agenda | March/Spring 2017

MARCH/SPRING 2017

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An optimist’s guide to 2017 the year ahead what’s on your agenda what’s discussed around the table in your boardroom

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INSTITUTE OF DIRECTORS - ISLE OF MAN 10 Hope Street, Douglas, Isle of Man, IM1 1AQ www.iod.com

welcome

A

s we are moving deep in to the first quarter of 2017 I am delighted that you are now reading the second edition of Agenda which is produced in association with the Institute of Directors in the Isle of Man. It may also be the last time that I address you in my capacity as Chairman of the Branch as my four-year term of office will be coming to an end at the Annual Members’ meeting in May. The last four years have been interesting for both the IoD on the island and for the island itself both, of which, have had to face different challenges.

In the IoD we have seen our membership grow to over 300 local Directors and as a branch we now provide a programme of what, I think, are quality events to assist with Continuous Professional Development and networking opportunities.

In late 2016 the island elected its new MHKs and appointed a new Chief Minister and Treasury Minister and they face the unenviable task of re-invigorating the economy and making the island a place where you can do business as, sadly, we still see too many examples of bureaucracy and short term thinking getting in the way.

I hope that as an Institute we continue to grow and that as a ‘body’ of professional Directors, operating in many sectors of the Manx economy, we support Government where they need it and provide constructive criticism if we believe they deserve it.

It has been a privilege to be your Chairman over the last four years and I hope that you support my successor in the same way in the years to come.

In the meantime, I hope you agree that Agenda is a valuable addition to Isle of Man Business life and that it demonstrates the strengths and attributes of the local IoD and helps promote business and opportunity on our beautiful island.

Recycle Agenda recycles all its storage and packing materials, boxes and any old magazines that are returned. We don’t get that many fortunately. We love to know our readers hang on to previous copies but when they take up too much space, drop them down to the recycling bins. If you want to find out more about recycling - call: 01624 686540. Don’t forget you can view all previous issues on our website.

Disclaimer All rights reserved. Any form of reproduction in part or whole is strictly prohibited without the written consent of the publisher. Any views expressed by advertisers or contributors may not be those of the publisher. Unsolicited artwork, manuscripts and copy are accepted

by Agenda magazine, but the publisher cannot be held responsible for any loss or damage. All material, copy and artwork supplied is assumed to be copyright free unless otherwise advised.

Contributions for Agenda should be emailed to editorial@agenda.im.

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Clive Parrish Chairman Institute of Directors - Isle of Man

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CONTENTS UPDATE

3 6 8 10 12 14 15 16 20 22 26 28 29 30 32 34

WELCOME

What’s on your agenda?

NEWS MOVERS & SHAKERS CAINS ADVOCATES HAVE YOU HIT A CAREER PLATEAU? THE ISLE OF MAN BUDGET KEY POINTS

46 OPINION

YOUR IOD - COMMITTEE MEMBERS

60 62

YOUR IOD - MEMBER BREAKDOWN YOUR IOD - MEMBER INTERVIEW WITH TIM GRAHAM

YOUR IOD – THE ISLE OF MAN DIRECTOR OF THE YEAR AWARDS 2017

YOUR IOD - EVENTS THE KNACK OF SAYING NO

TEASING OUT TALENT E-CLUBBING

WI-MANX – STATE OF THE ART TECH WITH A LOCAL TOUCH DEVELOPERS LOOK BEYOND THE APP

ENTREPRENEUR

YOUR IOD – HOSPICE QUIZ NIGHT

YOUR IOD - CHARTERED DIRECTOR, THE LOW DOWN

56 58

TECHNOLOGY

YOUR IOD - THE YEAR AHEAD

YOUR IOD - CYBER SECURITY BREAKFAST MEETING

SPECIAL REPORTS

42

KNOX HOUSE TRUST – THE TEAM THAT MAKES A DIFFERENCE

46 48 50 52

WHAT’S ON YOUR AGENDA? CHANGES AHEAD TO THE TAXATION FOR UK RESIDENTIAL PROPERTY HOW WILL THE ISLE OF MAN GROW? ICE TOTALLY GAMING 2017 REVIEW

64 66 69 70 72

BRETT TURNER RELATIVE VALUES – JO & JUNE WHITEMAN TRACEY BELL KEIRRON TASTAGH PETER VERSTAGE

RECHARGE

76 78

SMART SURROUNDS LONDON SPEND IT ON…

CONTRIBUTORS Claire Veale Wendy Shimmin Michelle P. Tonnesen Matt Mosur Les Able Clive Parrish Tamarin Marriott-

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Wilkinson Lisa Pollock (FT) Lucy Kellaway (FT) Simon Nicholas (KPMG) Glenn Cassidy (EQUIOM) Simon Pickering (DED) Tim Bradshaw (FT)

ON THE AGENDA...

Savings accounts and mortgages for local residents YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP YOUR REPAYMENTS ON YOUR MORTGAGE All applications are subject to status and our lending criteria

641 888 19/21 Prospect Hill, Douglas santander.co.im Santander International is the trading name of Santander UK plc, Isle of Man branch. Santander UK plc. Registered Office: 2 Triton Square, Regent’s Place, London, NW1 3AN, United Kingdom.

Registered Number 2294747. Registered in England and Wales. www.santander.co.uk. Telephone 0800 389 7000. Calls may be recorded or monitored. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is 106054. Santander UK plc is also licensed by the Isle of Man Financial Services Authority for its branch in the Isle of Man. Deposits held with the Isle of Man branch are covered by the Isle of Man Depositors’ Compensation Scheme as set out in the Isle of Man Depositors’ Compensation Scheme Regulations 2010. In the Isle of Man, Santander UK plc’s principal place of business is at 19/21 Prospect Hill, Douglas, Isle of Man, IM1 1ET. Santander and the flame logo are registered trademarks.

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update news

Jon Moulton

Fiona Le Poidevin

CISE set to open Isle of Man office, rebrand as TISE

T

he Channel Islands Securities Exchange (CISE) has announced plans to open an office in the Isle of Man and rebrand as The International

Stock Exchange (TISE).

The Exchange, which is headquartered in Guernsey and opened an office in Jersey at the start of 2015, will rebrand as TISE

from 6 March and plans to launch its presence in the Isle of Man on 9 March.

sustainability of buildings and promote low-impact design, reduction of carbon emissions and protection of ecological value.

Dandara’s work on the site has been

highly praised by the Considerate Constructors Scheme, an industry-leading body, which highlighted ‘excellent’ and ‘exceptional’ standards following an independent inspection late last year.

www.thecise.com

DANDARA HOSTS SENIOR DELEGATION VISIT TO ZURICH INTERNATIONAL LIFE’S NEW OFFICES

A

senior delegation from Zurich International Life (ZIL) has toured the firm’s new offices which are nearing completion on the Isle of Man Business Park.

Award-winning developer Dandara is constructing ZIL’s new premises and hosted the visit by a group of company representatives headed by Chief Executive Office Clive Baker. He was joined by Isle of Man-based senior management and members of Zurich’s off-Island Corporate Real Estate team.

The bespoke development was designed to meet ZIL’s thorough brief, to create a state-of-the-art facility. It will be the first major Isle of Man office development to be completed to Building Research Establishment Environmental Assessment Methodology (BREEAM), a demanding sustainability assessment process for master planning construction projects to promote long-term

6

ON THE AGENDA...

Sure starts work on multi-million pound business-to-business fibre network

S

ure is investing two million pounds in a business-to-business (B2B) fibreoptic telecoms network to provide businesses in Douglas, Castletown and the Isle of Man Business Park with more choice of products and services.

This investment will allow Sure to become an end-to-end provider of enterprise connectivity, supporting Sure’s hosting, cloud and security solutions plus fixed and mobile telephony services as well as facilitating the launch of new products into the market.

Chief executive of Sure in the Isle of Man Mike Phillips said: “Sure has identified a number of areas across the island where businesses are underserved from a technology, product, service and value perspective. Our investment in building our own B2B fibre network will increase customer choice by offering

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a variety of competitively-priced data services using the latest technology.

“The new fibre network introduces competition into a critical island infrastructure market and will help to drive innovation in the enterprise sector whilst supporting the local business community and the island’s growth aspirations.

“Carrier diversity and resilience are also key considerations for businesses and vital for good corporate governance so our investment will be a huge benefit for companies already based here and a key attraction for those thinking about setting up here.

“We’ve identified a clear market demand for more competition in this space so we very much see this as a rolling programme of investment and we plan to expand the fibre network to provide even

more local businesses around the island with new alternative products and services in the future.”

The project has led to the expansion of the Sure team locally with a number of newly-created roles in the Isle of Man to support the large-scale works and the company‘s growth in the enterprise sector.

Sure is also working with a number of local companies, including civil contractor Stephen Christian & Sons, on the construction and cable-laying elements of the scheme.

“Once the project is complete businesses will have access to a new, robust and reliable telecoms network linking the Isle of Man to the rest of the world,” said Mr Phillips “This investment will play an important part in the island’s ability to innovate and create our future industries and future economic successes, as highlighted in the Isle of Man Government’s Vision 2020.”

Sure’s new fibre-optic telecoms network will be available to businesses from Spring 2017.

7

update movers & shakers

Lynsey Smith is awarded RI status by ICAEW

B

rowne Craine & Co (“Browne Craine”) is delighted to announce that director Lynsey Smith has been awarded a Responsible Individual (“RI”) status from the Institute of Chartered Accountants of England and Wales (“ICAEW”).

“I’m delighted to have been awarded the RI status from the ICAEW,” said Lynsey who leads the Audit Department at Browne Craine. “In recent years, achieving RI status has become more difficult for local auditors due to the requirement to demonstrate detailed relevant UK statutory audit experience.

Obtaining the coveted RI status means that I can now sign off UK audit reports as well as the Isle of Man equivalent. Browne Craine has traditionally offered audit services to UK registered clients in the past and I am delighted that my approval means that we are able to continue to deliver this valuable service to our existing and prospective client-base.”

“Congratulations to Lynsey on gaining the RI status,” commented David Craine, director at Browne Craine. “The difficultly for Isle of Man accountants is to achieve the required 240 days of appropriate audit experience, with 120 of those days working on UK statutory audit work. It isn’t an easy thing to obtain and requires a lot of hard work and dedication to the person’s job. Well done Lynsey.”

The Needle appoints new Non-Executive Director

I

sle of Man based, video interview software developer The Needle has announced the appointment of NonExecutive Director, Jennifer Houghton to join the team effective immediately.

Commenting on the announcement, The Needle’s CEO and Co-Founder Christine Tautari said: “This was an easy appointment to make. Jennifer has extensive experience within finance and technology start-ups which is where we see clear benefits of bringing Jennifer onboard. We are also looking

8

at maintaining our current growth and looking at new sources of finance, two areas that Jennifer has had considerable success in previous roles and we welcome this expertise to The Needle.

Also, commenting on the appointment, Jennifer Houghton said: “I am very excited to be joining the strategic team of a rapidly expanding technology firm.

I look forward to working with Christine and her team as the company continues to grow its customer base and market share.”

ON THE AGENDA...

KNOX HOUSE TRUST GROWTH PLANS TAKE FLIGHT

M

r. James Porter has been appointed Business Development Director of Knox House Trust Limited (KHT).

This latest appointment forms part of the company’s growth and development plans, and will see James work alongside recently appointed Managing Director, Mr Anthony Page.

Commenting on his appointment James said, “I am delighted to be appointed to the Board of Directors and to be in a position to help influence the significant steps we are taking to expand the company’s profile across the globe. Being part of the Knox group of companies enables us to draw on the collective expertise available, when and where necessary, allowing us to create seamless solutions which offer a considerable proposition to clients and their advisors. Working with colleagues

based both on island, in the UK and further afield will open up tremendous opportunities for the company and enable us to further extend our reach. This is an exciting time not only for me to be very much part of the next development phase of the company but also for the existing Knox House Trust team.”

Managing Director Anthony Page welcomed the new appointment and added, “James is a proven member of the Knox House Trust team and his hard work and dedication over the last 18 months has been recognised at board level. This role is a significant undertaking for us, and we are confident that James has the requisite skills and experience to spearhead new relationships which will enable us to achieve our business goals with minimum distraction.”

Equiom’s Rob Haddow gains key industry certification

R

ob Haddow, Group Data Protection Officer and Corporate Governance Officer at Equiom is one of the first on the Isle of Man to obtain the Practitioner’s Certificate in Data Protection. Accredited by The Law Society (of England and Wales) and The Bar Council, the Certificate is one of only a handful of industry specific qualifications for professionals in the fields of data protection and privacy.

Rob, who is already a qualified Isle of Man Advocate and Chartered Certified Accountant, commented: ‘This new qualification helps to demonstrate I have the skills required and expected of my position as Equiom’s Global Data Protection Officer. As my job involves overseeing Equiom’s compliance with data protection laws in each of the jurisdictions we operate in, including oversight of Equiom’s local data protection officers in each of those jurisdictions, it is important for me to have an in depth understanding of the general laws surrounding this area.

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9

update cains advocates

Cains Advocates “I firmly believe that small jurisdictions like the Isle of Man cannot afford to be mediocre in a globalised economy.”

Words By: Les Able Photo: Matt Mosur

10

S

trong words from Andrew Corlett OBE, managing director of leading Isle of Man-based law firm Cains Advocates and internationally regarded as one of the respected legal figures in the Isle of Man and the offshore world.

In an interview with Agenda he adds: “The economic offering has to strive for excellence as it does not have the scalability to compete on volume or price. As the Isle of Man’s business sectors become more diverse, the same

is true for the Isle of Man’s professional services firms, including Cains.

“We need to broaden and deepen our offering, driven by the increasing expectations of clients, the complexity of their affairs and thereby the advice required.”

His comments come in the wake of Cains announcing in recent weeks three high profile appointments. They are Garry Manley and Joel Taylor in corporate and Jacqui Owens in litigation.

“I am delighted to welcome them,” adds Mr Corlett. “Each of them materially strengthens us in our core areas of legal practice. All three combine extensive high level metropolitan experience with a strong desire, both to move Cains forward and contribute to the economic development in the Isle of Man.”

Garry Manley, a former head boy of St Ninian’s High School, who went on to become an international ON THE AGENDA...

Jacqui, whose work for high profile law firms in the City resulted in her wideranging international dispute resolution experience.

Jacqui joins Cains from the litigation department of Simcocks Advocates, where she handled high value commercial disputes and assisted the corporate department with insurance issues.

“My 15 years working for leading City law firms allowed me to gain extensive insurance and reinsurance market experience, including managing inspections, coverage and agency related disputes,” said Jacqui, who has been featured in the prestigious Legal 500 for her insurance knowledge .

“Cases typically involved allegations of fraud, misrepresentation, negligence, breach of contract, insolvency and trust issues. What is particularly stimulating for me in joining Cains is that it offers an absolute match for industries I have always worked in. It epitomises so much of the background I come from as a result of working in the City.”

Since moving to the Isle of Man, Jacqui has continued to advise on commercial and litigious insurance and reinsurance matters as well as developing a broader practice focused on the financial services and investment management sector.

(L – R) Tim Shepherd, Garry Manley, Jacqui Owens, Joel Taylor, Tristan Head

corporate lawyer, has returned to his Isle of Man roots.

He joins Cains from New Yorkheadquartered international law firm Cleary Gottlieb which, with 16 offices spread across the world, is one of the world’s leading corporate law firms.

Garry, 32, joined Cleary Gottlieb (whose clients include Google, Coca-Cola, Walt Disney and the governments of Greece, Russia and Argentina) in London in 2007. He has also worked in New York from 2008 to 2009 and Hong Kong from 2011 to 2015.

He has broad transactional experience, having advised extensively on crossborder mergers and acquisitions, capital markets and financing transactions.

“Cains is the Isle of Man’s leading corporate law firm, so it was the obvious place for me to continue my career having made the decision to come home and I am excited to join the team. I think it is CONNECTING BUSINESSES

crucial for lawyers to work collaboratively to serve the interests of their clients, and that is very much the model operated by Cains.”

Garry’s final deal at Cleary saw him advise one of the members of the consortium that agreed in December 2016 to buy a 61 per cent stake in National Grid’s gas distribution business. With a total enterprise value of around £13.8 billion, the Financial Times described the deal as “one of the biggest British infrastructure deals in recent history”.

Expanding its litigation department in the face of increased demands from both current and potential new clients sees the appointment of experienced advocate Jacqui Owens.

“Not only is Cains a leading law firm but it is outward looking and has both national and international platforms,” said

Australian barrister Joel Taylor in joining the corporate team brings with him over 15 years of offshore legal experience.

“Cains has always impressed me by looking for growth opportunities and the fact that all its decisions are made in the Isle of Man, and not elsewhere which can often involve global politics,” said Joel.

Previously a consultant for four years with Appleby in both London and the Channel Islands, including secondment to the Isle of Man in the summer of 2013, he added: “I regard Cains as a highly professional and innovative Isle of Man law firm. It has a low turnover in staff and emphasises achieving a good work/life balance.

“The Isle of Man is a jurisdiction of real substance which differentiates it from some other jurisdictions,” adds Joel.

In 2001 he left Australia to join the Guernsey firm of Collas Crill (Collas Day as it then was) and later in 2006 he joined Ozannes (which became Mourant Ozannes) as a consultant before joining Appleby in 2012.

His practice covers banking and finance, mutual funds, private equity and corporate transactions and he has specialist expertise in establishing and listing investment vehicles/securities and advising in relation to financial services and regulatory matters.

11

update feature

What can I do if I hit

a career plateau?

Words by: Angela Ogier (FT)

12

ON THE AGENDA...

W

e often expect that our careers will contain constant excitement and will always be an upwards climb. However, this simply is not true. There will be times when work is a little less than exciting and it is not just about climbing the career ladder. What can you do when you feel that your career progression has stalled?

How long must I wait before I move on?

Generally, you will spend time learning the job, mastering it and looking for your next position. The time for each of these phases is dependent on your competency, the dynamics of the position and your organisation. Often you will be able to get a feel for the ‘residence time’ of a position from looking around your organisation.

You will see whether people generally spend two or three years or longer in a position. In more complex roles and industries, the residence time may be longer.

You can then objectively assess whether you are following that rate. It may be that there are outliers in the organisation who are promoted quicker than this general rate. However, expecting to be promoted quicker than this norm may only lead to disappointment.

You might also like to tap into your business school careers service. They may be able to guide you on the general rate of advancement and what positions you can expect after a number of years.

What can I do about a lack of progression?

