Number 16

ISSUE 16

David Bell, founding director.

24 October in Miami

WELCOME FROM DAVID BELL

Welcome to Number 16.

I wanted to start this edition by sharing

promotes collaboration amongst clubs

Team PCD’s heartfelt thanks for your

looking down the barrel of bankruptcy;

continued support throughout 2019,

and give a sneak peek of what’s to come

and by wishing you all the happiest of

in 2020.

holidays!

Contributions to this magazine are an

We have taken PCD Club to new

exclusive benefit of prime and corporate

heights and new locations this year,

membership. If you are interested in

and welcome you to read our Year in

contributing to future editions, please

Review feature over the next few pages

contact lucy@pcd.club.

for an overview of what we’ve achieved

Membership remains the most cost

in 2019.

effective way to attend multiple events

In fact, we held a record-breaking 38

and gives you full access to the valuable

events with our growing community

network of contacts that can be found

of now more than 3,000 private client

within PCD Club. It also allows an easy

professionals in 2019 alone. We have

and convenient way to attend events

released our 2020 dinner dates online,

on a regular basis while reducing the

which will be available to book in

admin burden. If you have questions

the New Year. Should you have any

about joining the club or renewing your

questions in the meantime, please don’t

membership, simply contact

hesitate to contact us.

members@pcd.club.

In this edition of PCD’s digital

All the best for a Happy and Prosperous

magazine, we meet members from

New Year!

Knox House Trust and Freeths; share

David Bell, founding director.

some insider tips for travelling and

#jointheclub #oneteamonedream

networking with us in Mumbai on 19

#makeithappen

February; hear from Consultant, Agent and Introducer, José Romanillos, as he

3

A YEAR IN REVIEW

A year in review

By PCD Founder David Bell

dinner delegates who sold international property had a Manchester residential

What a year it has been for PCD Club‌

property block advertised in her email

We launch our programme for

signature. So I was pleased to head

2019 in the majestic metropolis of

from the heat of Mumbai to a wintery

Mumbai. Having never been to India

Manchester for our second networking

before, I had mixed emotions about the

dinner in the city.

upcoming event. I was excited about the

Our Manchester dinner built on

opportunity of visiting a new country;

the success of our initial event, which

but facing all the issues of injections,

was hosted at King Street Townhouse,

visas and food safety, I was also feeling

to a larger venue of Radisson

slightly apprehensive.

Edwardian. We welcomed over 120

I need not have been so concerned!

guests to the city from the Isle of Man,

Our event was a great success and

London, Channel Islands, Switzerland

the St Regis Hotel looked after me

and elsewhere. We will return to

and our event wonderfully. Our event

Manchester with our annual dinner in

featured sponsors from London, Jersey,

March 2020. I learnt my lesson from

Malta and Dubai coming together to

February dates in Manchester when the

meet local professional advisors to

“Beast from the East� struck our first

international families. We enjoyed the

event.

most delicious food and hospitality and

The next memorable event from

I am looking forward to being back in

the calendar came via my first visit

the country in February.

to China for our Shanghai dinner

When I was in Mumbai, an interesting

in April. Having flown in overnight

observation was the level of interest in

from London, I arrived feeling jet

UK property amongst Indian HNWs,

lagged to meet my good friend Blake

particularly in key regional cities such

Noah picking me up from the airport.

as Manchester. One of the Mumbai

Blake guided me through the buzzing

4

A YEAR IN REVIEW

cityscape, later that night heading out

work more closely in the years ahead.

for dinner and drinks. Fortunately, he

With the support of Finance Isle of

didn’t hold my dozing off against me!

Man, all the professionals involved were

The life of the long-haul traveller...

able to communicate the jurisdiction’s virtues and where the opportunities to

The Shanghai dinner was a notable

collaborate are strongest.

success because it unlocked

In late October, we headed to a

opportunities between lawyers and wealth managers in China with those

sunny Miami, which was my first visit

from a number of other jurisdictions:

to this happening city. The Brickell

the UK, Switzerland, Channel Islands,

Avenue area is a glitzy high rise CBD

Isle of Man, Singapore and elsewhere.

reminiscent of Dubai, with a real

For foreign advisors visiting China,

buzz to the business environment.

this gave unparallelled access to

Professionals there are busy engaged

advisors working with Chinese UHNW

advising UHNW families from all over

clients on significant transactions

LATAM and very focused on the cross

looking for outside expertise. We

border wealth advisory arena. We had

are seeking to develop this theme in

a terrific dinner at East hotel, ending

future visits to China and to bring

in the early hours on the rooftop bar

Chinese professionals into the UK and

that is famous in the city. I managed to

Switzerland.

