realise we were at risk of losing some of our best people, either because they were being let go when a project finished, they weren’t being given opportunities to progress because they were so good at the roles they were in or they were facing compulsory retirement without being able to pass on their skills and knowledge.” The experience allowed him to introduce a lot of new initiatives to retain staff and also taught him the value of listening. “The most difficult thing was not speaking, just listening for two weeks.

I almost blew my cover on day one!”

In his present role, Stephen is likely to be doing as much talking as listening and is in great demand by the media as well as governments for the IoD’s opinions. “A big part of my job is getting the message out about business being a force for good,” he says. “While it’s big corporate scandals that make the headlines, the vast majority of businesses are ethical, look after their employees, pay them responsibly, look after them and are part of their communities. It’s important to speak out about that.”

Would he change anything in his own career with the benefit of the hindsight he has now? “Maybe take a few more risks when I was younger,” he says. “Life is short so seize opportunities as they arise. Throw yourself into life and business, and go out there and make a difference.” * Stephen brought his childhood souvenir autograph book back with him and it now proudly bears a personal message of welcome to the Isle of Man from the Lieutenant Governor.

35

iod-iom director of the year awards

It’s back…

The IoD Isle of Man Branch are pleased to announce their third annual Director of the Year Awards.

T

he awards celebrate outstanding leadership on the Isle of Man and are designed to raise awareness amongst the business community of the significant contribution business leaders can make to society and to the economic prosperity of the Island.

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Do you have what it takes to stand out from the rest?

The awards are open to members and non-members from the public, private and third sectors. The winner of the Isle of Man event also has the opportunity to go forward to the National IoD Awards final, to be held in London later in the year. Giving you the chance to tell your success stories to a national audience at the UK’s most prestigious leadership awards programme.

For the third year running Appleby, which employs more than 70 people on the Island including lawyers and other professional specialists, will sponsor the awards.

Managing Partner Faye Moffett said: “we are once again delighted to be sponsoring the Isle of Man Director of the Year Awards. At Appleby we place high value on celebrating and supporting talent within the Isle of Man Business community. These awards are an excellent opportunity to recognise local business leaders who provide an important contribution to our Island community every day.”

If you would like to enter or nominate someone else who shows exceptional leadership skills, please visit www.iod. com/isleofman for more information on how to enter.

Leaders in the business community from around the Island will gather to celebrate excellence, innovation and best practice at an Awards ceremony to take place at the Spring Lunch at The Sefton Hotel.

ON THE AGENDA...

The closing date for entries is Wednesday 28th February 2018.

The categories for 2018 have been carefully researched to ensure they represent the core areas of business. The criteria is detailed and the judging process is thorough and will be completed by recognised and respected industry leaders.

2018 categories

share due to strong international growth from a great product or service.

INNOVATION

Director of the Year

Director of the Year

n This award recognises leaders that have developed an innovative and transformational idea that displays creative thinking and that has beaten the competition and has been developed and applied to improve commercial performance, operational effectiveness or customer engagement.

INCLUSIVITY

Director of the Year

n Open to directors whose business is a charity or not-for-profit organisation, which can generate a surplus, but exists to service the good of the community.

n This award recognises individuals in second generation or more, family businesses who have responded to the specific challenges that face directors in family firms and who have contributed to the success of the diverse, dynamic and innovative family business sector.

Director of the Year

Director of the Year

PUBLIC/THIRD SECTOR

NON-EXEC

n This award recognises individuals that have made significant contribution to the organisation’s strategy, impacted on the financial success of the company, demonstrated high ethical standards and promoted the practice of good corporate governance.

Director of the Year

n This award recognises leaders who can demonstrate that they have specific initiatives already in place to promote diversity and inclusion.

Director of the Year

FAMILY BUSINESS

CORPORATE SOCIAL RESPONSIBILITY

n This award is aimed at leaders who can demonstrate how they integrate the success and smooth running of their business with a strong sense of responsibility and consideration for their role as a corporate citizen.

START-UP

Director of the Year

Director of the Year

n This award is the highest accolade in the Director of the Year Awards, recognising the personal imprint of the UK’s most high profile leaders on the culture and success of their organisation’s through outstanding professionalism and the implementation of best practice in governance and leadership.

n This award celebrates founders/cofounders of the UK’s most promising startups. Focusing on the market opportunity identified, the model to capitalise on it, and how it has been executed within the first three years of trading.

NEW

n This award recognises upcoming leaders who have demonstrated excellent entrepreneurial potential, ability, ambition, creativity and vision in new or established businesses who have operated at director level for less than two years.

CHAIRMAN’S AWARD FOR EXCELLENCE IN DIRECTOR AND BOARD PRACTICE

Director of the Year

GLOBAL

n This award recognises international business leader with credible development plans in place to build on its company’s success. The leader will operate across borders and could be in any industry sector, but is likely to be gaining market CONNECTING BUSINESSES

Don’t miss out on the opportunity to shine - enter or nominate at: www.iod.com/isleofman

37

iod-iom what’s on

ICE Totally Gaming 2018

DATE: 06-08 February 2018 LOCATION: ExCeL London With over 30,000 attendees from more than 150 countries, ICE Totally Gaming is the B2B gaming event that brings together the international online and offline gaming sectors. www.icetotallygaming.com www.whereyoucan.com

Dining Club with Allie Renison, IoD Head of Europe & Trade Policy

DATE: 15 February 2018 LOCATION: The Claremont Hotel, Douglas More details will be published very soon. www.iod.com

Destinations The Holiday and Travel Show IoD NI Women’s Leadership Conference

DATE: 9 March 2018 LOCATION: Crowne Plaza Belfast The 2018 IoD Women’s Leadership Conference will be a celebration of success – of women in leadership roles and the conference itself. www.iod.com

DATE: 1 - 4 February 2018 LOCATION: Olympia London Join the Department’s Tourism team at Destinations, the flagship travel event showcasing year round holiday destinations for families, explorers and those wanting to escape the rat race.

At next year’s show the Tourism Team will be launching the new Isle of Man Visitor Guide which focuses on great things to do for families, the breadth of activities available and the beauty of the Island. www.destinationsshow.com/london

IoD Open House – Unconventional Annual Convention DATE: 12 - 14 March 2018 LOCATION: IoD Headquarters, 116 Pall Mall, London For the first time ever, the IoD’s historic home will throw open its doors and play host to a three-day business festival, where you’ll immerse yourself in all the matters facing leadership today. www.iodopenhouse.com

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DATE: 16 May 2018 LOCATION: Villa Marina, Douglas, Isle of Man ISLEXPO – the Isle of Man’s most prominent business conference/ networking event/start-up festival will take place on Wednesday 16 May at the Villa Marina. It is free to attend and open to all business-minded individuals, from entrepreneurs to well-established global players.

The concentrated programme will focus on what makes the Isle of Man a top location for local and global businesses to call home with ‘LOCATE’ as our theme and an action-packed day of talks, live pitching, panel discussions, roundtables, workshops, fireside chats and networking events.

A wide range of sponsorship opportunities are on offer for 2018, making it possible for businesses of all sizes to take part in the Island’s biggest and most varied business event.

Online registration for ISLEXPO will go live in the New Year. www.islexpo.com

Marketing workshops for food and drink businesses

DATE: Over four Thursday evenings – 1st, 8th, 15th and 22nd March 2018, 7pm to 9pm LOCATION: DEFA’s headquarters, Thie Slieau Whallian, Foxdale Road, St John’s Food and drink businesses are invited to sign up for marketing workshops being run by the Department of Environment, Food and Agriculture (DEFA).

The workshops are delivered as part of the Government’s food business development strategy, ‘Food Matters’.

Representatives from all areas of the food and drink industry, including farmers, retailers, artisans and restaurants wishing to gain a better understanding of marketing are encouraged to sign up.

The workshop will be delivered by Heather Blackley, a marketing consultant who has 25 years’ experience working with businesses on and off the Isle of Man, including the food and drink industry.

DEFA meets half the cost of the workshops, so participants pay £30 per session.To inquire about/ book places on the workshops, contact Audrey Fowler, DEFA Marketing Officer, via audrey. fowler@gov.im or 01624 685856, or complete the application form at www.gov. im/marketingcourse by 31st January 2018.