If you think you are starting to have outstayed your residence time in a position, you need to start searching around for new opportunities. Talking to your manager about opportunities coming up is a good start. Try to also have a frank conversation about what the barriers are for you taking up new positions. This will help you develop a plan to overcome these deficiencies and will assist your manager in supporting your move.

A mentor is always invaluable in this space. Talking to people about how their careers have developed and what positions they have taken on will give you valuable data on which to base your expectations.

You will also gain an ally for advancement if required.

Another option is to look for leadership opportunities outside work — rotary clubs, charity work, trustee or unpaid directorships. This will assist you in being able to demonstrate leadership and it can be invaluable on your CV. You might also gain some opportunities from your business school.

Faculty may be able put you in touch with others in your field, contacts for a mentor or external leadership opportunities.

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What about a sideways move?

A career is not always upward. This is an absolute truth. If we only moved upward then we would not be able to understand all the different facets of complex industries. A chief executive who did not have a couple of sideways moves will have a shortlived leadership career.

If there is not an upwards move available, there may be an avenue that you can use to broaden your experience.

This is important for general management positions as you will be able to gain a diverse knowledge of the organisation.

If you wish to work in other areas of a company, then explore options such as secondments, job shadowing and taking on new projects. Also, ask your manager if it is possible to undertake some training if you have gaps in your knowledge.

What will turn a plateau into a slide?

You are guaranteed to prolong your career plateau if you believe your own hype. We all know what this looks like: no longer putting in the effort and lacking a positive attitude. It can be hard to keep professional, but it is very important to do so. Even if you have mentally checked out, you need to be positive as your colleagues will remember negative behaviour.

If you are in a bit of a lull, look outside the workplace to recharge yourself — try a new skill or sport. Always have energy as you never know when you will need a favour from your colleagues.

What happens when you do not move on?

Sometimes there are simply no opportunities for advancement in your company. Your boss may be new to their role, which will mean a significant wait before any upwards move. Or your company may be downsizing.

Either way, it might be the time to move on to another organisation. If you have maintained your professionalism to the end, your colleagues and manager will respect your move to a role with more room to grow.

13

update budget

Isle of Man Budget 2017 key points from the 2017/18 Budget: £2,000 to £12,500

n Income tax allowances rise by £2,000 to £12,500.

20%

£388m

n The 20% personal tax threshold remains at £19,000 but from 2018-19 the tax cap will rise from £125,000 to £150,000.

n A capital expenditure budget of £88m was announced for 2017-18 with £388m invested in infrastructure during the next five years.

5

n Value of reserves today is £1.6 billion projected to rise to £1.66 billion by 2021/22. n Use of reserves in 2017/18 is budgeted at £80 million, including £50 million of investment income. n Five Year Financial Plan to secure a sustainable reserves position by 2021/22.

n Five-year capital investment programme of £388 million, including £298 million of engineering and construction projects, supporting the public service infrastructure, economy and employment.

n £1 million to establish a new Brexit Fund, for issues arising from the UK’s departure from the EU.

£25m n Creation of a new government team to identify £25m in efficiency savings each year.

n New benefit in kind incentive to encourage cycling to work.

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£50

n Continuation of the £50 million Enterprise Development Fund and zero/10% corporate taxation regime for business.

8% to 11%

n In line with the UK, abolition of Class 2 National Insurance contributions for the self-employed with an increase in their Class 4 contributions from 8% to 11% from April 2018.

ON THE AGENDA...

update Iod-iom MEET YOUR INSTITUE OF DIRECTORS - ISLE OF MAN COMMITTEE

CLAIRE VEALE

SUE PRESKEY

(Executive Officer)

(Secretary) Managing Director Duncan Lawrie Private Bank

JENNIFER HOUGHTON Annexio

CLAIRE MILNE

PAUL MCAULEY Treasurer Lloyds Bank International Limited

Isle of Man Member Benefits QUICK LOOK n Discounted entry to

Rendezvous Lounge and Speedy Park at the IOM Airport

Partner Appleby

JOHN HUNTER

UK Manager Department of Economic Development

n Discounted VIP

Business Travel and Airport Transfers with K&B Carriage

n Discounts on Leisure

and Business Travel with Richmond Travel and MannLink Travel

n Discounts on selected

training courses with TLC

FINDLAY MACLEOD Managing Director Isle of man Creamery Ltd

PETER REID

Island Director & Head of Banking Lloyds Bank International

SALLY BOLTON Director Corlett Bolton & Co

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 For all benefits www.iod.com/ home/membership/ membership-benefits/ default.aspx

ALICE MARTIN

Chief Operating Officer Isle of Man Government (Attorney General’s Chamber)

MARK WATERHOUSE

Board Member Isle of Man Financial Services Authority

DEB BRYON Director of IT Hansard

Institute of Directors Isle of Man www.iod.com/eventscommunity/regions/isleof-man

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DAWN WEBB

Managing Director Dawn Webb Advisory Limited

15

update the year ahead

An optimist’s guide

to 2017

Words: Tim Hartford (FT)

Y

ou could say 2016 was a grim year. In the UK, half the voters were so aghast at the state of the nation that they voted to leave the EU; the other half were aghast at the result.

In the US, a similar situation: half the country is appalled at the prospect of President Trump, while the other half elected him because they were appalled at

16

the status quo.

We can remind ourselves that things would be very much worse if we lived in Syria — but while that’s reason for gratitude, it’s hardly a source of comfort.

Still, there’s a lot going right in the world. Noticing the good news as well as the bad is not just reassuring — it’s also essential for making reasoned policies.

ON THE AGENDA...

So, here are five reasons to be cheerful in 2017 n We’re healthier than ever before.

A century ago, global average life expectancy at birth was just 35. When I was born, it was 60. Recently it rose above 70. Even in Africa and the former Soviet Union, where life expectancy fell in the 1990s, the upward trend has resumed and longevity is now at the highest level yet recorded. Partly this progress is thanks to far more widespread access to good sanitation. And it’s partly because there are treatments — vaccines and antibiotics, for example — that were not available for any money 100 years ago but now cost pennies. Charles Kenny, author of Getting Better (2011), wrote: “Countries as poor and wretched as Haiti, Burma and the Congo have infant mortality rates today that are lower than those that any country in the world achieved in 1900.” There is a much-noted exception to this finding.

Late in 2015, economists Anne Case and Nobel laureate Angus Deaton found that mortality has recently been increasing in middle-aged non-Hispanic whites in the US. The finer details of that finding have been disputed but it’s certainly clear that this particular group hasn’t been enjoying the advances in health that are so widespread elsewhere. Yet it’s only striking news because lack of progress in health is so unusual. n Despite this increase in life expectancy, the number of people living on the planet is increasing much more slowly than in the 20th century.

World population growth, which was an unsustainable 2 per cent a year in the 1960s, has been falling steadily and is about to drop below 1 per cent a year. This is good news for the planet. n The world economy continues to grow and, despite a decade of economic distress in the US and Europe, world growth rates have reliably exceeded 3 per cent.

At such a rate, the world economy itself doubles in size every 20-25 years.

Such growth poses serious environmental challenges but, on balance, it’s a lot better than stagnation. According to data assembled by the economist Max Roser, the proportion of the world’s population living in the most extreme poverty has fallen from about 95 per cent two centuries ago to about 60 per cent 50 years ago to about 10 per cent today.

n The fruits of this growth are not quite so unevenly distributed as some commentary would have us believe.

There is no one simple way to measure global income inequality but it’s reasonable to describe it as falling: China and India, after all, are large, poor and growing quickly. In the US, income inequality has risen. But in the UK, it has not — at least, not for a generation.

Income inequality across most of the UK population increased dramatically in the 1980s but has fallen a little since then. At the very top of the UK income distribution, inequality continued to increase for longer. Yet it fell after the financial crisis, and the share of income enjoyed by the top 5 per cent, top 1 per cent and top 0.1 per cent is lower today than it was in 2000. Inequality is still high in the UK, but this is an old problem rather than a worsening one. n Finally, there’s the decline in war, murder, torture and many other kinds of violence over the long run, certainly since 1945 and, arguably, over a much longer period.

It was most famously documented by Steven Pinker in his 2011 book The Better Angels of Our Nature. Is this certain to continue? Perhaps not in a world where nuclear war is possible. Nevertheless, so far, so good. None of this is to suggest that all is well. There’s plenty to concern any reasonable person, from the growth of nationalism in Europe, to Donald Trump’s apparent belligerence, to the alarming changes in the planet’s climate, to the ability of terrorists to strike in Europe’s capitals. So I’m worried about what 2017 has in store for us. But it’s not because I think the world is going to hell. It’s because I think we have so much progress to celebrate — and so much to lose.

THE YEAR AHEAD The Institute of Directors Isle of Man Members Opinions We spoke to some of the members and experts in their industry sector about what lies ahead for the Isle of Man in these times of global uncertainty.

The Members Panel WEALTH & INVESTMENT: Anthony Page, Managing Director, Knox House Trust Limited LEGAL: Charles Coleman, Director, Gough Law TECHNOLOGY: Kurt Roosen, Chairman, MICTA TOURISM: Brian Kelly, Chairman, ORTG RETAIL: Adrian Higgins, Director, Specsavers MANUFACTURING: David Hester, Chair, Chamber of Commerce Engineering and Manufacturing Committee

>>>

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17

update iod-iom members

WEALTH & INVESTMENT

Anthony Page, Managing Director, Knox House Trust Limited

W

hat a twelve months or so it has been; Trump is President, the UK has its second female Prime Minister, and the country is in political turmoil after the EU referendum! What impact this will have on the Isle of Man and the fiduciary sector? Only someone with a crystal ball would be able to accurately predict, but change is definitely afoot.

Brexit is most likely to impact on our sector along with the ever changing regulatory environment and global legislation that dictate how we operate, who we operate with and what solutions we can offer our clients. The offshore fiduciary sector that I first worked in some 20 years ago is very different from the one I work in now, much for the better.

The IOM is rightly held up as a leading light in terms of regulation, compliance and good business practice. The key foundations have been laid, to ensure the island remains an attractive proposition to clients who seek reassurance that their affairs are managed and controlled in a highly regulated environment.

Brexit has and will continue to create uncertainty and perhaps even a change of focus, but the island and the fiduciary sector is extremely well placed to adjust and move forward.

TECHNOLOGY

Kurt Roosen, Chairman, MICTA

18

U

nless you have been in a cave for the last decade you couldn’t fail to have noticed the relentless march of technology and innovation. Quite apart from being immune to this, the access a global market that technology and communications creates, gives ever increasing opportunities for the Isle of Man that could very well be unique.

In a world of innovation there is a place for stability and certainty and we have built that up in our business community over decades. We regulated and held safe financial information that then embraced the use of IT. We then went on to support a pure electronic form of trading trough e-gaming. This evolution of appropriate privacy combined with an ethical nature that a small community creates, has become a valuable commodity in a rapidly moving world.

We have a huge opportunity to capitalise on this stability to a significant centre for the storage, protection and processing of large volumes of high value or highly significant data, acting as a safe harbour. To do this we have to be slightly bold and be capable of moving quickly and decisively to standardise and regulate – but this is what we should be good at.

Time to use our attributes of intelligence and stability and export them to the world.

LEGAL

Charles Coleman,Director, Gough Law

A

fter a number of surprises during 2016 (Brexit, Trump) the Isle of Man’s legal sector, like much of the world, awaits development on the macro level, driven (of course) by the demands of international business, many of which are adopting a “wait and see” approach. Opinions vary on whether these developments will be a good thing or a bad thing for the Island’s business and legal community but the answer is probably that it is too soon to tell. 2017 is likely to bring some further clarity to the position.

On the local level, the litigation market continues apace, with an increased emphasis on regulation and enforcement. The FSA and Attorney General’s chambers are engaging in high profile directors’ disqualification and AML criminal enforcement proceedings and advisory and defence work on behalf of Directors, MLROs and others accused of wrongdoing or misfeasance is likely to be a growth area for lawyers. The increasing prevalence of investigations and prosecutions should be a warning to all those with potential exposure to seek advice sooner rather than later – often before you make the decision which is the cause for concern. Other growth areas are those arising from cyber-attacks and “spoofing” emails causing transfers of funds and related insurance litigation (insurers often deny liability for transfers caused by spoofing as opposed to actual password “hacks”). Ensuring that your staff understand the danger and showing that you have taken “reasonable steps” to avoid spoofing attacks is often key in these kinds of insurance disputes.

ON THE AGENDA...

TOURISM

Brian Kelly, Chairman, ORTG

W

ith UK visitors numbers unexpectedly dropping post Brexit, can the Isle of Man expect to see a decline in visitor arrivals in 2017?

Brian Kelly Chairman of the Online Regional Travel Group Ltd who operate escapetherock.im and the only online destination website dedicated to the Isle of Man VisitIOM.co.uk thinks the Island will have a challenging year but it’s not all bad news.

Numbers are likely to run flat against 2016 with a real squeeze on all types of accommodation space through the summer months, highlighting the Islands shortage in tourist beds. The redevelopment of the Mount Murray Hotel, an additional 30 bedrooms at the Park View Hotel in Ramsey and the potential of new tourist accommodation at Glen Truin Golf Course in Bride under its new ownership is great news. Not so positive is the recent loss of the Admiral House Hotel on Loch Promenade and no further announcements on the many talked about hotel developments.

The Island continues to attract an increasing number of diverse conferences and events, the established Aviation Conference in June and new for 2017 the North Atlantic Native Sheep & Wool

RETAIL

Adrian Higgins, Director, Specsavers

R Conference in October. Both attracting 100’s of delegates from around the globe. Our aviation links remain fragile with a shortage of flights out of London at weekends throughout the year and reliability of service is always an issue.

The recent Easy Jet announcement and the introduction of flights from the Isle of Man to London Luton is a welcome boost, reasonable flight times and departures Monday, Wednesday and Friday allows visitors to stay for just the weekend or longer.

With the Island competing in the short break market the competition remains stiff and we must continue to establish niche offerings to encourage travellers to sail or fly to the Isle of Man. This is perhaps our greatest challenge.

MANUFACTURING

David Hester, Chair, Chamber of Commerce Engineering and Manufacturing Committee

T

he Engineering and Manufacturing sector on the Isle of Man represents around 8% of employment. The sector has a long history and a strong association with high value products such as those used for aerospace or oil and gas applications. But there are also companies feeding many other markets from consumer goods through to medical devices (and the food and drink manufacturing sector that also employs significant numbers).

The sector is facing similar challenges to others in terms of global economic and political instability, but also has been facing specific issues such as the reduction in oil price (which has an effect on demand for all kinds of products, including aerospace, due to the temporarily lower fuel prices). Despite these challenges, there are still several job vacancies open in the sector and an ongoing need for highly skilled people to fill these positions. The recent expansion of the UCM engineering facilities and increased numbers choosing engineering related training courses is helping to create the qualified and skilled people needed.

CONNECTING BUSINESSES

The Chamber of Commerce continues to work alongside Government to raise awareness of engineering careers in the schools. This availability of skilled people remains the most critical foundation for growth of the sector. There is a shortage of skills and high quality manufacturing capacity across the world and the Isle of Man is well positioned to become a niche but important part of the solution.

For more information please visit www. engineeringiom.com.

etailing continues to be in a state of flux and I envisage further fundamental changes. In 2017 Manx retailers will have to focus on accelerating change in their businesses as retailing becomes more personalised, sociallyinfluenced and collaborative in the future.

In many ways the Manx retail sector could not be in a better place. Interest rates are at their lowest for many years and while borrowing is cheap and saving may be futile, now is the time for shoppers to spend.

It is also a good time for retailers to invest in their business. The store of the future will be heavily influenced by technology. As part of the effort to provide customers with better experiences, retailers will incorporate technology even further into their businesses. Evolving technology in the retail industry will be instrumental in enticing customers into physical stores.

While ecommerce continues to gain channel market share, offline retail still drives the majority of retail spend.

Ecommerce will still most likely grow at a faster rate, but what we’ll continue to see more of in 2017 is retailers moving towards an integrated commerce model where the brand has multiple selling touch points for customers to interact with.

Retailers who can provide a unique in-store experience will grow. The only way to justify a customer making the trip to your store is to give them an experience they can’t get anywhere else.

It will be vital to offer convenience and accessibility. When people can shop online, it takes the promise of a quick, easy experience to entice them to visit the local physical location. Looking forward, retailers must put the customer first. This will require collaboration with unconventional partners to improve speed and quality of service while providing additional choice for customers.

Customers are searching for personalized shopping experiences they can really connect with, so 2017 should see retailers testing new ways to appeal to this desire. The challenge for retailers is to find how to offer the best mix of services and experiences to draw in customers who would otherwise shop online. The secret is to create and build long term relationships in a brick, click or phone culture that keeps customers coming back forever. Find the solution and the future looks bright.

19

update Institute of directors - isle of man

25.67%

3.67% 17.00% Member Types n Members who are Chartered Directors n Fellow Members n Associate Members n Full Member

Gender n Female n Male

5.00%

77.67% 74.33% The Institute The Isle of Directors Members in of Man The Institute of Directors in The Isle of Man totals some 300 members.

Here we look at the percentages of the totals.

0.34% 8.08% 9.09% 15.15%

Date Range n Under 30 n 30 - 40 n 40 - 50 n 50 - 60 n 60 - 70 n Over

31.65% 20

17.00% 1.67% 2.00% 4.67% 35.69% 3.33% 3.33% 4.67% 1.00%

Job Title

n Director n Partner n Chief Executive n CFO, COO n Chairman n Manager n Non - Exec n Company Secretary n Other

62.33% ON THE AGENDA...

administration 1.85% nandPublic defence; compulsory

Wholesale and retail trade (including motor vehicle repair, 1.48% nplumbing, gas, electricity maintainence and repair etc.)

social security

1.85%

0.37%

4.44%

n Other service activities

n Transportation and storage

3.33%

n Accommodation and food service activities

40.00%

n Manufacturing

1.11%

1.48% n Real estate

n Human health and social work activities

activities 4

2.22%

0.37%

n Accountancy

n Water supply; sewerage, waste management

n Information and communication

Sector

36.30%

1.48%

n Construction

0.37%

n Administrative and support service activities

0.74%

n Energy production and transmission

0.36%

1.08% 16.55%

5.40%

6.47%

Annual Turnover

7.55%

2.52%

0.36%

15.47%

CONNECTING BUSINESSES

0.74%

n Activities of households as employers; undifferentiated goods-and servicesproducing activities of households for own use

n Financial and insurance activities

0.37% n Education

1.48% n Arts, entertainment and recreation

3.24%

32.37% 8.63%

n Between 0‐10 k 0.36% n Between 10.1M - 20M 3.24% n Between 1M - 5M 32.37% n Between 20.1M - 50M 8.63% n Between 200.1M - 500M 2.52% n Between 201 - 250k 15.47% n Between 251 - 500k 0.36% n Between 5.1M - 10M 7.55% n Between 50.1M - 100M 6.47% n Between 500k - 1M 16.55% n Between 51 - 100k 1.08% n Over 500 M 5.40%

21

update Iod-iom member interview

“There is always a need to engage with businesses better.”

