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ÂŁ4 issue 73

city of gold 300 years at the centre of the bullion trade

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TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. FOR 2012 AUDEMARS PIGUET CREATES A TRIBUTE TO THE WORLD’S GREATEST FOOTBALL ARTIST AND BRAND AMBASSADOR, LEO MESSI. THIS LIMITEDEDITION PIECE REPRESENTS A NEW GENERATION OF R O YA L O A K , N O W I N 41 M M D I A M E T E R . T H E SIGNATURE OCTAGONAL BEZEL IS HERE FORMED IN MILLED TANTALUM. AS RARE AND PRECIOUS AS PLATINUM BUT WITH A SIGNATURE BLUE HUE, TANTALUM IS DENSE, HEAVY AND EXCEPTIONALLY DIFFICULT TO MILL. WITH CASE IN EITHER STAINLESS STEEL, ROSE GOLD OR PLATINUM, AND STRAP IN CROCODILE, THE 2012 ROYAL OAK “LEO MESSI” REPRESENTS ANOTHER MILESTONE FOR THIS ALREADY ICONIC SPORTS COLLECTION.

ROYAL OAK LEO MESSI IN STAINLESS STEEL TEEL AND TANTALUM. CHRONOGRAPH. RONOGRAPH.

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A WATCH MADE FROM PARTS OF HMS VICTORY?

WE DO NOT ANTICIPATE HUGE SALES IN FRANCE OR SPAIN.

It’s hardly surprising. The Bremont Victory chronograph is an unashamed tribute to the greatest oceangoing vessel in British naval history. The ship that, under the audacious leadership of Admiral Horatio Nelson, vanquished the combined might of the Franco-Spanish fleet at Trafalgar.

The inner barrel of the case is crafted from HMS Victory copper. While the back of the case is inlaid with oak from the ship’s timbers. But although these parts date from the 18th century (the ship was built in 1759), the rest of the watch is very definitely 21st century.

If your name is Marcel or Pedro, you may want to look away now.

The automatic movement features a double retrograde date, second hand and chronograph.

Nelson went into battle outnumbered and outgunned.

And the case is built from 18 carat rose gold and hardened stainless steel.

And yet, led by HMS Victory, the British captured twenty-one French and Spanish ships, destroyed one and lost none.

(Having survived the French and Spanish guns, we wouldn’t want any part of Victory to come to harm now.)

A stunning 22- 0 away win.

As you might expect, the Bremont Victory is only available in a strictly limited edition and demand is likely to be high.

On that October day in 1805, Britannia really did rule the waves. Today, the Bremont Victory chronograph borrows more than just the name of the famous vessel. It incorporates actual material from the original ship. With the kind permission of the National Museum of the Royal Navy we’ve used oak and copper from Victory in the construction of every watch. (In return, proceeds from each sale will go to help the ship’s restoration.)

But look on the bright side. Unlike Nelson, you won’t have to fight off the French and the Spanish.


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This mOnTh’s cOnTribuTOrs

squaremile

roBErt toMEi

Wat c h & JeWellery Special

Editor

Mark Hedley Art dirEctor

Matthew Hasteley dEputy Editor

Jon Hawkins SuB EditorS

Olivia Mordsley, Jason Riley SEnior dESignEr

Lucy Phillips Junior dESignEr

Ali Davidson StAff WritEr

Matthew Huckle EditoriAl ASSiStAnt

Pete Simpson contriButorS

Nick Bayly, Tim Drummond, Ben Gotting, Timothy Green, Robert Kelsey, Jeremy Langmead, Richard Mackney, Simon Marsh, Patrick McCourt, Lizzie Rivera, Matt Roberts, Jancis Robinson, Robin Swithinbank, Robert Tomei, Saul Wordsworth printing

Colourfast Europe

HEAd of MArKEting & pr

Loren Penney MArKEting & EVEntS

Danielle Kent, Charlotte Furness, Victoria Pennell HEAd of digitAl

Mike Gluckman SAlES dirEctor

Lauren Neale SAlES dirEctor

Michael Berrett HEAd of drinKS & VEnuES

Alex Watson print AdVErtiSing

O

ver The lasT three years, I’ve witnessed some remarkable

sights at the square mile Masked Ball. A world-class opera soprano bringing a ballroom full of bankers to tears. Dancers from the Royal Ballet doing things with legs that shouldn’t be possible (or legal). Boris Johnson holding hands with two flamboyant women on giant stilts. Patrick Kielty simultaneously ridiculing and flirting with a research analyst from Deutsche Bank. Dynamo showing his magic bottle to model Olivia Inge. And, most importantly, more than £250,000 raised for good causes. (Charity, that is. Not the bar bill.) Our annual black-tie affair – this year to be held on Thursday 15 November – officially kicks off the City party season. And this year, it’s going to be a big one. Held in the historic grand hall at One Mayfair, there will be drinks aplenty, including a special bar run by Chivas Regal. We’ve changed it up a gear this year, too, so rather than a stuffy sit-down affair, it’s a ball in its purist form – with dancing and entertainment taking centre stage. There’s a diverse range of entertainment all night, from Jaz Ellington (the big guy who made Will.I.Am blub on The Voice) to Spelbound (the winners of Britain’s Got Talent in 2010). We’re supporting Rays of Sunshine Children’s Charity with a silent auction of lots so enticing they should pry open even the crustiest of wallets. DJ Oliver Twist will be taking the evening to the next level for those who don’t have to get up early or just don’t plan on going to bed. So, brush off your black tie, polish your dancing shoes, and sign up for this year’s Ball at squaremile.com/maskedball2012. From £49 per ticket, even the most recession-battered expense account should be able to take the strain…

Jack Bennett, Will Preston, Sophie Spencer, Will Taylor AccountS

Chairman and CEO of Advanced Capital Group, Robert Tomei is responsible for group investments in venture capital, private equity, secondary and debt strategy partnerships. He previously worked on alternative investments and private placements at Merrill Lynch.

roBErt KElSEy Originally a financial journalist, Kesley went to the dark side and became a banker. Since the crisis, he’s shifted his career again to set up a specialist financial PR company, called Moorgate Communications, and is also the author of several self-help books.

SiMon MArSH Simon Marsh joined Killik & Co in 1989, the year the firm was founded, having previously been a private client executive at Gerrard Vivian Gray. He has played a major role in the growth of the company’s branch network and continues to look after its development.

tiMotHy grEEn Timothy Green has been writing about gold for more than 40 years. His first book, The World of Gold, came out in 1968. His latest book, The Ages of Gold, covering 6,000 years of its history, is regarded as the most comprehensive record of the metal’s history.

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© Square Up Media Limited 2012. All rights reserved. No part of this magazine may be reproduced without the written permission of the publisher. All information contained in this magazine is, as far as we are aware, correct at the time of going to press. Square Up Media cannot accept responsibility for errors or inaccuracies in such information. If you submit unsolicited material to us, you automatically grant Square Up Media a licence to publish your submission in whole or in part in all editions of the magazine. All material is sent at your own risk and although every care is taken, neither Square Up Media nor its employees, agents or subcontractors shall be held liable resulting for loss or damage. Square Up Media endeavours to respect the intellectual property of the owners of copyrighted material reproduced herein. If you identify yourself as the copyright holder of material we have wrongly attributed, please contact the office.

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On the iPad ACCESS See videos from behind the scenes INTERACT Flick, scroll and fondle: articles with real feeling

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Issue 73

Features

PortFolio

ProPerty

16 . THE ExcHaNGE 20 . aRT wORk 22 . THE aNalyST 24 . SIMON MaRSH 26 . ROBERT TOMEI 28 . EScaPE aRTIST

129 . THE PaD 131 . lUxURy lONDON lIVING

exPosure

end Play 143 . EVENTS 144 . NOTIcE BOaRD 146 . MaSTER claSS

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THE EXCHANGE ArTwork THE ANALYST CoLUMNS ESCApE ArTiST

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Lip service . 20 PhotograPh by Daido Moriyama (michaelhoppengallery.com)


THE cITy IndEx

The exchange

100

Things To do AfTer The CiTy

Words Saul Wordsworth

#47 FIREFIGHTER

career advice, go to squaremile.com.

2 3 4 5

Good news, everyone! It seems there’s hope for the deeply tarnished reputations of bankers yet. In a debate hosted by Intelligence Squared at the Royal Geographical Society the motion that ‘London should love its bankers’ was carried by a considerable margin – 338 votes for, 281 against and four abstentions. Making the case for the motion was a particularly strong team, including Espirito Santo chairman Anthony Fry and former Goldman Sachs MD Jennifer Moses, while the opposition (Booooooooo!) included the Guardian’s Aditya Chakrabortty and former London mayor Ken Livingstone. Even those in favour of the motion, however, admitted that banking reform is necessary, so it wasn’t exactly a case of unconditional love.

▲ city chessBoxing

Surviving on the trading floor requires a combination of mental acuity (no sniggering at the back) and the ability to deal with constant knocks, so clearly its perfect sporting partner is, er, chess boxing. A bizarre hybrid game that combines, fairly obviously, sweaty pugilism and moving small wooden objects around a board, chess boxing came to the Royal Albert Hall in October, and one of the bouts was an all-banker clash. Goldman Sachs’s Sean Mooney took on Bryan Woon of Citibank in a battle of brains and brawn, with Mooney taking the spoils. The campaign to get George Osborne and Sir Mervyn King in the ring starts here…

▲ roger gifford

For the first time in eight years the Lord Mayor of the City of London will be a banker. Alderman Roger Gifford, a City veteran whose career has included a stint at Warburg and 30 years at SEB, will ascend to his new position on 9 November. He’ll no doubt be hoping the City’s class of 2013 behave themselves. Ah well, a man can dream…

▲ goldman showers

Good news if you happen to work for Goldman Sachs. The public’s favourite investment banking pariah has announced a pay-pot of almost £7bn, an average of around £208,000 per head. That’s 15% up on last year’s figure; that Greg Smith chap will be kicking himself for leaving.

▲ Black caBs

In a global survey by Hotels.com, London taxis have been voted the best in the world. Presumably the readers of Hotels.com haven’t stood in the rain for an hour while trying to hail a cab on Cheapside at 1am on a Thursday…

squaremile.com

PhotograPh (Backdraft) by Universal / the Kobal Collection

▽ You’ve climbed the greasy pole to the top and extinguished many a metaphorical fire on the way. But you’re bored and in need of excitement. Clearly it’s time to descend a different kind of pole and put out the real thing. So throw off that pinstripe and sling on those fire-resistant overalls. Please note that jokes about hoses and helmets will follow. Being a fireman, firewoman or firechild is what many of us dream about. If you’re a man, women love you. If you’re a woman, men love you. If you’re a child, you should probably go back to school. But let’s not be hasty; miniature firefighters are very useful at putting out miniature fires, particularly up chimneys and down Hackney. Before you can enlist, you must pass a rigorous medical. Can you see your feet in the shower? Can you see the shower? How many press-ups can you do during Coronation Street? Ensure you get yourself in good shape, if necessary by cutting off the floppy bits. Walking is also good, as is running, sprinting and vigorous masturbation. Take up ciggies. This way you’ll get used to the smoke. Whack the heating up to acclimatise to high temperatures. Also learn to play cards. This is what firefighters do for 42 hours a week so get good. If necessary go on a gin rummy course. If you enter the world of firefighting an inexperienced player you could be a grand down by the first coffee break. I jest. (Of course I do – the editor asked me to.) But fighting fire with water is such an important job. It takes heart, guts and other parts of the body you haven’t even heard of. If you don’t have what it takes I suggest you stay in the City. This is a job for grown-ups. Are you a grown-up? I thought not. I bet you wanted more jokes about hoses and helmets. ■ For more on Saul Wordsworth’s alternative

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▲ Banker love


Portfolio

Contact us with your City Winners & Losers: jon@squaremile.com

You might have read the interview with then Citigroup CEO Vikram Pandit in last month’s stellar issue of square mile. If you didn’t, please do so now. Finished? Good, then we’ll resume. Barely a month after telling us about his role in “one of the most significant transformations in corporate history, and certainly in banking history,” he has quit following a rumoured bust-up with the Citi board. He’s not the first big banking figure to have fallen to the square mile curse – Bob Diamond has been a cover star in recent years and Angela Knight was a monthly columnist before she departed the BBA for more energetic pursuits. So far September’s cover star, Jamie Dimon, appears to be hanging on, but if we were him we’d be worried. Apologies in advance, Mr Dimon…

▼ awa r d s p r a n k s t e r s

While some in the capital may be learning to love their bankers, others remain less than convinced. Step forward the Intruders, a gang of pranksters who have taken to gatecrashing “the parties of the wealthy elite that caused the global financial crisis.” One such party was the annual Investment Banking Awards at the Sheraton Hotel in Mayfair, where the Intruders took to the stage to present an award for ‘innovation in interest rate manipulation’ before being marched off. Funnily enough, no one from Barclays emerged from their table to accept the prize of a bottle of Bollinger. They’ve probably got enough at home already.

▼ i n n o c e n t m a s s a g e pa r l o u r

Innocent drinks co-founder Adam Balon has angered his Notting Hill neighbours with plans to build a vast basement with a swimming pool, cinema, wine cellar, staff flat and a yoga and massage room. “The whole area is being turned into a gigantic underground massage parlour,” said one local. He’ll have to be a real smoothie to sort this one out.

▼ thomas ammann

Mizuho investment banker Ammann is on trial for leaking insider information to his two girlfriends, who between them pocketed over £2m. Incredibly, neither woman knew about the other despite both believing they were the German banker’s girlfriend at the time. What kind of Ammann is he?

▼ public sentiment

Just when we thought banker love might be returning, a YouGov/Avaaz poll has revealed that 9 out of 10 people think those responsible for fraud or manipulating financial markets should be jailed. Can we call that tough love?

squaremile.com

1 2 3 4 5

It needs to deliver more to society. It needs to deliver more to shareholders.

▼ v i k r a m pa n d i t

TIm Breedon the former chief executive of Legal & General on the changes that need to occur at Barclays

Want to nominate someone? Work with a legend? Or a turkey?

Cru nCh bunCh Words

for people With money to burn

Lizzie Rivera

#37 jason of beverly hills uzi ring, £7k

▽ Choosing the right accessory is vital for looking the part. Wearing the Jason Uzi Ring to an investor’s meeting, to meet your other half’s parents, or, indeed, in any other polite company might not send quite the right message. But on a hard-arsed-mother, a shady businessman or underground arms dealer – the real bad-guys in any respectable Bruce Willis or Daniel Craig blockbuster? I don’t think it’s too far-fetched to say that this ring could be the making of them. A warm smile, a hard glint in the eyes and a slightly-too-longhandshake with this bad boy adorning your right hand would make any associate thinking of doing the dirty reconsider. Jewellery doesn’t come much more powerful than this 14k gold, 5.26ct black diamond mini-replica of the famous, open-bolt, blowback-operated submachine gun. It’s the weapon of choice for any mercenary operating on the wrong side of the law. But that’s not to discount wearing it for bling’s sake. It would also look good in any hip-hop video and provocatively sexy on RiRi writhing around in the desert. Megan Fox could rock it. But before you shell-out £7,000 on your own digit-borne tribute to one of the world’s best known automatic weapons, it’s probably worth considering whether the ring fits your ‘look’. If your look happens to be ‘credit officer in a large investment bank, who commutes to and from Hertfordshire every day’, it’s probably best to steer clear. Remember: guns aren’t big or clever, kids, and nor is wearing them as jewellery. ■ jasonofbh.com

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Portfolio

The exchange

MB&F legacy Machine 1, £69,000

Have you ever stopped to wonder what you might be doing had you been born 100 years earlier? Nope, us neither, but one man who’s contemplated just that is MB&F boss Max Büsser, whose remarkable Legacy Machine 1 represents a homage to 18th and 19th century watchmaking. Büsser, along with a couple of his watchmaking friends (the ‘F’ in MB&F), decided to create the sort of watch he might have made had he been born in 1867 rather than in 1967, and had been working when the first wristwatches emerged. Denying himself the reference points he’d used to create previous ‘horological machines’ – which included Star Wars, jet fighters and manga robots – Büsser sought

influence from elsewhere. “I do have pocket watches, the Eiffel Tower and Jules Verne, so what might my 1911 machine look like? It has to be round and it has to be threedimensional,” he explains. The end result – developed for MB&F by visionary watchmakers Chronode – is undeniably beautiful and unmistakably an MB&F, with its ‘floating’ central balance, completely independent dual time-zones and three-dimensional power-reserve indicator. “The past is a foreign country: they do things differently there,” goes the famous first line in LP Hartley’s The Go-Between. On the basis of the LM1, we wouldn’t mind a visit. ■ For info: mbandf.com. For more pictures, download the square mile App from iTunes.

Words

Jon Hawkins

Banking ain’T whaT iT used To Be… Words Matthew Huckle

#22 Raj RajaRaTnaM

▽ As well As wielding a great name, Raj Rajaratnam was once a shooting star of the hedge fund industry. His fund, the Galleon Group, managed around $7bn of investors’ money at the height of its power and he’d got where he was under his own steam. In 2009, he had become the richest Sri Lankan in the world, which, among other things, has got to be a great chat-up line. Unfortunately for Rajaratnam he isn’t included in this column because of his glowing record with the ladies. He’s here because he got snapped-up on insider trading charges. “Is that it? A bit insider trading?” I hear you cry. Compared with multi-billion dollar Ponzi schemes this seems a little tame, right? But it’s not so much his crimes that are interesting, it’s the punishment he received for them. Before Rajaratnam, a defendant in a large insider trading case wouldn’t be looking at more than a two-year prison sentence. Rajaratnam received 11, the longest ever handed out for such a charge, along with criminal and civil penalties totalling $150m. What a legacy. He’s not all bad, though. He rejected any offers for reduced sentences if he’d rat his friends out. And he apparently has a sense of humour: one April Fools’ Day he is said to have brought a dwarf to work to cover ‘smallcap stocks’. OK, we didn’t say it was a good sense of humour, but you take what you See more Rogue Traders on squaremile.com can get, right? ■

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PhotograPh (raj) by KeystoneUSa-ZUMa / rex Features

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Portfolio

➤ Asahi Artwork ➤

In a tIght spot — By Daido Moriyama —

See more ShotS on our ipad app

Caught in the aCt

There’s something predatory about Daido Moriyama’s photography. Famed for his raw, gritty gaze, he sees everyday details differently from most. His latest work explores fishnet tights from a whole new angle. Soon to be accompanied by photos of legs, mouths and eyes, this is one of the most subtly erotic collections of photography that we’ve seen in a while. And the best part? Having artistic licence to stare at the photos for as long as you like as you try to work out exactly what they are. We’ll be honest, this particular one has us stumped. Send your guess to competition@squaremile. com to be in with a chance to win a mystery prize*. ■

Artwork

Brought to you in assoCiation with

Prints are available from Michael Hoppen Gallery, 3 Jubilee Place, SW3 3TD. *This may or may not be a pair of fishnet tights.

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Portfolio

➤➤ Urwerk This month UR-210 ➤➤

saTelliTe Thing here Dish — — By By Jon Edward Hawkins Lee — —

MinUtE hand the design of the minute indicator cage is inspired by the beak of the Maltese falcon, which also happens to be the affectionate nickname given to the Ur-210 by Urwerk.

analyst

rEvolving satEllitE the Ur-210 uses an evolution of Urwerk’s revolving satellite complication. the time display is retrograde, so once the minute hand reaches 60 minutes on the scale it returns to its starting point with an audible ‘click’.

tUrbinE the Ur-201’s winding rotor converts even the slightest movement into stored energy, and a turbine connected to the rotor provides power to the movement.

EfficiEncy sElEctor Using a dial on the reverse of the case it’s possible to regulate the winding rotor depending on how much energy is being harvested.

Urwerk master watchmaker Felix Baumgartner may not be quite as famous as his space-parachuting Austrian namesake, but in his own sphere he’s no less pioneering. Along with designer Martin Frei, he’s responsible for some of the most innovative watches of recent

022

years. The UR-210 is Urwerk’s latest masterpiece. It uses the company’s ingenious 3D revolving satellite time display, and also has a unique winding efficiency complication. A display on the dial indicates whether the self-winding movement is being wound more than necessary (when

you’re moving about a lot) or is using more energy than it’s able to store (when you’re sat at your desk), and a selector on the case-back allows the wearer to adjust how efficiently the winding rotor harvests energy. Like few watches before, the power really is in your hands… ■ urwerk.com

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Watch with tourbillon escapement, 18K red gold case water-resistant to 30 meters. Sapphire crystal back. CORUM automatic movement with micro-rotor.

