Number 17

ISSUE 17

David Bell, founding director.

15 November in Singapore

WELCOME FROM DAVID BELL

Welcome to Number 17.

Welcome to a new decade of PCD Club!

opportunity in this thriving market.

We kickstart our 2020 events calendar

In March we return to the UK for

with an informative, engaging

dinners in Manchester and London.

breakfast panel discussion on

Beyond that, our calendar takes us right

entrepreneurs and exit planning,

across the globe to locations including

chaired by Ken Chapman of EFG

New York, Guernsey, Hong Kong,

Private Bank with expert panellists

Geneva, Nairobi, Zurich, Isle of Man,

representing Crossroad Partners and

Miami, Shanghai, Dubai, Jersey and

event sponsors Trowers & Hamlins.

Cape Town.

Our first dinner date for 2020 takes

Sponsorship opportunities are available

us to the bustling city of Mumbai,

for some of these locations so please

which is generously supported by Gold

contact sponsors@pcd.club to register

sponsors Hawksford from Jersey;

your interest.

and Silver sponsors Edwin Coe from

Contributions to this magazine are

London, Range Developments from

reserved for prime and corporate

Dubai and Invest Cyprus from

members and can be sent to

Cyprus. Before a relaxed evening of

lucy@pcd.club.

networking over dinner, an expert panel will discuss international estate

The PCD team is looking forward to

and succession planning as well as

working with all our members to build

relocation and mobility for HNW

on last year’s successes, ultimately

Indian families.

working to create opportunities that enable you to make relevant contacts

To understand why we are returning to

and enhance relationships in new and

Singapore in February with the

existing markets.

support of Gold sponsors Hawksford, take a look at our spotlight piece

David Bell, founding director.

in this magazine which highlights

#jointheclub #oneteamonedream

the growth of family offices and

#makeithappen 3

DINNER DESTINATIONS

Dinner destinations for 2020

Isle of Man Guernsey

New York

Jersey

Miami

4

DINNER DESTINATIONS

Manchester London Zurich Geneva Shanghai

Dubai

Hong Kong Mumbai

Nairobi Singapore

Cape Town

5

SPOTLIGHT ON

Spotlight on Singapore

With Asia now boasting 60% more

units dedicated to dealing with succession

billionaires than Europe and 25% more than

planning and family governance for UHNW

North America*, the continent is expected

Asian families. This is not unprecedented

to witness one of the largest-ever waves of

in other jurisdictions, with Credit Suisse

wealth transfers over the next 20 years as its

recently setting up a similar division to

wealth matures.

support the growth of family offices in China.

According to the Monetary Authority of Singapore (MAS), the number of family

Proper structuring conducted by a culturally

offices in this flourishing international

sensitive and globally-minded team in

financial centre has quadrupled from

Singapore could be seen as an efficient and

2016 to 2018, most of which are focused

attractive alternative to using an offshore

on intergenerational planning. A report

special purpose vehicle; even UHNWs from

by EY and DBS estimates that there are

its biggest rival, China, are increasingly

10,000 single family offices (SFOs) globally,

favouring Singapore over Hong Kong

of which an earlier report calculated that

after recognising that it boasts generous

500 SFOs exist in Asia. This figure has

tax incentives in a multiracial, bilingual,

increased by 15% in the last year.

financially strong and politically stable society, currently unlike its own.

A number of private banks such as DBS have responded by establishing family office

What’s more, income and gains of a 6

SPOTLIGHT ON

registered charity in Singapore is tax exempt

wanting to build contacts in key private

and certain donations can qualify for a very

wealth hubs such as Singapore regularly use

generous 250% tax deduction for the donor.

our events as a platform to raise their brand

Therefore, guided by the philanthropy

profile and increase their contact book in

advisory services of certain family offices,

new markets.

Asian families are increasingly giving more meaningful amounts to international

WITH THE SUPPORT

philanthropic causes.

OF GOLD SPONSORS, HAWKSFORD, PCD CLUB

Indeed, Chairman of independent trust

RETURNS TO SINGAPORE

company Labuan, David Chong, told The

ON THURSDAY 27 FEBRUARY

Straits Times he was aware of family offices

AT THE RITZ CARLTON IN

that manage at least $200 million AUM

MARINA BAY. CLICK HERE TO

looking to locate in Singapore rather than

REGISTER

Hong Kong.

