ISSUE 28
MEET OUR MEMBERS
NEXTGEN PROFILE
JESSICA BEERE
ENTACTEH FRAL ES RE
REPLAY>>>>
THE PRIVATEER
HEAR FROM OUR MEMBERS Pathways to Exit: the challenges of scaling up for success
Private Wealth Disputes in the Middle East Global Mobility Series: US Direct Investment into the US
EDITOR’S INTRO
Fast Forward and Replay. WHAT A DIFFERENCE A MONTH MAKES. OPTIMISM IS IN THE AIR AND EVERYONE I SPEAK TO SEEMS TO WANT TO PRESS FAST FORWARD. FOR SOME IT’S ALL ABOUT FOREIGN HOLIDAYS, BUT FOR MANY OF US IT’S THE SIMPLE THINGS IN LIFE THAT WE’RE MOST LOOKING FORWARD TO – MEETING CLIENTS AND FRIENDS, SWAPPING STORIES AND ENJOYING SOME NEW SIGHTS AND SOUNDS.
aviation and marketing and sales tips for a post-pandemic age – there’s plenty to dip into in our back catalogue and some brand new releases featured in this edition.
Reading the latest from the Privateer, it’s clear that less of life has been on hold than we first suspected. From new Chinese billionaires to London’s position as top global city for prime property – so much has kept moving. And here at PCD we’ve kept the pace up with plans for future live events and continuing to build our digital As life gets that little bit busier, the capabilities. PCD team wants to make sure you don’t miss out. That’s why, each Remaining flexible is month, we’re going to focus on giving going to be the key for you opportunities to replay some of us all. I was reminded the great content our members are of this reading Jessica JESSICA BEERE creating. Investment opportunities Beere’s Next Gen in a post-Trump US… Navigating profile. Here’s someone who has kept private wealth disputes in the Middle an open mind to her career and been East… Global mobility… The reality ready to adapt to new experiences and of investing in French real estate… opportunities. Inspirational for us all. Plotting a pathway for entrepreneurs to exit their businesses… Look for the Stay flexible and look ‘REPLAY’ logo in this edition for some forward! great suggestions. There’s also a chance to Replay some of the highlights of our Hot Seat series. From ESG trends to the future of private 3
UPCOMING EVENTS
Tuesday 11 May 2021
BOOK NOW
Power Hour: How to think like a marketer on LinkedIn & Digital Media
Wednesday 12 May 2021
BOOK NOW
UK & EU Series: UK-Spain Cross Border Wealth Planning
Wednesday 19 May 2021
BOOK NOW
UK & EU Series: Moving to France
View all events 4
REPL AY
REPLAY>>>> Pathways to Exit: the challenges of scaling up for success
In this latest webinar sponsored by Waverton, our panelists discuss the challenges confronted by early stage companies looking for a clear path towards a medium to long-term exit strategy.
Harry Cotton Waverton
Charles Macfayden Waverton
How might a new entity use R&D tax relief to help their cashflow? What are the tax benefits of EIS and SEIS to raise capital? Exactly how do EMI schemes help incentivise the business’ key management team? Join our industry experts to uncover the top considerations for new company founders experiencing growth and success to ensure they remain on the right track to realise their goals and ambitions.
Ben Handley BDO
Adrian Faure Bosham Capital Advisors
REPLAY HERE Andrew Clarke Charles Russell Speechlys
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channel here
REPL AY
REPLAY>>>> Direct Investment into the US
As the global economy emerges from COVID, there will be opportunities for cash rich investors to pick up high quality assets in the US at discounted valuations.
Matthew Sperry Katten
We examine the latest trends from the Family Office sector and the popularity for direct investment in US versus funds and other pooled vehicles to generate returns on private capital. Our expert panel discusses the considerations for buying residential property and the implications of becoming tax resident in the US. In the corporate space, the panel considered the CFIUS rules that have to be considered by foreign investors, particularly from China.
Brooks Giles Katten
Lincoln S Ellis Northern Trust
REPLAY HERE
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REPL AY
REPLAY>>>> Private Wealth Disputes in the Middle East
As intergenerational wealth planning in the Middle East becomes more sophisticated and international, the possibility of disputes arising in private wealth structures increases.
