A look back at the most read stories on eprivateclient this week…
Monday
UK law firm Burges Salmon appointed ten new partners across ear-marked growth areas including corporate, dispute resolution, private wealth, construction & engineering and projects. Among those promoted was Richard Handel, who specialises in advising high net worth and ultra-high net worth individuals on divorce and family related matters.
TMF Group, which looks after 8,000 clients in more than 85 jurisdictions, announced its decision to stop services to all Russian clients but will maintain offices in Russia “helping our North American, European and Asian clients operate there and will continue to maintain services to them.”
Tuesday
Despite its reputation for being male dominated, the private wealth industry contains many women in leadership positions and driving change, making it hard to select just ten for a list of those shaping the industry.
The Big Four accountancy firms – Deloitte, PwC, EY and KPMG – all announced that they will be cutting ties with Russia and Belarus following the outbreak of war with Ukraine.
Wednesday
London law firm Howard Kennedy hired James Meakin as partner and head of tax. Mr Meakin will focus on the tax aspects of corporate and real estate transactions, including M&A, group reorganisations, venture capital, joint ventures and private equity, from both a domestic and cross-border perspective.
Three men were sentenced to 15 years in jail following an HMRC investigation into a £6.1 million money laundering scheme. The scam unravelled when Manzoor Mohammed, 39, of Hounslow, was caught with £32,000 in cash in the Paddington area by Metropolitan Police officers on 18 October 2014.
Thursday
Global offshore law firm Harneys announced that partner Rachel Graham has been appointed managing partner of the firm’s London office. Ms Graham joined Harneys in 2007 and heads the firm’s BVI corporate transactional practice in the EMEA region.
A 2,500-year-old statue that was smuggled into the UK and seized by HMRC has been returned to the Libyan government. The marble funerary statue, which dates from 630BC, was shipped to the UK in 2011 using false documents describing the priceless artifact as a “stone decoration from Turkey.”
Friday
Fiduciary services provider Zedra added to its US offering with the acquisition of administrative and accounting firm Axelia Partners. Axelia Partners has been privately owned by Alexandra and Philippe Suhas since 2013 and is headquartered in Boston (Massachusetts) with offices in New York.
Chelsea FC owner Roman Abramovich has seen his UK assets frozen, a prohibition on transactions with UK individuals and businesses, and a travel ban and transport sanctions imposed, following a move by Foreign Secretary Liz Truss.