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ISLE OF MAN

ISSUE 140

THE INTERNATIONAL BUSINESS MAGAZINE OF THE ISLE OF MAN

Time for a change... Hamblin Employment Group celebrates move to new premises

Where discretion is key


MANX TELECOM


MANX TELECOM


He tried his best to make her happy but what she really wanted was the 4x4 she read about in Manx MotorMart

MMM MotorMart MANX

The Isle of Man’s New and Used Car Magazine


CONTENTS DEPARTMENTS

News

Government

Features

Motoring

The latest Initiatives, Expert market Reports on the developments proposals and commentaries latest cars, plus from some of the legislation from from leading surveys and Isle of Man’s the Isle of Man professionals findings in the leading Government’s key within the Island’s global car organisations Departments private sector industry

Appointments

Directory

A comprehensive Airline timetables, round-up of key a comprehensive specialist and Isle of Man professional Business appointments Directory plus Island-wide Island info & stats

Lifestyle Popular features including ‘A Week in the Life’; ‘Q&A’ plus local events and a UK  Gig Guide

SPOTLIGHT

Plan for Isle of Man’s economic future launched

exploring offshore wind and tidal energy opportunities

Page 22

Page 28

Insuring against Hamblin: “Your Cyber Security: Prepare for business risk: future career is the need to build launch: surviving the fall no-one’s business confidence in Jaguar’s new XK but ours” your digital future special editions Page 32

Page 34

Page 36

Page 42

New exhibition commemorates 100th anniversary of WW1 Page 66

PRODUCTION, CONTACT ADVERTISING: Sarah Klaffenböck T: 01624 623527 M: 07624 481189 E: advertising@manx.net EDITORIAL: Keith Uren T: 01624 611100 M: 07624 498740 E: portfolio@manx.net

Isle of Man Portfolio magazine is published monthly and is delivered to every private and public sector business in the Isle of Man by the Isle of Man Post Office. The magazine is freely available from a dispenser situated in the Departure Lounge of Isle of Man Airport, and in the Rendezvous Executive Lounge. Financial institutions and Government Departments take copies for circulation among their clients. The magazine is also taken by several leading Isle of Man hotels for their guests. Isle of Man Portfolio is also individually mailed to senior professionals retained on the magazine’s database. Isle of Man Portfolio magazine is designed and published by Keith Uren Keith Uren Publishing | 12 Manor Lane | Douglas | Isle of Man | IM2 2NX T: 01624 611100 | M: 07624 498740 | E: portfolio@manx.net

© 2014 Keith Uren Publishing Ltd

ISLE OF MAN

ISSUE 140

PORTFOLIO


ISLE OF MAN

News Island to host CSPOC plenary JCC event focuses on recovery Appleby hat-trick at Citywealth awards Microgaming signs up to ‘Jurassic Park’ Advice on financial reporting published Standard Bank’s eGaming event AKG eyes RL360° buyout positively Sure results exceed expectations IOMA launches ‘Pound a Day Portfolio’ PwC hosts breakfast briefing Sure’s 4G agreement with Huawei


News

|

Government

|

Features

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Cars

Island to host CSPOC plenary

|

Directory

|

Appointments

been afforded the honour. Importantly, CSPOC

2018

presents

a

unique

opportunity to showcase the Island and the Manx parliamentary system to the world. I look forward to joining with Madam President and Members of Tynwald in welcoming Speakers and

Speaker Steve Rodan SHK and the Clerk of Tynwald Roger Phillips are pictured in the Great Hall of the New Zealand Parliament

Presiding

Officers

of

the

Commonwealth ‘family’ to our shores to

T

R 12 R

JCC event focuses on recovery

T

he first event in the JCC’s calendar was kicked off with a presentation from Ramsey

Crookall. The presentation evening

deepen the lasting relationships the

provided

CSPOC plenary encourages.”

professionals

Mr Rodan also expressed his

2018 Conference of Speakers

Lifestyle

further the valuable discussions and

gratitude

he Isle of Man is to host the

|

to

the

New

an

opportunity to

for

learn

about

investment markets.

Zealand

Peter

Robertson,

senior

Parliament for having arranged a

investment

stimulating and rewarding programme,

Crookall presented to the local

which

reconnecting

business community by investigating

parliaments with the public and

the impact of QE on the economic

parliamentary privilege.

recovery and main asset classes. He

In

focused

a

on

workshop

themed

manager

at

Ramsey

also provided views on some other

and Presiding Officers of the

‘Parliamentary Privilege - protecting the

themes

Commonwealth (CSPOC), the Speaker

effective functioning of democracies’

investment markets in 2014.

of the House of Keys, the Steve Rodan

delegates heard Mr Speaker expand on

SHK, has confirmed after returning

a paper he had delivered which looked

committee for inviting me to present

from the 22nd CPSOC plenary in

at the subject from a small jurisdiction’s

to its members and non-members,”

Wellington, New Zealand.

perspective. He told his audience: “The

said Peter. “I hope my presentation

More than 50 Commonwealth

concerns about privilege in the Isle of

gave some insight in to the wide

Speakers and presiding officers were

Man mirror to a great extent those

range of issues and themes that might

among the 180 delegates who attended

expressed in other jurisdictions. The

impact the investment markets in the

the

Wellington’s

Isle of Man’s law is special, however, in

coming year and that it was an

Parliament Buildings between January

that the Bill of Rights 1689 does not

enjoyable evening for everyone who

21st and 24th hosted by the Speaker of

apply, so the courts can interfere in

attended.’’

the House of Representatives, the Rt

decisions of Tynwald,” adding: “Perhaps

Hon David Carter.

the Isle of Man is an example of what

interesting,”

Mr Rodan, who was accompanied

the future holds for jurisdictions which,

chairman of the JCC. “I felt it gave

by the Clerk of Tynwald Roger Phillips,

up to now, have avoided interference by

professionals a really good insight

said: “I am pleased that the conference

the courts in parliamentary affairs.”

into Investment Markets – a topic not

conference

at

“I’d

that like

might to

impact

thank

the

on JCC

“Peter’s presentation was very said

Owen

Cutajar,

accepted the offer extended by Madam

Mr Rodan went on to suggest that

often discussed at smaller events. It’s

President and me to hold the 2018

‘privilege’ might be an ‘unfortunate’

been an absolute pleasure to work

CSPOC plenary in the Isle of Man.

word in a modern context. He said:

with Ramsey Crookall and I’d like to

“I am delighted that the conference

“‘Rights of Parliament’ would be better,

say a big thank you to them for their

has entrusted the Isle of Man to host this

as it is all about the rights of the people’s

support. Our next event is the Budget

prestigious biennial event in 2018, the

representatives to carry out their

Breakfast; please get in touch if you’d

first time a nation as small as ours has

functions.”

like to find out more.”

MEET THE TEAM . . . Gill Hellowell, Finance Director and Company Secretary, Strand Group Gill joined the business in 1989 and celebrates 25 years with the company this year. She has seen the business grow from just a few employees working in commercial cleaning and window cleaning, to the diverse organisation that it is today. Primarily working in finance and accounting Gill has been involved in the development of the facilities management and the secure document storage and destruction aspects of the business with Strand Facilities Services and Storall. Following the Group’s acquisition of Krypton Contract Cleaning in 2011, she added accounts control of that business to her role. Gill spent several years working for the Inland Revenue in the UK, before moving into the private sector where she, alongside John Hellowell, built a successful manufacturing business. Gill now works part time. Outside of the office Gill is a Scout Leader and enjoys horse riding and walking her two dogs.

Strand Group Ltd, 28-30 Spring Valley Industrial Estate, Braddan, Isle of Man, IM2 2QS

Telephone 663913 • www.strandgroup.im ISLE OF MAN

PORTFOLIO

ISSUE 140


News

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Government

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Features

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Cars

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Directory

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Appointments

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Lifestyle

Appleby hat-trick at Citywealth Awards experience of working with advisors in

Centre Awards 2014. The hat-trick of awards were

all the jurisdictions covered. The

accepted by Appleby (Isle of Man) LLC

winners have been selected for their

partners, Sean Dowling and Simon

excellence in innovation, expertise

Cain at a presentation dinner held at

and service. Commenting on the awards, Sean

the Grange City Hotel in London on

Dowling, Managing Partner at Appleby

Thursday 23 January 2014.

Presenter Kim Morgan with Sean Dowling (Managing Partner, Appleby (Isle of Man) LLC) and host, Rory Bremner.

Now in their third year, the

(Isle of Man) LLC said: “We are

Citywealth International Financial

honoured that Citywealth continues to

Centre Awards were established to

recognise the strength in depth and

highlight

the

quality of our work in the Isle of Man.

ppleby has been awarded

advisors and managers in the private

Winning such a prestigious award is

‘Caribbean Law Firm of the

wealth

major

testament to the innovation, expertise

Year’ and ‘Isle of Man Law

international financial centres. These

and commitment of our team and

Firm of the Year’ and ‘Isle of Man Trust

awards

an

reinforces our position as a leading

Company of the Year’ at the prestigious

international panel of highly respected

provider of legal and fiduciary services

Citywealth International Financial

practitioners from all sectors with

in the Isle of Man.“

A

the

excellence

sector were

in

of

the

judged

by

Microgaming signs up to Jurassic Park

M

R 14 R

imaginative gaming experiences to

icrogaming has signed a

3D re-release of the original in 2013.

licensing agreement with

The license includes this classic

the end player. The Jurassic Park

Universal Partnerships &

collection of films.

brand is legendary, and our game

Licensing to produce online slot

Now, fans of Jurassic Park can also

development team is busy creating an

games centred on one of the biggest

look forward to reliving the adventure

all-mighty slot for release later in the

film trilogies in motion picture

with an online slot game coming

history, Jurassic Park. Released

in

ways-to-win game with five

1993,

Jurassic Park became an

different free spin modes

instant

phenomenon.

depending on the DNA

Academy

analysis of the dinosaur

Featuring

Award®-winning

year.”

this summer. It will be a 243

randomly selected.

visual

Roger Raatgever, CEO

effects and ground-breaking

of Microgaming, comments:

filmmaking, this epic film is sheer movie-making magic that was

“Jurassic Park is a seminal movie -

Go Western

F

reedom Travel has announced a new contract agreement with The Western Union Company,

giving the company the opportunity on the Isle of Man to offer Western Union’s money transfer services.

65 million years in the making. The

its

popularity of Jurassic Park led to a

computer-generated imagery set a

network of 515,000 agent locations

second and third installment released

new benchmark in the industry. It’s a

operating in more than 200 countries

in 1997, The Lost World: Jurassic Park

film that we can draw parallels from

providing customers with fast, reliable

III

in terms of our game creation and our

and convenient ways to send and

respectively, as well as a successful

aim to deliver the most visionary and

receive money around the world.

and

2001,

Jurassic

Park

stunning

visual

effects

and

Western

Union

has

a

global

MEET THE TEAM . . . Dave Rourke, Operations Director, Strand Facilities Services Ltd Dave overseas day-to-day operations of Strand Group’s facilities management business, Strand Facilities Services. He manages a large team operating across a diverse range of customer requirements from cleaning to property management. With many large corporates including several Banks using the facilities management services, Dave also ensures everything operates to ISO27001 quality standards which are primarily concerned with security and confidentiality. The company has held the quality standard for five years and is the only company in its sector on the Isle of Man to have achieved it. Dave joined Strand Group in 2008 from Abbey National Offshore where he managed the company’s property portfolio in both the Isle of Man and Jersey. He was previously with Barclays Bank and has over 12 years experience in facilities management. Outside of work, Dave plays rhythm guitar and enjoys regular gigs with a local band.

Strand Group Ltd, 28-30 Spring Valley Industrial Estate, Braddan, Isle of Man, IM2 2QS

Telephone 663913 • www.strandgroup.im ISLE OF MAN

PORTFOLIO

ISSUE 140


News

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Government

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Features

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Cars

Advice on Financial Reporting

|

Directory

|

Appointments

It is important to note that where a

and amendments made to existing

change is not yet mandatorily effective

ones, giving brief descriptions of each.

for a particular year end, it may still be

“It has been full updated to include

possible for an entity to adopt it early,

changes to International Financial

depending on local legislation and the

Reporting

requirements of the particular change

Standards

published

in concern. “The table of contents lists all the

November 2013 and now covers 31 30

changes covered in the publication,

September 2013, 31 December 2013

their effective dates, and the page in

and 31 March 2014 financial year-

the

ends.”

appropriate summary can be found.

March

G

Lifestyle

Interpretations that have been issued

between 1 December 2012 and 30

Grant Thornton Isle of Man partner Richard Ratcliffe

|

2013,

30

June

2013,

publication

on

which

the

He added: “It is simple to use and

“For each change covered in the

is designed to help entities planning for

publication, we have included a box on

a specific financial reporting year end

its commercial implications. These

identify changes mandatorily effective

sections focus on the questions how

for the first time, changes not yet

many entities will be affected and what

effective and changes already in effect.

will be the impact on affected entities?”

rant Thornton has published a 40-page briefing document outlining the latest changes to

International

Financial

Café Culture furniture

Reporting

Standards. The paper, Navigating the

changes

International Reporting

R 16 R

to

Financial

Standards:

a

briefing for Chief Financial Officers,

has

been

prepared by the Grant Thornton Inter-national Ltd IFRS Team and is

D

ouglas based ecommerce business CuppaCo.com has launched its Café Culture furniture range as it expands into a new industry. Working in partnership with leading manufacturers, the Manx tea

and coffee retailer is now able to cater to its ever growing customer base with a

available to all CFOs. Richard Ratcliffe, a

curated, versatile range of made to order furniture.

Grant

Counting the BBC, NHS and Scottish Power amongst its returning customers

Thornton Isle of Man, said it is an

as well as providing local consumers on the island with a fast, affordable tea and

invaluable tool for anyone involved in

coffee product range, the launch of furniture on the website marks the beginning

international business.

of a strategic expansion plan for 2014.

partner

at

He explained: “The publication is

Head of Product Performance and Development at CuppaCo.com, Laura

designed to give Chief Financial

Daly, said, “Taking the leap from tea and coffee to tables and chairs was a natural

Officers a high-level awareness of

progression for us because our customers mainly sit in the hospitality arena.

affect

Bridging the gap between coffee supplies and furniture is a move welcomed

companies’ future financial reporting. It

by our customers and we can’t wait to offer affordable, staple and eye-catching

covers

design-led pieces to our Manx clients.”

recent

changes both

that

new

will

Standards

and

Cleaning Services

Facilities Services

All aspects of commercial cleaning, from Office and retail cleaning to school and washroom. Carpets cleaned, windows cleaned (including high-level), IT and computer cleaning.

Caretaking, gutter cleaning, fire safety, high level access up to 83ft, key holding service, painting & decorating, pest control, joinery & handyman services, pressure washing, appliance testing. An ISO27001 accredited company.

Touching your everyday life 28-30 Spring Valley Industrial Estate, Braddan, Isle of Man, IM2 2QS

Telephone 663913 • www.strandgroup.im ISLE OF MAN

PORTFOLIO

ISSUE 140

PART OF THE STRAND GROUP OF COMPANIES


News

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Government

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Features

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Cars

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Directory

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Appointments

|

Lifestyle

Standard Bank kicks off this year’s eGaming Social Calendar

Kelly Nicol (Domicilium), Elissa Morris (Domicilium), Kate Reynolds (SMP Partners) and David Artus (Domicilium)

O

ver 75 guests joined Standard Bank

on

Thursday

23rd

January to celebrate the first of

Commenting on the evening’s

community spirit. This is fundamentally

of

a social industry and the eClub is the

Corporate and Business Banking, Isle of

perfect reflection of what makes it

success,

Ian

Hamilton,

Head

Man, said: “The Island’s eGaming sector

prosper.”

Held at Bar George in Douglas,

is renowned the world over for the

For regular updates and to get

guests were treated to a rousing and

strength of its relationships and quality

involved in the eClub, visit:

well received live music session from

of its products and services, and I think

www.facebook.com/IsleofManeClub

local outfit The Chris Winchester Band.

this can be attributed in large part to its

or join the group ‘Isle of Man eClub’

AKG eyes RL360° buyout positively

RL360°’s ownership has been the

deal is interesting given the investment

retention of existing senior manage-

of all the senior management and the

ment, led by Chief Executive David

retained consideration of RLG and is

Kneeshaw, all of whom have significant

innovative in terms of the arrangement

experience

the

made with Munich Re to provide new

operation. Indeed the final buy-in of the

business support via a quota share

senior management is an important

arrangement.”

the year’s eClub parties.

and

time

within

element of the new ownership persona.

It continued: “Financial strength

further

remains good and the presence of the

the recent management-led

strengthened through support from the

quota share agreement with Munich

buyout of RL360°.

global reinsurance group Munich Re, as

Re supports liquidity and should

In November last year, the Royal

well as an element of long term

mitigate any question over the ability

London Group (RLG) entered into an

financing from RLG, and in addition to

of RL360° to support new business at

agreement with funds advised by

capital from Vitruvian. AKG noted that

or even excess of plan.”

independent private equity firm Vitruvian

the Munich Re arrangement provided

In addition, AKG note also that

Partners to support a management-led

“certainty that new business can be

there exists access to additional

buyout of Royal London 360° for an

supported for a time horizon of several

capital to enable RL360° to seek

undisclosed sum. As a result, the

years”. It also pointed out that such a deal

additional acquisitions and develop-

company was rebranded RL360°.

demonstrated MunichRe’s confidence in

ment opportunities.

A

KG has reacted favourably to

In a note issued following the ownership change, AKG referred to

The

sale

saw

RL360°

AKG Actuaries and Consultants Ltd

and commitment to RL360°. In

its

note,

AKG

said:

specialise in the provision of ratings,

strong

“Operationally the change is positive

information and market assistance to

standalone operation with very strong

with the existing infrastructure and

the financial services industry. The

operational

organisation

together

company’s reports are designed to

with the close alignment of ownership

provide advisers the information they

to business objective and culture.

need to assess the relative strengths of

RL360°

as

“a

financially

characteristics

and

positive development potential”. AKG’s note also made reference to the fact that notable in the change in

maintained

R 17 R

“The financing composition of the

RL360° Principal Directors Mike Crellin, David Kneeshaw and Simon Pack

offshore long term insurers. ISLE OF MAN

ISSUE 140

PORTFOLIO


News

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Government

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Features

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Directory

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Appointments

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Lifestyle

Sure results exceed expectations

S

ure exceeded expectations in

acquisition has had a very positive impact

with the smooth transition to becoming

2013 in terms of both revenue

on the Group’s performance.” This

part of Batelco Group.

and customer growth, according

impact has seen the group achieve 18%

“2013 was a momentous year for

year-on-year growth and an increase in

Sure as we became part of Batelco

its subscriber base to 9 million.

Group. These financial results show

to its parent company, Batelco Group. In its financial results for 2013, Batelco said that increased roaming and

The report also confirmed that

that Sure continues to excel and deliver

improved handset sales had ensured

Batelco continues to invest in the Isle of

services that our customers enjoy and

that Sure’s revenues were 3% above

Man and, this year, is looking forward to

value highly. We are committed to

forecast in the final quarter.

introducing 4G mobile services.

leading the way for telecommunications

Furthermore, revenues on a ‘like for

“Among our plans in 2014 is the roll

services in the Isle of Man, and the

like’ basis saw 3% overall growth in

out of superfast 4G LTE for four of our

introduction of 4G/LTE this year will

mobile services, 11% growth on

new operations, including Sure in the

see our customers enjoying some of the

broadband & TV Services and 57%

Isle of Man,” said Batelco Chairman

fastest

growth on wholesale revenues across

Sheikh Hamad Bin Abdulla Al Khalifa.

available.

the Isle of Man and the Channel Islands.

“This is in line with our strategy to

“I am grateful to my colleagues for

The purchase of Sure and other

extend our expertise across our entire

working so hard to continually exceed

companies has been welcomed as a great

Group to deliver greater benefits for our

our customers’ expectations and for

success by Batelco, with the report stating

customers wherever they may live.”

ensuring that the transition to new

that “Batelco Group is very pleased with

Andy Bridson, Chief Executive of

its purchase and, as anticipated, the

Sure in the Isle of Man has been pleased

mobile

broadband

speeds

ownership has been both smooth and very successful.”