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Portfolio

➤ Opinion ➤

EYEBALLING FUTURE EqUITIEs — By Simon Marsh, partner at Killik & Co —

T

here has been a lot for

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undiminished, and this will continue to create changes and opportunities all across the world and in many sectors. Take a look at the energy sector, for instance. It is inconceivable that the current dependence on diminishing hydrocarbons will be tolerated indefinitely. With the public’s appetite for nuclear on the wane following the Fukushima disaster, new solutions will be required. Already, Germany has made significant steps towards embracing the hydrogen economy with the development of a nationwide network of hydrogen filling stations, which will coincide with the launch by the major domestic automobile manufactures of hydrogen-powered vehicles in 2015. Similarly, the mapping of the human genome is likely to take the field of medicine in a new direction, with new therapies coming to the fore that allow for the treatment of what are currently considered to be non-treatable conditions. And In the world of material science, the

use of carbon composite materials, given their lightness, strength and torsional rigidity, is likely to multiply with their use becoming mainstream in the auto and aerospace industries, as well as in many forms of construction. Let’s not forget the net, either. The advent of mobile commerce will in three years, according to the CEO of eBay, have a greater effect on the way we purchase goods and services than we’ve seen in the last ten years. The message is simple. While we need to consider short-term macro events when fashioning investment strategies, it is important not to be consumed by them. As long as the world spins, life will advance. Investors should look beyond the next summit or election, and focus much more on identifying the long-term structural themes that will drive the global economy and the businesses that stand poised to thrive, whatever the economic backdrop. ■ What are you investing in? To share your views in square mile, email editorial@squaremile.com

squaremile.com

IllustratIon by Jamel akib

investors to worry about in the last few years: a fiscal and political crisis in Europe, a dysfunctional US government and impending fiscal cliff, regime change throughout much of the Arab world, a slow march in Iran towards an offensive nuclear capability, and now growing hostility between China and Japan over the Senkaku Islands. This fear and anxiety, along with high-frequency trading, has resulted in wild swings in equity valuations and historically high levels of volatility, often leaving investors feeling as if they’ve ridden a rollercoaster. Despite this, most major equity markets – with the exception of Spain and China – have risen significantly this year. Even the best efforts of Pimco’s co-founder, Bill Gross, to deflate markets by claiming that “the cult of equity is dying” has failed to dampen the rise. So why is this? The fact that disaster in Europe has so far been avoided has undoubtedly helped, but the real reason is more profound. After four years of relentless bad news, the equity market has started to discount all but Armageddon. More significantly, there is a growing realisation that the response of government to the fiscal crisis is to simply print money, and history has shown that equity, unlike cash and government bonds, tends to be a good store of value. If proof were needed, it is worth remembering that in broad terms, the US dollar – the world’s reserve currency – has, over the course of the last 50 years, lost 90% of its purchasing power while the US equity market is 25 times what it was then. Given the trajectory of government policy, I have no doubt that the next 50 years will yield a similar story. Furthermore, mankind’s desire and need to innovate is


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Portfolio

➤ Opinion ➤

BACKING INNOVATION — By Robert J Tomei, chairman of Advanced Capital Group —

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had appeared to admit to constructing questionable deals to offload on to their clients, and the parting shots fired by disillusioned former directors. While the prospect of a focused political campaign, as opposed to generalised public criticism, is not on the immediate horizon, it still makes a great deal of sense to point out private equity’s wider benefits to society, where possible. The industry should be ready to point to its successes in growing companies and creating jobs. This is a

straightforward way to counter attempts by elements of the media to cherry-pick negative stories. In the UK, programmes like Dragon’s Den show that the public is pleased that investment can be crucial to growing companies. It is up to private equity managers to make the argument that reorganising and investing in companies in the middle of their lives is as important as it is at its early stages, and to leave strong, more competitive firms in their wake. We see two elements as key to the future success of private equity as an asset class: renewed focus on identifying and accessing talented managers and attractive opportunities; and through innovative ventures – not through complex financial engineering, which has proven to be a fickle friend of late, but through a willingness to engage with funds which practice a high-added-value service to their companies and can identify pockets of inefficiencies or innovations. The fortuitous association of private equity with Romney’s candidacy to the US presidency has had the unfortunate side-effect of turning the industry into the latest whipping boy of the financial crisis by the opposing camp. The industry can simply take the high road by continuing to provide sustainable returns through sustainable business. Private equity is an effective partner to both public and private interests for the benefit of stakeholders, and has proved to be a precious resource to economies and communities. It may just need a better communicator. ■ join the debate on squaremile.com

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IllustratIon by Jamel akib

t has been an interesting few months for private equity. While the usual bickering on the outlook for returns and fundraising is nothing new, the industry has not been in the spotlight this much since the day that German politician Franz Müntefering called private equity funds “locusts”. By focusing on companies where jobs were lost after Mitt Romney’s former employers Bain Capital bought them out, the Obama campaign has sought to portray private equity as a devourer of jobs and companies, in contrast to the role it can play in providing the capital which companies need to expand and innovate – especially useful in times of economic crisis. Rather than addressing this head on, the Romney campaign has largely sought to skirt around the subject, apparently doubting its own ability to make a concise counter-argument in a manner suited to the campaign trail. With only one side making its case, the private equity industry isn’t getting the even-handed hearing it might have hoped for. There is a feeling among some in the industry that as long as private equity is providing returns to its investors, it is doing all the public relations outreach that it needs. By way of analogy, it’s safe to say that bad public feeling towards some investment banks was of relatively little consequence if the institution was regarded in financial circles as stable, even in the depths of the financial contrast. But the reality is that executives are equally and justifiably as concerned by revelations that former employees


Portfolio

Objectify Don’t minD if i Do…

Christopher Ward C900 harrison single pusher Chronograph, £2,450

With its rare complication and bespoke movement, Christopher Ward’s C900 Single Pusher Chronograph is one of the most significant timepieces to be launched by a British watchmaker this year. And, coming in at less than £2,450, it is remarkable value for money.

What they did after the City...

esCape A rt i s t

0844 875 1515;

christopherward.co.uk

interview by Matt Huckle

#22 Claire Coutinho

▽ I used to work in the Emerging Markets thomas lyte Byron WatCh roll, £195

Beautifully crafted from supple calf leather in an array of handsome colours, Thomas Lyte’s watch rolls are spot-on for style-savvy travellers. The rolls have room for at least five timepieces – one for every day of the working week. thomaslyte.com

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Equities division for Merrill Lynch. I was there for about three years, but had always wanted to try my hand at something that was a bit more creative, that I had more direction in. My business partner and I are incredibly crazy about food and books, and we thought that a marriage of the two would be ideal. So we came up with the Novel Diner – a pop-up restaurant that brings to life famous novels through food, performance and setting. At each event, we immerse diners in the world of a different book. Some people even dress up! It’s certainly different to being on a trading floor, which was a bit of a zoo. If you ever came in late, you’d have an audience of about 200 people who’d clap you on to the floor. The company has grown very quickly: our first event had 30 people, and six months later we’ve got 120. We’ve been mentioned in The Wall Street Journal and The Daily Express, which really validates the whole thing. Our takes on The Great Gatsby and American Psycho have been particularly exciting and, looking forward, we could have a lot of fun with Fifty Shades of Grey… ■ For more information on the Novel Diner and for upcoming events visit noveldiner.tumblr.com

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Portfolio

Objectify Don’t minD if i Do…

Time for Three words: Lizzie Rivera

Trio of pLaTinum paTeks on saLe

christies.com; patek.com

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Benjamin shine Box Lounger

benjaminshine.com

ermenegiLdo Zegna Ties around The WorLd, £155

This unique, limited-edition collection of luxury silk ties pay tribute to 13 of the most celebrated cities worldwide – among them London, Beijing, Shanghai, Hong Kong and Las Vegas. Casino banking, anyone?

zegna.com

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PhOtOgraPh (ties) by David harrison

▽ Three rare plaTinum Patek Philippe timepieces are to headline Christie’s Geneva auction of important watches, taking place on 12 November, one of which is owned by guitarist Eric Clapton. The Perpetual Calendar Chronograph [pictured] is expected to fetch upwards of £2.6m – a quarter of the total estimated to be raised from all 310 lots. Only 349 reference 2499 watches were made over a 35-year period, and this is just one of two that’s cased in platinum – the other is safely housed in the Patek Philippe Museum in Geneva. Second of the three is the JB Champion Platinum Observatory Chronometer, made in 1952 for the legendary postwar collector and featuring a dial emblazoned with his name. It’s also fitted with an Observatory movement, originally built to compete in the prestigious Geneva Observatory Precision Contest. The last of the pieces is a chronograph form the 1940s, reference 1579, unusual not only for its large diameter and facetted ‘spider’ lugs, but also for being one of only three platinum models known to be in existence. Also on sale will be a private collection of enamelled Patek Philippes, made for the Chinese market and previously unrecorded and unpublished in literature. ■

Traditional telephone boxes may have been overtaken by mobile phones, but artist Benjamin Shine has plucked them out of obscurity by transforming them into comfy leather sofas. His BT ArtBox loungers are available in a limited-edition series of three colours, each with a ‘Telephone’ sign that lights up. This is great thinking inside the box.


ASTRON. The search for totally precise time, everywhere on the planet, is over. By developing a low-energy-consumption GPS receiver, Seiko has been able to create a watch that connects to the GPS network and uses it to identify both time of day and time zone. The new Astron recognises all 39 time zones on earth, is precise to one second every 100,000 years,and by taking all the energy it needs from light, never needs a battery change. If you can see the sky, you will know the local time, anywhere on our planet. Finally, time and space are united in a prestige watch. seiko-astron.com


ExposurE

watch special . 034 style & fashion . 046 health & fitness . 056

home and dry . 50 COAT: Yves Saint Laurent double-breasted wool-twill overcoat, ÂŁ1,080, mrporter.com | Photograph by David Harrison


ExposurE

PRIMe TIMe

watches prime time

RHAPSODY IN BLUE Robin Swithinbank on the latest offering from German

watchmaker Nomos Glashütte – both efficient and attractive

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The watchmaking industry loves a good book. Brands take little issue with turning large chunks of the rainforest into lengthy tomes devoted to themselves – some are dull and self-serving, others are beautifully crafted and look good on a bookshelf gathering luxury dust. My own shelves are full of the things. I love print, I love watches and I’m really not very good at throwing things away. One of my favourites is a 300-page hardback that’s a little smaller than an iPad. It has an absurdly lurid orange cover, and its coverlines are printed in a blue that contrasts with the orange in such a way it makes you believe that your brain is haemorrhaging. If you can look at it without bleeding to death, you’ll see that it reads: The Great Universal Encyclopaedia in Colour and with an Impressive Map Section. Inside, it’s full of wit and charm, some of which relates to timepieces made by the company that produced it, Nomos Glashütte. The German watch brand (Germans can be witty and charming. Get over it) landed on these shores not much longer than 12 months ago. And ‘watchionistas’ have taken it to heart already. And here’s why. Nomos Glashütte (Glashütte is the town where the company was founded) makes beautiful watches with in-house movements and sells them from as little as £910. And no – that’s not a misprint. No other watch brand that makes its own movements can touch Nomos Glashütte on price. Not one. Value aside, the watches also measure up aesthetically and mechanically. Consider, for instance, the new Zürich blaugold. The design is simple and pure, and I’m completely sold on the sunburst finish of the galvanised blue-gold dial that gives the timepiece its name. It has a slightly hypnotic quality to it – like the Demon Headmaster, but nice. Flip it over and through the sapphirecrystal casing you’ll see the brand’s Epsilon automatic movement, which is kitted out with Incabloc shock protection, stop seconds and rhodium-plated surfaces. Simply bluetiful (sorry). ■ Nomos Glashütte Zürich blaugold, £2,760;

nomos-glashuette.com see more watches on squaremile.com

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©2012 Harry Winston, Inc.

HARRY WINSTON THE PREMIER COLLECTION™

TM

171 NEW BOND STREET LONDON W1S 4RD 0207 907 8800 FINE JEWELLERY ROOM HARRODS LONDON SW1X 7XL 0207 907 8899


LONDON : 164, NEW BOND STREET | HARRODS | SELFRIDGES 0 20 7514 9170 | www.boucheron.com *In 1893, Frédéric Boucheron is the first of the great contemporary jewellers to open a Boutique on the Place Vendôme


ExposurE

Watches Icons

The BeaT Goes on

In the transient and ever-changing world of watchmaking, few models manage to span generations. Jon Hawkins selects four iconic timepieces that have broken the mould and stood the test of time Patek PhiliPPe Nautilus “They work as well with a wet suit as they do with a dinner suit,” proclaimed an early advert for Patek Philippe’s iconic Nautilus. The statement rings true now, just as it did in the mid-1970s, when the Swiss watch house launched its trailblazing watch into a market far less familiar with the concept of a watch that was at once sporty, practical, luxurious and, yes, reassuringly expensive. Nicknamed the ‘Jumbo’, the watch was conspicuously big, too. With its 42mm stainless-steel monocoque case (good for submersion up to an impressive 120m – far deeper than most recreational divers will ever go) and supple yet tough metal bracelet, the Nautilus was as functional as it was handsome. And it still is. Almost 40 years after it was first launched at the 1976 Basel Watch Fair, the Nautilus is an enduring, evolving cult icon and one of the most important watches in Patek Philippe’s undeniably spectacular portfolio. In the current Nautilus collection you’ll find watches in steel and gold, on leather and metal straps, diamond-set and classically minimalist, with or without complications. Such is the breadth of its appeal that you can have one modern design almost entirely faithful to the simple, stainless-steel original, all the way to a model in white gold, set with 1,675 diamonds totalling 8.68 carats, which even the most dedicated Patek-wearing submariner would be afraid to take diving. The Nautilus, clearly then, has transcended its 1970s roots. But in the beginning it was, even the brand’s former president Philippe Stern (now honorary president) concedes, a slow burn – uptake of the Nautilus in the early years was “moderate”, according to Stern, though the watch really began to take off in the early 1980s. And though the larger ‘Jumbo’ was dropped in 1990 as the popularity of smaller Nautilus models grew, it made a triumphant return in 1998. For an indication of its significance to Patek Philippe, it’s worth considering that it’s the favourite watch of the company’s current president, Thierry Stern, who took over from his father Philippe in 2009. Given a Nautilus for his 20th birthday, he says: “Even though I have since added to my collection of Patek

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see more PIctUres on oUr iPad aPP

Philippes, the Nautilus remains the watch that I have worn most.” The enduring popularity of one of watchmaking’s genuine classics suggests he’s far from alone. patek.com

audemars Piguet royal oak So congested is the market for luxury sports watches today that it’s hard to imagine a time when the idea of putting a work of Swiss horological art inside a rugged, sporty body was in any way revolutionary.

But when Audemars Piguet launched its iconic Royal Oak in 1972, it was taking a giant leap into the unknown. This, after all, was a luxury watch made from stainless steel, with an integrated strap, and an unusual octagonal ‘porthole’ bezel with visible screws, at the price of a gold watch. These days the Royal Oak has swapped its precocious upstart tag for a role as one of watchmaking’s enduring icons, with a lasting influence on watch design that you can still easily spot in any dealer’s window 40 years ➤

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ExposurE

➤ after it was launched. To mark the occasion, Audemars Piguet is releasing a number of tributes to the legendary watch, including the OpenWorked Extra-Thin Royal Oak [pictured below]. Like the original, it uses an ultra-thin movement just over 3mm thick inside a 39mm case, though stainless steel makes way for platinum and the dial – as the name suggests – is open to allow a peek at the internals. The caseback is open, too, revealing the inscribed, 22-carat gold monobloc oscillating weight. The watch is being produced in a limited edition of 40 (naturally), and Audemars Piguet is unlikely to be short of takers for this sensitive and elegant homage to one of horology’s genuine game-changers. audemarspiguet.com

JAEGER-L e COULTRE REVERSO It’s impossible to doubt the iconic credentials of Jaeger-LeCoultre’s Reverso. Not only is its rectangular, flippable form one of the

TIME MACHINES: (clockwise from this photo) JaegerLeCoultre Grande Reverso Ultra Thin; Audemars Piguet OpenWorked Extra-Thin Royal Oak; Patek Philippe Nautilus 5712R in rose gold; Rolex Submariner Oyster Perpetual

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most recognisable in the horological world, but it’s one of the most enduring; the watch celebrated its 80th anniversary last year. Those 81 years haven’t been an entirely smooth ride for the watch with the reversible case. Originally conceived to stand up to the rigours of a game of polo, the Reverso quickly won friends ranging from royalty (Edward VIII wore one) to adventurers (as did pilot Amelia Earhart), thanks in no small part to the ability to personalise the ‘hidden’, blank face on the reverse with an inscription or design. But the watch disappeared off the radar in the post-war years, before demand from collectors inspired Jaeger-LeCoultre to reintroduce the watch in the 1980s. The brand, and the Reverso, has never looked back. Today’s collection contains a broad spectrum of interpretations of the Reverso, from faithful homages to early watches, like the Grande Reverso Ultra Thin Tribute to 1931, to the larger, more angular and unashamedly

Audemars Piguet is unlikely to be short of takers for this elegant homage to one of horology’s real game-changers modern Squadra models. The Reverso’s slim profile and elegant rectangular case has always made it popular with women, too, and a sizeable proportion of the current collection caters to female tastes. And, of course, Jaeger-LeCoultre still offers a personalisation service so you can create a Reverso different to any others in the world. The brand even released an Ultra Thin Tribute to 1931 Batman edition to coincide with the launch of The Dark Knight Rises earlier this year; perfect, if you happen to be a poloplaying caped crusader.

jaeger-lecoultre.com

ROLEX SUBMARINER If imitation is the sincerest form of flattery, the Rolex Submariner has spent much of its 59-year existence having its ego-massaged by countless pretenders. But the Sub remains the original, still going strong more than half a century after it became the first watch waterproof to a depth of 100m. Along with the Explorer, also launched in 1953, the Submariner spearheaded Rolex’s line of ‘professional watches’, designed to be highly functional, highly accurate and more durable than anything else on the market. It remains so today, in subtly evolved but instantly recognisable form (the 2012 model gets a black ceramic bezel insert, a slightly tweaked case and an updated clasp), and the intervening years have cemented the Submariner’s role as the archetypal tool watch for divers and land-lubbers alike. Of course, it hasn’t hurt that the watch has being immortalised on the wrists of icons like Steve McQueen (whose Reference 5512 Submariner sold at auction in 2009 for a staggering $234,000) and a certain fictional British spy, who wore a Submariner in several films including Dr No, Goldfinger and The Man with the Golden Gun. But with or without the patronage of Messrs Bond and McQueen, the Submariner is the consummate man’s watch – not because it’s macho, but because it looks just as good on the wrist of a City banker as it does a grizzled rock’n’roller. rolex.com ■

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Diamond Gold Leaf Watch from the Buccellati Unique Collection

33 Albemarle Street - Mayfair, London WIS 4BP - Tel. 020 7629 5616 Milano, Venezia, Firenze, Cala di Volpe, Capri, Paris, London, Montecarlo, Moscow, New York, Beverly Hills, Aspen, Chicago, Tokyo, Osaka, Nagoya, Hong Kong, Sydney, WWW.BUCCELLATI.COM


Watches salonqp

watch and learn For three days only, the finest watchmakers from around the world will gather together in London, giving you the opportunity to get up close to the world’s most exclusive timepieces

Sky watch: (main picture) MB&F will show the new hM3 Moonmachine, designed in collaboration with Finnish watchmaker Stepan Sarpaneva, at SalonQP; (above right) christophe claret’s Soprano

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Exposure

The best of times Chat with the experts

T

he fourth edition of the UK’s fine watch show, SalonQP, will take place at the Saatchi Gallery on 8-10 November, offering the chance to get up close and personal with some of the world’s most complicated watches and to meet the faces behind the brands. SalonQP will showcase the very best the world of luxury watches has to offer, with traditional maisons such as JaegerLeCoultre, Vacheron Constantin and Piaget exhibiting some of the finest examples of contemporary watchmaking, as well as a host of UK and world exclusives being presented by the likes of TAG Heuer, Urwerk, Bulgari and MB&F. And building on the success of last year’s Independents’ Gallery, this year’s version will be bigger and brighter, featuring

It’s all very well reading about watches but seeing them ‘in the metal’ creates a deeper, longer-lasting connection squaremile.com

work from the likes of De Bethune, SpeakeMarin, Christophe Claret and Robert Loomes. Explaining why the show was established, SalonQP founder, James Gurney, says: “My experience of other consumer events had convinced me that the key to success was to allow exhibitors to engage with visitors away from the pressures of a retail environment. SalonQP has to offer something beyond a visit to a boutique or a department store. It is all very well reading about watches, but seeing them ‘in the metal’ and talking directly to the people behind them creates a longer-lasting and altogether deeper connection. We make sure that we have not only an exceptional array of brands and watches on show, but also one-off experiences on offer.” Proudly opening its doors on Thursday 8 November with a VIP reception, the exhibition continues throughout Friday 9 and Saturday 10, including the Legend of Kremlin Vodka Cocktail Reception on the Friday evening. ■

The 2012 event, as in previous years, will include a programme of demonstrations and discussions from industry leaders, including roundtable talks with Maria Doulton of The Jewellery Editor, who will be hosting two sessions highlighting women’s watches. Other highlights of the three-day event will include: ++ An exclusive preview screening of The Watchmaker’s Apprentice, a film about the late Dr George Daniels CBE MBE – one of the greatest watchmakers of the past 200 years – and his only apprentice, Roger W Smith. Special tickets have just been released to view the film on the afternoon of Friday 9 November, featuring an exclusive introduction by Roger Smith. ++ Jaeger-LeCoultre’s Sphérotourbillon. Widely considered the best in show at SIHH, this watch is part of the brand’s Duomètre line, it employs a ‘dualwing’ design using two separate power sources – one for timekeeping and one for regulation/complications. ++ TAG Heuer’s MikrotourbillonS. Seen for the first time in the UK, this timepiece features the world’s fastest ever tourbillon and will be presented at SalonQP. ++ Urwerk’s UR-210. In another exclusive, SalonQP will present the first opportunity for fans of Urwerk to experience its jawdropping new watch. ++ Stepan Sarpeneva and MB&F’s HM3 Moonmachine. This collaboration between creative powerhouse MB&F and Finnish watchmaker Stepan Sarpaneva, has resulted in possibly the coolest HM3 yet.  ++ Harry Winston’s Opus 12. Continuing the Opus tradition of working with only the most extraordinary craftsmen, this piece was designed in collaboration with Emmanuel Bouchet and is a timepiece without an hour or a minute hand. salonqp.com

READER OFFER: SalonQP is offering square mile readers a 20% discount on tickets for The Legend of Kremlin Cocktail Reception and Friday and Saturday day sessions. Tickets can be booked online at

salonqp.com or by calling 020 7428 2916 and quoting the promotional code SM2210.