22

ON THE AGENDA...

When Wildlife Becomes Your Li f e Interview with Tim Graham, CEO of Manx Wildlife Trust

Words by: Michelle P. Tonnesen Photos: Matt Mosur

CONNECTING BUSINESSES

Y

ou can tell that Tim Graham is enthusiastic about his job from the moment you meet him. His eyes are alight as he describes the admirable vision and work of the Manx Wildlife Trust (MWT), which ranges from actively managing 24 local nature reserves to providing environmental education and awareness throughout the community.

The challenges are aplenty, but so are their achievements.

“Our vision is to see an Isle of Man where each year there is more wildlife, more places for it to flourish and more people with connection to nature. Our core is about nature reserve, saving plots of land, but without fencing people off.

People need to know, experience and value it in their everyday life or they will not see the point. Conservation can get very technical, so we have to involve people to ensure everyone understands how we make a difference and why it is important to support us. Part of all work and projects we do is about engagement.

We have to be relentless in our communication. We have an education officer who delivers courses and activities, which in turn gets people inquisitive and discovering things. We work with schools linking in with the curricula, ensuring Manx wildlife focus is included – in the class rooms and outdoors.”

From Lancashire originally, Tim moved from Yorkshire to the island to take on the role as CEO of MWT in March 2016.

“It was not necessarily an easy situation I inherited. MWT has worked successfully for over 43 years. But change is often needed. Funding shifts focus, environments change and there are better ways of delivering the purpose of a charity today. We have seen a considerable growth in staff, and five years ago we bought this building we are in, which gives us flexibility and scope to develop – particularly for our volunteer-run shop.”

“Our main challenge – as for all charities – is finding sustainable funding sources. We have developed a lot of positive partnerships over the years with businesses and volunteers. We have great staff, but we are able to achieve so much because of volunteers. About 20,000 hours of work are delivered by volunteers every year. We’ve got midweek muckers helping on nature reserves, local groups doing events, people managing our shop and assisting with data management in the office. They are hugely important to us. We also get some government support for partnership projects, and we deliver services to Manx National Heritage. The conservation and warden service at the Calf of Man is a good example.”

“However, marketing and communication are key challenges for

23

update Iod-iom member interview us too. The ever-present change when doing conservation means that what and how you communicate is key. People do not always realise the value of our work.

Introducing marketing – and how it ties in with fundraising – is an interesting challenge when dealing with conservation.

We need to get the messages right to get people involved and to support us.”

Tim is no stranger to the challenges the organisation is facing. Over the last ten years, he has worked across different wildlife trusts, managing projects delivered in close partnership between government, businesses, local landowners and the general public.

“There is always a need to engage with businesses better. It may seem like an abstract relationship at first sight, for example regarding land and planning. There is always potential for conflicts, but luckily we have not had any. We try to manage the interests of all parties involved. I always think that there are solutions out there. Members may raise concern for involvement with certain corporations, but we believe it is better to be involved in partnerships rather than standing on a soapbox and shouting objections. Of course, it varies how businesses think about their impact on nature. Some do it better than others.

We encourage involvement in the early stages, rather than later on or as an addon. The longer you leave it, the higher the cost of considering nature in your plans. Ecology and conservation has progressed – there is real value to the economy to allow nature to exist. The decisions of businesses impact the green infrastructure and quality of life on the island. So we are always trying to get businesses involved.”

“Our corporate memberships are a great support. The term doesn’t really describe how the parties involved benefit.

It’s less about formal membership and more about a focus on nature and the outdoors. We help staff getting out of offices into a different environment on team days and through conservation projects. The partnerships work both ways. Historically, MWT has not been great at marketing. You often see a need to include more business nous in charities and foundation funding. The involvement of professional people in helping us with marketing and communication is great and delivers positive impact for the society as a whole.”

This is where Tim’s membership at the Institute of Directors (IoD) comes into play too.

“I have always found networking very positive, but been more traditional in the past and focused on conservation.

When I moved to the island it opened the opportunity to go down a different route. The IoD gives me a more diverse

24

network. Commercial content is a big gap in my world, so it allows me to learn a lot.

I can also see benefits for my sector to be represented in a wider setting. Joining up in partnerships could result in interesting work for the community.”

Tim’s enthusiasm continues throughout the interview, but peaks when asked what he loves most about his job.

“It’s amazing to be able to get out and work in the Manx landscape, whether sea or on land. It’s pretty special. It’s a very varied job, and there is always something involving wellies at some point. That’s what we’re about in the end – what’s out there. The amount of people and different views in conservation are exciting too. It can often be forgotten that other views are also valuable, so we get lots of heated debates on controversial subjects with very passionate people. The culture, the way of working and to do something you believe in – it’s fantastic.”

ON THE AGENDA...

Fact File Revelations

“Our corporate memberships are a great support. The term doesn’t really describe how the parties involved benefit.

It’s less about formal membership and more about a focus on nature and the outdoors.”

CONNECTING BUSINESSES

FAMILY? My partner, Kate. No kids yet.

Just a family of various animals – furry and scaly babies.

BEST GADGET? A digital GPS for recording what I see. It marks the location when I record, and I can then share it with others. I used to cycle to work in Lancashire. I would shout into my GPS when I spotted rare wildlife or plants, and people would give me strange looks!

SPARE TIME ACTIVITY? Getting out and about. Mountain biking in particular.

FAVOURITE MEAL? I love eating, so it makes it difficult to think of just one.

Definitely a good curry – not a greasy one!

WORST CHARACTER TRAIT? Messy.

FAVOURITE FILM OF ALL TIME? I do like my films. Depending on my mood it’s either Blade Runner or Casablanca.

GUILTY PLEASURE? Black pudding. It just feels so wrong, but I do love it.

BIGGEST INSPIRATION? I could be geeky and say one of the many within conservation. However, I used to do martial arts, and one of the senseis had a bigger impact on me than other more obvious ones through the way he taught and approached life.

A PERFECT DAY? Getting out early to experience something new, go somewhere new and see something different. That could be linked to wildlife or a heritage site – with my partner and new dog by my side. I would get some good food and a bit of real ale or craft beer. It could be locally or somewhere interesting in the world.

BEST PIECE OF ADVICE YOU’VE EVER HAD? Do the difficult things and face up to it.

WHAT DO YOU MOST DISLIKE? At the moment my biggest wind-up is uncontrolled dogs and the amount of dog poo. We’ve got a rescue dog who gets very nervous, so other dogs that are not kept on a lead become a problem when we take him out.

IF YOU COULD GO BACK IN TIME, WHICH AGE WOULD YOU GO TO? Part of me is intrigued to know what it was like in the ice age and just after. But I am also very interested in medieval times before 1066.

YOUR BIGGEST EXTRAVAGANCE? Some of the trips we’ve had. To the rainforest in Costa Rica, the bush in Australia, or Indonesia. We don’t have lots of holidays or one every year, but we go on big ones instead. I make the most of getting involved with conservation projects and seeing friends in interesting places.

TOP OF YOUR BUCKET ‘TO DO’ LIST? I would love to see a blue whale out in the wild in the ocean – to see the biggest animal in its habitat would be amazing.

It would be a great excuse to go to some interesting places too like Hawaii or the Baja California Peninsula.

25

update iod-iom events

The Institute of Directors Quiz Night for Hospice Isle of Man

L

ocal branch of the IoD held a wine tasting and quiz night at Bar George in Douglas recently and raised the magnificent amount of over £1,000 for Hospice Isle of Man. Lloyds generously agreed to match £4£ and the total raised went to a staggering £2,540.

Nearly 100 guests attended the fun event which included tasting wine, guessing the name of the wine, where it was from and how much it would be sold for.

The night also included a raffle with the winners receiving some fabulous prizes donated by IoD committee members. Special thanks also go to Bar George for hosting the event.

Clive Parrish, Chairman of The Institute of Directors on the Isle of Man said: “We had a fun networking evening with everyone getting in the spirit of the event! While having fun we raised a great donation for a very worthy charity. I would like to thank everyone who attended. In addition I would like to thank all the committee for arranging the raffle prizes and Lloyds Bank for their incredible support.”

Paul McAuley, Senior Manager from Lloyds Bank International said “fantastic night, all in aid of a very worthy cause which is very close to our hearts , with great teamwork demonstrated between the Institute of Directors and Lloyds.”

Anne Mills, Chief Executive of Hospice Isle of Man added her appreciation on behalf of the charity.

26

ON THE AGENDA...

CONNECTING BUSINESSES

27

update Iod-iom awards

The Isle of Man Director of the Year Awards 2017

Sponsored by Appleby

T

he nominations are now open for our 2nd prestigious Director of the Year Awards, culminating in an awards ceremony at our Prestige Lunch in May, supported by Barclays, where one entrant will be crowned overall Director of the Year 2017 on the Island.

The awards celebrate outstanding business leaders on the Isle of Man and are public acknowledgement of the key role that directors play, not only in our economy but also in job preservation and creation. The awards also place emphasis on excellence and achievement by showcasing exceptional individuals in their field.

The Awards are open to all Directors (or equivalent level position), both IoD members and non-members, from within the private, public and voluntary sectors, throughout the Island.

This year the application forms have been significantly reduced for the local awards, which will make them less cumbersome for applicants. The winner will be invited to the awards ceremony on 19th May to receive the award and will then have the opportunity to be put forward into the National Awards. Last year, the Isle of Man winners all went through to the shortlist for the National Awards.

However, the benefits of entering extend far beyond the recognition and prestige associated with winning the Award. You will also be able to take advantage of invaluable positive press coverage which could help to raise your business profile, boost staff morale and attract new high-quality staff. Winning the award will enable you to gain recognition from your peers and celebrate your business achievement. The awards ceremony is held at our Spring Prestige Lunch which sees 100 members and

28

Claire Milne

guests in attendance and will give you the opportunity to network with fellow entrepreneurs and business leaders.

As Findlay Macleod explains, “It’s easy to have the title “Director” but the awards recognise what is required to be a good Director and will make people think about these traits. Applying will make people think about their own strengths and their own development and participating will raise the profile of individuals, their employers, their sector and their own professional standards.”

Clive Parrish explains why the awards are an important addition to the Isle of Man’s calendar. “I am delighted that we are, once again, participating in the IoD’s Director of the Year Awards. Through the branch on the Isle of Man the IoD encourages Directors of all ages and experience to continue to improve and be the best they can be. The awards aim to recognise the hard work and dedication that goes in to being an effective Director.

As an International Business Centre I think it is important that we do what we can as a Branch to promote the Isle of Man as a place to do business and the awards provide a showcase to do that.”

But who should enter? When asked for an idea of what the Judges will be looking for from the applicants, Sally Bolton, Former IoD Chair and judge commented: “as a member of the Panel of Judges I will be looking for energy and vision, and particularly whether the candidate looks at their business in a new way. We have some exciting new ventures on the Isle of Man, particularly in relation to the developing food and drink industry from which I am hoping to see some applications as well as more traditional businesses such as manufacturing or corporate services.”

Speaking on behalf of Appleby, the Award sponsors, Claire Milne, partner at Appleby and DOTY judge told us why they feel it’s an important award to be involved with: “Appleby is delighted to once again sponsor the Director of the Year Awards following the inaugural awards hosted in the Isle of Man last year. The quality of applications last year was very high and we look forward to reviewing the latest entries. The Isle of Man has developed a reputation as a premier jurisdiction in terms of regulation whilst retaining the delicate balance between providing a business friendly environment.

Recognising the contribution that business leaders make to Manx society and the outstanding corporate leadership talent we have on the island is crucial.

Through nurturing this talent we hope to see the Isle of Man continue to build its economic prosperity in both the public, private and third sectors.”

For more information or an application form please contact Claire Veale on 07624 355160 or admin@iod.im.

ON THE AGENDA...

update iod-iom breakfast meeting

The Institute of Directors - Isle of Man Breakfast Meeting

CYBER SECURITY T

he February IoD Breakfast focused on Cyber security and the implications for Directors in the Isle of Man. Guest speaker John Pennick of Berkeley Insurance Group presented to a full audience of over 30 local directors.

Highlighting the increasing number of attacks combined with new levels of sophistication John explored the different scenarios and potential solutions open to directors and their businesses.

The presentation was followed by a full question and answer session where directors learned more about the insurances available to address this type of threat.

Warwick Long, Head of Commercial Banking, HSBC Channel Islands and Isle of Man said ”HSBC is proud to be supporting the Business Breakfasts for the IoD in the Isle of Man. It is both encouraging and inspiring to have such a strong selection of Island business leaders in one place to discuss what is at the top of the agenda for the Island’s economy.

Supporting the local community at events such as these are an integral part of HSBC’s objective to connect people and help facilitate a platform for dialogue.”

The IoD would like to thank HSBC for their sponsorship of this event and remaining breakfast events in 2017.

CONNECTING BUSINESSES

29

update iod-iom chartered director

Chartered Director The Low Down As a long-established professional awarding body, the IoD is the only institute in the world to offer internationally recognised qualifications designed by directors for directors under Royal Charter.

T

o perform effectively as a director requires a combination of core competencies in the key areas of knowledge, skills and mindset. Chartered Director is the only professional qualification for all directors that demands both knowledge and experience of how to make boards effective, and a commitment to continuous professional development.

Gain professional recognition, enhance your career prospects as an executive or non-executive director and become part of an exclusive network of senior leaders recognised for their outstanding leadership and contribution to business.

Dynamic and professional boards of directors have a collective responsibility to ensure that each individual is able to perform their duty effectively and to lead the organisation. If you are thinking about taking the first step to becoming a Chartered Director but are not sure how to get started, we have the answers here.

Our panel of experts includes Alison Kennedy, IoD Programme Director at Salford Professional Development, Ann Clayton CDir MIoD, Chartered Director Ambassador and Findlay Macleod CDir MIoD, Portfolio Interviewer.

Isle of Man 30

As a director, my schedule is already pretty full, will I have time to study?

Alison: As the IoD Company Direction Programme is designed for directors, who are busy people, potential candidates sometimes think it will be impossible to fit the studying into their busy schedules.

However, the Programme offers huge flexibility in study dates and timing. It is supported by e-learning which can be accessed any time or place.

Candidates are often surprised, and relieved, to find that there are no

assignments to complete, any time spent studying outside the classroom is entirely self-directed.

It’s quite expensive, is it really worth the expenditure?

Ann: Some thoughts to consider are: 1. Doing the courses and passing the Certificate and Diploma exams prove that you know the theory. The Chartered Director process validates your actual experience and capability at a practical level.

2. CDir is the only chartered qualification specifically for directors.

3. The FSC lists CDir as an approved qualification for directors.

4. Institutional investors consider CDir to be the ‘gold standard’ and sometimes require boards to have at least one qualified Chartered Director.

5. With the importance of quality NEDs rising, this qualification should at least ‘tip the balance’ in favour of one holding a CDir. Alison: Many candidates have been given Government financial support toward the cost of the Programme demonstrating, in a very practical way, the esteem in which the Programme is held. (Support is on a case by case basis, but I am not aware of any applicant being refused).

ON THE AGENDA...

I would like to become a Chartered Director. What are the stages?

Findlay: The first step is to pass the Certificate and then the Diploma in Company Direction.

The next step for someone who has passed the Diploma in Company Direction to become a Chartered Director is to put together a professional portfolio, in the IoD template, which demonstrates the individual’s experience in the five key areas of being a Director.

This portfolio is assessed by a professional development panel within the IoD and, if the portfolio indicates sufficient experience, a Portfolio Interview is arranged. You will be invited to attend the interview where you will be questioned by two interviewers. They will then discuss your answers and reach recommendation of whether you have been successful or otherwise.

Can I complete all the stages on the Island or do I need to go to the UK? Alison: We run all of the modules for the programme each year on the Island. The programme is supported by e-learning so it is completely flexible.

For those who wish to take the exams, these are held on the Island in March, June and, subject to demand, November.

If you wish to go further and become Chartered once you have completed the Diploma, the portfolio interviews are held in the UK. Are there any plans to hold the portfolio interviews in the Isle of Man? Ann: Interviews are normally conducted in Pall Mall but, if there is sufficient demand, can be conducted in the regions. If there were 3 people or more ready for interview around the same time it may be possible to persuade the IoD to conduct the interviews here.

For this reason it is important that you keep me informed when you embark on Chartered Director so that I can have these discussions with them.

I don’t really feel I need to become Chartered but the course looks interesting, do I have to take the exams?

Alison: Not everybody who aspires to excellence in their role of director necessarily seeks external validation.

Some delegates on the Company Direction Programme feel that the experience of attending the courses, and reviewing the study material at their leisure, is sufficient for them. This is a respected position and the course tutors will never pressurise a delegate to take the exams if they don’t feel it is for them.

CONNECTING BUSINESSES

The Certificate modules provide top quality training for directors in Corporate Governance, Strategic Thinking, Finance, and Leadership. The Diploma tests performance as a director within the course itself via a case study and role play. Contrary to popular belief, it is not necessary to have passed the Certificate exam to take this course, just to have attended the Certificate modules. So it is possible to study the full five courses which comprise the Certificate and Diploma without taking a single exam.

Do you have any tips for the interview?

Findlay: The key thing to remember for a candidate is that this is the only time in your career when you need to use the word “I” not “we”. Let me explain.

The interviewers are looking for your own experience and contribution to the various aspects of directing a business.

For example, what did you do as part of the development of the strategy? What was your contribution to managing stakeholders? Most of us have the instinct to share the glory with the team and use the word “we” when we talk about things that we have done in our career. This is an occasion when the candidate needs to nail his colours to the mast and say “I” did this and “I” did that.

If I need some guidance when producing my portfolio where do I go?

Ann: Once a year the branch holds a lunch for Diploma holders to help guide them through the Chartered Director process. But, at any time, you can contact me on annclayton@manx.net.

I have decided to take the first step to becoming a Chartered Director, where do I sign up?