ON THE AGENDA...

iod-iom in a blink

Branch Support Local Charity Hospice at Home The IoD held a raffle at their Autumn Lunch and raised the magnificent amount of £1,520 for Hospice Isle of Man. Nearly 100 guests attended the event with IoD Director General Stephen Martin in September.

Jennifer Houghton, Chairman of the Institute of Directors on the Isle of Man said: “It was a fantastic event and we were delighted that Stephen could join us for our lunch. As Treasurer of Hospice at Home I would like to thank everyone who attended. In addition I would like to thank Barclays for their incredible support of our lunches and the charities.”

Stuart Nelson director at Barclays in the Isle of Man said “Barclays is

Message from Minister Laurence Skelly MHK

‘As an experienced businessman myself, I understand the investment you all share in the continuing success of our economy and your concerns regarding the future of our Island. Throughout the Paradise Papers debate, the Isle of Man has continued to react positively, adapt quickly and proactively engage with industry, stakeholders and media, and the IoD have helped to move that forward. I have been proud of our local businesses’ keen ability to thrive under pressure and thank you all for your ongoing commitment to our Island and its reputation.

‘As a Government, our position is that we are a well-regulated, responsible jurisdiction and we do not welcome those seeking to evade or abusively avoid taxation. We will continue to engage with international media, and we will also continue to engage with local businesses and professional bodies to help us ensure the debate is balanced and based in fact and that our hard won reputation for international transparency remains front and centre in a complex and often misunderstood context.

‘I remain confident in our future.

As the new Department for Enterprise emerges we are seeing our diverse economy continue to expand with successful growth from real businesses, delivering real jobs.

CONNECTING BUSINESSES

committed to supporting the communities in which we operate and so we were very pleased to sponsor the IoD Prestige Lunch. This event is a great opportunity for informal networking among local directors as well as to hear insights from industry leaders.

“On this occasion it was interesting to hear Stephen Martin’s insight to the various challenges on the horizon for business in the UK and the importance of training and development in the workforce.”

Ron Spencer, Chairman of Hospice at Home added his appreciation on behalf of the charity.

Isle of Man Inflation Key Points The annual rate of inflation as measured by the Consumer Price Index increased in November 2017 and now stands at 3.8%, up from 3.3% in October 2017.

As with previous months, there are three categories that have driven the rate of inflation for November 2017; Food & Non-Alcoholic Beverages, Transport and Restaurants & Hotels.

The cost of Transport to and from the Island contributed 0.7% towards the 3.8% and primarily relates to the cost of sea travel (6.3%), with air travel showing only moderate price inflation of 1.1%.

The cost of groceries continued to increase over the 12 months, up 4.3% over 12 months and contributing 0.6% to the overall rate. This is being driven by a weak pound, particularly against the Euro.

The cost of meals out and drinks at pubs and bars has continued to increase compared with 12 months ago, and there continues to be inflationary pressures throughout the whole basket of goods and services on the Island, with the exception of Clothing and Footwear, which is slightly cheaper than 12 months ago.

LARGEST CATEGORY MOVEMENTS OVER 12 MONTHS TO NOVEMBER 2017 (CPI) INCREASES

Multivitamin tablets

Oil & other fuels

+16.5%

+16.6%

Tea

Painkiller tablets

21.3%

19.3%

Contact lens solution

16.1%

DECREASES

Bacon

Pork

- 3.5%

Footwear

-2.5% Subscription to internet

-9.8%

- 5.2%

Children outerwear

- 4.2%

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SPECIAL REPORT - the future is electric

The Future is

Electric A

n old folk legend goes that many decades ago, during the Isle of Man’s tourist heyday, there was a chap who owned a holiday cottage up on Onchan Head (where the gleaming Skandia House now stands opposite). When overseas visitors asked for directions, he would archly reply: ‘Get off the ferry, turn onto the Promenade, and it’s the first house on your right.’

By Alexander Bell

It would be some time before they reached him on foot, yes, but this was an accurate set of instructions - and easily accessible by both horse and electric tramway, should the two mile walk prove too tiring. And it was while passing that same property a couple of weeks ago, in my grunting old motorcar, that a thought struck me. What a remarkable juxtaposition to see the old holiday lodgings on one side, one of the world’s finest antique railways on the other, and then to have the whole scene bathed in the imposing shadow of a giant eGaming company’s global headquarters. Two worlds have collided. It is strange, but uniquely Manx.

Look around the Island in 2017. Central

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Douglas is a hive of tech innovators and eBusiness gurus, but just a few miles outside the capital lies a foregone world of thatched rooves, enchanted bridges and Viking longboats. Even in the capital, thousands of savvy young office-dwellers have to contend with creaking infrastructure and a deteriorating town centre. Tynwald, the self-styled ‘oldest democracy in the world’, could be considered lightyears behind in social progress terms. Laws governing abortion and equal rights are only just catching up with the adjacent isle’s. But then again, a unique legislative apparatus enables entire fledgling industries to spring up overnight. Our Fintech sector is the envy of Europe; we are affectionately known

as ‘Bitcoin Island’ among cryptocurrency aficionados; and a small handful of local Biomed companies are quietly driving a revolution in healthcare.

However, for all the crowing about the latter, the former - our outlook on living and lifestyle - remains somewhat behind the curve.

It hasn’t always been this way. In 1881, decades before the UK followed suit, Manx women were given the vote. And it may come as a surprise to know we were in the business of environmentally friendly transport long before being green was considered cool, or even considered at all.

I’m talking about the Manx Electric Railway, a fine working example of Great Manx Innovation. Tourists from all corners ON THE AGENDA...

“Companies are looking at where to invest in the long-term... We can’t delay any longer.”

Andrew Newton Of the Manx Green Party

“Self-driving cars without a human at the wheel are to be tested on British roads as early as 2019. As soon as the necessary changes can be made to the Road Traffic Act.”

of Britain would in the old days flock to marvel at the overhead power cables, pristine wooden cars, and the spectacular glow of the vast electric generator rooms.

The Economist has asserted 2018 will be the Year of the Electric Car. Though they have been on the market for many years, resistance from the petroleum industry, lengthy charging times and, not least, the cost of ownership have made them the reserve of the hippie elite. But not for much longer. Battery technology has leapt forward, and the latest breed of Electric Vehicle (EV) can run more than 300 miles on a single charge. Crucially, the next twelve months will see the overall cost of owning an EV fall below that of a petrol or diesel equivalent. This ‘global CONNECTING BUSINESSES

tipping point for drivers’ could be a faint death knell for the motor industry as we know it.

So given the Isle of Man’s history with electric, why on earth is it not taking EVs more seriously?

‘We make our own rules, have our own taxation system, we have fantastic resources for renewable power’, says IOM Friends of the Earth spokesman Pete Christian. ‘EVs are ideally suited... We need to make ourselves a reputation for this sort of technology.’

Every year since 2010, thousands of motorcycle nuts - arguably the biggest petrolheads of them all - have stuck around in June to watch the TT Zero race,

where big name road racers fly around the Mountain Course at lightning speeds on battery-powered machines designed by university boffins. We are flying the flag for EVs. For a fortnight a year.

I’m not saying we are ignorant to the cause. Public charging points are popping up from Ramsey to Port Erin, and sales of the standard bearer Nissan Leaf are through the roof at dealerships. Tynwald recently approved changes exempting EV owners from road tax, and the 2016 Climate Challenge white paper outlines plans to get more of them on Manx roads in the years ahead. But there’s still more to be done. The Island is small enough to allay fears of batteries dying in the middle of nowhere. Our business ecosystem and ability to shut public roads on a whim could easily persuade the likes of Tesla to establish hubs here, with the right marketing. Google did make an approach last year, with the intent of testing driverless cars. Government, for reasons still unknown, rejected its advances. It seems there is still a wider reluctance to fully embrace EVs ahead of their widespread uptake.

But that day is drawing closer. Selfdriving cars without a human at the wheel are to be tested on British roads as early as 2019. As soon as the necessary changes can be made to the Road Traffic Act. The driverless trials will pave the way for fully self-driving cars to operate freely on UK streets from 2021, an ambition announced by transport secretary Chris Grayling earlier in November.