When planning their marketing strategy in

THE RITZ CARLTON HOTEL

response to such opportunities in Singapore,

WEBSITE

MAS officials have advised that wealth

*according to the 2019 Wealth Report by

managers should take a more considered,

Knight Frank

less aggressive approach for now. Advisors

7

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

8

MEET THE TEAM

Meet the team: Aon Dillon Best vacation you’ve been on?

I stayed at the most amazing little clifftop hotel called Château de la Chèvre d’Or in the South of France.

It is suspended above the Côte d’Azur - the sunset is the best I’ve ever seen.

Highly recommended, although a pink champagne to match the sunset is also a must!

If you could do another job for just one day, what would it be?

I would definitely be one of The Spice Girls!

Where are you from?

Motto or personal mantra?

I was born at St Mary’s in Paddington

Nothing is impossible; the word itself

and I went to school in Marylebone.

says I’m Possible.

What’s your role at PCD Club and where are you based?

I am Sponsorship Manager and am CONTACT AON

based in St Albans.

ABOUT SPONSORSHIP

What aspect of your role do you enjoy the

OPPORTUNITIES WITH PCD

most?

CLUB

Building relationships with our clients and watching the industry excitement that PCD Club is generating.

9

MEMBER’S INSIDER

Members’ Insider: Singapore

An established player in the global economy and a multicultural melting pot, Singapore has emerged in recent years as a top destination for tourism and business travellers alike. Blending sleek, modern skyscrapers against thriving natural greenery, the city-state has a distinguished futuristic feel, offering luxury amongst an aura of advancement. Check out our exclusive insider’s guide for everything you need to know about traveling to Singapore in 2020.

When to Travel February 26-March 1, 2020 Roundtrip airfare (business class) available from £3,900

10

MEMBER’S INSIDER

Where to Stay The Capella

• Upgrades offered upon availability at

Rates from $665 USD

time of check-in

Situated on the exclusive Sentosa Island,

• Complimentary high speed, enhanced

The Capella spans across 30+ acres

WiFi

of rainforest, effortlessly marrying

• Full service business centre with two

Singapore’s rich colonial heritage with

boardrooms

contemporary design in one luxurious resort. Boasting the most spacious

• 24-hour Living Room with a selection

accommodations in all of Singapore, The

of books and light refreshments

Capella is renowned for its grandeur as

• Airport transfer services

much as its top-quality service, providing guests with personalised experiences.

VISIT HOTEL WEBSITE

Among its highlighted features are three culinary experiences, an award-winning spa, and a unique 24-hour library where travellers can sit back and relax or find

The St. Regis Singapore

their focus.

Rates from $325 USD

Amenities include:

Elegant interiors, bespoke service, and a superior location have earned The

• One dinner at The Knolls for 2 guests

St. Regis Singapore a reputation as one

(excluding alcohol, tax, and gratuities)

of the country’s finest top tier luxury

• Daily complimentary breakfast buffet

hotels. Nestled in the heart of Singapore’s

for 2 guests per room

downtown embassy quarter, the lavish hotel, home to one of the most impressive

• Early check-in and late check-out

and exclusive art collections in Southeast

offered upon availability

Asia, sits just walking distance from

11

MEMBER’S INSIDER

several of the city’s top attractions. Home

offered upon availability

to six distinct dining options, Asia’s

• Upgrades offered upon availability at

premiere Remède Spa, and a refreshing

time of check-in

tropical pool, The St. Regis’ guests are perfectly situated to revel in the hotel’s

• 7 meeting rooms, equipped with state-

urban oasis or venture into the accessible

of-the-art technology

city-state.

• Full service business centre

Amenities include:

• Complimentary WiFi

• $100 USD equivalent food and beverage

• 24-hour room service

credit • Daily complimentary breakfast buffet at

VISIT HOTEL WEBSITE

Alley on 25 for 2 guests per room • Early check-in and late check-out

Where to Eat & Drink Candlenut

Atlas

The world’s first Michelin-starred

A glamorous after-hours venue with an

Peranakan restaurant, Candlenut features

ambience reminiscent of the European

a menu full of authentic, elevated

art deco era, classy cocktail bar Atlas is

Singaporean food, inspired by Chef

home to the world’s largest collection of

Malcolm Lee’s family recipes.

gin, and some of Asia’s finest spirits and champagnes.

