A look back at the most popular stories on eprivateclient this week...
Tuesday
2023 eprivateclient 50 Most Influential Richard Jordan joined international law firm Trowers & Hamlins as a partner. Mr Jordan – who has over 25 years’ experience in the private wealth sector – has joined the firm from Gateley where he was a partner for the past four years. Prior to joining Gateley, Mr Jordan worked at Irwin Mitchell for four years following its merger with Thomas Eggar.
London law firm Maurice Turnor Gardner (MTG) promoted three senior associates to counsel, including Colin Senez who has also been appointed head of immigration. Mr Senez takes on the head of immigration role from MTG founding partner Ceris Gardner. Further counsel promotions at the firm include Stuart Smyth and Rebecca Waterhouse. Mr Smyth, who qualified in 2015 and joined MTG in 2016, advises on a wide range of private wealth matters. Ms Waterhouse has a wide range of experience in private wealth matters including tax and estate planning, wills and probate matters, and also advises on the establishment and operation of asset holding structures for a wide range of multi-jurisdictional assets.
Wednesday
UK law firm Burges Salmon appointed Jim Aveline as its new private client services head of department. Mr Aveline is taking over the role from John Barnett, who has worked at the firm for around 25 years and will continue in his role as a partner for the firm’s private client services department, with a focus on providing clients with advice in relation to international and tax matters.
Big Four professional services firm PwC partnered with Tata Consultancy Services (TCS) to launch Maths4Girls, a volunteering programme that aims to inspire girls in Northern Ireland (NI) to continue the pursuit of maths. The aim of the Maths4Girls programme is to increase engagement and interest levels of girls aged 11-14 in maths in an effort to open up STEM-related careers. An initiative by Founders4Schools (F4S), the program is designed to increase the number of girls taking maths beyond GCSE by connecting them with women professionals who use maths in their careers.
Thursday
International law firm Taylor Wessing promoted private client specialist Ben Lister to partner. Mr Lister – who was named as an eprivateclient Top35 Under 35 in 2016 – has worked at Taylor Wessing since 2009 having trained and qualified at the firm. He was promoted to senior associate in 2016 and specialises in advising ultra-high net worth individuals, families, trustees and family offices on tax, succession planning and wealth structuring. Alongside Mr Lister, the firm promoted to partner a further 13 across its service lines in the UK and Germany.
With the coronation of King Charles III just two days away, the Royal Family has seen the value of ten of its most famous residences increase by £125 million in the last year, research from estate agent comparison site GetAgent.co.uk has shown. GetAgent analysed the estimated market value of ten royal residences in the Royal Family’s property portfolio and how they have changed in value over the last year. The research revealed that the current combined market value of Buckingham Palace, Hampton Court Palace, the Tower of London, St James’s Palace, Window Castle, Kensington Palace, Clarence House, Sandringham, Holyroodhouse and Balmoral stood at an eye watering £7.5 billion.
Friday
Independent Jersey-based trust company Alex Picot Trust appointed Paul Rondel as a director. Mr Rondel joined Alex Picot Trust from the private wealth division of global investor services group IQ-EQ, where he was a private wealth director for four and a half years, having joined its predecessor First Names Group ten years earlier. He was named as an eprivateclient Top 35 Under 35 in 2013 and 2016.
The economic crisis may accelerate divorces amongst high net worth (HNW) individuals as the economic downturn impacts asset values, according to private client law firm Forsters. Jo Edwards, partner and head of family at Forsters, argued wealthier spouses who own businesses may decide now is an opportune moment to negotiate financial settlements. The law firm advised that if clients' businesses have been negatively impacted, they may be able to agree a settlement with their spouses based on that spouse being bought out of the business at a temporarily lower valuation of their business.