get out for a stroll down Ocean Drive in South Beach, but will be back to do

Next up, summertime by the

more sightseeing (and partying) next

lake in Geneva is hard to beat; we

October!

enjoyed a wonderful dinner at the Mandarin Oriental shared by 130

When heading to Hong Kong in

guests. The event was a successful

November, we had been following the

collaboration with a variety of firms

news very closely due to the unfolding

dealing with the Isle of Man. The

political protests disrupting the city.

lead sponsor, Döhle Corporate and

I arrived on Wednesday evening, fresh

Trust, had done significant business

from a successful event in Dubai, not

with Swiss advisors over the years but

knowing how the event the following

was keen to use the PCD platform to

night would unfold. When I took a

educate and explain how they could

cab from the airport, the driver said,

5

A YEAR IN REVIEW

“Don’t go out tonight, or tomorrow

100 guests present for the dinner that

night”. I neglected to tell him that I was

evening. A great success and massive

organising dinner for 100 guests the

relief!

following day; I didn’t think he would

We finished the year in glorious

recommend it as a viable option! We

sun-bathed Cape Town. I spent a

pull up outside the Mandarin Oriental

relaxing 3 days at the One & Only

to see paving slabs pulled up to use

Hotel at the V&A Waterfront, which

as protestor ammo and “F**k PoPo”

is a truly magnificent hotel. Our Cape

written on the road and walls opposite.

Town dinner was a success, backed once

Not a promising start...

again by Jersey Finance. We were lucky

We spent the next day nervously

enough to have SA Rugby legend, Jean

preparing for the event and scouring

de Villiers, present at the event who said

the news. I was convinced that our

a few words and took questions from

numbers for the dinner would be hit.

guests at the dinner. The atmosphere

At lunchtime, we arranged a successful

was magic - I would have bottled it, if I

private lunch with Equiom that had

could!

a full complement of guests, which

David Bell, founding director.

gave me cause for hope. We were

#jointheclub #oneteamonedream

communicating with the guests: “we are

#makeithappen

still on!” Fortunately, guests stuck with us and supported the event and we had

JOIN DAVID IN 2020

6

Hey Santa, have you renewed your PCD Club membership yet?

DINNER DESTINATIONS

Dinner destinations for 2020

Isle of Man Guernsey

New York

Jersey

Miami

8

DINNER DESTINATIONS

Manchester London Zurich Geneva Shanghai

Dubai

Hong Kong Mumbai

Nairobi Singapore

Cape Town

9

SPOTLIGHT ON

Spotlight on Mumbai

Building on the success of this year’s launch

financial centres. An expert panel will

in Mumbai, we are delighted to return to the

discuss international estate planning,

city on 19 February 2020 at the prestigious

succession and mobility for international

St Regis Hotel.

Indian families, alongside a drinks reception and networking dinner.

ST REGIS HOTEL WEBSITE

A full guest list will be provided to all

The event is kindly supported by Jersey

delegates in advance of the event. We are

trustee, Hawksford; London law firm,

expecting good numbers of guests from

Edwin Coe and Range Developments,

the Channel Islands, UK, Isle of Man and

a Dubai based property developer and

Switzerland.

citizenship advisor.

Take a look here for last year’s gallery and

The majority of the audience will be

guest list for a flavour of what to expect.

composed of private client lawyers, accountants, wealth managers, bankers and

Registration for our 2020 dinners will open

trust companies.

in the New Year; please contact

tickets@pcd.club with any questions in

Our goal is to make new connections

the meantime.

between advisors based in key global 10

WHAT’S NEXT

What’s next?

NETWORKING DINNER

NETWORKING DINNER

MUMBAI 19-02-20

VIEW SINGAPORE 27-02-20

NETWORKING DINNER

NETWORKING DINNER

VIEW MANCHESTER 19-03-20

VIEW LONDON 26-03-20

VIEW ALL UPCOMING EVENTS

11

M EMBERS INSIDER

Members’ Insider: Mumbai

The financial and commercial capital of India, Mumbai is an international hub for business travellers, offering a comfortable repose after networking events and ample opportunity to explore culture or cuisine during free time.

So you’ve just found out you’re going be in Mumbai, India in February 2020! Check out our insider guide for the business traveller with everything you need to know about traveling to this incredible city.

When to Travel: February 2020. Roundtrip business class airfare available from £1,750

Reserve Now For a seamless experience that balances business with the best Mumbai has to offer, plan your upcoming trip with @luxurylondonguy today. With over 20 years of experience in the luxury hospitality industry, we offer insights and itineraries that take the stress out of work-related travel, allowing you more time to decompress or discover new sites while you’re on the road.

12

M EMBERS INSIDER

Places to Stay.

