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CONTENTS

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THE ISLE OF MAN’S LEADING BUSINESS MAGAZINE ISSUE 276 | AUGUST 2025

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Isle of Man Portfolio magazine is published monthly and is delivered to private and public sector finance-related business in the Isle of Man by the Isle of Man Post Office. 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.

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Boal & Co’s Isle of Man Pensions Governance Conference 2025 announced

The fourth annual Isle of Man Pensions Governance Conference has been announced.

Organised by leading pension and retirement benefits solutions provider, Boal & Co, the Isle of Man Pensions Governance Conference 2025, will take place on Friday 7 November at the Comis Hotel.

The full day event will be sponsored, for the first time, by Department for Enterprise agency, Finance Isle of Man. The sponsorship supports Finance Isle of Man’s purpose to promote and develop the Isle of Man’s financial and professional services industry.

The Isle of Man's only dedicated pensions conference, the educational and informative event is specifically created for anyone involved with the governance and/or oversight of Isle of Man company pension schemes or group personal pensions. It typically attracts a KAREN KELLY cross section of pension trustees, HR professionals, company directors and third-party advisers including IFAs, lawyers and accountants.

The interactive and educational agenda is set to feature a mix of presentations, expert panels and breakout sessions delivered by leaders in the field of pensions from the Isle of Man and further afield, including representatives from Boal & Co, CMS, the Isle of Man Financial Services Authority, Hymans Robertson, Keystone Law, Mercer and more.

Topics will range from regulatory obligations, legal and tax considerations to administrative duties, technical, actuarial and investment matters.

Moore Stephens secures ISO 27001 accreditation Moore Dixon has announced that the firm has been awarded ISO 27001 accreditation, the globally recognised benchmark for Information Security Management Systems (ISMS).

Clive Dixon, a Partner in Moore Dixon, said, “Achieving ISO 27001 accreditation reflects the strength of our internal systems and the seriousness with which we approach information security. In an environment where data protection and regulatory compliance are paramount, this accreditation provides our clients with assurance that their information is managed to the highest international standards.”

“We extend our thanks to all team members whose expertise, dedication and hard work were instrumental in this success”, he added.

ISO 27001 is the internationally recognised standard for ISMS. It provides a robust framework for identifying, assessing and mitigating information security risks, ensuring that client data, internal systems and confidential information are protected at every level.

Achieving ISO 27001 accreditation is a rigorous process concluding in an independent audit of systems, processes and controls. The award recognises the firm’s long-standing commitment to managing sensitive information with the highest levels of security and integrity, and reinforces Moore Dixon’s continuing focus on professionalism, quality and client care.

Simon Pickering, Head of Insurance and Pensions, Finance Isle of Man, commented: “I am thrilled to announce Finance Isle of Man’s involvement with this year’s Pension Governance Conference. The event is always enjoyable and hugely informative. It’s a pertinent fit for SIMON PICKERING Finance Isle of Man, given its focus on supporting and developing the MannVend recently won financial sector on the Island. The conference is a two awards at the 2025 valuable learning opportunity for professional pension Vendies hosted at the trustees as well as any Isle of man employers offering Connaught Rooms in their employees access to a pension scheme.”

London.

Karen Kelly, Group Director, Boal & Co, commented: The Vendies is an “The conference continues to fill a gap in education for annual event which the governance and oversight of Isle of Man employer celebrates excellence in facilitated pension schemes. It has grown in popularity the Vending Industry year on year, with consistently positive feedback from with over 700 people in delegates. attendance.

“From HR professionals facilitating the provision of Tracey Leahy, group personal pensions, to professional trustees, the Managing Director of conference offers a professional development platform MannVend, accepted the for anyone with involvement in Isle of Man pensions. awards for Best Family “We are delighted to welcome Finance Isle of Man business in the Vending as sponsor and envisage the agency’s involvement will Industry and Runner up support us to promote the conference to an even wider for Best Overall TRACEY LEAHY audience this year.”

Operator.

Several excellent speakers have already been lined Tracey said “It was a proud moment to be recognised up for the event, with more to be confirmed. The full by industry experts and peers and is testimony to the hard conference agenda will be released on Boal & Co’s work and dedication of the whole team at MannVend.” website (www.boalco.com) in the coming weeks.

MannVend wins big at The Vendies

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Simcocks ranked high by Chambers & Partners

PHIL GAMES

Simcocks Advocate has announced that it has once again received exceptional rankings from Chambers & Partners in its 2025 High Net Worth guide, which awarded the firm a Band 1 ranking, with two of the Private Client team receiving Recommended Lawyer status.

Simcocks has been ranked in the highest category under Offshore Trusts with a special mention to advocates Phil Games and Kevin O’Loughlin.

Law firms and individual lawyers are ranked in bands from 1-6, with Band 1 being the best. The qualities on which rankings are assessed include technical legal ability, professional conduct, client service, commercial astuteness, diligence, commitment, and other qualities most valued by the client.

Simcocks has a dedicated Trusts team for both non-contentious and contentious matters, acting for both corporates and private clients. The team work on the creation, administration and restructuring of trusts and foundations, advising a mixture of corporate trustees, high net worth families and individuals.

They also liaise with the firm’s litigation department on contentious matters relating to trusts.

CEO Phil Games, who is head of the Private Client team at Simcocks, received a Band 1 ranking, and is well respected for his private client practice.

Kevin O’Loughlin has consistently topped the rankings over the years, with feedback highlighting his expertise and meticulous eye of detail.

Phil Games commented on the rankings: “We’re proud to have attained Band 1 status again this year.

Independent directories such as Chambers & Partners are so useful for clients to see what areas each law firm and lawyer excels in, and we are grateful to be ranked so highly once again. It's testament to our team's expertise and customer focus.

First direct flight from Island to Ibiza takes off

The 26th July marked another exciting milestone for travel from the Isle of Man, with the start of new direct flights to Ibiza, the iconic Mediterranean holiday hotspot. From 26th July until 13th September, travellers can enjoy a weekly nonstop links between Ronaldsway Airport and Ibiza Airport, making another sun-soaked holiday destination both easier and quicker to reach.

Ibiza will be the fifth destination that FlyDirect have added to their programme from the Isle of Man since launching with direct flights to Majorca in 2022. Ibiza has long been celebrated for its incredible diversity, from legendary nightlife to spectacular scenery, familyfriendly resorts and serene yoga retreats.

Commenting on the inaugural flight, Robert Mackenzie, C. I. Travel Group’s Managing Director (and regular visitor to Ibiza) said “We’re delighted to bring the beautiful island of Ibiza that bit closer to the Isle of Man with this new direct route. Whether clients are

looking for a fun family holiday, a relaxed romantic break or a week enjoying the nightlife with friends, Ibiza is a destination that offers the best of all worlds”.

Interim Director at Isle of Man Airport, Geoff Pugh, said “We’re thrilled to welcome the launch of 2025 direct flights to Ibiza. This route enhances our seasonal offering to a hugely popular destination, and we’re proud to support services with Flydirect that make travel more accessible and convenient from the Isle of Man.” The flights will be operated by BA Cityflyer, with a flight time of just under 3 hours. While the route has already proved popular there is still availability for flight only or package holidays in August and September. Fares start from £399 return and include 20kg of checked luggage as well as 10kg of hand luggage. Child discounts are available on all flights.

Bookings can be made through www.flydirect.co.uk or over the phone.

Dunlop, Todd, Harrison return for Classic TT Michael Dunlop MBE, Dean Harrison, Davey Todd, John McGuinness MBE, Ian Hutchinson and Conor Cummins are just some of the standout names set to return to the Mountain Course next month for the highly-anticipated return of the Classic TT. Back for the first time in six years, the Classic TT gets underway with qualifying on Wednesday 20th August. With four distinct classes on offer to contest Formula One, Historic Senior, Historic Junior and Lightweight - this year’s event has drawn full grids packed with TT winners, podium finishers, class specialists and rising stars.

The 2025 Classic TT will culminate on Friday 29th August with the Senior Classic TT, a feature race that will see the fastest sixty riders from the Formula One and Lightweight classes go head-to-head.

The Formula One race is set to be one of the event’s showpiece moments, with 33-time TT winner Michael Dunlop MBE lining up against Mike Browne and Rob Hodson, both recent winners on iconic classic superbike machinery, as well as a host of other TT stars.

2019 Classic TT winner David Johnson returns, as do Ian Hutchinson, Craig Neve, Jamie Coward, Dominic Herbertson, Paul Jordan, Nathan Harrison, Brian McCormack, Shaun Anderson, Michael Evans,

Joe Yeardsley and Barry Furber.

International challengers include Amalric Blanc, Julian Trummer, Stefano Bonetti, Maurizio Bottalico and Timothée Monot are also set to line up with Fanfavourite Horst Saiger set to make a welcome return.

Dean Harrison, John McGuinness MBE, and Conor Cummins, meanwhile, will line up in the Historic Senior, on 500cc machines, joined by last year’s Manx Grand Prix winner Shaun Anderson.

Adam McLean is another likely frontrunner, alongside classic specialists Alan Oversby, Will Loder, Hefyn Owen, Andy Hornby and Harley Rushton, who memorably took victory in the corresponding race on his Mountain Course debut last year.

McGuinness, Harrison, Coward and Jordan will also be lining up in the Historic Junior Race.

Sayle is also expected to be a front-runner in the Lightweight Race, which once again brings the sights, sounds and smells of two-stroke racing back to the Mountain Course.

Dunlop, Browne and road racing legend Ian Lougher will also contest the Lightweight Classic TT. Adding to the spectacle, Supersport 400 machines from the 1980s and ’90s will also be in action, with Nathan Harrison being one to watch following his standout performance at TT 2025.

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Junior Tynwald proves ‘very insightful’

Participating in Junior Tynwald proved to be ‘very insightful’ for Camilla Perrie, who represented Arbory, Castletown and Malew. The Castle Rushen High School student was among students from Queen Elizabeth II High School, Ramsey Grammar School and St Ninian’s High School who took the roles of members of the House of Keys and the Legislative Council for the sitting held on July 11.