The UK government is planning to rid British roads of petrol completely by 2040.

The Isle of Man will have no choice but to follow suit.

Andrew Newton of the Manx Green Party, which has no seats in parliament, believes the future is in electricity.

‘Companies are looking at where to invest in the long-term... We can’t delay any longer’.

So where next? We have the infrastructure. We have the capability.

What we are lacking, for now, is the drive to do anything with it. Maybe we are too attached to our heritage to look forward.

Maybe it’s still too hard to take EVs seriously. Maybe economic concerns take priority over scientific policy endeavour.

But one thing is for sure: a revolution is coming. And we could be in the driving seat.

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SPECIAL REPORT - the future is electric

Driverless cars:

the digital revolution, part two ‘As the history of smartphones shows, technological change can sometimes spread with stunning speed’

By Gillian Tett (FT)

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I

spent my holiday in Miami, visiting friends who have a clutch of tiny children (two, four and six) and who drive the most politically correct, 21st-century domestic toy: a top-of-therange Tesla.

As we prepared to head to the beach, my friends duly unplugged the car from the electric charging station, and put it on the road. “Shall we see it dance?” they asked. “Yes!” shrieked the kids, as I looked on baffled.

Their parents pressed a button on the digital dashboard inside the car and stepped out of it, leaving the empty vehicle to “dance” for the children: music started up and the doors opened and closed, the headlights flashed and the side mirrors “waggled” like ears, all in time to the beat.

Thankfully, the car did not actually jump up and down on the spot. But that may be only a matter of time: this particular car (a Tesla X) already has a device that senses whether there is debris on the road. If there is, it raises the car high on its axle — a useful gadget in Miami at ON THE AGENDA...

the moment, since the side streets are still strewn with debris from Hurricane Irma.

“It’s all a bit scary,” I joked. “No! What’s really scary is that my kids think this is normal!” my friend observed, pointing to their joyful faces. Indeed, these children are now so used to having a car with an ultra-intelligent digital brain that when we returned from the beach that night, they patted the vehicle and said “goodnight”, totally unprompted. To them it seems less like a hunk of metal and more like an amusing family pet.

It was a striking sign of the times, and something that my generation — who grew up thinking that cars needed petrol and humans — has barely begun to understand.

These days, virtually everyone has become vaguely aware that our future will contain autonomous cars. Silicon Valley and auto-sector companies like Google and General Motors have collectively spent billions of dollars developing the technology, and are now running advertising campaigns to “educate” us on their merits. In early October, for example, an Intel video features basketball star LeBron James in a driverless car.

But while self-driving cars are already cruising Silicon Valley, few of us have ever actually seen one — while even their most optimistic evangelists admit that it could take at least another decade before they’re used on a large scale.

In some ways, this might make these digital driving devices easier to ignore.

But that would be a mistake. The history of technological change suggests that people tend to wildly overestimate the impact of technological revolutions in the short term — but underestimate it in the long term.

What makes the current revolution striking is not merely the question of whether cars are going to be self-driving — and dancing — but something more subtle: the auto industry is essentially creating a world where extraordinarily powerful, interconnected computers are whizzing around, driven by electricity and artificial intelligence. And that, as the chief executive officer of one of America’s largest industrial companies observed, has implications that could be as big as the smartphone revolution.

This terrifies many people.

A survey by Pew, for example, reveals that 56 per cent of Americans say they will not ride in a driverless vehicle, 81 per cent fear the technology will destroy jobs and 30 per cent think that driverless cars will make roads more dangerous. Then there is the matter of cyber-hacking and the danger that digital cars will lead to new — and potentially frightening — levels of government intrusion and control: as soon as anyone’s car-cum-computer ventures on to a street, it could be monitored by sensors and tracked — or halted.

But there are potentially amazing CONNECTING BUSINESSES

“56 per cent of Americans say they will not ride in a driverless vehicle, 81 per cent fear the technology will destroy jobs and 30 per cent think that driverless cars will make roads more dangerous”

benefits too. In a world of driverless cars, nobody would waste time looking for parking spaces. Busy parents could send an intelligent car to pick up their kids from school. The car could collect groceries. It could plug itself into the charging station.

It might even be able to walk the dog.

Traffic accidents would probably fall, and there could be other safety benefits too. If a child was abducted by car, the American police wouldn’t need to send out the details, as they do now, in a so-called “amber alert” to people’s cellphones. They could simply inform other cars, which would then watch for the errant vehicle and “report” it instead. Meanwhile, some 74 per cent of Americans think that the disabled and elderly would live more independent lives. The revolution, in other words, dwarfs anything ushered in by, say, Uber.

Of course, anybody used to “oldfashioned” cars might question whether these amazing benefits really outweigh all the (considerable) potential costs. But here is the key point: as the revolution gathers pace, it is creating a generational split. People like me might instinctively recoil from a dancing or self-driving car, but it seems almost natural to kids who are reared in a smartphone world. The next time you physically turn a key in the ignition, think about this: to the next generation, what you are doing might soon seem unimaginably quaint.

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SPECIAL REPORT - the future is electric

Driverless car myths D

riverless cars are, at last, attracting the attention that they deserve. For a long time they have been perceived as a fanciful idea that is so far in the future so as not to merit close attention. However, there is now a recognition that they are a potential game changer – but there is far more uncertainty about how they will change the game than there is about the fact that they definitely will. They will certainly not be a panacea to transport problems and may well cause more problems than they solve.

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ON THE AGENDA...

The technology is ready to go Well what technology? It is a very different matter fitting a few Google cars with umpteen sensors and other equipment and driving them around southern California, and enabling central London to be full of driverless cars.

The technology has a long long way to go before we can envisage a situation like that. Moreover, there will be an intermediate stage when people will let the car do most of the driving but will need to override it at times. This may prove to be particularly dangerous because people will lose concentration – or even consciousness – and then not be prepared to tackle an emergency.

The transition will be smooth Anything but. The transport authorities will find it particularly difficult to deal with a world where there are some driverless cars mixed up with conventional ones.

Indeed, the difficulties in many ways seem insuperable. There may be some kind of red flag type period where driverless cars are only allowed in very limited circumstances at low speeds.

Already, a lot of opinions are being aired with few facts to back them up. So here are half a dozen myths that need debunking: Source: By Christian Wolmar (FT/www. christianwolmar.co.uk) Christian Wolmar is an award winning writer and broadcaster specialising in transport and is the author of a series of books.

CONNECTING BUSINESSES

They will be 100 per cent safe Well, probably when there are only other driverless cars about – though even then they might crash into an unexpected object or fail to stop in time for a wayward pedestrian. The key point though is that for a long period there will be a mix of driverless cars and driven cars. How to deal with that situation is exercising the minds of the driverless car proponents.

Indeed, it is quite conceivable that a driverless car, which may be ultra sensitive to incursions on the road, could quite easily cause collisions with other, manually driven, vehicles. There are endless possible dangers, not least software or hardware glitches.

They will lead to a reduction in traffic In fact, the opposite may be true. If the downsides of car use such as finding a parking space and not being able to use your mobile devices while driving are eliminated, than using a car to get to work or for other purposes may well become more desirable. A driverless car could, for example, simply be sent on its way to find a parking space after leaving its passenger at the front door of their destination. Many people may, therefore, choose to drive in instead of using public transport. It may be necessary, therefore, to impose extra charges on driverless cars.

boring pod, this may well not be the case.

There is no reason why there should not be driverless Rolls Royces as well as Nissan Micras. For many people, there is a lot more to owning a car than simply having a convenient transport mode available.

Giving that up will be hard for many Jeremy Clarkson types. What will happen to Top Gear?

They will be environmentally better than cars There are lots of pro and anti factors here. They may well be driven more steadily and therefore they would use less fuel. On the other hand, if there are more of them, then the environmental effect will clearly be damaging, especially if it leads to an increase in congestion – after all, why bother to wait till after the rush hour if you are just sitting in the car working on your laptop. Also, if people send their empty cars back home for other family members to use, then they may run a large proportion of their mileage with no passengers at all.