IOMA launches ‘Pound a Day Portfolio’ Paul Crocker, Russell Collister and Mary Tait

R 18 R

I

OMA Group, specialist providers of

with the overriding consideration that

Senior Investment Manager who joined

services to the insurance and

each company must have an unbroken

IOMA in January 2010 and specialises

wealth management industries,

track record of dividend increases for at

in the management of private client and

least 15 years.

fiduciary investment mandates. All

has announced the launch of its

• Selective Growth: This portfolio

three are individually chartered Fellows

comprises of 14 UK companies that

of the Chartered Institute for Securities

This service has been developed as

have accumulated more than seven

and Investment and Chartered Wealth

the ideal investment platform for

years of uninterrupted dividend growth

Managers.

investors with a minimum of £25,000 to

and must belong to the FTSE250 at the

invest with a management fee of just £1

time of selection.

innovative ‘Pound a Day Portfolio’ service.

a day, or £365 for the year.

ISSUE 140

Investment

The investment managers for the

Group, says: “We have developed this low cost, RDR friendly investment

Investment Director who has over 26

product aimed at DIY investors who are

• Collective: A diverse portfolio that

years of experience in the investment

looking for an online product that is

invests into eight carefully selected

management industry and was a

easy to use. More investors are looking

investment funds; these funds have

founder of IOMA Fund and Investment

online for ways to save and with our

been chosen for their diversity, quality

Management; Paul Crocker, Investment

complete charging transparency and

and liquidity.

Director who has worked at the IOMA

unique charging structure, we aim to

• Selective: This portfolio invests

for the last six years having moved to

provide a diverse and interactive

into a dozen high quality UK equities,

the Isle of Man in 1991; and, Mary Tait,

service.”

Day portfolios:

ISLE OF MAN

Collister,

Collister,

There are three types of Pound a

PORTFOLIO

Russell

Management Director at the IOMA

portfolios

are:

Russell


News

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Government

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Features

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Cars

PwC host Breakfast Briefing

Lifestyle

Sharpe’s explanation of the latest tax

the FRC’s UK Corporate Governance

developments.

Code, which, among other measures,

imminent arrival of FATCA, and the

He

sets new standards for the content of

need to be ready ahead of the 1 July

annual reports. It places an onus on

2014,

company directors to ensure and

‘pandemic’

affirm that the annual report is ‘fair,

agreements FATCA has created. In

balanced and understandable’. Nick

addition to the Isle of Man having

explained, with reference to specific

automatic tax exchanges with around

examples, what this would mean for

30 countries in the next three years,

future annual reports, as well as what

businesses should also be prepared for

the recent changes meant for the role

public

of the audit committee. While the

ownership of every company, and

intention is to facilitate engagement

possibly every trust, being introduced.

deadline, of

discussed

as

well

as

the

the

inter-governmental

records

of

the

beneficial

George also expanded on the

proposals do not go far enough, and do

perception that some companies are

not provide the information that

making money without paying their

he latest developments in

engaged investors are asking for.

‘fair share’ in taxation will have. In the

corporate

and

“Investors want auditors - views on

short term multinational corporations

to

outcomes, not just on the audit

could look to base erosion and profit

process.”

sharing, and in the longer term turn to

taxation

reporting were

outlined

her

consolidated corporate tax bases, both

briefing organised by PwC in December

presentation by confirming that UK

of which will impact on offshore

2013.

GAAP as we know it is ending, and

centres.

Wendy

Jessup

opened

outlined the two standards issued by

George said: “It could be very, very

board

the FRC as replacements, FRS 101 and

uncomfortable for the Isle of Man, and

members up to date on governance and

FRS 102. Wendy explained that with

the Island needs to think how to

related matters, heard presentations

adoption set for 1 January 2015, now is

reposition itself.”

from Nick Halsall, PwC Isle of Man

the time to consider the best way

George drew a parallel between the

Assurance Partner, Wendy Jessup, PwC

forward. The differences between the

failure of state socialist economics in

Isle of Man Assurance Senior Manager,

alternatives were discussed, with a

the 1980’s and the challenges facing

and George Sharpe, PwC Isle of Man

focused look at FRS 101 and FRS 102.

free market capitalism today. He

Tax Director.

Wendy said that many companies

explained state socialism was replaced

Nick Halsall explained the latest

might opt for FRS 102, unless they are

not by democracy and free markets but

developments in corporate reporting

eligible for FRS 101 or the FRSSE (the

by economic anarchy, where wealth

and assurance matters, focusing on

accounting framework for smaller

and power gravitated to the strong and

corporate governance requirements for

companies) depending on the facts and

greedy. George warned that not

Isle of Man companies. His presentation

circumstances

company.

confronting the challenges facing us

also included recent developments

However, she warned board members

today, and ensuring that capitalism

affecting UK companies including the

must consider that FRS 101 and 102

evolves to meet the aspirations of

new strategic report, changes to the

will bring accounting and disclosure

ordinary people, would be a mistake.

reporting of directors’ remuneration

changes,

a

“Perhaps rising to the challenge of

and the introduction of a number of

company’s tax and distributable profits.

dealing with this issue is the best way

commitment

to

keeping

new disclosure requirements.

Sure’s 4G agreement with Huawei

and

of

it

the

may

impact

The briefing closed with George

forward for all of us,” he concluded.

Andy Bridson, CEO of Sure Isle of

commitment to the Isle of Man to

Man, said, “We want to make sure

ensure its position as a key player in

that our island is at the forefront of

the world markets.”

and

Cyrille Joffre, Chief Technology

ensuring we have a network that

Officer of Sure, added, “Huawei is a

communications

technology

delivers 4G/LTE speeds, coverage

leading

ure has entered into a letter of

and resilience is core to that.As we

communications

intent with Huawei Tech-

roll out the new network throughout

solutions provider, with the technical

nologies to build a new 4G

this year, our customers will notice a

expertise

network in the Isle of Man and to

significant improvement in their

implement

a

cutting

upgrade all existing 3G networks. The

mobile voice and wireless data

communications

solution

agreement is a precursor to signing a

experience, which we know will be

island.

full contract, which will be in place no

welcomed.”

S

ISSUE 140

|

legislative and regulatory impact the

The briefing, part of PwC’s ongoing

PORTFOLIO

Appointments

Nick said PwC’s view is that the FRC

board members at a special breakfast

ISLE OF MAN

|

between investors and companies,

leading Isle of Man non-executive

R 20 R

Directory

A significant area of discussion was

Nick Halsall, Partner, Wendy Jessup, Senior Manager, George Sharpe, Tax Director

T

|

global

and

information

and

technology experience

to edge

in

our

“Their proven track record in

later than 28th February. The delivery

“In addition, this multi-million

delivering 4G/LTE solutions across

of the 4G/LTE network is targeted for

pound investment into our island‘s

the world is reassuring as we enter

the Isle of Man by July 2014.

infrastructure

into a project of this scale.”

underpins

our


ISLE OF MAN

Government Vision2020: Plan for Isle of Man’s economic future launched Chief Minister’s ‘State of the Nation’ Statutory Boards to merge Island’s closer working relationship with the UK Shared services programme continues as key cost saving measure Isle of Man Funds Association plans busy 2014 programme The next step exploring offshore wind and tidal energy opportunities


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Lifestyle

Plan for Isle of Man’s economic future launched: Economy can grow by 3% to 4% each year to 2020, with e-Business sector being key source of growth

T

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economy

of Man’s economic future,

international

for

that Vision2020 sets out a compelling

Vision2020,

launched

leadership on global issues. However,

vision for a successful economic

with an event organised by the

this in itself is not a guarantee of

future and builds on the plans set out

Department

future

global

in the Government’s ‘Discover the

Development for the local business

environment is more challenging and

Agenda for Change in Our Economy’

community.

competitive than it has ever been. As

document, which was published last

a result, our economy will continue to

year.

was

of

Economic

Chief Minister Hon Allan Bell

success.

ISSUE 140

The

“The overall vision includes eight

commented: “We can be justifiably

have a clear economic vision for how

strategies

proud of our economic performance

our community can continue to

economy. Taken together, we are

over the past 30 years. Government

prosper underpinned by specific

forecasting growth of 3% to 4% each

and the private sector have worked

strategies and actions to deliver that

year in real terms to 2020, which is

hard to build a strong, diverse

prosperity. Vision2020 is designed to

substantially higher than the forecasts

fulfil this need. I and all in my

for almost all developed economies.

the

event.

There are also emerging sectors such as energy and biomedical which offer great potential such that our growth rate could be even higher

ISLE OF MAN

growing

change. It is therefore vital that we

opened

in

key

areas

of

our

Government are committed to this

“Financial services will remain

vision as we work to grow our

the largest export-earning part of our

economy for the good of all.”

economy. e-Business will be the

Economic

largest source of growth and generate

Development Hon John Shimmin

hundreds of new jobs. Engineering

MHK presented the overview of

will continue to grow and also

Vision2020 to both Members of

generate hundreds of jobs. There are

Tynwald and separately to business

also emerging sectors such as energy

leaders at the Manx Museum.

He

and biomedical which offer great

commented: “Continued economic

potential such that our growth rate

growth is vital to be able to generate

could be even higher.

Minister

PORTFOLIO

a

reputation

He

MHK

Minister for Economic Development Hon John Shimmin MHK

with

decade. As a result, it is my firm belief

he plan for developing the Isle

for

substantial additional Government

“The delivery of this growth will

income, which will be instrumental in

require ever-greater commitment

funding public services and ensuring

and engagement by Government with

a high standard of living for all, while

the private sector and from our

at the same time helping to maintain

colleagues

our low levels of taxation.

However I am confident that we will

across

Government.

Minister

achieve this and I look forward to

launched the Vision2020 initiative in

updating all stakeholders on an

June last year, my Department has

ongoing basis regarding performance

been working closely with colleagues

of the economy.”

“Since

the

Chief

in Government and the private sector to

review

the

challenges

and

The Vision2020 strategy document can be viewed at:

opportunities facing our economy.

www.whereyoucan.com/vision2020

This has been the most rigorous and

along with a copy of the slides from

comprehensive such initiative for a

the launch event.


FINANCE

VOLATILITY • Continued uncertainty to 2020 • Desire for manufacturing led recovery, but global pressure to replenish fiscal reserves limiting lending • Reduction of traditional offshore market • Need for international security and professional services will remain strong CUSTOMERS • Confidence and expectations are changed forever • Additional regimes to protect the vulnerable will constrain the wealthy with sophisticated needs OPPORTUNITIES • Evolve to meet tomorrow’s needs • Customer focused outcomes • Loss of confidence is also an opportunity for us to provide a safe, transparent, secure and reputable haven for wealth - and clients themselves • Offering the Freedom to Flourish • Build on our existing reputation

TECHNOLOGY

‘Tech Isle’, Capitalising on our number one source of growth • A leading centre for innovative SMEs to relocate and grow • Excellent infrastructure (telecoms, electricity and data hosting) • Supportive financial and professional services • Tax advantages OPPORTUNITIES Businesses employing 10-50 staff Broad related ICT skills Skilled, flexible professionals Starting small, growing fast Niche businesses providing online services ADAPTING TO THE FUTURE • Education and training • Increased online Government transactions • Citizens and business • Data use will grow by a factor of 100 • A leading European data hub • A third self-healing ring better bandwidth and prices • E-gaming will continue to be catalyst

MANUFACTURING

Manufacturing centre of excellence High-tech is high priority in the 2020 world CLUSTERS Following the aerospace model: • Shared knowledge higher • Shared resource value • Shared synergy DIVERSITY • Bespoke bathrooms/kitchens • Thermostatic kettle controls • Super-luxury - watch making • Diving equipment • Body composition monitors ADAPTING TO THE FUTURE • Education and training • Centre of Excellence • Capital investment • Flexible financial partnerships with Government • Competitive infrastructure costs • Tactical inward investment • Develop technology parks

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}

ISLE OF MAN

ISSUE 140

PORTFOLIO


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State of the Nation C hief

Minister

Allan

Bell

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The Chief Minister has highlighted the Isle of Man’s growing reputation on the international stage and the action being taken to address a number of important local challenges.

“The impact of the Vickers Report

example and accept some of the pain

into banking will be hugely significant

that has been felt elsewhere. I can

for the Island and we have been

assure you that we have been working

working with business leaders, the UK

towards creating a leaner, more

Government and the other Crown

efficient and more customer-focused

Dependencies to achieve the best

Government for some time. Over the

possible outcome. We must also be in a

past five years we have cut the number

position to respond to any external

of public sector posts by more than 500.

threats, including the referendum on

And we continue to target further

Scottish independence and the future of

reductions of at least 100 per year.

the UK’s relationship with Europe.” Mr Bell added that whilst this year’s will

confirm

Government

“We have also sought to reduce Government expenditure by containing our

salary

Our

overall

remains on target to rebalance its

employee costs peaked at £316 million

as he delivered the State of the Nation

books by 2015-16, the continued

in 2010-11. This figure fell to £312

speech at the annual conference

pressure on public finances demanded

million in 2013-14, and it will be lower

organised by the Alliance of Isle of Man

a bold and innovative response.

again in 2014-15. Had salaries kept

He said: “I know the private sector

pace with inflation during this period

has looked to Government to lead by

we would now be looking at a bill of

Island’s leadership and positive

£361 million in 2013-14, or £371

engagement with international

million in 2014-15. That’s a

agendas has strengthened our

difference of £50 million in the

position as a cooperative and

current financial year, or at least

forward-thinking member of the

£60 million by next year.” The Chief Minister said his proposals

Mr Bell reflected on the

to

modernise

significant progress achieved

Government,

over the past 12 months in terms

approved by Tynwald Members

of tax transparency and praised

on

the outstanding contribution of

bureaucracy even further and

the

provide

business

community

unanimously

Tuesday, a

would

more

cut

joined-up

partnership

approach to policy and reform

between the public and private

through the creation of a new

sectors as “one of the Island’s

Cabinet Office.

describing

the

He also highlighted the need

greatest strengths.” He

said

growing

for a national debate about the

the

economy remained at the very

provision

heart of his vision and was

services, saying: “The current

essential

to

support

NHS model is unsustainable and

Government’s

other

national

unaffordable in the long term.

priorities of rebalancing public

Similarly, the costs of social care

finances

and maintaining an acceptable

and

protecting

the

But

against

a

Government

present us with huge challenges

positive

– over and above simply rebalancing

backdrop of continued success across many business sectors, the Chief Minister also sounded a note of caution. ‘We have seen some banking and fiduciary businesses rationalising their operations in recent times, resulting in job losses in the Isle of Man. Further cuts are likely as the whole structure of offshore banking undergoes major reform,” he said.

of

level of state retirement pensions

vulnerable.

ISSUE 140

budget.

Budget

global community.

ISLE OF MAN

Lifestyle

the Island’s long-term future

A capacity audience heard how the

PORTFOLIO

|

outlined his vision to ensure

Compliance Professionals.

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|

The impact of the Vickers Report into banking will be hugely significant for the Island. We have been working . . . to achieve the best possible outcome.

our budget.” Mr Bell concluded: “Progress will be achieved by working together and demonstrating

the

enterprise,

innovation and independent spirit that have stood the Isle of Man in good stead for many years. We must continue to be positive, celebrate success and invest in our future with confidence.”


Statutory Boards support merger thus giving birth to ‘Manx Utilities Authority’ t a sitting of Tynwald in

A

Water and Electricity cut off

Cheaper electricity? Merging

the

Manx

Electricity

Authority will result in a cost saving for customers, according to MEA

January, the proposal to

chairman Howard Quayle.

merge the Manx Electricity

Customers will see their bills

Authority (MEA) with the Water &

increase by three per cent as

Sewerage

Authority

(WSA)

was

opposed to the seven per cent

approved.

As

result

both

originally forecast.

a

Authorities will cease to exist on 1 April 2014 and a new entity will be formed – “Manx Utilities Authority”. MEA Chairman, Howard Quayle MHK said, “Both Boards and senior management working

teams

together

Department

of

have

been

with

the

Infrastructure,

Business Change Steering Group, Treasury and other Government departments to ensure that the merger will be undertaken in the most effective and measured way ensuring that costs are kept to a minimum. “All those involved in this work are fully committed to the process. An

integration

plan

has

been

developed which the MEA Board is confident can be delivered, and we are giving our utmost consideration to ensure that there is no disruption to customers and are confident that

R 25 R

this merger will bring about the best possible solution going forward to serve the Island with essential services.

We are confident that this merger will bring about the best possible solution going forward to serve the Island with essential services.

WSA Chairman, John Houghton MHK said, “I acknowledge that whilst there

are

separate

operational

functions of Water, Sewerage and Electricity, there are indeed common systems and services which apply across all activities where savings can be made.

The merger will

secure the MEA debt position for the benefit of the Island’s economic development and the community as a whole.” Both Chairmen have made a commitment to both workforces to keep teams fully informed during the process, as they remain critical to ensuring a successful integration and realising many of the identified savings.

Closer relations with UK

C

hief Minister Allan Bell MHK

McNally at the MOJ. We look forward

has welcomed improvements

to that continuing with Lord McNally’s

in

successor Lord Faulks.”

the

Island’s

working

relationship with the United Kingdom

Mr Bell continued: “Officials in the

as confirmed by a House of Commons

Isle of Man and the UK have worked

Select Committee.

together to streamline the Royal Assent

The Justice Committee, chaired by

process for legislation. There is also

the Rt Hon Sir Alan Beith, reported on

much greater interaction now with

January 16 that almost all of its

individual UK Departments – especially

recommendations

with HM Treasury, the Foreign and

on

enhancing

relations with the Crown Dependencies

Commonwealth

Office

and

the

had now been implemented by the UK

Department for Business, Innovation

Ministry of Justice. It said legislation

and Skills – which is proving to be very

made by the Crown Dependencies was

helpful.

coming into force far more quickly, the

“The stability of our constitutional

UK Government was more consistent

relationship with the United Kingdom

in its consultation with them, and they

is important to the Isle of Man and we

had some opportunity to feed into

have prospered within that framework. “Although there are bound to be

international negotiations. The Chief Minister commented: “The

Isle

of

Man

Government

Rt Hon Alan Beith, Chair, Justice Committee

occasional tensions in any relationship, improved lines of communication with

welcomes the latest report from the

the

Justice Committee.

recognition of the Island as a mature

UK

have

brought

greater

“The Isle of Man enjoys an

and responsible democracy, along with

excellent working relationship with the

increasing opportunities for us to

Justice Committee and its chairman Sir

represent

Alan Beith, as we have had with Lord

international stage.”

ourselves

on

the

ISLE OF MAN

ISSUE 140

PORTFOLIO


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Government targets annual savings through shared services The Isle of Man Government is targeting long-term savings of more than £4 million a year through the creation of further shared service centres.

R 26 R

C

Government will also consolidate areas of finance, human resources

consolidate a number of back

and estates that were not included in

The new shared services will be

office and support functions as a way

the original round of shared services

operational from 1 April, in line with

of making Government more cost-

in 2010-11.

the changes agreed as part of the

Minister

Allan

The intention is that savings will

efficient. The move was announced during

be achieved through streamlining

the debate on proposals to Modernise

processes

Ministerial Government, which were

structures,

unanimously approved by Tynwald

accommodation where appropriate.

and

sharing

modernisation programme. Those measures include– • Combining key central functions in a new Cabinet Office, taking in the Chief Secretary’s Office, Office of Human Resources,

the recurring themes that emerged

Information Systems Division, and

together to create shared services in

from the Scope of Government Review

Economic Affairs

the following areas–

concerned the duplication of certain

• Creating a new Minister for

• Catering, within the new

back office and support functions

Policy and Reform to lead on the

Department of Health and Social

across different Departments. We

implementation of policy and reform

Care

know from previous experience that

across Government

bringing together similar services can

• Dissolving the Department of

Department of Infrastructure (with

deliver tangible cost savings, as well

Community, Culture and Leisure,

the exception of hospital cleaners)

as creating centres of excellence in

with the transfer of its component

terms of knowledge and skills.”

parts to other Departments

• Fleet management, within the

ISSUE 140

management

years.”

Staff and budgets will be brought

• Cleaning, within the

PORTFOLIO

and

The Chief Minister said: “One of

Members on Tuesday.