She continued: “With each supplementary question I gained confidence and got to grips with the ‘theatre’ of the occasion. As a 17-year-old I thought it was great to have the opportunity to have my voice heard and ask the Minister for Education, Sport and Culture questions. I’d done a fair amount of research and I found the whole experience surprisingly - and reassuringly - enjoyable.”

Ramsey Grammar School student Jemima Caine represented Douglas Central.

She said: “The sitting felt ‘real’ and the topics were highly relevant to young people.

I would definitely recommend Junior Tynwald. Anyone considering taking part will probably find they’ll surprise themselves and gain confidence as the sitting progresses. I would advise them to do the research, but enjoy the experience.”

Tenzin Bell, from Ramsey Grammar School, who served as a member of the Legislative Council, had prepared ‘whole paragraphs’ of research and found that as the proceedings unfolded, his confidence grew. “I’m glad I did it. It’s good practice for the future,” he said, adding: “I expected formality…but perhaps not quite as much as there was.”

Jonathan Koroma from Queen Elizabeth II High School represented Middle. He said: “Junior Tynwald was a great new experience for me. I learned a lot and it made me give more thought to the whole political process.”

Geoff Pryce-Jones, also from Queen Elizabeth II High School, represented Middle. His motion: ‘That Junior Tynwald is of the opinion that wind turbines are essential to the future of the Isle of Man’s drive to a greener, pollution-free environment’ prompted Castle Rushen High School student Breesha Jenkins, representing Arbory, Castletown and Malew, to propose an amendment. In doing so she said: “Like many members I care deeply about the environment and I’m not

against renewable energy, but I think it’s dangerous to pretend that there’s only one solution.”

The amendment: ‘That Junior Tynwald is of the opinion that in assessing whether wind turbines may contribute to the future of the Isle of Man’s drive to a greener environment, an independent and thorough assessment of the implications, impact and benefits for the Island’s electricity infrastructure, and the consumer, should be undertaken and published’ was carried, as was the motion as amended.

The motion: ‘That Junior Tynwald is of the opinion that the Isle of Man Government needs to ensure that the education system deals with modern dangers and challenges faced from social media and its influences on younger generations’ moved by Queen Elizabeth II High School student Zara Jones, serving as a member of the Legislative Council, was carried.

The sitting concluded, the President of Tynwald Laurence Skelly MLC, said: “I congratulate everyone who took part on what was a fascinating and interesting sitting, with an impressive variety of relevant and topical issues. I also extend my thanks to the teachers for inspiring their students to take part. Everyone - not just those who asked questions or took part in the debates - contributed by voting and therefore were part of the political process.” He went on to say that the students not only “really put members through their paces” but also that they would now be potential “ambassadors for the oldest continuous parliament in the world.”

Ahead of announcing the winner of the Most Outstanding Participant award Mr Skelly made special mention of Liam Hickey from Castle Rushen High School, Breesha Jenkins from Castle Rushen High School and Jemima Caine from Ramsey Grammar School for their contributions.

The award for Most Outstanding Participant went to Conall Molloy from St Ninian’s High School who said: “It was a great experience. The proceedings were very efficiently run and really authentic, especially the passing of notes. I knew what I wanted to say and had done some research, so it was great to have the opportunity to be heard.”

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Registration opens for the 2025 Isle of Man Government Conference: A key event for businesses

Registration is now open for the fourth annual Government Conference, set to take place on September 23-24, 2025, at the Comis Hotel. This event promises valuable insights and direct engagement with government leaders on key strategic priorities.

Attendees will have the opportunity to interact with the Chief Minister and Ministers along with prominent panellists, addressing vital topics to the business community. Key sessions include: • Economic and Financial Updates: Presentations on economic development, and an update from the Treasury.

• Connectivity and Service Strategic Updates: Presentations and discussions around connectivity both on and off-island, national air and sea connectivity ambitions, and airport service improvements.

• Skills and Education: An update on education in the Island and panel discussion on skills and the Island’s workforce.

• Healthcare: Presentations and panel discussions focused on delivering a healthcare service for the Island.

• Public Service Efficiencies: Updates on the efficiencies programme and the ambition to save £50m in five years and deliver simpler, faster and more cost-effective services that work better for everyone in the Isle of Man. The Conference will feature a range of presentations and panel Q&A sessions, including topics on island security, biosphere, migration and housing.

Alfred Cannan MHK, Chief Minister commented: “Our commitment to community engagement has played a key role in this administration, providing the opportunity for myself and Ministers to engage on key topics and issues facing both residents and businesses. The ‘Listening to You’ events offered the chance for members of the public to engage directly through one-to-one conversations while the Conference ensures Government can present on strategic updates which impact the business community.

“This year’s Conference, the fourth and final of this administration, will cover a range of topics including public service efficiencies, government finances and the economy, education update, healthcare delivery and connectivity to name a few.

Attendees will have the opportunity to hear from and engage in meaningful conversations with Ministers, guest speakers on our strategic priorities and I encourage all those in the business community and the general public to register for the event.”

Terrorist Financing National Risk Assessment published The Isle of Man Government has today published its first standalone Terrorist Financing (TF) National Risk Assessment (NRA), which is a significant step in strengthening the Island’s defences against terrorist financing and reinforces its commitment to international standards.

The TF NRA builds upon the findings of the 2015 and 2020 Money Laundering and Terrorist Financing NRAs and provides a focused analysis of the TF risks relevant to the Isle of Man as an international financial centre (IFC). It is a key component of the Island’s broader strategy to meet the Financial Action Task Force (FATF) recommendations on anti-money laundering, countering the financing of terrorism, and countering the financing of proliferation (AML/CFT/CPF) The assessment, which began in April 2024, involved contributions from 48 local experts, industry representatives, and international partners including the UK Home Office and the World Bank.

It concludes that the Isle of Man faces a medium-low overall risk of being used as a conduit for terrorist financing, with the highest risk identified in the area of transit TF — the potential for funds to pass through the Island’s financial system en route to other jurisdictions. Whilst it is notable that the overall rating remains the same as the last TF NRA, conducted in 2020, this report provides further assurance of that rating by the use of more detailed data, information and analysis.

The FATF is an inter-governmental body that sets standards and promotes effective measures for combating money laundering, terrorist financing and other related threats to the international financial system.

The FATF-style regional body for the Isle of Man is MONEYVAL, the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, based in Strasbourg, France.

The Isle of Man's efforts in combatting financial crime will be subject to an evaluation by MONEYVAL in October next year.

The Island's main priority is to prevent, detect and disrupt criminal activity on an international scale. If the island cannot demonstrate that it meets the standards expected, the jurisdiction could referred to the ‘grey-listing’ process. This outcome would have a significant negative impact on the economy and damage our international reputation and the ability to do business.

Jane Poole-Wilson MHK, Minister for Justice and Home Affairs, commented: “This assessment is a vital tool in our ongoing efforts to protect the Isle of Man’s financial system and uphold our international obligations. It reflects the depth of collaboration across government, regulators, and industry, and highlights both our strengths and the areas where we must continue to build capacity and awareness. We are committed to ensuring that the Island remains a secure and responsible jurisdiction.”

The publication of the TF NRA will be supported by outreach to industry to help stakeholders understand and apply the key findings. A separate NRA focused on NonProfit Organisations (NPOs) TF is also in development and will be presented for approval in due course.

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Isle of Man and EDM Council join forces to build data economy The Isle of Man is taking a bold step onto the global stage with a unique approach to trusted data use and innovation, through a new partnership between Digital Isle of Man and international experts, EDM Council.

The EDM Council is a global non-profit association for data management, representing more than 350 organisations across six continents. Its best-practice frameworks and standards are trusted by leading financial, commercial and public sector bodies worldwide.

Through this partnership, the Isle of Man gains access to international expertise, networks and tools that support its ambition to lead in trusted data use.

This will place the Isle of Man at the forefront of a global need - treating data as a valuable, governed asset that can be shared securely and used to drive value for data-rich organisations.

The initiative is a key growth area of the Isle of Man’s digital economy and supports long-term aims in the Isle of Man’s Economic Strategy to build a more resilient, digitally enabled and globally respected economy.

Lyle Wraxall, Chief Executive of Digital Isle of Man, said: “This partnership puts the Isle of Man ahead of the curve. We’re not just keeping up with change – we’re setting the direction. By creating a trusted way for organisations to govern and use data, we’re opening up new opportunities for investment, innovation and skilled jobs, all while building a digital economy the Island can be proud of.

“This isn’t just about managing data better, it’s about putting the Isle of Man on the map as the home of a new kind of data economy," added Wraxall. "It’s about releasing value from data in a transparent, fair and responsible way and leading from the front.”

John Bottega, President of EDM Council, said: “Managing data as an asset and defining its financial value are key to driving better business outcomes in our data-driven world. EDM Council’s collaboration with the Isle of Man will help pioneer a trusted, transparent data economy. This partnership sets a new precedent in how data can be responsibly governed and commercially leveraged.”

The DAF is a new type of legal structure under Manx law, designed to build trust, securely share and drive financial value from data. This is only achievable by creating a licensed data asset foundation on the Isle of Man. It provides a clear set of rules and roles, ensuring data is used responsibly, compliantly and for the purposes agreed by its contributors, whilst allowing data to be monetised.

As the initiative enters its next phase, Digital Isle of Man will finalise the legal framework ahead of progressing to the Island’s parliament, then begin onboarding pilot foundations and collaborating with key sectors including finance, tech and public services. The Department for Enterprise Executive Agency will be working with local industry to finalise the legal framework, build practical tools and deliver the infrastructure needed to bring Data Asset Foundations to life.

This presents a major opportunity for on-Island firms, particularly in legal, fiduciary, tech and compliance, to help shape and lead a world-first model from the ground up.

Government publishes 2024-25 Summary Management Accounts The Central Government Summary Management Accounts covering the full financial year for 2024-25 have been published.

Treasury have been making quarterly updates available, which have covered the periods up to June, September and December 2024, highlighting the condition of Government finances and the wider Island economy in real time to give the public more information.

The unaudited end of year accounts show that all Departments came in on budget, apart from the Department of Health and Social Care, which required a £15.3m supplementary vote which was approved at the July 2025 sitting of Tynwald. This overspend is related to the cost of the mandate to Manx Care and covers additional expenditure on services arising during the year above the operational budget allocation.