Taj Mahal Palace

The Oberoi

Established in 1903, the prestigious Taj

Spacious suites, stunning views, and

Mahal Palace holds the title of India’s first 5-star service characterize The Oberoi, luxury hotel, famous for its stylish suites

Mumbai’s modern luxury hotel that

and world-class hospitality. Its convenient

has rightfully earned Travel + Leisure’s

central location in South Mumbai offers

World’s Best Award for 2nd Best City

iconic views of the Arabian Sea and

Hotel in Asia. Featuring rooms furnished

Gateway of India, and easy travel to most

with writing desks and wall-to-wall

destinations. Home to 9 of the city’s most

windows overlooking the ocean and

acclaimed restaurants and bars, this lavish Queen’s Necklace, Mumbai’s iconic property has hosted kings and celebrities

display of city lights along the shoreline,

from around the world and, is the perfect

The Oberoi was designed with business

place to unwind after a day’s work.

travellers in mind.

Rates from: £350 per night

Rates from: £175 per night

Exclusive Virtuoso Amenities Include:

Exclusive Virtuoso Amenities Include:

• $100 USD food & beverage credit

• *Upgrades upon arrival

• Daily complimentary breakfast buffet

• Full breakfast for 2 guests per bedroom

for 2 guests per room

• One complimentary lunch at Ziya

• Early check-in and late check-out

for up to 2 guests per room (excluding

offered upon availability

alcohol, taxes and gratuities)

• Upgrades offered upon availability at

• Fresh fruit and flowers daily

time of check-in

• Business centre and meeting rooms

• Complimentary WiFi

• *Early check-in and late check-out

• 24-hour fitness & business centre

• Complimentary Wi-Fi * Subject to availability 13

M EMBERS INSIDER

Where to Eat & Drink Ziya

AER Bar & Lounge

The Oberoi’s signature restaurant, Ziya

A sleek rooftop bar offering stunning sea

is an elegant Eastern experience with

and cityscape views, AER Bar & Lounge

a menu of traditional Indian flavours

is the ideal evening setting, featuring a

reinvented by two-Michelin-starred Chef

crafted menu of complex cocktails.

Vineet Bhatia.

What Not to Miss Elephanta Festival: February 13-15,

the opportunity to attend TedX Gateway,

2020

India’s one-day conference featuring

For the leisure traveller, Mumbai’s

inspiring speakers that share unique and

Elephanta Festival is held near World

innovative ideas.

Heritage Site Elephant Cave and

Film City Tours: Recurring

commemorates Indian heritage as a

Complete your trip to Mumbai with

celebration of dance, art, and sculpture. A

a visit to one of the city’s famous

must experience opportunity perfect for a

Bollywood studios, where you can

pre or post business trip vacation

witness India’s famous glam movie

TedX Gateway: February 23, 2020

industry in action.

Philosophers and free-thinkers will enjoy

14

THOUGHT LEADERSHIP

Thought Leadership Pre-nuptial agreements: No longer the realm of the UHNW and celebrities

By Irpreet Kohli, Director at Freeths LLP

READ ARTICLE

Fusion Consulting triumphant in historic HMRC victory

By Mitch Young, Co-Founder and Consultant of Fusion Consulting

READ ARTICLE

Fairway Group CEO named on Powerwomen list for sixth consecutive year

READ ARTICLE

Prime or corporate member?

Contact lucy@pcd.club to share your news or advertise.

15

MEET OUR MEMBERS Irpreet Kohli moved over from Taylor Vinters and deals with all areas of Private Client.

What do you love most about your role?

I love the buzz of helping clients get through what is often one of the most emotionally stressful and turbulent times in their lives and seeing them come through the other side – usually more positive and able to focus on their futures. It’s a journey where you get to know a lot about clients personally and I’m still in touch with many of my old clients who have become friends once everything is done.

What do you do for Freeths?

I am a specialist Family Lawyer dealing

Why did you join PCD?

with all the usual areas of family law,

I joined PCD over 3 years ago when

such as divorce, separation, financial

looking for a high level and quality

settlement, children arrangements

networking group for Private Client

and pre and post nuptial agreements.

Advisors. Little did I realise that it would

I also deal with a couple of more niche

very quickly become my primary place

areas such as interventions by third

for networking.

parties who have an interest in financial

At which PCD event will members see

settlements and applications for financial

you next?

provisions after an overseas divorce.

I am always at the London PCD dinners

I recently joined the London office at

and have occasionally ventured out to...

Freeths as a Director to grow the Family READ FULL INTERVIEW

Wealth Team along with Mike Bell, who

16

MEET OUR MEMBERS Patrick McCarrick when they first obtained their Trust and Company licence, I feel I have now come full circle. It is an honour to take up the MD role. The fact that I am not new to the business helps greatly. I’m already involved in the strategic direction of the business as an existing board member, making me fully aware of the opportunities and challenges that exist.