They will reduce car ownership This too may well be a myth. While many proponents of driverless cars suggest that there will be no point owning a driverless car since it will simply be a

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SPECIAL REPORT - the future is electric

Driverless cars may kill off the world’s deadliest invention

By John Thornhill (FT)

We often make lists of the best inventions of all time. But which are the worst?

T

he nuclear bomb would be up there. The AK-47 Kalashnikov assault rifle also has a particular claim to infamy. The World Bank has estimated that there are about 75m such guns in circulation, causing tens of thousands of deaths a year.

46

But one other invention has killed many, many times more people than both of those weapons put together: the motor car.

About 1.25m people are killed in road traffic accidents a year, accounting for 2.2 per cent of all deaths globally, according to the World Health Organization.

Accurate data on how many people in total have been killed by cars in the past century are hard to find. But 50m seems a fair guess. That compares with the 123m in all wars in the 20th century.

If that level of carnage were not bad enough, cars have also contributed ON THE AGENDA...

“About 1.25m people are killed in road traffic accidents a year, accounting for 2.2 per cent of all deaths globally”

CONNECTING BUSINESSES

massively to environmental pollution and adverse climate change. As an additional malus, the car’s thirst for oil has handed billions of dollars in revenues to some of the world’s most regressive regimes: Saudi Arabia, Russia and Venezuela.

Fortunately, the end of the humandriven, petrol-fuelled car may be in sight. Some computer scientists describe driverless car technology as essentially a “solved problem”, even if huge challenges remain before car companies are confident enough to launch fully autonomous passenger vehicles on to the road. Protocols still need to be worked out to determine how one driverless car will interact with another and how to prevent hacking.

But human, rather than technological, resistance seems likelier to be the biggest brake on the driverless car revolution.

Whether we are behind the wheel or thinking about new technologies, humans remain inherently erratic.

For the moment, governments are putting in place regulations to encourage the adoption of driverless, electric cars and manufacturers are experimenting fast.

Recently, Philip Hammond, the British chancellor, said he wanted the UK to be one of the first countries to allow “genuine driverless cars” on its roads by 2021.

Car companies are gearing up to deliver. Uber announced that it would buy up to 24,000 Volvo cars by 2021 to prepare a fleet of fully autonomous, on-demand passenger vehicles.

One of the biggest risks is that governments and car companies will rush into allowing poorly tested autonomous vehicles on to our roads prematurely, triggering a public backlash. No matter how good the technology becomes, autonomous cars are still going to kill people. “The assumption that you can go from 1m [road deaths] to zero is very naive,” says one tech executive.

Proving that autonomous cars are demonstrably safer than human-driven cars is therefore going to be a tough battle of statistics and public perception.

The first death caused by a driverless car is certain to turn the likes of Jeremy Clarkson into a beetroot-faced, “told-youso” motormouth.

The TV car show presenter has already shouted his doubts about the reliability of autonomous driving technology, challenging its promoters to sit in one of their cars as it drives down Death Road in Bolivia.

But he is right that motorists have an extraordinary attachment to their cars. The car has brought enormous mobility, liberty and enjoyment to millions of people. A huge number of jobs, investments and corporate interests are also dependent on the current model of car transport, no matter how dangerous it may be. For those reasons, some transport experts doubt whether the driverless car revolution will ever happen.

At the other extreme are those, like the technology think-tank RethinkX, who predict that “we are on the cusp of one of the fastest . . . most consequential disruptions of transportation in history”.

They forecast that 95 per cent of US passenger miles will be made by autonomous, electric, on-demand vehicle fleets within 10 years of receiving widespread regulatory approval as we move towards a “transport-as-a-service” model. By 2030, the number of passenger vehicles on American roads will drop from 247m to 44m, destroying millions of driving jobs and the oil industry.

Which scenario unfolds in the real world will be a matter of societal choice as much as technological possibility. We should triple-test the technology, weigh the evidence carefully and choose wisely.

We have had enough of bad inventions.

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opinion - Simon Nicholas, Director, KPMG in the Isle of Man

A

s emerging technologies disrupt traditional financial services value chains, many institutions are lagging in implementing effective strategies, according to Forging the future: how financial institutions are embracing fintech to evolve and grow – a new report from KPMG that surveys more than 160 financial institutions in 36 countries.

According to the report, banks, insurers and asset management companies believe technologies like artificial intelligence, blockchain and the internet of things are redefining the very nature of financial services. Fifty-seven percent of respondents believe ‘emerging financial technologies’ are the greatest source of disruption today, followed by ‘growing global regulatory uncertainty’ at 51 percent and ‘new business models’ at 46 percent.

Fintech strategy challenges Addressing the organisational response to fintech is proving challenging to many institutions. Only 46 percent of respondents say their institution has a clear fintech strategy in place, with 42 percent indicating a strategy is in development and 10 percent having no fintech strategy at all. Of those with a strategy, only 47 percent believe it is well aligned with the challenges posed by fintech.

“We’re seeing many financial institutions continue to struggle to build and execute a comprehensive strategy around fintech,” explains Murray Raisbeck, Global Co-Leader of Fintech, KPMG International. “In many cases, fintech innovation is left to individual functional areas, without any kind of overarching strategy across the organisation.”

Over 70 percent of financial institution respondents ranked ‘enhancing customer service’ as a top objective for their fintech strategy. ‘Transforming existing capabilities’ was second, with 48 percent identifying it as a key objective.

“The majority of fintech innovation remains focused on transforming the front office and strengthening the customer experience,” says Ian Pollari, Global CoLeader of Fintech, KPMG International.

“This won’t go away, however as the sector matures, we also expect to see a greater focus on middle and back-office functions and capabilities. These types of initiatives will drive greater efficiencies – which can also lead to improved customer and regulatory outcomes.”

Partnering imperative Partnering, particularly with startups, is driving fintech activity, according to the survey. Overall, 61 percent of respondents say their institutions have taken a partnering approach to fintech in the past, while 81 percent plan to partner going forward.

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Fintech seen as the biggest disruptor for financial institutions, but effective strategies are lagging, finds KPMG global report

ON THE AGENDA...

Seventy-two percent of respondents believe fintech start-ups will be the main source of fintech innovation over the next 3 years, so it is not surprising that 81 percent say their institutions are currently partnering with start-ups or plan to in the next 12 months.

Interestingly, a similarly high percentage – 78 percent – say their institutions are, or will be, partnering with other large non-financial institutions.

“This approach is being driven by the growing recognition of the need to get to a dominant scale position quickly in particular segments,” according to Mr. Pollari. At the same time, half of respondents say they will employ a ‘build’ strategy – reflecting the plans of many banks and other institutions to build and launch their own fintech services. “Fintech is not the exclusive domain of start-ups and the survey results indicate that institutions also see themselves as being able to launch their own fintech products and services in certain areas,” he adds.

Looking at financial technologies over the next 3 years, survey respondents expressed the greatest interest in big data and analytics and Application Program Interfaces (APIs) - with 67 percent and 55 percent respectively ranking them first or second in interest.

“There is no silver bullet when it comes to fintech success,” notes Mr. Pollari.

“The most important success factor is having a fintech strategy that aligns closely to the organisation’s objectives, has senior sponsorship, recognises the need to execute on a number of fronts simultaneously, and above all, has a focus on realising demonstrable value, including customer, cost and regulatory outcomes.”

Commenting on the results, Simon Nicholas of KPMG in the Isle of Man said:

57%

of financial institution respondents say fintech is the greatest source of disruption; only

46%

say their institution has a fintech strategy in place.

Simon Nicholas, Director, KPMG in the Isle of Man

CONNECTING BUSINESSES

As a renowned international finance centre with a wellestablished digital business ecosystem, the Isle of Man is well placed to embrace innovation and support the growth of fintech. The island has the regulation and the technical expertise to support the industry along with an excellent environment for start-ups that would facilitate partnering with large financial institutions.”

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opinion - Chris Bell, WHIreland International Wealth

International Wealth

ÂŽ

Big tobacco, Big problem?