VISIT CANDLENUT

VISIT ATLAS

12

MEMBER’S INSIDER

What Not to Miss Yiruma Live in Singapore: February 29, 2020 Indulge in an evening of classical music by the internationally acclaimed pianinstcomposer, Yiruma, known to captivate audiences and sell out concert stadiums.

TELL ME MORE Singapore Biennale: Every Step in the Right Direction: Ends March 22, 2020 Showcasing 77 artists from around the world, the 6th edition of this international contemporary art exhibition offers travellers the opportunity to explore and even interact with Singapore’s forward-thinking art scene.

TELL ME MORE Garden Rhapsody Show: Ongoing Complete your visit to Singapore by watching the signature light and sound show of the Gardens by the Bay, recurring each evening and directed by Singapore’s most sought-after music composers, Bang Wenfu, and award-winning lighting designer Adrian Tan. TELL ME MORE

Reserve Now For a seamless experience that balances business with the best Singapore 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.

13

PRIVATE CLIENT DINING CLUB SELECT HOTEL BENEFITS ENJOY EXCLUSIVE PERKS AND PRIVILEGES AT THE WORLD'S FINEST HOTELS VIP HOTEL AMENITY VALUED AT $100 USD DAILY BREAKFAST FOR TWO GUESTS UPGRADE UPON AVAILABILITY EARLY CHECK-IN AND LATE CHECK-OUT UPON AVAILABILITY COMPLIMENTARY WI-FI AND MORE!

UPGRADE EVERY MOMENT OF YOUR STAY

EMAIL YOUR TRAVEL ENQUIRY TO PCD.CLUB@LUXURYLONDONGUY.CO.UK T&C's APPLY

Thank you to all our sponsors

Contact Aon Dillon at sponsors@pcd.club for 2020 opportunities New contacts

New ideas

New business

www.pcd.club

NOTES FROM ABROAD

Notes from Abroad GO PUBLIC, AT YOUR PERIL Posting material on Social Media can be very dangerous and needs to be done with care and consideration.

By J L Romanillos, MA TEP. I read a small item of news this week in the national newspapers that immediately caught my eye. It instantly made me think of Ridley Scott’s extraordinary film, “Blade Runner”, which presents a vision of a dystopian future world full of synthetic humans.

In particular, there is a scene where the hero, Deckhard, played by Harrison Ford, recovers a photograph from the replicant Leon’s apartment. Placing

Articles & Anecdotes // Football

the photo in a digital photo-analysis

& Sports Industry // Tax, Legal &

machine, he is able to change the angle

Banking // Wealth Management //

of the perspective and reveal a key clue

Women in Sport // Image Rights

he was searching for. Stuff of the future, you may say. Well, not exactly. For the

“GO PUBLIC, AT YOUR PERIL” is

article I had just read involved a similar

number 2 in a series of 12 articles to

story...about a young Japanese pop star,

be published by Consultant, Agent and

Ena Matsuoka, and a selfie she posted

Introducer, José Romanillos, over the

recently on her Social Media account.

coming year. Titled “Notes from Abroad”,

It led directly to her being physically

this series is based on his personal

assaulted...and all because of her eyes.

experiences in the industry of sports and

In a relatively short period of time

entertainment.

16

NOTES FROM ABROAD

Social Media has become a global

is the potential risk that one faces every

phenomenon that has transformed

time we post something. And recent

the way we live our lives and interact

news stories have highlighted this:

with our fellow humans. The positive

Rebekah Vardy & Coleen Rooney,

aspects to Facebook, Instagram, Twitter,

wives of the ex England footballers,

Snapchat and LinkedIn are considerable,

Wayne Rooney and Jamie Vardy, are

allowing us to share information,

currently involved in a Social Media spat

images, messages and stories with an

that has filled the tabloid papers. Coleen,

unlimited number of people across

now labeled as “Wagatha Christie” by

the world. Awesome. The dangers,

some of the papers, has apparently

however, are also starting to become

uncovered the fact that confidential

apparent. Social Media platforms are

posts of hers on her personal accounts

now being blamed for the dramatic

had been disclosed to the Press by her

increase in mental health problems that

so-called social media friend, Rebekah.

our children are now suffering from.