Alison: If candidates would like to sign up to the Class of 2017 or would like more information on the programme, please contact me or Carrie Cushman, our Programme Co-ordinator. Or visit the website here www.salford.ac.uk/spd/ sectors/institute-of-directors-iod/aboutthe-programme Alison Kennedy IoD Programme Director Mobile: 07748 147864 Tel: 0161 295 5655 E-mail: J.A.Kennedy@salford. ac.uk Carrie Cushman IoD Programme Coordinator Tel: 0161 295 7006 E-mail: C.Cushman@salford.ac.uk

were informative, active and relevant to any business and industry. It also provided me with great opportunities to develop skills and learning, networking and making new contacts and friends. The course definitely delivers in its goal to develop Directors and add value to their business.”

Dawn Webb, Managing Director of Dawn Webb Advisory Limited “As the Programme is quite interactive, you are encouraged to share experiences and learn from others within the group, which is a great way of learning. I learnt much more than I was expecting to, and have also become firm friends with all those who attended the Programme.”

Bernice Rudden, Managing Director of EIP Ltd “It really did make my Christmas getting a Pass, after a very stressful year on the work front, thanks again for the chasing in making it happen! By far it’s the best course I’ve ever attended.”

BENEFITS TO YOU AND YOUR ORGANISATION

Chartered Directors have a dramatic and positive effect on the success of their organisations and are able to: n Champion standards of good, ethical governance and best practice for boards n Improve the board’s effectiveness and personal contribution n Build trust and demonstrate to shareholders, stakeholders, clients and customers that their organisation is professional and successful n Adopt a common set of business principles and vocabulary n Demonstrate strategic leadership and take a long-term view of opportunities, risks and challenges n Act independently with judgement and integrity

STILL WONDERING IF THE COMPANY DIRECTION PROGRAMME IS FOR YOU? HERE ARE SOME COMMENTS FROM PREVIOUS CANDIDATES...

Paul Watterson, Director of Finance and Company Secretary Continent 8 Technologies “The IoD provided me with an excellent structured programme of business theory learning relevant to a real business environment. The course and workshops

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update iod-iom events events

Business Events

IoD Isle of Man CPD with KPMG Advisory – comply or buy?

Sponsored by KPMG

Date & time: 07 Mar 2017 12:15 - 13:15 Location: iMuseum, Douglas CPD Hours: 1.0 Member price: FREE Non-member price: £15.00 Allan Christian, Risk Consulting Senior Manager, will first cover the implications of recent trends and developments in the corporate governance space for firms continuing in their current form, touching on legal and regulatory developments on the Island, as well as international developments, and the pressure to conform which these ultimately introduce.

Kristan King, Deal Advisory Director, will complement this by covering the range of options open to firms of any size who might choose to explore changes of scale and footprint through mergers or acquisitions, an increasingly active space in the offshore arena given the breadth of economic and political uncertainty on the horizon.

Allan Christian

Price includes a light lunch.

Speakers Allan Christian joined KPMG in the Isle of Man in 2016, having worked independently within the UK Insurance industry for 5 years. Prior to that, he worked on the Island for a local insurance entity and a CSP vehicle. Allan has over a decade of experience delivering regulatory compliance, risk management and corporate governance advisory services in the financial services arena.

Kristan King has worked in our Deal Advisory team for the last 11 years, transferring back to the Isle of Man firm in September 2014. Since joining the Deal Advisory team in August 2004, Kristan has worked on a significant number of acquisition and vendor due diligence transactions involving private equity and corporate clients.Kristan King has worked in our Deal Advisory team for the last 11 years, transferring back to the Isle of Man firm in September 2014. Since joining the Deal Advisory team in August 2004, Kristan has worked on a significant number of acquisition and vendor due diligence transactions involving private equity and corporate clients.

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Kristan King

ON THE AGENDA...

Ladies Lunch @ 14 North

Date & time: 15 Mar 2017 12:30 - 13:30 Location: 14 North, Douglas Member and recurrent non-member price:£15.00 inc VAT Guest price: £10.00 inc VAT Please note: Cost includes lunch plus one soft drink and tea/coffee Please email: Claire at admin@iod.im to confirm your place

IoD Isle of Man Dining Club with Hon. Alfred Cannan, MHK “The Next Five Years” Sponsored by HSBC

Date & time: 23 Mar 2017 19:00 – 22:30 Location: Cowell Suite, Sefton Hotel, Douglas Member price:£40.00 + VAT Places are limited (max 20) and available to IoD members and their guests.

The Dining Club will be held on Thursday 23rd March and starts from 7pm with drinks reception sponsored by HSBC on arrival and seating for dinner will be at 7.30pm.

The cost for this event is £40 per head for a 2 course meal plus cheese and wine.

Please email Claire at events@iod.im to confirm your place and menu choice.

IoD North West Director of the Year Awards 2017

Date & time: 30 March 2017 19:00 - 23:00 Location: The Midland Hotel, Manchester Member price: £150.00 Non-member price: £180.00 Now fully established as one of the UK’s leading business awards, the IoD North West Director of the Year Awards Gala Dinner and Awards ceremony is a black tie event, guaranteed to provide the ideal opportunity to entertain clients and guests amongst a gathering of your business peers.

The awards are a public recognition of the key role that directors play, not only in the UK’s economy but also in job preservation and creation. They place emphasis on individual excellence and achievement.

For the second year in a row we are joined by Mark Durden-Smith who will help you through the evening CONNECTING BUSINESSES

Alfred Cannan MHK

with a top after dinner speech leading smoothly into a presentation of the finalists, announcement of the winners and presentation of the IoD North West Director of the Year Awards.

Tickets for the IoD North West Director of the Year Awards can be purchased directly from the IoD website.

6th April, Dick Welsh – IoD Business Breakfast

A discussion on the Shipping Register in general over breakfast. Please email Claire at events@iod.im.

IoD Isle of Man Annual Members’ Meeting

Date & time: 17 May 2017 17:45 – 19:00 Location: TBC, Douglas Documentation will be circulated to members as per the Annual Members’ Meeting Notices Requirements.

IoD- iom Spring Lunch and DOTYA Awards Sponsored by Barclays and Appleby Date & time: 19 May 2017 11:45 – 14:00 Location: Garden Room, Sefton Hotel, Douglas Early bird price: By 1st April - £30, £35 thereafter

Price includes drinks reception and 2 course lunch.

The lunch is being supported by Barclays Wealth International and we will be organising a raffle to raise funds for a local charity. The event will start with prelunch drinks in The Sefton Hotel Atrium at 11.45am followed by a two course meal and coffee which will be served promptly at 12.15pm. We intend completing formalities by no later than 2pm.

The Lunch will also host our 2017 Director of the Year Awards Ceremony, sponsored by Appleby, which will see our Judges announce the shortlist and present the award to the winner, the Island’s most exceptional and inspirational business leader.

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update feature

The Knack of Saying 34

No It’s sweeping through the corporate world. To-do lists are out of control.

Multitasking skills are breaking records. Stress levels are through the roof. What? Why? It’s the fear of saying “NO”!

ON THE AGENDA...

Y

Words by: Michelle P. Tonnesen

ou will sound rude, lazy or arrogant. No one will take you seriously. You won’t be a team player. You have to be positive in the workplace because no one likes a Sour Sally or a Temper Tom. Sometimes saying “yes” at work is the way to go. Yes to that new project, more responsibility and the promotion you’ve been craving. But other times, you need to decline. No, you are too busy, you are not interested or you don’t want to work a 60+ hour week.

In the workplace, setting boundaries helps establish a productive work environment. You and the people you work with have different values, needs and beliefs about what is right. These differences can lead to conflict, anger, anxiety and stress. Does your colleague or boss like last-minute deadlines and working under pressure, but you like to plan ahead and have everything finished early? You can do things their way – and end up stressed – or you can recognise what you need to be effective and find a way to meet your needs. This is called managing your boundaries. It is an assertive and responsible way to make sure others respect your needs, while you respect theirs.

Women in particular have a reputation of being natural pleasers which generally makes us less inclined to confront and negotiate. However, according to a recent study, * women who are assertive in the workplace are generally remunerated better than their “nicer” counterparts. The results were in fact mostly the same for men and women: Assertive employees, regardless of gender, were compensated CONNECTING BUSINESSES

35

update feature more and the opposite was the case for the agreeable employees. Women were still paid less than their male colleagues, regardless of how agreeable or assertive they were at work – but that’s a story for a different article.

A lack of assertiveness can make you feel weak or powerless. In order to negotiate successfully – whether it’s your boundaries or your tasks – you need to be assertive. However, in order to achieve the ideal scenario of a win-win solution, you must collaborate. When you collaborate, you consider everyone’s needs. Whatever the situation, if you view negotiation as a collaboration, you say “yes” to the other person by respecting his or her needs and how to meet them – all the while giving yourself the opportunity to say “no” to the task itself too.

When to Say “No” to the Task Not all requests should be negotiated.

Sometimes you need to say “no”. Here are some key questions to ask before making your decision: * Do I have time to do it? * How urgent or important is it? * Am I the right person for the task or is someone else better suited? * Does this request fit with my goals and objectives?

If your answer to any of these questions is “no,” then you may be best off declining politely.

How to Say “Yes” to the Person Make sure that you explain your justification, so that it’s clear that you are only saying “no” to this particular task.

If the other person understands your reasoning, they are less likely to be left with the impression that you are simply being unhelpful. This means negotiating arrangements to accommodate the request in a different way.

To say “yes” to the person, first answer three main questions: 1. What does this person really need?

2. How else can this person’s need be met?

3. How can I support this person to have the need met?

High levels of trust and good communication are essential to this process. When people trust each other, they are more likely to communicate their needs accurately, which in turn leads people to cooperate to look for a joint solution. And when you work in an environment of respect and trust, it is

36

much easier to reach agreement without compromising your needs in the process.

Exactly how you approach setting limits at work is key to your success. Here are five things to avoid: Jumping the gun. You say “no” too quickly without making sure that you really understand what is being asked of you. This is an easy way to make people feel frustrated and unheard.

And it may not resolve your problem.

This person will likely try again since you did not appear to consider their request properly. Assess the task in its full context and figure out whether it is feasible for you to help.

Lengthy explanations. You talk endlessly about why you are saying “no,” making it look like you feel guilty or unsure of yourself. Ultimately, all that talk will sound like a big excuse.

Keep your explanation brief and concise. Be honest and upfront about your reasons to limit frustration for both parties.

Changing your mind. You say “no” and then later you go back on it and say “yes.” Big mistake. That sets the precedent that people don’t need to respect your decision because if they just add more pressure, you will eventually cave in. Be kind, but firm and consistent.

Being overly emotional.

Demonstrating just how overwhelmed you are by showing your fragile state is not the way to go either. Being emotional will only make it look like you are not thinking clearly. This is yet another easy way for people to avoid taking you seriously. Watch your tone and body language. You want to say “no” in a way that makes people respect you. Think of lawyers, judges and police officers who have to say no for a living. They do it with dignity and with the full awareness that they can’t please everyone.

Not offering solutions. You just say “no” and walk away. This is a guaranteed way to make others angry.

Be empathetic and acknowledge the other side. Just because you say “no” to accepting a new task doesn’t make it go away. It still has to get done. If you don’t offer an alternative solution, you are just creating a new problem for your colleagues. Offering solutions is a way of showing that you understand the request is important and care about the outcome.

Saying “no” is a skill you can learn through practice and eventually it will become easier. Yes, it will!

References: “All employees are equal, but some are more equal than others: dominance, agreeableness, and status inconsistency among men and women”. Michael Biron, Renee De Reuver & Sharon Toker. European Journal of Work and Organizational Psychology, Volume 25, 2016, Issue 3. “’Yes’ to the Person, ‘No’ to the Task”. MindTools, 2016.

“How to Say No to Taking on More Work”. Rebecca Knight.

Harvard Business Review, 29/12/15.

ON THE AGENDA...

In a Blink Résumé repertoire

update in a blink

A survey of 2,000 UK workers found 55% believe that workplaces have become stricter.

They ranked the worst office taboos as follows: 79.7% Lack of personal hygiene 74.2% Drinking alcohol at lunch 72.5% Looking at inappropriate content online

Survey highlights weak CV-writing skills and a degree of dishonesty

72.3%

The average recruiter spends only six seconds on a CV before deciding whether to follow up with its writer. Most of the CVs they and prospective employers see are well below par, which should give serious job hunters an incentive to learn how to write one.

35.5% Can write an effective CV 48.1% Are unable to write a CV to which recruiters respond 16.4% Lack even the most basic CV-writing skills 93.7% ‘Schools need to teach more job-hunting skills’ 1 in 8 lie on their CV

Being late

68.9% Talking behind co-workers’ backs (Source CV Library)

(Source: CV library survey of more than 3,000 UK workers)

The top reasons employees leave

Employers wanting to retain their best people would be wise to consider the way their employees’ jobs fit into the rest of their lives.

30% Better work-life balance 29% Career advancement 27% Higher remuneration

11%

Better location

6% Better corporate culture (Source: The Recruiter) CONNECTING BUSINESSES

How Britons and other Europeans work

Take a look at the status of the UK’s workforce compared with that of other EU countries.

Years in education UK average 16.6 EU Average 17.8 Annual salary UK Average €35,925 EU Average €26,051 Employment rate UK Average 76.2%

EU Average 69.3% Hours worked per week UK Average 36.7 EU Average 37.9 Productivity (GDP per hour worked) UK Average €37.00 EU Average €33.02

(Source: Qlik Visualisation)

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update books

The Three Box Solution: A Strategy for Leading Innovation By: Vijay Govindarajan, Harvard Business Review Press, RRP£22

I

nspired by the Hindu gods Vishnu, Shiva and Brahma, Govindarajan, a professor at Dartmouth’s Tuck Business School, lays out a simple and practical path for innovation.

He says companies should assign core operations to box one, put stuff they need to forget, sell or close in box two and develop the future in box three. This should allow organisations to explore new frontiers, without losing sight of the need to exploit existing assets - an approach that, among others, Alphabet, Google’s parent, is now testing at scale.

The Real Madrid Way: How Values Created the Most Successful Sports Team on the Planet By: Steven Mandis, BenBella Books, RRP£16.95

A

dapting a common business book trope - The Toyota Way, The Amazon Way, The Virgin Way, and so on - Mandis, an academic, entrepreneur and former Goldman Sachs banker, dives into the Spanish football club to discover the secrets of its success. He emerges as a fan, though not an uncritical one, and attributes Real Madrid’s commercial and sporting triumphs to its model: a member-owned organisation based on the values of its supporters and wider community. A fine antidote to the sporting and business fixation on data analytics as the only key to success.

Six thought-provoking books for business education students

By Andrew Hill (FT)

What Works: Gender Equality

by Design By: Iris Bohnet, Belknap Press, RRP£21.95

T

his is a persuasive manual for anyone seeking to eliminate unconscious biases, in recruitment and management, that perpetuate imbalances between men and women. In the book, a finalist for the FT/McKinsey Business Book of the Year award, Bohnet offers invaluable, research-based guidance about how to design and run organisations that are not only fairer but better. It is not as simple as it looks. As Bohnet points out, teams that look and think the same may be better suited for tasks that involve implementing existing solutions, whereas more diverse teams may be better at collective problem-solving.

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Pariahs: Hubris, Reputation and Organisational Crises By: Matt Nixon, Libri Publishing, RRP£20

S

candal seems woven into corporate life, no matter how many rules are applied, and often nemesis follows the hubris of business leaders. Nixon applies a quarter-century of experience working in and with big companies to recent headline stories of malpractice and explains why and how “pariah” organisations develop. He draws stimulating parallels between classical thinking, the historic use and abuse of power, and contemporary news. More importantly, he also suggests how leaders - and employees - can work to prevent the rot from setting in.

ON THE AGENDA...

Competing Against Luck: The Story of Innovation and Customer Choice By: Clayton Christensen, Taddy Hall, Karen Dillon and David Duncan, HarperCollins, RRP£20/$29.99

H

arvard Business School’s Prof Christensen is best known as author of The Innovator’s Dilemma but for almost as long as he has taught disruptive innovation, he has promoted a “jobs to be done” approach. The authors explain how the theory can help companies work out why customers “hire” certain products and services. The book gives managers tools with which to adapt to disruption and avoid being swamped by process - and a further insight into Prof Christensen’s thinking on innovation.

The 100-Year Life: Living and Working in an Age of Longevity By: Lynda Gratton and Andrew Scott, Bloomsbury, RRP£18.99

O

ne of the first in what will doubtless be a wave of books about how to cope with longer lives and careers. Gratton and Scott, London Business School professors, use imagined case studies of individuals at different ages to map out how work, personal finances, corporate organisation and relationships may change.

The book, another finalist for the FT/McKinsey award, is an important offset to the current obsession with how to manage millennials. A more important question, they imply, is how will millennials, many more of whom will live to 100, manage themselves?

CONNECTING BUSINESSES

APPS TO SAVE YOU TIME DOODLE

iOS, Android, free doodle.com

Trying to wrangle several people into picking a date for a meeting or an event is painful, usually involving multiple emails, reply-all threads and calendar invites sent, declined and accepted.

Doodle is a good alternative.

The organiser creates a poll offering as many (or as few) options as they wish; the would-be participants are emailed and they pick their preferred dates. As participants respond, it quickly becomes clear which dates are the best for the event. There are two premium

tiers, for individuals and businesses, offering an adfree experience, encryption and, in the business version, custom domains for the web version. For most casual users, however, the free version is all you need. Be warned, though, the ads in the app are annoying.

HOPPER iOS, Android, free hopper.com

There are many flightbooking apps and services, all doing much the same. Hopper is slightly more useful in that it offers you a view not only of how much your flights will cost, but also how those prices are likely to move. Pick your destination, then the app offers you a colour-coded calendar indicating when the flights will be cheaper or more expensive. Choose dates and the app will give an opinion (“Book now. This is not a great price but you will likely pay more if you wait”), a prediction on how the price is likely

to change over the next few weeks and options to watch the trip or to go ahead and book. It is a little lacking in filters — there is no option to search only business class, for example — but it is a good way to evaluate the potential cost of a trip.

WORDPRESS iOS, Android, free wordpress.com

This is invaluable if you manage a website or blog on the WordPress platform and need to post or carry out admin tasks while on the move. The excellent app makes posting, managing users, moderating comments and viewing stats as painless as it can possibly be on a mobile device. That said, it is not perfect. Although the app offers you a tab in the sidebar for WP Admin, if you tap that

you will be bounced to your browser, where you will have to sign in again and then do your admin tasks on the mobile website, which is a less than wonderful experience.

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update feature

How to ask for what you want -

and get it every time Words By: Lucy Kellaway (FT)

I

know a woman who can get people to do whatever she wants. She can make busy executives give her their evenings, their thoughts and their money. On various occasions she has persuaded me to do things for her, just as she has enlisted thousands of others.

I ran into her the other day and asked what her secret was. “It is not hard,” she said. “I just say please and thank you.”