By: Chris Bell, WHIreland International Wealth

50

T

he tobacco sector was one of the poorest performers in the FTSE 350 over the past six months after the US regulator, the Food & Drug Administration (FDA), announced the start of a consultation on reducing nicotine levels in tobacco products to non-addictive levels.

ON THE AGENDA...

Shares in the sector continue to fall, down

3.3%

on the quarter.

whereas the FTSE 350 index was up

2.3%

*

over the same period.

*Weighted simple price return, as at 6th October 2017

Crucially for income investors, yields are

CONNECTING BUSINESSES

10%

Shares in the sector continue to fall, down 3.3% on the quarter, whereas the FTSE 350 index was up 2.3%* over the same period. The announcement by the FDA surrounds two specific areas: reducing nicotine levels in tobacco products and plans to create a framework so different tobacco products can be regulated based on their continuum of risks.

The tobacco sector has always been blighted by legal challenges and greater regulation. Most recently, we have seen the introduction of plain packaging and restricted display at point of sale. The period since has been defined by consolidation, with UKbased firms Imperial Brands (formerly Imperial Tobacco) buying several of Reynolds America’s US brands and British American Tobacco acquiring the remainder.

This demonstrates the sector is positioning itself to absorb future costs to the industry in terms of legal, distribution and higher excise duty, and the need to be bigger to survive these challenges. The prospect for new nicotine laws appear to be supportive of efforts to find new tobacco alternatives such as heat-not-burn and e-cigarettes, that are likely to have lower health implications to traditional products.

Recent share price falls are actually still reacting to the implementation of existing legislation within the Family Smoking Prevention and Tobacco Control Act, which came into force in 2009.

The time taken to announce the latest investigation into reducing nicotine levels indicates introducing new laws is a slow process and unlikely to have a material impact on earnings in the short term.

The legislation will not change ethical objections to investing, as nicotine levels will not fall to zero, but it is likely to reduce the number of new smokers. Next year’s valuation forecasts are now in line with historic levels, whereas there had been a long standing premium attached to the sector due to its track record of high returns. Crucially for income investors, yields are 10% higher than their 10-year historic average at 4.4%.

higher than their 10-year historic average at

4.4%.

51

technology - sip & isdn voice services

52

ON THE AGENDA...

A

s the world of digital innovation creates new ways for organisations to communicate, it can be easy to overlook the importance of cost-effective, flexible and reliable voice services. Of course, email and other forms of messaging are important but none have yet been able to replace voice as our favourite way to interact.

At the launch of Sure’s Next Generation SIP and ISDN voice services (SIPNG & ISDNNG), the 85 people who attended learned that innovation isn’t confined to creating new products, it’s also about improving existing technologies.

Sure’s NextGen voice services are an excellent example of innovation through improvement. They help organisations deal with the pressures of today by opening up a new world of robust, lower cost communications, but also deliver the future-proof design and inbuilt flexibility that are necessary to be prepared for tomorrow.

It’s time to reassess voice services Cost-savings come in different forms. Sometimes they’re delivered via efficiencies, at other times they simply reflect a reduction in price. The beauty of NextGen voice services is that they deliver both and are available at a time when Manx Telecom’s announcement of its 2018 withdrawal of ISDN services, has created an opportunity for companies to reassess their voice provision.

By leveraging SIP technology, we’re able to offer both a NextGen ISDN service that connects to an existing voice system, making migration fast and simple without the need to change the hardware, and NextGen SIP services that carry voice over IP, thereby creating the potential for streamlining onto a single IP feed and virtualising the voice systems.

By introducing a range of voice services that includes both SIPNG and ISDNNG, Sure is providing the flexibility of options that Manx businesses need when trying to decide upon the best way forward. How far you want to travel along the road to fully virtualised voice systems is entirely up to you and will be a decision that’s based upon a number of factors including cost, scalability, security and usage levels, to name a few.

Working for you Helping companies make informed decisions about the direction of their systems is the work of our Enterprise and Professional Services teams. By understanding your current requirements and likely future demands, they can help you make the right decision and can also design the most efficient and effective network that’s capable of delivering the functions and qualities that you need to CONNECTING BUSINESSES

Sure’s NextGen Voice Services Deliver Next Generation Savings By: Richard Fletcher, head of sales at Sure, richard.fletcher@sure.com

Eighty five Manx business leaders recently attended an event at The Claremont Hotel where they learned that they could save both on communications costs and be better prepared to meet the demands of the future, just by switching to Sure’s Next Generation voice services. keep your business working smoothly.

Whether the time is right for a move to SIPNG, or that staying with ISDNNG makes the most sense for your business, you’ll be pleased to know that the conversion to either service is very light touch. ISDN in particular, has no hardware requirements and, like SIP, can continue working with the same numbers that you use today.

A switch to SIP is slightly more involved but is still a very smooth delivery process. Fully virtualised systems also provide the dual-benefit of needing only a minimum capital outlay but simultaneously improving resilience because extra systems are so easily set up.

As the audience at The Claremont Hotel learned, the future of voice communications is already here but that doesn’t mean you have to embrace it all straight away. With Sure, you benefit from immediate savings whilst remaining in control of the rate of technological change.

To find out more, please contact one of our account directors at business@sure.com

53

technology technologyfeature

How the world became hooked on social media Digital devices have expanded our networks but they are not making us happy. So why are we so enthralled?

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ON THE AGENDA...

W

By John Gapper (FT)

hen Snap, the company behind the wildly popular messaging app Snapchat, went public In March, the shares jumped by 44 per cent on the first day of trading. Despite gaining no voting rights in a lossmaking company - Snap remains controlled by Evan Spiegel and Bobby Murphy, its co-founders - investors were enraptured.

They are not alone. “Students express near universal adoration of Snapchat,” writes Donna Freitas, a sociologist who interviewed 200 of them in 13 US colleges about their social media addictions. “They can say dumb things. They can take goofy, ugly, unbecoming photographs and show them to other people. They can be sad, they can be negative . . . they can even be mean.”

Snap was valued at $28bn because it is the latest mobile internet pastime.

The app’s current revenues may be limited but investors believe advertisers will need to spend money to reach its precious audience. This is the interactive generation described in Frietas’s The Happiness Effect, who find their identities CONNECTING BUSINESSES

online and shift between Facebook, Instagram, Snapchat and Tumblr in search of love and admiration.

Digital social interaction is such a pervasive part of most people’s lives that it is hard to remember a time before it was possible. Next year, it will be a half-century since Douglas Engelbart, a pioneering computer scientist, offered a glimpse of the future at a conference in San Francisco.

He told his audience that he was working on a revolutionary project at the Stanford Research Institute, nearby in Silicon Valley.

Engelbart sat for his demonstration with a five-key keyboard, a screen and a novel object at his right hand - a small box with three buttons on the top that came to be known as a mouse. He asked people to imagine “an intellectual worker . . . supplied with a computer display, backed up by a computer that was alive for you all day and was instantly responsible, responsive”.

Engelbart laughed as he said these words - whether with disbelief, pride or wonder, it is difficult to know. It was an astonishing notion, later adopted by Steve Jobs as the model for Apple computers such as the Macintosh. In important ways,

though, Engelbart understated the degree to which technology would change lives, and not only of intellectuals. The machine would not simply come alive, but would connect to a store of knowledge known as the internet. The term “computer” would itself become misleading, for its main use would not be computation but something more personal, especially when shrunk to fit in the hand.

The headlong rush into a digital future has brought anguish as well as enlightenment. It makes people seamlessly connected, better informed and able to achieve things that were unimaginable not long ago. But it has not made them happy.

Freitas’s students are fretful, restless and insecure - addicted to apps, plagued by their fears of missing out, and longing to be “liked”.

Jeremy Bentham, the utilitarian philosopher, developed the idea of the panopticon, a circular prison with an inspection chamber at its heart. Every inmate could be seen by a single jailer, although none would know if he was looking in their direction at any moment.

Bentham did not get a physical panopticon built, to his dismay, but Freitas notes that some social media platforms are virtual panopticons, with users constantly aware of being on display.

The strictest panopticon, as far as many of her students are concerned, is Facebook. Photos of wild behaviour were once common on social media but many have been through the “Facebook purge” cleaning anything that could come back to haunt them. Now, most post only touchedup, censored versions of their lives: “What you see is a carefully crafted showcase of a person’s best, happiest, prettiest moments” that makes everyone else feel ugly.