ISLE OF MAN

million per annum within three

Bell

signalled his intention to

hief

Department of Infrastructure

He added: “The Council of

• Information technology,

Ministers feels it is essential to ensure

• Reuniting Health and Social Care

occupational health and safety,

that

as

• Merging the Manx Electricity

learning and development, and

efficiently as possible. That is why we

Authority and Water and Sewerage

public and media relations, within

are

Authority to form a Manx Utilities

the new Cabinet Office

services, with target savings of £4.6

Government introducing

runs further

itself

shared

Authority


Busy programme planned for Isle of Man Funds Association during 2014 Funds Association appoints new Chairman to target industry growth.

T

he Isle of Man’s fund industry

Isle of Man funds industry in key

body, The Isle of Man Funds

markets, such as the City of London

Association

and in recent years to emerging

(IOMFA),

has

markets such as Russia.

confirmed plans for another busy schedule for 2014 as it continues its

The IOMFA representatives also

work to promote the Island’s fund

undertake regular visits to industry

industry to key target markets.

intermediaries which have previously targeted law firms and advisory firms

Newly appointed Chairman of the Association for 2014, Mr Paul Kneen

in

(CEO of Abacus Financial Services

Switzerland.For 2014 the IOMFA also

Group) said: “I look forward to the

aims to take the island’s fund offering

opportunities and challenges the year

to the often overlooked and growing

New

York,

London

and

regional UK financial centres. Mr

will bring. As the fund industry

Kneen further commented:

continues to grow and evolve, so do the

Economic Development. The main

legislative and regulatory pressures

committee

sub-

“We will look to build on the events

affecting it. It is more important than

committees dealing with Marketing,

of 2013 which were very successful in

ever to stay abreast of industry

Legal & Compliance and Membership,

increasing the profile of the Isle of Man

changes, working hand in hand with

each of which is made up of senior staff

funds industry across our key markets.

the government and the FSC to ensure

from across the scope of the industry

Credit must therefore be given to the

we have a robust Isle of Man fund

who generously volunteer their time

work of the IOMFA teams and to the

offering the benefits and abilities of

and effort throughout the year.

support given by the Department of

is

assisted

by

The IOMFA has invested significant

Economic Development. Continued

time and resources over the years

effective promotion of our proposition,

attending and hosting industry events,

based on our advantages in cost,

industry is largely undertaken by the

with

at

capability and capacity within a stable,

IOMFA’s

members

seminars and exhibiting at conferences

well-regulated jurisdiction is a key

supported by the Department of

in order to increase the profile of the

objective for IOMFA in 2014.”

which we can actively promote to as wider audience as possible”. The promotion of the Island’s fund committee

Newly appointed Chairman of the Association for 2014, Paul Kneen

representatives

speaking

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ISO certification award

T

he Isle Of Man Companies Registry quality management system has been certified as

complying with the requirements of ISO 9001:2008 following a review by Lloyd’s Register Quality Assurance. Minister for the Department of Economic Development John Shimmin MHK presented the Certificate to the

Obtaining ISO certification is an important recognition of the Registry’s commitment to our customers

staff of the Companies Registry and commented: “I want to congratulate the Companies Registry for achieving the requirements for ISO certification and

“The Registry is committed to

I commend the entire team for their

creating a culture of service excellence

continued commitment and hard work

and we have been reviewing all our

in providing a consistently professional

management systems, processes and

and

customer

procedures to ensure that we can

globally

consistently meet the expectations of

recognised quality standard enables the

our customers, both now and in the

Registry to appear on the UK Register of

future.

high

standard

service.”Gaining

of

this

“We are committed to continuous

Quality Assessed Companies.’ John

Wilkinson,

Companies

improvement. For example, we are

ISO

implementing an integrated IT system

certification is an important recognition

providing online services that all our

of the Registry’s commitment to our

stakeholders

customers and a demonstration of our

promising

willingness to grow with them.

effectiveness.”

Registrar

added:

“Obtaining

will

further

benefit efficiency

from, and

Becky McKay; Barbara Cohen; Angelina McCauley; Stephen Meehan; John Shimmin MHK; Richard Ronan MHK; Mike Astill; John Wilkinson; Bob Nodwell; Penny Hardman; Laurence Skelly MHK; DED CEO Chris Corlett; Alan Crowe MLC; Nick Cowell; Ray Ferguson; Amy-Rose ChristianWinczkowski; Mark Edwards; Helen Stuart ISLE OF MAN

ISSUE 140

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The next step exploring offshore wind and tidal energy opportunities The Isle of Man Government has taken a further step towards exploring the opportunities for generation of offshore wind and tidal energy and is now inviting expressions of interest from parties seeking to develop offshore energy production in Isle of Man territorial seas.

M

inister for Economic Dev-

LLP

to assist with the process for

and European renewable energy

elopment John Shimmin

tendering for future offshore wind

targets while delivering significant

commented: “The oppor-

farms and tidal energy schemes in our

benefits to the Island’s economy.

tunities for the Isle of Man in

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ISSUE 140

constraints

such

as

“There is also other economic

transport links will be protected in any

example, we estimate that leasing

development potential for the Isle of

future energy developments within

parts of the seabed within our waters

Man as these offshore installations

the Isle of Man’s territorial sea.”

to an offshore wind farm developer

will require onshore facilities to meet

Cathryn Hooper, one of Source

would generate several millions of

the operation and maintenance of the

Low Carbon’s three founding partners

pounds of income per year for the Isle

turbines. We are estimating the

said: “Source Low Carbon is delighted

of Man Government.

creation of around 60 jobs if just one

to have been selected by the Isle of

wind farm is progressed.

Man Government as its marine

Man from large offshore wind farms

“Consultation will continue with

renewable energy advisor. We look

could be worth £5M per year from

all stakeholders potentially affected by

forward to applying our experience of

leasing the seabed in our territorial

the development of any wind farms in

the offshore wind market and our

sea.

Isle of Man territorial sea to avoid any

understanding of development issues

adverse impacts.”

in the UK and more specifically in the

“All

ISLE OF MAN

“Existing

renewable energy are significant. For

“The potential return to the Isle of

PORTFOLIO

territorial seas.

the

infrastructure

costs

involved in building and installing the

Minister for the Department of

Irish Sea to help promote a successful

wind farms would be borne by the

Infrastructure David Cretney MHK

licencing process and deliver jobs and

developer, not the Isle of Man

commented: “Source Low Carbon was

inward investment to the Isle of Man

Government.

selected for its team’s excellent

economy.”

“The Government Departments

experience of policy and development

The Isle of Man owns its territorial

leading on this project being my

issues for offshore wind and marine

sea out to the 12 nautical mile limit

Department,

of

renewable projects. The Isle of Man

and so has responsibility for marine

Infrastructure (DOI), the Department

Government believes that offshore

spatial planning and zoning over

of Environment, Food and Agriculture

wind, wave and tidal generation

approximately 4000 sq km of the Irish

(DEFA) and Treasury, has brought in

projects within our territorial sea can

Sea which is 87% of the Isle of Man

expertise from Source Low Carbon

make an important contribution to UK

territory.

the

Department


ISLE OF MAN

Features Early gains in the value of sterling unlikely to persist throughout 2014 Insuring against business risk: surviving the fall Jam Boy urges students to stick with company programme Discreet new premises for Hamblin Employment Group PR Matters: Email Marketing Global Investment Markets: Where do we go from here? Cyber Security: the need to build confidence in your digital future Equiom Solutions hosts seminar with Savills and SPF Private Clients


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Early gains in the value of sterling unlikely to persist throughout 2014 The UK recovery was much stronger than we initially expected in 2013 which brought unexpected GBP strength relative to our forecasts at the start of last year. GBP gains may persist through the early part of 2014 given the soft outlook for many G10 economies. The government’s Help to Buy housing policy provides important, more prolonged, support for growth. But the wider UK recovery is still fragile and could yet be derailed by higher market interest rates and a stronger currency. We believe the Bank of England (BoE) will seek to delay raising policy rates for some time longer, though some in the market may romance harder the view that rates rise this year (potentially inflating longer term swap rates and making GBP more attractive). Still, it is around a weak balance of payments and weak household balance sheets that GBP vulnerabilities ultimately remain. Hence early 2014 gains for the currency may not persist.

By Conor Grant, Director, Corporate Treasury Solutions, RBS International

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UK recovery has been driven by services and consumption and not by net exports and investment.

A

UK recovery has been driven by

economic conditions and an

services and consumption and not by

increasingly pressing election

net exports and investment. The

We have detected a subtle shift in

about

strength of the recovery may also

the Bank of England’s approach to the

delivering quantity of growth rather

have been exaggerated by base

exchange

than quality. The Help to Buy led boost

effects, while survey evidence may

accepting of the recent appreciation.

to confidence from the housing

also be exaggerating the strength of

There is more focus on the positive

market recovery will still be an

the recovery. Still, households have

impact on CPI (Consumer Price

important prop to growth – and the

become more confident and reduced

Index) inflation from a stronger

value of GBP – into early 2014.

Euro area tail risks have helped

exchange

business sentiment. Employment is

Quantitative Easing (QE) failed to

also growing strongly.

deliver a significant boost to exports

timetable,

UK

policy

is

While interest rates are unlikely to rise until 2015, there appears ample

ISLE OF MAN

PORTFOLIO

ISSUE 140

simply stealing consumption from the

fter five years of difficult

future.

rate,

rate,

appearing

perhaps

more

because

opportunity for markets to embrace

But worries remain about the

and the trade-off between growth and

the idea of an earlier than expected

ability of households to spend after

inflation was weaker than anticipated.

tightening. The medium-term outlook

years of above target inflation and

While the BoE has expressed its

for GBP is likely to be determined by

weak income growth at a time when

concern about the impact of the

where the balance lies between

household

are

exchange rate on the recovery, there

concerns over widening imbalances

stretched. Unsecured lending (credit

is very little they can do about it given

(household

and

card borrowing) has been rising, but

the pace of recovery and the level of

Balance of Payments) and higher

the jury remains out over whether

inflation.

relative

is

this reflects increased confidence or

We do not anticipate any change

expected to have tipped in favour of

stressed household finances. In many

to the unemployment rate guidance

the former by late Q2 2014.

ways, the current policy setting is

threshold. However credibility can be

balance

yields.

The

sheets balance

balance

sheets


further stretched as we expect the 7%

breakeven

industrial

GBP/USD may well simply be a battle

threshold to be reached much earlier

production is struggling to get above

of Forward Guidance between the two

than the BoE's guidance of Q3:15 in

year ago levels.

central banks. The BoE appears more

level

and

constrained given the CPI inflation

the November Inflation Report (it’s

France and Italy, squeezed by core

currently standing at 7.1%!). The first

on one side and the recovering

outlook.

rise in the base rate is expected

periphery on the other, look set to

government having stressed fiscal

around late summer 2015. If this

remain an issue in 2014. If these two

conservatism and monetary activism

happens, tightening will have arrived

important Euro area countries follow

(read: increased tolerance to higher

noticeably ahead of the US Federal

the same path as the periphery, a long

inflation), both central banks appear

Reserve, the European Central Bank

period of below target inflation should

relatively equally matched. As such,

(ECB) and the Bank of Japan.

be expected in the region. This is

both are seen finding it gradually more

of

likely to be seen as possibly de-

difficult to maintain a dovish forward

EUR/GBP weakness in H1:14. EUR

anchoring inflation expectations and

guidance bias at the same time as

sentiment during 2013 appeared

something

stressing data dependency.

largely driven by a mix of movement

ultimately be forced to react to, in our

Ultimately, with fiscal drag in the

in relative yields, a shrinking ECB

view. This is likely to take the form of

US likely to be considerably less this

balance sheet and calmer markets in

Credit Easing and/or toughened

year than it was in 2013, interest rate

the Euro area periphery. We expect

forward guidance. An associated

spreads are expected to gradually

something similar in 2014. EUR

move in central bank balance sheets

move in favour of the USD into the

supportive portfolio inflows may

and rate differentials is likely to be

second half of this year, as the weight

persist,

EUR’s

sufficient to push GBPEUR higher in

of indebtedness impacts the UK

Payments

H1 2014 – possibly as high as 1.23 –

recovery. This may also be a time

1.24. However, GBP gains are not seen

when investors start to worry more

As mentioned last month, the EUR

persisting into late 2014 as the UK

about the UK’s widening current

has been resilient despite the ECB’s

recovery is expected to be losing

account deficit. Thus we expect

surprise

steam by then as the pressure of

GBP/USD to peak in the region of 1.65-

growing imbalances weighs.

1.70 early this year before heading

We

hence

see

adding

favourable

a

to

Balance

period

the of

profile.

interest

rate

cut

in

November. Whilst economic data

that

the

ECB

will

However,

with

the

UK

lower through 1.60 by year end.

improved broadly through 2013, more

It is now confirmed that the Fed

recent data have shown renewed

will be steadily easing back on its

weakness. Germany is increasingly a

monetary

2014.

primarily that 1) markets ignore

rare bright spot, while many semi-

However, the Fed is likely to continue

growing imbalances in the economy

core and core economies appear to be

to reinforce its (dovish) forward

for longer than we expect, 2) the US

struggling. France and Italy remain

guidance, implying that they can

consumer

the key economies to watch, where

maintain a highly accommodative

recoveries lose momentum and 3) the

composite

Managers

stance even while winding down its

UK’s consumer binge persists longer

Indices (PMIs) are below the 50

QE program. To a large extent,

than anticipated.

Purchasing

stimulus

in

H1

Worries remain 31 about the R R ability of households to spend after years of above target inflation and weak income growth at a time when household balance sheets are stretched.

The

risks

to

and

this

view

housing

are

market

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Insuring against business risk: surviving the fall A recent report suggests that nearly one in five businesses will suffer a major disruption every year. Further research suggests 80% of businesses affected by a major incident close down within 18 months, and 90% of those who lose their data are forced to close down within two years*.

By Tim Rattray, Managing Director, Rossborough Isle of Man

R 32 R

T

hese figures should serve to

either work remotely or to be very

order, you also have to consider how

remind

a

quickly redeployed.. Compare this to

long it will take to win back business,

responsible business owner,

a non-service led business, which

as customers may haved defected to a

shareholder, director or manager, you

may be wholly reliant on its premises

competitor.

should always be looking to manage

and therefore suffer a full shut down

relevant if your business is seasonal

your

you

that

as

effectively.

in these circumstances. It may also be

where the loss of a key few months

Business continuity insurance forms a

some time before operations can

can damage the business for years to

vital part of this risk management

resume.

come.

process.

businesses would insure against

business

risks

will depend on the type of business

potential lost earnings, the level of

to regulation. If key team members

that

cover

leave, you need to consider carefully

you

operate

-

business

interruptions suffered by a service led

to

and

their length

property of

indemnity

how the business would cope.

required would differ significantly. It is also important to take the

There are many things to consider

by a non-service led, manufacturing

performance of your business into

when insuring against risk; your type

or

organisation.

consideration. One common mistake

of business, your ability to carry on

Regardless of the type of business you

is insuring on the basis of the current

trading, increased costs of trading,

operate, it is vital that you seek

performance of the business, rather

lost repeat business, stagnation of

specialist insurance advice to mitigate

than where it will be in two or three

growth, lost data, regulation change

against the potential pitfalls of being

years. If your indemnity period is 36

and staff changes. Don’t get caught

incorrectly insured.

months and an accident occurs in the

out by not spending the time to

last month of your policy, and you’ve

analyse in detail the real impact of

based your sum insured on your profit

disaster on your business and seek

or revenue at the time of purchasing

professional advice to ensure your

the policy, you could lose out.

insurance provisions reflect that

supply

based

business

continuity

insurance? Many businesses insure against the same types of risk. however, the

ISSUE 140

damage

business will differ to those suffered

securing

ISLE OF MAN

Business continuity is also affected by staff churn, loss of data or changes

So what should you consider when

PORTFOLIO

Although all of these and

How you manage business risk

One common mistake is insuring on the basis of the current performance of the business, rather than where it will be in two or three years.

This is particularly

Another

important

factor

to

information.

Do what you can to

level of insurance required will differ

consider is the indemnity period. A

manage the risks, but then do all you

greatly. A service led business can

hotel shouldn’t buy 12 months cover

can to ensure your insurance is worth

suffer the same level of physical

if it would take 24-36 months to plan

the paper it’s written on.

damage to premises as any non-

and rebuild the property from the

service led organisation, but often will

ground up. It isn’t just the time it

* Information from BIBA (British

have the option of allowing staff to

takes to get the premises back in

Insurance Brokers Association)


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Jam Boy urges students to stick with company programme SuperJam founder and Junior Achievement ambassador Fraser Doherty made a welcome return to the Island to address students from Ballakermeen High School, Castle Rushen High School, King William’s College and Queen Elizabeth II High School taking part in the Junior Achievement company programme.

Waitrose…and they didn’t like any of them, so I had to re-think the message I was trying to get over.” He

suggested

inspiration

could come from other brands SuperJam’s successful labeling finally approved by Waitrose was inspired by the simplicity of

smoothie

manufacturer

Innocent’s

promotional

R 33 R

material – and as a dedicated philanthropist

H

urged

students ‘to run a business in

School’s studio theatre the

a way that does more than

event saw the 25-year-old

make money’.

Edinburgh-born recount

he

eld in Ballakermeen High

to

his

“Don’t set out to get rich;

entrepreneur audience

‘The

my

motivation

wasn’t

Adventures of Jam Boy’ in which, at

money, it was to be able to

the age of 14, he started making jam

gain control of my own life

inspired

and now I can help others by

by

his

grandmother’s

recipes, went on to supply more than

investing

2000 supermarkets in the UK, as well

businesses.

as in Australia, Korea and Japan, and

in

start-up

“I started out with an investment

now has his sights set on breaking

of just £5 to buy the fruit to make the

into the US market.

jam. With imagination and hard work

As a student he took part in the Young

Enterprise

company

you can grow an idea and it can change your life.”

programme, acting as, unsurprisingly,

The presentation also provided

managing director of a company

Junior Achievement chief executive

making sweets. “We didn’t win but

Sue Cook the opportunity to remind

the experience taught me about

students of the schedule for the

business and that you don’t always

company programme ahead of the

have to come up with something new,

competition on March 12th and that

sometimes you can just re-work an

the winning team, to be announced at

existing product. A good idea doesn’t

the awards ceremony on March 19th,

mean reinventing the wheel; you can

would be travelling to Estonia in July

create something extraordinary out of

to represent the Isle of Man in the

the ordinary…and make the most of

European finals. Sue urged the

your business mentors.”

students to “enter for the experience”

Fraser advised his audience of

and added: “Research shows that 15

be

per cent of students who take part in

prepared for knock-backs. “I worked

the company programme go on to

for a year on label designs for my jars

become self-employed, compared to

of jam before submitting them to

the national average of six per cent.”

aspiring

entrepreneurs

to

ISLE OF MAN

ISSUE 140

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Discreet new premises for Hamblin Employment Group Established for almost thirty years, Hamblin came into conception in the Isle of Man in April 1987 with its first home being in Nelson Street, Douglas and ten years later moving to its prominent base in Victoria Street. Now Hamblin has decided it’s ‘Time for a Change’ and moved to new, more discreetly located premises in Upper Church Street, Douglas.

E

stablished

for

almost

into

employers, Hamblin employs a large

branched

Executive and Personal Assistants.

team of qualified, well trained and

Hamblin has since grown to become

highly

home being in Nelson Street,

the largest Recruitment Agency on the

dedicated to assisting employers and

Douglas and, ten years later,

Island covering Temporary, Permanent,

candidates

moving to its prominent base in

Interim and Executive Recruitment

respective needs.

Victoria Street.

coupled

experienced alike

professionals

to

meet

their

and

There are numerous advantages of

Development, HR, Outplacement and

using Hamblin Employment Group

Payroll.

which

with

Learning

can

be

seen

from

both

have noticed more retail space opening

“We have concluded that nothing

perspectives: that of the proepsctive

up in Victoria Street, making Hamblin’s

can be achieved without, first and

employer and that of the jobseeker, as

High Street presence highly visible -

foremost, dedication and effort,” said

Hamblin

which is something that is causing

Emma. “We also realise that there is

expertise to fulfil the needs of both

concern for clients and candidates

little point in working hard if you can’t

parties.

alike,” said Hamblin’s Chief Executive

find the time to enjoy the fruits of your

and Owner, Emma Allard.

labour and, where possible, be able to

provides

“Heading away from the retail

give something back. Our passion lies

Selection and Interim Management

centre and the onlookers in the coffee

in building successful partnerships and

services as well as Permanent and

shops will enable us to provide a more

investing in people rather than just

Temporary vacancies through our

their ideas.”

three

in

a

more

Hamblin has demonstrated its

has

Hamblin

the

resources

Employment

Executive

employment

and

Group

Search

and

divisions.