Jessica Miller Strela Advisory
Exactly how can families protect themselves against fraud? How might families in the Middle East consider the risks arising from family members’ use of social media? This session discusses practical steps that families should consider around managing their reputation online and examines how good governance can help anticipate and manage conflict which might arise between the family and professional advisor, between foreign courts or between settlors and beneficiaries themselves.
Sunita Singh-Dalal Stephenson Harwood
Jenny McKeown Stephenson Harwood
Daniel Channing Crestbridge
REPLAY HERE
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7
REPL AY
REPLAY>>>> Global Mobility Series: US
As the new Biden administration settles into office, there is much for HNW advisors to understand regarding how clients interested in moving to the US can access a variety of options to allow them to reside in the US.
Mohammed Asaria Range Developments
Anastasia Tonello Ulmer & Berne
Which nationalities are likely to experience the most difficulty with a visa? What is the situation within embassies for issuing visas? In this session, our expert panel discusses various immigration options (including Citizenship by Investment programs, the CIB Program in Grenada and both E2 and E5 visas), tax, legal, wealth structuring and investment management considerations for those moving.
Todd Cowan LGT Vestra US
Sean Tevel Holland & Knight
REPLAY HERE
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REPL AY
REPLAY>>>> French Real Estate
Welcome to the opening session of an International Property Series, sponsored by Enness, which will cover a variety of jurisdictions over the next 6 months.
Hugh Wade-Jones Enness
Can you explain how the French mortgage market works post-Brexit? What do you consider the most common misconceptions for foreign investors in arranging finance of a French property? Here, our panelists lead a thoughtprovoking discussion, giving examples of live financing deals as they explore the key tax, legal, wealth structuring and finance considerations for high-nightworth clients investing in French Real Estate.
Liam Wilkinson Enness
Frederic Mege Moores Rowland
Silvia Andriotto JTC
FREE GUIDE
REPLAY HERE
HOW TO BUY AND FINANCE LUXURY PROPERTY IN FRANCE
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channel here
THE PRIVATEER
The Privateer “I’m flat out … 9 months ago we wondered what we would be doing in Corporate Finance but the team has never been so busy” was what I heard from a partner in a law firm this week. When we entered the pandemic, it was a very uncertain time. Perhaps we thought that if we can’t go into the office, the pipeline will dry up?
cities in the billionaire index. Why might that affect advisors in the UK who can’t prospect in the Chinese market? The reason to be interested is that money flows out. That money is used to buy businesses abroad, invest in international real estate, send children to top schools and universities who eventually become the global But guess what, entrepreneurs, wealth citizens of London, Paris or New York. creators, investors don’t stop because they can’t travel and work in an office. INTERESTING STATISTIC They see opportunities and want their professional advisors to get the deal done whether from a spectacular boardroom in the City of London or in their spare bedroom in Godalming. In all the stress and negativity created by COVID, we shouldn’t forget that the world keeps turning and we have to adapt to the new opportunities that present themselves.
30 NEW BILLIONAIRES There was another interesting statistic recently published by Knight Frank, which showed London as the top global city in 2020 for prime residential property sales, values in excess of $10M, In 2020, 30 new billionaires were created outperforming traditional rivals of New in Beijing alone. The Chinese capital York and Hong Kong. Despite all the has now overtaken all other global hurdles and headwinds in the economy,
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THE PRIVATEER
the weakness in sterling, a stamp duty holiday and historically low cost of capital drove investors to transact, even in an uncertain climate because they would say, London will always be there. So, don’t get too down about the future and the pace of opening the economy back up again, do what you can within your control.
HOPE TO SEE YOU SOON UNTIL THEN WE ARE HERE TO HELP
We don’t know when we will be meeting face to face again, but hope it is soon. There is a long road to recovery before corporate buzz in London returns to full strength. With some creativity a lot can be done virtually; we are working with some fantastic clients in the UK, Switzerland, Caribbean and Middle East who are seeing great results from our collaboration. If you want to find out more, we are here to help. Email members@pcd.club
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REPL AY
REPLAY>>>> WATCH NEW HOT SEAT RELEASES HERE
CATHERINE GRUM
ALLAN WILKINSON
NICOLAS ROUX
BLACK BRICK
CHARLES INNESS
MARK GREER
JESSICA MILLER
CAROLINE BENNETT-AKKAYA
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LETTERS TO THE EDITOR
Letters to the Editor A shot in the arm.
