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