Actually it is not quite as simple as that. Most people know how to say please and thank you - or think they do. Almost everyone was taught before they went to primary school. But hardly anyone has been taught how to do it properly.

Consider the following perfectly polite email I received recently from a man I know slightly. It began: “This year we are partnering with XXX to launch the second annual YYY conference. I know you are busy but we would love you to host a session on women in business on the Saturday.”

It then went on at length about the theme of the year and offered a link to a video of the previous year’s event. “Do let me know if that is

40

ON THE AGENDA...

“Extraoooordinary”, said the subject line of the thank-you email that was waiting in my inbox when I awoke the next day.”

CONNECTING BUSINESSES

feasible,” it ended.

It was not feasible. Why would I give up a Saturday on the basis of watching a clip of a similar conference a year earlier?

The length of the email made me feel restive and inclined to hit the delete button. To be reminded that I am busy merely provided an excuse to decline.

Now consider this message from my other acquaintance. Its subject line read: “If only you would . . . “ and the email continued “ . . . join our panel on xxx. We have a lot of clever but worthy people talking, and we need your genius to liven it up. Please say yes.”

What this does is cut to the chase - and the chase is flattery. The only truly effective way of saying please is to butter people up.

There is no danger of ever laying it on too thick. There is no level at which flattery stops working, according to a study by Jennifer Chatman of the University of California, Berkeley.

In addition to being flattering, the perfect please has to make you feel not only wanted, but also needed. I read the email and said yes at once.

I knew how manipulative it was, but I could not help myself.

Getting thank you right is just as easy, though just as uncommon. Consider the following failed attempt that landed in my inbox recently: “Thank you for talking at our function last week and for giving up your time. The feedback was excellent and we hope you enjoyed it.”

This was polite and professional. Yet it quite failed to do its job. For a start it was miles too slow - an emailed thank you should arrive within hours, not the following week.

Equally, to be thanked for your time is singularly ungratifying. Time takes no skill to give. To say the feedback was excellent was too vague to be convincing. And rather than ask if I had enjoyed it, it would have been better to attest how much they had enjoyed having me.

In rejecting this message, I felt the spirit of my mother. She was a fiend with the thank-you letter.

Every year on December 27 she sat us children down and made us write letters to everyone who had given us anything for Christmas. We had to specify what the present was, claim to be delighted with it, and (this was hardest) we had to say why.

When we were done with thanking, we had to keep writing until half way down the second page before signing off. Three of my mother’s four principles apply to the thank-you email. You thank specifically for the thing. You say why you liked it - and you must thank promptly. The only difference for me now is that I no longer have to rattle on for a page and a half. Indeed, the shorter the better.

And this is exactly what my persuasive acquaintance did. “Extraoooordinary”, said the subject line of the thank-you email that was waiting in my inbox when I awoke the next day.

“Thank you for bringing the evening to life and for scorching wit and sense. You are our own Tina Fey.” Actually, I had performed indifferently. I knew that - and so did she. We both understood the game she was playing. But no matter. The next time she asks me to do something, I will comply.

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opinion knox house trust

Knox House Trust

The Team that Makes a Difference Words by: Michelle P. Tonnesen Photos: Matt Mosur

S

ay the words “Trust”, “Fiduciary” and “Corporate Service Provider” and people’s eyes may start to glaze over. Then they probably haven’t met the senior team at Knox House Trust Limited (KHT).

Stepping into their prestigious Finch Road premises, you are welcomed by friendly and competent people – from the front desk to the Managing Director. Anthony Page has been on the Board of Knox House Trust since the company was established six years ago and has seen the company grow into a successful corporate service provider. He is now charged with taking the business forward to the next chapter as the company’s newly appointed MD, and with 20 years of experience in the trust and corporate sector both on Island and in the Channel Islands, KHT is definitely in very capable hands.

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ON THE AGENDA...

CONNECTING BUSINESSES

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opinion knox house trust “It’s exciting times for KHT. We have been delighted to welcome new and returning faces into the senior team, which has further enhanced our competitive advantage as we embark on our ambitious growth plans into new markets. We operate in 3 core business segments, namely, traditional Private Clients, Marine & Aviation and Family Office. In each we provide a wide and varied array of services – all of which we plan to grow and develop over the next 12 months.”

The senior team was recently reinforced by the promotion of James Porter, who now as Business Development Director is responsible for the on-going development and operations of KHT’s booming Marine & Aviation division.

He is also responsible for continuing the growth for the full spectrum of services the company offers. James brings a wealth of experience from over 20 years in the CSP industry, across every sector, and has worked in a variety of roles before being appointed to his current position as a Board Director. Asked how he will approach the task ahead he said, “I am continually seeking out new opportunities for the business, including the creation of new services to ensure we remain competitive within the marketplace and keep up with the exacting standards of today’s clients. This year our primary goal will be to focus on expansion plans into new jurisdictions to enable a wider service offering and establish a truly global footprint for the company. In some instances we will draw in the expertise from the wider Knox group of companies.”

Of course, it will not be all smooth sailing, but as the captain of the ship Anthony is confident in the company’s abilities to steer clear of obstacles on the way to global expansion.

“Our sector is extremely competitive.

There are a number of similar providers, but we are genuinely different. We are a boutique company, with experience and knowledge at the sharp end of the business so that we can offer an excellent clientfocused service at a very competitive cost.

We have proved ourselves to be proactive and nimble by creating bespoke, practical solutions for our clients. We don’t just talk the talk we actively listen to our clients and have excellent relationships with them and their advisors. Our clients are always at the heart of everything we do. Every single client is looked after by at least one member of the senior management team. We are constantly reviewing our clients’ arrangements, due to the everchanging environment, and work hard to keep that one important step ahead, providing our clients with what they need at any given point in time, sometimes even before they know they need it. We also

44

ON THE AGENDA...

Brexit is “obviously an uncertainty. The decision has been made, but no one really knows the impact yet

”

I am fortunate in “that I am part of a dedicated team that works very closely with our clients

”

CONNECTING BUSINESSES

have the advantage of being part of the wider Knox group of companies, which provides excellent additional resource and complementary services, and because we work closely with the other companies it gives a seamless, bespoke and sometimes an innovative solution to the client.”

KHT have received a number of awards and accolades highlighting the company’s expertise in service excellence and innovative delivery. The most recent are the Corporate LiveWire Innovation & Excellence Awards 2017 in which KHT was the winner of Marine & Aviation Advisory Firm of the Year, fighting off stiff local competition. They have also won Best Aircraft & Yacht Corporate Services Provider 2017 in the World Commerce Review Awards 2017.

When asked what he sees as the current top challenges for KHT, Anthony answers: “Brexit is obviously an uncertainty.

The decision has been made, but no one really knows the impact yet. The everincreasing compliance environment is a key challenge too. It is absolutely as it should be. The Isle of Man as a jurisdiction has an excellent reputation, and KHT is fully licensed and regulated by the Isle of Man Financial Services Authority.”

Cue Patrick McCarrick who recently joined the company as Head of Risk and Compliance. Patrick has 24 years of experience working within a wide variety of financial services organisations. Having dealt with clients’ auditors and regulators, he has an in-depth understanding of the service delivery from the clients’ perspectives, as well as the regulatory and risk obligations placed upon KHT. “I am fortunate in that I am part of a dedicated team that works very closely with our clients. This in turn allows me to gain a good working knowledge of all our clients and helps to reduce the impact of issues that may arise. I feel that this approach is critical to the ongoing growth and success of our business – particularly as KHT prides itself on the level of personal service we provide to clients. I strive to dispel the traditional perception that the risk and compliance function is a business prevention unit. I try to listen more than I speak.”

It’s a diverse team of knowledgeable, multifaceted individuals. Not only do they have ample experience within their field, they all pitch in to get the job done – and lead interesting lives in their spare time too.

Anthony is a dedicated family man, as well as an avid mountain and road biker who last year cycled from Land’s End to John O’Groats. “Work is very important to all of us, but we are conscious that every

one of us has a life outside of work.”

Patrick is an active mountain biker too, currently training for the End to End Challenge, and has just returned from a family ski trip to France.

James keeps himself busy out of the office being a devoted father to his 10 month old son, renovating a house with his wife, and swinging his golf clubs at his local club, King Edward Bay. Alana Faragher, newly joined Financial Controller with a focus on Family Office, plays rugby for Vagabond Ladies and is the first female rugby referee on the island. With her outgoing nature and good sense of humour, she breaks all the stereotypes traditionally surrounding qualified accountants. Alana heads up the Accounts Team. She is somebody that fully understands the saying that “time and tide wait for no man” as she has recently worked for a very busy contractor services company, where accurate information has to be provided on demand. “Although the volume isn’t at the same level as I was previously used to, at KHT the financial information required by clients is more detailed particularly in the Family Office function, and I will be looking to improve on how that information is delivered.

Today’s clients don’t want to wait for somebody to call them back - they are busy people who rely on the information for key decisions. A delay can be very costly to them.”

Voirrey Collister, Head of Private Clients & Operations, expertly juggles managing a large active portfolio of clients, overseeing the Private Client team and the operations of the overall business, as well as being a mother to a 10-year-old daughter and Chairperson of the on-island group of UNICEF. “Thankfully, KHT offers a wonderful working environment.

Teamwork is at the very core of KHT.” Friendly and approachable, Voirrey not only brings extensive experience with managing high value assets to the table, but also a “nothing is too much trouble” attitude which goes a long way when communicating with clients, intermediaries and staff members.

Anthony Page is clearly and rightly proud of his team. “I enjoy the variety of my job – no two days are the same. One moment I may be dealing with a tenant farmer, the next an investment manager or a fine wine storage facility. But what I enjoy the most are the people I work with.

They are all great people – interesting, very bright and capable. The KHT team and their ability to exceed the needs of our clients is fundamental to everything we want to do.”

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opinion Simon nicholas KPMG

What’s on your agenda?

Simon Nicholas, Director at KPMG, suggests that rapidly-changing times mean businesses need to review what’s discussed around the table in their boardrooms

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ON THE AGENDA...

A Words by: Simon Nicholas

s a document, the board agenda can often be a standard list of items that recur at every meeting, rarely updated from one gathering to another.

Whilst certain items need to be addressed regularly, a good board will be thinking ahead with its eyes firmly on the future strategy and direction of the business.

To achieve this, especially in times of fast-moving political, economic and technological change such as we have today, the input into these meetings needs to be much more dynamic. The agenda document itself should act as a barometer to new challenges, triggering debate on all relevant influences and developments.

So what should be on that agenda for 2017? KPMG’s recent work with directors and business leaders has provided us with interesting insight into seven key emerging themes for businesses in the new Brexit/Trump landscape.

Connecting and calibrating strategy and risk is more important – and more challenging – than ever The seismic political events in the UK and the US in 2016 took many of us by surprise and left a lot of businesses scrambling to understand their potential impacts, especially in the Isle of Man. Technological advances, the evolution of new market demographics, increasing customer and employee expectations are all putting a premium on corporate agility.

Does management have an effective process to monitor changes in the external environment and test the continuing validity of strategy and risk assumptions?

Does this process provide early warning that adjustments may be necessary?

Strategy needs to be an ongoing board discussion, not an annual decision.

Developing and executing strategy based on total impact The growing expectations of investors, customers, employees and other stakeholders mean that the corporation’s role in society is coming under increasing scrutiny. Boards need to consider the full impact of implementing strategy including financial, reputational and regulatory impacts as well as the effect on resources and talent.

Aligning the talent in the boardroom with the company’s strategy and future needs Once the strategy is defined, the board should embrace any change that is needed and ask itself whether it has the skillsets needed to guide the business to future success and delivery the strategy.

most damage to companies – financial, reputational and legal – have been caused by a breakdown in the organisation’s tone at top, or its culture and incentives. Boards need to be sensitive to the example set through leadership and reinforce what they want to see in the organisation’s culture.

Reassessing the company’s crisis prevention and readiness efforts Changing external environments demand that crisis prevention, mitigation and response plans are regularly reviewed.

Boards need to ensure there is clear identification and understanding of risks across the business, including supply chain and outsourcing, and that controls and procedures are in place to deal with the worst should it happen. Mock crisis exercises are invaluable in helping companies work through gaps in planning and boards should expect to be included and apprised of their evaluation.

Reassessing the company’s shareholder engagement programme Institutional investors are increasingly holding boards accountable for company performance and seeking greater transparency, including direct engagement with independent directors.

Boards need to know how management engages with shareholders, how their priorities are understood and what information and access they seek and are given.

Refining and widening boardroom discussions about cyber risk and security It is essential for board oversight of cyber risk to evolve in the face of the increasing number and sophistication of attacks. Boards should help elevate the company’s cyber-risk mindset to an enterprise level, encompassing key business leaders and ensuring that cyberrisk is managed as a business risk, not just an IT risk. The board should also ensure there are robust cyber security policies in place, weak points have been identified and protected, and that sufficient training is given.

If you also sit on an audit committee or interact with one, KPMG have launched their 2017 Audit Committee reminders, see www.kpmg.co.im

Focus on the tone from the top, culture and ethics Many of the crises that have posed the CONNECTING BUSINESSES

47

opinion glenn cassidy equiom

Further changes ahead to the taxation of UK residential property

E

quiom Solutions recently held a local seminar, which addressed the upcoming tax changes for non-UK residents and non-UK domiciled individuals. One of the most pressing topics for Islanders was the proposed UK Inheritance Tax (IHT) changes affecting UK residential property.

Senior Tax Consultant, Glenn Cassidy explains the implications for UK property owners.

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ON THE AGENDA...

While the UK tax landscape continues to evolve to meet the ongoing challenges presented by ever-increasing globalisation, the changes which have been introduced over the last four years to the taxation of UK residential property, particularly for international and/or non-UK domiciled owners, could not be more stark.

These changes began back in 2012, with the maximum rate of Stamp Duty Land Tax (SDLT) on UK residential

CONNECTING BUSINESSES

property purchases being increased from 4% to 15% for corporate owners (i.e. a 375% increase). This increase in SDLT has since been extended to individuals who already own a residential property and can now also find themselves paying up to 15% SDLT (incrementally) on the purchase of a UK residential property.

In 2013, the UK Government’s Annual Tax on Enveloped Dwellings (ATED) came into effect, and with it came annual tax charges for corporate structures holding ‘expensive’ UK residential properties and an ATED-related Capital Gains Tax (CGT) charge on any gains realised by such corporates on the disposal of the ‘expensive’ UK residential properties held.

This development was seen as a landmark shift in UK taxation with the introduction of a UK CGT charge for non-UK residents when, prior to this, UK CGT only applied to UK residents (with the minor exception of UK assets being used in a trade).

In 2015, the UK Government then extended the UK CGT charge applied to gains realised on the disposal of UK residential properties to all non-UK residents, including individuals, trustees and corporates. With this extension came the requirement for all non-UK residents to report such disposals to HM Revenue & Customs (HMRC) within 30 days of completion or late filing penalties would be applied.

Following all of the above and the UK Summer Budget 2015, a consultation process took place culminating in the long-awaited draft legislation being issued by the UK Government on 5 December 2016. Part of this draft legislation focuses on the additional proposed changes to the taxation of UK residential property.

Offshore companies or other similar vehicles, which currently provide UK Inheritance Tax (IHT) protection for nonUK domiciled individuals and trusts with non-UK domiciled settlors, will be ‘lookthrough’ for IHT purposes from 6 April 2017 onwards.

Some professionals had hoped that the reforms which had been proposed in the Summer Budget 2015 may be delayed as a consequence of the EU Referendum result. The draft legislation which has been released, however, makes it clear that will not be the case.

It has now been confirmed (subject to any last minute changes to the proposed legislation) that the UK Government does not intend to provide any form of relief for

those individuals or trustees who would like to ‘de-envelope’ from the current structure in which their UK residential property is held. This will come as a blow to many who had been expecting some form of de-enveloping relief to be offered (i.e. the ability to extract their property from its corporate envelope without incurring additional tax charges).

Given what is contained within the draft legislation, it is time for both individuals and trustees holding UK residential property via offshore companies to start considering the cost of retaining their current structure versus the benefit of de-enveloping. This will particularly be the case where companies are incurring the ATED charge without, perhaps, any benefit being derived from 6 April 2017.

In light of the fact that it has been confirmed that no de-enveloping reliefs will be available (subject to any last minute changes to the proposed legislation), individuals will need to be acutely aware of the potential tax charges which may arise upon de-enveloping (e.g. SDLT, ATED-related CGT and non-resident CGT, to name but a few). It may therefore be advisable to have a tax professional review any such structures which are currently in existence and provide a costbenefit analysis of retaining the structure versus de-enveloping. In many cases, particularly when the property is rented out, an offshore company may still provide substantial advantages. While this may be draft legislation and there may be changes made before the legislation is finalised, it does give us a very good indication of what the UK Government’s intentions are for the future.

Given the number of changes which have taken place in this area over the last four years, it has become an extremely complex subject where ‘one size’ no longer fits all. Obtaining professional tax advice should help to ensure that an individual or trust/company structure does not inadvertently become adversely affected by the changes which have or are about to take place.

If you are a non-UK resident and/or non-UK domiciled individual who believes that you may be affected by the UK tax changes detailed above, professional advice should be sought to help guide you through the many pitfalls which now exist in this area.

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opinion Simon Pickering DED

Simon Pickering, Head of OnIsland Development at the Department of Economic Development takes a look at the areas where he expects to see the most significant growth in the Island’s economy in the next 10 years and how both Government and the private sector can work together to achieve this.

How

will Isle

the

of Man

grow?

Words by: Simon Pickering (simon.pickering@gov.im)

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ON THE AGENDA...

T

he Isle of Man’s business community is starting to feel a renewed sense of confidence and excitement for the future of our Island. Anecdotally, we are expecting to see 80% of the Island’s business growth in the immediate future to be driven organically. What I mean by this, is that most of the economic growth the Island is set to experience will be derived from companies and individuals already living or operating in the Isle of Man. Existing companies may choose to diversify into new areas or simply grow and develop their current offering and individual residents may choose to set up on their own. Continued economic growth will be delivered by industry with the help of a supportive Government.

It is hard to mention economic growth without talking about the huge contribution of e-Business and e-Gaming to the Island’s economy in recent years. Built on the foundation of the Financial and Professional Services Industry, the Isle of Man’s ability to diversify and develop its offering sets us apart from other offshore jurisdictions. My chief focus at the Department of Economic Development is Financial Services, however, my remit as Head of On-Island Development overlaps with many other sectors that the Department is working with to support growth. While Professional and Financial services continues to be the powerhouse for our economy, the breadth of the Department’s support extends to no fewer than 14 sectors listed on www. whereyoucan.com, with vastly more subsectors within those areas.