Economic growth was as forecast with an increase in Government income. Income Tax brought in £21.3m more than had been expected at the start of the year due to factors such as higher interest rates benefiting savers and the real growth in earnings.

With the successful finalisation of the FERSA calculations announced in March, there is now more

certainty regarding income for the next five years and an accounting provision of £51.5m was able to be released back to reserves Treasury Minister Dr Alex Allinson MHK said: “The publication of the full-year Summary Management Accounts is designed to provide transparency around how the Isle of Man Government has performed against the budget over the previous financial year.

“It is positive that Income Tax receipts are higher than expected and we continue to monitor this area to understand whether the increase will be restricted to this year or will be repeated in the future.”

He added: “These accounts demonstrate that while considerable challenges remain around funding the cost of healthcare - a position that’s not unique to the Isle of Man - Government has achieved a stronger level of control over our expenditure, and I’m pleased to report that greater monitoring and collaboration across the organisation has succeeded in ensuring all other departments are operating within their budgets.”

The Central Government Summary Management Accounts, including both the full financial year and quarterly updates, are available to view and download at gov.im

Jim Woodall joins Finance Isle of Man board Finance Isle of Man has announced the appointment of Jim Woodall to its Board.

Jim brings over three decades of banking experience, having started his career with Midland Bank (now HSBC) in 1987 and relocating to the Isle of Man in 2004. He has held a number of senior executive roles with HSBC, including Deputy Director responsible for corporate clients and Country Head of Risk for the Isle of Man, Channel Islands, and the UK Non-Ringfenced Bank.

In 2020, Jim joined the board of Cayman National Bank (Isle of Man) Limited and was appointed Managing Director in 2025. A member of the London Institute of Banking & Finance, the Institute of Directors, and current Deputy President of the Isle of Man Bankers Association, Jim brings significant industry insight and leadership to the Board as Finance Isle of Man continues to champion the Island’s financial services sector.

JIM WOODHALL

Sustainable Finance & ESG Adviser appointed The Isle of Man Financial Services Authority has welcomed Adam Creamore to the team, bringing new momentum to the Island’s sustainable finance agenda.

Adam joined the Authority in April and is leading the coordination and delivery of Pillar 1 of the Isle of Man’s Sustainable Finance Roadmap - a key component in the Island’s strategy to build a credible and robust sustainable finance ecosystem.

With over eight years of experience working with both local and international businesses, Adam brings a deep understanding of the financial services landscape.

His recent work as an ESG consultant, advising both businesses and governments, has further sharpened his insight into global trends and best practices in

sustainability. This experience is already proving valuable in ensuring the Isle of Man adopts approaches that are both proportionate and effective, while remaining aligned with international developments.

Reflecting on his new role, Adam said: “This is an exciting role for me, working with a great team in the Authority and with Finance Isle of Man to help the Island to achieve our goals for sustainable finance and the future for the sector.”

Adam’s appointment supports the Island’s wider ambition to position itself as a forward-looking, responsible finance centre, and his leadership on Pillar 1 will help ensure the necessary regulatory foundations are in place to underpin long-term, sustainable growth.

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14 Athol Street, Douglas, Isle of Man, IM1 1JA | 01624 666888 | enquiries@lmspartners.co.im LMS Partners Limited is licensed by the Isle of Man Financial Services Authority and registered with the Isle of Man Financal Services Authority as an insurance intermediary in respect of General Business

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Cabinet Office department plan prioritises digital investment to improve services and save costs The Cabinet Office Department Plan for 2025-26 focuses on accelerating digitisation to improve public services for Island residents and businesses, and to reduce costs.

The department is leading the cross-government Efficiencies and Change Programme and, through the Government Transformation Service, will increase the use of new technologies and AI tools.

A priority is the digitisation of 25 public services to support service improvements and greater productivity and efficiency across government. The Cabinet Office will also improve its own productivity, in particular by supporting adoption of Microsoft Co-Pilot.

Cabinet Office department priorities to September 2026 include:

• Concluding the Area Plan for the North and West • The Isle of Man Strategic Plan as a framework for development and other land use across the Island • Continued support to deliver affordable homes through the Housing and Communities Board • Implementing the Human Tissue and Organ Donation Act 2021 • Delivering a Child First Policy • Continued improvement in the Office of Human Resources Minister for the Cabinet Office, David Ashford MHK, said: “The Cabinet Office Department Plan for the next 18 months focuses on clear priorities and target improvements and, because Cabinet Office sits at the heart of government, we will continue to provide

policies and services that make a difference to the everyday lives of people across the Island.

“In the last year these have ranged from matters such as migration, housing, and land use planning, and tackling issues that matter to our community as they arise. For example, we delivered changes such as the Vaping Products Act 2024, and urgent legislation that protected vulnerable gas consumers from disconnection in the winter months.”

Delivery of Our Island Plan is also driven by the Cabinet Office, which works to ensure the effective development, coordination and implementation of plan priorities.

The Cabinet Office Department Plan was received

by Tynwald on 15 July.

Guidance on managing financial risks of climate change and nature loss The Isle of Man Financial Services Authority has published guidance to raise awareness within the regulated sector of climate and nature loss risks and provide further clarity around the expectations of the Authority in respect of these risks.

This represents a significant first step in the Authority’s work to support the ambitions highlighted in the Isle of Man Sustainable Finance Roadmap. This initiative aims to facilitate the Isle of Man creating an environment where sustainable finance can thrive, benefitting our community and economy alike.

The Authority’s workstreams are focussed on creating a platform that enables firms to develop products and services, with a view to fostering the growth of sustainable finance as part of a well-regulated international business centre.

This guidance note is applicable to entities regulated under the Financial Services Act 2008, the Insurance Act 2008 and the Collective Investment Scheme Act 2008. It aims to give a high-level understanding of how climate and nature loss risks can create financial and other risks, as well as the expectations that the Authority has of firms that identify a material risk. The document focusses on how these risk management expectations sit within the existing regulatory frameworks, with no new requirements for firms. Another key focus area within the document is that of proportionality and materiality. The majority of the guidance is applicable only for business that have identified a material climate or nature risk as part of their risk assessment processes.

Outreach by Finance Isle of Man has yielded positive feedback around the opportunities set out in the Isle of Man Sustainable Finance Initiative to enable growth for businesses, educate staff, attract talent and businesses to the Island and help the Isle of Man achieve its wider goals for growth and sustainability.

The Authority remains committed to driving forward an important project for our Island’s future.

JOHN QUIRK FREELANCE WRITER & EDITOR Books, magazines, brochures, columns, reports, website copy - whatever your literary needs, I have more than 30 years’ experience working with individuals, businesses and charities.

CALL 07624 464634 johnquirkbooks@gmail.com

DIGITAL ID

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THE ISLE OF MAN’S LEADING BUSINESS MAGAZINE

FEATURES

SQR IS INTERCELTIC STARTUP CHALLENGE 2025 REGIONAL WINNER

SQR, A LEADING INNOVATOR IN TOKENISED DIGITAL IDENTITY VERIFICATION AND KYC SOLUTIONS, HAS WON THE PRESTIGIOUS INTERCELTIC STARTUP CHALLENGE 2025. THIS ACCOLADE CELEBRATES SQR'S INNOVATIVE APPROACH AND ITS SIGNIFICANT CONTRIBUTION TO BUILDING A MORE SECURE, TRUSTED AND INCLUSIVE DIGITAL FUTURE.

‘‘

THE SQR TEAM

The Interceltic Startup Challenge, launched by the Interceltic Business Forum, supports and elevates high-potential startups from across the Celtic nations: Ireland, Scotland, Wales, Cornwall, Brittany, and the Isle of Man. Following weeks of rigorous regional selection and jury deliberation, SQR emerged as one of six companies representing Celtic entrepreneurship.

Rob Mercer, MLC, Political Member for Business Isle of Man, commented: “We are delighted to see SQR selected to represent the Isle of Man at the Interceltic Startup Challenge 2025. We congratulate the team for their pioneering approach to privacy-first identity verification and look forward to seeing their continued progress at this important event in Lorient”. He added, “2025 marks the first year for Business Isle of Man as member of the Interceltic Business Forum, a community that fosters economic cooperation and collaboration among Celtic nations. We are pleased to support initiatives like this that enhance international visibility for the Isle of Man, create opportunities for export growth and business development, and support local businesses in expanding into new markets.”

SQR's tokenised digital identity technology stood out for its ability to enhance security, streamline operations, and build trust in an increasingly digital world. This win underscores the growing importance of secure and efficient digital verification in various sectors, aligning perfectly with recent legislative

developments such as the UK's Data (Use and Access) Act. "We are incredibly honoured and proud to be recognised as a winner of the Interceltic Startup Challenge 2025," said Shelley Langan-Newton, CEO of SQR. "This win is a tremendous validation of our team's dedication and our pioneering work in tokenised digital identity. We are particularly proud to put the Isle of Man on the map as a hub for digital innovation, and look forward to showcasing how SQR is building a more secure, inclusive and efficient future for businesses across borders. We're eager to engage at the Interceltic Business Forum in Lorient and explore new partnerships."

As a winner, SQR will take the stage at the Interceltic Business Forum in Lorient, France, on August 4th, to pitch its tokenised identity and KYC solutions, connect with potential partners, and contribute to the future of cross-border innovation.

SQR is a leading provider of tokenised digital identity verification and AML/KYB solutions, designed to empower businesses with secure, efficient, and compliant customer onboarding and ongoing verification. By putting individuals in control of their digital identity, SQR helps mitigate fraud, streamline operations, and build trust in the digital economy.

Headquartered in the Isle of Man, SQR is committed to driving innovation in RegTech and secure data exchange.

WE ARE PARTICULARLY PROUD TO PUT THE ISLE OF MAN ON THE MAP AS A HUB FOR DIGITAL INNOVATION, AND LOOK FORWARD TO SHOWCASING HOW SQR IS BUILDING A MORE SECURE, INCLUSIVE AND EFFICIENT FUTURE FOR BUSINESSES ACROSS BORDERS

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ADVERTISEMENT FEATURE

WIMBLEDON THEMED SUMMER EVENT A SUCCESS FOR DQ ADVOCATES DQ ADVOCATES SERVED UP A WINNING EVENING AT ITS ANNUAL SUMMER PARTY, HELD THIS JULY AT THE SANTANDER WORK CAFÉ IN DOUGLAS. WELCOMING CLIENTS, COLLEAGUES, AND FRIENDS, GUESTS ENJOYED A VIBRANT WIMBLEDON THEME.