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E N G I N E E R S O F LUXU RY SA F E S

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stockinger.com Handcrafted in germany


ExposurE

exposure patek philippe

a man of his time How has Patek Philippe managed its unrivalled success in the watchmaking world? By fusing innovation and tradition, explains Mark Hearn. With 24 years in the business, he should know, says Jon Hawkins

P

atek PhiliPPe’s roots can be traced

classicism about them rather than ‘blingbling’. That has obviously played towards Patek Philippe’s strengths, because much of the essence of the brand is traditional values, quality and understatement. That allowed us to continue to develop throughout the crisis.

back 170 years, and in that time the Swiss brand has produced some of the most beautiful, complicated and sought-after watches the world has ever seen. Mark Hearn, Patek Philippe’s UK managing director, joined the family-owned watchmaker in 2000. He tells square mile about balancing the modern and the classical, how he first became interested in watches as a teenager, and what he’s learned in almost a quarter of a century in the watch industry…

✱ On the closing of the knowledge gap

Today’s consumers are far more knowledgeable and they know what they’re looking for. That also applies to women, who have developed their knowledge and appreciation of mechanical watches vastly, particularly in the last five years or so, to the extent that they’ve almost caught up with men. Historically, men have tended to be more interested in what’s going on inside watches than women, but now that gap has closed.

✱ On balancing classical style with innovation

Patek Philippe’s combination of innovation, history, and traditional values has been key to the brand’s success over many years. A lot of people might say being truly traditionalist and very classical in style doesn’t lie very well with being innovative – but that’s very much a strength of the Patek Philippe brand, and it works extremely well.

✱ On the brand’s famous adverts

Patek Philippe’s communication message has been very consistent over many years. Our current advertising campaign started in 1996, and the message – that you never actually own a Patek Philippe, you merely look after it for the next generation – has been consistent throughout that time period, while other ➤

✱ On the resurgence of the mechanical watch

Although there were some mechanical watches around 25 years ago it was really the era of quartz. Everybody was interested in digital technology and modern designs. Today the market has changed dramatically – over the past 20 years appreciation of mechanical watches has developed hugely, and today even consumers looking at watches of two to three hundred pounds are interested in mechanical and automatic watches. Although we’re far more technologically advanced now than we were ten or 20 years ago, today’s trend is for traditional products. Perhaps it’s about feeling secure. We know mechanical technology works, it’s safe and it’s beautiful. ✱ On continuing to rise throughout the crisis

Prior to the financial crisis there was a lot of conspicuous consumption – many people weren’t overly careful about what they were spending their money on, and their priorities were different. The crisis made a lot of people reevaluate their life values, including their spending habits and the types of products they purchase. They now tend towards traditional values, and items that have a timeless

squaremile.com

Our current advertising campaign started in 1996 and has been consistent throughout that time period 043


ExposurE

FACE THE FACTS: (clockwise from this picture) Patek Philippe’s grand complication pieces are some of the most soughtafter in the world; the 5204P has a split-seconds chronograph and perpetual calendar; the ladies’ 7140R is set with 95 diamonds

➤ watch brands have changed direction several times and their message has varied.

I realised that an automatic wristwatch is inextricably linked to its wearer, because it is wound when they move

✱ On the benefits of family ownership

Patek Philippe is a family business. The Stern family [the brand’s owners since 1932] has always been very closely involved with all the key aspects of the business, and that means we can react quicker. If Patek Philippe owners want to get a message to the Stern family, the line of communication is very short, and that means we have a far better understanding of what the owners of our watches actually want. In a share-holding company the chain of communication is, by necessity, that much longer and the priorities are obviously different. We will often make decisions that in the short-term aren’t profitable, but in the long-term are in the best interests of the company and Patek Philippe owners. ✱ On his early love for watches

As a teenager I was always interested in watches. My father bought me my first watch when I was 13 – it was an Omega automatic in a cushion case with a blue, two-tone dial. Unfortunately I lost it when I was at university, which was a great shame because I loved it and have never seen one in any dealer or second-hand shop. It had a glass back, which was very unusual at the time, and I was fascinated by what was going on inside. When

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I realised that an automatic wristwatch is inextricably linked to you, because it is wound when you move, I thought watches might be an interesting industry to work in. A little later on I ended up working in Geneva and got to know a number of people in the watch industry; through that I ended up joining Zenith watches in 1988. I worked in the UK, initially as their national sales manager, becoming managing director after 18 months. I ended up staying with Zenith for 12 years until it was bought by LVMH, at which point I moved to Patek Philippe. ✱ On why watch brands can’t afford to ignore

after-sales service After-sales service forms the foundation of any watch company, and any brand ignores it at its peril. It’s not just about making a sale – the ethos at Patek Philippe is that once someone makes the decision to purchase a watch, that is the start rather than the end of the journey. Something we have understood as a brand is that we will be looking after that individual indefinitely – we guarantee to repair any Patek Philippe watch of any age. The advertising message – that the owner merely looks after the watch for the next generation – is also a commitment from us that we will be there to look after that watch when its original owner is no longer around. ■ For more information, go to patek.com

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HAVE HAVE IT IT YOUR WAY. YOUR WAY.

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Manhattan Jets owns its core fleet of Learjets with more aircraft Manhattan Jets owns its core fleetwe of Learjets with more under management which means are responsible foraircraft every element under management which means we are responsible for every element of the services we offer. No hidden extras, just value for money. of the services we offer. No hidden extras, just value for money. To find out more about Manhattan Jets, our 19 year history and the To find out Manhattan Jets, ourplease 19 year historyus: and the services wemore offer,about or to request a brochure, contact services we offer, or to request a brochure, please contact us: +44 (0)1252375500 +44 (0)1252375500 enquiries@manhattanjetmanagement.com enquiries@manhattanjetmanagement.com www.manhattanjetmanagement.com www.manhattanjetmanagement.com

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ExposurE

The collecTion

Christmas gifts curated by The ROYAL eXChANGe

▶ THE WATCH

+ MONTBLANC Star Classique, £6,500 Of late, classic gold wristwatches have surrendered their traditional place in the front row of jeweller’s display cases. With the Star Classique, Montblanc is doing its best to reverse the trend. A true classique, indeed. Montblanc, 10/11 The Royal Exchange, Cornhill, EC3V 3LL; 020 7929 4200;

montblanc.co.uk

▲ THE CUFFLINKS

+ THEO FENNELL Scorpion art cufflinks, £6,500 These 18-carrat white gold, diamond and black enamel cufflinks are certain to make a statement in the boardroom. They have been hand-carved and engraved at Theo Fennell’s workshop in London. Theo Fennell, The Royal Exchange, 4 The Courtyard, EC3V 3LQ; 020 7623 4380;

theofennell.com

▶ THE RING

▶ THE SHOE

+ CROCKETT & JONES Westbourne £335 Crockett & Jones’s Westbourne shoe in chestnut burnished calf is a classic style for both town and country. A ‘semi-bespoke’ service is also available. Crockett & Jones, 25 The Royal Exchange, EC3V 3LP; 020 7929 2111;

crockettandjones.com

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+ BOODLES Paisley Diamond Ring, £55,000 Boodles is renowned for making some of the most elegant jewellery on Earth. This paisley ring, set with white diamonds in platinum, is no exception. And at this price, it really will be a girl’s best friend – and then some. Boodles, 2–3 The Courtyard, The Royal Exchange, EC3V 3LQ; 020 7283 7284;

For a list of all stores please visit

theroyalexchange.com

boodles.com

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square mile

x m as shopping evening

happY REXmas T u E s d ay 2 7 N o v E m b E R 2 012 , 6 – 9 p m T h E R oya l E X c h a N g E , b a N k , E c 3 v 3 l R

O

n 27 November, The Royal Exchange and square mile are teaming up to host a fabulous evening of sparkling entertainment, glamorous shopping and first-class gastronomy. You are invited to come along to this complimentary evening, where stores both inside and outside of the courtyard will be staying open late. The Royal Exchange is the ideal venue for finding your perfect Christmas presents – and enjoying some festive

drinks along the way. There will also be plenty of canapés and seasonal hot chestnut stalls to help keep you fuelled for the evening. Entertainment will include a festive musical performance by Vaults Quartet. You will also be offered complimentary gift wrapping and be able to meet the square mile team – surely reason enough to make your way down. Plus, there will be a ballot on the evening to win a luxury holiday.

F o r c o m p l i m e n ta r Y e n t r a n c e F o r Yo u a n d a g u e s t, p l e a s e e m a i l lo r e n @ s q u a r e m i l e .c o m


Style the Firm

Casino Royale The boys from CSS Investments have gone all Bond on us, proving that when you want to look like a player, you should always bet on black-tie Styling: HUgO BOSS • lOcatiOn: tHE RitZ clUB

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ExposurE

THE MEN: (from left to right) Jack, Dan, Tom, Brian, Luca, and Alex from CSS Investments THE CLoTHES (from left to right) JACK: Evening jacket, BoSS Selection, £999; Black trouser, BoSS Black, £135; White shirt, BoSS Selection, £179; Bow tie, BoSS Selection, £85; Pocket square, BoSS Selection, £40; Shoes, BoSS Black, £220 DAN: Dinner suit, BoSS Black, £549; White shirt, BoSS Black, £110; Bow tie, BoSS Black, £45 ToM: Suit, HUGo, £549; Shirt, BoSS Black, £125; Tie, BoSS Black, £60 BRIAN: Jacket, BoSS Black, £379; Black trouser, BoSS Black, £145; Shirt, BoSS Black, £110; Bow tie, HUGo, £45; Shoes, BoSS Black £249 LUCA: Suit, BoSS Black, £579; Shirt, BoSS Black, £125; Tie, BoSS Black, £60; Shoes, BoSS Black, £239 ALEX: Dinner suit, BoSS Black, £549; White shirt, BoSS Black, £110; Tie, BoSS Black, £60; Shoes, BoSS Black, £239 Stockist: Hugo Boss 020 7554 5700 If you and your team would like to be featured in one of our photoshoots, email See behind the SceneS on our ipad app

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editorial@ squaremile.com

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Style overcoatS

POSITIVE COVERAGE This season, elevate your overcoat from winter wardrobe staple to spectacular style statement. We’ve scoured the latest designer collections for our favourite picks. It’s a wrap… PhotograPhs by DaviD harrison

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ExposurE

coats to coats: (left to right) Burberry twill trench coat, £795, mrporter.com; Gieves & Hawkes overcoat, £750, gievesandhawkes. com; Viktor & Rolf Monsieur brown wool-mix overcoat, £1,090, harveynichols.com

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style for him

Slick iN THE STickS

You don’t need to own an estate in the Cotswolds and drive a 4x4 to rock a rural-inspired new-country look (although it wouldn’t hurt, of course), says Jeremy Langmead and mrPorter.com

STOCK PICK By Jeremy Langmead Even for the most hardened townies, the countryside needn’t be a sartorial pitfall. With the right kit – and mindset – even entrenched urbanites can make the switch. Brown shoes are always correct in the country, and there are few more versatile shoes than brogue boots. They’re smart enough to complement dressedup tweed and corduroy, but casual enough to go with jeans. Our styling tip is to keep trousers sufficiently short that they don’t break on the boots, which should be kept well polished. A decent walk will ruin a pair of trainers forever, but these will certainly serve you well. grenson Fred textured-leather brogue boots, £215.

mrporter.com

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1 arcHer aDaMS uMbrella, £185 The same logic that makes Britain a go-to nation for waxed jackets ensures that we know a thing or two about umbrellas. This most utilitarian of items has been given a decorative and dandyish spin for the new season.

1

2 Slowear MoNTeDoro uNSTrucTureD woolTweeD blazer, £610 The tweed jacket is autumn’s answer to summer’s softshouldered blazer. Whether you’re tempted by the kind of loud checks seen in the 1970s or a more subdued Donegal pattern, these jackets are a rural default.

2

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3 SNS HerNiNg wafflekNiT carDigaN, £215 It’s always worth packing a thick sweater or cardigan for a weekend in the countryside, and this textured wool cardigan is ideal. Expertly crafted from pure new wool, wear this chunky yet understated piece over anything for instant country-style cosiness.

5 MuSTo flaT cap, £50 Tweed caps are warmer than they look. Musto’s technical stretch tweed provides warmth and comfort with waterresistant and hardwearing properties. Additionally detailed with a full lining and padded top, this is just the ticket.

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4 facoNNable SliMfiT fiNe-corDuroy TrouSerS, £145 This season, cords are one of Mr Porter’s essentials, but beyond the City limits they are essential every season. Simultaneously softer and more durable than jeans, it’s worth packing a daytime pair to walk in and a separate, mud-free pair to wear in the evening. Pile on the texture with a chunky knit and a denim shirt, but make sure that the trousers are slim fit for a more youthful silhouette.

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ExposurE

old MASTER

style valentino

A TOUCH OF CLASS

PhotograPh by Cathleen Naundorf

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Valentino: Master of Couture will run from 29 November 2012 to 3 March 2013. Admission is £12.50.

somersethouse.org.uk

The work of Italian fashion designer Valentino, the perennial film-star favourite, is celebrated at a new exhibition. Loren Penney gets a sneak preview

This November sees the opening of the exhibition that London fashionistas have been waiting for: Valentino: Master of Couture at Somerset House. This glamorous show will focus exclusively on haute couture created by the legendary Valentino Garavani [far left], who is loved by fashion-forward women across the globe including princesses, Hollywood starlets and first ladies: Jackie Kennedy married Aristotle Onassis in a wedding dress from his 1968 White Collection. Featuring exquisite dresses from the couture catwalk and red carpet as well as privately-commissioned designs, the exhibition should provide a rare glimpse behind the doors of Valentino’s remarkable world. ■


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HealtH & FItNeSS coaSt to coaSt

A country for good men The Coast to Coast Race is the most exciting way to see Scotland. Matt Huckle meets two City adventurers who took up the challenge

Y

ou don’t have to look far to find someone in the Square Mile who is competing in a race or endurance challenge. In fact, there are so many different things going on that it’s rare any of them stand out. But our attention was piqued when we heard that two City boys were making their way across Scotland in a two-day, multi-sport event. Marcus Blacker, an antitrust solicitor from Linklaters LLP and John King, vice president for Global and SRI Equity Sales at Bank of America Merrill Lynch, completed this year’s challenge and spoke to us about their experiences along the way. The race takes competitors from Nairn, near Inverness, to Ballachulish, near Fort William. For those not so savvy on Scottish geography, that translates as 105 miles of offroad running, cycling and kayaking across one of the most beautiful landscapes in the UK. It beats doing a couple of laps of Richmond Park.

The race is 105 miles of running, cycling and kayaking across the most beautiful landscapes in Scotland

King explains that he has “done a few half marathons and triathlons including the Alpe D’Huez triathlon,” but what attracted him to this particular event was the more laid-back nature surrounding the race, or to put it more directly, “The beer tent at the halfway stage said enough about the ethos of the event.” “I’m not that bothered about how well I do but it is always nice to finish in the upper quartile,” King says. “No need to go crazy in these events as the transition wasn’t timed, which is a nice change to triathlon. I competed in this one largely to enjoy the event and have an incentive to keep fit. It’s fun to do the training with a bunch of mates if you sign up to these events as a group.” Blacker signed up to the event because he’s always up for getting out of London – away from City life – and having a go at challenges, and, he’s “only been to Scotland a couple of times. I’m a fairly keen runner, having done three marathons in the past three years. But this time we were just doing it for fun, to have an active weekend away and to see some stunning scenery. There were four of us that did it and we all stuck together. The event is organised so you can enter the ‘Racer’ category (completing the course in just one day) or the ‘Challenger’ category (over two days) so it is suitable for any level of fitness. “Rat Race membership offers something called ‘Urban Gym’ which I tried a couple of times to help me train. It’s essentially a mix of running and circuit training using features around the City as exercise stations. It’s a good way to see the City from a new perspective.” The event is produced by Rat Race, and becoming a full member comes with some great added benefits. It encourages goalfocused training and offers weekly fitness classes and all-inclusive entry into a series of events around the country, including this one. You will also get the benefits of kit discounts in the Rat Race online shop. ■ For more information on membership visit

ratrace.com/members.aspx

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See more PICTUreS on oUr iPad aPP

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Edge-to-edge blockbusters.

Edge-to-edge speed.

Edge-to-edge performance.

Say hello to the full-screen phone. Introducing the powerful Motorola RAZR i with Intel Inside . TM

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Games and applications are downloadable in Google Play for an additional cost. MOTOROLA and the Stylized M Logo are trademarks or registered trademarks of Motorola Trademark Holdings, LLC. Intel Inside and the Intel Inside logo are trademarks of Intel Corporation in the U.S. and/or other countries. All other trademarks are property of their respective owners. Š2012 Motorola Mobility LLC. All rights reserved.


ExposurE

health personal trainer

good growth Ben GottinG played rugby at the highest level before becoming a

personal trainer. Here he shares his tips for staying lean and strong

I

t’s a sorry fact to admit, but the truth is

that I’m in better shape now than I was when I played for London Wasps. As a trainer I’m much better educated, and working with clients gives me much greater perspective on what really works when it comes to fitness. In my rugby-playing days, exercise and training were my daily regime. My day would start with a one-hour session of weights in the morning. We’d follow that with some rest and then low-intensity skilled work. After lunch, we’d up the tempo and play for an hour. After that it was ice baths and rest until I returned home to spend time with my PlayStation. With the people that I train – especially the City guys and girls – dedicating this sort of time to exercise is impossible. For most, even finding an hour in the day can be challenging. So here are a few of my quick and easy methods for getting on the right track:

WeIghts not cardIo You will have heard it here before but focus on weight training rather than cardio. As players, our big focus was to be bigger and stronger than everyone else. We physically dominated most teams we played against and the weight training played a big part in that – and it’s something I maintain with my clients, whether they want to tone up or beef up.

stay hydrated A lot of people neglect to drink the amount of water that they should. As a basic rule of thumb, I recommend 0.033 litres of water per kilo of body weight – so if you weigh 100 kilos, you should drink 3.3 litres of water a day.

Increase proteIn Intake When we train, we become catabolic and burn muscle – effectively a protein – so we need to replenish what we’ve lost. A lot of people think we need carbohydrates for energy, but it’s not essential. Eating protein through the day will also produce leptin, a protein hormone which suppresses appetite. Not everyone fancies the idea of munching steak at 11am, but I would urge you to always have some protein immediately after a weight training session, as this is when the body is most catabolic.