The question on everybody’s lips is, “What’s next?” 30 years ago, few would have predicted quite how diverse the Island’s economy would become. In 2017, however, I take a more open minded viewpoint. Our work at the Department of Economic Development is intended to lay the foundations and groundwork for even more diversity in the future. Working towards Vision 2020 we have come a long way and we are going to go a lot further.

Exciting developments in the Fin-Tech and Biomed sectors are already showing signs of serious promise, supported by schemes the Department has put in place, which include the £50million Enterprise Development Scheme, crowdfunding legislation and the Alternative Banking Regime.

So that gives you a flavour of where the growth might be, but it doesn’t cover what we need to do to ensure that the growth takes place. Firstly, joined up working between Government, industry bodies and companies themselves will be vital. It is Government’s job to provide the infrastructure and economic ecosystem for companies to thrive and it is industry’s job to seize the opportunities CONNECTING BUSINESSES

created. One great example of this joined up approach from the broader Island economy is the Isle of Man Aerospace Cluster (IOMAC), an organisation chaired

by Adrian Moore, one of the Department’s Business Development Managers. Another is the Financial and Professional Services Team’s work with the Life and Pensions Sector with whom I am lucky enough to be associated.

IOMAC (www.aerospace.co.im) allows Government an open dialogue with the Island’s precision manufacturing, engineering and aerospace sector. The benefits of the cluster are clear. The companies together are able to exert a significantly higher buying power than they would were they alone and regular meetings with Government and shared membership of external organisations (such as the North West Aerospace Alliance) provide a greater share of voice when it comes to ensuring their services are effectively promoted and represented.

Joined up working is yielding the foundations of future growth within the Life Assurance and Pensions sector. The sector is doing well and there are now opportunities for both Government and industry to review this progress and strike a real path for the future. One possible route for this may be found within new products such as a flexi-pension scheme for Isle of Man residents. By listening and working with industry we can ensure we provide legislative frameworks that allow companies to develop new products while providing levels of consumer protection and industry regulation that ultimately give customers the confidence to buy.

Internally, I am working with my

colleagues across Government to ensure we adopt the consistent approach expected of a unified organisation. There is still work to do to ensure Government departments work and communicate as one, but we have made great strides. A great example is the growth of the BioMed sector which comes from work between the Department of Health and Social Care (DHSC), the Department of Economic Development and the private sector.

Supporting these changes, recommendations on the state of the work permit scheme are expected in 2017. Work permits remain controversial, but few in industry will deny there is a need to grow the working population in order for industry to sustain current growth rates.

Government must also increase its income to continue to provide the services and infrastructure needed to support both the vulnerable within the population and the economic growth itself.

The Isle of Man is in a strong place economically and there are many opportunities, well beyond those I have written about here, that give me confidence in our ability to remain an economically successful and resilient nation.

To kick start future growth, the Department of Economic Development will once again host ISLEXPO at the Villa Marina, Douglas from the 24th 25th May 2017. This year, the focus of ISLEXPO is around growth and providing the structures local businesses need to grow. ISLEXPO showcases the best the Isle of Man has to offer and will provide inspirational speakers, useful workshops and much more. There will also be another opportunity to hear from Jim Mellon and further speakers and sessions will be announced as we draw closer to the event.

Delegate registration opens soon and there are still opportunities to sponsor the event. Companies should contact the Department of Economic Development for more information and a sponsor pack: dedmarketing@gov.im For further information on ISLEXPO, visit www.islexpo.com ­­­­­­­­­­­­­­­­­­­­For more information on the initiatives and incentives available, please contact me via email at simon.pickering@gov.im or (01624) 686063. Alternatively, visit www. whereyoucan.com/toolkit for everything you need to kick start your business.

51

special reports egaming

The Isle of Man has been internationally regarded as the premier jurisdiction for eGaming business for over a decade, with year-on-year growth in the wake of new products and more entrants coming into the industry.

T

he report in September 2016 from the Economic Affairs unit of the Cabinet Office confirms that eGaming remains the largest economic sector at 19.5 per cent, followed by insurance on 14.9 per cent.

EGaming is arguably the fastest growing industry on the island and without doubt continues to play a major part in the economy.

There are now more than 1,000 people employed within the sector which has attracted people from around the world to locate in the island further boosting the economy.

The Government’s priorities in maintaining the island’s reputation as an eGaming jurisdiction are: n Protecting the young and vulnerable n Keeping gambling crime free n Ensuring that the facilities offered by licensed operators are fair and that players receive their true winnings

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Benefits of establishing an eGaming business in the island according to the Government’s Business Development department are: n Low betting duty of between 1.5 per cent and 0.1 per cent on gross profit n World-class infrastructure, bandwidth and power resilience coupled with excellent data hosting facilities n Extensive clustering of service providers/adviser’s and peripheral activities such as marketing, software and IT providers with experience in eGaming business on the doorstep n Supportive legislation making the Isle of Man an ideal location for disaster recovery n Consumer focused regulation and player protection n A simple application process typically 10-12 week n A qualified work-force n Political stability n Double duty relief for eligible EU member states n Financial assistance for startups and relocation’s. n Unparalleled and unblemished reputation with player protection

ON THE AGENDA...

ICE totally Gaming 2017

A great B2B summit was had by close on 30,000 visitors to ICE Totally Gaming 2017 at ExCel in London last month (Feb).

ICE is now without doubt recognized as the biggest international event for eGaming anywhere in the world. Anyone who’s anyone in eGaming has to be seen at ICE and the Isle of Man’s booming eGaming industry was

CONNECTING BUSINESSES

well represented by its ambassadors, be they regulators or operators.

This is an exhibition which is the annual launch pad for the eGaming industry, hundreds of new products are launched during the threeday event. As a showcase ICE is compelling for both innovation and expertise. It is, after all, a sophisticated toys, games and gambling show.

Agenda asked some key Isle of Man companies who attended ICE to provide a viewpoint on the B2B event. >>>

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>>>

special reports egaming Mark Robson, Head of e-Gaming for the Department of Economic Development commented: ICE is undeniably one of the biggest e-Gaming summits in the world. ICE 2017 brought together a collection of the world’s top firms and jurisdictions to share ideas, learn from one another, make new connections and ultimately develop new business opportunities. The Isle of Man is one of the top centres for e-Gaming in the world and shows like ICE are where a lot of business takes place in areas where Isle of Man companies lead the industry.

Events like this one enable us to keep on top of industry trends and benchmark our perceptions of emerging markets. As a jurisdiction, to continue our growth trajectory we need to be attractive to operators targeting these new markets. They are looking for jurisdictions which are dynamic and reputable, that strike a balance between keeping crime out and supporting high quality businesses.

They also want a jurisdiction base with a robust telecoms infrastructure and strong

data security capabilities. The Isle of Man benefits by offering just that and ICE is always a superb opportunity to open new conversations with both new and existing companies searching for a home or potential for growth.

Not only that, shows such as ICE provide a fantastic opportunity for us to gather focussed media attention, particularly around important announcements. This year we worked with the Gambling Supervision Commission to announce changes to the Isle of Man’s licensing structure. So far, the press and industry response has been phenomenal with positive coverage in both digital and print media.

The Isle of Man has a great e-Gaming offering. We are the jurisdiction of choice for companies looking to solidify their global presence with efficient regulation and a strong and supportive industry. Long may this continue! www.whereyoucan.com/egaming

Equiom’s Peter Greenhill reflects on ICE 2017 From 7 – 9 February, the ExCel Centre in London hosted the most important annual eGaming event in the world: ICE Totally Gaming.

Supporting the government on the Isle of Man eGaming stand, Equiom had 6 staff available at the show answering questions about establishing new companies, obtaining licences, tax and VAT implications as well as promoting the benefits of the Isle of Man as a leading eGaming jurisdiction.

Brexit was top of the agenda for lots of companies and we were involved in quite a number of discussions relating to the possible effects of the UK’s exit from the EU on different countries.

Whilst everyone agrees that it is far too early to have any definitive conclusions on what will happen, it is clear that many of the major gaming companies across several locations are already exploring possible options with their professional advisers.

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The results of Equiom’s conversations with various gaming companies and intermediaries during ICE concluded that it is clear that the options will depend heavily on the location of the gaming operators’ clients around the world and the size and projected growth of their business.

New products shown this year at ICE included a number of virtual reality game ideas, although most would agree that this concept will take several years to refine and improve initial concepts to the acceptable level of completion.

Equiom discussed the Isle of Man’s proposition with visitors from many countries including Czechoslovakia, Greece, Nigeria, the Philippines, Russia, Serbia, Sweden, Switzerland and the USA. Watch this space. www.equiomgroup.com

ON THE AGENDA...

Manx Telecom focus on world class hosting, cloud, and disaster recovery at ICE 2017 World class hosting, cloud and disaster recovery solutions were the key topics which Manx Telecom focused on at this year’s ICE Totally Gaming expo which was held at London’s ExCel in February.

It’s the gaming industry’s biggest annual expo and a key event for networking, learning and doing business for operators, suppliers, service providers and regulators.

Gareth Hooson-Owen (Corporate Account Manager) and Dale White (Business Development) represented

Dale White

Manx Telecom on the Isle of Man Government eGaming stand. The Manx Telecom team reported a really positive response throughout the expo, and interest from delegates from around the world in the advantages which the Isle of Man offers for eGaming operators – especially the Island’s simple licensing process, resilient infrastructure, and low costs.

Gareth commented: “A key area of interest this year were the advantages which eGaming operators can gain by utilising Isle of Man based data centres for disaster recovery. Operators currently based in other jurisdictions appreciated the advantages which the Isle of Man offers by allowing eGaming operators from anywhere in the world to operate their disaster recovery licence-free for 90 days. This means that DR solutions can be provided which can be rapidly invoked, and which can be scaled to meet the needs of the operator.”

Manx Telecom - the only Isle of Manbased provider which owns and operates twin Tier 3 designed data centres - offers hosting, co-location, disaster recovery and managed services with eGaming clients ranging from start-ups to the world’s largest poker network, PokerStars. www.manxtelecom.com/egaming

Gareth HoosonOwen

Viewpoint from ICE by Dan Kniveton, Manager, IT Advisory, KPMG in the Isle of Man Evident again was the number of malware companies with stand at this year’s ICE. Whilst there was not an obvious increase on the previous year, it will be interesting to see how the malware companies push their trade in years to come.

Recent reports suggest an increase in missing online gamer’s accounts, in-game items or characters, especially with the increase in skins trading, virtual goods or cosmetic items that can be used as virtual currency. Sites are being created whereby such items can be traded for cash meaning that numerous gaming hours taken to earn a reward could be lost and sold on for cash.

Perhaps the bigger issue around this is the loss of personal information when an account has been hacked. This has been prevalent across other industries, with Talk Talk hacked in 2015, the World AntiDoping Agency in 2016 and Three Mobile, also in 2016. Online gambling cannot

CONNECTING BUSINESSES

escape the increased threat of personal information being stolen or in-game items going missing.

One supplier trying to counter this is online gaming software supplier, Playtech, which has just signed up with Featurespace to increase the fraud and risk tools available to Playtech licensees. This monitors anomalies in individual player behaviour, identifying unusual betting behaviour which can then be investigated.

This is, of course, a detective tool as opposed to a preventative tool, which may be seen as the requirement going forward to combat the online crime being seen in eGaming.

It was also interesting to note that the UK Government is to require schools to offer cyber security lessons. It is hoped that this will give 5,700 pupils ages 14 and over access to around four hours a week of cutting edge cyber security material.

Currently, entities holding a licence with the UK Gambling Commission for Remote Gambling are required to have an annual Security Audit, which touches upon some cyber security and malware aspects. Following the recent release by the IOM Financial Services Authority on their Regulatory Guidance in relation to their expectations on cyber security, the momentum appears to be building with regulators as they become increasingly aware of the need to get up to speed on this threat to the industry.

ICE is one of the most important and well-attended events in the industry’s calendar, with major international figures from throughout the sector present.

This is a key opportunity to highlight Appleby’s expertise in the online gaming and gambling sectors across multiple jurisdictions.

Events like ICE are also a good chance to promote the Isle of Man as a centre of excellence with many benefits. Our highly respected licensing regime, player protection mechanisms and professional services encourage existing operators as well as start-up businesses to consider doing business in the island.

The gaming industry is experiencing many significant developments at the moment. New products and more entrants into the industry demonstrate the strength and growth of the sector but alongside this are ongoing challenges of emerging markets and increasingly demanding regulatory requirements.

www.kpmg.co.im

www.applebyglobal.com

Viewpoint from Claire Milne, a partner in the corporate department at Appleby.

55

special reports egaming

Teasing

out talent I Skilling up young people for future employment will be essential for the Island’s eGaming and high tech industries

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Words by: Wendy Shimmin

t’s a well-known fact that eGaming is now the largest contributor by sector to the Manx economy, accounting for around a fifth of national income at the last count. It’s also true that any analysis of its future potential is almost certain to feature the words “skills shortage” as gaming operators vie to recruit people with sufficient IT capability to take their businesses forward.

This is not a singularly Manx problem – eGaming and high tech businesses globally report difficulties in finding the right staff to satisfy rising consumer expectations and unleash the many opportunities posed by mobile communications, increasingly sophisticated software applications and the Internet of Things.

ON THE AGENDA...

“The number of GCSES being taken in computer science and similar subjects is rising”

But, for a jurisdiction that is wellrespected in this field and intent on attracting more eGaming and high tech business to its shores, what can be done to encourage and channel home-grown talent to support the industry on the Isle of Man? eGaming operators themselves are faced with something of a dilemma when it comes to developing the appropriate skills base in the younger generation.

Given public sensitivities, the strong focus on responsible gambling and the fact that it is an activity restricted to those aged 18 years and over, it is simply not feasible for them engage directly with anyone under that age through school projects, work experience or internships.

Consequently, whilst they may like to be more active in promoting the types of skills needed among the workforce of the future, eGaming businesses themselves generally only step in rather late in the day when, to some degree, many young people’s educational choices have already been made.

So how do we skill up young people to take advantage of future job opportunities?

Step in the Manx ICT Association (MICTA), an organisation formed in 2010 to “represent, support, promote and grow” the Isle of Man’s ICT sector.

While MICTA’s remit is larger than skills development – it acts as a trade association, lobbying on behalf of the eGaming and ICT industries at all levels

CONNECTING BUSINESSES

– it has a fundamental commitment to working with the Government to shape and promote the future of ICT education in Manx schools. Its plans for this are wide ranging but it is already involved in two successful initiatives: Code Club and the MICTAcademy Digital Apprentice Scheme.

Code Club was the brainchild of Owen Cutajar, now MICTA’s Education Liaison Officer, and is a weekly fun informal gathering that encourages people to become interested in creating games and applications, rather than simply playing them. Open to all, it is particularly popular with 8–14 year olds who enjoy the cool resources at the Club’s disposal such as the virtual reality headsets, drones, 3-D printers and web-based coding tools.

Younger attendees are helped to create their own games and applications through software such as Scratch and there is also a whole raft of coding resources for older visitors and support with online courses for advanced learners.

Owen says the club is a way for people to discover and develop all sorts of skills that transfer to the eGaming and high tech industries: “Code Club encourages people to think logically and apply a methodical approach to problem solving. I liken it to trying to fix a car that won’t start – you need to work through the possibilities of what the problems might be.

“But Code Club isn’t just about creating

coders and engineers. After all only about 10-20% of the IT industry are the developers who create code – we also need the people who will be storytellers, who design graphics, characters and music.

Code Club gives people an opportunity to develop all these skills too.”

While Code Club is designed to fire the imagination, the aim of the MICTAcademy Digital Apprentice Scheme is to offer the first steps along the path of a career in IT. Working in conjunction with the Department of Economic Development and University College Isle of Man, the scheme matches school-leavers with hightech employers to provide two years of paid apprenticeship training – four days a week at work and one day at College.

The scheme was launched last September with an intake of 10 apprentices and will run again this year. “It’s a fantastic opportunity for youngsters to develop their career on-Island and get paid into the bargain,” says Owen. “There has been a very positive response from employers and we are looking for more companies to join the scheme this year.”

While the apprenticeships are still in their infancy, work on promoting IT skills in young people from organisations such as MICTA, as well as by the Departments of Education and Economic Development, seems to be having a positive effect.

“The number of GCSEs being taken in computer science and similar subjects is rising,” says Owen. “The trick now is to encourage as many people as possible to develop their skills here on the Island.” www.codeclub.im

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special reports egaming

I

t might have an “e” in its name but the Isle of Man eClub is very much a physical rather than virtual community.

Set up in 2010 by Continent 8 Technologies and KPMG, eClub was designed to create an opportunity for employees in the eGaming and other online businesses to meet each other in an informal social setting.

The first gathering took place in the Courthouse in December 2010 with a welcome party and since then eClub members have met regularly at a number of different venues to swop and share stories, network and enjoy an evening of entertainment.

Recent events have taken place at the Best Western Palace Casino, where attendees could take part in fun tournaments on the gaming tables and at Rose Estate’s new office property Analyst House where members could try their hand at a completely different set of traditional games such as quoits and skittles!

At the time of its inception, it was thought around 600 people were working in eGaming industry in the Isle of Man. Latest estimates suggest this number has probably doubled and eClub has also broadened its remit to include those working in other digital businesses like ePayments and cryptocurrencies.

Anyone working in the eGaming and digital space is invited to join the eClub so there is a great mix of skills and representatives from all levels of business and you’re never short of anyone to talk to!

As well as enabling like-minded people to get together, eClub offers a valuable opportunity for local businesses to host one of the events and showcase a particular product or service to an interested community.

Previous sponsors have included Annexio, Moneycorp, Sure and Equiom, among others, who have all been

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Eclubbing

The place to be for anyone working in the eGaming industry

Save the date:

delighted with the buzz created at their event.

Sponsors also benefit from the services of Ashgrove Marketing who provide all the promotion and event management of eClub meetings. This includes invitations, press and social media coverage as well as professional photography, venue and catering liaison.

Ashgrove’s Annie Macleod says: “eClub is primarily all about networking and supporting the hundreds of individuals working in the eGaming sector and associated businesses.

“The focus is on providing a fun welcoming atmosphere where attendees can relax, have

a drink and chat to people they may not have met before. Our sponsors enjoy these events as much as the attendees and are glad to have the opportunity to raise their profile amongst such an enthusiastic audience.

Many sponsors also mention how good it is to give something back to the people working in the industry.”