It is striking how intimidated they feel by the technology: “I think often about how powerless the students I interviewed felt in the face of their smartphones,” Freitas writes. As one young woman in a university sorority confesses: “Over the summer, everyone was in bathing suits all the time, posting fun pictures . . . and I said, you know, ‘Wow, I want that.’ Like, I forget what I have. Like, I would like to look like that’.”

Snapchat offers parole from the panopticon. Not only is it intentionally silly - users can add rabbit ears and other “filters” to selfies before sharing - but more intimate, since it involves smaller groups. It is less risky, since they disappear by default after being viewed: “Snapchat offers its users a way to connect without judgment, a possibility that college students, who feel they are constantly being watched and evaluated, long for.”

Invisibility has its dark side. Yik Yak, an app that allows users to post anonymous messages about others, is often used on campuses for messing around, free of Facebook’s artifice. It can equally be

55

technology feature abused to pick on others and bully them.

As one student reflects: “Because it’s anonymous, anybody can post anything.

They’re like, ‘Oh man, this power!’ you know? ‘I just spread terrible ideas without any consequences!’ . . . I see it becoming a bad thing soon.”

This raises the question of why people endure the pressure and unhappiness that technology can bring: why do they not simply switch off? Adam Alter, an associate professor of marketing at New York University, addresses it in Irresistible.

He concludes that not only are humans peculiarly susceptible to becoming hooked to their devices, even if they do not enjoy the experience, but games and social media companies are expert at keeping them enthralled.

Alter writes that the first use of the term “addiction” equated it with slavery.

In ancient Rome, someone who could not repay a debt might be sentenced to addiction - working as a slave instead. It has come to be identified in modern times with drug addiction, such as the addiction of 19 per cent of US soldiers serving in Vietnam in the 1970s to “Number 4” heroin, an almost pure opiate mixed up by master chemists in Hong Kong for what was a ready market.

Those addicts, though, were unusually successful in kicking the habit. When they returned to the US, only 5 per cent of those who detoxed relapsed. Alter writes that this offers a clue to the nature of addiction - it is linked to the environment that prompts addiction as much as the substance itself. The soldiers found it relatively easy to renounce heroin because they were no longer in the Vietnam jungle, and fighting a war.

If sensory pleasure by itself were enough to make us addicts, many of us would be hooked on ice cream, Alter notes.

In his 1975 book Love and Addiction, the US psychologist Stanton Peele defined addiction - including what is now known as behavioural addiction - as the “extreme, dysfunctional attachment to an experience that is acutely harmful to a person, but that is an essential part of the person’s ecology and that the person cannot relinquish”.

This is much like what Freitas’s students report as their feelings about social media apps - a combination of pleasure and pain, of freedom and being imprisoned. They long to escape the trap but struggle to do it. “Once your cucumber brain has become pickled, it can never go back to being a cucumber,” is the motto of a psychologist who runs a programme to wean players from online games such as World of Warcraft.

Games reward players for coming back by making them long to reach the next level, or win a special prize.

Social networks “gamify” friendships by encouraging users to compete for “likes” or numbers of followers. The social aspect

56

“Once your cucumber brain has become pickled, it can never go back to being a cucumber”

of digital technology is both inviting and anxiety-provoking. The next image, post or tweet might be the one that becomes a hit, giving the same dopamine shot as other forms of pleasure; thus does sociability turn into competition.

The path that technology took to this point is traced by Robin Boast, a former curator and professor at the University of Amsterdam. The Machine in the Ghost starts turgidly with an academic lecture on the nature of “digitality” but relaxes into an extended, and illuminating history. It reaches from Samuel Morse’s invention of a telegraph code through the 80-column punched card developed at IBM in 1928 to wartime codebreaker Alan Turing and Engelbart’s anticipation of personal computing.

Boast’s point is that the technology was never about performing “complex mathematical operations by means of relay circuits”, as a groundbreaking 1937 paper put it. That was a means to the end of communication - the ability to code everything from words to photos into files that could be transmitted, shared and enhanced. The filters on Snapchat photos are not an amusing sideshow to the serious business of digital computing - they are the thing itself. “The digital has always been about messages, about sharing, conversing, interacting and disseminating . . . it has always been more about the social than the virtual,” he writes.

This has a worrying implication for digital addicts: there is no escape from the jungle. They cannot evacuate to a place without temptation because there is no such refuge. Both Freitas and Alter finish by looking at how people can reduce the stress they feel from their addiction. Their ideas are sensible enough, from placing the phone out of reach to curbing emails. Citing Aristotle’s belief in moderation, Freitas eulogises “the virtue of unplugging” and “the virtue of forgetting”.

But it is hard to maintain such virtue

when temptation is in your hands. Perhaps no one knew what would be unleashed when digital technology became universal, immersive and always on. The liberation of being able to discover anything and befriend everyone is accompanied by dystopia: a world in which you must keep on scoring points and cannot hide.

Welcome to the panopticon.

The Happiness Effect: How Social Media is Driving a Generation to Appear Perfect at Any Cost, by Donna Freitas, RRP£20 Irresistible: Why We Can’t Stop Checking, Scrolling, Clicking and Watching, by Adam Alter, Bodley Head, RRP£18.99 The Machine in the Ghost: Digitality and its Consequences, by Robin Boast, Reaktion Books, RRP£16.95 ON THE AGENDA...

international.sure.com

NextGen voice services from Sure Make sure you don’t get stuck with outdated and costly technology.

Businesses across the world are moving away from ISDN services to more flexible, more cost effective solutions.

Sure’s newly launched NextGen services will provide Isle of Man businesses with a range of real alternatives, whether you are on or off our new Fixed Access Network.

Reduced costs Increased flexibility Low installation costs Keep your existing numbers and existing equipment Ensure a quick and seamless migration: upgrade with the help of support and expertise from Sure’s dedicated team

Let’s talk now about how you can get ahead of the game and reduce your costs and improve your service by switching to Sure.

Call us on 01624 692222 or visit international.sure.com/nextgen

talk WE NEED TO

NextGen Voice Service

ISDNNG SIPNG

Zoe Hawl Entrepreneurs - Evoke, zoe hawley

the mortgage matchmaker

With banking in the family DNA, it’s no great surprise that Zoe Hawley has ended up in financial services. But with her business Evoke registered as the Isle of Man’s first peer-to-peer lender, she’s heralding a new way for people to access mortgages and loans

By Wendy Shimmin Photo by Matt Mosur

“One of the things I’ve definitely learned from my clients is that the flexibility to do what you want is actually much more important that what you’re earning”

58

ON THE AGENDA...

ley:

A

s a concept, peer-to-peer lending that matches individual lenders to individual borrowers is fairly simple to understand.

It’s just not a service that has been offered by the high street banks which, traditionally, are the first and often only port of call for most people seeking financial help.

This has all changed on the Isle of Man with the launch of Evoke, a local business set up in 2014 by Zoe Hawley from Port Erin, which has been successfully matching local investors with local borrowers. With over £10 million in loans already arranged, it’s clear she’s fulfilling a demand that is not being met elsewhere.

“Peer-to-peer is an alternative way of financing that offers a lot of flexibility and benefits to both the borrowers and the lenders,” explains 30-year-old Zoe. “After the financial crash of 2008, many people found traditional finance much harder to obtain. Peer-to-peer lending allows those with more complicated requirements, or whose circumstances are a little more out of the ordinary, to access funding while giving investors a chance to earn a return on their money at a level of risk acceptable to them.”

It’s an idea that was developed by Zoe after first-hand experience in the lending market. Following in the footsteps of her grandfather who was a local bank manager, she joined Isle of Man bank at 16, working her way through the branch and cashiering side of the business before moving into debt management. “I found my forté there,” she says. “I really loved that job.”

At the age of 21 she was spotted for the bank’s Talent Academy programme and sent to Jersey, Guernsey and Gibraltar to implement a training initiative she had put forward. This was followed by a move into corporate banking which she describes as good experience that “set me up for the conversations I now have with borrowers and lenders.”