Our

website contains up to date jobs and

accessible

ability to spot talent, and they take great

employment

location which

pleasure in subsequently matching that

Finance, Commercial and Public sector

includes

talent with the requests from their

organisations.

on-

site parking.” Hamblin began its days

HAMBLIN ADVERTISEMENTS FROM THE 80s and 90s Having looked back over the last three decades it is interesting to see that we are still seeking the same types of roles for the Isle of Man, demonstrating that the Island has a wealth of financial history that is continuing to thrive and grow . . . ISSUE 140

quickly

conceived in the Isle of

discreet service

ISLE OF MAN

but

Man in April 1987 with its first

Street location for fourteen years, we

PORTFOLIO

Retained by many of the top

only

“Having been in our Victoria

Our passion lies in building successful partnerships and investing in people rather than just their ideas

focussing on Executive Recruitment

thirty years, Hamblin was

clients to enable both candidate and client to grow and achieve their ambitions.

opportunities

within


Emma Allard, Chief Executive and Owner, Hamblin Employment Group

Fail to prepare, prepare to fail An employer wants to know that you are not applying for a job because you want a ‘new job’. They want to know that you want their job. Doing your research is therefore an essential part of ‘sealing the deal’. Hamblin advises candidates to research the company your applying to work for and use all the information you gather to provide the raw material for asking questions and raising discussion points. Take note of relevant market trends and the acitivites and performance of the company’s competitors. Using the research can help you to tailor your answers but can also be used to ask informed questions that demonstrates a keen and proactive approach from your side.

Use social networking to your advantage Be mindful that the company you are

applying

to

may

well

be

researching you, so ensure social networking sites and blogs reflect you in the best possible way. If, like us, you are considering a move; give us a call. We are one of the most

respected

recruitment

businesses on the Isle of Man because of our ability to join fantastic clients with dream candidates. Have a look around our website and give us a call.

Hamblin will be based at their new location from Friday 14th February: Hamblin House 5 Upper Church Street Douglas IM1 1EA Our main switchboard number remains: + 44 1624 640420 Email: recruit@hamblin.co.im Website: www.hamblin.co.im


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PR Matters: Email Marketing Vicky Mackie and Moya Wilson are two of Ashgrove’s marketing gurus. This month they discuss how to put together an email marketing campaign that really drives results.

VM: We’re all used to receiving lots of

Sure, you could email people from

has varied on details, but largely

emails from companies trying to sell

your

agrees that most people will spend

us things; it’s now a daily part of life.

attachments, but that won’t fly if

longer

Reactions vary a lot - some people love

you’re

marketing

especially marketing emails - on a

them, some people unsubscribe from

seriously. Proper automation software

mobile device than a desktop one.

everything as fast as their fingers will

allows you to brand and design the

While

let them, still others like them at home

email with rich content, eliminate

intuitive, it’s actually simply down to

but loathe them at work, or vice versa.

reliance

the fact that often people use mobile

The underlying fact, however, is that

automatically

list

content to fill time. Whether they are

there is a reason they are so prolific -

subscriptions, hit large lists without

waiting for the bus or getting their

they are cost-effective.

alarming spam filters and, most

hair done, they’re a captive audience

importantly, track your results down

and you want them reading your

to the click.

emails instead of playing Candy

MW: And we mean that in the full

own

inbox,

taking

on

maybe

your

large

with

attachments,

manage

The first thing you need is a mailing list, and there are roughly three ways to get this . . .

ISSUE 140

seem

-

counter-

VM: The software we use for all of this

absolute terms and relative to other

is called FRANKe and is a good

MW: Next, consider how you are going

media. Although they are obviously

example of a robust system: it is all

to break down your email list, and

particularly effective within the field

web based and does not require

what content will be sent to whom. If

of eCommerce, email campaigns have

HTML coding knowledge to produce

you can afford the time involved to

a definite role to play for local retail

branded emails. Although providers

generate the content, targeting is as

and B2B too. Yet their take-up by

like MailChimp have seen some

useful here as it is in all forms of

Manx businesses is somewhat behind

success amongst companies, they are

marketing, and easier than it is in

the times, so we thought we’d provide

not as robust or as user-friendly as

most other media.

a quick overview of the hows and

some

whys of email marketing.

solutions available on the market. Any

VM: As for specific content, the best

half-decent system should also ensure

way to work out what works for your

VM: The first thing you need is a

you are data-protection compliant, so

brand is what we call A/B testing, and

mailing list, and there are roughly

check this out before choosing a

again this is something that is much

three ways to get this. The first is

platform.

easier

of

the

more

commercial

to

manage

with

proper

campaign management software. This

traditional, offline contact capture. This is using customer paperwork to

MW: So if you have a subscription to

is where you send slightly different

collect addresses - just make sure you

FRANKe or a commercial equivalent,

emails to sections of your database,

provide

compliant

what do you need to think about next?

controlling

marketing opt-out option on your

Well, what exactly is the value you are

particular subjects, images or content

paperwork, or you are immediately

going to offer to the people on your

against a second option.

breaching data protection legislation

database? This is what makes them

by using the addresses for anything

read and click and stops them

MW: This brings us nicely to results

other than customer service. Second,

unsubscribing. For retail and B2C, it’s

monitoring and feedback. With the

you have online data capture - for

usually a promotion or offer. For B2B

right software, you can see who has

example

clients it is less direct and will often

opened an email, whether they have

competitions, a sign-up box on your

include

entries,

clicked on anything, what they have

website or even ‘gated’ content such

commentary, or access to educational

clicked, where on your website they

as whitepapers to collect addresses.

or

went afterwards, where they were

Again, an opt-out may be necessary.

multimedia in nature.

a

clear

using

and

Facebook

news,

reference

blog content

-

often

the

changes

to

test

when they opened it and a plethora of other data points. This is where the

VM: Then comes design. In addition to

real value lies: email marketing is

being faithful to your brand and being

responsive and intelligent. Ultimately,

MW: Next, you need email automation

visually pleasing, the key thing here is

this is why you should be doing it if

software with HTML design capacity.

mobile optimisation. Recent research

you aren’t already.

looking at off-Island targets.

ISLE OF MAN

may

emails

and extremely effective both in

Third, you can buy lists if you are

PORTFOLIO

this

their

Crush.

sense of the term. They are low cost

R 36 R

reading


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Global Investment Markets: Where do we go from here? Last year was a continuation of the post-2008 stock market bull-run and turned out to be a stellar one for most equity investors, despite some early predictions to the contrary. Most major blue chip equity indices produced double digit returns and, other than any stock specific issues, equity portfolio clients should have had good reason to be happy with their overall capital and income returns . . . By Tom Richards, Director, Head of Private Investment Management (Offshore) Thomas Miller Investment

C

included a top level under-weight to cash

property and listed infrastructure funds

and over-weight to equities versus

compared to hedge fund alternatives,

bonds. At the second level, favouring

particularly single strategy, and gold.

corporate debt rather than government

It is apparent that equity markets are

generally helped, as did tilts towards the

seeing large asset inflows and most

United States equity region/currency and

market commentators are generally

lients with any exposure to

trimming emerging market equity

bullish as the developed economy

small and mid capitalised

exposure in favour of currency-hedged

macro

stocks might well have found

Japanese and/or global themed funds.

improve. There are certainly inherent

environment

continues

some extraordinary opportunities to

Those clients feeding into the market

risks as global liquidity starts to be

generate high levels of returns, albeit at

from cash at the beginning of the year

unwound, particularly in peripheral

increased levels of volatility. On the other

might well have lagged the rapid equity

Europe and the emerging markets.

hand, those hoping to use the emerging

gains seen over the first few months and

However, we are starting to see strong

markets as the traditional geared play on

become invested just in time to

price gains across the wider array of

developed

were

experience the traditional summer

mainstream bull market investments

generally disappointed as these markets

market volatility. However, there should

including residential and commercial

reminded them that they offer higher

have been sufficient breadth in the

property; and the more esoteric such as

levels of pricing sophistication than a

trading range of generally sideways

fine wine and classic cars. The OECD’s

simple ‘risk on/off’ mechanism.

moving markets in the second half of the

economic growth outlook for 2014 is

Bond investors, however, might well

year to allow both equity and bond

enclosed

have breathed a sigh of relief. With 10

managers to deliver positive returns,

consensus views should always be

year United Kingdom Treasury yields

even before the market’s traditional pre-

treated with a hefty dose of caution, if

starting the year at around 1.8% per

Christmas ‘Santa Rally’.

corporate earnings can expand in line

market

growth

below.

Whilst

market

annum, close to all time historical low

2014 will be interesting. Thus far, the

with forecast economic growth then this

levels, there was much talk of an

year has been a volatile one for equity

should support an ongoing period of

impending blood bath as and when the

markets but we maintain our cautiously

equity market gains, particularly across

yield curve shifted upwards. However,

positive view and are starting to see

the

despite yields ending the year at around

some great opportunities to pick up

business sectors.

3%, most investors in United Kingdom

quality companies at discounted prices.

Of course, how authorities manage

Gilts of medium maturity probably

Bond yields have now moved perhaps

the process of reducing their asset

ended the year not far from flat when

halfway towards ‘normal’ levels and

purchases (“tapering”) with consequent

income returns are included. Those

there is at least a bit of value in

increasing yields across the length of the

bond investors positioned with shorter

government debt but nonetheless we

curve will be crucial for ongoing stable

duration and over-weighted to corporate

retain our bias towards corporate credit

market growth this year. Also, equity

credit compared to their benchmarks

and are generally short-duration to limit

markets are having a pause for breath

had the greatest likelihood of producing

our sensitivity to yield curve rises.

following their stellar gains last year.

low positive total returns including

Emerging market assets and currencies

However, all great equity bull markets

income, if invested over the whole year.

remain under-weight but at some point

start during times of recession and, with

Thomas Miller Investment’s fully

valuations will start looking attractive

current prices not looking excessive

invested offshore private client portfolios

again. In the main, we continue to favour

given

generally fared well in 2013. Major calls

‘traditional

positioning remains generally optimistic.

alternatives’

including

more

economically

mid-cycle

R 37 R

to

sensitive

valuations,

our

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Cyber Security: the need to build confidence in your digital future Businesses are facing rapidly increasing exposure to cyber security risk. Cyber security should be an enterprise risk for which boards develop a clear risk appetite and action plan; and seek regular assurance that risks are appropriately monitored and managed.

By Steven Craven, Audit Manager, PwC Isle of Man

R 38 R

C

agencies, regulators and service

industries and in all countries

providers. The integrity and stability

changes

now

an

of your business is now, more than

environment; and

interconnected manner - as do highly

ever, dependent on those in your

sophisticated

ecosystem.

operate and

in

economically

risk

3. advancing their security posture through a shared vision and culture. Today the sheer volume and concentration of data, coupled with

for cyber security solely in the hands

term

lie

easy global access throughout the

of their technology team.

dormant and out of sight of the C-

business ecosystem magnifies the

corporate

Suite and board. Businesses should

exposure from cyber-attack.

boards need to provide leadership,

re-evaluate security priorities and

oversight and governance for cyber

allocations.

security

and the ability to remain anonymous

risk management to protect what is

challenges should be contemplated

presents an opportunity for anyone

most critical to their organisation's

and

with

current and future growth.

executives and boards and be viewed

connection to infiltrate the business ecosystem.

CEOs

Yet many

and

Within

many

strategic

addressed

implications

Cyber by

the

C-Suite

Cyber-attacks are on the increase:

as a strategic business imperative in

average losses are going up with the

order to protect brand, competitive

number of organisations reporting

advantage and shareholder value.

The reward of a successful attack

a

computer

and

internet

For all the new technology they are faced with, many cyber enabled frauds or attacks identified rely on old

losses of $10m or greater increasing

Company leaders and boards can

51% from 2011 according to the 2014

no longer afford to view cyber-attacks

fashioned

PwC Global State of Information

as a technology problem.

Nation

Security survey1.

enterprise risk management issue, it

'hacktivists' and even employees are

now

starts at the top with senior executives

all potential adversaries.

and

viewing cyber security as an integral

groups are sophisticated, determined

interdependent - creating dynamic

part of their business agenda and risk

and patient and their motives range

business ecosystems.

tolerance.

from economic espionage to rapid

Businesses

are integrated

Traditional

As an

human

states,

movement

vulnerabilities.

organised

of

crime, These

information.

Your

There are three actions boards

ecosystem now includes not only

should consider when assessing their

Adversaries' motives will evolve as

employees, partners and customers,

cyber security posture:

business

boundaries

have

shifted.

but other parties such as law firms, investment

ISSUE 140

security

organisations,

interconnected,

ISLE OF MAN

the

unmanaged risks with potential long

Instead,

PORTFOLIO

in

enterprises place the responsibility

motivated adversaries.

The integrity and stability of your business is now, more than ever, dependent on those in your ecosystem.

2. understanding and adapting to

ompanies of all sizes, in all

banks,

government

1. enhancing their cyber security strategy and capability;

strategies

change

and

business activities are executed; they can strike quickly, or they can be


persistent and lie in wait. The assets

to

small

are engaged into trusted board-level

most important to an organisation

decisions made in haste can have a

relationships; we help the board

must be prioritised and protected

significant

assess

first.

organisation’s ability to contain that

understanding if the business is doing

incident,

an

attack,

seemingly

impact

on

your

how

good

they

are

at

what

the right things to deal with cyber

business's ability to address cyber

happened and learn from what went

threats and build a roadmap for

issues

feel

wrong. In the 2014 GSIS survey, over

improvement.

confident about the following areas to

16% of UK businesses do not know

PwC has established a cyber

achieve their strategic goals set:

how many security incidents they

response team, creating an in-house

have had in the last year - and the

group of around 80 experts who are

number of security incidents detected

part of a world class team: the cross-

in the UK in the past 12 months

border cyber security unit has been

increased by 69%, compared to a

ranked number one globally in 2013

global increase of just 25%.

by

To

gain the

confidence C-Suite

in

your

should

• Confidence in their people at every level of the organisation; • Confidence in their technology, especially during times of change; • Confidence in the connections within their complex digital ecosystem; • Confidence that their

fully

understand

At PwC we have seen many instance embarked

of

crisis on

the

independent

technology

research

action

company. What is needed in someone

organisations,

to be part of such a cyber response

driven

by

Gartner,

information

organisation can take business risks

urgently engaging us to triage and

team

and manage the downside;

respond to specific breaches or

technologically

imminent

someone who is totally trustworthy.

• Confidence in their board's allocation of priorities; and • Confidence of their resilience during crises. Were your organisation subjected

threats.

We

assist

in

building strategies and launching cyber

not

just

one

agile,

who but

is

also

As with all complex business scenarios, the safest option is to ask

implementation plans. Where

is

security

is

recognised as a board level issue, we

for professional advice as soon as possible. ISLE OF MAN

ISSUE 140

PORTFOLIO


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Equiom Solutions hosts seminar with Savills and SPF Private Clients Equiom Solutions Limited in conjunction with Savills and SPF Private Clients recently hosted a seminar on UK property for Isle of Man residents.

Above: Equiom Solutions’ tax specialists: John Nugent, Helen Woods, Philip Dearden

R 40 R

Right: John Nugent, Equiom Solutions Managing Director Far right: Steven Lang, Director, Savills Commercial Research

The increasing tax burden on expensive residential property is having an effect on the market . . .

T

was

difficult but increasingly attractive

Property Seminar and we appreciate

delivered by an experienced

market. The Equiom Solutions team

the importance for Isle of Man

team of speakers from both

helps personal and corporate clients

businesses to understand the UK

Equiom Solutions and Savills was held

structure

property

commercial and residential property

at the Manx Museum and provided

investments efficiently. Our seminar

markets. With the improvement of the

delegates with detailed information on:

was partly about educating investors

UK economy we are this year seeing

the UK commercial and residential

with regard to the potential pitfalls that

many

property

can give rise to unexpected tax

commercial property market. The UK

liabilities.”

residential

he

seminar,

market,

tax

which

and

estate

planning for Isle of Man residents and commercial property tax consider-

ISLE OF MAN

ISSUE 140

Savills

UK

provided

their

market

positive

somewhat

signs

market harder

in

the

UK

however, to

is

understand.

ations. It was attended by over 150

review with talks from Steven Lang

Certain parts of the UK market in price

delegates from across the legal,

(Director

and

accountancy, property and finance

Research)

sectors on the Island.

(Associate,

of

Savills and

Commercial

Sophie

Savills

Chick

Residential

transaction

levels

are

still

significantly below previous highs from before the recession. “London

continues

to

show

Equiom Solutions well known local

Research). The issues of valuations

tax specialists, Philip Dearden, John

and the effects of taxation on the

significant price rises but these rises

Nugent and Helen Woods, explained

London

were

have slowed in prime central London.

the various tax issues that need to be

considered by Anthony Griffiths and

South west London and Marylebone

taken into account when investing or

Simon Aldous both Directors of Savills

have continued to show significant

trading in UK property.

London Valuations.

rises. The increasing tax burden on

Speaking on behalf of Equiom

PORTFOLIO

their

residential

market

Simon Aldous, Director of Savills

expensive

residential

property

is

Solutions, Managing Director John

London

commented:

having an effect on the market and the

Nugent commented: “The Savills team

“Savills were honoured to be asked to

possibility of a mansion tax could also

gave us their expert analysis of a still

present at the Equiom Solutions UK

create price falls.”

Valuations,


ISLE OF MAN

Motoring Jaguar’s new XK Special Editions Seat look to consolidate growth Arsenal  test new Grand Picasso New Qashqai your Mum would like Hyundai teams up with Tate Behaviour-modelled insurance Prepare for car-less cities? European new car sales up Laser lights on Le Mans Audi


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Prepare for launch

Jaguar’s new XK special editions

T

R 42 R

he first Jaguar car to be created

Nothing exemplifies this dual character

torque figures of 510PS and 625Nm

under the leadership of Design

more clearly than the supercharged 5.0-

respectively, taking the car to 60mph in

Director

litre V8 engine fitted to both XK special

just 4.6 seconds with a limited top speed

edition cars.

of 174mph. Extremely powerful but also

dramatic

Behave yourself Research from the British Insurance Brokers’ Association (BIBA) shows that behaviour based motor insurance sales have increased by 116,000, some 61% since June 2012. BIBA says that the behaviour based

policies,

often

called

telematics, can offer savings on motor insurance of around 25% and some young drivers can save up to £1,000. The

technology

recording

journeys

works or

by

driving

behaviour so that premiums can be accurately applied to a driver's exact risk profile. Graeme Trudgill, BIBA’s Executive Director, said: “The rise of the new App smart phone technology will see

sales

of

behaviour

based

products continue to increase and so brokers are launching products to meet the demand.

Callum,

purposeful

XK,

the is

ISSUE 140

efficient, the XK Dynamic R emits

receiving a number of additions for the

Now in its third generation, this

2015 model year that add to its palette

engine offers not only tremendous

of impressive performance technologies

power but also great efficiency by

Both XK Dynamic R and Signature

and luxury features.

incorporating the very latest technology

models are fitted with a six-speed ZF

292g/km of CO2.

Two special edition models will be

including spray-guided direct injection

automatic gearbox with steering wheel-

available in exclusive Signature and

(SGDI) and dual independent variable

mounted paddles, which control the

Dynamic R specifications. The 2015

cam timing (DIVCT). Like the car itself,

Jaguar Sequential Shift function for

Model Year XK line-up now comprises

the engine is constructed from high-

greater driver control.

Signature,

grade, lightweight aluminum, which in

The supercharged XK Dynamic R

the cylinder heads is recycled to reduce

edition also benefits from Jaguar's

the

Active Differential Control technology.