Individuals wishing to join eClub should visit www. facebook.com/IsleofManeClub or join the group Isle of Man eClub on LinkedIn. Anyone interested in sponsoring an eClub event should contact Annie Macleod at Ashgrove Marketing on 645390.

The next KPMG Isle of Man eGaming Summit, for anyone involved in the eGaming industry and supporting businesses, takes place at the Villa Marina in Douglas on 7 September 2017. The report from last year’s summit, sponsored by Continent 8 Technologies, is now available and can be found on the KPMG Isle of Man website.

ON THE AGENDA...

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technology wi-manx

State-of-the-art Tech

with A Local Touch

Founded in 2004 as a broadband provider, Wi-Manx has since grown into a one-stop shop for businesses seeking resilient voice, hosting, internet and datacentre solutions, and for residents looking for cost-effective broadband and first-class technical support.

W

ith over 2,700 customers across B2B and B2C markets, it’s imperative that we provide a reliable service. Our core off-Island network – which supports internet, security, voice, backup, cloud and MPLS services – ensures fast, dynamic connectivity 24/7/365.

Our network begins at our Heywood House datacentre. The most modern facility of its type on the Isle of Man, Heywood House boasts 2(n+1) UPS systems, diverse A+B power feeds, the latest cooling technology, cold-aisle containment and first-class security systems.

Heywood House, along with two secondary IOM datacentres, resiliently interconnect to London and Manchester datacentres via multiple subsea fibre cables. Separate fibre routes and data replication ensure that failure events can be managed without impact to Network or Datacentre Services.

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But, no matter how much our offering develops, we know that it means nothing if not paired with excellent customer service and support.

For businesses to thrive on the Isle of Man, it’s crucial that they look after their customers and nurture local talent. By providing personal and efficient support, we make sure our customers are never let down. Through internal promotions and new hires, we get the right people in the right places.

ON THE AGENDA...

Only by employing engaged, expert staff can we deliver the bespoke solutions and consultative approach that makes us unique. And this philosophy is shared by our latest hires, Lee Meier and Tony Cawte.

Bringing with them 45 years’ combined experience, Lee and Tony reflect exactly what Wi-Manx is about. As Lee, Head of Datacentres, says, “Joining Wi-Manx has given me the opportunity to work for a more agile company looking to provide a personalised service to its customers.”

Looking forward, Tony, Head of Networks, says, “My start at Wi-Manx couldn’t have been better timed!

Coinciding with significant investment in Network infrastructure, additional and increased capacity circuits meant launching immediately into a major upgrade project. My focus is now on the next phase of developments and our commitment to upgrade consistently and stay ahead of the curve.”

From day one, Wi-Manx’s vision has been to pair state-of-the-art technology with excellent customer service and local expertise. That ambition remains as true today as it was in 2004. If you’d like to find out more about Wi-Manx and our culture, get in touch to book a tour of the datacentre. We’d love to show you around.

CONNECTING BUSINESSES

Lee Meier

Tony Cawte

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technology feature

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ON THE AGENDA...

Competition is forcing companies to skip the download stage Words: Tim Bradshaw (FT)

M

easured against any metric, Apple’s App Store has created a whole new economy since its launch in 2008. Owners of iPhones and iPads spent $20bn on apps in 2016, the company said in January.

However, just like the wider economy, Apple and Google’s app stores have a growing inequality problem.

While the rich — such as social media site Facebook and King Digital Entertainment, developer of the Candy Crush video game — get richer, other developers are finding it ever harder to get their apps noticed. More than 1.5m are available for download from Apple’s App Store alone.

But a study by Activate, a tech and media consultancy, showed that users spend more than three-quarters of their time on just five apps.

“App adoption and monetisation are heavily skewed towards the top few apps,” says Alex Austin, chief executive of Branch Metrics, a mobile app technology provider, in a November blogpost. He added that “99 per cent of the value is centralised to the top 0.01 per cent” of apps.

Yet at the same time it has never been more important for companies to build a mobile presence. ComScore, an internet analytics company, found that usage of mobile apps overtook time spent on desktop PCs in the US past year, with 18-34-year-olds now spending 61 per cent of their digital media time on smartphones. Flurry, a mobile analytics service owned by Yahoo, found that time spent on mobile more than doubled overall in 2015.

The dominance of the smartphone is something of a challenge for developers hoping their app will become the next big thing. This has pushed some companies to experiment with different kinds of mobile engagement, including some that do not require apps to be installed on devices at all.

From virtual assistants — software that performs secretarial-type functions — embedded in messaging services to apps that can be “streamed” instantly, as one would an online movie, technologies are emerging that offer different ways to avoid downloading apps.

Ryan Hoover, founder of technology recommendation site Product Hunt, coined the phrase “invisible apps” to CONNECTING BUSINESSES

describe companies that use instant messaging services such as Facebook Messenger, business focused chat app Slack or simple text messages as the main way to reach their users.

“Some of the hardest things for every company is gaining attention, distribution and becoming a daily part of someone’s life,” he says. “That’s one of the reasons Slack has had so much traction with developers.”

Mr Hoover says he is reminded of about a decade ago, when everyone was building on top of Facebook’s platform instead of having their own isolated portals in their efforts to attract customers.

For instance, after initially launching as a mobile app, Paris-based expenses tracking start-up Birdly decided a Slack “bot” — an autonomous computer program — would do the same job faster. Users send a photo of a receipt to the Birdly bot, which scans the data to a spreadsheet.

Other examples of “invisible apps” include Ukraine-based PocketTour, a travel agency accessed via messaging app Viber, while San Francisco company Digit helps users to manage their finances via text messages.

Using messaging apps for more than just chatting is already widespread in Asia thanks to the likes of WeChat and Line, which have long been used to send money or hail a taxi.

In Silicon Valley, Facebook has so far been the most aggressive in promoting this behaviour outside Asia. In 2015, it opened up its Messenger app to other developers. They can create extra features, such as emoji keyboards for embedding graphic symbols including smiley faces in messages. And businesses can communicate individually to Facebook Messenger’s more than 800m regular users. Selected retailers are testing out the platform for tracking deliveries or offering customer support.

During January’s Digital-Life-Design conference in Munich, Facebook-owned WhatsApp Messenger announced that it would also allow businesses to communicate with users through the app.

“That could mean communicating with your bank about whether a recent transaction was fraudulent, or with an airline about a delayed flight,” WhatsApp said in a blogpost.

However, the service is unlikely to be free for businesses. WhatsApp is hoping it will generate revenues offsetting its annual $1 subscription fee, which it scrapped at the same time.

In the general space of [artificial intelligence], virtual assistants that can perform functions such as suggesting gifts for spouses or booking restaurants are growing in popularity. The likes of Magic, Operator and Facebook’s M all offer concierge-like services through text messaging-style channels.

“Virtual assistants that can suggest gifts for spouses or book tables in restaurants are growing in popularity”

“Traditional apps tend to provide general experiences, whereas these recent advancements are more about personalised experiences,” says Jan Dawson, tech analyst at Jackdaw Research.

In November, Google also began an “app streaming” pilot — which lets users access apps without downloading them — in an attempt to bring together the best of the traditional web and mobile applications.

This test is provisionally limited to a handful of partners, but Google is also opening up other parts of its mobile platform to developers. Google Now, the group’s automated organiser, can draw information from existing apps such as restaurant booking service OpenTable and car share company Zipcar. Users see information from these providers without having to open apps.

Reducing the app to its essential elements is likely to go even further. John Borthwick, chief executive of start-up studio and investor Betaworks, says that push notifications — messages that pop up from an app if users have signed up for them — will become the “primary interface for computing”, as apps communicate messages that are relevant to the person receiving them.

Mr Brothwick says: “Instead of having to open an app and find something off the web, your device and the contextual data it has — such as location, interests, time, weather — can tell you about it with a push notification.”

For developers, mobile apps remain essential. But techniques such as push notifications and chat bots offer wider opportunities to cut through the digital clutter by working with the likes of Facebook, WhatsApp and other giants of the app stores, rather than competing against them for consumers’ attention.

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Entrepreneur brett turner

“I See An Opportunity and Work Flat Out To Make It A Success” SAYS THE MAN WHO ENJOYS CREATING SOMETHING FROM NOTHING Words By: Les Able Photos: Matt Mosur

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ON THE AGENDA...

B

“It was once the old Flying School building, in 12 weeks we totally refurbished it into a restaurant which has 12 tables and can seat 46 people.”

CONNECTING BUSINESSES

rett Turner likes a challenge.

“I enjoy watching something develop from nothing and become a success,” says a man who admits his real love is aviation but is now back in the restaurant business where he started as a teenager.

He has just celebrated the first anniversary of his restaurant Cafe Bar Two-Six which is on the edge of Ronaldsway Airport, overlooking Derbyhaven.

“It was once the old Flying School building, in 12 weeks we totally refurbished it into a restaurant which has 12 tables and can seat 46 people,” says Brett, 53, who owned his own pub in Torbay when he was 19 and went on to be area manager for the Garfunkel’s chain of restaurants.

His enthusiasm for what he calls his “real baby at the moment” is all apparent, along with plans for further investment in the restaurant where bookings for a table have to be made a week in advance.

“We did 51 lunches today,” enthuses Brett.

“The emphasis is on fish and home cooked food, comfort food, all our cakes are made in the restaurant.

“We’ve achieved something from nothing,” says Brett, who admits that work for him is an extension of his social life.

“I love the people I work with, they are friends as well as employees and work for me is an extension of my social life. I sit and have breakfast in the restaurant and I’m thrilled at what we have created.”

While the restaurant is one passion for him, aviation is another for someone who got his private pilot’s licence in 1989.

Ten years later Brett and his family moved to the Isle of Man. “I wanted our two children to grow up in a safe environment,” explains Brett, who for a time worked for Manx Airlines and then in 2002 joined Euromanx. “I managed the airline until it was sold in 2005 and then became involved with a ground handling company, over a couple of years we built it up to a business employing 500 people spread across six UK airports.”

Once that business, in which Brett had a share, was sold his ambitions took him to Dubai to oversee the ground handling operations at Sharjah Airport. After two years he was back in the Isle of Man where he wasted no time in becoming involved in the setting up and the growing of companies under the Rendezvous corporate umbrella.

These are the airport’s Rendezvous Executive Lounge, Valet Parking SpeedyPark, Rendezvous Freight Services, Rendezvous Handling Services for Citywing and Rendezvous Sky, an aircraft broker for private jets.

“I’m very much a deliverer, not so much an operations man,” he declares. “I see an opportunity and get stuck into the business and work flat out. My days are

Cafe Bar Two-Six - Derbyhaven

never quiet, there’s so much on.”

Yet another “baby” is Isle of Man Flight Training which he set up two years ago in a building opposite the restaurant. “For me, it’s more of a bit of fun and is part of my passion for light aircraft, it’s the first step to airline piloting, although I don’t do as much flying as I would like.”

So what drives him? “I get bored, I have to do something and it’s great to seeing it through from nothing to success.

I start at ground zero. I love employing people and across the businesses we have some 43 staff.”

He goes on: “While I understand the ‘numbers’ when it comes to the financial aspect to the running of the businesses I employ good financial people to support me. They look after the mundane bit and I go out there and make it happen. When it comes to staff I expect loyalty and honesty and want them to be part of the business, and not just here for the money. I don’t want people who will take sickies just because they have been out on the night before.”

As for retirement he says: “Looking ahead five years I would like to be in a position to nip down to Spain and come back for a few weeks at a time, you might call it semi-retirement.”

In the meantime relaxation will once again be concerts and the summer music festivals. “I love 80’s music, going to a festival and living in a field for three nights, great fun. I don’t have a particular hobby. I do what I want to do and I’m in a position to do it.”

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entrepreneurs - jo & June whiteman

“We started the company after both leaving our employed positions within the financial sector” Jo Whiteman

RELATIVE VALUES

MOTHER AND DAUGHTER JOIN FORCES IN A VIRTUAL ENTERPRISE Words By: Les Able Photos: Matt Mosur

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ON THE AGENDA...

J

o Whiteman, on her own admission, was a “revolting” teenager when she moved to the Isle of Man with her family from sunny South Africa where life was akin to living a dream.

“Let’s just say she was challenging,” laughs her mother June. “As a child she was head strong, it was either Jo’s way or the highway.”

Today, 16 years on, Jo is in love with the island, lives an idyllic life on an equestrian estate in St John’s with her partner Luke and she and her mother are not just the best of friends but partners in a business they launched in September last year.

Virtually There is their company but it’s an enterprise with something of a difference which has June working from her home in Ballasalla and Jo from her’s in St John’s with each a virtual assistant to businesses.

“We started the company after both leaving our employed positions within the financial sector,” says 30-year-old Jo, who was born in South Africa. “We each work out of our professional home offices and it’s a way of working we both enjoy, having decided we wanted to do something different in our day-to-day lives.

“We are targeting small businesses, entrepreneurs and individuals, our services are for anyone who needs some help, whether it be business support or helping small businesses with their marketing plan/ideas, social media platforms along with booking personal trainers, restaurants or organising their diary commitments.”

Jo looks back to her teenage years when she suddenly found herself at the age of 15 in an alien environment having left behind all her friends in the town in Durban where the family had lived throughout her childhood.

“It’s very difficult making that sort of move when you’re a teenager and it took me two years to settle into it, I just couldn’t understand why we had to leave the tropical environment in which we had lived. Yes, I was probably challenging at that time, revolting as well. Eventually, things started coming together and I certainly enjoyed my time at Isle of Man College.”

On leaving education Jo briefly flirted with the idea of going to university or the London College of Fashion but she decided the time had come to earn some money and joined Lloyds Bank in Douglas.

“But then I opted out and became a ski instructor in Argentina and that was followed by stints in Japan and France but we’re a close family and I’m something of a home bird so was missing Mum and Dad. By then you could say I had grown up and realised why we had left South Africa and had come to the Isle of Man. I came back to the island and straight into Friends’ Provident Life Assurance.”

CONNECTING BUSINESSES

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entrepreneurs - jo & June whiteman It was in July last year that both Jo and June made the life changing decision to give up their jobs and strike out together by launching their own business.

“The idea was mine,” says June, who for the past nine years had been working as a personal assistant to the finance director of one of the island’s major financial companies. Unassuming, but clearly the family’s determined matriarch, it was Zambian born June and her husband Martin, who is British, who made the decision to leave South Africa where for many years they owned a shoe factory outside Durban.

“Between us, Martin and I have four daughters,” says 52-year-old June. “Our two older daughters still live in South Africa but Jo and our other daughter Bonnie came with us. In making any decision I have a knack of blocking things out, making it work and dragging all behind me, getting everybody focused on what to do.”

There were family reasons for the decision to move to the island but there was also the security which it offered.

“There is a lot to be said for being safe and that’s an environment here which many people take for granted but when you have lived in a country where your safety and privacy have been rocked you realise the benefits.”

In 2015 June signed up to do a virtual coaching course which led to her becoming a virtual assistant. “It enables you to work remotely, using the internet, but offering a support role to businesses looking for resources they don’t have to employ on a full-time basis but can slot in when needed. We are doing really well and the number of new clients is steadily increasing, Jo and I are now looking to grow the business in the coming months.”

Mother and daughter are in contact throughout the day and, says Jo, their client base has primarily come from networking and recommendations. “What come across is that many small businesses and individuals working on their own value a company with a strong family relationship which can offer gravitas and inherent trust. It creates something of a comfort zone.”

So what are their opinions of each other?

Jo: “As a mother she has taught me everything, we are very close. She is phenomenal, organised and ethical. We have launched a business where the opportunities are endless.

June: “It is so rewarding to see how Jo, once an insecure and unhappy teenager, has developed. She is very competent, committed and responsible. As a business we are ‘can do people’, never ‘can’t do’. We will always find a way.”

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Fact File Revelations Favourite possession:

Jo: MacBook June: My Macbook Favourite place:

Jo: Home, there is no place like it June: Home Favourite colour:

Jo: Blue June: Red

Favourite animal:

Jo: Horse June: A Great Dane, called Merlin Favourite smell: Jo: Fresh country air June: The earth after rain

Favourite way to spend a weekend:

Jo: Riding my horse Jordie around the beautiful Manx countryside June: Pottering Favourite food: Jo: Cake June: Fish pie Favourite ice cream favour:

Jo: Cookie Dough June: Pistachio

Favourite restaurant:

Jo: New Manila June: Can’t say I have one

Favourite pastime:

Jo: Cooking and being creative June: Sewing and gardening Favourite film:

Jo: Untouchables June: On Golden Pond Favourite book:

Jo: Me Before You – JoJo Moyes June: The Secret Life of Bees Favourite song:

Jo: Anything by Queen June: Anything by Burt Bacharach Favourite person:

Jo: Couldn’t possibly comment, I’d offend too many people!

June: Tricky one to answer without offending the rest of the family Favourite celebrity:

Jo: Denzel Washington June: Meryl Streep Favourite things to splurge on:

Jo: Our home, the horse and of course clothes June: Out of the ordinary foodie bits to create a ‘designer’ picnic Favourite memory:

Jo: My upbringing in South Africa June: Discovering new harbours on our sailing holidays in the Greek islands ON THE AGENDA...

entrepreneur - tracey bell

“My last three years have been fascinating, studying the legal implications of practice and care”

Tracey Bell obtains Cardiff University Law School Expert Witness Certificate

T

racey Bell is known for her commitment to investing in her education and business, having recently celebrated her PGCert and diploma in Dental Law and Ethics before embarking upon her studies for her Masters. These legal skills will be used in her field of dentistry and

CONNECTING BUSINESSES

aesthetic medicine.

Tracey has now obtained her latest qualification, an expert witness certificate from Cardiff University Law School; expert witnesses play a key role within the UK’s judicial system by providing opinion based evidence to assist courts in reaching decisions. They may be asked to write a report or statement and can be called to give evidence in a wide variety of legal forums including: civil, criminal and family courts, tribunals, arbitrations, inquiries and professional conduct hearings.

Tracey stated: “Having completed my qualification at Cardiff University, I can offer impartial evidence in the field of dentistry and facial aesthetics, something that I have grown up with over the past 24 years and which has become my life and passion.

“Over the past ten years, treatments and technology have changed in dentistry and aesthetic medicine with the advent of the internet, online education and social media. Knowledge and information is widely available which can help patients make decisions. However, respect for autonomy and consent from patients is paramount in providing patient care and for me it was a natural progression from dentistry and aesthetics to understanding the legal aspects of patient care, decision making and ultimately providing the patient with the correct information in order to make the best decision.”