Lose the carbs When I was a player, I used to live by the mantra of no carbs after 3pm, but now I don’t really eat any starchy or refined carbs at all. I do, however, get my intake of carbohydrates and roughage from fruit and vegetables.

Ask MAtt RobeRts... fitness advice

When should i start training for a marathon i’m running in the spring? allow about 16 weeks of quality training in order to adapt steadily and reduce the potential for injury. if your marathon is in the spring, start after christmas. it’s a great time to get motivated – sticking to new Year’s resolutions will increase your chance of succeeding. i’ve never run before. What should my marathon training involve? ideally you want to be running three to four times a week. the key is keeping it varied. Get out on a Monday for an enjoyable run. try to do some interval training mid-week to increase your pace. at the weekend, devote yourself to building the distance you can cover. i’d also suggest getting to the gym for some strength-based training – squats, lunges and seated rows help keep muscles strong and resilient to the strain of longer-distance running. What types of food should i be eating when i am training for a marathon? eating good quality fruits and vegetables to provide you with the correct vitamins and minerals is vital. Most runners try to eat more carbohydrates, often getting confused about good choices. try more natural forms of carbs like sweet potatoes, bulgar wheat and quinoa, because they are far easier to digest. Limit the typical carbohydrate choices like pasta and bread. Good quality sources of protein like chicken are important because they help repair damaged tissue to aid recovery. For more information about training for a marathon, visit mattroberts.co.uk and visit the running resource.

mattroberts.co.uk

don’t overdo It

IllustratIon by adam larkum

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At Wasps, we never stayed out on the field any longer than an hour at a time, and today I always try to limit training sessions with clients to 50 minutes. The reason for this is that you get a big rise in cortisol, the stress hormone, as a result of intense exercise, and too much of this will inhibit weight loss.

good number to aim for. And even more important are those hours before midnight. Getting two hours of sleep before midnight will ensure a better quality of sleep, because most people don’t wake up before 5am.

get more sLeep

beat the rest

The importance of recovery cannot be overegged. Key to that is getting enough sleep – I know it’s not always possible, but if you can get between 6–10 hours sleep, that’s a really

Always work harder than the opposition. Whoever, or whatever, that is. ■ Live Lean, London’s leading fat-loss specialist, can be contacted at 078 2369 7605 and liveleanpt.com

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ExposurE

extreme ski jumping

The NighT’s ski

It takes a special person to look at ski jumping and think: ‘Is there any way that I can make this more dangerous?’ Elias Ambühl, who likes doing it in the dark, is that man. By pete SimpSon

lighten up Taking to a ski jump with no idea where or how you’re going to land doesn’t seem like the best of ideas – but that never stopped Eddie ‘The Eagle’ Edwards, and it certainly doesn’t stop Elias Ambühl. The twenty-yearold freeskier took to the slopes in Arosa, Switzerland to create a series of night shots for a Red Bull Extreme session, christened ‘Ambühlievable’ (see what they did there?). It may seem like an Ambühlievably stupid thing to do (see what I did there?), but the spectacular longexposure effect of the LED lights attached to Elias’s skis makes the madness of the whole endeavour worthwhile. Well, almost. ■

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PHOTOGRAPH by Thomas ‘Creager’ Stöckli/Red Bull Content Pool

see behind the scenes on our ipad app

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SUPPORTING

JOIN US FOR THE CITY’S MOST GL AMOROUS BALL 15 NOVEMBER 2012 This year, the City’s most established society ball will be more exciting than ever. We’ve swapped chairs and tables for a dancefloor and stage. The result will be an unforgettable night jam-packed with entertainment, live music and dancing till late. The masquerade theme remains,

as always, but this year we’re adding performances by the top acts from Britain’s Got Talent and The Voice. It’s a perfect opportunity to entertain friends and clients, mingle with the City’s movers and shakers, and be part of an evening to remember. Join us: it’s going to be a ball…

STA N DA RD T I CK E TS £79 PER H E A D; FO R M O RE I N FO R M AT I O N A N D O FFERS S EE M A S K E D B A L L 2 012 . C O M O R E M A I L A L E X .W A T S O N @ S Q U A R E M I L E . C O M


features

AS GOOD AS GOLD . 064 the feAr fActOr . 074

Rain on me. 70 WATCH: Hublot King Power Unico Titanium (ÂŁ17,000), available from Fraser Hart, 020 7236 4560; fraserhart.co.uk | Photograph by David Harrison


Features

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City streets may be paved with gold for some, but how has london maintained its global dominanCe of the world’s bullion market? TimoThy Green explains

M

y earliest MeMory of the London gold market, almost 50 years ago as a young reporter, is descending on a rickety wooden hydraulic platform beneath the streets of the City to a ‘packing room’, where small gold bars destined for India were being stowed in strong boxes lined with tissue paper. My guide was Jock Mocatta, the ninth generation of his family of precious metal brokers, their firm having been set up by Moses Mocatta in London in 1671 and first dispatching gold to India in 1676. Over the last three centuries the London gold market’s reputation has been built on a unique alliance of brokers – epitomised by Mocatta – the Bank of England, founded in 1694, and Plumbe & Browne, refiners based next to Goldsmiths’ Hall, whose gold bars were the first fully accredited by the Bank in the 1760s. The triumvirate was sustained by gold rushes in Brazil in the first half of the eighteenth century, which doubled global output. London cornered much of this gold, which was soon being coined into English guineas at the Royal Mint, replacing silver as the main currency circulating in the country. With the great scientist Sir Isaac Newton as Master of the Mint, a new fixed price was set in 1717, ushering in the gold standard. The essence of the standard was that gold coin, or banknotes, fully backed by gold at the Bank of England, should form the major circulation of currency. The standard, with a slight hiccup in the Napoleonic Wars, survived for 200 years. Once Brazil’s gold became available, “In London men of importance are all thinking in terms of gold”, wrote one contemporary. The Bank appointed as its official broker Abraham Mocatta, son of Moses Mocatta, a post the firm held exclusively until the 1840s (today it is still trading in London, as ScotiaMocatta). The Bank also set up its own bullion warehouse in 1731, open to all comers arriving in the country with gold. The warehouse (later the Bullion Office) remained the heart of the market until after 1850. Its inner working was revealed in 1810, when the House of Commons set up a Select squaremile.com

Committee to “enquire into the Cause of the High Price of Gold Bullion”. The gold price had risen steadily since 1797, when the Bank of England suspended payment in gold coin against its banknotes owing to the pressures placed on its reserves by the expense of keeping armies in the field during the Napoleonic Wars. The debate, JK Galbraith once declared, was the “most famous in all history on money and its management”. The witnesses were merchants, bankers, gold dealers, brokers, refiners and politicians. Their verbatim testimony gives us a true insider’s view of the market. iNsiDe tHe BUllioN oFFiCe A leading witness was the venerable John Humble, who had worked in the Bank of England’s Bullion Office since the 1770s. He told the Select Committee the Bullion Office was the minder of the Bank’s own gold reserves and the crossroads of most silver entering or leaving the country. “The business of the Office is divided into two branches,” he explained. “The first is for the purpose of weighing and ascertaining the value of the bullion in which the Bank is concerned; the other, in which individuals only are concerned.” The value of their gold was ascertained “by weighing, calculating the fineness according to the Assayer’s reports and casting up the value according to prices”. “Where do you get the prices?” the Committee asked. “From the Broker’s reports to the Office,” said John Humble. Who was the Broker? “Only one house [...] the house of Mocatta and Goldsmid,” replied Humble. So here was the Mocatta family, who had first set up in gold in London in 1671, and been close advisers to the Bank for almost a century, now allied to the Goldsmid family. Effectively, broker and Bank were privy to every deal in the market. John Humble added, “The bullion is deposited generally by ship-masters, and lies in the office for the owners to whom it is consigned; we keep separate books for entering those deposits, one of which we call the packet-book, and the other the man-of-war

book [...] we enter [...] a manifest of deposit, the name of the ship-master and the consignee, the name of the vessel [...] the number of packages and what the packages are said to contain [...] when a sale takes place, that is transacted by the Broker between the seller and the buyer [...] the parties come to the office and in their presence the package is opened, the bullion weighed, we deliver the quantity sold to the buyer and receive from him the price, which we deliver over to the seller.” Next, Aaron Asher Goldsmid was asked how, as the Bank’s broker, he judged the price of gold. “By enquiring the last price of various merchants; and generally the disposition of the market with the prices abroad,” he replied. He relied, too, on Wettenhall’s List, a report on all market activities published twice a week. The price was also influenced by demands for gold coin to finance Wellington’s army fighting the French in Europe. Indeed, this was a key factor in the rise of the price since the suspension of payments in gold by the Bank of England to the public since 1797. What Humble tactfully did not mention was that the gold was secretly supplied by the couriers of Nathan Meyer Rothschild, now established as a banker in London and set to be a growing influence in the market in the years ahead. The Select Committee, however, in their final report was to suggest the price had risen because the Bank of England had been printing too much paper money without the constraint of having to deliver gold (not far from ‘quantitative easing’ by the Bank in modern financial crises). The Committee ➤

The Bank’s gold was secretly supplied by Nathan Rothschild, now established as a banker 065


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Ten times as much gold was mined in the second half of the nineteenth century as in the first ➤ also recommended that a return to payment in gold coin against notes should be resumed as soon as the war was over. In practice, that took a decade. But within that time a new gold coin called the sovereign was launched – in 1816 by the Royal Mint – to replace the guinea, the basic coin since 1663. The sovereign became the international coin for the next century. The market was to face other changes in the decades ahead. The Royal Mint set up its own gold refinery at the Tower of London in 1813 and shortly introduced new gold refining techniques. Another challenge came from Percival Norton Johnson, whose grandfather had become the first commercial assayer of gold in London in 1777. Percival Norton set up in assaying and refining in Hatton Garden in 1822, establishing the great refining company, ultimately Johnson Matthey, that remains a worldwide refiner today (with offices still in the jewellery district of Covent Garden). Refiners Browne & Brind were also upgraded, as Browne & Wingrove. Nathan Meyer Rothschild was also challenging the Bank to accept him as a broker, as were the brokers Sharps & Wilkins, dating back to 1776. The Bank gave way in 1840, opening the Bullion Office to any sworn broker. The timing was fortunate. The London market was about to face its greatest challenge – the California gold rush of 1849, which transformed the world of gold for ever. THE GOLD RUSH ERA Essentially, there are two histories of gold – one prior to 1848, the other thereafter. Annual world production had risen fivefold by 1855, spurred on also by new discoveries in Australia in 1851. Ten times as much gold was mined in the second half of the nineteenth century as in the first. Most of it came to London. The gold market, previously almost a private club of the Bullion Office at the Bank, Mocatta & Goldsmid as broker, and Browne & Wingrove as approved refiner, with the Rothschild’s bank just admitted, now opened up to newcomers. The Bullion Office was quickly overloaded, so Mocatta & Goldsmid installed their own bullion weighing and

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packing room. Assayers and refiners were swamped, especially as Australia came on stream. “The Australian workings […] commenced a new era in the bullion business”, recalled Edward Matthey of Johnson Matthey in his memoirs. “As the sailing vessels arrived, the Bullion Office was sometimes flooded with gold […] the Bank of England sent to Hatton Garden and Johnson & Matthey were at once made ‘Assayers to the Bank of England’.” Before long the gold bars from their new refinery were accepted as ‘good delivery’ on the London market. The Royal Mint’s refinery was taken over by one of Nathan Meyer Rothschild’s sons, Sir Anthony Rothschild. The Royal Mint itself concentrated on turning American and Australian gold into sovereigns, as gold coin took over from silver in many countries of Europe in these decades. Yet another refinery was opened by the banker Henry Lewis Raphael at Limehouse, and given ‘good delivery’ status. The original refiners, now Browne & Wingrove, were outstripped by the newcomers, but survived for a few decades, mainly making small bars for India, which was taking up more gold. New brokers also stepped into the market. Mocatta & Goldsmid and Sharps & Wilkins were joined in 1852 by Stewart Pixley from the Bank of England, who went into partnership with William Haggard, whose father ran the Bullion Office. The following year Samuel Montagu, son of a Liverpool silversmith, set up a bullion and exchange office in Leadenhall Street. The gold rushes effectively created the modern market, which changed little for the next 100 years. Older members of today’s market remember ‘Jock’ Mocatta (ninth generation) and Stewart Pixley (fourth generation), active in the 1970s. Indeed, both of them kindly showed this writer ancient documents in dusty trunks when I first wrote about the market in 1966. The market I saw then was the creation of the 1850s. The gold coming through London was largely re-exported as nations across Europe forsook silver currencies for gold. The gold standard became a worldwide phenomenon, not just with fledgling central banks building gold reserves, but with millions of people around the world having gold coin in their pockets for the first time. In 1850 only Britain, Portugal and Brazil were on gold; fifty years later (after the United States went on the gold standard in 1900), China was the sole major nation not to have a gold currency. London was the turntable distributing much of the gold. Her position was enhanced by the discovery of the gold-bearing reefs of the

Witwatersrand basin in South Africa in 1866. They added a new dimension to gold output. The gold fields of California and Australia had relatively short lives, their surface mines soon being worked out. South Africa, with reefs plunging deep into the ground, were for the long haul (even today). For the next 100 years, South Africa was the gold producer, yielding up to 80% of world output for decades. London imported the gold, which arrived on the weekly Union Castle liners from South Africa. The gold was refined into ‘good delivery’ bars by Johnson Matthey, Rothschild’s Royal Mint refinery and Raphael’s. This routine continued for more than 30 years, but was cut short in 1921 when South Africa opened its own Rand refinery. This was a bitter blow to the London refineries, accustomed to handling over half the world’s gold; Raphael’s shut down, Rothschild’s Royal Mint diverted to other metals, and Johnson Matthey even had to close part of its plant. The consolation for the market was that the gold still came to London and continued to be marketed through the Bank of England to the brokers. The role of ‘capital’ of gold, established for 200 years, survived. INTRODUCING THE ‘FIX’ In some ways the London market was enhanced. During World War I the gold market was in limbo, with all trading controlled by the Bank. Now the gold price became dependent on the sterling-dollar exchange rate, and so fluctuated. The task of setting that price daily fell to members of the market at a daily ‘fixing’ inaugurated on 12 September 1919 – and continuing to this day. The London ‘fix’ became the benchmark around the world. A contemporary memorandum set out, “All fine gold available for sale on any day will be delivered by the refiners to Rothschild. Rothschild decided at 11 o’clock each morning, having regard to the various exchanges, what was the best sterling price of gold, which could be obtained by realisation in any part of the world. The four brokers, Mocatta & Goldsmid, Pixley & Abell, Sharps & Wilkins, and Samuel Montagu […] were given the opportunity of bidding and would obtain their requirements if the price they bid equalled or exceeded the realisation price fixed by Rothschild’s.” The status of the ‘fixing’, even in today’s fluid market, with prices changing from moment to moment, is that a deal done at the ‘fixing’ is at a clearly posted price. Central banks and other institutions often prefer it. The question, however, back in the 1920s, was whether the gold standard, essentially ➤

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Features

Gold price

£1,000

£/oz (loG scale)

£100

£10

£10 1344

1404

1464

1524

1584

1644

1704

1764

1824

1884

1944

2004

Source: The Golden conSTanT (2nd ed) appendix G daTa - courTeSy of Tim Green

➤ suspended in World War I, could be revived? The answer was no: it foundered in 1931 in the wake of the Wall Street Crash and the ensuing financial turmoil. Sterling was devalued and the London gold price rose almost 50%, while the US dollar gold price remained stable at $20.67 per ounce. And the torch passed to America, as the foremost economic power. The new high sterling price for gold triggered massive dishoarding from India back to London, and a rush by European hoarders for small gold bars. The pressure increased in 1934 when President Franklin Roosevelt, having already taken America off the gold standard and forbidden his citizens to buy gold, set a new fixed price of $35 per ounce in January 1934 (which would last until 1968) and ordered the US Assay Office to buy up all gold offered at that price. Many European central banks, facing domestic economic disaster, took the offer. As Mocatta & Goldsmid’s circular put it, “The departure of the USA from gold had the immediate effect of concentrating gold shipments from all over the world […] to the London market”. The trouble was, as the gold flowed in from the Continent, it bore the stamps of many refiners and banks, with which the market and the Bank of England were not familiar. Rothschild’s, Mocatta and the other brokers pressed the Bank to extend its ‘good delivery’ list of refiners whose bars it would accept. In 1934, the full ‘Specification of Bars acceptable on the London Gold Market’ was agreed, listing 20 refiners and mints from eight countries. It was extended in 1936 to embrace 28 international refiners and mints.

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BUILDING A GLOBAL BRAND The London Gold Market now had a unique status. The Good Delivery Gold List was on its way to becoming a global brand. Viewed from today, when that list contains 62 refiners in 27 countries, London has cornered the heart of the worldwide bar market. But before that, the market had to weather the upheavals of World War II. Effectively, it went into hibernation from September 1939, on the outbreak of war, until March 1954, when it reopened with a ‘fix’ of £12.42 per ounce (compared to £4.25 in much of its earlier history), although the dollar price, which was now the benchmark, remained at $35 an ounce as set by President Roosevelt in 1934. The Bank of England, however, remained an active fulcrum for gold trading among central banks, selling their stock to the US both in the 1930s and during the war, and buying it back as the economies of Europe recovered in the 1950s. The Bank, at centre stage, had unique experience of handling gold. Even the Federal Reserve Bank of New York, which housed much gold shipped there

After centuries, gold was now a moving target; profit became a motive for buying or trading

for safety, deferred to London’s know-how. As an official at the Fed told me when I first investigated gold, “It’s like a Greyhound bus, we leave the driving to them”. The Bank of England was the natural choice to preside over a ‘gold pool’ of European central banks, which sought to maintain the gold price at 835 an ounce in the 1960s by buying or selling into the market through a telephone link to the London gold ‘fix’ at Rothschild’s. The Bank and brokers also kept an eye on the ‘good delivery’ status of all bars traded. The alliance of Bank, broker and refiner was still in place. A fundamental change, however, was ahead. With the US mired in the Vietnam War, the dollar weakened and the gold pool could no longer provide enough gold to sustain the $35 price. In March 1968 it gave up and the price, effectively for the first time in history, was free to float. That changed the perception of gold. After centuries fixed, it was now a moving target; profit, as much as protection, became a motive for buying or trading. The game changed, so did the players. In London traditional brokers gave way to high-flying traders getting to their computer screens by 7am to start making prices in what became a round-the-world, round-theclock forum. Historic brokers, like Mocatta & Goldsmid or Sharps Pixley, came under the wing of international banks providing the essential capital for such operations. Major Swiss banks became more active and London took up the challenge. The practical outcome was that much less gold came through London physically, but it remained the trading hub. And although today there is no London refinery on the Good Delivery Gold list, it is the London Bullion Market Association that presides over, and is arbiter of, that list. Likewise, the London Gold Fixing continues, but participants such as Rothschild are gone, and Deutsche Bank from Frankfurt is a fixing member. Mocatta, the survivor from 1671, still thrives as ScotiaMocatta, owned by Canada’s Bank of Nova Scotia. As for the Bank of England, its own gold reserves are less, but it still houses the gold of many nations in its vaults, as a depository with three centuries’ experience. The last word comes from Mocatta, founded in 1671 and still in the game. I asked Simon Weeks of ScotiaMocatta what was the secret of London’s success. “Commitment,” he said. “This is a long-term business; you can’t just dip into it.” Well, after 342 years, Mocatta should know. ■ For more insight into the world of gold, Gold: Power & Allure, edited by Helen Clifford (Goldsmiths’ Company) is out now.

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A different approach to wealth management.

Established in 1989, Killik & Co focuses on providing a relationship-based Multi-Asset investment approach to retail clients, with an emphasis on accessibility, trust and integrity. We have no minimum portfolio size and every client is allocated a highly qualified Broker who is their single point of contact for investment advice and execution. Killik & Co offers access to the whole of the stock market and specialist areas include Advised and Discretionary portfolio management, SIPPs and holistic financial planning. Our clients can also fully access our investment research - including our highly regarded Daily Note – and coverage includes UK and international equities, bonds and funds. Visit the City branch or contact Nick Crellin or Ben McKeown for further information about Killik & Co.

Nick Crellin Branch Manager, Partner

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20 King Street, London EC2V 8EG 020 7600 9990 / city@killik.com Branch hours are 8am to 5.30pm, Monday to Friday

ADVISORY

www.killik.com/city Authorised and regulated by the Financial Services Authority.