As one of the Isle of Man’s leading law firms, DQ Advocates is known for its dynamic and clientcentred approach. The firm advises a broad range of clients across key areas including corporate and commercial law, dispute resolution, regulatory and compliance, employment, and private client services.

With a reputation for pairing deep technical expertise with practical commercial insight, DQ continues to be a trusted legal partner for both local and international clients.

But it’s not just legal know-how that defines DQ. The firm prides itself on being proactive, progressive and personable, values that came to life at the summer gathering. Designed to foster genuine relationships beyond the boardroom, the event offered guests the chance to connect in a relaxed and welcoming setting.

MARK DOUGHERTY

With Pimm’s flowing, elegant canapés, and the quintessential strawberries and cream on offer, attendees enjoyed live coverage of the iconic tennis tournament while mingling in good company. The Wimbledon theme brought a playful energy to the evening, culminating in a highlight: an entertaining presentation by Managing Director Mark Dougherty, featuring AI-generated images of DQ team members reimagined as tennis champions.

“The summer party is always a great way to bring people together in a more relaxed setting,” said Mark.

“It’s important to take the time to connect outside of our usual working environments, and this was a chance to do just that, with a bit of humour, a few surprises, and a nod to the spirit of Wimbledon.”

THE TEAM GUIDING CLIENTS THROUGH THE NEXT ERA IN OFFSHORE BUSINESS THE ISLAND HAS A NEW COMMERCIAL STRATEGY FIRM OFFERING DYNAMIC, PRAGMATIC, AND SOLUTION ORIENTED GUIDANCE TO BOTH PRIVATE AND COMMERCIAL CLIENTS. ASTON & WILLIAMS PROVIDES EXPERT SUPPORT TO ENHANCE CONTROL, COMPLIANCE, AND INDEPENDENCE TO NEW AND EXISTING CLIENTS ON THE ISLE OF MAN. We are here to provide our expertise in our respective fields to clients who are seeking to establish a physical presence in order to comply with economic substance requirements. Our aim is to enable clients to be better informed about the decisions they make when establishing their business on the Island, including when engaging with licensed CSPs and other service providers to support their business operations. Our assistance and expertise delivers an exceptional standard of guidance to satisfy and support our clients requirements.

We operate with strict confidentiality from an established private family office environment, with our multi-disciplined Board and team of Lead Consultants leveraging their extensive network of companies and professional agents to deliver tailored solutions for complex structures on behalf of our clients With over 500,000 square feet of available office space in the Isle of Man's capital, we're able to guide businesses, and present a prime opportunity to establish independence and self reliance by enhancing economic substance, and ensuring compliance with developing legislation.

INTRODUCING THE BOARD...

Director, Corporate Governance - Regulatory Affairs & Shareholder

TY SMITH, CMGR FCMI Ty is a regulatory expert with deep experience across governance, compliance, and ESG. He has led major initiatives in both public and private sectors, including shaping gambling regulation, advancing sports integrity on international panels, and integrating Esports into regulatory frameworks.

In industry, Ty has held executive roles in online gaming and B2B software, driving licensing, AML, and corporate growth. As a Group Head of ESG, he developed strategies aligned with global standards and led highimpact corporate giving initiatives worldwide.

Managing Director & Shareholder

Client Relations Director & Shareholder

ANDREW CRONIN

MANOLA PANAS

Andrew founded Aston & Williams as the Isle of Man’s first corporate advisory firm that would focus strictly on improving economic substance, whilst maintaining and delivering exceptional quality and solutions to those clients seeking an alternative to how businesses traditionally operate in the Island.

Manola is an accomplished Client Relations Director with executive level experience across business process outsourcing, B2B software technology, and intellectual property sectors.

She brings deep industry expertise in payment card solutions, operational strategy, and financial modelling.

Aston & Williams is at the forefront of doing business in the Isle of Man, and the team is designed to guide you through the Next Era in Offshore Business.

Manola has been instrumental in driving the solutions that clients require to ensure control over their businesses, whilst ensuring adherence and compliance with economic substance.

INTRODUCING THE LEAD CONSULTANCY TEAM...

Lead Consultant - Infrastructure & Operations

Lead Consultant - Banking & Fintech

STEPHEN TRIMBLE

CRAIG DALTON

Stephen is a strategic advisor with a track record of building and scaling businesses across telecoms, digital infrastructure, eGaming, and technology. He has founded, led, and advised global, regulated businesses, with hands on experience delivering ultra high availability platforms across Europe, Asia, and the United States.

Craig is an experienced finance and fintech professional, with a background in banking, investments, payments, treasury & cash management, he’s been involved in launching ventures, shaping products, and setting up the day-to-day operations that help things run smoothly.

His recent work spans corporate innovation, venture development, and early stage growth, alongside helping founders, boards, and investors shape strategy, enter new markets, and navigate complexity.

Known for a pragmatic and commercial approach, he brings deep sector expertise and a strong grasp of both operational detail and big picture thinking.

Craig has been a trusted advisor and partner to a variety of industries, known for his integrity, adaptability, diverse skillset and strategic thinking, he brings a calm, thoughtful approach to decision making. With a hands on approach and a focus on practical solutions, Craig works with founders, teams, and partners to help ideas take shape and grow, with an emphasis on continuous improvement.

Lead Consultant - Artificial Intelligence & Software

IGNATIUS RAUTENBACH Ignatius is a global technology strategist with 15+ years leading AI, blockchain & digital transformation across US, UK, IoM, EU, Africa & Asia. As a Founder, Advisor and Director specialising in cross-border regulatory navigation & rapid execution of complex initiatives.

With a proven track record transforming challenging obstacles into market ready solutions, Ignatius is an expert in multijurisdictional corporate structuring & emerging tech deployment.

STRENGTHENING CLIENT OFFERING WITH A NETWORK OF SECTOR SPECIALISTS Recognising the increasingly complex demands of international business and private clients, Aston & Williams has curated a network of experienced professionals who bring expertise in critical areas such as eGaming, artificial intelligence, banking and fintech, compliance, corporate governance, regulatory affairs, taxation, accountancy, infrastructure operations and intellectual property.

Lead Consultant - Taxation & Finance

RAJ NANDHA, CA, CertEd, FHEA Raj is a qualified Chartered Accountant, an experienced Director, and a highly dedicated professional with expertise in taxation, accounting, regulatory compliance and governance.

Raj has worked within several industries including professional practice, private business and the public sector, bringing a variety of knowledge in the operation of trading and investment organisations.

Raj is also a qualified lecturer providing technical training on relevant subject areas to individuals as part of their continued professional development.

This multi-disciplinary approach ensures that clients benefit not only from strategic insight and guidance, but also from practical, real world knowledge tailored to their sector and objectives.

The firm’s experts work in close collaboration with licensed Corporate Service Providers, legal advisors, and other regulated professionals ensuring full compliance with legislation, while helping clients navigate the nuances of structuring, regulation, and substance requirements in the Isle of Man. By assembling this diverse and expert led team, Aston & Williams reinforces its commitment to delivering pragmatic, solution driven support for clients who value discretion, independence, and informed decision making in a dynamic offshore environment.

INTERESTED IN JOINING ASTON & WILLIAMS? ENQUIRE TODAY If you believe you have the skill set to deliver exceptional service to a diverse, high net-worth client base, then contact: info@aston-williams.com

TM

30 AUGUST, 12NOON - 7PM, PEEL PROMENADE Get ready for a roar-some day out for all the family as T-Fest returns this summer - bigger, better, and back with a new home in Peel!

Whether you're running, walking, waddling or cheering from the sidelines, there’s something for everyone, and all for two amazing local causes: The Children’s Centre | Rebecca House Children’s Hospice You can now register at: www.thechildrenscentre.org.im/shop Choose from: Adult with a brand new T-Rex suit - £40 | Adult with your own T-Rex suit - £20 Child with their own T-Rex suit - Free All profits will go directly to our two chosen charities, and thanks to the Z Zurich Foundation, your entry fee will be matched - doubling your impact.

Last year’s T-Rex Thunder Run raised over £12,000 - let’s go even bigger in 2025!

Get your suit on, get your entry in and get ready to ROAR!

• THE (UNOFFICIAL) WORLD’S BIGGEST T-REX RACE • ISLE OF MAN WHEELIE CHAMPIONSHIP • STALLS, GAMES, FAMILY ENTERTAINMENT • LIVE SET FROM DJ TREX • FOOD VENDORS

LIFE ASSURANCE

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PROVIDENCE LIFE RECEIVES ISLE OF MAN BRANCH LICENSE ALPHA GROWTH PLC HAS ANNOUNCED THAT ONE OF ITS GROUP COMPANIES, PROVIDENCE LIFE ASSURANCE COMPANY (BERMUDA) LIMITED, A LEADING PROVIDER OF BESPOKE LIFE INSURANCE SOLUTIONS FOR UNHW INDIVIDUALS AND FAMILY OFFICES, HAS BEEN GRANTED A BRANCH LICENSE IN THE ISLE OF MAN. THE NEW BRANCH, OPERATING UNDER THE NAME ALPHA PPLI, WILL CATER TO THE SOPHISTICATED WEALTH PLANNING NEEDS OF CLIENTS ACROSS THE UK, EUROPE, MIDDLE EAST AND ASIA.

GOBIND SAHNEY

The Isle of Man Financial Services Authority issued the permit to Providence Life Assurance on May 23, 2025, under section 22 of the Insurance Act 2008, authorising the company to conduct both Class 1 and Class 2 insurance business with immediate effect.

Alpha PPLI builds upon Providence Life Assurance's established expertise in Private Placement Life Insurance ("PPLI") and Private Placement Variable Annuities ("PPVA"), offering tailored solutions designed to address the complex financial and succession planning requirements of UHNW individuals and family offices. The branch aims to provide a full suite of customised insurance structures, supported by a team with decades of collective industry experience and backed by the financial strength of parent company Alpha Growth plc.

