A look back at the most read stories this week on eprivateclient…
Monday
The UK government planned to introduce new measures that will prevent Russians from accessing UK trusts services, having previously announced a ban on exports, including management consulting, accounting, and public relations in May. The UK also announced more sanctions targeting Putin’s inner circle, following a similar round of sanctions in May.
Waterland Private Equity announced plans to invest in Cooper Parry LLP, an East Midland firm of over 475 accountants and business advisers. Post-deal, the 42 strong partner group will all remain with incentive plans established to further increase the partnership size over the course of the deal with Waterland. Ade Cheatham will continue as Cooper Parry’s chief executive o propel the business forward alongside the full existing leadership team.
Tuesday
Global fiduciary services provider JTC partnered with international law firm Charles Russell Speechlys as it aimed to support and enhance the latter's governance offering. JTC is a provider of fund, corporate, and private client services. Charles Russel Speechlys is an international law firm based in London with offices across the UK, Europe Asia, and the Middle East.
International law firm Withers promoted seven lawyers to partner from across its private client, business and dispute resolution teams, with effect from 1 July 2022. The new partner appointees were placed across the US and Europe, including five in the firm’s London office.
Wednesday
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) blocked the Delaware-based Heritage Trust belonging to Russian oligarch Suleiman Abusaidovich Kerimov. The block ensured that the $1 billion of assets held in the trust remain inaccessible to Mr Kerimov.
Financial services provider, Crestbridge, made 58 promotions across the firm. Several of those promoted are now at senior level.
Thursday
International law firm Withers added to its corporate and commercial services for private capital, entrepreneurs and founders through the arrival of partners Philip Watkins and Victoria Rodley in London. The pair joined the firm from Brown Rudnick.
Digital assets are now owned by some of the world's wealthiest individuals and families. While the jury is still out in some jurisdictions in relation to the legal and tax status of these assets, holding them through corporate vehicles or trust structures is obviously going to be an attractive choice for high-net-worth individuals.
Friday
eprivateclient revealed a full list of the winners, finalists, and commendations from the second annual eprivateclient Excellence Awards, presented last night (07 July 2022) at a black tie gathering at The Langham in London attended by more than 180 guests. eprivateclient congratulated the companies listed, and thanked all those that took time to submit an entry.
Last night (July 07 2022) saw the second – and first in person - eprivateclient Excellence Awards take place at gala ceremony at The Langham Hotel in London. The Awards were focused exclusively on recognising the outstanding achievements of eprivateclient’s top-ranked firms across the UK and offshore legal, tax, fiduciary and advisory professions over the past calendar year. For the 2022 Awards, 28 finalists made the cut from the firms that started the entry process across 11 categories.