A look back at the most read stories this week on eprivateclient…
Monday
Fiduciary and family office services provider Highvern made six new promotions. Ellen Hibbs was made an associate director of the firm. eprivateclient 2021 Channel Islands Top 35 Under 35 - Jack Barlow, and Stefan Le Marquand - were promoted to trust manager.
Candidates were beginning to emerge to take over from Boris Johnson as leader of the Conservative Party and Prime Minister. Given the current economic backdrop, it was unsurprising financial policy quickly became one of the key talking points.
Tuesday
The UK's Crown Prosecution Service (CPS) authorised the charging of Bernie Ecclestone with fraud by false representation. Following investigation, HMRC confirmed that the former Forula ONe boss had more than £400 million offshore assets concealed.
UK partnership, employment and professional regulatory law firm, CM Murray, expanded its practice with the appointment of professional practices specialist, Corinne Staves. Ms Staves joined the firm from Maurice Turnor Gardner, where she was head of its professional practices team. In addition, Sarah Chilton, head of CM Murray’s partnership disputes & investigations practice, was also appointed to senior partner.
Wednesday
The High Court of England and Wales granted an order permitting service of court proceedings via the transfer of a token on the blockchain. The grant was permitted in the case of D’Aloia vs Binance Holdings & Others.
The UK’s National Crime Agency (NCA) and Office of Financial Sanctions Implementation (OFSI) issued a red alert to the private sector on financial sanctions evasion typologies by Russian elites and enablers. The red alert was issued by the Joint Money Laundering Intelligence Taskforce (JMLIT) and the Sanctions Facilitators Cell, with representation from law enforcement, private industry, regulators and OFSI.
Thursday
Research from tax refund firm RIFT Tax Refunds revealed the estimated the wealth and income tax paid by some of the UK’s most wealthy celebrities. Harry Potter author JK Rowling topped the list for wealth in 2021, with an estimated £850 million. Having earnt an estimated £50 million last year, she would have paid just under £23.5 million in income tax to HMRC.
UK law firm Russell-Cooke promoted four senior associates to partner, bringing the total number of partners to 65. Carla Whalen from the charity and social business team, Jemma Pollock in the family team, Thomas Bond in the insolvency and restructuring team, and Suzanne Mynors in the private client team were all been made partner.
Friday
Jersey-based independent trust, corporate and fund administration provider VG made five promotions within its private wealth team. Chris Hamon, who joined VG in 2019, was promoted to manager. Before he joined VG, he was senior trust officer for Pentera Trust.
Research by estate and lettings agent Barrows and Forrester revealed the eye-watering sums of interest that homebuyers could be facing, should they buy into the UK government’s latest plans to ‘help homebuyers’ by offering them a 50 year mortgage.