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