The value of investments and the income from them may go down as well as up and you may not get back the amount invested.


Features

Tempest Fugit

As winter drAws in, jon hawkins selects the top timepieces for tAking the elements fAce on Watches: Fraser hart • PhotograPhs: DaviD harrison

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Making a splash: (from left to right) Corum admirals Cup Challenger 44 Chrono Rubber, £6,250; Zenith El primero stratos Flyback alchron, £5,600; longines legend Diver in Rose gold, £5,600; Bell & Ross BR02-92 CaRBOn, £2,600; Montblanc sport DlC Chronograph automatic, £3,740

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Features

Wet behind the gears: (from left to right) breitling superocean heritiage 46, ÂŁ3,170; Oris Prodiver date, ÂŁ1,740

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All watches available from Fraser Hart, One New Change, Unit SU16, 8 New Change Passage, EC4M 9AG; 020 7236 4560;

fraserhart.co.uk

Raining stRaps and cogs: (From left to right) tag Heuer aquaracer 500M, £ 3,450; chopard superfast chrono, £7,800; graham swordfish Booster Black, £7,340

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Features

Tears for Fears RobeRt Kelsey , a former banker turned

bestselling author, argues that the City’s biggest problem isn’t greed – it’s fear

I

was a terrIble City banker. My problem?

Fear. Fear of failure, in fact. It wasn’t that I was unable to take the risks that are part-and-parcel of an investment banker’s role; fear doesn’t work like that. Indeed, I could take ludicrous risks in some of the most volatile trading environments on the planet: Russian oil comes to mind, or the US energy market. It was my judgement of risk that was undermined by my fears. My ability to sort good fear – required for diligence and analysis – from bad fear, which is the zone lurking within us all that can lead to either paralysis or, as we shall see, nonsensical leaps. Of course, I got out – I left the City to become an entrepreneur. I used my City knowledge to start a financial PR agency, although I also started researching the fears and insecurities that had dogged my banking career. That said, I was hardly alone. Fear stalks the corridors of all the great financial institutions. In fact, I think that fear of failure is one of the City’s key problems, and a far larger contributor than greed to the 2008 crash. Fear of failure is a recognised mental condition. It even has a name: atychiphobia. In reality, the condition is driven not by fear of actual failure, but by the fear of public humiliation resulting from failure. The derision of our peers, it turns out, is the biggest driver of fear-based responses – and certainly a major factor when it comes to both everyday and extraordinary behaviour in the City. Fear can occupy both ends of the

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behavioural spectrum. At one end is the obvious reaction to fear: avoidance. We are expected to act, which triggers our fears and results in us doing the opposite. We flee – which, in the City, means hesitating until the opportunity is lost. Perhaps we look for, and inevitably find, that one tiny flaw that offers us the justification we need to walk away. Procrastination is a classic symptom here, in which we find excuse upon excuse to avoid taking action. Nothing’s been lost, for which we’re grateful. But, significantly, nothing’s been gained, which is hardly a sustainable strategy for long-term success in the City. Given the pressures, inaction is therefore only the second-most common response to fear in the City – not least because nothinggained scenarios will quickly lead to the public humiliation we were so keen to avoid. On a trading floor, and in the smart suites full of deal-doing investment bankers, avoidance is often not an option. Deals have to be done. And that leads to the second and more dangerous response to fear of failure: taking extreme, poorly-calculated risks. This needs explaining, which means going back to the developmental roots of fear of failure. In nearly all cases, our fears are based on early-life conditioning. Fearful events have triggered what the psychologists call ‘fear conditioning’. In neurology, this happens when a part of the brain known as the limbic system is triggered by fear. It’s the amygdala – a small almond-shaped element within the ➤

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IllustratIon by robert M Ball

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Features

➤ limbic system that signals emergencies to the rest of the brain – that’s doing the work here. Indeed, the amygdala’s response explains why our fears usually arrive via those nerve surges through the body, known as ‘neural hijackings’ by neurologists. Yet the amygdala’s response is only half the story. Attached to it is a horseshoe-shaped element called the hippocampus. This deals with memories – crucially, deciding what we remember as well as what we forget. So when a fearful event occurs – perhaps a large, barking dog running towards us – the amygdala presses the alarm. This sets off classic fear-based reactions – a faster heartbeat, adrenaline, shaking – which causes the hippocampus to take note and make a deeper impression on our memory. This also works in reverse: the hippocampus can trigger amygdala when reminded of a fearful event. So if a dog attack generated a fear, the sight or sound of a similar dog can trigger the same response, even should the dog be friendly and tethered – hence the fear conditioning.

Fear of failure explains all those rogue trader scandals, most of which started with a cover up 076

Of course, a fear of dogs is no reason to avoid sensible risk taking in the City. But the fear of public humiliation – another childhood event that can trigger emotions and cause a reaction in the amygdala and hippocampus – is a reason. If we were laughed at in public as a young child – perhaps for not making it to the toilet in time, or forgetting to bring a satchel to school – the amygdala and hippocampus can conspire to generate the same fear conditioning, in turn triggering a fear response when in later life we are reminded, even tangentially, of the earlier humiliation. Extraordinary as it may seem, this is actually a mild form of post-traumatic stress disorder (PTSD). The godfather of PTSD is a man called Dennis Charney of Yale University in Connecticut. Although he studied war veterans, he concluded that the traumas that may generate fear conditioning can occur at a very young age – perhaps when a baby or even in the womb, meaning that we may not remember the actual event, just the fear response. Therefore, public humiliation can generate an equally fearful reaction. Yet we’ve still not explained why fearful people take extreme risks. Crucially, they’re masking their fear response – making extreme risk taking no more than a well-disguised version of avoidance. From Yale, we travel to Stanford University in California, where psychologist John Atkinson conducted scientific studies in the 1960s. He set children a series of reward-based tasks and noticed that they divided into two groups: those that were focused on winning the reward (the “achievement motivated”) and those focused

on avoiding the humiliation of failure (whom he claimed had “fear of failure” – coining the phrase, in fact). One task was a game of hoopthe-peg, with greater rewards on offer the further back the children stood. Focusing on the reward, the achievement-motivated kids stood a challenging yet realistic distance from the peg – concentrating more if they failed the first time. The fear-of-failure kids, meanwhile, focused not on the reward but on the potential humiliation of failure: they stood right by the peg or, extraordinarily, so far back that failure was almost certain. Of course, at such long distances they all failed, which masked their fear of failure – and while not expecting a reward, they did expect to receive kudos of some form for being seen as a ‘trier’. So it appears that at both ends of the risk spectrum, fear of failure is a major motivator for City behaviour. Of course, the occasional child managed to hoop the distant peg – just as plenty of high-risk City gambits work out. Yet this leads to further problematic behaviour: hubris, not least to mask the even-deeper insecurities generated from a success that, deep down, we consider undeserved. Certainly, fear of failure explains all those rogue trader scandals, nearly all of which start with a trader trying to cover up modest losses that, if declared, would have resulted not in disaster, but in humiliation. However, I think that it explains a lot more besides. In fact, I think that fear of failure runs right through the City, and not just at the execution level. As a banker, I remember helping to structure ‘debt-reducing’ deals for Enron. Obviously, they were hideously complex – as illustrated by those box-and-arrow diagrams that we see scrawled across meeting room whiteboards. They were the sort of deals that you thought you understood, but were grateful not to have to explain. Certainly, I struggled with their complexity, although I did a fair impression of being fully up-to-speed. Yet I wasn’t the only one masking my ignorance. While cooking them up in a meeting room, we’d win the occasional visit from a C-suite banker. Cheerfully, we’d run him through the deal, rapidly charging off into the land of options on swaps for fat-tails on price hedges. “Sounds great” or “Well done!” they’d say, before quickly excusing themselves. Of course, they didn’t have a clue – although, when it came to Enron, neither had we. Meanwhile, everyone had masked their fear of humiliation, and the City of London had taken another small step towards the edge. ■ The second edition of What’s Stopping You?: Why Smart People Don’t Always Reach Their Potential and How You Can by Robert Kelsey is published by Capstone, £10.99

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Savile Row in the City

Chester Barrie’s tailoring team will be at the Merchant Taylors’ Hall: 9.00 to 5.00, Friday 16th November. To make an appointment, please call Richard or Adrian: on 020 7439 6079 or email: info@chesterbarrie.co.uk. Classic made-to-measure suits from £795, Hand-tailored suits from £1800. Merchant Taylors’ Hall, Threadneedle Street, London, EC2R 8JB


Swiss movement, English heart

Swiss made / 250 piece limited edition / ETA Valjoux 7750 self-winding chronograph with ĂŠlaborĂŠ finish / Bi-compax, galvanic, sapphire blue dial / 45 hour power reserve / 316L stainless steel case / 43mm diameter / Transparent case back / Blue alligator deployment strap


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jewellery motors reviews travel golf

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BouchEroN Set with coloured sapphires, fine stones, emeralds and diamonds, this Bouquet d’Ailes necklace is a signature piece of the Maison Boucheron. uk.boucheron.com

DIVIDENDS JEwEllEry

all that Glitters…

It’s not just gold, but precious metals and stunning stones galore that make up these showpieces, says Lizzie RiveRa

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HARRY WINSTON Renowned for the brilliance of its diamonds, Harry Winston has pulled out all the stops with this River Diamond necklace from its Water collection. harrywinston.com

HARRY WINSTON Splashes of colour reflect the hues of the sea, as well as Harry Winston’s lesser known fondness for coloured stones, in this Splash Turquoise ring from the Water collection. harrywinston.com

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VAN Cleef & ARpelS This white gold and diamond Étoile Filante clip, part of the Palais de la Chance collection, beautifully illustrates Jacques Arpels’ maxim that ‘to be lucky, you have to believe in luck’. vancleefarpels.com

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Assets

Buccellati Created from emeralds and diamonds in an imperial style, this exquisite piece is a testament to Buccellati’s reputation as masters of haute Italian jewellery. buccellati.co.uk

graff From the worldrenowned jewellery house, rich in legacy and style, this sapphire and diamond cuff is both modern and elegant and would make a stunning adornment to any wrist.

graffdiamonds.com

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Boodles Classic British design inspired by the historic Silk Route, this Paisley white diamond pendant is set with 4.66cts of round brilliant-cut diamonds. boodles.com

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Motors Lightning car coMpany

Greased LiGhtninG

Matt Huckle always thought electric cars were a little, well, naff.

He soon changed his tune when he heard about the Lightning GT

E

lEctric cars. A phrase that could knock the enthusiasm out of even the most hardened motoring fanatic – especially if wielded by the wrong manufacturer. They’re slow, ugly and called things like ‘G-Whazz’, right? What electric cars need is a mean-looking, expertly-engineered standard bearer to fly the flag for their kind. And, as luck would have it, we’ve found just the car for the job. The Lightning Car Company has achieved the unthinkable and designed an electric car that performs and handles like a sports car. And, most importantly, it doesn’t look like it was designed for a 1980s Sci-Fi film. The first thing you’ll notice on ignition is how quiet it is. Almost eerily so, in fact. We were stood next to one for a good ten minutes before we realised it was actually ticking over. It’s equally silent when it’s moving, too, and you’ll enjoy the confused looks on people’s faces as you glide past them in something that looks like you should hear it coming for miles. The design is completely original and isn’t based on existing designs or chassis. It’s also very British. Every car is hand built and more than 90% of the components are sourced here in the UK. For example, the powertrain hails from Sheffield and both the honeycomb aluminium chassis as well as the carbon fibre body are made in the Midlands. Of course, the car’s British background is worth little if it isn’t actually any good on the tarmac. Fortunately, the stats provide a reassuring read: the two 150kW rear-mounted motors propel it from 0-60mph in less than 4.5 seconds and it carries a top speed of 130mph. The GT is rear-wheel drive and has

Electric cars need an expertly engineered standard bearer to fly the flag for them 088

a peak power output of 300kW, with 3,000Nm of torque available. In other words, it’s got a serious bit of ‘oomph’. The juice comes from lithium titanate batteries which are far quicker to charge than other lithium batteries. Astonishingly, if you have a high-performance charger you can charge the GT in as little as ten minutes. The batteries are said to be very durable and will last several years, being capable of more than 10,000 recharges before they begin to burn out. If you give the car a full charge you can expect to comfortably cover 150 miles with the standard batteries, with more than 200 miles possible if you opt for the larger pack. Perhaps more interesting is the fact the batteries are actually integrated into the car’s chassis. This ensures an extremely rigid frame, which in turn creates a car that handles well on the road and takes corners with considerable poise. Crucially, it’s fun behind the wheel as well, with high levels of driver feedback constantly allowing you to tweak and perfect your drive. Lightning is still working on the interior of the car but you can be sure it will have all the mod-cons, such as Sat Nav, a high quality entertainment system, and great speakers. All this and we haven’t got to the main reason electric cars are being produced at all: the low emissions. There are zero emissions at the tailpipe so you can take to the road with a clean (and green) conscience. If nothing else, the Lightning GT shows it’s perfectly possible to create electric vehicles that pack a punch, which is a great bit of news for Mother Earth and eco-friendly petrol heads alike. We might just have to start calling them ‘battery-heads’ or something. (The jury’s still out on that one.) All sounds great, right? You may have to be a little bit lucky if you want to get your hands on one, though. Lightning is only planning on making 20 in 2013, each bespoke to the owner’s requirements. ■ For more info on the Lightning GT, call 020 7386 6600, email enquiries@lightningcarcompany.co.uk or visit lightningcarcompany.co.uk.

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Assets

See more PICTUreS on oUr iPad aPP

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Motors Mercedes-benz

CENTRE OF ATTENTION Wallflowers should steer clear of the Mercedes-Benz SLS AMG roadster, says Jon Hawkins – it’s something of an attention seeker

mercedesbenz sls amg roadster EnginE

6.2ltr V8

PowEr

571bhp

ToP sPEEd

197mph

0–60mPh

3.7 secs

PricE (oTr)

£176,925

mercedes-amg.com

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A

strAnge thing hAppened while I crawled

my way back to a congested London in a Mercedes-Benz SLS AMG roadster. Other drivers were staring at the front of the car with such neck-wrenching enthusiasm that I managed to convince myself there was something wrong with the car. Perhaps I’d left the bonnet open, maybe the engine was on fire, or I might have unwittingly run over a tiger and it was wedged in the grille. So I pulled over, got out and took a look. There was, unsurprisingly, nothing to see, other than a 571bhp convertible supercar with a low-slung, belly-scraping posture and the longest bonnet since Peter Perfect’s Turbo Terrific in Wacky Races. The SLS AMG has a lot of front for people to gawp at. But it’s concealing one hell of an engine: the hand-built, 6.2-litre V8 is the car world’s most powerful naturally-aspirated engine, and by lopping off the roof of the coupé – and, in doing so, sadly losing those iconic gullwings – the driver is more aware of it than ever. It’s a masterpiece of visceral automotive theatre: squeeze the accelerator, and noise and speed rise together in glorious, terrifying tandem. Sixty is reachable in 3.7 seconds, and hang on for around 7.5 seconds more and you’ll reach 125mph. The really brave – and those with a very long stretch of empty tarmac – can go all the way up to 197mph until the speed limiter decides you’ve had enough fun already. Given how much fun it is to drive, it’s easy to forget what it looks like – which, for the record, is pretty remarkable. I still think the coupé is the more coherent shape, and those gullwing doors add a touch of authentic supercar glamour and impracticality (you need the arms of an orangutan to reach up and close them once you’re ensconced in your seat), but the roadster is still a beautiful thing. The flanks are dominated by the 1950s 300SL-aping strakes, and the intersections between razor-sharp lines and sinuous curves give the SLS a taught muscularity. The soft-top may lack the drama of the coupé’s gullwinged cockpit, but it’s certainly clever: retracting it takes just 11 seconds, and it operates on the go so long as you’re going at less than 30mph. ➤

See more The See vIdeo on PICTUreS oUr iPad on oUr aPPaPP iPad

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➤ In any case, from behind the wheel you’d take the roofless version every time for the way it exposes you to the character of the SLS with minimal dilution – the driver’s hardly isolated from the action or deaf to that majestic V8 in the coupé, but in the roadster you feel closer to the scenery and even more involved in the process of tearing up the road. Of course, you’ll also be involved in getting wet if English weather stays true to form, but the hood-up experience is so good it’s worth waiting for the sun to be bothered to put on a Panama and leave the house. Failing that, the roadster is a good excuse for a European road trip, and the boot is just about large enough to take a long weekend’s-worth of luggage; there’s only three litres’ difference compared with the boot of the coupé, with a capacity of 173 litres whether the hood’s up or down. As it happens, I didn’t need to go any further than the New Forest for a rarified dose of summer sun, and the SLS roadster turned out to be an unfailingly brilliant companion, for all the reasons that you’d expect and some others that you might not…

In the roadster you feel closer to the scenery and more involved in tearing up the road 092

So let’s get the obvious bit out of the way first – this nigh-on 600bhp convertible supercar was an absolute, riotous hoot. The depths of torque available from the 6.2-litre V8 from Affalterbach, where AMG’s headquarters are based, appear to be limitless. You can wade around the bottom of the rev range perfectly easily, but press on and the soundtrack – which you would describe as Wagnerian for its furious intensity if the noise weren’t so bloody joyous – builds as the car is catapulted towards the horizon. As a driver you sit low in your carbon-backed bucket seat, peering out across what seems like acres and acres of bonnet with the rear wheels just centimetres from your backside, and under heavy acceleration and enthusiastic cornering, the sensation of velocity is totally intoxicating. Whether you’re behind the wheel or in the passenger seat, the SLS AMG roadster feels like a truly special and very exotic car. Surprisingly, though, given its power and size (the SLS is a large, wide vehicle – the cavernous gap between driver and front passenger tells you as much), it’s also an easy car to drive. Clever touches like blind-spot indicators that illuminate a little red triangle in your wing mirrors, and excellent parking assistance, help things enormously, and so does the tractability of the torque-rich engine. Admittedly, you probably wouldn’t want to take it on the school run every day, but it’s nice to know you could – providing you could put up with the craned necks and dropped jaws. On balance, and after very careful consideration, I think I probably could. ■

DRIVE TIME

Parmigiani Fleurier Bugatti SuPer SPort in roSe gold, £220,000

Few manufacturers take driver’s watches more seriously than Parmigiani Fleurier. in fact, Parmigiani’s designers take them so seriously they have entirely altered the way they are made. in 2010, Parmigiani’s Bugatti Super Sport revolutionised watchmaking almost to the same extent as its Veyron counterpart did for the automobile industry. Firstly, the watch face is angled so the time can most easily be read when the wearer’s hand is gripping a steering wheel. under the hood, the Calibre Parmigiani 372 is designed in two planes to fit both this new dial orientation and the contours of the case – aerodynamic teardrop in shape. even the movement’s train wheels are cut in the form of car wheels. the iconic watch has now been released in rose gold for a limited run of just 30. Better get your motor running… 020 3355 7702; parmigiani.ch


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Assets

as Good as Gold

Reviews Quince

turkish delight

Mark Hedley discovers that the influence of the Ottoman Empire

reigns on inside the walls of a sophisticated London eatery…

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white miso roasted black cod, all the way to a melting 45-day-aged côte de bœuf, the menu refuses to be pigeon-holed. The one element of the cooking style that remains consistent is Rowe’s balance. Every dish we tried confidently walked the tightrope between rich and fresh. The Persian spiced lamb cutlet, for example, was served with a sumptuous white truffle sauce – but shallots and sharp tomato chunks offset this beautifully. Our favourite dish was Ottoman-crusted soft shell crab laksa. The aromatic, coconut soup (more like sauce) was so good my dinner companion declared that she “didn’t want to eat anything else ever again”. She swiftly retracted that statement on presentation of a ‘burnt’ orange baklava – which was so stunning it should have had its own harem. The Empire may long since have dissolved, but long live Ottoman cuisine. ■

Studer’s Swiss Gold Gin is available exclusively in the UK from Eminent Wines, priced at £50

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hen The MAy FAIr hotel relaunched in 2006 after a £75m refurb, I was invited to the launch party. It was a debauched affair – champagne by the truckload, a VIP section in the penthouse and semi-naked women gyrating inside giant martini glasses. All that was missing was Prince Harry and a billiards table. The night was as exciting as it was excessive – much like 2006 in general. Of course, today is a very different time. Not that you’d notice it in The May Fair – it’s as glamorous as ever. And it has the restaurant to match. A year ago, Silvena Rowe launched its new restaurant, Quince. Born in Bulgaria, Rowe has made her name from becoming the empress of Ottoman cuisine. Circling the Mediterranean basin, the Ottoman Empire was at the very centre of interactions between the East and West, so it’s an apt metaphor for Rowe’s cooking – which fuses a range of influences as long as the Spice Trail itself. This is by no means just ‘posh Turkish’. From supple

The use of gold in cooking dates back as least as far as the Middle Ages, when the rich wrapped their roast birds in gold leaf for lavish banquets in ostentatious displays of wealth. So, in comparison, adorning your G&T with a few flakes of gold is relatively understated. But it certainly makes a nice addition for a gift, perhaps, or an added flourish for a celebratory tipple. Studer’s 22-carat Swiss Gold premium gin, with Alpine springs at its source and gold flakes in its bottle, is fairly new to the UK market. It offers a pure and elegant aroma with classic juniper, hints of angelica and lavender that evolve into black spice with a lemongrass finish. The complexity of the gin is best appreciated neat – no lemon or lime required. That said, it also goes very nicely with ginger, making it a warming choice as winter draws in. ■

Quince, The May Fair Hotel, Stratton Street, W1J 8LT; 020 7915 3892; quincelondon.com

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WINE JaNcIs RobINsoN

EASTERN PROMISE

In China’s Ningxia region, Jancis Robinson discovers a grape with a surprising French ancestry that’s grown in abundance in Chile...