Dynamic

R

and

R-S

derivatives. The luxury focused XK Signature model - with a 385PS 5.0-litre V8 engine

environmental

impact

of

This uses a multiplate clutch to vector

manufacture.

torque to the driven wheel with the

- is fitted with a host of additional features

including

standard

20"

Kalimnos wheels and Reverse Park Camera,

while

the

performance

focused 510PS 5.0-litre supercharged XK Dynamic R - based on the existing XKR - offers Black Dynamic Pack, which incorporates XKR-S suspension and dynamics and a 10mm reduction in ride height, plus Speed Pack, which

The performance focused 510PS XK Dynamic R benefits from a Black Dynamic Pack, incorporating XKR-S suspension and dynamics and a 10mm reduction in ride height

most grip. Allied to ABS and stability control, this allows for the ultimate in traction and precision both mid-corner and at its exit. The XK Signature model uses a mechanical differential, which delivers outstanding levels of grip and stability under power. Both cars feature Dynamic Stability Control system, which offers four modes: Normal, Winter, TracDSC and

equips the car with an Aerodynamic Pack and an increased top speed of

The XK Signature can reach 60 mph

DSC Off, allowing the enthusiastic

174mph. A Performance Active Exhaust

in 5.2 seconds in Coupé guise, and 5.3

driver to choose the level of intervention

is also standard equipment.

seconds for the Convertible, each car

dependent on road conditions. The

double

wishbone

front

First deliveries to UK customers of

producing a meaty 515Nm of torque.

the new XK Signature and Dynamic R

The top speed for both variants is

suspension on both cars features a fully-

editions are expected in March.

electronically limited to 155mph and

machined steering knuckle which

both cars produce just 264 g/km of CO2.

significantly increases camber and

for blending athletic high-performance

The

5.0-litre

castor stiffness by 0.13 degrees per kilo

with

supercharged V8, offers power and

newton, to transform the accuracy and

Jaguar sports cars have a reputation

ISLE OF MAN

PORTFOLIO

and

Ian

effortless

cruising

comfort.

XK

Dynamic

R's


mapping. The central screen also

weighting of the steering for greater

projects the image from the new

levels of connection, feedback and precision. Rear suspension geometry benefits from rear wheel steer optimised for maximum agility. The XK Dynamic R features as standard the Black Dynamic Pack incorporating suspension technology from the XKR-S - which adds a stiffer knuckle

for

improved

steering

The luxury focused 385PS XK Signature model comes equipped with 20” Kalimnos wheels and Reverse Park Camera as standard

and

Car-less cities?

The XK Signature comes with 20''

Tackling the pollution and congestion

Kalimnos wheels as standard, with 20"

problems of global cities as they

Takoba wheels available as an option,

expand will be as important to car

while the XK Dynamic R has 20" Vortex

makers as it is to city planners, says Dr

diamond

with

Robin Daniels, chief executive of smart

distinctive Red painted brake calipers -

mobility experts, Magma Innovations.

turned

wheels

-

“Cities around the world make announcements,

lightweight alloys.

almost

weekly,

Adaptive

Standard on the XK Signature are

Dynamics system, which performs

Luxury seats available in Ivory or

Both the XK Signature and Dynamic

three

Charcoal soft grain leather. The interior

R editions are available with a choice of

vertical body movement, roll and pitch

also

Suedecloth

exterior body colours - Polaris White,

“This will lead to a new hierarchy

rates. One hundred times every second,

headlining, Figured Ebony veneers and

Ultimate Black, Stratus Grey, Italian

in which pedestrians come first, then

Adaptive

Bright Metal sport pedals.

Racing Red, Dark Sapphire and British

public transport, then bikes, then cars.”

main

Jaguar's

standard to both special edition cars.

and the option of 20" Vulcan Gloss Black

precision, uprated spring and damper settings

Reverse Park Camera, which is fitted as

functions;

Dynamics

controlling

analyses

the

thousands of inputs and variables which determine

ride

and

features

Canvas

The XK Dynamic R boasts Jaguar's

handling

new diamond sewn Performance seat in

characteristics. Additionally, the XK

either Ivory/Charcoal soft grain leather

Dynamic R's ride height is lowered by

with

10mm, giving the car more of an

Charcoal/Red soft grain leather with

assertive presence on the road. The

Red contrast stitch leather. The 16-way

Dynamic R also comes as standard with

adjustment of squab, cushion, lumbar

Speed Pack, which increases the

and bolster elements is supplemented

maximum speed from 155mph to an

by memory and heating functions.

electronically

Bright Metal sport pedals are also fitted

limited

174mph.

In

addition to the increased maximum

Ivory

contrast

stitch

the car from their central streets.

Racing Green.

or

as standard.

speed, the pack also includes a body-

The central seven-inch touch-

coloured Aerodynamic Pack with front

screen provides an intuitive interface

splitter and larger rear spoiler, as well

for the extensive technology that is

as a body-coloured rear diffuser and

seamlessly incorporated into the XK,

side sill extensions. A Performance

including iPod and USB connectivity

Active Exhaust is also fitted as standard.

and satellite navigation with DVD

SEAT boss confident of 2014 success

C

describing their strategy to eliminate

Jaguar Design Director Ian Callum, after being named Industry Innovator of the Year

R 43 R

an SEAT make 2014 a sixth successive year of growth? Neil Williamson, director of SEAT

UK, is confident that with the ST version of the Leon joining the line-up as well as high-performance Cupra models, it can. Leon Cupra will be seen at the Geneva motor show in March and go on sale in the UK later that month. Cupra models have accounted for around onein-25 Leon sales. “It’s an important halo car for us,” said Williamson, adding that he would like to sell more rather than just have them as an image booster. Leon

has

proved

remarkably

popular since its launch last year. Sales in 2013 totalled 14,300 and with the

new role “taking the temperature” of

20,000 units last year out of a total of

arrival of the ST version this month,

the 124-strong network, speaking to

45,300, which itself was a record for

Williamson expects it to close in on the

the major players like Pendragon and

SEAT in the UK. “Retail and good

Ibiza as SEAT's best seller; Ibiza sales

Bristol Street Motors as well as the

quality fleet is what dealers do best,”

last year were 19,770.

small family businesses which he

said Williamson. While Leon ST is an

describes as “local heroes.”

obvious

"Dealers love the new Leon and it

fleet

sales

opportunity,

has really lifted the network," said

“I think we could do better and

Williamson said that he wants to pull

Williamson. And it is the dealers that

need to engage more with our

back from daily rental and believes

have been Williamson's focus since he

dealers,” he said. So he has embarked

there is still pent-up demand for cars

took the SEAT UK job early last year.

on a “love our dealers” strategy and

like the Leon in the retail sector.

After eight years at Mercedes-Benz UK,

has launched a ‘franchise board’ or

The Leon will be boosted in the

steering the retail division through

dealer council which meets quarterly.

second half of the year with the

some

“Dealers are now our No 1 route to

arrival of a four-wheel drive version,

market,” he said.

a first for SEAT as it draws on the all-

difficult

years,

Williamson

believes that he knows what dealers think and feel. He spent his early months in his

The changes appear to be working. Retail sales have grown 30 per cent to

Dealers love the new Leon and it has really lifted the network

wheel drive technology of the VW Group. ISLE OF MAN

ISSUE 140

PORTFOLIO


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Gunning for Glory

R 44 R

T

he New Citroën Grand C4 Picasso has been put through its paces at Arsenal Football Club’s

Training Ground by Premier League aces Olivier Giroud, Per Mertesacker, Santi Cazorla and Wojciech Szcz sny. In a light-hearted promotional film,

Lasers at Le Mans

the players test a selection of the features that help to make the New Grand C4 Picasso a multi-award-

For this year’s Le Mans 24 Hours

In a high-stakes demonstration of the car’s Park Assist feature, Per and Olivier showcase the assisted parallel parking technology between a Ferrari 430 and Maserati GranTurismo

James

Parfett,

Communications

Director at Citroën UK, commented; "It's brilliant to be exploring new ways of working with Arsenal as we're now in our seventh season as the Club's Official Automotive Partner. We had a lot of fun creating this film and we hope Citroën and Arsenal fans alike enjoy seeing the players and car in this new light." The New Citroën Grand C4 Picasso has only been on sale in the UK since

winning MPV.

race, to be held in June, Audi has

Created to mark the launch of

In a high-stakes demonstration of

the start of the year, but has already

opted for a combination of LED and

Citroën's new-generation compact 7-

the New Grand C4 Picasso's Park Assist

been named TopGear Magazine's

laser light.

seater, the film sees the Arsenal players

feature, Per and Olivier showcase the

Family Car of the Year, What Car?'s MPV

put the new MPV through a series of

assisted parallel parking technology

of the Year and is one of the seven

available with matrix LED headlights -

football-themed

between a Ferrari 430 and Maserati

finalists for Car of the Year. Available

the

lighting

demonstrate the class-leading space,

GranTurismo,

from £19,200, the New Grand C4

technology for production cars. We're

comfort and technology on offer. Their

Wojciech look on in amazement.

going to offer it in further models.

alternative take on a car review sees the

The tongue-in-cheek film shows

elegant offering for the 7-seat compact

Our latest development is laser light -

Arsenal stars capitalising on each of

that even Arsenal footballers are not

MPV segment that strikes a new

even sharper, more powerful and

their technical strengths such as a spot

immune to the charm of this new

balance between benchmark space and

more efficient. We’re equipping the

of free kick and goalie practise to test

family-friendly

engaging styling, combined with record

new Le Mans race car with it and will

the wide door and boot openings,

highlighting some of the features a

be the first automobile manufacturer

followed

Premier League player might look for

to introduce laser light in production

relaxation on the massaging seats.

“The

A8

most

has

recently

advanced

been

by

challenges

some

to

post-training

whilst

car,

Santi

as

and

well

Picasso is a practical, versatile and

as

when choosing their own family car.

cars,” says Prof. Dr. Ulrich Hackenberg, Member of the Board of Management for Technical Development of AUDI AG. The Audi R10 TDI in Le Mans 2006 was the first race car equipped with LED daytime running light.

ISLE OF MAN

PORTFOLIO

ISSUE 140

Tate That . . .

H

yundai, the fastest-growing

Company’s support will realise the

automaker

has

‘Hyundai Commission’ - a new-series of

announced an 11-year partner-

annual installations by contemporary

ship with Tate, one of the world’s top art

artists in the iconic Turbine Hall (right) at

institutions. Through this partnership, the

Tate Modern, London, beginning in 2015.

by

brand,

efficiency. To

watch

the

video,

visit

youtube.com/watch?v=Ab7_6KlXCJQ


Euro sales end on high

“Would my Mum like it?”

Annual new car sales in Europe improved significantly during the second half of 2013 to finish just 1.7% behind 2012 volumes. Four consecutive monthly increases ended

2013

with

December’s

improvement - up by 12.7% year-onyear - proving to be the largest monthly increase of the year, driven by large increases in France, Germany, Great Britain, Spain and the Netherlands. The Volkswagen Golf was the bestselling car in Europe in 2013.

T

hey call it the family question

what they want in a car. “That’s part of

test or, as senior engineer Mark

the fun - we have to work it out.”

The What Car? judging panel

Fowler puts it, “if we make a

One good example was the call to

2WD as its favourite model in the new

change I ask myself if my Mum would

have far more storage places. To

range, praising its refinement, agile

care about what we have done.”

accommodate that, the decision was

driving experience and low running

made to adopt an electronic parking

costs. The panel also highlighted the

Bedfordshire,

brake. “We took that decision three

new Qashqai's comfort, refinement and

describes his job as “marketability” -

years ago so there was a big sigh of

space, along with its clean engine

making sure a car is suitable for

relief when we saw others like VW with

range

market. His official title is “customer

new Golf take the same decision,” said

emissions.

oriented engineering” which means he

Callegari.

Fowler, based at Nissan’s UK technical

centre

in

is the interface between product

and

sub-100g/km

CO2

What Car? Editor-in-Chief, Chas

He describes new Qashqai as “a car

Hallett added: “The new Qashqai

without gimmicks - everything has to

brings excellence and polish to a class

Something that did come from

be really usable and nothing frivolous.”

of cars that was already brimming with

customer feedback was that most who

The multi-tiered luggage system

talent and tempting buys. It has an

bought the stretched Qashqai +2 did so

has been adopted from Note, a previous

interior worthy of its stylish looks, and

not for the extra row of seats but for the

Callegari project. “We knew it worked,

it makes a fine family car. It’s fantastic

extra luggage space. So new Qashqai,

so why not?” Other technology has

value for money and a very worthy Car

on sale from Monday, is only available

come from Nissan's upmarket Infiniti

of the Year.”

as a five-seater. Those wanting seven

brand.

planning and engineering.

Jim Wright, Nissan Motor GB Managing

Director,

commented:

seats will have to wait until X-Trail

“The aim was to produce a secure,

arrives in July. Both cars were

comfortable car that gives owners

“We’re thrilled that What Car? has

developed

confidence. We weren’t developing a

named the new Qashqai as its 2014 Car

GT or a sports car,” notes Callegari.

of the Year. A huge amount of effort has

together

off

the

new

Renault-Nissan Alliance C segment platform, the first cars to use the modular architecture. Taking customer feedback from all over Europe and filtering that into a

The all-new Qashqai has been

gone into the design and engineering of

honoured with one of the motoring

the new car, and we’re all extremely

industry's highest accolades - the What

excited about creating the template for

Car? Car of the Year Award for 2014.

the second-generation crossover.

multi-award-winning

“As the What Car judges discovered

cooking - the same ingredients can

predecessor, the all-new Qashqai has

for themselves, the new Qashqai is an

produce a curry or a fajita. “It’s how you

been designed, engineered and will be

unbeatable

mix the ingredients,” explains Stewart

built in the UK. It saw off strong

equipment levels, great refinement and

Callegari, regional product manager.

new model only works so far. It's like

Like

its

package

with

competition to win both the Small SUV

comfort and incredible attention to

(£16,000 - £22,000) category, and the

detail.”

feedback is that while they know what

overall 2014 What Car? Car of the Year

they like they tend to give only hints of

title.

challenge

with

The new Qashqai brings excellence and polish to a class of cars that was already brimming with talent and tempting buys.

high

customer

The

R 45 R

selected the Qashqai 1.5 dCi Acenta

The new Qashqai has just on sale with prices starting from £17,595. ISLE OF MAN

ISSUE 140

PORTFOLIO


John Ingham L U X U R Y

A N D

P E R F O R M A N C E

C A R S

We want to buy your Classic Car At John Ingham we are constantly looking to aquire classic vehicles vehicles of the highest standard to add to our collection. Our ideal vehicles are low mileage original un-modified models, specifically Aston Martin, Alfa Romeo, Audi, Bentley, BMW, Ferrari, Ford, Lancia, Mercedes-Benz, Porsche, Rolls-Royce and many more.

There are two options that are available when it comes to selling your car A) We are competitive buyers and may offer you a cash sale to buy your car outright.. B) You may wish to part-exchange your car to cover the cost of the one you are buying.

If your vehicle meets these criteria, please contact us on 01624 815055 or pop in and see us at our showrooms for an instant cash decision.

John Ingham - Luxury & Performance Cars The Car Showroom Derby Road

Classic Cars of all marques considered

Ramsey Isle of Man IM8 1DA

01624 815055 www.johningham.co.uk Open 6 Days (Closed Sundays)


ISLE OF MAN

Appointments In association with

www.hamblin.co.im T 01624 640420

Equiom Strand Group Appleby Thornton Associates Quinn Legal Creechurch Capital Riva Financial Systems The Buchan School


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In association with

www.hamblin.co.im T 01624 640420

Equiom

E

our

staff

for

their

rewarding

trust and corporate services

contribution to the ongoing success of

up

provider with offices in the Isle

the Group. It is important to retain

function in 2008 and has played a key

of Man, Jersey and Malta is delighted

committed,

role

to announce the promotions of Joanna

experienced

Bodell and Sue Fraser. In addition to

congratulate Joanna and Sue on their

the promotions the business has also

promotions.”

professional individuals

and and

I

of

new

Matthew Bird joins Equiom as Human Resources Manager and will has worked within the offshore HR

Man and will continue to support the

sector in the Isle of Man for over 20

Director, Sheila Dean commented on

ongoing operations of the Equiom

years and brings a wealth of Human

the promotions: “Equiom is committed

Group.

Resources knowledge and experience to the team. Matthew will be working

to not only recognising the value and

The two promotions are: Joanna

experience our staff bring but also

Bodell promoted to Senior Manager –

alongside

the

Fiduciary Services with responsibility

Resources

Director

for new client development for Equiom

comprehensive HR service to the

Group.

Group across all jurisdictions.

R 48 R

Joanna has over 22 years

Group’s to

Human deliver

a

offshore

Colin MacKenzie, Group Human

fiduciary industry having worked with

Resources Director commented on

international clients involving property

Matthew’s appointment: “I would like

structures, trading entities, investment

to take this opportunity to welcome

holding and offshore trusts.

Matthew to the Equiom team and I am

within

the

Sue Fraser promoted to Manager –

extremely pleased that Matthew has

Finance with responsibility for the

joined

efficient and accurate billing for

professionalism and enthusiasm will

Equiom Group as well as responsibility

undoubtedly

for the Group’s credit control functions.

business.”

us.

His add

experience,

value

to

our

Strand Group

S

trand Group has appointed

one of our customers benefits from the

Dave Rourke as operations

same high standards.” The company

director of Strand Facilities

has held the quality standard for five years and is the only Island company in

Services.

its sector to achieve it.

Dave (51) joined Strand Group in 2008 and most recently was deputy

Prior to joining the Strand Group,

operations director of the facilities

Dave was with Abbey National Offshore

management arm of the Group where

where he managed the company’s

services include building maintenance,

property portfolio in both the Isle of Man

caretaking,

safety

and Jersey. He was previously with

routines, key holding and special

Barclays Bank and has over 12 years

projects

experience in facilities management.

cleaning,

such

as

fire

relocation

or

Dave takes over from Pam Kelly

renovation.

ISSUE 140

integration

businesses acquired by Equiom.

Managing

Group

experience

PORTFOLIO

the

billing

also be based in the Isle of Man. He

Equiom’s

ISLE OF MAN

in

centralised

Both Joanna and Sue are based in

Human Resources Manager.

Right: Dave Rourke

Equiom’s

Equiom’s headquarters in the Isle of

appointed Matthew Bird to the role of

Top: Matthew Bird. Above: Sue Fraser, Manager, Finance; Sheila Dean, Equiom Group Managing Director; Joana Bodell, Senior Manager, Fiduciary Services.

Sue played an integral part in setting

quiom, a leading international

“It’s a good way to start the new

Strand Facilities Services operates to

who retired from the role at the end of

year,’’ said Dave. “I’m lucky to work

ISO 27001 quality standards that are

2013. Pam, who has 19 years of service,

with a great team. We set ourselves

primarily concerned with security and

remains on the board as a non-

very high standards and we’re always

confidentiality. Dave said, “Working to

executive director.

striving to exceed our customers’

these standards is essential to our many

Strand Group is one of the largest

expectations.

2014 is set to be a

corporate clients including several

independent employers on the Island

particularly exciting year for the

banks. As you’d expect security is of the

and celebrated 25 years in business last

Group,” he added.

upmost importance to them and every

year.


Announce yo new appointm ur ent!

Email text an d pic to portfolio@man x.net Deadline for next issue,

04 March!

Appleby

A

is

Appleby’s Corporate & Commercial

celebrating the addition of two

practice has also welcomed Alexandra

ppleby

Isle

of

Man

new advocates and the exam

Watterson as an associate after she was

success of two trainees as it continues

called to the Manx Bar in November

to strengthen its 126 strong team,

2013. Alexandra also joined Appleby as a

which now includes more than 30

trainee in 2011 after successfully

lawyers and 36 fiduciary staff.

completing her studies at the University

Katherine Johnson joined Appleby

of Leicester and the College of Law,

as a trainee advocate in 2011 after

Chester. During her Articles, Alexandra

success at the University of York and

gained experience in a broad range of

the College of Law, York. She was called

corporate matters including mergers

to the Manx Bar in November 2013

and acquisitions, fund and financial

following a two year Period of Articles

services, legal due diligence, banking

and achieving a commendation in the

and asset finance transactions and multi-

Manx Bar exams. Katherine will be

jurisdictional corporate restructuring.

&

“On behalf of all at Appleby I would

Commercial team and has experience

like to congratulate both Alexandra and

in a broad range of corporate matters,

Katherine on their admission to the Isle

and

including insurance and regulatory

of Man Bar,” commented Nick Verardi,

celebrating after passing the Manx Bar

advice,

and

partner and corporate & commercial

exams.

has

practice group head in Appleby (Isle of

September 2012 as trainees and are

recently returned from a four month

Man)

worked

currently completing their Period of

secondment in Appleby’s Guernsey

extremely hard during their time with

Articles. Appleby (Isle of Man) LLC

office where she strengthened her

the firm and displayed great skills and

managing partner Sean Dowling said:

multi-jurisdictional

and

knowledge. I have no doubt that they

“Andrew and Sophia should be very

worked on a number of banking and

will be an excellent addition to our

proud of their success, which they have

asset finance transactions.

expanding team and I wish them every

both worked hard for.”

based

in

Appleby’s

legal

corporate

due

Corporate

diligence,

restructuring.