Is anyone else pondering how much the UK’s vaccine rollout will influence HNW choices of residency. As a Brit living abroad I’m able to see the sharp contrast between the progress made back home with life here in Europe. In your last edition you mentioned safety and security as a key factor in choice of residency – I’m interested to see if Covid falls into that category too. M. K. Geneva Choice is the enemy of freedom.
The Privateer makes a valid point (PCD Magazine 27) when she talks of the decline of traditional media, pushed aside by sharp-elbowed social media. I’m all for change but I can’t be alone in feeling daunted by the choice overload we’re now presented with. Please keep up the good work PCD and help keep us focused with good recommendations. G. T. Kensington Making the link
Thanks PCD for the great advice from Melanie Goodman during your Power Hour on LinkedIn company pages. The fact that just having all the information in place increased page views by 30% was enough to inspire me to get our page up-to-date. I’m now working on a plan to turn the whole team into brand ambassadors. Quality advice delivered in an accessible way PCD – keep up the good work! G. M. Edinburgh
WIN A BOTTLE OF BUBBLY We’re looking for stories, ideas and opinions with real appeal for our members. To submit a ‘letter’ for publication here, email your content to lucy@pcd.club. Please keep it short (max 200 words) and exclusive. 14
QUIZ
Quiz Cryptic Cartoon: Religious narrative
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NEXT GEN PROFILE: JESSICA BEERE
Next Gen Profile: Jessica Beere colleagues and contacts. I enjoyed studying for the professional exams (not sitting the exams, but I do like keeping my brain engaged and learning new things). I feel that this enjoyment allowed me to progress naturally as I wanted to learn more and do more. I also asked for a short secondment internally to the Corporate Team to help with my ACCA qualification, which enabled me to work with people from other departments giving me more opportunities to meet new people and learn new skills. Some of the internal relationships made during this time are still strong today and have often resulted in cross team referrals and cross collaboration.
What prompted your move to Buzzacott in 2014?
When I graduated from university with a first class degree in Accounting and Finance, I had my mind set on finding an internal accounting role in industry. I did find a short term role within industry and although I liked the company and the people I met, I found that role didn’t fit the way I thought it would.
So I started looking for roles within practice and in particular, tax. I wanted a role that would offer me the opportunity to have direct contact with clients, develop relationships and also What advice would you give to allow me to continue to learn. Buzzacott a young professional looking to offered me that and much more. start a career in tax/accountancy
within the private wealth sector? We notice your Linkedin profile
Whether you are speaking to clients, colleagues or other professionals remember that they are all human – just like you, so relax.
shows you have progressed within the company from Tax Administrator to Tax Manager in the space of just 5 years. What is your key to success?
Saying you will get back to someone isn’t Looking back I do not feel that career a sign of weakness. Actually, most of the progress was my main focus, it felt time clients appreciate the honesty and natural. I enjoyed speaking with clients, much prefer when you come back with
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NEXT GEN PROFILE: JESSICA BEERE
a comprehensive response.
a while everyone started to adapt to the new normal, and clients became more open to the idea of video calling as the lock-down continued. Whilst I will be the first to admit that this will never replace the value of a face to face meeting, I found that it did strengthen the relationship I have with many clients as it reassured them that we are here for them no matter what, in particular for our clients that are more remote.
Both of those snippets of advice were given to me when I first started talking to clients and working in the private client industry. I consider that remembering these two points has definitely contributed to my progression. The last year has been a challenging year for us all; how has lockdown affected building/
With COVID-19 impacting social
maintaining client relationships?
calendars and traditional methods
At the beginning of the pandemic and the first lock-down, regular check in phone calls and emails w e r e m a d e w i t h clients. After
of networking, have you found new ways to get to know your colleagues and develop new business?
Whilst traditional networking has been unavailable, I have found online networking opportunities to be a great replacement. Although online events are a bit more controlled, it did provide me with the opportunity to attend more events that were shorter and more intimate, by which I mean that I could focus on events that were of particular interest from a technical perspective and be able to ask questions or have discussions with particular panel members. I think this is more difficult to do at a physical event with larger numbers in attendance.
Read in full online
Jessica Beere Tax Manager, Buzzacott
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MEEEETT O OU UTR M MEEM MBBEERRSS• •M
Meet our Members: Nicolas Roux best possible advice and high quality service all the way through with one person. The rest of my time is shared between design reviews with my team and coordination of meetings on site.