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ast month, by complete coincidence, Waitrose introduced their first-ever Asian wine – from Ningxia, China’s most winefriendly region –– to their stores at the same time that I visited the area. Ningxia is a fascinating place, not least because its government is keen to make it China’s leading wine region. But in my tasting of the local reds – which outnumber whites by a considerable margin, as is the Chinese way – I kept coming across a distinctive and not altogether pleasant flavour, something almost aggressively green and peppery. This turned out to be the local grape speciality known

Ningxia is fascinating, and its government is keen to make it China’s leading wine region squaremile.com

as cabernet gernischt – probably a mistaken transcription of cabernet gemischt, or ‘mixed cabernets’, on some cuttings. Swiss botanist and grape geneticist Dr José Vouillamoz managed to get samples of this variety from China’s biggest winery, Changyu, to analyse their DNA, establishing that it is in fact carmenère, the old Bordeaux variety now so common in Chile. Hence the green note, evident in many examples of carmenère grown even in Chile’s much hotter climate. Put this together with the fact that much of the cabernet gernischt of Ningxia is apparently affected by the leafroll virus, which slows ripening, and you have a recipe for considerable greenness. I was intrigued when, back in London, I tasted a Cabernet Gernischt Blend 2011 Ningxia from Changyu and found no trace of greenness, so I asked Austrian winemaker Lenz Moser, cited as a consultant to Changyu, how this had been achieved. He tells me they reduced yields from Ningxia’s over-generous norm of 25 tonnes per hectare to a more reasonable 10 at most, which “gave us a completely different base for winemaking: physiologically ripe grapes”. They also used a considerable portion of softening merlot in the blend, along with cabernet sauvignon for structure. “Cabernet gernischt adds the spice we love. This type of assemblage creates something that we believe will make China an international player. We believe that Ningxia is an ideal wine-growing country: it has an average of 3,000 hours of sunshine a year, 1,100m of altitude and a desert climate, plus irrigation – an important factor apart from the fact that Changyu has improved their technology dramatically in the last couple of years under the stewardship of Dr Li, Changyu’s head oenologist.” Changyu has built an extraordinarily vast copy of a French ‘chateau’ as its winery in Ningxia. It’s good to taste evidence that it is home to not a little winemaking expertise, too. Changyu Cabernet Gernischt Blend 2011 Ningxia is available at Waitrose for £9.99. ■ For more than 70,000 wine reviews, sign up

chivas regal 12 made for gentlemen limited edition

the true definition of a gentleman might have shifted away from its roots in nobility, but if there’s anything the modern gent shares with his spiritual ancestor it’s an impeccable sense of style and a keen eye for craftsmanship. So it makes sense that Chivas 12 has teamed-up with cult shoemaker and designer tim little (owner of grenson and master of the brogue) to create the first in a series of 12 made for gentlemen limited edition tins. inside you’ll find a bottle of finely crafted Chivas 12, with its characteristic notes of butterscotch and vanilla, and honeyed, fruity taste with a creamy, nutty finish. the stylish tim little-inspired packaging features classic brogue patterns in signature Chivas 12 colours, to reflect the craft and heritage that goes into making both little’s shoes and the whisky inside the tin. the first Chivas whiskies were created by brothers John and James Chivas in the early 19th century, and a wealth of history and dedication to craftsmanship and refinement have resulted in a product that’s now the biggest selling deluxe blended whisky in UK shops. “guys today are looking for a real story and real heritage,” says little. in the first of the Chivas 12 made for gentlemen series, and the classic brogue that inspires it, they’ll find both in spades. ■

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experience another world

Over 520 hotels in more than 70 countries

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THe escape Maldives Set on Vagaru Island, the Viceroy Maldives resort features 61 beach- and water-front villas, various fine dining options, and a superb spa. The spacious villa grounds ensure you can enjoy the scenery without having to hear “So what do you do for a living?” from your holidaying neighbours. A nautical theme means the front of your villa resembles a ship’s deck. Opening out directly onto the turquoise waters of the Indian Ocean, it allows you simply to wake up and dive straight in. Makes the ensuite baths slightly surplus to requirement. ■ Tel +960 654 5000

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gallery gallery

CALKEN gallery is renowned for its emphasis on figurative bronze sculpture, and is home to the exquisite artwork of Royal Academy, Landseer Prize winning sculptor, Michael CALKEN gallery is renowned for its emphasis James Talbot. on figurative bronze sculpture, and is home to the exquisite artwork of Royal Academy, The sculpture is presented in relaxing, elegant Landseer Prize winning sculptor, Michael surroundings, together with a refreshing James Talbot. variety of paintings from established and emerging artists. The sculpture is presented in relaxing, elegant surroundings, together with a refreshing The gallery is situated in Kensington Church variety of paintings from established and Street, one of London’s destination streets and emerging artists. only a short walk from neighbouring Kensington Palace and Kensington Gardens. The gallery is situated in Kensington Church

‘Ophelia’ by Michael James Talbot

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117 Kensington Church Street London W8 7LN


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Travel Paris

bubble and chic

Paris Fashion Week may have been and gone, but Jack Donne says that when it comes to fashion, the city is in a league of its own…

city view Paris Few cities are as effortlessly stylish as Paris. It just seems to come naturally – as easily as a shrug. Of course, it helps that the fashion industry has found its spiritual home here long before this 1960s photo was shot for Harper’s Bazaar. For the full Paris fashion experience, book yourself in at the Hotel du Petit Moulin. This boutique beauty has been designed by Christian Lacroix. ■ For further travel inspiration, a new Tashcen tome on Paris is out now (£44.99).

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PhotograPh by Melvin Sokolsky, Courtesy Fahey/Klein gallery, Los angeles

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travel peter island

economy of scale

Peter Island, part of the British Virgin Islands in the Caribbean, is as effortlessly easygoing as it is diminutive, says jon hawkins

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s the boAt approached the spectacularly beautiful, surprisingly rugged coastline of Peter Island, it was impossible not to imagine how it might have looked to Christopher Columbus when he first sighted what we now call the British Virgin Islands more than 500 years ago. It’s an arresting enough sight now – when we’re constantly bombarded with visions of pristine paradise and far-flung tropical idylls – but in 1493 Columbus must have felt like he’d arrived in another, altogether better, world. And so did we as soon as our boat touched down at the resort’s marina. From the moment we stepped off the craft into the wooden reception hut and glasses of rum punch, made with fresh ginger lemonade, were thrust into our hands, we might as well have been a few million miles away rather than a hop, skip and jump – or rather plane, much smaller plane, taxi and boat ride – over the Atlantic Ocean. The island itself is small (just 720 hectares) and privately owned, and the Peter Island Resort & Spa occupies about half of it. Much of the island is covered in the kind of dense, Jurassic Park-style foliage that you might expect to see packs of velociraptors roaming around in. This isn’t sterile, perfectly manicured beauty – Peter Island is breathtakingly rugged, and all the more appealing for it. It’s not hard to see why the resort is part of Abercrombie & Kent’s new Islands & Retreats programme – the luxury travel company has responded to customer demand by offering a portfolio of select island hideaways in the Caribbean and beyond.

It’s gobsmackingly brilliant, and I’d happily sell a few organs to be there right this second 104

Restaurants and accommodation at the resort are clustered around the island’s northeastern shore, with views across to Tortola, the largest of the British Virgin Islands, in the north and a string of tiny islands in the shadow of the larger Virgin Gorda, to the north-east. We arrived from Tortola in the evening, just in time to dip our toes in the sea before dinner, which wasn’t difficult given that the beach was just a few metres from the doors of our suite. All it takes is to open the French windows, brush aside the hammock, navigate your way around a couple of palm trees, and you will soon find your feet in soft, white Caribbean sand. Not surprisingly, that became a familiar sensation throughout our trip. Deadman’s Beach – or our beach, as we liked to call it – is a crescent-shaped stretch of sand surrounded by verdant, rocky headlands that seem to have grown out of the turquoise sea. It is truly the 1907 Rolls-Royce Silver Ghost of beaches; the pre-1990 Michael Jackson of sheltered bays; the Bobby De Niro circa Taxi Driver of tropical paradises. Basically, it’s gobsmackingly brilliant, and I would happily sell a few organs to be back there right this second. Suffice to say that we made the most of our time here – lazing in hammocks shaded by palm fronds swayed by gentle winds, swimming alongside rays and the occasional turtle in the crystalline water, and even eating a candlelit dinner as the sun set behind us – but there’s far more to the island than just that one, admittedly rather special, beach. The two restaurants, Tradewinds and Deadman’s Grill, would be outstanding even if they didn’t both happen to be perched just metres from the Caribbean. Tradewinds is the smarter of the two (not that formality is much of a consideration on Peter Island), looking out across the channel to Tortola and serving everything from perfect fillet steaks to locally caught fish and Madagascan prawns so large they could probably be ridden by a small child. Otherwise, eating at Deadman’s Grill has a relaxed feel that’s entirely in keeping with the gorgeous beachside setting. ➤

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More often than not an impatient recipient of massages, I never wanted this one to end

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➤ Relaxation isn’t far from the agenda on Peter Island. At one point soon after our arrival, I stopped by at the resort’s reception to check I’d got the right time for our dinner reservation. “Relax,” said the grinning receptionist, “you’re in paradise.” Cheesy, yes, but I wasn’t about to disagree. For an even more personal experience, the resort has three tucked-away hilltop villas – the frankly astonishing six-bedroom Falcon’s Nest, the more modest colonial-style Hawk’s Nest and the four-bedroom Crow’s Nest, which has truly remarkable views of the island and its neighbours that have to be seen to be believed. There are barely less-magnificent views from the hotel’s spa, which offers a truly sublime setting for treatments that I struggle to imagine could ever be bettered. For our couple’s treatment we were led out to one of the spa’s ‘bohios’ – small wooden huts hidden away from view and open to the elements within sight of the waves that tumbled into Big Reef Bay. More often than not an impatient recipient of massages – to me, they usually seem to me to go on forever – I didn’t want this one to end as the aches and pains of, well, lazing around on the beach and eating my own body weight in seafood, were eased out of my muscles with a gentle Virgin Islands breeze blowing across my back. This is what Peter

Island is all about: luxury, breathtaking natural beauty and escapism, all bundled up into one irresistible Caribbean package. On our penultimate night, we took a car to one of the island’s highest points, on a rocky hill above a reef where we’d snorkelled the previous day. Sat in our deckchairs and armed with a bottle of wine, we watched the sun set in the distance over the neighbouring St John, part of the Virgin Islands of the United States. Rather than focus on the spectacular sight right in front of me, my mind was scrabbling to think of ways that I could set up my office somewhere in the tangled undergrowth and work from my new ‘home’. When Christopher Columbus first spotted Peter Island almost 520 years ago, he didn’t bother to stop. Ultimately it was probably for the best – if the Italian explorer was anything like me, he might never have left. ■ Hawk’s Nest Villa: from £2,640 per person, based on six people sharing for seven nights on a full-board basis, including return transfers and economy flights. Ocean View Room: from £2,275 per person based on two people sharing for seven nights on a full-board basis, including return transfers and economy flights. Beachfront Junior Suite: from £2,625 per person, based on two people sharing for seven nights on a full-board basis, including return transfers and economy flights. Visit abercrombiekent.co.uk or call 0845 485 1146.

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The friendliness of a small town in one of the most unspoiled islands in the Caribbean: come and experience the vibrant and warm Nevisian hospitality

Welcome to Four SeaSonS reSort neviS

Four Seasons Resort Nevis West Indies | P.O. Box 565, Pinney’s Beach, Charlestown, Nevis West Indies, Caribbean Tel. +1 (869) 469-1111 | Fax. +1 (869) 469-1112


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Travel island HoTels

My own private hideaway

When City life becomes a little too much, escape to the Caribbean islands with Small Luxury Hotels of the World. Powder-white private beaches and crystal clear seas; it’s hard to see where you’d go wrong

1. Sivory Punta Cana, DominiCan rePubliC If a tropical setting with a huge private beach is your idea of heaven then Sivory Punta Cana will be perfect for you. Located on the east coast of the Dominican Republic, you can expect a mix of spectacular food, great wine and first class service to punctuate your stay. It’s easy to lose entire afternoons walking on the beaches and the hotel itself has been designed to feel part of the island’s furniture. Each of the three restaurants focus on food from a different region, with Asian, French, or Mediterranean cuisine on offer. The only problem you’ll have is choosing which one to visit. Each of the 55 suites are filled with surprises too so you’re sure to enjoy your stay.

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slh.com/sivory

2. the inn, engliSh harbour, antigua English Harbour is tucked away at the southern tip of Antigua. The area is rich in naval history and is best known as the home of Nelson’s Dockyard, which displays restored buildings and other artefacts from the British colonial period. The hotel itself is surrounded by stunning scenery and sits on a private beach overlooking the sea, so you’ll never have to learn to share. The spacious rooms are tastefully furnished in natural browns and cool whites. If the sun and sand become too much then the hotel’s spa is a great place to hide away and lose track of the world outside.

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slh.com/englishharbour

3. loDge Kura hulanDa, WeStPunt, Curaçao The Caribbean has some of the most beautiful waters in the world, and those of you who want to dive in and experience them firsthand should visit Lodge Kura Hulanda and Beach Club. The daily excursions to Curaçao’s best dive sites provide some absolutely breathtaking experiences and, when you’re finished exploring the depths, you’ll find it easy to relax in one of the hotel’s three restaurants, or in the slick cocktail bar.

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made for music

Music systems for the 21st century As a family owned British company, we are passionate about sound and design. For over 30 years we have worked within the revered British audio industry, creating high fidelity loudspeakers for music and audio enthusiasts. Seeing a potential gap in the market, we set ourselves the task of developing a series of fine small audio products using our vast experience and understanding of how to create high quality sound.

Since launching our first product in November 2006 our models have quickly become regarded as the finest available, with all gaining critical acclaim for their beautiful design and outstanding sound. Tatler Magazine described our R1 as “Simply the most beautiful radio in the world�, a sentiment with which we wholeheartedly agree. Most importantly we believe that our products are an investment which you will cherish and enjoy for years to come.

To learn more about us or to request a brochure, please visit our website or call us on 01702 601410 Other finishes also available: Dream white

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Travel New FOresT

Out Of the wOOds

Not unlike its attractive New Forest setting, Lime Wood has countryside charm in spades, says Robin Swithinbank

I

must admIt, if I had a bucketload of cash and a chronic addiction to luxury, one of the things I’d do would be to build a really fancy house in the country, fill it with cool stuff, hire a kick-ass chef and then invite people to come and stay so they could see how well I’d done. I’d put a library in it, loading the shelves with old leather-bound books that I’d never read, and plant a massive cedar tree in the garden. Nothing says you’ve made it quite like a massive cedar tree in your garden. That, at least, is what I’ve decided since spending a couple of nights at Lime Wood, the boutique New Forest hotel that’s fast become the go-to country getaway for well-heeled City folk. Having heard many people gush about it, it seemed only right to whisk the missus off for a 48-hour visit to see what all the fuss is about. As it transpires, it really is jolly good. Opened in 2009 after a £30m, five-year-long overhaul, Lime Wood is a Regency manor house restored and extended brilliantly by Ben Pentreath’s Working Group design practice. Additions to the main house were designed by Charles Morris, designer of the Orchard Room at Highgrove in Gloucestershire, with interiors from David Collins, who has left his stamp on the likes of Claridge’s and The Wolseley. The whole caboodle is part of the Lime Wood Group, chaired by Robin Hutson, who cofounded Hotel du Vin in the 1990s. On arrival we were given a guided tour of the hotel by Katie, the charming reservations manager, who was flanked by a quiet squaremile.com

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entourage of pretty young women in floaty floral dresses and men in flat caps and plus fours, who parked cars and shifted suitcases with imperceptible efficiency. The staff were personal but polite, and relaxed but dutiful – a good-humoured mix that we rather liked. Our room was in one of Morris’s additions – although when I say room, I mean suite. And when I say suite, I mean two-storey cottage with a vast four-poster bed under a vaulted ceiling, a roll-top bath, not one but two wood

This boutique hotel’s become the go-to country getaway for well-heeled city folk

burners, a secluded balcony overlooking the forest and a spare bedroom for the kids. Who we had deliberately left at home. In the porch, there was a bench with space underneath for Wellington boots (if you leave your Hunters at home, they have spares you can borrow) and a sizeable coat rack, which felt like an invite to move in. There were lots of nice touches: a booze-stocked larder, packets of Sherbet Fountain, a Moleskine notebook and a pair of cashmere socks, and a lanyard with maps detailing local walking routes. It was utterly serene. As we walked in, an iPod docked on a Bose speaker was playing lounge music lazily into the air, reminding us that Lime Wood is young and trendy at heart, even if the long drive up to the house and its Portland stone façade are very old school. Muted tones, velvet and linen soft furnishings and a walk-in monsoon shower took the heart rate below 60bpm. Had we visited in winter, we would have fired up the wood ➤

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IN THE PINK: The Pig hotel in Brockenhurst is a former hunting lodge, which has retained many of the original building’s old fireside charms

➤ burners (you can dial 100 and Katie will send over the hotel’s official firestarter, but there are some jobs that a man just has to do for himself) and ordered crumpets; another time, perhaps. Lime Wood has two restaurants, the Dining Room and the Scullery, and a glass-roofed area called the Courtyard where you can bury your nose in a newspaper over a lazy breakfast or afternoon tea. The Dining Room is more formal, and feels like an upmarket Parisian brasserie without the superciliousness, while the Scullery is a more familiar affair. With Bovril tins and a mish-mash of faux-old plates on wall racks, it sails close to the mawkish side of nostalgic, but given that it serves veal chops and bresaola smoked in Lime Wood’s own smokehouse, it gets away with it. Food in both is prepared in chef Luke Holder’s kitchen. He’s formerly of the OXO Tower Restaurant and The Sloane Club – you can choose to take dinner at a table in his working kitchen, where he’ll regale you

If the sauna wasn’t so damned hot, I could have spent all day in there staring at the view 112

The pig If your budget’s tighter, you could do much worse than Lime Wood’s little sister, The Pig, which opened in 2011 and offers rooms from as little as £125. It’s an ex-hunting lodge turned shabbychic hangout for the design-conscious by Robin Hutson’s wife Judy, who has played a blinder. Stripped-back sleepers for floorboards, deliberately mismatched glassware, and pink-shirted, Conversewearing staff give it an edge, but never one that makes you feel like you’ve stumbled into a Shoreditch pop-up. The restaurant is sublime – take a wander around head chef James Golding’s walled kitchen garden and you’ll find out why – and the rooms are filled with the eclectic objets that Hutson acquires in France and from independent sources back home. Two family suites, a room called The Dog House for those who want to bring their pooch, and trips into the forest with in-house forager Garry Eveleigh are three indicators of the incredible thought that’s gone into this place. A new Southampton branch of the hotel has opened, with one in Dorset due in 2013 – hopefully standards will remain high. ■ The Pig, Beaulieu Road, Brockenhurst, Hampshire; 01590 622 354

with tales of his time in Thailand and Dubai. Rumours of Michelin-starred Angela Hartnett joining the team in 2013 are true – as such, the Dining Room’s due a refurb from Chelseabased interior designer Martin Brudnizki. The menus are aimed at the locavore (one who only eats local produce), but not overtly – in fact, they’re better for it. Holcombe Farm milk-fed lamb came roasted and confit and couldn’t spend long enough on my tastebuds, nor could the Holme Farm chateaubriand that we had at the Scullery. Washing the latter down with Argentinian malbec may not have complied with the vibe, but the New Forest’s known for trees, not grapes. Such gluttony requires some form of atonement, which brings me neatly on to Lime Wood’s Herb House Spa. Covering 22,000 square feet, it is enormous. Inside there’s a 16-metre swimming pool, a hydropool, a steam room and a stunning sauna with a floor-toceiling window at one end looking out into the forest. If it wasn’t so damned hot, I could have spent all day in there just staring at the view. There are nine treatment rooms for massages – or, if you must, seaweed wraps – and a ‘workout studio’ where you can subject yourself to some kettlebelling at the start of the day, if you’re into that kind of thing. I had a back, neck and shoulder massage that revealed that I spend too much of my life hunched over a desk typing (ha!). Outside there’s a huge heated pool and rooftop herbary, which in summer is a lavender-covered oasis of calm. It was blissfully quiet – no dive-bombing kids or hen-do gaggles to take the edge off, which I suspect is the norm, given that the hotel only has 29 rooms. It was, frankly, awesome, and I say that as a man who struggles with the concept of ‘going on a spa weekend’. Perhaps it had something to do with the fact that I didn’t see the word ‘wellness’ anywhere. On our reluctant departure from Lime Wood, we tried to find fault with the place. And couldn’t. OK, so the spa lockers have a slightly annoying pin code system that left me separated from my underwear on one occasion, and the bedroom light switches were a complete enigma, but otherwise, everything’s spot on. Whether it was the room-temperature bottle of cabernet sauvignon awaiting us on arrival or the whizzy Suit Mate machine in the spa changing rooms that dries your trunks in 10 seconds, no stone has been left unturned in the pursuit of making life as easy and relaxing as possible. Even if I win the EuroMillions lottery before then, I can’t wait to go back. ■ Rooms at Lime Wood start from £245 per room per

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night. Visit limewood.co.uk or call 023 8028 7177 for details.