She

expertise

LLC.

They

have

success during their careers with us.” Trainee advocates Sophia Wong Andrew

Newton

Both

joined

are

also

Appleby

in

Andrew Newton (Trainee Advocate), Katherine Johnson (Associate), Alexandra Watterson (Associate) and Sophia Wong (Trainee Advocate).

R 49 R

Thornton Associates

L

Chartered

role will be getting to grips with all of

Financial Planners, Thornton

the company’s analytical systems.

Associates,

ocal

firm

of

appointed

Thornton Associates have invested

Julie Owen to its core advisory team

heavily in technology over the last few

as part of its continued growth.

years - to great effect - and I am really

has

two

excited at the value I will be able to

decades of industry experience to the

add to help clients understand the

company, Julie is also one of only five

truth

advisors on the Isle of Man to have

sophisticated

achieved the status of Fellow of the

software.”

In

addition

to

bringing

about

money

using

financial

their

planning

Personal Finance Society and is a

Managing Director Sharon Sutton

Chartered Financial Planner in her

also commented on the appointment:

own right by examination.

“Whilst we remain a small and client focussed

Previously, Julie has spent 16

firm,

we

have

grown

years at Royal Skandia, working in a

substantially over the last few years to

variety of client facing roles, the last

meet the needs of our steadily

four and a half years of which were

increasing

spent

Recently this has seen us move to

working

as

a

Business

portfolio

of

clients.

Consultant to Manx financial advisory

their future in terms they set really

larger offices on Athol Street, and now

firms. This has given her significant

engages me - helping them plan their

Julie has joined us as a very welcome

insight into the local marketplace,

lives;

children,

addition to the team. I am extremely

which she intends to put to good use.

family weddings and a host of other

confident that existing and new

She commented: “My new role will

dreams which I get to help make a

clients

involve lifestyle (proper) financial

reality. It is a privilege and a

appreciate her truly significant skill

planning for clients, something which

challenge that I really appreciate.”

set and positive ambition to help them

I

consider

a

really

holidays,

homes,

rewarding

Julie continued: “One of the

endeavour. Helping people plan for

biggest challenges for me in my new

alike

will

Left: Julie Owen

immediately

identify, achieve and maintain their chosen lifestyle, whatever happens.” ISLE OF MAN

ISSUE 140

PORTFOLIO


News

|

Government

|

Features

|

Cars

|

Directory

|

Appointments

|

Lifestyle

In association with

www.hamblin.co.im T 01624 640420

Quinn Legal Right: Ruth Ledger

R

uth Ledger has joined the

Institute of Legal Executives in 1994

legal team at Quinn Legal,

and was admitted as a Fellow of the

based in Ridgeway Street,

now Chartered Institute of Legal Executives in 1996 qualifying in tort,

Douglas.

criminal, contract and civil litigation.

Ruth is Manx born and her Manx four

She has undertaken conveyancing,

generations. She returned to the Isle

probate and wills work for the past 18

of Man in 1983 with her husband after

years and recently further developed

a period in the UK and since that time

her skills in family law and is

has worked for some of the largest

currently the Chairperson of the Isle

law firms on the Island.

of Man Branch of the Chartered

heritage

stretches

back

Institute of Legal Executives.

Ruth qualified as a Member of the

Creechurch Capital Right: Stephanie Gardiner

R 50 R

C

Stephanie added: “The Creechurch

reechurch Capital – the Isle of Man-based

investment

Capital team has a stellar reputation

management boutique – has

across the Island and beyond. It’s a

boosted its team with the significant

company I have admired since I

hire of Stephanie Gardiner.

started working and I’m delighted to

Stephanie

joins

have the opportunity to be able to

Creechurch

begin working with the team there.”

Capital as a Business Development Manager from RL360 in the Isle of

From a standing start, Creechurch

Man. Bringing a wealth of experience

Capital has built a diversified client

in the investment sector to her new

base from across the UK, Middle East,

position; Stephanie will be responsible

Far East, South Africa and the Isle of

for supporting the development of the

Man. Stephanie is one of a number of

Castel Property Fund. latest

recruit of this calibre will support our

new recruits who has been taken on

appointment, John Greenwood CEO

commercial objectives in 2014. We

as part of the company’s recruitment

at

said:

truly recognise the importance of

drive to manage its growth and

talented

having a high-calibre team who share

support

displayed

our values; in a business this size,

international division. Creechurch

commitment,

each person’s contribution really

Capital has grown from a team of five

matters.”

to 20.

Riva Financial Systems have

projects. In Jo’s new role as Senior

Hakim stated “further to our recent

announced the appointment

Test Manager she is tasked with

headquarters expansion in Douglas

of Jo Vowles as Senior Test

delivering

testing

and long term commitment to the Isle

services to Riva projects. Fostering an

of Man, Riva continues to attract

environment

continual

experienced talent on the island

Provident International where she

improvement, Jo will be designing

which is integral to our success and

held the position of Test Manager,

and implementing testing process

projected growth”. Jo will be based at

managing a team of 8 acceptance

improvements

the

testers

for

located on both the Island and in

headquarters in Douglas and will

delivering testing services for a wide

Pune, India. Commenting on the new

report to Tim Leeming, Director of

variety

appointment, Riva’s CEO Ghassan

Testing and Application Support.

Commenting Creechurch

“Stephanie

is

individual

and

on

this

Capital a

truly has

commendable

dedication and motivation. A new

its

newly

launched

Riva

R

Manager. Jo

ISLE OF MAN

PORTFOLIO

ISSUE 140

joins

Riva

with of

from

Friends

responsibility

strategic

and

tactical

high

quality of

across

test

teams

Riva

Financial

Systems


Announce yo new appointm ur ent!

Email text an d pic to portfolio@man x.net Deadline for next issue,

04 March!

The Buchan School

F

rom pupil to School Head, The

in 1975 in order to pursue a passion for

Buchan School has proudly

travel and develop an inherent talent for

announced the appointment of

languages

which,

once

having

Jane Corlett to the position of Head of

graduated, she immediately put to use

the Buchan, marking the first instance

as the manager of an entire holiday

in which a former pupil has returned to

complex, but in Portugal. “But as a

lead the independent primary school

Buchan girl I simply wasn’t fazed by that

and its vision for the future.

at all,” she explained: “you simply roll up

Miss Corlett began her school career

your sleeves and draw upon that ‘can do’

at Peel Clothworkers’ School during

attitude. I stayed there for a number of

which, inspired by her older brother

years but always missed home. I do

who

believe the Isle of Man is the best place

was

already

an

academic

scholarship recipient at King William’s

in the world to live.”

College, she and a friend opted to sit the

Miss Corlett returned to the Island

scholarship exam for what was then the

in 1983 where, whilst considering a

Island’s only all-girl joint junior and

career

senior school. She was subsequently

contacted by a former teacher from the

the

awarded one of only two full boarding

Buchan with a request to assist a

independent schools across the UK.

scholarships for academic achievement

Portuguese speaking student who

Commenting on her appointment,

and,

initial

wished to complete her ‘O’ level in the

Martin Humphreys, Principal at King

trepidation, soon found herself absorbed

subject. “Again, it was just one of those

William’s

in dormitory life along with just eleven

things that grew from the smallest

appointment of Jane is the natural

other girls in her year at the Buchan’s

opportunity.

same

progression in a career which has been

Westhill

academic year the chance arose to take

deeply intertwined with the school and

over from the school’s full time teacher

its founding principles. Jane’s is a

despite

a

degree

boarding

of

premises

in

Castletown.

in

accountancy,

During

she

that

was

explained, allows for great insight into environment

and

College

culture

said:

of

“The

“Unlike today, we went to lessons in

of Spanish and French, again a former

remarkable story which demonstrates

a housing terrace on Bowling Green

teacher of mine, who was retiring – so,

her tenacity as an individual, her

Road,” Miss Corlett fondly recalls. “It

again, I rolled up my sleeves and

commitment to our pupils, and the

was very dusty, it was very creaky and a

accepted the challenge. It was such a

breadth of her teaching experience. I

little bit old in places, but the building

strange experience to be back amongst

look forward to seeing what the next

itself and also the teachers within it

my former teachers, many of whom I

chapter will bring.”

opened us up to such a range of

absolutely worshipped, and indeed

Also commenting, Miss Corlett

character that it really did help to form

some of whom I have remained in

stated: “Overall, it is of course very

us as the resourceful and confident

contact with. Whilst teaching, however,

strange to think of my journey to

Buchan girls we were to become.”

this also meant that I needed to gain a

becoming Head of Buchan, but I’m

There, whilst also embarking on her

formal teaching qualification, so I

absolutely certain that it was my time

studies, Miss Corlett discovered a talent

returned to University, this time in

here that allowed me to take advantage

for sports such as swimming, netball,

Liverpool, for a year. That was the

of the opportunities that presented

tennis, and hockey, a sport which,

beginning of my official term here, and

themselves. We all learn to stand on our

despite having never encountered

I haven’t looked back.”

feet very quickly here: there is a

before her time at Buchan, was to

Miss Corlett’s career with the school

common sense of resourcefulness, an

continue to play an important role. Miss

has since seen her assume the role of

inherent appreciation of character and

Corlett continued in her studies at the

Head of Languages at The Buchan

confidence,

Buchan, becoming school prefect at

School before moving to King William’s

encouragement and freedom to develop

Upper Sixth level, as well as Head of

College where she held the position of

which has encouraged Buchan and

House and the school Hockey Captain,

Housemistress then Head of Senior

College pupils consistently to push the

“which I was immensely proud of”, she

School,

boundaries of their own education,

enthused. “All in all, I spent seven years

appointed Vice Principal, a position

living at Westhill, and I remember,

which she has held for the past 15 years.

Miss Corlett continued: “Our vision

during the holidays, that although I

True to her Buchan roots, however, her

for the future is to continue as such, to

loved being at home with my family, I

interests do not stop there. Miss Corlett

furnish our pupils with the means to

couldn’t wait to get back to school, there

is also a motorcycle rider, licensed HGV

meet the demands of the modern

was always something to do. It is a rare

and bus driver, a former street circuit

educational and professional world in

privilege to be part of an educational

kart racer (once British Women Racing

what is increasingly a global market

environment that breeds such sentiment

Driver Club champion), community

place. Overall, it is a delight to be back

in its students, and this is something that

volunteer with the IOM Constabulary

at the Buchan and to offer our pupils the

I’m keen to maintain as Head.”

and is a qualified Independent Schools

wonderful

Miss Corlett went on to read French

Inspector with a specialism in boarding.

opportunities which I continue to

and Spanish at University in Manchester

This role in particular, Miss Corlett

appreciate.”

before

ultimately

being

and

a

climate

New Head of The Buchan School, Jane Corlett

R 51 R

of

regardless of ability.”

experiences

and

ISLE OF MAN

ISSUE 140

PORTFOLIO


News

|

Government

|

Features

|

Cars

|

Directory

|

Appointments

|

Lifestyle

Appleby

A

ppleby has announced that Partner,

Faye

Moffett,

insolvency

four partners and 16 associates.

issues

and

has

been

a

A qualified Isle of Man advocate,

recognised as a ‘Leader in her Field’ by

leading banking and finance

Faye joined Appleby in 2004 as an

Chambers UK, The Legal 500 UK and

practitioner, has been appointed as

associate before becoming a partner in

PLC Which Lawyer.

Head of the Corporate and Commercial

February 2006. She specialises in

Practice Group in the Isle of Man.

banking and finance transactions,

of

including property finance, aircraft and

commented “Faye is taking over the

Asset Finance team in the Isle of Man,

ship

has

responsibility of leading the Isle of

will be responsible for leading the

particular experience in providing

Man Corporate and Commercial

largest corporate and commercial

opinions on Isle of Man companies and

group from Nick Verardi. I would like

team on the island which comprises

on

to take the opportunity to thank Nick

Faye, who also leads the Banking &

finance

matters.

cross-border

She

security

and

Right: Faye Moffett and Sean Dowling

Sean Dowling, Managing Partner Appleby

(Isle

of

Man)

LLC

for his enormous contribution to the success and growth of Appleby to date. Whilst it is sad to see good friends leave, Nick does so with our warmest wishes.” He added, “Faye is highly respected in her field and I welcome her expertise and leadership of the team in our Isle of Man office. She will ensure that the practice group in the Isle of Man continues to offer outstanding quality of service in corporate and commercial matters to clients both in the Isle of Man and internationally.”

R 52 R

Your future is our business and no-one else’s!

We’re on the move and we think you’ll love our new location! Discreet offices On-site parking Located in the business district Hamblin House, 5 Upper Church Street, Douglas, IM1 1EA T +44 1624 640420 www.hamblin.co.im www.facebook.com/hambliniom Te m p o r a r y

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ISLE OF MAN

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ISLE OF MAN

Directory Isle of Man Airport Flight Schedules Isle of Man Airport Contact Information Isle of Man Business Directory: Accountants Advocates Banks - Licenceholders Investment Companies Life Assurance Companies Information - The Isle of Man Key locations, statistics Its Constitution Tax Allowances, Financial Incentives


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ISLE OF MAN AIRPORT FLIGHT SCHEDULES BELFAST

ISLE OF MAN - BELFAST

BELFAST - ISLE OF MAN

DEP

DEP

ARR

MTWTFSS

Tel. 0871 200 0440 www.citywing.com

0910 0945 • 1010

1050

1110

1150

• • •

1400 1440

1800 1840

BIRMINGHAM

• • • • • ••

BLACKPOOL

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1050

1100

1150

1210

1250

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1010

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1050

• •• • ••

1500 1540

• •

MTWTFSS

0820 0855 •

1700

1740

• • • • ••

1900 1940

DUBLIN Tel. 0871 718 5000 www.aerlingus.com

GLASGOW Tel. 0871 200 0440 www.citywing.com

GLOUCESTER

DUBLIN - ISLE OF MAN

MTWTFSS

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1005 1045

• • • •••

0855 0940 • • • • • •

1755

ARR 1835

••

••

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GLOUCESTER - ISLE OF MAN

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1330 1440 1820

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1240

1840 1945

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•• • •

ISLE OF MAN - LIVERPOOL

LIVERPOOL - ISLE OF MAN

DEP

DEP

ARR

1050 1130 1130

MTWTFSS •

• • • ••

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1235

1235 1315

1725

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1805

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• • • ••

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• • • • ••

ARR

0815 0855 • • • • • •

•••

1210

1620 1700

MTWTFSS

ISLE OF MAN - GLOUCESTER

1850 1930

ISSUE 140

GLASGOW - ISLE OF MAN

ARR

1845 1925

ISLE OF MAN

1645 1730

MTWTFSS

DEP

0700 0740 • • • • • •

PORTFOLIO

ARR

ISLE OF MAN - GLASGOW

1710

Tel. 0871 700 2000 www.flybe.com

DEP

0900 1010

LIVERPOOL

ISLE OF MAN - DUBLIN

0740 0850 • • • •

Tel. 0871 200 0440 www.citywing.com

BLACKPOOL - ISLE OF MAN

MTWTFSS

1900 1940

MTWTFSS

1055 1150

ISLE OF MAN - BLACKPOOL DEP

ARR

0715 0810 •

0725 0800

Tel. 0871 200 0440 www.citywing.com

1010

ISLE OF MAN - BIRMINGHAM 0835 0930 • • • • •

Tel. 0871 700 2000 www.flybe.com

MTWTFSS

1500 1540

••

1600 1640

ARR

0815 0850 • • • • •

0725 0800 • • • • •

1955 2035 • • • • •

• •


In association with

Book online: citywing.com

ISLE OF MAN - LIVERPOOL

LIVERPOOL - ISLE OF MAN

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DEP

ARR

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ARR

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0850 1925

0745 0825

1220 1640

• •

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••

ISLE OF MAN - LONDON CITY

LONDON CITY - ISLE OF MAN

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ARR

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1110

1215

1300 1415

MTWTFSS

MTWTFSS

0930 1035

1120

•• • ••

1430 1535

ARR

1225

1250 1355

LONDON GATWICK - ISLE OF MAN

DEP

DEP

MTWTFSS

0855 1025

0645 0820 • • • • • • 0800 0925

0950 1115

• • • •••

1350 1515

• • • ••

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1840

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1315

1545 1710 1910

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• • • ••

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ARR

1120

1235

1305 1420 1630 1745

• •

••

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1445 1600

1610

MTWTFSS ••

MANCHESTER - ISLE OF MAN DEP

1010 1515

1035 1120

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1100

1335 1425 1605

1125

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1210

1655 1740

•• • •• • • • ••

2010 2100

MTWTFSS

1450 1535

1605 1655 1850 1940

ARR

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Tel. 0905 821 0905 www.easyjet.com

MANCHESTER

• • • • • ••

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NEWCASTLE - ISLE OF MAN

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ARR

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1200

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2020 2105

••

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1735

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MTWTFSS

LONDON GATWICK

• •

ISLE OF MAN - MANCHESTER ARR

Tel. 0871 700 2000 www.flybe.com

DEP

MTWTFSS

LONDON GATWICK

ISLE OF MAN - LONDON GATWICK ARR

Tel. 0844 493 0787 www.ba.com

• • • • •••

2035

1930 2100

LONDON CITY

• • • •••

0955 1125 1145

• • • • ••

ARR

Tel. 0905 821 0905 www.easyjet.com

• •• • ••

ISLE OF MAN - LONDON GATWICK ARR

LIVERPOOL

NEWCASTLE

MTWTFSS •

1545 1645

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ISLE OF MAN AIRPORT CONTACT INFORMATION Information Desk

01624 821600

Administration

01624 821601 (9-5 Mon-Fri)

Facsimile

01624 821611

Email

admin@iom-airport.com

Website

www.iom-airport.com

IOM Customs & Excise

01624 648110

Airport Security

01624 821612 (24 Hours)

Restaurant and Bar

01624 823538 (Caterleisure Ltd)

Airport Advertising

01624 620440 (IOM Advertising)

Car Hire

Athol Car Hire 01624 820092 www.athol.co.im Mylchreests 01624 823533 www.mylchreests.com IOM Rent-a-Car 01624 825855 www.iomrac.com

ISLE OF MAN

ISSUE 140

PORTFOLIO


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Directory

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REFERENCE NEWS | L i f e s t y l e

Appointments

ISLE OF MAN BUSINESS DIRECTORY ACCOUNTANTS Alder Dodsworth & Co., 22 Athol Street, Douglas. Tel. +44 1624 622865

Ambitions Ltd, 26 Finch Road, Douglas. Tel. +44 1624 614841

Baker Tilly Isle of Man, P.O. Box 95 2a Lord Street Douglas Tel. +44 1624 693900 info@bakertillyiom.com

BDO (Isle of Man) LLC, Analyst House, 20-26 Peel Rd., Douglas. Tel. +44 1624 652000 mail@pkfiom.com

Boothmans, Millennium House, Victoria Road, Douglas. Tel. +44 1624 611926 bca@boothmans.com

Nicola Bowker & Co., Commissioners Offices, New Road, Laxey. Tel. +44 1624 861271

Browne Craine & Co, Burleigh Manor, Peel Road, Douglas. Tel. +44 1624 629369 burleigh_manor@mcb.net

Callin & Co, 6-7 Fort William, Head Road, Douglas. Tel. +44 1624 675528 callin@manx.net

Callow Matthewman & Co, Atholl House, 29/31, Hope Street, Douglas. Tel. +44 1624 622752 Ramsey Office Tel 814494

Celtic Associates Ltd, Chartered Accountants, One, The Parade, Castletown. Tel: +44 1624 822022 Email: email@celt.im

John Clarke & Co, Ragnall House, Peel Road, Douglas. Tel. +44 1624 661821 gentrex@mcb.net

R H Corkill & Co. Ltd, 10 Auckland Terrace, Ramsey. Tel. +44 1624 816921

Corlett & Co, Ellan Vannin Cottage, Baldrine. Tel. +44 1624 861060

Crossleys, P. O. Box 1, Portland House, Station Road, Ballasalla. Tel. +44 1624 822816