Alpha PPLI is lead by its Chief Executive Julian Melling and Business Development Executive Richard Turnbull, both based in the Isle of Man with significant recognized experience in the high net worth life insurance industry.

“Our expansion into the Isle of Man through Alpha PPLI marks a significant milestone in Providence Life Assurance's growth strategy. This new branch enhances our ability to deliver world-class, flexible insurance solutions to discerning clients in key international markets," said Gobind Sahney, Chairman & CEO of Alpha Growth plc and Providence Life Assurance.

"After many years in this industry, I am pleased to lead the strategic expansion of Providence Life

‘‘

JULIAN MELLING

OUR EXPANSION INTO THE ISLE OF MAN THROUGH ALPHA PPLI MARKS A SIGNIFICANT MILESTONE IN PROVIDENCE LIFE ASSURANCE'S GROWTH STRATEGY. THIS NEW BRANCH ENHANCES OUR ABILITY TO DELIVER WORLD-CLASS, FLEXIBLE INSURANCE SOLUTIONS TO DISCERNING CLIENTS IN KEY INTERNATIONAL MARKETS Assurance's international business. This marks a pivotal moment for UHNW life insurance, opening up an exciting future for Providence Life Assurance and the Alpha Growth group of companies, as we enhance our ability to serve the sophisticated needs of UHNW clients and family offices across key international markets." said Julian Melling, Chief Executive of Alpha PPLI.

RICHARD TURNBULL

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INVESTMENT

MANX-BORN GARETH BECOMES CO-OWNER MANAGER OF GIBRALTAR TRUST COMPANY GARETH CROSS BECOMES CO-OWNER MANAGER OF ACQUARIUS TRUST COMPANY LIMITED IN GIBRALTAR AS THE FIRM ANNOUNCES COMPLETION OF MANAGEMENT BUYOUT. THE NEW OWNERSHIP IS POISED TO CONTINUE GROWTH PLANS. THE BUY-OUT MARKS THE SUCCESSFUL EXIT OF FOUNDER NICK CRUZ FROM THE BUSINESS THAT HE CO-FOUNDED IN 1998.

‘‘ ALTHOUGH ACQUARIUS IS PROUDLY GIBRALTARCENTRIC, OCCASIONALLY CLIENTS REQUIRE A SECOND JURISDICTION. BY WORKING WITH TRUSTED FIRMS IN THE ISLE OF MAN, WE CAN RECOMMEND BUSINESS PARTNERS WHOSE VALUES ALIGN WITH OUR OWN

ACQUARIUS OWNER-MANAGERS GARETH CROSS, COO (LEFT) AND OLIVER ANDLAW, CEO

The two executive directors of Gibraltar trust and corporate services provider Acquarius Trust Company Limited (“Acquarius”) have successfully completed a management buy-out from the previous ownership. Chief Executive Officer Oliver Andlaw and Chief Operating Officer Gareth Cross now jointly lead the firm.

The terms of the transaction have not been disclosed. However, as part of the deal, Acquarius’ founder Nick Cruz, has relinquished his shareholding.

He said: “I would like to thank all those who have helped me and the team over the years that has brought Acquarius to this point. I know that the business is in the most capable hands, and I will remain close by to provide any support required.”

Following the buy-out, Acquarius will continue to focus on long-term innovation, deepening relationships with existing clients and their advisers. It will also explore new opportunities in emerging markets as well as considering carefully selected acquisitions, building on the three successful transactions completed in recent years.

There are no planned personnel changes and Paul Miles will continue in his role as Non-Executive Chairman. Oliver Andlaw commented: “For more than a decade, I have been proud to work alongside Nick Cruz as the business has grown. Gareth joined in 2022 following a hugely successful twenty-year banking career. I am excited at the opportunity to grow

Acquarius together as a team.”

Oliver went on to stress that the new ownermanagers are keen to ensure continuity as Acquarius begins the next chapter in its development. He also expressed his appreciation to Acquarius’ clients, some of whom have been in place from the start, for their loyal support. He said, “I want to reassure our clients and dedicated staff that the Board will continue to develop exciting plans that will ensure Acquarius builds on its fine reputation locally for delivering world class financial services while also being a great place to work.”

Gareth relocated to Gibraltar with his family ten years ago and has developed a keen understanding of the local business scene. He maintains close links with counterparts in the Isle of Man and said: “Although Acquarius is proudly Gibraltar-centric, occasionally clients require a second jurisdiction. By working with trusted firms in the Isle of Man, we can recommend business partners whose values align with our own.

Both jurisdictions are well-regulated, highly regarded and aligned in their approach. I look forward to deepening those relationships still further.”

Gareth added, “The Isle of Man remains close to my heart. I still have strong ties to the Island, personally and professionally. It’s a real privilege to represent Manx talent in international business and to promote the shared strengths of Gibraltar and the Isle of Man as trusted jurisdictions.”

Over. Above. Beyond.

It’s where we go for our clients.

Our specialist team is always here to help you enjoy your wealth, in whatever way matters most to you. From retirement planning to investment management, we can support you.

Discover our solutions at canaccordgenuity.com/wealth-management-uk/

Investment involves risk Canaccord Wealth is a trading name of Canaccord Genuity Wealth (International) Limited (CGWIL) and Canaccord Asset Management (International) Ltd (CAMIL), which are subsidiaries of Canaccord Genuity Group Inc.

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SCHOLARSHIPS REACH 25-YEAR LANDMARK AS ISLE OF MAN STUDENTS PREPARE FOR UNITED SPACE SCHOOL THREE SIXTH-FORM STUDENTS ARE ON COUNTDOWN FOR THIS YEAR’S UNITED SPACE SCHOOL IN HOUSTON, TEXAS, FOR WHAT WILL BE THE 25TH ANNIVERSARY OF THE FIRST MANX SCHOLARSHIP BEING AWARDED.

HOUSTON-BOUND: SIXTH-FORM STUDENTS GUY MCGUINNESS, PATRICK WILLIAMS AND HOLLIE PATTERSON-HANNAY

Please visit www.unitedspaceschool.org for more information about the Space School and www.riveradvisers.com/scholarships for details of the company’s scholarships.

Guy McGuinness, Hollie Patterson-Hannay and Patrick Williams won this year’s scholarships awarded by River Advisers, which has been sponsoring sixth-form students from the Isle of Man to attend the Space School since 2000.

The Year 12 students, who all attend Ballakermeen High School, won an essay competition and follow in the footsteps of previous scholars, the first of which was Dr Jennifer Stone, who is now Chief Strategy Officer at River Advisers.

This year’s Space School runs from July 13 to July 28.

It is organised by the Foundation for International Space Education and Guy, Hollie and Patrick will work with peers from around 20 countries worldwide to plan a simulated crewed mission to Mars, supported by NASA astronauts, engineers and scientists.

To help them prepare, the students are completing assignments set by the Space School, which involve solving problems covering all aspects of space flight, including habitat design, sustainability, legal issues, budgeting and orbital mechanics.

Guy, who is studying mathematics, physics and economics at A-level, said: “I’m really looking forward to meeting and working with likeminded students from across the globe. To prepare, I have been researching specific topics which I have found most interesting and want to learn more about. I’m not certain what career I wish to pursue, but I am particularly interested in areas that blend civil engineering principles with planning, land use and the built environment.

“Attending USS will give me a look into which career path I want to take, possibly encouraging me to enter aerospace engineering instead. I’m particularly looking forward to learning more about the application of space law and regulation, along with details into how we will develop infrastructure on Mars and beyond.”

Hollie, who is studying physics, mathematics, and sociology at A-level, added: “I’m excited to meet and work with people from all around the world who share common interests and to work on a project with them.

We have been completing the assignments and carrying out additional research into the various teams that make up the Space School challenge. They recommended documentaries and movies to watch to further expand

our knowledge, which I am making my way through.

“I’m still deciding between two career paths and I think this experience will help. However, if I were to go to university, I want to study aerospace engineering at either Durham, Leicester or Aberystwyth. Space School will provide me with an insight as to what people with these careers do, which may also help with the decision for my future career.”

Patrick is studying maths, chemistry and German at A-level. He said: “While learning from some of the best engineers and former astronauts will be fascinating, something that I’m especially excited about is meeting the other students from the different countries. We have been assigned lots of questions related to different aspects of a mission to Mars, but as well as this, I have been trying to watch lots of different movies about space.

“I’m undecided about what career path I want to follow. Maybe something maths or chemistry-related, like chemical engineering. I’m hoping that Space School will open my eyes to lots of different types of engineering, or perhaps something completely different which I’ve not considered yet. I think Space School will encourage me to go into some more space industry specific fields, such as aeronautical engineering, and motivate me to work hard to achieve this.”

The scholarships are awarded by River Advisers in cooperation with the Department of Education, Sport and Culture (DESC).

River Advisers CEO Alexis Martin said: “We are proud to have reached the landmark of a quarter of a century of sending Isle of Man students to Space School.

We couldn’t have achieved this without the hard work of so many people, and the cooperation of the DESC, the Island’s secondary schools, King William’s College and, of course, the more than 50 students who have represented the Island at Space School since 2000.”

Dr Stone said: “Once again, the entries we received for the competition were superb. Each year the Year 12 students give us an incredibly difficult decision, having to choose between so many well-researched, insightful and thought-provoking ideas. We are sure Guy, Hollie and Patrick will have a fantastic time in Houston and return with memories that will last a lifetime.”

Daphne Caine MHK, Minister for Education, Sport and Culture, commented: “It was a tremendous achievement in the first place to establish these scholarships during the early years of the business, but to still be so dedicated to providing Isle of Man students with such a superb opportunity is a testament to everyone involved at River Advisers over the last 25 years. We can’t wait to meet Guy, Hollie and Patrick on their return and hear all about their adventures.”