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golf THE PlAYER SUPERMAN IN CHECK

PHOTOGRAPH by Ross Kinnaird / Getty Images

The Ryder Cup, with all the attendant pressures of competing for country rather than just oneself, has a habit of making some extraordinarily good golfers look extraordinarily ordinary (take a bow, Tiger Woods and Phil Mickelson), but it also has the ability to bring out the extraordinary from the previously average. Step up Ian James Poulter [pictured left]. I would never consider him ordinary – he’s currently No. 26 in world rankings – but without a major to his name and few wins in really big strokeplay events, he’s been considered by most commentators to have been fighting above his weight since going pro in 1996 with a handicap of four. Not content with selling Mars Bars to hackers at Chesfield Downs Golf Club, Hitchin-born Poulter set about creating his own hype, and more importantly lived up to it. His swing may not purr like Rory’s or his iron play be as graceful as Luke’s, but when it comes to going mano-a-mano in the matchplay format of the game, Poulter suddenly transforms into Teflon Tony. Superman in check trousers and a cardie, if you like. His two biggest wins have come in matchplay events – the Accenture in 2010 and the Volvo in 2011 – so it should come as no surprise that it’s in the pressure-cooker atmosphere of the Ryder Cup that Poulter truly comes alive. After winning the most European points at Celtic Manor and bagging a clean sweep of wins during Europe’s magical come-from-behind victory at Medinah in September, his Ryder Cup record now reads ‘played 15, won 12, lost 3’. His 80% win ratio is the most successful of any player in the history of the event. Poulter – heck, let’s just call him Sir Ian of Woburn – will be 38 when the 40th Ryder Cup gets under way at Gleneagles in 2014. He might not qualify by rights – he’s been a wildcard choice for two of his four appearances – but it would be a brave captain to leave him out of proceedings. And I, for one, would want him on my team, even if he was world No. 126. ■ – Nick Bayly

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Assets

Golf column

spread the wealth With blue-chip sponsors becoming thinner on the ground, Nick Bayly says it’s high time we start making the game’s remuneration policies fairer

A

lthough It mAy have escaped your

PHOTOGRAPH Andy Lyons / Getty Images

attention, PGA Tour player Brandt Snedeker [right] pocketed in the region of $11.5m in September for what effectively amounted to four days’ work when he won the Tour Championship and, by dint, the inflated gravy train that is the FedEx Cup. They say that golf is a rich man’s game. Well, it is if you’re good at it or, conversely, if you want to be the sponsor of a televised tournament. I’ve long since given up being either jealous or disgusted by what top sportsmen earn. I’ve not put in the hours and don’t possess the talent to do what they do. But that doesn’t mean I don’t believe that things have gone offkilter with economic reality. And I’m not alone. Lee Westwood, whose earnings topped £25m this season, surprised many people last year when he said that golfers were paid too much money. But he went on to backtrack by reasoning: “When golfers have a bad day, we don’t get paid anything, but when we have a great day we get paid a lot.” Unlike footballers and their extended contracts, half the players at a golf tournament go home empty-handed and with a fistful of bills to pay, while the other half have earned enough to put down a deposit on their next sports car. It is, literally, rags or riches. The only problem is that the prize money structure is such that of the 30-odd tournaments a year that players take part in, a PGA Tour pro only has to have two, perhaps three, good weeks to make it pay. That’s an awful lot of bad days. While I don’t mind the best players – the ones I get excited about – receiving the spoils, I do object to those at the lower end taking home a cool million without troubling the leaderboards. This is rewarding mediocrity. To combat this malaise, I would suggest a much bigger sliding scale of rewards, with prize funds weighted more heavily in favour of the top five, say, and 12th or 20th placings resulting in dramatic losses of earnings. To ramp up the pressure further, more players should be demoted at the end of each season and more promoted from below, where

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they play for peanuts most weeks. Rather than propping up the journeymen, we need to be encouraging the stars of the future. It’s hard for professionals to accept a prize fund cut, but there should be a better balance between public interest and prizes. Premier League football teams could fill their grounds several times over every week and pay players accordingly, yet viewing figures on BSkyB for the Thursday morning of the Mallorcan Open must be barely into the hundreds, with winners rarely pocketing less than £400,000. There are signs that the gravy train is slowing down, however. The Andalucian Masters was scratched off the European Tour schedule owing to a lack of sponsorship, and others are struggling to find backers. This season, the prize for the Race to Dubai – the European Tour’s season-long money list – was cut from a previous high of $10m to $3.75m, with fewer players qualifying for a share and the overall winner earning less than £650,000. If players can cry and laugh when playing for nothing in the Ryder Cup, there must be a way of making the game more appealing to fans and spectators while also making being a professional golfer more rewarding. ■

the Kit golfing footwear If you’re looking for evidence that golf is marching into the 21st century, you need only to peer down at the feet of the modern-day golf professional. Instead of the flapping tassles and brogue-style wingtips of old, today’s young tour pros, not to mention quite a few of the older generation, can often be seen wearing – gasp – trainers. Since grabbing the headlines when Fred Couples wore a pair of Ecco Street shoes, sans socks, at the 2010 uS masters, sales of trainer-style golf shoes have taken off. the success of the Danish footwear manufacturer’s Street range [pictured below] has been followed by a softly treading stampede of other footwear brands, with Nike, Adidas, Puma, Ashworth and even diehard traditionalists FootJoy launching more casual golf shoes. the office-tocourse-to-clubhouse convenience of these shoes has obvious appeal, but you might want to save your slippers for overseas golfing jaunts and those sunny summer days, which are only ever just around the corner. ■ ecco.com; footjoy.co.uk

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Assets

THE CoursE Omega SeamaSter aqua terra 41.50mm Co-axial £3,490

You may be forgiven for thinking that a Seamaster would be more at home in the ocean than on the fairway. But if you’ve ever been rain-swept across Celtic manor’s montgomerie Course, you’ll understand why a watch that can handle more than just a bit of wet weather is a useful thing to own. reflecting the shift from sea to land, the Seamaster’s name and dial numbers are a verdant grass green. With the aqua terra (literally ‘Water earth’), omega is aiming to secure its connection with the golf world. Beyond its aesthetics, the omega’s movement is a big hitter, too. the calibre 8500 was a game changer when it was introduced back in 2007 and still delivers an outstanding chronometric performance that will be maintained over a longer period of time than those with more traditional Swiss lever escapements. talk about putting-edge technology. ■ omegawatches.com

gleneagles’ Pga Centenary COurse

PhotograPh BY © Ian haddow

Jack Nicklaus has ramped up the challenge of Gleneagles’ PGA Centenary Course in readiness for the 2014 Ryder Cup, so bag yourself a tee time before the hoards arrive. While the Centenary is clearly not the best course in Scotland, and, in fact, is probably not even the best course at Gleneagles (that honour goes to the Kings), it offers all that is required of an event which sees 40,000-plus spectators trample all over it for three days, and that, dear reader, is space – and lots of it. The last time the Ryder Cup was held in Scotland it was staged at Muirfield in 1973, but those were the days when one man and his dog went to watch the GB&I team take another battering from the flashing blades of Nicklaus, Palmer and Trevino. But the arrival of our continental cousins to the fray in 1981 changed the Ryder Cup map completely. These days the Ryder Cup is an altogether hotter ticket, and the commercial demands are such that simply to have a classic course is not enough. As with the OIympics, the organisers

demand on-course five-star hotels, easy access to airports, and, specifically for golf, a good WiFi connection for Ian Poulter’s Twitter feed. So the countdown has well and truly started at Gleneagles, which, in golfing terms, is the Rio to Medinah’s London. The Ryder Cup committee drafted in local architect David McLay Kidd to spruce up Jack Nicklaus’s original design, and the finished article, which was unveiled earlier this summer, has all the ingredients for a classic matchplay battle. The tactical design of the finishing holes to both nines has been significantly ramped up, with the par-five 18th now offering a sizeable risk/reward element for those going for the green, which is now surrounded by amphitheatre-style mounding to improve the viewing experience. More than 50,000 tonnes of earth has been moved, and 1,000 tonnes of sand poured into the bunkers. And they’ve installed a SubAir system below each green, which is, in effect, an electric blanket to keep the frost at bay. It’s the only one of its kind in the UK, and cost a packet, but when you’ve got the world watching on, you can’t wait around for a thaw. ■ – Nick Bayly For bookings at Gleneagles, call 0800 389 3737.

THE WaTCH 120

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property

The pad . 129 Luxury London Living . 131

Home guard . 129 ProPertY: Duplex penthouse in No.1 West India Quay; ÂŁ1.8m; Knight Frank Canary Wharf 020 7512 9966


Belgrave Belgrave Court, Court, Canary Canary Wharf Wharf E14 E14 Two bedroom apartment in Canary Riverside Belgrave Court, Canary Wharf E14 Two bedroom apartment in Canary Riverside

Situated on the first floor is this immaculately presented two bedroom apartment which Situated the first floor is to this immaculately presented two bedroom apartment which has beenon interior designed a very high standard and offers wonderful River views. 2 has been interior designed to a very high standard and offers wonderful River parking, views. 2 bedrooms, 2 bathrooms, reception room, kitchen, 24 hour concierge, private bedrooms, 2 bathrooms, reception room, kitchen, 24ft) hour concierge, private parking, leisure facilities. Approximately 130.8 sq m (1,408 sq Two apartment sq inmCanary Riverside leisure bedroom facilities. Approximately 130.8 (1,408 sq ft) Situated on £1,250,000 the first floor is this immaculately presented two bedroom apartment which Guide price Guide price £1,250,000 has been interior designed to a very high standard and offers wonderful River views. 2 bedrooms, 2 bathrooms, reception room, kitchen, 24 hour concierge, private parking, (CNW120136) leisure facilities. Approximately 130.8 sq m (1,408 sq ft) (CNW120136)

KnightFrank.co.uk/Canary-Wharf KnightFrank.co.uk/Canary-Wharf cwharf@knightfrank.com cwharf@knightfrank.com 020 3641 5976 020 3641 5976     KnightFrank.co.uk/Canary-Wharf cwharf@knightfrank.com 020 3641 5976      

 


West India Quay, Canary Wharf E14 West India Quay, Canary Wharf E14 Superb two bedroom apartment on the 16th floor Superb twopresented bedroom apartment the from 16thhaving floor This beautifully two bedroom apartmenton benefits had an

extensive refurbishment throughout and offers stunning views across the London This beautifully presented two bedroom apartment from having24 had an skyline. 2 bedrooms, 2 bathrooms, reception room,benefits open plan kitchen, hour extensive throughout and offerssqstunning concierge,refurbishment private parking. Approximately 126 m (1,360views sq ft)across the London skyline. 2 bedrooms, 2 bathrooms, reception room, open plan kitchen, 24 hour concierge, private parking. Approximately 126 sq m (1,360 sq ft) Guide price £800,000

West India Quay, Canary Wharf E14 Guide price £800,000 (CNW120125)

Superb two bedroom apartment on the 16th floor (CNW120125)

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Elegant Grade II listed double fronted stucco house Cavendish Avenue, NW8 The house expands to approximately 3,872 sq ft (359 sq m) of well planned accommodation, including 3 elegant reception rooms, a spacious multipurpose media room, a gym with state-of-the-art steam room, 6 bedrooms (including a staff suite), a Bulthaup kitchen, a utility room, and a separate WC. Cavendish Avenue is located moments from St. John’s Wood High Street and the open spaces of Regent’s Park Entrance Hall • 2 Interconnecting Reception Rooms • TV Room/Study • Conservatory • Kitchen/Breakfast Room • Utility Room • Guest Cloakroom • 4 Bedrooms (All En-Suite) • Large Studio Room • Patio Garden • Off Street Parking

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Joint Sole Agent

Price on Application


A unique stucco gothic detached house St John’s Wood, NW8 This beautifully refurbished and well-proportioned detached period house is situated in a quiet cul-de-sac on Clifton Hill with private garden, garage and one off street parking space. Further benefits include a multi level secluded rear garden, with access from both the kitchen/breakfast room and main reception room. The house offers excellent family accommodation with the majority of the principal entertaining rooms at raised ground floor level. Master bedroom with en suite dressing area and bathroom • Five further bedrooms (two with en suite facilities) • Bathroom • Shower room • Double reception room Breakfast room/kitchen • Cinema/leisure room • Play room • Study area • Utility room • Guest WC • Plant room • Two patios • Terrace Front and rear gardens Garage and off street parking for one car

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ProPerty the Pad

The quay To your hearT Want a contemporary home? After views you could charge for? And enough space to swing a pride of lions in? Matt huckle has found the pad for you. And, if you work in the Wharf, it’s only walking distance from the office

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f you can’t get enough of the clean lines and modern buildings of Canary Wharf, then No 1 West India Quay is going to be right up your street. Home to the Marriot hotel, this striking building is situated at the northern boundary of the Wharf and puts you within easy walking distance of the shops, bars, restaurants and, if you work in the area, your office. (Sorry for reminding you. Still, think of the money you’ll save on Tube tickets.) The duplex apartments in the building are gorgeous but the one on sale at the moment has a little bit extra to entice you. As well as the luxurious interior design, this prodigious

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While the downstairs exudes Manhattan style, the upstairs floor offers more homely charms squaremile.com

apartment has had extensive refurbishment work done on it, the floor layout has been altered to incorporate an upstairs reception area more than 32ft long, making it unique among the other apartments. Clocking in at a cool £1.8m, you’ll find your money well spent. The downstairs living space stretches 52ft and comprises an open-plan kitchen, dining area and lounge. Upstairs you’ll find a spacious reception space, a 31x19 ft area split between open-plan TV lounge, and potential study area. The master bedroom also wows at 28ft long, and even the guest room boasts a walk in wardrobe. You’ll be hard pressed to deny your in-laws a visit now. The floors have their own separate feel: the downstairs’ dark solid oak flooring evokes the style of a plush Manhattan pad, while the upstairs’ wall-to-wall carpets offer a cosy area to curl up and forget the world (and work). You’ll find all the latest mod-cons, too, and it’s easy to lose hours playing with the integrated Creston audio/visual package and range-topping Lutron lighting system.

Of course, a stylishly furnished apartment would feel a little bit flat if the views outside weren’t up to par. You’ll be pleased to hear that they don’t disappoint. In fact, they’re rather impressive. You’ll be able to see 260 degrees from Greenwich Maritime museum around to the Olympic park including landmark sights such as Tower Bridge, Big Ben, London Eye and The Shard. It’s also perfect for spying on your neighbours. Not that we condone that. ■ For more information and to book a viewing, call Knight Frank Canary Wharf on 020 7512 9966.

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Luxury London Living Mews

Have I got mews for you Offering the ultimate in modern luxury, these three very different mews homes are some of the best on the market right now. oLivia MordsLey takes us on a tour and finds out just what makes them so special...

Eaton MEws north, BElgravia There’s a good reason that all of London’s old mews are located in the Capital’s finest neighbourhoods. When they were used for their original purpose – housing horses – only the wealthiest families could afford the extra real estate. Of course, as city space became more in demand – and horses considerably less so – the humble mews began to be converted into residences. Now some of London’s finest luxury homes are to be found down these diminutive cobbled streets. Situated in one of Belgravia’s most soughtafter addresses – Eaton Mews – this opulent mews house boasts living space galore, and it’s not afraid to show it. From the outset, a stunning black-and-white facade hints at its

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equally stylish interiors. While it may be what’s on the inside that counts, this Belgravian beauty knows that making an effort on the outside really can’t hurt either. As you pass through the front doors – which doesn’t feel unlike gaining entrance to an exclusive members’ club – the ground floor unfolds into an open-plan living area and large kitchen, perfect for entertaining or just relaxing after a long day at work. High ceilings throughout and a first-floor drawing room and dining area that stretch across the entire width of the property beautifully complement the light-filled interiors. There are three bedrooms and three sumptuous shower rooms, too. Although it may be difficult to tear yourself away from the luxurious space, the property

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It may be what’s on the inside that counts but making an effort on the outside can’t hurt either does boast a great location within easy walking distance of Hyde Park and Sloane Square station, for speedy access into the city on the District and Circle lines, while a part of the ground floor also has the option to be used as a private garage. Or stable, perhaps? £6.95m, 020 7499 7722, beauchamp.co.uk ➤

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ProPerty

In glass houses: (from top to bottom) the graceful exterior and high windows of the ultra-modern Page Mews development; the elegant finishes and light-filled interiors of Page Mews; outside the unique and stylish family home on Radnor Mews

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The floors are so polished it’s tempting to bring out your inner child and slide across them in your socks ➤ Page Mews, Battersea Boasting the ultimate in hi-tech, contemporary living, the nine houses in this private-gated, peaceful mews are so stylish that even the designers themselves can feel pretty smug about how well the final product has turned out. Located close to Battersea Park and Queenstown Road stations, these homes are a technophile’s dream with future-proof wiring, integrated sound systems and smart lighting. There are even electric curtains and blinds for the living rooms and bedrooms – ideal for when you can’t be bothered to get up off the sofa as the night draws in. Wide entrance halls, soaring ceilings and high windows and doors help flood the properties with natural light, while south-west facing landscaped gardens, roof terraces and

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balconies make for easy outdoor living. Did we mention that the entire house can be retro-fitted to the full AV specification and controlled via an iPad? It has to be downloaded to be believed. From £1.77m; 0845 230 4480; visionhomes.co.uk

radnor Mews, Hyde Park From the all-white, fully-fitted kitchen with breakfast bar to the huge first-floor reception room, one thing’s for sure – no stone has been left unturned in ensuring that this property provides the ultimate in sleek and stylish living. Situated close to the green spaces of Hyde Park, boasting tranquillity both inside and out, this home is spread over four floors and has a unique layout with striking architectural flourishes, such as sloping ceilings and contrasting designs from one room to the next. The laminate floors of the expansive dining area-cum-kitchen (there are two kitchens, in fact) are so shiny and polished that it’s tempting to forget all the grown-up stuff and just slide across the floor in socks. Indeed, if you throw in the four spacious bedrooms, study and luxuriously appointed bathrooms, this is the perfect family home and one you'll look forward to coming back to every day. £2.75m, 020 7262 2030; kayandco.com ■

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Fly Solo with Goodwood 07581 222222 07506 222222 07426 222222 07925 222222 07400 222222 07572 001 001 07532 002 002 07445 002 002 07432 003 003 07432 004 004 07432 005 005 07415 005 005 07432 007 007 07427 007 007 07550 007 007 07988 007 007 07445 007 007 07432 008 008 07572 009 009 07432 009 009 07447 000 777 07447 001 001 07447 002 002 07445 003 003 07445 006 006 07445 009 009

07552 15 15 15 07818 75 75 75 07771 10 10 10 07779 20 20 20 07966 40 40 40 07771 42 42 42 07771 49 49 49 07577 21 21 21 07577 24 24 24 07428 38 38 38 07528 75 75 75 07445 21 21 21 07447 24 24 24 07447 41 41 41 07447 43 43 43 07447 45 45 45 07588 999000 07588 999222 07588 999333 07588 999444 07588 999555 07577 444666 07577 444999 07577 222555 07577 222666 07577 222000 07577 444000 07446 111333 07445 000444

07445 000666 07446 444111 07446 444999 07446 777888 07446 888666 07588 999993 07588 999994 0744 6000006 0744 7000007 0744 7000008 07426 36 36 36 07577 36 36 36 07528 800800 07446 800800 07447 500600 07446 500600 07447 02 02 02 07445 07 07 07 07447 08 08 08 07447 09 09 09 07577 363 363 07577 373 373 07577 22 33 44 07577 33 44 55 07577 118 118 07577 234 234 07577 456 456 07577 321321

07445 100200 07445 400500 07447 400500 07577 400400

0744 5004000 0744 5008000 0744 5000700 0744 6002000 0744 6003000 0744 6005000 0744 6007000 0744 6000200 0744 6000500 0744 6000700 0744 6000900 0744 7002000 0744 7003000 0744 7004000 0744 7005000 0744 7008000 0744 7009000 0744 7000300 0744 7000400 0744 7000500 0744 7000600 0744 7000700 0744 7000900

Goodwood Aerodrome, located at the famous motor circuit just 60 miles from London, is steeped in history and home to a fleet of modern luxury light aircraft.The picturesque South Downs setting is the perfect place from which to embark on your flying adventures.