Crowe Clark Whitehill, 6th Floor, Victory House, Prospect Hill, Douglas. Tel. +44 1624 627335 mail@crowecw.im

David Gelling & Associates, 44 Main Road, Onchan. Tel. +44 1624 615500

Deloitte LLP, The Old Courthouse, Athol Street, Douglas. Tel. +44 1624 672332

Edwards & Hartley, Peregrine House, Peel Road, Douglas. Tel. +44 1624 622302 edwardsandhartley@manx.net

Evolution Accounting Ltd., West Suite, Ragnall House, 18 Peel Road, Douglas. Tel: +44 1624 611160 accounting@evolution.co.im

J. C. Fargher, Ballafreer House, Union Mills. Tel. +44 1624 851190

Finnie & Co, 6, Goldie Terrace, Douglas. Tel. +44 1624 621523 finnies@altavista.com

Ernst & Young, Rose House, 51-59 Circular Road, Douglas. Tel. +44 1624 691800 www.ey.com/im

Douglas & Co, Suite 2, Broadway House, 8-10 Broadway, Douglas. Tel. +44 1624 628571

R 56 R

Crowe Morgan, 8, St George’s Street, Douglas. Tel. +44 1624 665100 admin@crowemorgan.co.im

Fowler & Co., First Floor, Norton House, 41 Arbory Street, Castletown. Tel. +44 1624 827848

Fryers Bell & Co, 27, Athol Street, Douglas. Tel. +44 1624 639850 fryers_bell@manx.net

Galloway Smith & Co, 9, Hope Street, Douglas. Tel. +44 1624 661800 ocs@advsys.co.uk

Grant Thornton, 3rd Floor, Exchange House 54/58 Athol Street Douglas Tel: 44+ 1624 639494 gtiom@grantthornton.co.im

A. M Gerrard, 34 Athol Street, Douglas. Tel +44 7624 490720

Greystone LLC, 18 Athol Street, Douglas. Tel +44 1624 620711 mail@greystone.im

Harding Lewis Ltd, 34 Athol Street, Douglas. Tel +44 1624 679524

R. P. Harker, Maskani Yetu, Garey Close, Foxdale Tel. +44 1624 675450

Haven Administration Ltd, 28 Victoria Street, Douglas. Tel. +44 1624 625793

K G Hegarty & Co., Peregrine House, Peel Road, Douglas. Tel. +44 1624 622118

HF Accounts, Fairview, Cronk Road, Port St Mary. Tel. +44 1624 835735

David J. Hill & Co, Museum Buildings, Church Road, Port Erin. Tel. +44 1624 833776

Chris Hollingworth, 20 Finch Road, Douglas. Tel +44 7624 433346

ICM Accounting, Prospect Chambers, Prospect Hill, Douglas. Tel +44 1624 682400

In Safe Hands Business Services 75 Bucks Road Douglas, IM1 3EF Tel. +44 1624616133 contact@insafehands.im

J B Quirk BSc FCCA, Milbourn House 13 St. George's Street Douglas. Tel. +44 1624 616660

Jessup & Co, 44 Athol Street, Douglas. Tel. +44 1624 625666

Jones & Co, Penthouse Suite, Analyst House, Peel Road, Douglas. Tel. +44 1624 617344

L. G. Kelly, Parkfield, Glencrutchery Road, Douglas. Tel. +44 1624 611019

Peter D. Lace, 18 Hope Street, Douglas. Tel. +44 1624 661640

M. G. Accountancy & Taxation, PO Box 372, Douglas. Tel. +44 1624 619022 mgcomp@manx.net

J. H. Maddrell ACA, 1, Meadowfield, Port Erin. Tel. +44 1624 833535 jhj@mcb.net

Martin Associates Ltd, Meadowcroft, Ballabrooie Road, Peel. Tel. +44 1624 845343

PO Box 25, 26-28 Athol St, Douglas, Isle of Man IM99 1BD +44 (0) 1624 662020 mail@msiom.com www.msiom.com

Noble & Co, Abacus House, Mona Street, Douglas. Tel. +44 1624 624633 abacus@manx.net

Julie Oates, 2 Camlork Place, Union Mills. Tel. +44 1624 852552

Paul & Co, 5 Market Place, Peel. Tel. +44 1624 844188

KPMG, Heritage Court, 41, Athol Street, Douglas. Tel. +44 1624 681000 mfayle@kpmg.com Matthew Edwards & Co, Clinch’s House, Lord Street, Douglas Tel. +44 1624 663166 audit@matthew-edwards.com PricewaterhouseCoopers LLC, Sixty Circular Road, Douglas. Tel. +44 1624 689689

PurpleAccounts, Salisbury House, Victoria Street, Douglas. Tel: +44 1624 618002 enquiries@purpleaccounts.com

Sabre Management Services Ltd, 2nd Floor Anglo International House Lord Street Douglas. Tel. +44 1624 629409

Shannon Callister & Co, Shannon Court, Bowring Road, Ramsey. Tel. +44 1624 812343

Shimmin Wilson & Co, 13-15 Hope Street, Douglas. Tel. +44 1624 627744

SMP Accounting & Tax Limited Clinch’s House Lord Street Douglas Tel: +44 (0) 1624 683229 info@smppartners.com

T Leach & Co, Bradda House, Bradda Road, Port Erin. Tel. +44 1624 832891

TABS, Rechabite Hall, Allan Street, Douglas. Tel. +44 1624 674913

Thomas & Company, 36, Finch Road, Douglas Tel. +44 1624 670577

Thompsons, 1st Floor, Royal Trust House, 60-62 Athol Street, Douglas. Tel. +44 1624 611108

E Thom, 47 Buttermere Drive, Onchan. Tel. +44 1624 613782

W T Tickle & Co., 24 Finch Road, Douglas. Tel. +44 1624 627772

Michael Turner & Co, 17 Hope Street, Douglas. Tel. +44 1624 629619 mbturner@manx.net

WFZ Services Ltd, 2 Ballanawin, The Strang, Union Mills. Tel. +44 1624 852198

David Wilcock B.Com, FCA, Pine View, Glen Vine Road, Glen Vine. Tel. +44 1624 855110 david.wilcock@manx.net

T. P. Winnell & Co,, 7, Hill Street, Douglas. Tel. +44 1624 670022 mail@fiscalservices.co.im

R G Wright, 71 Circular Road, Douglas. Tel. +44 1624 674894

ISLE OF MAN

PORTFOLIO

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In association with

ADVOCATES Advocates Smith Taubitz Unsworth Limited, Barrule Chambers, 36 Finch Road, Douglas. Tel +44 1624 677888 reception@advocates.co.im

Appleby, 33-37 Athol Street, Douglas. Tel. +44 1624 647647 www.applebyglobal.com IOM@applebyglobal.com

Marie Ashworth, 2nd Floor, Harbour Mews, Parliament Square, Castletown. Tel. +44 1624 822880

BridsonHalsall, 20 Athol Street, Douglas. Tel. +44 1624 614422 www.iomlaw.com

Cains, Fort Anne, Douglas. Tel. +44 1624 638300 law@cains.com

Cains Gordon Bell, Auckland Chambers, Auckland Terrace, Ramsey. Tel. +44 1624 811311

Callin Wild, Bank Chambers, 15-19, Athol St, Douglas. Tel. +44 1624 623195 www.callinwild.com mail@callinwild.com

Carter’s, Court View Chambers, 12 Mount Havelock, Douglas. Tel. +44 1624 662809

Carter Jones McDonald, Athol Chambers, 21, Athol Street, Douglas. Tel. +44 1624 629627

Conti, 17, Circular Road, Douglas. Tel. +44 1624 670003 www.contiadvocates.com

Corbridges, Chancery House, 22 Finch Road, Douglas. Tel. +44 1624 690060

Nigel M Cordwell, 2nd Floor Suite, 6 Hill Street, Douglas, Tel. +44 1624 677277

Corlett Bolton & Co., 4, Finch Road, Douglas. Tel. +44 1624 676868 mail@corlettbolton.com

Dickinson Cruickshank Ramsey, Masonic Buildings, Water Street, Ramsey. Tel. +44 1624 812107

Dougherty Quinn, The Chambers, 5 Mount Pleasant, Douglas. Tel. +44 1624 626999 info@dq.im

Gelling Johnson Farrant, 24, Athol Street, Douglas. Tel. +44 1624 675367

Hannan Law 5 Hill Street Douglas Tel: +44 1624 628900 mail@hannanlaw.im

Jones & Co, Finch Chambers, 28 Finch Road, Douglas. Tel. +44 1624 629200

Laurence Keenan, Victoria Chambers, 47, Victoria Street, Douglas. Tel. +44 1624 611933 info@lklaw.co.im

Kerruish Law & Trust, 5th Floor, Anglo International House, Bank Hill, Douglas. Tel. +44 1624 623919

Long & Humphrey, The Old Courthouse, Athol Street, Douglas. Tel: + 44 (0)1624 651951

Kelly, Luft, Stanley & Ashton, 2 Sydney Mount, Douglas. Tel. +44 1624 674316

Ian Kermode, Court View Chambers, 14 Albert Street, Douglas. Tel. +44 1624 611117 mail@ik.im

M&P Legal, New Court Chambers, 23-25 Bucks Road, Douglas. Tel. +44 1624 695800 law@mplegal.im

MannBenham Advocates Ltd, 49 Victoria Street, Douglas. Tel. +44 1624 639350 enquiries@mannbenham.com

Old Court Chambers, Eight Finch Road, Douglas. Tel: +44 1624 641580 info@oldcourtchambers.im

Pringle Law, Victoria Court, 16 Athol Street, Douglas. Tel. +44 1624 612200

Quinnlegal, 30 Ridgeway Street, Douglas. Tel. +44 1624 665522 mail@quinnlegal.im

Simcocks, Ridgeway House, Ridgeway Street, Douglas. Tel. +44 1624 690300 mail@simcocks.com

Judy Thornley, Beach House, Bay View Road, Port St Mary. Tel. +44 1624 833708

Turnbull Advocate, 1st Floor, Exchange House, 54-58 Athol Street, Douglas. Tel. +44 1624 614516

Laurence Vaughan-Williams, Museum Buildings, Church Road, Port Erin. Tel. +44 1624 836757 barrister@manx.net

Lawrence J Weatherill, 20 Athol Street, Douglas. Tel. +44 1624 674994

John Wright, 16 Willowbrook Gardens, Douglas. Tel. +44 1624 611999

R 57 R

BANKS - LICENCEHOLDERS AIB Bank (CI) Ltd, Isle of Man Branch, 10, Finch Road, Douglas. Tel. +44 1624 639639 one@aib.im

Anglo Irish Bank Corporation (International) PLC Jubilee Buildings Victoria Street Douglas Tel. +44 1624 698000

Bank of Ireland (Isle of Man) Ltd, P. O. Box 246, Christian Road, Douglas. Tel. +44 1624 644200 www.boioffshore.com

Bank of Scotland PLC, PO Box 19, Evergreen House, 43 Circular Road, Douglas. Tel. +44 1624 644000 offshore_enquiries @bankofscotland.co.uk

Barclays Bank PLC, Eagle Court, Circular Rd, Douglas. Tel. +44 1624 684444 iom@offshorebanking.barclays.com

Barclays Private Bank & Trust (Isle of Man) Limited, 4th Floor, Queen Victoria House Victoria Street Douglas. Tel. +44 1624 682828

Barclays Private Clients International Ltd, PO Box 9, Barclays House, Victoria Street, Douglas Tel. +44 1624 684444

Britannia International Ltd, Britannia House, Athol Street, Douglas. Tel. +44 1624 681100 enquiries@britanniainternational.com

Cayman National Bank & Trust Company, 4-8 Hope Street, Douglas. Tel. +44 1624 646900 banking@cnciom.com

Conister Bank Ltd, Clarendon House, Victoria Street, Douglas. Tel. +44 1624 694694

Duncan Lawrie (IOM) Ltd, 14/15 Mount Havelock, Douglas. Tel. +44 1624 620770 iom@duncanlawrie.com

Habib European Bank Ltd, 14 Athol Street, Douglas. Tel. +44 1624 622554

HSBC Bank PLC, HSBC House, Ridgeway Street, Douglas. Tel. +44 1624 684840

Isle of Man Bank Ltd, 2, Athol Street, Douglas. Tel. +44 1624 637000

Kleinwort Benson Bank (IOM) Ltd, St George’s Court, Upper Church Street, Douglas Tel. +44 1624 643270 www.closewm.com bankingiom@closewm.com

Lloyds TSB Offshore Ltd., PO Box 111, Peverial Buildings, Douglas. Tel. +44 1624 638200

Merrill Lynch Bank & Trust Co. (Cayman) Ltd, Circular Rd, Douglas. Tel. +44 1624 688600

Nationwide International Ltd, Samuel Harris House, St George’s Street, Douglas. Tel. +44 1624 696000

Nedbank Private Wealth Ltd, St Mary’s Court, 20 Hill Street, Douglas. Tel. +44 1624 645000

Permanent Bank International Ltd., Hillary House, Prospect Hill, Douglas, Tel. +44 1624 673373 info@permanent-bank.com www.permanent-bank.com

RBS Coutts Bank (Manx) Ltd, PO Box 59, Royal Bank House, 2 Victoria Street, Douglas. Tel. +44 1624 632222

Santander UK PLC PO Box 123 19/21 Prospect Hill, Douglas Tel 01624 641888 enquries@santander.co.im

Standard Bank (IOM) Ltd, Standard Bank House, One Circular Road, Douglas. Tel. +44 1624 643643 www.sboff.com sbiom@standardbank.com

The Royal Bank of Scotland International Ltd, Royal Bank House, 2 Victoria Street, Douglas. Tel. +44 1624 646464

The Royal Bank of Scotland Trust Company (IOM) Ltd., Royal Bank House, Victoria Street, Douglas. Tel. +44 1624 646464

The Standard Bank of South Africa, Standard Bank House, One Circular Road, Douglas. Tel. +44 1624 643643 www.sboff.com sbiom@standardbank.com

Zurich Bank International Ltd, PO Box 422, 43-51 Athol Street, Douglas. Tel. +44 1624 671666 ISLE OF MAN

ISSUE 140

PORTFOLIO


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REFERENCE NEWS | L i f e s t y l e

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ISLE OFMAN MAN BUSINESS DIRECTORY ISLE OF BUSINESS DIRECTORY INVESTMENT COMPANIES

R 58 R

Abacus Trust Company Ltd, Sixty Circular Road, Douglas. Tel. +44 1624 689600

AXA WF Distibutors (IOM) Ltd, Royalty House, Walpole Ave, Douglas. Tel. +44 1624 643333

BlackRock (Isle of Man) Ltd 3rd Floor, Atlantic House, Circular Road, Douglas. Tel. +44 1624 662255

Capital International Ltd, Capital House, Circular Road, Douglas. Tel. +44 1624 654200 info@capital-iom.com www.capital-iom.com

Caledonian Fund Services (Europe) Ltd, PO Box 172, 4th Floor One Circular Road, Douglas www.caledonian.com Tel: +44 1624 640150.

CMI Fund Managers (IOM) Ltd, Clerical Medical House, Douglas. Tel. +44 1624 638888

Collins Stewart (CI) Ltd, Anglo International House, Bank Hill, Douglas. Tel. +44 1624 690100

Creechurch Capital Limited, Knox House, 16-18 Finch Road, Douglas. Tel: +44 (0) 653800 info@creechurchcapital.com

Fedelta Trust Limited, 29-31 Athol Street, Douglas. Tel. +44 1624 622331 mail@fedelta.com

Fortis Fund Services Ltd, P.O. Box 156, 18-20 North Quay, Douglas. Tel. +44 1624 688300 fundservices@im.fortisbank.com

Fund Management Services Ltd, P.O. Box 156, 18-20 North Quay, Douglas. Tel. +44 1624 688300 fundservices@im.fortisbank.com

GAM Administration Ltd, 11 Athol Street, Douglas. Tel. +44 1624 632632 info@gam.com

Isle of Man Assurance Ltd., IOMA House, Hope Street, Douglas. Tel. +44 1624 681200 ioma@ioma.co.im

Kleinwort Benson Bank (IOM) Ltd, St George’s Court, Upper Church Street, Douglas Tel. +44 1624 643270 www.closewm.com bankingiom@closewm.com

Laxey Partners Ltd, 4th Floor, Derby House, 64 Athol Street, Douglas. Tel +44 1624 690900

Lloyds TSB Independent Financial Advisers Ltd, P. O. Box 12, Peveril Buildings, Peveril Square, Douglas. Tel. +44 1624 641741

Lorne House Trust Limited, Lorne House, Castletown. Tel. +44 1624 823579

Maitland Management Services (IOM) Ltd, Falcon Cliff, Palace Road, Douglas. Tel. +44 1624 630000

Neville James Fund Managers Ltd, Park House, Isle of Man Business Park, Douglas. Tel. +44 1624 670500

Nedgroup Investments (IOM) Ltd., 1st Floor, Samuel Harris House, 5-11 St George’s Street, Douglas. Tel. +44 1624 645150 nedgroupinvestments.com

Ramsey Crookall & Co, Securities House, 38-42 Athol Street, Douglas. Tel. +44 1624 673171 dealers@ramseycrookall.com

RBSI Fund Administration Ltd., PO Box 151, Royal Bank House, Victoria Street, Douglas. Tel. +44 1624 646464

Royal Bank of Scotland Trust Company (IOM) Ltd, PO Box 151, Royal Bank House, Victoria Street, Douglas. Tel. +44 1624 646464

Sabre Management Services Ltd, 2nd Floor Anglo International House Lord Street Douglas. Tel. +44 1624 629409

SMP Fund Services Limited Clinch’s House Lord Street Douglas Tel: +44 (0) 1624 683229 info@smppartners.com

Thomas Miller Investment (Isle of Man) Limited, Level 2, Samuel Harris House, 5-11 St Georges Street, Douglas. Tel +44 (0) 1624 645200 tminvestment.com

LIFE ASSURANCE COMPANIES AXA IOM Ltd, Royalty House, Walpole Ave, Douglas. Tel +44 1624 643333

CLI Institutional Limited Ltd., Canada Life House, Alexandra Road, Castletown. Tel. +44 1624 820200 info@canadalifeint.com

Canada Life International Ltd., Canada Life House, Alexandra Road, Castletown. Tel. +44 1624 820200 info@canadalifeint.com

CMI Insurance Company Ltd, Clerical Medical House, Victoria Road, Douglas. Tel. +44 1624 638888

Friends Provident International Ltd, Royal Court, Castletown. Tel +44 1624 821212

Global Life Assurance Limited, St George’s Court, Upper Church Street, Douglas. Tel. +44 1624 618611

Hansard International Ltd, Harbour Court, Lord Street, Douglas. Tel. +44 (0) 1624 688000

HPB Assurance Limited, IOMA House, Hope Street, Douglas. Tel +44 1624 681200 info@hpba.co.im

IntegraLife International Limited, Barbican House, 8-10 Malew Street, Castletown. Tel +44 1624 825986

Isle of Man Assurance Group, IOMA House, Hope Street, Douglas. Tel +44 1624 681200

LCL International Life Assurance Company Limited, St George’s Court, Upper Church Street, Douglas. Tel +44 1624 683683

Nordea Life & Pensions Ltd, Island House, Isle of Man Business Park, Douglas. Tel. +44 1624 694444

RL360 Insurance Company Limited RL360 House, Isle of Man Business Park, Douglas Tel. +44 1624 681681 csc@rl360.com

Royal Skandia Life Assurance Ltd, PO Box 159, Skandia House, King Edward Road, Onchan. Tel. +44 (0) 1624 655555

Zurich International Life Ltd, 43-51 Athol Street, Douglas, Tel. +44 1624 662266

Whilst every effort has been made to ensure that this directory is as comprehensive as possible, the Publishers cannot take responsibility for any errors or omissions contained herein.