MANAGEMENT

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THE ISLE OF MAN’S LEADING BUSINESS MAGAZINE HSBC’s ‘Sustaina bility Tracker’ to support island business es

Island welcome s senior financial leaders in SCFMP program me

Commitm ents set out governm ent efficienc on y, tax and transpor t

SMEs facing more financial challeng es due to software rising costs

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Fynodere e Distillery ready to deliver to European doorstep s

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SPECIAL FEATURE Island’s private sector responds to UK Budget

Marketin g: The Power of ‘Why’ in branding

New legislatio n to reflect changes in global tax standard s

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Q&A: Nick Quayle, Lead Partner, KPMG in the Crown Depende ncies

Compare d: the cost of living in IOM, Jersey, Guernse y and Gibraltar

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Optimist ic economi c growth forecast for the Isle of Man

Exclusiv e event shines light on the Island’s regulato ry sector

Top CEOs navigate global turbulen ce by betting big on AI and talent

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Optimist ic economi c growth forecast for the Isle of Man

Exclusiv e event shines light on the Island’s regulato ry sector

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Sure Business Suite: transfor ming your IT support and security

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The future of Payroll: What’s changing and why It matters

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How Enhance d Due Diligenc e is helping to tackle new threats

Noventr e is new name for Elite Group IT and Wi-Man x

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Next step impleme nting OECD’s Pillar Two global tax framewo rk

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THE RL360 SUPERSTOCK TT RACE

LOCAL EXPERT GLOBAL CONFID ISE, ENCE Inside MFX Client-First Appr ’s oach

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Moody’s rating shows economic diversific ation as key strength

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Global study reveals tension between AI benefits and risks

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Isle of Man Pensions Governance Conference announc ed

Terrorist Financin g National Risk Assessment publishe

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Isle of Man and EDM Council join forces to build data econom y

MARKTI NG: Why your brand doesn't belong to you

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Visit of the South African High Commiss ioner to Island

EST. 1995

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Multi Cloud vs Hybrid Cloud: What’s the Differen ce?

EST. 1995

BUSINES

What could Trump’s US mean for UK business es?

EST. 1995

THE ISLE OF MAN’ S LEADIN G

EST. 1995

MAN

New era of cooperat ion between Isle of Man and Liverpoo l

Boal & Co acquires business from IOMA Horizons

EST. 1995

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The Level Up Club: A new approach to networki ng

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lmspartners.co. im SPECIAL FEATURE : Isle of Man Budget Respons e

Top CEOs navigate global turbulen ce by betting big on AI and talent

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The Isle of Man’ s employee bene fit & business prote ction specialists

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New company offers investme nt opportun ities in the world of fine wines

EST. 1995

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ISSUE 265 | JULY

Moody’s rating hails ‘robust’ economi c growth and ‘stable outlook’

EST. 1995

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iPlan Retireme nt Solutions acquires Equilibriu m Pensions

EST. 1995

THE ISLE OF MAN’ S LEADIN G

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People You Kno w.

A Future You Can Trust.

TUESDAY 04 JUNE RL360 – DELIVE RING EXCEPT IONAL FINANC SOLUTIONS TO IAL CUSTOMERS AROUND THE WORLD.

SIMPLY EMAIL ‘PORTFOLIO’ TO portfolio@manx.net TO RECEIVE YOUR FREE LINK TO EACH MONTHLY EDITION. Isle of Man Portfolio magazine has been established 28 years and features wide ranging editorial content from private sector financial companies and the Isle of Man Government.

Featuring articles from leading figures in the Isle of Man finance industry on subjects such as AI, investment, taxation, training, compliance, tech innovation, colleague wellbeing and so much more.

There is a News section, Appointments section and a Business Directory listing every accountant, banks advocate, licence holder and insurance management company.

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‘‘ WITH A DRAMATIC PAUSE I’D SAY "THAT’S THE BOSS. RIGHT THERE. THE BRAND. NOT YOU. NOT ME. NOT THE OWNER OF THE COMPANY. WE ALL WORK FOR THAT.

MARKETING

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WHY YOUR BRAND DOESN'T BELONG TO YOU YOU MIGHT THINK YOUR BRAND BELONGS TO YOUR BUSINESS – ASHGROVE MARKETING’S TERRY VAN RHYN HAS SOME NEWS FOR YOU . . .

‘‘ TERRY VAN RHYN MANAGING DIRECTOR AND FOUNDER, ASHGROVE MARKETING

There’s a ritual I started back in the 1980s that still shapes the way I think about brand strategy today.

At the time, I was a partner at Smith, Knox & van Rhyn, a fullservice advertising agency based in Cape Town. We were a classic, above-the-line agency, working with some of the most iconic liquor brands in the world: Moët & Chandon, Hennessy, Baileys Irish Cream, Cinzano, to name just a few.

My role didn’t end at boardroom briefings and creative reviews. I spent countless hours out in the trade, walking the aisles with regional sales managers, standing behind bars with staff, talking to customers in bottle stores, and seeing first-hand how consumers chose, interacted with, and consumed these brands.

It was invaluable. And it taught me a truth that many marketers - even today - still forget: the brand doesn’t belong to the marketing director. It doesn’t belong to the sales team. It certainly doesn’t belong to the ad agency. It belongs to the consumer. Always.

To drive this point home, I’d stage a bit of theatre whenever our clients had a new brand manager join.

We’d sit down in the boardroom and I’d place a bottle of their brand right in the middle of the table. With a dramatic pause I’d say "That’s the boss. Right there. The brand. Not you. Not me. Not the owner of the company.

We all work for that. And more importantly, we work for the person (consumer) on the other side of the counter deciding whether to choose it… or not.”

This bit of theatre also helped to make the point that we are all on the same side of the table – there to support the brand and make it successful. This helped to avoid a “client vs agency” situation and show both our goals were in alignment.

That bottle became a symbol. A constant reminder that no matter how many strategy documents we wrote or creative campaigns we launched, the real power always sat with the consumer.

Decades later, working with clients across multiple industries, the principle remains the same.

Whether it’s a bottle of vodka in a London cocktail bar, a new craft beer launch, a new fintech app, or a fast-moving consumer product, the brand still sits in the middle of the table. We are simply the guardians of it.

That means we have a responsibility to: • Listen to the audience (not just boardroom opinions) • Ground every campaign in business reality (not wishful thinking) • Push back on clients when necessary (because challenging thinking is part of the job) • Craft creative communications that connect, resonate, and move people to act (not just win design awards) Brand strategy without audience insight is just expensive guesswork. Over the years I’ve seen campaigns that looked stunning but achieved nothing.

Why? Because they were built on internal assumptions and vanity metrics, rather than on actual audience insight or commercial objectives.

That’s why an agency should not start sketching creative concepts until we understand your business plan, your sales strategy, business development objectives and, most importantly, what your audience cares about and how they buy. Without that foundation, your marketing is just noise.

So, here’s my challenge to every business leader reading this: next time you sit down with your team to discuss your brand, put something tangible - a bottle, a box, a mock-up of your app - in the middle of the table.

Look at it and ask yourselves three things: 1. “What does the customer want from this?”

2. “Why should they choose us?”

3. “What’s stopping them from buying?”

Because until you answer those questions, no marketing agency - no matter how creative - can deliver the results you’re hoping for.

OVER THE YEARS I’VE SEEN CAMPAIGNS THAT LOOKED STUNNING BUT ACHIEVED NOTHING. WHY? BECAUSE THEY WERE BUILT ON INTERNAL ASSUMPTIONS AND VANITY METRICS, RATHER THAN ON ACTUAL AUDIENCE INSIGHT

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BUSINESS DIRECTORY

PORTFOLIO

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THE ISLE OF MAN’S LEADING BUSINESS MAGAZINE

BUSINESS DIRECTORY

Business Directory brought to you by

www.bigred.im Big Red Building, Ronaldsway Industrial Estate, Ballasalla, IM9 2AA

Accountants Atla Accountancy Services Ltd, Ground Floor, 11-13 Hill Street, Douglas Tel +44 1624 777403 hello@atla.im

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

Boothmans, Millennium House, Victoria Road, Douglas.

Tel. +44 1624 611926 bca@boothmans.com

Nicola Bowker & Co., Alexander Buildings, 37 New Road, Laxey.

Tel. +44 1624 861271 nicola@nicolabowker.co.uk

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

UHY Crossleys LLC, P. O. Box 1, Portland House, Station Road, Ballasalla.

Tel. +44 1624 822816 mail@crossleys.com

CM Partners, 8, St George’s Street, Douglas.

Tel. +44 1624 665100 admin@cmiom.com

Crowe Isle of Man LLC, 6th Floor, Victory House, Prospect Hill, Douglas.

Tel. +44 1624 627335 mail@crowe.im

David Gelling & Associates, 44 Main Road, Onchan.

Tel. +44 1624 615500

Deloitte LLP, The Old Courthouse, Athol Street, Douglas.

Tel. +44 1624 672332

EY, Rose House, 51-59 Circular Road, Douglas.

Tel. +44 1624 691800 www.ey.com/im

Endor Consultants LLC 18-20 N Quay, Douglas.

Tel: +44 1624 676550 info@endorconsultants.com

Enigma Accountancy and Bookkeeping Ltd. Willow House, 61-69 Main Rd, Onchan Tel: +44 7624 618322

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

Grant Thornton, Exchange House, 54/62 Athol Street, Douglas .

Tel: 44+ 1624 639494 info@im.gt.com

Greenfinch Accountancy Ltd, Shee Yee, 12 Ballachrink, Colby.

Tel: +44 1624 833727

Greenwave Accountants, Awin Ruy, Lower Ballachrink Farm, St Marks Road, Ballasalla Tel: +44 1624 838434

Greystone LLC, 18 Athol Street, Douglas.

Tel +44 1624 620711 mail@greystone.im

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

Hotchkiss Group, Suite D, Champion House, Tromode.

Tel. +44 1624 872140 tax@hotchkiss.im

Hunter Tax Consultants Ltd, First Floor, Milbourn House, 13a St George’s Street, Douglas.

Tel. +44 1624 625765

In Safe Hands, 75 Bucks Road Douglas, IM1 3EF Tel. +44 1624 616133 contact@insafehands.im

Invicta Accounting Ltd, 24 Athol Street, Douglas, IM1 1JA Tel. +44 1624 672358

Jessup & Co, 44 Athol Street, Douglas.

Tel. +44 1624 625666

K5 Tax & Accounts Ltd, Museum Buildings, Church Road, Port Erin.

Tel. +44 1624 833776 enquiries@k5ltd.im

KPMG, Heritage Court, 41, Athol Street, Douglas.