It was in this role that she “stumbled across bridging” and realised there was a gap in the market for people who were looking for short term finance but in whom the banks had little interest.

Realising peer-to-peer lending could be the answer, Zoe ditched her full time job and set up Evoke in just three weeks.

“It sounds crazy now but I just did it,” says Zoe. “There was an obvious need for an alternative and regulation was changing to allow new types of lenders so it was ideal timing.

“Evoke was the first private money lender to be licensed under the new legislation and the first to be registered with the FSA. We were also the first to be inspected which we passed with flying colours!

“It took 10 days to arrange a loan for the first client and we’ve just grown the business from there.”

CONNECTING BUSINESSES

As well as bridging loans, Evoke also offers debt consolidation and some commercial finance, particularly for small construction firms, but Zoe is keen that, above all, the business sticks to its very personal approach. “We really get to know our clients – it’s not like going to a bank, where nobody even knows who their bank manager is now. I’ve probably made friends with about 80% of my clients!”

Zoe is assisted by Claire Scott who helps with admin while Zoe does the face to face meetings with clients. “I love finding out about them, what they are doing and why they are doing it,” she says “Helping them achieve what they want is the best part of the job.”

She is appreciative of the support of other professionals in her business model, particularly Phil Games from Simcocks who has acted as a mentor. “All of my family have held very steady jobs, no-one has done anything entrepreneurial before so it’s been great to be able to call Phil and just get another opinion every now and then,” she says.

“I did have one sceptical advocate in the beginning, and it was a challenge to get people on board initially just because it was unfamiliar to them,” she says. “But now people understand the process and can see that it works, we have really good relationships with lawyers, accountants and estate agents all over the Island.”

“And of course I couldn’t do anything without my lenders – they are the backbone of the business, we simply couldn’t function without them. It’s great that, while they do earn a return from their investment, most of them are really keen to help people and that’s a key motivation.”

Zoe’s initial goal in setting up the business was to earn enough to buy a Range Rover Evoque (hence the business name). She has since decided against that (“not enough room for the dog”) and the very down-to-earth entrepreneur enjoys spending time on outdoor pursuits, including playing football for Douglas Royals and helping out with Claire’s horses. It’s her lenders, she says, that have helped her to realise that running her own business is as much about creating a nice lifestyle rather than generating millions in profits.

“One of the things I’ve definitely learned from my clients is that the flexibility to do what you want is actually much more important that what you’re earning,” she says. “I really want to keep our services affordable for everyone to use; I don’t want the lending we do to be only available to the high net worth or corporate markets.

“And frankly I wouldn’t know what do with millions anyway - apart from lending it. I certainly wouldn’t know how to spend it!”

59

entrepreneur Jamie Blair, Roots beverage co

What sits at the honeyed root of a successful company tree?

By Tanya August Photo by Matt Mosur

T

here are those who believe at the centerpiece is a pollination of ideas, flowering to create an ideology that grows and develops into something of an impressive, socially responsible venture. In it, holds the personality of a founder with a collective of values; like a butterfly effect through the organisation, as it blooms into nectarous profit.

60

ON THE AGENDA...

“Running your own business gives you the freedom and the creativity to do that.”

Sometimes, the best place to look into answering questions like these is often the obvious one. That’s why I caught up with a young man that sees Manx social responsibility, not as a PR tool, but quite the opposite; as a way to make money for his real passion: Bees and apiculture (or beekeeping).

Those tiny winged creatures really do thrive in the Isle of Man – and Jamie Blair is determined to help create a booming business to conserve the Island’s healthy, and unique population of his buzzing, disease-free bumble buddies.

Jamie: Roots Beverage Company was set up two-and-a half years ago in my Mum and Dad’s utility room. Slowly and organically, we have evolved into, well, a bigger business - as we stand today.

Over the past years, we’ve been developing the products – putting them out there, seeing what feedback we get, and making changes; changes to the labels, making changes to the flavours, adding carbonation, reducing carbonation, and that sort of thing.

We have lemonade called Honey Bee Lemonade, we have a ginger ale called Ginger Bee; and we have a tonic water range… So far we have Queen Bee tonic water and we have Rhu-Bee; which is a rubarb tonic water - available very soon and we have the Worker Bee - which is a premium Indian tonic water, as well.

Tanya: There’s a running theme here, isn’t there?

Jamie: Yeah, yeah (laughs).

Tanya: Now, I’m going to ask what’s important to you – we know that the bees are important to you, but why are they?

Jamie: I don’t know – like, businesses; what you do and where you work takes up a lot of your time in life. For me, one of the awesome opportunities of running your own business is that you can try and do amazing things on a daily basis. Running your own business gives you the freedom and the creativity to do that.

Tanya: Making small positive changes?

Jamie: Yes, that’s it. Making small steps and as we grow, we can implement more and more bigger steps along the way – huge changes. But for now, we have 10 beehives, and we’ve not done too bad in the past year.

Tanya: Why is it important to grow the bee population in the Isle of Man? Jamie: Well, I think that, personally, we have the best bee population in the world. On our Island, we are farming with methods that can’t be compared to anywhere else. What they do in America; with like globalisation and agricultural institutions; they’re just HUGE, and they

CONNECTING BUSINESSES

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entrepreneur Jamie Blair farm to make money. On Island, we don’t have that problem. The use of pesticides and fertilizers aren’t as vast as a small village in the UK or the US. We have this disease-free status, which is one of the reasons why the bee population is dwindling globally – down to this pest called Varroa Mites. Other than that, we have pretty clean air, and our soil is as organic as it’s going to get without being authorised by Soil Association Organic Standards.

Tanya: What else is important to you – you’re an entrepreneur, but now you’re also an author, aren’t you?

Jamie: Well, yeah! But I would use that term loosely!

Tanya: Hey, you’re writing and publishing a book…

Jamie: (Laughs) Through the experiences of the business, I like to sit down and reflect. I’ve been spending a bit of time talking about what Roots does in primary schools, and the kids have sort of inspired me to write a children’s book for when I do go in to talk to them – something to read to them.

The story is about Roo-Bee the happy, healthy honey bee. She goes around telling all of her friends about how beautiful and amazing the Isle of Man is for the bee population. It attempts to educate kids, and raise awareness of how brilliant our bee population really is.

We’re about 90 per cent there with that, and I’ll be self-publishing it initially, and see what the response is. I’m hoping it’ll be finished before the New Year.

Tanya: Is it collaborative?

Jamie: Yeah, exactly – with roots, we try to work with as many other creatives as possible. We’re working with Alice Rose Fayle Design on the book. For the Gin Festival, we worked with Seven Kingdoms Distillery, Noa Bakehouse, Drewry’s, Lewis Lewis, Talking Mongoose…

That’s something that’s very much at the heart of Roots Beverage Company.

Tanya: Alongside the investment you’ve had from government’s Enterprise Development Scheme – what other achievements have really stood out for you?

Jamie: Probably the Gallery Magazine Manx Startisan competition – which was through Shoprite. Roots was picked as a result of what we’re trying to do, and through that, we have had a listing on shelves in the stores – which there are so many in the Island! For a business that’s so young to be given the opportunity to go into so many stores like that, it’s a great experience – not just for the business, but also for me. What I can take from it is invaluable in knowing how to tackle

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growing and moving into the UK market…

Tanya: That’s something you can use as a marketing tool too, then? You already have experience of supplying…

Jamie: Yeah, definitely. Considering whom we’ve approached so far, that’s really helped. When they realised that we’re already in multiple supermarkets, it kind of ticks one of the boxes, so…

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Tanya: That moves us neatly on to what plans you have for the future.

Jamie: Well, I really want to just keep growing the business – and the bigger we get, the more impact we can have on leaving the world in a better place than what it is. It’s all about those small steps. At the moment, I’m trying hard to bag a client in the UK – and from there, I’ll take what I can learn from that experience and implement it into growing even further.

We don’t have a goal, per say – because if you achieve that goal, where do you go from there? It’s just about developing, growing, and learning as much as possible, and leaving the world in a better place as we go along.

Tanya: How far do you envision going?

Jamie: For me, on a personal level, I try not to get too attached to it. It becomes an addiction.