Plus, I have a great team of experienced professionals who support the vision for the business and go beyond what is expected of them on a daily basis.

What do you aim to achieve in your new

Patrick McCarrick is the newly

role?

appointed Managing Director at Knox

Service development and jurisdictional

House Trust (KHT), which he joined

expansion are key goals, whilst

in 2016. Originally heading up their

maintaining the exceptional standards of

Risk & Compliance division, Patrick

personal service our clients have come

who is based in the Isle of Man, now

to expect. I am excited to continue

leads the firm as it plans to develop

exploring wider opportunities for the

and grow the client base and expand

business, working collaboratively with

into international jurisdictions

trusted partners and the wider Knox

including the Far East and Europe.

group of companies (which KHT are

Tell our members how you are feeling

part of) to help differentiate KHT from

about your recent appointment?

other CSPs.

Having started my KHT journey READ FULL INTERVIEW

consulting for them nearly 9 years ago

17

NOTES FROM ABROAD

Notes from Abroad Collaboration instead of liquidation Accrington, Clydebank, Bury and now Bolton? - clubs looking down the barrel of bankruptcy should try to work together to survive. By J L Romanillos, MA TEP. Not that long ago this year I was personally involved in the attempted financial rescue of a football club. All very sudden and very stressful…

It started with a WhatsApp message one sunny June morning from a Madridbased contact who was representing a Spanish second division football club.

“Hi, José Luis. Please call me. Urgent!

Articles & Anecdotes // Football

Jaime.” read the message.

& Sports Industry // Tax, Legal & Banking // Wealth Management //

I called Jaime back immediately, curious

Women in Sport // Image Rights

to know what the matter was.

“We have a big problem, José Luis,” said

“Collaboration instead of liquidation”

Jaime. “The Club has a really serious

is number 2 in a series of 12 articles to

problem. We have 30 days to find an

be published by Consultant, Agent and

initial €1.5 Million or the club will be

Introducer, José Romanillos, over the

f...d. Spanish Federation Fees, licences

coming year. Titled “Notes from Abroad”,

and player salaries all to pay, plus fines

this series is based on his personal

- the club just hasn’t got the funds. Can

experiences in the industry of sports and

you help us find an investor? A Financial

entertainment.

Angel to save us?”

18

NOTES FROM ABROAD

After a series of further conversations

Valencia CF

and emails, I ascertained what the

Spanish League, 1999 Technical

principal issues were, the requirements

Bankruptcy

and the assets that could be used as

Only a last minute deal with Bancaja

collateral. And my potential fee. At

saved the Spanish club from liquidation.

this stage I did stress that this would

RCD Mallorca

be a tough call. Probably “mission

Spanish League, 2010 Bankruptcy

impossible”. And I then set about my

First Spanish club to have its UEFA

network to try and find a solution.

licence removed because of financial

Curiously, the history of football clubs

troubles.

getting into financial difficulties and

Bury FC

eventual liquidation is a long one, with

EFL, August 2019

numerous examples in Europe, and two

134-year-old club is expelled from the

very recent ones now in the UK:

EFL after failing to resolve its financial

Accrington FC

difficulties.

EFL Members 1888-1893

Bolton Wanderers FC

One of the 12 founding clubs of English

EFL, August/September 2019

football had to resign through crippling

Historic football institution given

financial losses. The club that later

until 12 September 2019 by the EFL to

emerged from the ashes, Accrington

complete the sale of the club or prove it

Stanley, also suffered a similar fate in

has sufficient funds to get to the end of

1966.

the season.

Third Lanark

The last example is a live case and

Scottish Football League

knowing personally some of the

One of Scotland’s most successful

former...

football clubs declared bankruptcy in 1967 and was liquidated.

READ FULL ARTICLE

Clydebank FC Scottish Football League, 1966-2002 Financial troubles resulted in a buy-

CONTACT JL ROMANILLOS

out by Airdrie FC, who in turn were liquidated.

19

DATES FOR 2020 19 FEBRUARY

MUMBAI

28 MAY

HONG KONG

22 OCTOBER

27 FEBRUARY

10 JUNE

5 NOVEMBER

MIAMI

SINGAPORE

GENEVA

SHANGHAI

19 MARCH

MANCHESTER

17 JUNE

NAIROBI

12 NOVEMBER

26 MARCH

LONDON

2 JULY

LONDON

19 NOVEMBER

12 MAY

30 SEPTEMBER

26 NOVEMBER

20 MAY

14 OCTOBER

3 DECEMBER

NEW YORK GUERNSEY

ZURICH

ISLE OF MAN

DUBAI

JERSEY

LONDON

CAPE TOWN

JOIN THE CLUB AT WWW.PCD.CLUB