Tel. +44 1624 681000 info@kpmg.co.im

LK Accounting Limited ‘Ballabundu’, Chapel Lane, Baldrine, IM4 6DG Tel. +44 1624 664665 hello@lkaccounting.im

Peter D. Lace, 17 Peel Road, Douglas.

Tel. +44 1624 661640

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

OrmCo Accounts Alma House, 7 Circular Road, Douglas.

Tel: +44 1624 610547 sales@ormcogroup.com

PricewaterhouseCoopers LLC, Sixty Circular Road, Douglas.

Tel. +44 1624 689689

Red Accounts Ltd., 24 Hillberry Heights, Douglas.

Tel: +44 1624 679924

Shimmin Wilson & Co, 13-15 Hope Street, Douglas.

Tel. +44 1624 627744 mail@shimminwilson.com

Suntera Global Peveril Buildings Peveril Square Douglas Tel: +44 (0) 1624 683242 info@suntera.com

Thompsons The Accountants, 1st Floor, Royal Trust House, 60-62 Athol Street, Douglas.

Tel. +44 1624 611108

E Thorn, 47 Buttermere Drive, Onchan.

Tel. +44 1624 613782

Michael Turner & Co, Ballanorris Court, Douglas Road, Ballabeg.

Tel. +44 1624 822534 mbturner@manx.net

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Licence Holders, Class 2 - Investment Business Ardan International Wealth Platform, 2nd Floor, Goldie House, 1-4 Goldie Terrace, Upper Church Street, Douglas Tel. +44 1624 652555

Barclays Bank PLC Eagle Court, Circular Rd, Douglas.

Tel. +44 1624 684444

Blackford Financial Services Ltd, 34 Athol St, Douglas.

Tel. +44 1624 627674

Blue Square Wealth Management Limited, 2nd Floor, Queen Victoria House, Victoria Street, Douglas.

Tel: +44 1624 645313

Blythe Financial Limited, 11 Myrtle Street, Douglas.

Tel: +44 1624 619180

Brooks Macdonald Asset Management (International) Ltd 3rd Floor, Exchange House, 54-62 Athol Street, Douglas.

Tel. +44 1624 831320

Canaccord Genuity Wealth (International) Limited, 55 Athol Street, Douglas.

Tel. +44 1624 690100

Capital Financial Markets Ltd, Capital House, Circular Road, Douglas.

Tel. +44 1624 654200

Capital International Ltd, Capital House, Circular Road, Douglas Tel. +44 1624 654200

Chartwell Financial Planners Ltd, Quayside House, 6 Hope Street, Castletown.

Tel. +44 1624 801409

Chase Financial Services Ltd, 10-12 Prospect Hill, Douglas.

Tel. +44 1624 612611

Creechurch Capital Ltd, Atlantic House, 4-8 Circular Road, Douglas.

Tel: +44 (0) 653800 info@creechurchcapital.com

DBAY Advisors Limited, 4th floor, 64b Athol Street, Douglas.

Tel +44 1624 690 900 info@dbayadvisors.com

Edgewater Associates Ltd, 1st Floor, Clarendon House, Victoria Street, Douglas.

Tel. +44 1624 654000 enquiries@edgewater.co.im

FIM Capital Ltd, 55 Athol Street, Douglas.

Tel. +44 1624 681250 enquiries@fim.co.im

Hockney Stevens Chartered Financial Planners Kerrowglass, Stockfield Road, Kirk Michael.

Tel. +44 1624 877864

HSBC Bank Plc, HSBC House, Ridgeway Street, Douglas.

Tel. +44 1624 684840

Independent Financial Consultants Ltd., 37 Ballanard Road, Douglas.

Tel. +44 1624 671679

Investasure Financial Services Ltd, Falcon House, 22-24 Ridgeway Street, Douglas.

Tel. +44 1624 615751

Investment Interest Management Ltd, Goldie House, Goldie Terrace, Douglas.

Tel. +44 1624 863125

JMR Limited, Finance Centre, Close Beg, Ballawattleworth, Peel.

Tel +44 1624 842514

Knox D'arcy Asset Management Ltd, 3rd Floor, Analyst House, Douglas.

Tel. +44 1624 623994

LMS Partners Limited, 14 Athol Street.

Douglas.

Tel +44 1624 666888 enquiries@lmspartners.co.im

MAC Financial Limited, MAC House, 64 - 65 Athol Street, Douglas.

Tel +44 1624 639450

Marriott Isle of Man Ltd, 55 Athol Street, Douglas.

Moore Dixon Financial Services, 26-28 Athol Street, Douglas.

Tel. +44 1624 662020

Nedbank Private Wealth Ltd, St Mary's Court, 20 Hill Street, Douglas.

Tel: +44 (0) 645000

Oceanic Investment Management Ltd, St George's Court, Upper Church Street, Douglas.

Tel: +44 (0) 1624 663616

Osborne Financial Services Ltd, Clearview, Shore Road, Ballaugh.

Tel: +44 (0) 1624 898034

Ramsey Crookall & Co, Securities House, 38-42 Athol Street, Douglas.

Tel. +44 1624 673171

Resilience Asset Management (IOM) Ltd, St Georges Tower, Hope Street, Douglas.

Tel: +44 1624 602020

The Royal Bank of Scotland International Ltd, Royal Bank House, 2 Victoria Street, Douglas.

Tel. +44 1624 646464

Standard Bank (IOM) Ltd, Standard Bank House, One Circular Road, Douglas.

Tel. +44 1624 643643 www.sboff.com sbiom@standardbank.com

Thomas Miller Investment Samuel Harris House, 5-11 St Georges Street, Douglas.

Tel +44 1624 645200 tminvestment.com

Thornton Associates Ltd, Top Floor, St John’s Mill, Mill Road, St John’s Tel. +44 1624 660220

Insurance Managers Aon Insurance Managers (Isle of Man) Ltd, St George's Court, Upper Church Street, Douglas.

Tel +44 1624 692420

Canada Life International Ltd, Canada Life House, Isle of Man Business Park, Douglas.

Tel. +44 1624 820200 info@canadalifeint.com

Capita Life and Pensions Services (Isle of Man) Ltd, 43-51 Athol Street, Douglas.

Tel. +44 (0) 1624 691000

Friends Provident International Services Ltd, Royal Court, Castletown.

Tel +44 1624 821212

Hansard Administration Services Ltd, Harbour Court, Lord Street, Douglas.

Tel. +44 (0) 1624 688000

Isle of Man Insurance Management Ltd, IOMA House, Hope Street, Douglas.

Tel +44 1624 681200 www.iomagroup.co.im

Marsh Management Services Isle of Man Ltd, Rose House, 51-59 Circular Road, Douglas.

Tel +44 1624 630500

Monument International PO Box 391 Douglas Tel. +44 (0) 1624 683683 ask@monument.im

Quilter International Business Services Ltd, PO Box 159, King Edward Bay House, King Edward Road, Onchan, Tel. +44 (0) 1624 655555

SIGCo Management (IOM) Ltd, Level 2, Samuel Harris House, 5-11 St Georges Street, Douglas.

Tel. +44 1624 664095

RL360 Services Ltd, International House, Isle of Man Business Park, Douglas, Tel. +44 1624 681681 csc@rl360.com

Thomas Miller Isle of Man Ltd, Level 2, Samuel Harris House, 5-11 St Georges Street, Douglas.

Tel. +44 1624 645200

Thomas Miller Captive Management Ltd, Level 2, Samuel Harris House, 5-11 St Georges Street, Douglas.

Tel. +44 1624 645200

Utmost Administration Ltd, Walpole Ave, Douglas.

Tel. +44 1624 643345

Zurich Financial Services (Isle of Man) Insurance Manager Ltd, Isle Of Man Business Park, Douglas.

Tel. +44 1624 691111

Banks - Licenceholders Barclays Bank PLC, Eagle Court, Circular Rd, Douglas.

Tel. +44 1624 684444

Capital International Bank Ltd, Capital House, Circular Road, Douglas.

Tel. + 44 1624 654200 cib-bd@capital-iom.com

Cayman National Bank (IOM) Ltd, Cayman National House, 4-8 Hope Street, Douglas.

Tel. +44 1624 646900

Conister Bank Ltd, Clarendon House, Victoria Street, Douglas.

Tel. +44 1624 694694

HSBC Bank PLC, 88-90 Strand Street, Douglas.

Tel. +44 1624 684840

Lloyds Bank International Ltd, PO Box 111, Villiers House, Victoria Street, Douglas.

Tel. +44 1624 638200

Nedbank Private Wealth Ltd, St Mary’s Court, 20 Hill Street, Douglas.

Tel. +44 1624 645000

Santander International PO Box 123 19/21 Prospect Hill, Douglas Tel 01624 641888 info@santanderinternational.co.uk

The Royal Bank of Scotland International Ltd, Royal Bank House, 2 Victoria Street, Douglas.

Tel. +44 1624 646464

Standard Bank Isle of Man Ltd, Standard Bank House, One Circular Road, Douglas.

Tel. +44 1624 643643 sbiom@standardbank.com

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Business Directory brought to you by

Advocates www.bigred.im Big Red Building, Ronaldsway Industrial Estate, Ballasalla, IM9 2AA

Advocate John Rimmer Ltd, Fort Anne, Douglas.

Tel +44 1624 621466 mail@advocatejr.com

Advocates Smith Taubitz Unsworth Ltd, 77-79 Bucks Rd, Douglas.

Tel +44 1624 677888 reception@advocates.co.im

Alma Legal, 1 Athol Street, Douglas.

Tel. +44 1624 652599 contact@almalegal.com

Appleby, 33-37 Athol Street, Douglas.

Tel. +44 1624 647647 www.applebyglobal.com iom@applebyglobal.com

Athena Law Ltd, 3 Ballanard Woods, Ballanard Road, Douglas.

Tel. +44 1624 622100

BridsonHalsall, Havelock Chambers, 16-18 Mount Havelock, Douglas.

Tel. +44 1624 614422 reception@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 law@cainsgb.co.im

Callin Wild, Bank Chambers, 15-19, Athol St, Douglas.