Without the support we’ve received so far on a personal level, a business level, governmental level, Roots wouldn’t be where it is. I’m incredibly grateful for the support the community has given the business, and also myself, aswell.

ON THE AGENDA...

entrepreneur Elizabeth Wells

Making the Mannin

the best place to be

By Wendy Shimmin Photo by Matt Mosur

With more than 30 years’ experience in the hotel business, Elizabeth Wells, Reservations Manager at the Mannin, is passionate about providing a top quality guest experience for the Island’s visitors.

I

t’s clear from the moment you meet her that Elizabeth relishes her role at the newest hotel on the Isle of Man and although it has been open for more than a year now, she is as enthusiastic about welcoming guests to it as on the very first day.

“So many people just see their place of work as somewhere they go to do their job,” she says, “But I feel lucky that I am part of a team who all wanted to come and work at the Mannin so it’s somewhere we really enjoy being.

“That attitude is something that’s hugely beneficial for our guests as, whether they are here on holiday or for work, the time they spend with us is never just a normal day for them. It’s important to remember that, it helps us to make sure they have a really positive experience.”

Clearly this is a view shared by guests as business has surpassed all expectations in the first 18 months of opening. “From a standing start, the business has taken off far better than we could have hoped,” says Elizabeth.

64

“We have already gained a lot of repeat customers, particularly in the corporate sector from businesses who accommodate their visiting staff here every week.

“Most of those companies have been in business a lot longer than us so it is especially pleasing that they choose to use us over longer-established hotels.”

As reservations manager Elizabeth’s responsibility is to get new business to the hotel and to look after existing custom, a job that’s made much easier by the quality and facilities of the fourstar hotel she says.

“As well as being the newest and most modern hotel on the Island, we offer all the key things that our guests want, whether they’re corporate or leisure,” she explains. “From the unlimited superfast fibre optic wi-fi, to air conditioning in every room which guests can monitor themselves, on-site car parking, laptop safes, irons and ironing boards, fridges, quality teas and coffees and complimentary toiletries.

“We concentrate on the key amenities our guests want and ensuring we deliver them well. So while we have flexibility to hold small meetings and events, for example, our guests aren’t subsidising empty function rooms.”

Flexibility is a significant feature throughout the hotel which has been designed to accommodate a wide range of travellers’ needs.

ON THE AGENDA...

“Of the 54 bedrooms, 20 of them are interconnecting to provide more space for families or they can be reconfigured as suites, with sofas, a dining table and a larger work area,” says Elizabeth.

“Each pair will have one room that has a mini-kitchen in it with a sink, microwave and crockery. These are a big hit with families who enjoy being able to cater for children, as well as long term guests who don’t always want to eat in the restaurant.

Other features include a choice of walk in shower or bath (suites are arranged so that they have both), flat screen TVs with HDMI connectors, and a choice of room type either with a sea or street view, or an internal balcony.

“Obviously the layout of the hotel had to fit the shape of the existing building, which is quite long and narrow, but the design has really made the most of the space so the rooms with balconies overlook a lovely light and airy atrium area where we have our bar, restaurant and lounge. This is becoming a very popular spot as a meeting place for friends to catch up and for less formal business meetings.

There are two fully accessible bedrooms for disabled guests, complete with emergency call cords and thoughtful extras such as electric curtains, and there is also a room that can be converted to a boardroom set up.

Elizabeth’s obvious pride in the facilities of the hotel is only natural as, along with General Manager Rom Kesa, she was one of the founding members of staff employed prior to the hotel opening last year to get it up and running. The appointment allowed her to draw on her years’ of experience in the hotel industry both in her native Zimbabwe and in the top hotels of the Isle of Man where she moved in 2002.

“The building was just a shell at the time I was recruited,” she says. “It was a great opportunity to help shape it into what you see today.”

Which makes her favourite part of the job – listening to guest’s comments and feedback – all the sweeter. “We have had really good feedback,” she says.

“People mention what a lovely hotel it is, how nice the staff are, how the beds are so comfortable. I am always thrilled when someone takes time out of their day to come and tell me about their experience. It’s the best feeling to have helped someone have a great stay.”

For more information on corporate rates, bookings or a tour of the hotel facilities, contact Elizabeth on 01624 602555, or email reservations@manninhotel.im

www.manninhotel.im CONNECTING BUSINESSES

65

work-life balance

Poolside working is no longer a sign of importance Not being able to switch off is becoming seen for what it is — a sign of poor time management

W

By Lucy Kellaway (FT)

hen I was at university I spent a summer travelling around Europe with some friends, and one of them suggested we drop in on his parents’ place in the south of

France.

There are two things I remember about that visit. There was the mortification of being greeted by a butler who ceremoniously carried my tatty luggage — a few things stuffed into a plastic bag — to the suite of rooms to which I’d been allocated. But what stays in my mind even more was the image of his father — who turned out to be a famous tycoon — clad in small swimming trunks with cigar clamped between teeth, holding a gin and tonic in one hand and a telephone receiver in the other.

The year was 1979 and this was what

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power looked like. The man was too important to be out of touch with the deals he was doing. So he had installed a telephone line by the swimming pool and passed his summers issuing instructions from a lounger by the water.

A quarter of a century later, technology allowed all of us to pretend to be tycoons.

We might not have had the butler or the pool house but everyone could head to the beach with a BlackBerry packed along with their towels. And because we could, we did. Only for most of us, what we were doing was not deals, it was responding to mundane inquiries that could have waited two weeks — or forever.

This year, I decided to do something radical that I hadn’t done for almost a decade. I took a proper holiday. I disconnected myself from work altogether.

I didn’t open any work messages. I spent

time reading, walking, looking at the sea — and sometimes getting into it — while I thought about not much at all. When I returned to work and reacquainted myself with email, it was perfectly straightforward.

I deleted almost all of them unread, responding only to the things that looked interesting. Far from feeling overwhelmed, I felt a certain excitement in the sudden immersion in work. It was a new-shoes and sharp-pencil sort of feeling that used to go with the beginning of a school term.

Over the past week it has started to dawn on me that my radical action was not radical at all. I was merely following the latest fashion.

Last week I sent an email to an entrepreneur I know, and within seconds the automatic reply came back: “I am on holiday until August 30 and will not be checking messages.” This was particularly remarkable given that last time I’d seen him — some five years ago — he had told me how he expected all his employees to respond to messages instantly wherever they were and whatever they were doing.

So I emailed back asking what had made him change his mind — but all I got in return was the same automatic message telling me he wasn’t reading whatever I was sending.

The very next day I got an email from a woman who I had contacted before I went away. It began: “Sorry for my radio silence — I have had a blissful two-week holiday and am just catching up on emails on my return.” Here was the same thing again: a driven, thirtysomething entrepreneur who wanted me to know not how hard she worked on holiday but how she loafed around, and how much she enjoyed it.

To see how widespread this change is, I’ve done a little experiment. I’ve collected all the out-of-office emails I’ve had this summer, and counted the number that were followed at once by an email sent from the beach. Three years ago, it was very unusual for an automatic message not to be quickly followed by a real one.

This year I’ve had a total of 38 automatic messages telling me the sender was away, only six of which have been succeeded by a personal, poolside reply.

Bragging about not working on holiday seems to be part of a wider trend — which I wrote about a few months ago — in which fashionable execs flaunt not their long hours, but their short ones. To be emailing from the pool does not prove you are powerful, it is starting to be seen for what it is — a sign of weakness, poor time management and an inability to delegate.

If you can take two weeks off altogether it shows you have overcome all gadget addiction, and like a modern-day tycoon can control when you work — and when you don’t.

ON THE AGENDA...

OUR NETWORK CONNECTS YOU TO THE WORLD. IMAGINE THE POSSIBILITIES. With an extensive global network, you could make things happen wherever you’re looking to take your business.

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To find out more, please call David Hill, Head of Corporate Banking in the Isle of Man, on: 684880**

*Source: HSBC network analysis, Global Insight (2015) and United Nations Conference on Trade and Development (2014). **Lines are open 9am to 5pm, Monday to Friday. Your call may be monitored and/or recorded for training and security purposes.

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