A look back at the most popular stories on eprivateclient this week...
Monday
Monday saw the publication of the 2023 eprivateclient 50 Most Influential – the definitive rankings of the key players in the UK and global offshore private client practitioner sector. The 50 individuals listed were selected by PAM Insight's judges with achievements, promotions and progress potential candidates made in the past 12 months considered alongside their reputations. See who was listed here.
Former UK Chancellor Nadhim Zahawi agreed to pay millions in tax over his use of an offshore company to hold shares in the polling firm YouGov, according to reports. The shares were held through Balshore Investments - a Gibraltar-registered family trust. The stake in YouGov was worth more than £20 million and was sold by 2018, with the proceeds transferred to an unknown recipient
Tuesday
International law firm Charles Russell Speechlys promoted four of its lawyers to ‘of counsel’ in Paris. One of those was Sarah Bergougnoux in its private client team. Meanwhile, Victoria La Scola in the litigation team, Guillaume Ferrand in the corporate team and Aubéri Foy in the employment team were also promoted.
The UK is back in recession and late last year inflation figures hit a 40-year high. Whilst the financial situation will raise challenges for many, particular difficulties can arise for divorcing couples. With this in mind, Jo Carr-West, a partner at Hunters Law, explored the impact the cost of living crisis has on divorce.
Wednesday
City law firm Wedlake Bell appointed partners Tim Maxwell and Rudy Capildeo to lead its art & luxury practice. They were joined by senior associate Petra Warrington, associate Tamara Bell and solicitor Jil Birnbaum. All hires joined from rival law firm, Charles Russell Speechlys. The team advises clients including artists, private collectors and international art galleries through to collector car dealers, fine wine and yacht financiers and private equity backed musical instrument funds.
Audit, tax, advisory and risk firm Crowe hired Peter Fairchild as a partner in its private client team. He is a specialist adviser to sports and entertainment clients. In his new role, Mr Fairchild will help develop and grow its private client practice, supporting clients on personal tax matters and providing advice that brings long term benefit.
Thursday
Former eprivateclient Top 35 Under 35 Katrina Williams was appointed as a client service director for Accuro based in Jersey. Ms Williams joined from fiduciary services provider R&H Jersey after 15 years. She has a specific focus on UK resident and non-domiciliary planning and estate structuring for international families with US connections.
Saffery Champness Registered Fiduciaries in Guernsey and Switzerland made three new hires. This included Dominic Lawton-Smith as trust director, Sally Hunt as a senior trust officer and Sophie Walden as a compliance manager. In addition, Saffery Champness also announced the promotions of seven individuals across the firm. In Guernsey, Claire Tersigni and Simon Ricketts were both promoted to trust manager, Lily Simmons and Denise Brehaut to senior trust officer and Caitlin Le Gallez to people & culture officer.
Friday
Former Top 35 Under 35 Richard Simm became head of tax for single family office Brevan Howard. Mr Simm is based in London for this new role. He joined from big four accountancy firm PwC after over 13 years most recently director of its private client tax team. He also led PwC UK's inbound Australian private business team.
Offshore law firm Mourant voluntarily published its first global gender pay gap report. For transparency, the report included separate partner pay gap calculations, as well as an overall pay gap for employees and partners combined, in addition to reporting by business area. Data from the report showed women's pay in the firm was 17.5 percent lower than men, according to the mean gender pay gap.