ISLE OF MAN

PORTFOLIO

ISSUE 140


INFORMATION Ramsey

Peel

Douglas

Port Erin

Castletown

R 59 R

THE ISLE OF MAN . . . Capital

Douglas

Population

80,058

Land Area

572 sq km - 227 sq ml

Population density

133 people/sq km (336/sq mile)

Location

Irish Sea, 50km (31 miles) from Ireland, 50km from UK

Longest River

Sulby, 17km - 10.5 miles

Highest Peak

Snaefell, 621 metres, 2036 feet

Head of State

Her Majesty the Queen, Lord of Mann

Lieutenant Governor

His Excellency Mr Adam Wood

A Global Partner

Taxation allowance

Chief Minister

Hon Allan Bell MHK

President of Tynwald

Hon Clare Christian MLC

Speaker of House of Keys

Hon Steve Rodan SHK

Dept of Economic Development

The Isle of Man is a leading international business centre renowned for its innovation, professionalism and long standing policy of positive engagement with international initiatives and standards. The Isle of Man operates a policy of low taxes with a standard rate on individuals of 10%, a higher rate of 20% and generous personal allowances. There is a cap of £120,000 on the amount of income tax payable by an individual each year. The Isle of Man strives to be a model of political stability and financial supervision and has long been committed to international standards of tax transparency. There is no capital gains tax, wealth tax, stamp duty, death duty or inheritance tax. Single Person: £9,300 Married Couple: £18,600 Additional Personal Allowance: £6,400 The Department of Economic Development’s financial assistance scheme offers support to qualifying businesses (up to): 40% equipment grants 40% building grants either for new build or for rents payable; 40% revenue grants

www.gov.im ISLE OF MAN

ISSUE 140

PORTFOLIO


ISLE OF MAN

Lifestyle In association with

A Week in the Life: TBA Gig Guide: Your Guide to the hottest acts appearing in Belfast, Liverpool, Manchester and London Q&A: Jonathan Bugbird, Senior Manager, Premier Banking, Lloyds Life During Wartime: New Exhibition at the Manx Museum commemorates the 100th Anniversary of World War One


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NEWS |

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Lifestyle

A Week in the Life Neil Wardrobe is a Sales / New Business Development Manager for Douglas based commercial printers Words & Spaces. Born and raised in Hull, East Yorkshire, Neil spent most of his teens and twenties either training for or playing both local Rugby Union and professional Rugby League for Hull Kingston Rovers. Neil originally came to the Isle of Man in September 2002 on an initial six month contract working as a Materials Control Manager on the construction of the gasfired power station in Douglas. He met his partner, Julie Smollen, on his first weekend here and, once contracts on the power station came to an end, he had already made the decision that this is where he wanted to stay. Staying in the Isle of Man meant a career change for Neil and he secured a position at local Marketing and Design Agency, EDL, working in sales and account management. After some time Neil moved to another local Agency, Home Strategic and, after three years, moved to Words & Spaces where he has now worked for nearly two and a half years.

R 62 R

I’ve been working the door at Artisan for a couple of years and I thoroughly enjoy it. It’s like going out but without the expenditure.

ISLE OF MAN

PORTFOLIO

ISSUE 140

MONDAY

day correspondence with existing

the BNI it has proven invaluable in

customers is via email so processing

growing my on island network of

Mondays generally start in a blind

new orders that are constantly coming

business

panic eventually dragging myself out of

in in a timely manner to get them into

introductions into local companies.

bed after leaving it as late as possible

the

very

The BNI meeting itself is usually

to get up, I’m really not a fan of Monday

important so we are all constantly

finished by no later than eight thirty

mornings!! After charging around

monitoring emails throughout the day.

but the majority of members stay

trying to make sure the boys are ready

Early

an

afterwards for half an hour or so to

for school and that they’ve had

appointment with a customer for coffee

network and personally I feel this is

breakfast it’s in to work and straight in

and a catch up in Coffee Republic to

where the most beneficial information

to the first production meeting of the

discuss a couple of forthcoming jobs.

is shared amongst the members. It’s

week. The production meetings are

After work it’s straight over to a friend’s

straight to the office after the meeting

absolutely key to everybody being fully

unit just across from Words & Spaces

and into the inbox to see what needs

up to speed on what work we have in

for an hour of Cross Fit which

addressing before an afternoon of

the building, what work we know is

invariably nearly kills me but bizarrely

telephone

coming in and most importantly what

feels great at the same time!

appointments with existing customers

the deadlines are for each individual

production

afternoon

schedule

and

I

is

have

contacts

calls

and

to

gaining

arrange

and potential customers. Julie works

job. We follow up the production

TUESDAY

meeting with a sales and business

My working day on a Tuesday starts

work it is straight home for tea with the

development meeting which generally

much earlier with a Business Network

boys and Julies mum before giving her

focuses on appointments already in the

International (BNI) meeting which

a lift home to Onchan, Julie’s mum is

diary for the coming week and new

starts at 7am at The Palace Hotel on

an absolute godsend looking after Jack

business opportunities within the

Douglas Promenade so my alarm

and Max on a Tuesday after school. It’s

marketplace and how we plan to

usually wakes me with a start at 6

then back home to make sure the boys

approach them. Today we are also

o’clock. The BNI meeting is exactly as

have done their homework and get

discussing how our new website is

the name suggests a group of Isle of

them ready for bed. Julie doesn’t

coming along and what additional

Man based businesses that meet every

usually get home until around nine

content is required to get it completed

Tuesday morning and, following the

thirty on a Tuesday and after my early

and on line. Once all the meetings are

proven BNI structure, discuss the

start and her late night we are usually

done and dusted it’s time to catch up on

different business introductions we are

both pretty tired and it’s usually an

my emails. The majority of my day to

individually looking for. Since joining

early night.

until late on a Tuesday evening so after


WEDNESDAY A different start to the day again today as I’m up at 7am but this morning it’s in an attempt to get fitter and lose some weight so it’s downstairs and on to the Cross Trainer for half an hour of torturing myself. When I’ve eventually

discuss ideas for a new menu format,

but if I’m honest I actually quite enjoy

we eventually come up with several

seeing how they have both progressed

concepts so it’s back to the office to

so well. It’s then a quick breakfast

make up some dummies in various

before continuing my day of being

different papers for them to consider.

‘Taxi for the kids’ by taking Max to The

Having been out for some time I arrive

Broadway Theatre Company for his

back to a full inbox to action before

drama class before picking him up and

going home.

later on taking Jack to the same for his

managed to regain my breath and cooled off it’s time to get the rest of the family up. Upon arrival at the office we are quickly into our second production meeting of the week. Following the meeting the morning’s routine is much the same as usual going through emails and arranging appointments. After lunch I meet with an existing customer at their offices on Athol Street to see if between us we can conjure up a suitable solution for the consolidation of several marketing documents into one that can also be designed and printed in time for a conference in the UK in less than ten days time. Happily we manage to come up with a fantastic

class. Both the boys have been going to

FRIDAY

The Broadway Theatre Company for a

Friday starts with the last production

few years now and the work that Carrie

meeting of the week where primarily

does with is absolutely fantastic, Max

we discuss any issues that have arisen

was fortunate to appear in the movie

during the week and start planning for

Ashes alongside Ray Winstone playing

the work coming in next week. This is

his grandson and Jack managed to

followed by a catch up with my

land the part of the Artful Dodger in the

colleague Greg on how the week has

Ballakermeen High school production

progressed from a sales and business

of Oliver. They are both also studying

development perspective. Both of these

for their LAMDA exams with Carrie.

weekly review meetings allow us all to

The rest of my Saturday is taken up

have

to

with catching up on some housework

continuous improvement and also

before Julie gets home then it’s back

plans moving forward so that we are all

into my doorman’s role for the evening

“singing from the same song sheet” to

at Artisan.

an

input

with

regards

coin a much maligned sales phrase of a past colleague. Soon after I head out

SUNDAY

to lunch with a customer at my

I have to say that Sunday is without

favourite restaurant on the island,

doubt my favourite day of the week!

Macfarlanes in Douglas. As always the

Julie is usually lovely enough to let me

food is absolutely fantastic and the

have a bit of a lie in and today I woke

welcome of Roy and Sheila is as

up to the smell of a Full English being

welcoming as ever. For what seems

prepared. After brunch it’s a bit of lazy

like quite some time we have no Friday

morning for a couple of hours before

last minute panic jobs to get rushed

me and the boys get ready to go to

through so after addressing any

rugby. Both Max and Jack play for

outstanding emails that have come in

Douglas Rugby Club and I coach the

whilst I’ve been out of the office it’s

Under 13’s team that Jack plays for. I

nice to sit and have a relaxed catch up

only

with the rest of the Words & Spaces

volunteered

team.

informal

thoroughly enjoy giving something

discussion about the week gone by and

back to the game that I got so much

more importantly the weekend ahead

pleasure from as a player and made so

some little gems of ideas come up from

many long lasting friendships all over

some of the guys that aren’t involved in

the world through and I have recently

the regular production and sales

completed my Level 2 Coaching

meetings and this certainly proven the

Qualifications. I am very proud to say

old adage that a good idea can come

that we have managed to develop a

In my new found enthusiasm for trying

from anywhere. Upon heading home

squad of almost thirty players for the

to get fit and slimmer I’m up again

for tea it’s getting nearer the time to

under 13’s and they regularly compete

before work and on the cross trainer

change into my pseudonym of Neil the

in the local fixtures and against visiting

but after about fifteen minutes I’m

doorman at Artisan in Douglas. I’ve

teams from the UK, we have also been

starting to feel like it’s maybe not the

been working the door at Artisan for a

away with them to the UK already this

best idea as my legs are really

couple of years now with my trustee

year and they where impeccably

struggling.

ubiquitous

sidekick Daryl and I thoroughly enjoy

behaved and as always, a pleasure to

recovery period is required before

it, it’s like going out but without the

coach. We had a great turn out for

getting Julie and the boys up and ready

expenditure. We have a great crowd of

todays training session even though

for the day. I have a coffee and a catch

regulars who are always good for a

the weather was, to say the least,

up with a customer at Coffee Republic

chat and a few laughs and as Daryl is

somewhat inclement but everyone

on my way into the office and then it’s

as mad about rugby as I am we are

went home with smiling and very

into the usual morning of working

never short on conversation either.

muddy faces. After rugby it’s time to

through

it’s

When the evening is finally over it’s

head home to get clean and warm and

downstairs to help the guys in finishing

home and I finally get to bed at around

upon arrival it’s fantastic to be greeted

where it’s all hands on deck to get an

2am.

by the unmistakable smell of Julie

idea that the Directors are extremely happy with so it’s back to the office to brief Joby in pre press as to what is required and what has been agreed with the customer. Generally this is where Joby tells me how I’ve “over promised to the client” and I “don’t appreciate how much time is required to

achieve

what

I’ve

promised”

however I am one hundred percent confident that the guys will pull out all the stops to deliver. Wednesday nights are Cross Fit again and after the cross trainer at home this morning my legs are telling me that it might not be a good idea but there’s no wimping out tonight and afterwards I kind of feel like my legs might have been right. Home for tea and the usual mid week evening routine.

THURSDAY

Again

my

the

emails

before

urgent job completed before the

Although

it’s

an

got

involved me

because initially

R 63 R

Jack

but

I

Sunday is without doubt my favourite day of the week! Julie is usually lovely enough to let me have a bit of a lie in . . .

cooking one of her trademark roast

required lunch time delivery deadline.

SATURDAY

It’s not too often I have to get my hands

Unfortunately after working until the

Julies roast dinners is that afterwards

dirty on the shop floor as it where but

early hours Saturday is a bit of an early

it is very difficult to move, she does

needs must and everybody pulls

start. Both Jack and Max are at Silver

have a tendency to overdo it a bit so the

together to not let the customer down.

Sharks Swimming at eight thirty in the

week is rounded if with us all watching

My afternoon starts with another

morning and as Julie works Saturdays

a movie in front of a nice coal fire and

customer appointment in Douglas to

it falls to me to get up and take them

then bed.

chicken dinners. The only thing about

ISLE OF MAN

ISSUE 140

PORTFOLIO


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GIG

GUIDE

R 64 R

BELFAST

Odyssey Arena www.odysseyarena.com

ISLE OF MAN

PORTFOLIO

ISSUE 140

Lifestyle

Beyoncé, bringing The Mrs. Carter Show back to The O2 Arena on 28 February and 1, 2, 4, 5 & 6 March. Prior to this, she appears in Manchester 25-26 February

LIVERPOOL MANCHESTER

Echo Arena MEN Arena www.echoarena.com www.phones4uarena.co.uk

LONDON

O2 Arena www.the O2.co.uk

Ellie Goulding 02 Mar

Aussie Pink Floyd 01 Mar

Avicii 20 Feb

Beyonce 01-02, 04-06 Mar

Russell Howard 08 Mar

Ellie Goulding 08 Mar

Beyonce 25-26 Feb

Ellie Goulding 09 Mar

The Wanted 25 Mar

Jack Whitehall 09 Mar

Michael Buble 01-06 Mar

Aussie Pink Floyd 11 Mar

Miranda Hart 28 Mar

X Factor Live 10-11 Mar

X Factor Live 10-11 Mar

Miranda Hart 12-13 Mar, 11-12 Apr

Gary Barlow 29 Mar

The Wanted 14 Mar

Aussie Pink Floyd 07 Mar

X Factor Live 21-22 Mar

Katy Perry 07 May

Russell Howard 20 Mar

Jack Whitehall 08 Mar

Drake 24-26 Mar

Miley Cyrus 19 May

4 Tops/Temptations 21 Mar

Drake 11-12 Mar

The Wanted 27 Mar

WWE Live 21 May

Drake 22 Mar

Miranda Hart 14-15 Mar

Eason Chan 28 Mar

McBusted 31 May, 01 Jun

Rebecca Ferguson 23 Mar

Fall Out Boy 17 Mar

Tinie Tempah 30 Mar

Cliff Richard 05 Jun

Miranda Hart 24-25 Mar

The Wanted 18 Mar

Justin Timberlake 01-02 Apr, 10 Jun

Little Mix 09 Jun

Tinie Tempah 07 Apr

Backstreet Boys 05 Apr

Backstreet Boys 04 Apr

Dolly Parton 10 Jun

Globetrotters 08 Apr

Justin Timberlake 07-08 Apr

Gary Barlow 05-06 Apr

Robbie Williams 13 Jun

Gary Barlow 11, 15 Apr

Elbow 09 Apr

Miley Cyrus 06 May

Ed Sheeran 08-09 Oct

Elbow 12 Apr

Johnny Mathis 12 Apr

Nine Inch Nails 23 May


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YOU What is your business background? Retail and Corporate Banking What was your very first job? Saturday job at a dry cleaners, which was a great place to learn about customer service. f you hadn’t chosen your current career, is there another career path you would have liked persue? Residential property. Who is your business role model? Richard Branson. What is the best business lesson you’ve ever learned?

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Cars

What is your favourite film? ‘Senna’. What is your favourite album? Anything by Adele. What is the most memorable event you have recently attended? 2012 Olympics with my family. Name 3 things you would like to do before you die? Tour America, take a parachute jump, run my own business. What is the best piece of personal advice you could offer?

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Lifestyle

QA

If you believe in something, go for it and don’t ever give up.

Attention to detail is vital. What is the best business advice you could offer to anyone? Have a robust business plan.

CURRENT What is your view on the banking sector in 2014. We have seen new names in the

most of the people I have come into contact with are passionate about customer service and want to be able to help their customers achieve their financial goals.

market place and will see some brands from the past as competition is

R 65 R

encouraged by governments. This, in my opinion, is great for the consumer. Lloyds Bank announced its vision of

being

the

“Best

Bank

for

Customers” in 2009 and our core values of Putting the Customer at the Heart of Everything that we do, Keeping it Simple and Succeeding Together are paramount in achieving

DIGITAL AGE Do you own an iPad? Yes.

our goal. Most banks are focusing on similar themes. Technology will play an increasing part

in

bank

offerings

as

the

convenience attracts more and more What are your favourite gadgets? iPad/Kindle

users. Increased investment in fraud prevention is a natural by-product.

Which websites do you visit most? BBC, Rightmove, eBay, Amazon

Despite its ups and downs, I am very proud to work in banking. The reality is that most of the people I

Do you shop online and if so what for? Yes. Antiques, Consumables and items that can’t be sourced locally.

have come into contact with over my 32 year career are passionate about

Where in the world would you most like to visit and why? Australia, for its wide open spaces,

TITLE AND COMPANY Senior Manager, Lloyds Bank Premier Banking

customer service and want to be able to help their customers achieve their

PERSONAL

NAME Jonathan Bugbird

financial goals.

HOW OFTEN DO YOU TRAVEL TO THE ISLE OF MAN? I am based in Jersey but I travel to the Island at least once a month

scenery and way of life. What is your favourite TV series? Hawaii Five-O

WHAT IS YOUR FAVOURITE PLACE WHEN VISITING THE ISLE OF MAN? Castletown ISLE OF MAN

ISSUE 140

PORTFOLIO


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Lifestyle

Life during wartime New exhibition commemorates 100th anniversary of WW1

O

R 66 R

On Saturday 8 February 2014,

signed by around 2,000 Manx people

from local people to our appeals for

Manx

Heritage

calling for the removal of the Lieutenant

information, photographs and artefacts

opens its new exhibition, ‘This

Governor, Lord Raglan, because of his

has been tremendous, and it is fair to say

Terrible Ordeal’, at the Manx Museum in

refusal to help those in financial

that we simply could not have staged

Douglas. The exhibition marks the 100th

difficulties due to the war.

this exhibition without that support”.

National

anniversary of the outbreak of the First

The curator of the exhibition,

The exhibition runs for the whole of

World War in 1914, and looks at the

Matthew Richardson, commented: “The

2014 and is supported by a range of

varied experience of people on the Isle

opening of ‘This Terrible Ordeal’ marks

public lectures, workshops and other

of Man during the conflict.

the culmination of nearly two years of

events throughout the year. Associated

The accounts of soldiers on the

research and planning. Throughout this

events include:

battlefields in this first industrialised war

work, our objective has been to allow

A public lecture by Gary Sheffield on

form a significant part of the exhibition,

the Manx people who lived through

Military Strategy in the First World War.

but the First World War was a total

these momentous years to speak for

Gary Sheffield is a major figure in British

conflict in which the fighting spread to

themselves, through their letters, diaries

military history and one of the foremost

the seas and oceans of the world, as well

and memories.

historians of the First World War. He

“We have worked hard to try to

presents his research into British

Large sections of the

ensure that every section of society is

leadership and command in the conflict.

exhibition are devoted to maritime and

represented here, and so we present the

The lecture takes place on Friday 28

civilian experiences, as well as the

experiences of men, women and even

March 2014 at 7.30pm at the Manx

impact of the internment of enemy

children packing parcels for soldiers. As

Museum. Tickets cost £10.

aliens upon Manx life.

well as those engaged in fighting, or

Matthew Richardson, Manx National

As far as possible, the participants in

working in munitions factories, we

Heritage Curator for Social History will

this terrible conflict describe their

acknowledge that there was opposition

host a practical research workshop on

experiences and their reactions to it in

to the war at the time, and we present

tracing your WW1 ancestors on Tuesday

their own words. The exhibition also

the

13 May, 11am – 12 noon at iMuseum.

features a number of unique and

conscientious

important objects, many of which have

imprisoned for refusing to enlist”.

as affecting the lives of those on the home front.

never been on public display before.

ISLE OF MAN

PORTFOLIO

ISSUE 140

story

of

one

of

objectors

the who

Manx was

Tickets £6. One of Britain’s foremost naval

The exhibition has drawn together

historians, Professor Eric Grove, will

Perhaps the most poignant of these

material not just from the collections of

explore the role of the Isle of Man Steam

is the original wooden cross which

Manx National Heritage but also

Packet vessel Ben My Chree as a

marked the grave of a Manx soldier on

material loaned by many private

seaplane carrier during the First World

the Ypres battlefield in 1917. Another

individuals, both on and off the Island,

War. The lecture takes place at the

intensely personal item is the lock of his

and

Manx Museum on Friday 16 May,

daughter’s hair carried in the wallet of

institutions.

from

other

museums

and

7.30pm. Tickets £10.

All tickets available from the Manx

another Manx soldier in the battles of

Tony Pass, Chairman of the Manx

the Western Front. On show is a

Museum and National Trust said: “Manx

Museum shop and

reconstructed section of an original

National

www.manxnationalheritage.im.

Knockaloe hut which housed internees

grateful to the many lenders who have

The exhibition is open Monday to

from 1915 to 1918, and the petition

supported this exhibition. The response

Saturday, 10am to 5pm. Admission free.

Heritage

is

enormously


IOM Portfolio Issue 140  

Isle of Man International Business magazine

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