Having her suspicions, Coleen laid a

It is also being blamed, ironically, for

trap, shutting out all her friends from

the feeling of isolation that users are

her account, with the exception of

suffering. Connected to so many people,

Rebekah, and then placing some false

but in fact not really knowing anyone.

stories to see if they would be passed on

And then there is the issue of social

to the press. Which they were. The story

skills - conversation, dialogue, banter.

is still running...

Are these skills dying out too? - now that

a family meal (if there is such a thing any Bernardo Silva, the Manchester City more) may well involve virtual silence

Footballer, was recently in the news for

as everyone (adults and children alike)

mistakenly putting an apparently “racist”

is fixed to their mobiles, responding to

post in the public domain which should

the latest posts and messages on their

have just been kept as friendly...

accounts.

READ FULL ARTICLE

Like many modern things, including the TV, this is an animal (some say “monster”) that needs to be caged and

CONTACT JL ROMANILLOS

controlled. For me, though, perhaps the most worrying aspect of social media 17

DEALING WITH PERFORMANCE ANXIETY

Dealing with Performance Anxiety First you need to hone in on the cause of the sweaty palms and thumping heart and then the context. When are your prone to anxiety? Is it with certain people or events and to what degree? A little anxiety may be good but anxiety and stress are common bedfellows. Being as clear as possible on the specific causes and manifestations of anxiety helps you

In a new column by Executive Coach,

be focused in finding redress.

Mark Evans, we explore a number of areas that professionals find

Whatever skills you develop - visualising

challenging and offer some strategies

positive outcomes, being in the present,

for dealing with these situations.

anticipating difficulties, looking (if not feeling) confident or learning the skills to

My palms are sweaty, my heart is

manage anxiety itself – your ultimate goal

thumping and my mind has gone blank.

is to have a sense of control.

And all because I am about to make a presentation to the Board! Such is

You may never fully rid yourself of

performance anxiety and it can afflict the

performance anxiety but building the

most unlikely of people.

skills to recognise and manage it can keep the demon off your back!

Just recently, an outspoken MP was due to ask her maiden question in the House.

Mark Evans

When her time came, she froze, shook

Website: www.markevanscoaching.uk

her head and remained glued to her seat.

Telephone: +44 7808 821511 Email: mark@markevanscoaching.uk

There are many occasions in our working lives when we feel threatened and fear

Mark Evans is an executive coach

making a fool of ourselves. But if it’s as

providing one to one support to senior

common as it is – and some say as many

executives in financial and professional

as 75% of us are afflicted - how do we

services and owner managed businesses.

overcome the problem.

18

FAMILY BUSINESS EXPERTS WITH REG ATHWAL

Family Business Experts with Reg Athwal (Produced by Reg Athwal TV - The Family Business Channel)

Reg is a Global Family Business

International expansion

Authority and Executive Advisor to

Networking effectively

many Family Owned Businesses (FOB's) Following your passion in the Africa, Middle East & Asia

Connecting people

(AMEA) region. Here he interviews

Subscribe to Reg Athwal TV to view

PCD Founder David Bell, who talks

all future TV shows and episodes.

about building his own family business with his wife and how private dinners

Email reg@rtsgp.com & follow him on

can lead to success.

LinkedIn, Facebook and Instagram via Search: Reg Athwal TV or @regathwal

In this episode the following topic

Company Website: www.rtsgp.com

touch-points are explored: Building relationships

Personal Bio/PDF Download:

Working with your spouse

www.regathwal.com

Setting ground rules Building a start-up family business

To purchase a copy of his best-selling book

Private client dinners

'Unleash Your Family Business DNA'

Gaining customer feedback

please visit Amazon.

19

MEET OUR MEMBERS Chris Eaton Why is your HQ in the Isle of Man? It is a beautiful Island, the only entire nation to be a UNESCO biosphere reserve, and it is an easy place to get to. The Island is a financially attractive place to live and the corporate and trust services sector benefits from 0% corporation tax which reduces the pressure to increase costs to the end user. We have the products private clients need, the skill set and service levels they demand and all delivered at a lower cost than comparable What do you do for ILS World?