Our Go Solo course allows you to achieve your first independent flight in as little as 15 hours and is the first major milestone to becoming a pilot. For more information call 01243 755066 or visit www.goodwood.com

+ To advertise in this section please call Jack or Sophie on 020 7819 9999


EssEntials

Lente DeSiGnS protective covers for ipad and Kindle British based design house with a mission to bring unique style to modern technology. lente Designs covers are made from top quality fabrics and are thoughtfully designed to offer maximum style and protection. From only £14.99.

Open LifeStyLe StOre We provide premium men’s fashion, tailored casuals and lifestyle goods sourced worldwide with an eye for detail. the majority of the brands at Open are not available anywhere else in the UK and we take great pride in bringing new, interesting brands to our customers.

t: 01296 631090 E: sales@lentedesigns.com W: www.lentedesigns.com

t: 0113 243 4099 E: info@openlifestylestore.com W: www.openlifestylestore.com

HOLy GHOSt CLOtHinG

fUrnitUre By JULeS StUrGeSS

the new underground label of the moment.

Our bespoke, limited edition carbon fibre furniture pushes the structural properties of this technologically exciting material to the extreme, creating beautiful and unlikely forms. Hand made in the UK in limited numbers - just a handful per design - exclusivity is guaranteed by our customisation service, making every piece unique.

a masculine collection made up of edgy graphics and strong signature styles. includes core polo shirts and staple scoop neck t-shirts, re-worked basic sweaters and quality tailored blazer jackets. achieve an effortless but thought-out look with Holy Ghost menswear. prices from £25 - £125. t: 01642 788 850 E: info@holyghostclothing.co.uk W: www.holyghostclothing.co.uk

A fACeLift fOr yOUr GArAGe You have the home, you have the cars, but is your garage a let-down? Your garage can complement your home and cars and provide a quiet retreat for hobbies or DiY. We can supply and fit a range of cabinets, workbenches, wall panels and flooring to suit your lifestyle. t: 0800 206 2303 E: sales@garagepride.co.uk W: www.GaragePride.co.uk

niKOODryCLeAnerS.COM your premium Online Dry Cleaning Services save time and hassle with just a few clicks. We pick up, clean and return your garment.

t: +44 (0) 1223 967067 E: info@julessturgess.com W: www.julessturgess.com

perSOnAL StyLiSt fOr free Our stylists shop for you for free. Complete a quick online survey, your stylist will hand-pick your clothes and ship them to your door. try on the clothes at home, we collect what you don’t like. £25 off first order with promo code: SC0608. t: 020 3002 0573 E: support@smithfieldcase.com W: www.smithfieldcase.com

LiMiteD eDitiOn BOx LOUnGer Following overwhelming demand since its launch at london’s Bt artbox Exhibition, award-winning designer Benjamin shine has released his iconic Box lounger in a series of limited edition colourways. Featuring chesterfield-style leather upholstery and illuminated telephone signs, Box lounger packs a patriotic punch in its fusion of British heritage design. E: studio@benjaminshine.com W: www.benjaminshine.com

www.nikoodrycleaners.com

StUArt LAMpreLL BeSpOKe MS_Purple_Tag [23/03].indd 1

23/03/2010 10:20

Designed by Mark Marengo 31 savile Row. Suits £395 - Two for £695 Shirts £65 - Two for £99 Ties £35 - Two for £49 square Mile Offer - Free Delivery - code UKFREE t: 0207 193 9055 W: www.mark-stephen.com

+ to advertise in this section please call Jack or Sophie on 020 7819 9999

Bespoke tailoring by stuart lamprell is a truly personal craft, for men who value truly individual style. it is stuart himself who advises and consults on the initial choice of cloth and style, who then cuts, assembles, and fits the finished product himself, offering a level of one-on-one service, flexibility and a painstaking attention to detail that larger enterprises just can’t match. t: 0207 383 5588 E: stuart@stuartlamprell.co.uk W: www.stuartlamprell.co.uk

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squaremile

TIME TAKES WING

The new C10 Aviator Mk I from London based luxury watchmaker, Christopher Ward, takes its design cues from the B-Uhren watches designed for RAF and Luftwaffe pilots of World War II. Those courageous airmen would have no problem recognising its raised nickel triangular reference point at 12 o’clock, nor the large diamond-shaped crown for ease of use through flying gloves. T: 0844 975 1515 W: www.christopherward.co.uk

PoPKAKERY For the perfect kakes on the go! They bake with love those yummy flavoured ‘kake’ balls coated in exquisite chocolate and eye-catching decorations.

Four original colours - Jet, Argent, Graphite and Alpine. Or try the R1-S in Red, Yellow, Blue and Orange. Fitted with Gillette Mach3 blade. £35 at Harrods, Heal’s, Selfridges 4th floor and other leading stores. To place your order visit: W: www.bolinwebb.com T: 07500 828162

SKULTUNA 1607 Established in the year 1607 and purveyors to H.M. The King of Sweden. Left: Skultuna 1697 - Price: £50

No messy hands…guaranteed!

View the latest collections of cuff links and men’s accessories and shop now at:

T: 0800 1455515 E: order@popkakery.com W: popkakery.com

Quote SM11 to get a 10% discount

NIco DIDoNNA Priding himself on creating exquisitely designed, aesthetically pleasing, one of a kind and versatile garments for both men and women, Nico Didonna continues to showcase collections of premium quality for the fashion conscious, luxury aficionados who value innovation and exclusivity.

W: www.skultuna.com T: +46 21 783 00

SoAPY ALLSoRTS A neat gift to give anyone this Christmas. Two large hand soaps that smell just like they should, strawberry, banana and liqourice! Inspired novel stocking filler by Sudzfun. Paraben free and kind to sensitive skin. £7.50

T: 0207 287 0207 E: info@nicodidonna.com W: www.nicodidonna.com

T: 02392 631786 W: www.sudzfun.co.uk

GARDEN SPAcES

cHRISTMAS PARTY, WEDDING oR EVENT??

Garden Spaces provide stunning, contemporary garden buildings and offer premium quality, bespoke solutions without the hefty price tag. Planning permission is generally not required and rooms can be built in weeks. The buildings can be fitted with everything from broadband and cinema systems to bathroom and toilet facilities. T: 0845 387 9 387 E: info@gardenspaces.co.uk W: www.gardenspaces.co.uk

GENIYUS cLoTHES SToRE An Independent Men’s Fashion Store offering a wide selection of classic labels such as Folk and Levis Vintage, with an emphasis on quality and tradition. Our Weymouth Store is known for its high level of service and we are now bringing the quality and all the same loved brands online.

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No other razor looks so good.

Ten everyday flavours with a bespoke service. Nationwide delivery.

Barbour Akenside Jacket £109.00

THE R1 FRoM BoLIN WEBB

T: 01305 777418 E: customerservice@geniyus.com W: www.geniyus.com

Use Picture Box London. You organise the event. We will inject the fun! Our portable HD photo/video booths are a unique way to capture the spirit of any party, wedding, promotion or event. It can also be utilised as the best marketing tool ever created! T: 07801 838 315 or 07946 781 512 E: info@pictureboxlondon.com

G DESSERTS G Desserts hand-makes a range of cupcakes lovingly decorated and neatly packaged in jars. Unlike regular cupcakes the jars seal in moisture preventing the cakes from drying out, which means they last longer and travel well. For more information on G Desserts Cupcake in a JarTM contact us on: T: 020 8689 2736 E: info@gdesserts.com W: www.gdesserts.com


London’s Premier Christmas tree delivery service Have the best tree you’ve ever seen delivered and decorated by us. Our trees, wreaths and lighting displays are fabulous! Our Service isn’t for everyone – but then you’re not everyone! For a fairytale Christmas, call Real Trees Direct – There’s always a happy ending!

William & George, 10 Kingly Street, London, W1B 5PJ Tel: 020 7734 8816 Email: info@williamandgeorgelondon.co.uk

Tel: 0845 3883431 Email: sales@realtreesdirect.co.uk

www.williamandgeorgelondon.co.uk

www.realtreesdirect.co.uk

nicolas tye architects As award winning architects and designers we aspire to create extraordinary buildings and spaces for our clients, sometimes from the most difficult of design briefs. Central to our philosophy is that good design should reflect the needs of our clients and respond to the surrounding environment. Pushing the boundaries of design we are able to achieve timeless, highly innovative and sustainable projects. We offer a complete design service from initial advice through to the completion of your project. We complete works all over the UK and internationally. Email us your new project enquiry !

www.etonshirts.co.uk 65 kingsway wc2b 6td, london, +44 207 430 1433 selfridges 400 oxford street w1a 1ab, london, +44 207 318 3497

nicolas tye architects t: 01525 406677 e: info@nicolastyearchitects.co.uk w: www.nicolastyearchitects.co.uk + To advertise in this section please call Jack or Sophie on 020 7819 9999


visit: www.gardenspaces.co.uk email: info@gardenspaces.co.uk or call: 0845 387 9 387

Contemporary Garden Buildings

Garden Offices

Home Gyms

Your garden could offer you so much more... Garden Spaces provide stunning, contemporary garden buildings and offer premium quality, bespoke solutions without the hefty price tag. Planning permission is generally not required and rooms can be built in just a few weeks. Our buildings can be fitted with everything from broadband to cinema systems and include wireless lighting control. Enjoy a fully independent room in your garden with a full heating system, bathroom and toilet facilities.

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End Play

—EvEnts—

november CiTY highlighTS Sex on the beach: (clockwise from top left) the square mile Masked ball is back for the forth year running; Indiana Jones’ iconic outfit at the V&a; the Royal exchange; the Grey Goose Winter ball turns up the heat; Leadenhall Market.

Square Mile MoveMber Challenge

greY gooSe WinTer ball

Square Mile MaSkeD ball

The City, November

Battersea Power Station, 10 November

One Mayfair, 15 November

square mile is working with Movember this year and we want the City to show that when it comes to facial hair, no other industry comes close. Dazzle your colleagues and alienate your wife in support of prostate and testicular cancer research. uk.movember.com

The sixth annual Grey Goose Winter Ball is held this November to raise money for the Elton John AIDS Foundation. Food will be by Michelin-starred chef Hélène Darroze, and artists Labrinth and Emeli Sandé will provide entertainment. The theme of the evening is a 1950s C’ote D’Azur summer.

Join us for the square mile Masked Ball 2012. This year, the City’s longest established society ball will be more exciting than ever. We’ve swapped chairs and tables for a dancefloor and stage, and the result will be an unforgettable night jam-packed with entertainment, live music and dancing.

greygoose.com

maskedball2012.com

V&A Museum, 20 October-27 January

FeSTive Week

eXPeriMenTal FooD SoCieTY eXhibiTion

Harry Winston presents Hollywood Costume, an exhibition celebrating costume design as a modern art form and a key component of cinema storytelling. It gathers iconic costumes from more than 100 years of cinema, from the silent era to the digital age.

Leadenhall Market, 12-16 November

Canary Wharf, 16-17 November

Leadenhall Market is hosting a week of events to get you in the festive mood, concluding with a special visit from the new Lord Mayor of London, who will switch on the Leadenhall Market Christmas tree lights.

A must-visit exhibition for all foodies. Featuring 7,500 sq ft of culinary art, the Experimental Food Society Spectacular offers guests a feast for the senses.

vam.ac.uk

leadenhallmarket.co.uk

lorD MaYor’S ShoW

The glorY oF golD

Royal Exchange, 27 November

The City, 10 November

Royal Exchange, 14-23 November

The Lord Mayor’s Show is one of the longest established and best known annual events in the City and dates back to 1535. Bring family and friends to experience the pageantry and then wind down with lunch or some welldeserved retail therapy.

The specialist antique jewellery retailer Kojis and the Italian jewellery brand Vendorafa are collaborating to stage a pre-Christmas selling exhibition of fine, yellow gold jewellery with pieces on show dating from ancient times to the present day.

lordmayorsshow.org

theroyalexchange.com

The Royal Exchange and square mile are teaming up to host a fabulous evening of sparkling entertainment, glamorous shopping and first-class gastronomy. Come along to this complimentary evening, where stores will be staying open late. For tickets: loren@squaremile.com ■ For more events, visit squaremile.com

v&a’S hollYWooD CoSTuMe eXhibiTion

canarywharf.com

Square Mile XMaS ShoPPing evening

PhotograPh by (Leadenhall) Marc Pinter

squaremile.com

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End notEs

—noticeboard—

CIty Golf a

event

citygolfclubs.com

We invited readers to join us at City Golf Club for an evening of drinks and entertainment to mark the launch of the new golf section in square mile. The unique venue combines the best indoor golf facilities in London with a variety of sports simulators including golf,

racing, shooting and tennis. The virtual golf simulator has over 50 real world courses for you to cut your teeth on. The evening was hosted by square mile contributor and editor of Golf News, Nick Bayly. To see the new golf section in all its glory head to p117.

—noticeboard—

BloomBerG square mIle relay

squaremilesport.com

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ended up taking home the gold with a time of 51min 12secs, beating second place Legal & General by just 44 seconds. The Barclays team was presented with a £5,000 check to donate to their designated charity, the Multiple Sclerosis Resource Centre.

PHOTOGRAPHS by (City Golf) Chris O’Donovan; (Bloomberg) John Marsh and Lee Mills

Once again the Bloomberg Square Mile Relay turned the City into a race track, this time bringing an even meaner course to the table, designed to separate the wheat from the chaff. More than 1,000 runners took part but it was the 2010 champions, Barclays, who

See more photoS on squaremile.com

squaremile.com


Discover the world of Edwin Jagger Award winning Sheffield manufacturer Affordable luxury shaving accessories

Visit www.edwinjagger.co.uk to purchase Membership Card and receive 15% discount for one year or www.theenglishshavingcompany.com for Free Samples with every order


End PLAY

—Mackney’s—

master class Words

Richard Mackney

how To: be us presidenT The basics You have to be 35 years old, native born, a US resident for at least 14 years, and a man. However, opportunities for women have improved since the Clinton administration. Amendment 19a of the US Constitution states that women are now allowed an Oval Office position, as long as that position is ‘under the desk on all-fours and willing to take care of any subsequent dry cleaning’.

The elecTion process The president is indirectly elected to a fouryear term under stringent conditions of the Electoral College. Yet on occasion, the constitutional regulations and the vetting of candidates have failed, the most famous example being Willard Finnemore. Serving two terms from 1786, he was known for his unusual stature, shrill laugh and habit of excreting wherever he was standing. It wasn’t until 1794 that staff realised that Finnemore was actually a horse.

The professional edge Recent history has shown that a high number of US presidents have been exposed as philanderers, frauds and liars. It is no coincidence that of the 44 men who have served as president, 24 were lawyers.

family values The most essential element in your bid for the presidency is a thing called a ‘wife’. The ideal wife of a presidential hopeful will have clean teeth, thick hair, a lean body and

146

an inexhaustible capacity for waving. Very occasionally – as in the case of President George Bush Snr – you might be able to get away with a wife who looks like the man on the Quaker Oats box. But you must be a devout heterosexual. The only homosexual allowed in US government is Camp David.

personal failings Personal limitations and foibles need not hold you back from the presidency. President Reagan was renowned for his labelling, using small sticky labels and notes along the lines of ‘chair’, ‘desk’, ‘pen’, ‘Thatcher’, and ‘wife’. And President Kennedy was famous for his seemingly tireless libido. As well as flings and dalliances with many of the female White House staff, on one especially fertile Wednesday, he even managed to impregnate a standard lamp and a nest of tables.

a personal manTra All serious candidates need a slogan or media mantra, ideally something short and memorable. Typical examples from recent history that would come to represent terms in office include: ‘Read my lips: no new taxes’ (President Bush Snr), ‘Yes we can’ (President Obama), and ‘Just tell them you spilt some porridge’ (President Clinton).

The Tv campaign American election campaign ads are essential, but expensive. They are also becoming increasingly graphic, with far more creative freedom than would ever be allowed in the UK. Start with lots of slowmotion shots of you smiling, pointing and laughing, ideally while shaking hands with old people or chopping wood. A gentle but emotive music backdrop builds as the screen is filled with captions listing your opponent’s shortcomings in a plaintive voiceover. The ad usually culminates in a Photoshopped image of your opponent with horns and blood all over his chin, hitting a disabled person with a hammer while simultaneuosly pushing a small child into a volcano.

••

As well as flings with most female staff, he even managed to impregnate a nest of tables Keep iT simple The most important campaign advice is to keep it simple. Many US presidents in recent history were unable to perform even basic tasks. Jimmy Carter was famous for being unable to chew gum while he walked. George W Bush was renowned for being unable to think while he thought. Richard Nixon was incapable of opening his mouth and telling the truth at the same time. And Ronald Reagan could only make foreign policy decisions after lengthy consultation with his collection of imaginary hamsters. ■ Read more from Richard Mackney’s bitter, twisted and oddly disturbed mind on squaremile.com

+ SubScribe Because we’re nice, generous people at square mile – the sort that you’d trust to help your gran across the road – we’ll let you get your dirty mitts on square mile every month, straight to your desk. you have to work in the city or canary Wharf, because we only make it for you exquisite people, and nobody else. all you need to do to in order to receive the square mile print edition for free is register at: squaremile.com/magazine-subscribe. Or, if you’d prefer to read it with added wizzes and interactive bangs, you can grab it on your iPad for free from the iTunes store.

squaremile.com


STUART LUKE GATHERER 8 November - 1 December 2012

VIEW THE EXHIBITION ONLINE AT WWW.ALBEMARLEGALLERY.COM This exhibition by Stuart Luke Gatherer could be broadly divided into three groups. Firstly, there is a group of paintings that have been inspired by Chaucer’s “The Canterbury Tales”. Secondly, a group of tenebrous interiors and thirdly, a group of nude figures. As the paintings were conceived and executed in no particular order, there is an inevitable cross-pollination between the groups. Timeless and still relevant, Chaucer’s classic book is the inspiration for a group of paintings that respond to the themes in the individual pilgrim’s tales- some paintings are quite literal, others more removed. Gatherer offers no further narrative to these paintings as he didn’t want to simply illustrate the tales, but rather to use them as a jumping off point for a collection of autonomous works. Ostensibly, the second group could be described as paintings about nothing at all- a meditation on loneliness and isolation. However, the dispossessed and disaffected caught on the edge of light and dark - the penumbra- are only bit players to the light itself; natural and artificial, warm and cold, reflected and cast. It is the light that both reveals and conceals that heightens the sense of disquietude. The third group of paintings are studies of the human form. These paintings show Gatherer’s continuing obsession with paint as substance. Each piece is built up in numerous layers, thick and thin, transparent and opaque- every layer building on the previous and informing the next. Rooted in the ancestral tradition of the life class, the study of the figure is the foundation of his work as a figurative painter.

The Friar’s Tale oil on canvas 89 x 124 cm (35 x 49 in)


Square Mile - 73 - City of Gold  

Square Mile - 73 - City of Gold - 300 years at the centre of the bullion trade

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