Before setting up Rive Gauche, I spent fifteen years working for some of the most renowned designers, architects and contractors. It was always my intention to bring all of those skills under one roof to better serve our clients. What do you do for Rive Gauche?
What do you love most about your
I am the Managing Director and Founder of Rive Gauche London and I personally oversee the design and delivery of all client projects from start to finish with the support of my amazing team.
role?
To me, I have a best job ever. I spend my time meeting incredible individuals, leaders in their industry. They put their trust in us to create and deliver their dream property - a place where they will build beautiful memories across generations. We have a very unique position, where they share with us their vision, their ambition and it’s so rewarding for a designer to have the freedom to make those visions become a reality.
I spend a lot of my time advising clients on their project; either for a potential new investment where they need preacquisition advice, or for an existing property they own which needs a full renovation. I take pride in personally managing the client relationship form start to finish. It’s important for them to trust you and to feel that they have the
Read in full click here
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MEEEETT O OU UTR M MEEM MBBEERRSS• •M
Meet our Members: Philip Grindell How has your business adapted in light of COVID-19?
Our business is digitally based so we weren’t too affected from an operation perspective. One of the benefits of the past year has been the opportunities created is people’s willingness to jump onto a Zoom call and meet. We’ve developed strong relationships with some of the UK’s leading private client and reputation Lawyers and leading Security providers. What has been your greatest achievement? Personal or What do you do for Defuse
professional.
Global?
I’ve been very fortunate to have enjoyed a wonderful life full of successes. On a professional level, following to shocking murder of Jo Cox MP I was the person brought in to stop that happening again. I was asked to set up and run a team protecting our MPs. That was a huge privilege as well as a significant challenge. It was a a huge achievement to then stop the next attack with the processes I had introduced.
I’m the founder and run the business. I have responsibility for business development, sales and delivering parts of the expertise we offer. What do you love most about your role?
I started the business to enable me to continue to make a difference following a 35-year career in the Military and Police. That is still what gives me the greatest buzz…helping clients feel safer. Why did you join PCD? One of our markets are Private Families and Executive Offices together... Read in full click here
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MEEEETT O OU UTR M MEEM MBBEERRSS• •M
Meet our Members: Frederic Mege Private Capital Team at Gowling WLG from 2008 to 2017. What do you love most about your role?
Considering the technicity and complexity of tax matters and then delivering options or an outcome that the client is satisfied with. What has been your greatest achievement?
I arrived in Monaco in 2008 with one single client in my portfolio. Over the years I have always worked on building What do you do for Abacus Trust longer term relationships and I am Group/Moores Rowland? delighted that so many of my clientele I am a Tax Director in Monaco and regularly return for further advice and have been with Moores Rowland since assistance. 2018. I am a dual-qualified French and English lawyer with many years of How has your business adapted in experience in advising private clients on light of COVID-19? French tax and other legal issues. I had to work more from home. This gave me the opportunity to find a better I began my career in 2000 with Arthur balance between my family life and my Andersen in Paris and then moved to professional life. London where I worked at BDO Stoy Hayward LLP and Grant Thornton LLP Why did you join PCD? in their private client tax departments. Business development has always... Prior to joining Moores Rowland, I was an Associate and then Partner in the 20
Read in full click here
HEAR FROM OUR MEMBERS
Hear from our Members
Nick Allen new Chief Executive Officer of Rhone Trust and Fiduciary Services SA
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Trusts and Divorce, a Trustee’s Perspective By Hannah Bisson, Director at Trident Trust
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Prime or corporate member? Click here to share your news or to advertise.
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HEAR FROM OUR MEMBERS
Hear from our Members
Oak appoints Chris Sharman as Private Wealth Director
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Knox group of companies expands into UK TCSP services
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Prime or corporate member? Click here to share your news or to advertise.
22
HEAR FROM OUR MEMBERS
Hear from our Members
New Court of Protection Partner for Thomson Snell & Passmore
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Advance healthcare directives under Cayman law By Samantha Conolly, Associate, Ogier in Cayman
Read online
Prime or corporate member? Click here to share your news or to advertise.
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We expect our live events schedule to return PCD Club is the leading global networking platform for the private wealth sector, hosting first-class events at leading venues.
Our goal is to facilitate connections We enable professionals to build long-lasting and mutually beneficial business and professional relationships.
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