Tel. +44 1624 623195 mail@callinwild.com

Carters, 9 Circular Road, Douglas.

Tel. +44 1624 662809 reception@carters.co.im

Chambers of Paul T Rodgers, 8 Finch Road, Douglas.

Tel. +44 7624 232242 paul@manxadvocate.com

Corbridges, Chancery House, 2 Albert Street, Douglas.

Tel. +44 1624 690060 mail@corbridges.com

Coren Law Ltd, 3rd Floor, Queen Victoria House, Victoria Street, Douglas. enquiries@corenlaw.im

Corlett Bolton & Co., 4, Finch Road, Douglas.

Tel. +44 1624 676868 mail@corlettbolton.com www.corlettbolton.com

David Reynolds Advocate, 23 Circular Road, Douglas.

Tel. +44 1624 610880

Dickinson Cruickshank Ramsey, Masonic Buildings, Water Street, Ramsey.

Tel. +44 1624 812107

DQ Advocates, The Chambers, 5 Mount Pleasant, Douglas.

Tel. +44 1624 626999 info@dq.im

FinLaw, Cameo House, 19 Duke Street, Douglas.

Tel. +44 1624 855320

Gray Law Advocates, 87 Parliament Street, Ramsey.

Tel. +44 1624 818058 reception@gla.co.im

Hannan Law, 5 Hill Street, Douglas.

Tel: +44 1624 628900 mail@hannanlaw.im

Humphrey and Helfrich, The Old Courthouse, Athol Street, Douglas.

Tel: + 44 (0)1624 651951 info@humphreyandhelfrich.com

Ian Kermode Advocate, Court View Chambers, 14 Albert Street, Douglas.

Tel. +44 1624 611117 www.ik.im

Innova Law, Ground Floor, 16-18 Finch Rd, Douglas.

Tel. +44 1624 654900 innovalaw.im

Kelly, Luft, Stanley & Ashton, 2 Sydney Mount, Douglas.

Tel. +44 1624 674316 law@kellyluft.com

Laurence Keenan, Victoria Chambers, 47, Victoria Street, Douglas.

Tel. +44 1624 611933 info@lklaw.co.im

Kerruish Law Ltd, First Floor, Bourne Concourse, Peel Street, Ramsey.

Tel. +44 1624 623919

Kinley Legal 4 Albert Street Douglas.

Tel: +44 1624 640366 contact@kinleylegal.com

Kneale Advocates Ltd, 2nd Floor, Hillary House, Prospect Hill, Douglas. +44 7624 413712 www.knealeadvocates.com

Long and Co Ltd, ‘Eyreton’ Quarterbridge Road, Douglas.

Tel. +44 1624 319897

LVW Law, Museum Buildings, Church Road, Port Erin.

Tel. +44 1624 836757 barrister@manx.net

M&P Legal, New Court Chambers, 23-25 Bucks Road, Douglas.

Tel. +44 1624 695800 law@mplegal.im

Maher Law, Third Floor, 4 Athol Street, Douglas. +44 1624 770080

MannBenham Advocates, 49 Victoria Street, Douglas. +44 1624 639350

Myerscough & Clegg, 6 Hill Street, Douglas.

Tel. +44 1624 616404

Nicolle Plumley Advocate, Bellevue House East, Belle Vue, Peel.

Tel. +44 1624 844445

Nigel Cordwell Advocate, The Old Vicarage, Princes Road, Douglas.

Tel. +44 1624 677277

Paterson Property Law Ltd, 39 Ballagarey Road, Glen Vine, Douglas.

Tel. +44 7624 315800

Pringle Law, Victoria Court, 16 Athol Street, Douglas.

Tel. +44 1624 612200 mail@pringle-law.com

Simcocks, Ridgeway House, Ridgeway Street, Douglas.

Tel. +44 1624 690300 enquiries@simcocks.com

SW Legal, The Engine House, Castletown.

Tel. +44 7624 479222 info@swlegal.im

Travers Law Ltd, 4th Floor, Hillary House, Prospect Hill, Douglas.

Tel. +44 1624 649321

Wood Law, 16 Peel Road, Douglas.

Tel. +44 1624 625007 www.woodlaw.im

Weatherill Advocate & Solicitor, 20 Athol Street, Douglas.

Tel. +44 1624 674994

John Wright, 16 Willowbrook Gardens, Douglas.

Tel. +44 1624 611999 mail@johnwright.co.im

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Email new appointments to portfolio@manx.net, including a JPEG image where possible

MAC Group appoints Ed Walter as managing Director of MAC Financial

Louise Haynes appointed director at Boal & Co

LOUISE HAYNES

ED WALTER

MAC Group is pleased to announce the promotion of Ed Walter to Managing Director of MAC Financial.

Ed is a long-serving and highly respected member of the MAC Financial team. Over the years, he has played a central role in shaping the direction of the business—building long-lasting relationships with clients, providing thoughtful leadership, and offering unwavering support to colleagues. His promotion recognises the outstanding contribution he has made to the business and reflects the Board’s confidence in his ability to lead MAC Financial into its next chapter.

With over 30 years in the financial services industry, Ed is a Chartered Financial Planner and Fellow of the Personal Finance Society—reflecting his dedication to excellence and to upholding the highest professional standards. In 2023, he was awarded the Glyn Gilbert Award for outstanding academic success.

As Managing Director, Ed will lead MAC Financial’s day-to-day operations, ensuring the continued delivery of the high standards of service and advice that clients have come to expect. MAC Financial comprises a team of 10 financial advisers supporting both private and corporate clients,

alongside paraplanning, compliance, administration and marketing teams. The firm is part of MAC Group, the Isle of Man’s largest combined independent financial advisory and insurance broking business.

Earlier this year, the team was further strengthened following the acquisition of Thornton Chartered Financial Planners’ client book.

Ed Walter commented: “I’m honoured to step into the role of Managing Director at such an exciting time for MAC Financial. Having been part of the business for many years, I’ve seen first-hand the dedication and talent of our people, and I’m proud to lead a team that puts clients at the heart of everything we do. I look forward to building on our strong foundations and helping to shape the future of the business.”

Jon McGowan, CEO of MAC Group, added: “Ed’s promotion is a natural evolution of the leadership at MAC Financial. He has consistently demonstrated care, integrity, and strategic vision—all qualities we value immensely as the business continues to grow.

This dedicated Managing Director role will ensure MAC Financial continues to thrive under Ed’s focused, day-to-day leadership. I’m absolutely delighted to see him step into this position.”

Isle of Man headquartered pensions and retirement benefit solutions provider, Boal & Co, has announced the appointment of Louise Haynes to its Executive Management Team as a Director.

In addition to her appointed board responsibilities, Louise will provide group strategic leadership to Boal & Co’s international personal pension business, scheme accounting and group compliance teams whilst also managing a portfolio of personal clients.

As a member of the Boal & Co technical committee, Louise will also support Boal & Co’s wider product lines with internal technical advice and expertise.

Chief Executive Officer, Mark Kiernan, said of Louise’s appointment: “I am thrilled to welcome Louise to Boal & Co. The addition of Louise to our team is a hugely positive step to support our strategy to strengthen and evolve our business both locally and internationally.

Louise brings substantial experience in the Isle of Man pensions market and is ideally placed to hit the ground running to provide executive lead to our established international personal products, both here and in Gibraltar.”

Louise added: “I have received a warm welcome to Boal & Co and am enjoying getting to know the experienced and dedicated teams. Boal & Co has a strong customer centric ethos which is evident in the people focused culture and I’m looking forward to my future with the company”.

With more than 20 years’ experience in Isle of Man pensions, Louise was Managing Director of the pensions division of an Isle of Man financial services company before joining Boal & Co.

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Email new appointments to portfolio@manx.net, including a JPEG image where possible

Isle of Man Energy enhances trust and transparency with appointment

CHRIS HALL

Islands Energy Group has appointed Chris Hall as the Chairperson of Isle of Man Energy (the trading name of Manx Gas Ltd) as the company continues expand its sustainable offerings to customers.

Chris brings decades of Manx business experience in senior leadership roles such as CEO and latterly Non-Executive Director of Manx Telecom and currently Co-founder and Chair of Stacuity.

About his new appointment, Chris said: “I am excited to be joining Isle of Man Energy at such a pivotal moment. Gas is an indispensable part of the Manx energy mix and Islands Energy Group has big plans to support our island as we transition to lowcarbon energy technologies, including renewable gas. I look forward to helping the company manage this transition in a way that maximises the benefits to all islanders.”

Graeme Millar, CEO of Islands Energy Group, said: “I’ve known Chris for 15 years and have always been impressed by his focus on delivering great service and value to the Manx community. In his new role as chair, he will provide valuable insight and oversight as we continue to carefully balance the needs of our customers, the interests of the Manx community and economy and our own need for investment in our employees and our infrastructure.

“Chris will be an invaluable support to Islands Energy Group as we expand our services to our customers, delivering ever greener, more efficient and cost-effective energy across the Isle of Man.”

Chief Risk and Compliance Officer appointed HSBC has appointed Korsan Cevdet as Chief Risk and Compliance Officer (CRCO) for the Channel Islands and Isle of Man (CIIOM).

In his new role Korsan will oversee the management and implementation of the Bank’s risk and compliance framework across the islands while also driving regulatory excellence, acting as the Registered Officer in Jersey and as the main point of contact for the regulators in Jersey, Guernsey and the Isle of Man. Korsan has a wealth of experience honed working at a number of international banks spanning locations including Hong Kong, Switzerland, Singapore, Australia and Canada.

He joined HSBC nine years ago and has held positions including Global Head of Internal Audit with

portfolios across Wealth and Personal Banking (WPB), specifically Asset Management, Retail and Global Private Banking and Wealth, and has in-depth knowledge of conduct and cross border risk management, client and product due diligence, securities operations, as well as climate and sustainability risk.

Prior to being appointed to CRCO, Korsan was HSBC’s Global Head of Environment, Social, and Governance (ESG) Audit, based in the UK. Warwick Long, CEO, HSBC, Channel Islands and Isle of Man, said: “Korsan brings an impressive depth of experience to the role of CRCO that has been built over an extensive global career and his expertise and global experience will be invaluable to both our Islands and international businesses.

KORSAN CEVDET

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