Working initially in London and Gibraltar I moved to the Isle of Man in 1991 and founded ILS World. By 1994 we had offices in Dublin and London as well the Isle of Man but felt we were too UK centric so we opened an office in the BVI. In 1999 we decided to open our office in Portugal to give us a route into Europe and this was followed by our Dubai and Hong Kong offices in 2006 so we could truly call ourselves a global provider. I am very proud ILS World has

jurisdictions.

Tell our members a bit more about your business and its relevance within the private client world.

ILS World is an independent adviser to individuals, trustees and family offices acting in their long term interests.

We create and professionally manage bespoke, multi-jurisdictional structures and have expertise in advising on private wealth structures, succession and estate planning, trusts and foundations...

grown and developed into the largest, locally owned and independent Isle of

READ FULL INTERVIEW

Man, international TCSP. 20

MEET OUR MEMBERS Rebecca Bettany whatever is most important to them at that moment. The Private Office team is now global and I focus on families with some sort of link to the UK or Channel Islands.

What do you love most about your role?

I love the variety that this job entails.

No 2 families can ever be the same. I love getting to know our clients and the challenge of putting together a fresh set of solutions for each of them as well as being proactive and anticipating future needs before they arise.

What is your role at JTC Private Office?

I set up JTC Private Office 2 years ago

Why did you join PCD?

and put together the proposition. It

I worked with David Bell at Lombard

exists to meet the desire for clients today

Odier and have long known that he is

to family offices to professionalise and

the best networker on the planet – it is

formalise their affairs in recognition

great to have the opportunity to be part

of increased transparency, regulation

of that.

and greater wealth levels. We allow

At which PCD event will members see

families to demonstrate the same levels

you next?

of corporate governance as their listed

I will be attending events in Jersey and

counterparts. On a more personal level,

London, however my JTC colleagues

we provide a single point of contact to

will be attending almost all of the 2020

each client which frees up their time

PCD events...

so they can focus on running their business, their philanthropic pursuits

READ FULL INTERVIEW

or taking their kids to the cinema – 21

THOUGHT LEADERSHIP

Thought Leadership KHT Scoops Aircraft & Yacht Award for Fourth Year Running

READ ARTICLE

Mental Health Outside the Workplace

By Nick Kelly, Director at Peregrine

READ ARTICLE

What Past Crashes Tell Us About Market Timing

By Andrew Prosser, Investment Manager

READ ARTICLE

Prime or corporate member?

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

22

THOUGHT LEADERSHIP

Thought Leadership Could the UK be at the start of a mini-boom?

By Duncan MacInnes, Investment Director at Ruffer

READ ARTICLE

Mark Field joins the Capital International Group

READ ARTICLE

Prime or corporate member?

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

23

2019 IN REVIEW 6 new

Launched in

locations Held

21

Our Guests Quotes

From

“Enness have sponsored a number of the PCD events over the past few years and it has been a fantastic way to build brand awareness amongst the private client world in targeted locations.”

Hugh Wade-Jones, Managing Director at Enness

dinner events

10

+

Hosted panel events and receptions Entertained

3000 200 Welcomed

guests

new companies to our global network

"China Now"

Hosted course for professionals learning more about the private wealth opportunities in China

Launched regional

Wealth Management Series in London on Russia, China & Middle East

“Working with PCD has been a breath of fresh air – the events and helpful organisation always create a great networking opportunity and atmosphere. Highly recommended.”

John Bateson, Director at Döhle Corporate and Trust Services “Life and business is built on relationships and friendships; relationships like friendships cannot be rushed and take time to grow and develop. What we have experienced over the last 3 years sponsoring multiple events through PCD is that we have developed both business relationships and personal friendships. Today we see that these have led, naturally, to enquiries which have led to leads which in 2019 and 2020 have turned into revenue, and we look forward to continuing our support of PCD and to building more friendships and more business relationships.”

Michael Burke, Managing Partner at EER Corporate Services

www.pcd.club

2020 dinner Dates

19 FEBRUARY

Mumbai

27 FEBRUARY

Singapore

19 MARCH

Manchester

26 MARCH

London

12 May

22 October

20 May

5 November

28 MAY

12 November

10 June

19 November

17 JUNE

26 NOVEMBER

New York Guernsey Hong Kong Geneva Nairobi

2 JUly

London

30 September

Zurich

14 October

Isle of Man

Miami

Shanghai Dubai

Jersey

London

3 December

Cape Town