eprivateclient

The week on eprivateclient: Harbottle & Lewis, KPMG, Mishcon de Reya and more...

News Team, 05/06/2020

A look at the top stories on eprivateclient this week…

Monday

Private equity group Warburg Pincus revived the merger of wealth managers Tilney and Smith & Williamson, giving the deal a capital injection that will reduce the combined group’s debt. The new capital is an attempt to assuage regulator concern with the firms saying that the revised transaction structure “will result in a significant reduction in external debt for the combined group, lower ongoing financing costs and an improved regulatory capital position.”

Global investor services group IQ-EQ launched a dedicated, family office services line to clients. The new offering is designed to support the cross-border and increasingly complex requirements placed on family offices by their ultra-high-net-worth (UHNW) families to protect and grow their private capital.

Tuesday

Law firm Harbottle & Lewis promoted Kostyantyn Lobov (intellectual property, advertising and regulatory), who joined its partnership from 1 June 2020. The firm also promoted six associates to the position of senior associate. These are Kat Hardy-King (corporate), Tom Macleod (corporate), Guy Mawson (family), Sam Purkiss (sport), Sarah Verrecchia (employment) and Lizzie Williams (commercial litigation).

Forbes published its 2020 rankings for the world's highest-paid athletes with Roger Federer claiming top spot this year. The Swiss tennis veteran earned US$106.3 million dollars in the last year with $100 million made from endorsements and the rest from tournament winnings.

Wednesday

Former eprivateclient Top 35 Under 35 Alice Killingbeck joined KPMG UK as a director, private client legal services. Ms Killlingbeck – named a Top 35 Under 35 in 2013, 2016 and 2017 – moved to KPMG from PwC where she was a private client solicitor, having joined the rival Big Four firm in 2015.

Alice Killingbeck, KPMG

The High Court in London found that the defendant seller of one of the world’s most expensive cars, a $44 million Ferrari 250 GTO Series 1 coupé, was acting in breach of contract in failing to deliver the GTO’s original gearbox to the claimant buyers.

Thursday

UK law firm Mishcon de Reya announced that 16 individuals - with five from the private client team among them - will join its senior team as part of its latest promotions round. Two people will join the partnership with a further 14 rising to the role of legal director.

London tax and advisory firm Blick Rothenberg said that with the numbers of those out of work growing by the day and many of them young people, a new government task force should be set up as a matter of urgency.

Friday

Buckinghamshire, UK, based charity, GTC, was removed from the register of charities, and its sole trustee has been disqualified from charity trusteeship after it was found that around £240,000 was stolen by the trustee. The UK charity regulator had launched a probe into GTC in December 2018 over concerns about the charity’s governance and financial management.

UK law firm Moore Barlow appointed five new female partners - including one from private client and one from family - and announced the progression of several existing partners within the firm’s equity structure.

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