Tracey added: “My last three years have been fascinating, studying the legal implications of practice and care. Patients ultimately are driven to make decisions in time of need, when in pain or under stress and therefore the process of decision making needs to be considered in that context. Patients certainly have the right to challenge all treatments provided and ultimately the patient should understand their options – this is something that many practitioners may have taken for granted in the past or may simply have offered one solution. Today in medicine and dentistry there are many potential solutions and patients should be informed of all of their options.”

“I’m very much a people person”, added Tracey, “and I like patients to be treated right with care, empathy and understanding as I would expect as a patient myself. I intend to use my skills in the long term, maybe in the legal field, but at the moment I’m enjoying the learning!”

Tracey’s illustrious career as a dentist, which has led to her opening five of her own clinics, training the next generation of leading dentists and aesthetics specialists, and her ongoing commitment to both learning and teaching make her ideally placed as a dental expert witness, bringing her expertise and experience to the field of law.

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entrepreneur - keirron tastagh

Children Need to Learn About Nature and the ‘Outdoors’ As Part of Education System

Says Kayak Adventurer Keirron Tastagh “C

hildren are all too often getting an overload of electronic contamination,” declares Keirron Tastagh, founder and managing director of Adventurous Experiences, one of the island’s most successful outdoor enterprises.

“Yes, they need a certain level of understanding of gadgetry to get through modern day life but it can be taken to extremes and they may never experience what outdoor life can deliver.”

Keirron, 37, pulls no punches. “My ambition is to promote real understanding in both education and health of the benefits, and increasing need, for regular opportunities to be active outdoors amid nature.

“Instead of allowing cost and risk aversion to justify inaction, use the health and learning benefits to generate solutions, create more opportunities, enhance perspectives and change priorities,” declares Keirron, whose name is synonymous at an international level with kayaking.

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Words by: Les Able Photos: Matt Mosur

He adds: “This island is an adventure playground and could be better utilised.

The outdoors is a great educator, it gives you life education and needs to be more a part of the education system.”

Strong sentiments from someone who grew up without a television lurking anywhere in the house. “Not having a TV was never an issue, there just wasn’t the time for it and I still don’t have one,” laughs Keirron, who is single but has two daughters, Alice, 17, and six-year-old Theia,

who both want to work in the business.

Younger brother Kim, 22, does so already along with sister Keri and husband Steve.

Isle of Man born and bred, Keirron was one of eight children and grew up on the family farm at St John’s, although no longer farmed apart from poultry and apples it is still ‘home’ and where Keirron’s business is based.

“I grew up in a family which was outdoor motivated and was dragged around the Lake District on a regular ON THE AGENDA...

“I grew up in a family which was outdoor motivated and was dragged around the Lake District on a regular basis”

basis,” laughs Keirron. “I was a Sea Scout at an early age and my mother was once a kayak coach and youth club leader. We did lots of exploring along with walking, climbing and scrambling round the coast.”

What often horrifies him is that many people who sign for an ‘Experience’ have no life skills, some even finding uneven ground a challenge for them to scramble over. “There is a large modern day drive to academic literacy, there also need to a balanced approach to physical literacy.”

His entrepreneurial streak showed itself at an early age. “At the age of six at primary school I had my own business cards with my name and address on them advertising free range eggs,” admits a grinning Keirron when talking about childhood.

He left school before his GCSE’s to do an 18 months apprenticeship learning cabinet making but then returned to do A-levels. “I only qualified to do the most boring aspect of joinery which was door and windows, wood turning was more creative and I found I wanted to keep it as a hobby.”

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University College, Birmingham followed for three years, Keirron gaining an honours degree in Adventure Tourism Management. At weekends he would travel up to Anglesey to work in a friend’s residential run centre. “I spent a lot of time kayaking and mountaineering and by the time I’d finished university I had the highest outdoor qualifications while doing a degree. I still hold that record.”

Until he went to university Judo had been his main sport from the age of six

but that all changed once bitten by the pleasure and challenges of kayaking. He went solo for the first time when, at the age of 22, he paddled from Anglesey to the Isle of Man, the 52 nautical miles taking him 14 hours.

It was in 2004 that he “kicked off” the business but admits it would not have flourished as it has without his “hugely supportive” family and friends. “I wouldn’t be where I am without that, a large number of people have given advice and input over the years,” he adds.

It was only when the business was in its second year that he got his first diary along with the launch of the Sea Kayak Symposium and the taking of people on sea kayaking when previously there hadn’t been the structure to allow development of the highest levels of kayaking.

“The courses we offer take people from where they are to where they want to get to. The junior paddle sport programme for youngsters aged around seven upwards, was launched four years ago and has been an exceptional success, with more than 100 members. It means the kayaking scene here in the island in the next 10 years will be unbelievable.”

The attributes of “team building” for both young and old is emphasised by Keirron. “While certificated awards play an important part we want to equip people to challenge themselves and learn to manage decisions along with taking risks responsibly in what is also a great activity for agility, balance and co-ordination.

There is a lot of shared experiences, that is because they are doing an adventure sport.

“We have people well into their 60’s , which includes men and women, who are training hard each week, the oldest I’ve trained was a man aged 74 and there are nine coaches involved in the training of those who are in the Adventure Club. We do a Youth Scholarship Scheme which offers 18 months of free training for sixth form students. It’s offered to anyone doing A-levels.

“We are now where we wanted to be and the next stage is to bring risk management and outdoor activities into playing an integral part in mainstream education. This is not about bringing us more work but the understanding of how outdoor activities develops people, changes their priorities and perceptions plus becoming a lot healthier.”

While he is looking to delegate more, Keirron also wants to be in the vanguard of coaching at the same time admitting the success of Adventurous Experiences sees him being asked to speak at UK and international gatherings.

So how does he relax? “I go out and have adventures,” is the rapid response.

“If it’s off island then it’s ice climbing and when doing that there’s no scope to think about business. I live the job, very few days do I take off.”

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entrepreneur - peter verstage

The Kite Surfing Entrepreneur And Lothario

Whose Millions Were All Down to Envelopes

International traveller and man of the Isle of Man Peter Verstage is someone who has good reason to remember the three–day working week in 1974 which was to change the whole direction of his life.

Words by: Les Able

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ON THE AGENDA...

I

ntroduced across the UK by the Conservative government led by Prime Minister Ted Heath, the controversial measure was aimed at conserving electricity supplies in the face of industrial action by coal miners.

“The three-day week was bringing about a desperate shortage of envelopes as suppliers could not meet demand from clients,” recalls Peter, who has lived in the Isle of Man since 2001.

“This was all in the days before the internet when companies, large and small, relied on regular supplies of envelopes for sending out invoices at the end of the month. When the shortage turned into a glut I saw a niche, acquired the whole stock of envelopes from the liquidator of one company for nothing and in effect became an envelope broker, buying and selling millions of envelopes over the phone. Envelopes took over my life.”

By the time the three-day week ended Peter, then aged 28, had become a CONNECTING BUSINESSES

phenomenal success in the trade. “I then got into printing envelopes, it was a time when direct mailing was just beginning to take off with companies such as Reader’s Digest wanting messages and logos printed on envelopes. It was a crazy time, I was working round the clock to meet the demands of customers,” recalls Peter. “By then I was employing people, had a factory unit in Balham and had invested in a machine from America capable of printing 50,000 envelopes an hour, the first of eight such machines.”

He goes on: “Come the 1990’s the business was employing around 35 people, margins were obscene and through sheer hard work and reliability we were recognised as capable of turning orders round in a hurry, which was something of an understatement. We became the market leaders, printing some 15 Million envelopes each month. I never borrowed any money, it was all achieved on cash flow and retained profits.”

It was in 2000 that Peter, at the age of 53, decided enough was enough and sold the business for what he describes as a figure ‘in millions’. “I was lucky, I was in the right place at the right time, it all just exploded when direct mail took off. But now it just wasn’t fun anymore.

“I got out before the internet took a hold and sold it to a Dutch envelope manufacturer and supplier. My mind was made up when one female employee who I had sacked for striking another female employee took me to an Industrial Tribunal and I lost. I enjoyed the buying and selling but when you employ 35 people you get caught up with personnel issues which I didn’t enjoy.

“I didn’t really want to work again,” confesses Peter, who was born in Basingstoke but whose childhood years had been “very traumatic”.

He was only a five-year-old when he and his brother and sister were orphaned when his parents were among the 52 passengers killed when an Air France plane crashed when taking off from Nice.

Along with his brother and sister he was brought up by his maternal grandparents. He admits he was taken out of school for a year on the grounds of being badly behaved. “I was probably disturbed,” observes Peter, who then became a pupil at Reed’s School, founded in 1813 as The London Orphan Asylum to “assist orphan children;” a school of which Peter was later to become a trustee and governor. From there he went to Birmingham University, leaving with a Bachelor of Commerce degree.

“I always wanted to go into business,” he admits with a laugh. “I got a job at Shell International and was one of 12 graduate trainees taken on out of 5,000 applicants. I suppose I was somewhat withdrawn, pretty self-sufficient and maybe a bit geeky. After six months training in

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entrepreneur - Peter verstage

“It’s a case of following the wind, according to the time of year. I worked very hard to enjoy the good life”

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Europe I then did three years in South America working for Shell in sales and marketing.

“Yes, I was ambitious and wanted to do well but I then looked at those who worked at the top, all doing long hours but while perhaps drinking wine at every meal not necessarily getting to driving a Rolls Royce. I could also see that developing countries in South America were replacing ex-patriots with home grown talent and I didn’t want to be without a job at 35 as a South American oil marketing expert.

He joined Court Line and was assistant to the managing director on the company’s leisure side but after nine months decided to travel which took him on a long journey across the countries of South America.

Peter, at the age of 22, had already faced yet another family tragedy when his “big brother” died of cancer aged 33.

While he has never married Peter, still something of a Lothario with his urbane manner and style, is never short of female company and romances. At a recent party for more than 100 guests at the Reform Club in London to celebrate his 70th birthday a number of ex girlfriends were among the guests. “I like women who are amusing and have personality.”

Of marriage he says: “I just never made the commitment. I think I would be quite difficult to live with. The important ones in my life have all stayed friends.”

Many of his female companions share his love of kite surfing which, after a passion for wind surfing, he took up eight years ago, It’s an activity which regularly takes him to locations such as Barbados, Brazil and Dakhla where the water is warm and the wind constant.

“It’s a case of following the wind, according to the time of year. I worked very hard to enjoy the good life,” he says and it’s a lifestyle he has no plans to give up with more kite surfing over the next decade along with a growing interest in ballet which has already taken him to an international event in Cuba.

Home, however, is very much the Isle of Man with an apartment with sweeping views over Douglas Bay. “I love the island, it’s always great to come back and I spend more time in the island than I do travelling.

He is also what they call in the trade an umbraphile, having been to all the major total eclipses of the Sun since 2001 when he saw his first one in Zambia. “I’ve since been to Libya, Easter Island, New Caledonia and Shanghai. I was in Ternate, Indonesia last March and will be in Oregon on the 21 August this year. A great excuse to travel to places you wouldn’t otherwise see, and you keep bumping into a lot of the same people!”

Peter Verstage, something of a buccaneer of yesteryear and now a man for all seasons.

ON THE AGENDA...

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recharge - london

WORDS Tamarin Marriott-Wilkinson

Schrager ‘the daddy of designer hotels’ has joined forces with ‘Marriott’ to give the boutique hotel experience a new lease of life.

The outcome – another jewel in Fitzsrovia’s already remarkable crown. Agenda were lucky enough to recharge at the hotel…

Celebrity hotelier Ian Schrager is renowned for design lead, service light establishments and this 5-star hotel is a beguiling mix of traditional and contemporary styles – complete with an unrivalled location – just moments away from a handful of fashion’s most coveted labels, London’s most iconic attractions and every cuisine imaginable. Brimming with art, culture, shopping and dining, the Edition’s bohemian neighbourhood only adds to this hotel’s unique charm.

The establishment is every bit as alluring from the outside as it is on the inside. Doormen rush to welcome the fashionable crowd through the eloquent doorway, which encases a magnificent lobby bar complete with sky-high, stuccoed ceiling, stainless steel orb, billiard tables and roaring fire. To the right is Berner’s Tavern, an equally aesthetic space,

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with loft-like ceilings and walls flaunting no fewer than 185 artworks, all peering out from antique-style frames. It comes as little surprise that The London Edition’s restaurant was bestowed with the ELLE Decoration Award for Best British Interior in 2014.

The food – which is every bit as enticing as the décor, owes itself to Jason Atherton – the culinary connoisseur behind the Michelin-starred Pollen Street Social. Dining here is a real occasion and the menu swanks an edgy twist on traditional British cuisine, consisting of produce sourced solely in the UK. After dinner drinks are a must and the wellstocked bar plays host to an encyclopaedic menu of must-try cocktails. Tempt your tastebuds with the likes of a ‘Late British Shake Off ’, ‘Vintage Vesper’, ‘Aging Hipster’ or ‘Blood and Smoke’ concoction.

And it doesn’t end there, downstairs, the basement boasts a ‘Studio 54’ style get-up, where DJ’s dish out a series of bouncing beats, guaranteed to bring on the Saturday night fever.

When you can dance no more, simply retire to your lavishly styled suite.

Blending a sense of the past with a style of today, bedrooms play second string to social spaces. Cosy, sophisticated and inundated with natural light, rooms are decked out with oak floors and walnut panelling, and exude an elegance more suited to a super yacht than that of a city-central hotel. From the desk, which appears cantilevered of the walls, to the luxurious linens, the artfully strewn faux fur throws, soft, inviting shades and tufted George Smith lounge chairs – the designer décor sets a new standard for luxury hotels in London. Select rooms, including the Penthouse suite, offer oversized terraces with fantastic city views, lounge chairs and cast-iron bistro tables. Returning back to our room after a successful shopping trip, a welcome

ON THE AGENDA...

“DOORMEN RUSH TO WELCOME THE FASHIONABLE CROWD THROUGH THE ELOQUENT DOORWAY, WHICH ENCASES A MAGNIFICENT LOBBY BAR COMPLETE WITH SKY-HIGH, STUCCOED CEILING, STAINLESS STEEL ORB, BILLIARD TABLES AND ROARING FIRE”

note and two Elderflower and Gin Cocktails awaited our arrival, both served in chilled glass bottles, freshly made by the Lobby Bar’s Mixologist Matteo – a muchappreciated touch that shows the London Edition is very much about a personal service.

Breakfast in Berner’s Tavern is every bit as enjoyable as dinner and if you fancy a lie in, you needn’t worry as last orders conclude at 12pm. Our plates arrive brimming with Severne & Wye Cured Smoked Salmon and Scrambled Eggs, with lashings of buttery spinach. Additional offerings include moreish Hazelnut Waffles, Avocado on Toast, Crispy Middle White Back Bacon Sourdough Sandwiches and melt-in-the-mouth Buttermilk Pancakes – washed down with freshly made juices. The Curly Kale, Apple, Cucumber and Lime concoction is a guaranteed pick-me-up! With dishes on par with the surroundings, it’s no wonder this establishment has been dubbed the ‘new gathering place for all day dining and entertaining’.

CONNECTING BUSINESSES

Once inside the realms of The London Edition, you’ll find it difficult to leave – and with groundbreaking innovative design, outstanding dining, on-tap entertainment and a personal, friendly modern service – you’ll find little reason to want too.

10 BERNERS STREET, LONDON, W1T 3NP, UNITED KINGDOM Rates from £270 PHONE +44 020 7781 0000 www.editionhotels.com

Getting here: Fly British Airways direct to London City Airport, hop on the DLR to Central London (leaves every 15 minutes) and take the Central Line to Oxford Circus. Berner’s Street is a 6-minute walk from the station. Alternatively, you can book a private car from the airport in advance by calling the Hotel Concierge. If you’re hiring a car, parking is a 3-5 minute walk from the establishment and costs £10-15 per night.

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recharge - spend it on...

The Ferrari 812 Superfast

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errari has revealed its replacement for the F12 grand tourer which will be on show at the Geneva Motor Show 9-19 March.

The 812 Superfast will get an updated aesthetic, as well as a new 6.5-litre V12 with 789bhp, permitting a 0-60mph time of 2.7 seconds and a top speed in excess of 211mph.

This is aided by the new dual-clutch automatic transmission, which has specific gear ratios and quicker gear changes to match the car’s sharpened throttle response.

As well as providing vast quantities of power, Ferrari also says the car offers “unparalleled handling and road-holding”.

It is the first Ferrari to get electric power steering, which integrates all the car’s electronic driver aids, including the latest version of Ferrari’s Side Slip Control system.

In addition, the car is fitted with rearwheel steering to improve agility, while the bodywork has been specially styled with aerodynamics in mind. At the front, the 812 gets active flaps on the underbody,

while the rear flanks are adorned with an aerodynamic by-pass to increase downforce.

Ferrari claims the cabin is sportier than before, with a flat, horizontal architecture and new sports seats. There’s also a new steering wheel and instrument cluster, as well as the latest air conditioning and infotainment systems.

Price TBD £250,000 +

Spend it on...

Lamborghini Aventador

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he original Aventador was launched in 2011, and so it’s high time that it received some attention to bring it up to date - which brings us to this, the Aventador S. The original car was one of the most successful models ever made

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by the Italian supercar maker, so the new 730bhp Aventador S has a huge amount of weight upon its shoulders.

However, it’s now armed with fourwheel steering, as well as uprated software, which should make it even sharper to drive than the previous generation. It also gains ‘Ego’ mode, which gives the ability to split

the separate driving modes to suit the individual and makes it easier to set up the car just as you’d like it.

The Aventador S retains that original car’s iconic 6.5-litre naturally aspirated V12. It puts out a staggering 730bhp - 40bhp more than before - as well as 690Nm of torque. This is sent to the road through all four wheels via a single-clutch automatic gearbox. It’ll reach 60mph in just 2.7 seconds, and continue ferociously accelerating until it hits a top speed of 217mph.

Price £270,000 ON THE AGENDA...

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WE ARE SAD TO SAY THAT FROM THE 5TH FEBRUARY WILKINS THE JEWELLERS WILL BE CLOSING THE DOORS FOR THE LAST TIME, BUT WE ARE EXCITED TO ANNOUNCE THAT WE WILL BE LAUNCHING ONLINE LATER THIS YEAR. WE WOULD LIKE TO TAKE THIS OPPORTUNITY TO THANK ALL OF THE CUSTOMERS WHO HAVE SHOPPED WITH US OVER THE YEARS.

Opening Hours: Monday - Saturday 10.00am - 5.00pm Sunday - 11.00am -5pm Leonard Dews Jewellers, 18 Church Street, Blackpool FY1 1EW www.leonarddews.co.uk