Tuesday
Jersey-based trust and fiduciary services provider Entrust made two promotions, including that of a 2023 eprivateclient Channel Islands NextGen Leader. The firm promoted Abbie Wright to assistant manager and Tom Murray to senior manager. Ms Wright has worked at Entrust for almost two years, having previously held roles at TMF Group from 2020 to 2022 and at Valla between 2016 and 2020. Mr Murray – who was a 2023 NextGen Leader as well as an eprivateclient Channel Islands Top 35 Under 35 in 2021 and 2022 - has been working in the offshore financial services industry for 10 years. He began his career in 2013 at Capita Assets Services (now Apex Sanne) before moving to Kleinwort Hambros in 2019. Mr Murray joined Entrust in June 2021 as a manager and holds a STEP Diploma in International Trust Management as well as an ICSA Diploma in Offshore Financial Administration.
HM Treasury announced that the Spring Budget will take place on 6 March 2024 - less than four months since Chancellor Jeremy Hunt unveiled his latest Autumn Statement which included cuts to National Insurance which come into effect this month. Mr Hunt has commissioned the Office for Budget Responsibility to prepare an economic and fiscal forecast to be presented to Parliament alongside his Spring Budget which is expected to feature tax cuts to either income tax or inheritance tax as the UK readies itself for a General Election within the next 12 months.
Wednesday
Offshore law firm Collas Crill made a number of promotions across its Channel Island and Caribbean offices. In the Channel Islands, Jersey-based Fritha Ford and Lynne Calder have been promoted to partner and in Guernsey, Amy Davies has been promoted to senior associate. In Cayman, Chantelle Day has been promoted to partner and Annalisa Shibli to counsel. In addition, in Jersey Amanda Marett was promoted to business assistant and Luca Angelillo to IT help desk analyst. Based in the UK, Ruth Presland was promoted to legal technology and innovation manager in Collas Crill's knowledge management team. [Read more]
Senior individuals at Big Four advisory firms PwC and EY were named in King Charles III’s 2024 New Year Honours List. Kevin Ellis, PwC UK and Middle East's senior partner has been awarded a CBE for services to economic growth and expanding social mobility. Mr Ellis has been chairman and senior partner of PwC since 2016 and has grown the firm by more than a third to 30,211 people. He joined PwC UK in 1984 in the assurance practice. In 1988 he moved to the firm's business recovery services (BRS) practice. Catriona Campbell, EY’s UK & Ireland chief technology and innovation leader, was also awarded an MBE in the new year’s honours list. Ms Campbell, who has spent more than 20 years working in technology design, R&D and Artificial Intelligence (AI), was recognised for her services to technology and innovation.
Thursday
Former eprivateclient Top 35 Under 35 Ceri Vokes was made joint regional European head of private client & tax at international law firm Withers. Ms Vokes – who was named as a Top 35 Under 35 in 2013 – will lead the team alongside Christopher Groves. She works with UK domiciled and non-UK domiciled high net worth individuals and advises on all aspects of wealth planning, with a particular emphasis on: tax efficient investment structuring, with specialism in insurance bonds, real estate, private equity funds, hedge funds and other alternative investment classes; carried interest and buyout structuring; advice on entrepreneurs' relief planning; and tax issues for sports stars. Ms Vokes has worked at Withers for over 18 years and has been a partner at the firm for over 10 of those. She previously worked at Hogan Lovells and was a trainee solicitor at Linklaters.
FTSE 100 chief executives’ earnings for 2024 surpassed the median UK worker’s full time annual salary today just before 1pm on 4 January, according to estimations from think tank High Pay Centre. The calculations are based on the High Pay Centre’s analysis of the most recent chief executive pay disclosures published in companies’ annual reports, combined with government statistics showing pay levels across the UK economy. As with last year, the executive pay data suggests that chief executives had to wait until the third working day of 2024 to surpass the annual pay of the median worker. Median FTSE 100 CEO pay (excluding pension) currently stands at £3.81 million, 109 times the median full time worker’s pay of £34,963. This represents a 9.5 percent increase on median chief executive pay levels as of March 2023, while the median worker’s pay has increased by six percent. [Read more]
Friday
Kingsley Napley hired Sophie Voelcker as a partner in its private client team. Ms Voelcker will focus on advice to UK resident and/or domiciled clients regarding wealth structuring, estate planning and trusts, with a particular interest in any cross-border taxation and succession issues for clients with international assets or who have relocated abroad. She also has experience providing such advice in the context of matrimonial disputes and pre-nuptial agreements. Ms Voelcker has joined Kingsley Napley from private client boutique New Quadrant Partners where she had been a partner since 2017. She trained at Payne Hicks Beach and is a member of STEP (The Society of Trust & Estate Practitioners).
Fiduciary and family office services provider Highvern marked the start of a New Year with 15 promotions across its international business. In private wealth, Benjamin Lumsdon was promoted to associate director and 2023 eprivateclient Channel Islands NextGen Leader Susan Le Gresley to senior trust manager. Harriet Kinnaird was promoted to trust manager in Jersey, with Tom Breslin also being recognised as a trust manager in Guernsey. Claudia Marques and Matthew Cousins were both promoted to senior trust administrator. Nelson De Castro became a senior manager in client services, supported by Adam Clift who was promoted to senior administrator. Sarah Davies was rewarded with a move to assistant manager in risk and compliance and Christopher Beynon became a senior technology administrator, having been with the firm less than a year. Emma Syvret was promoted to associate director in Jersey’s funds team, with Sophia Noel, Jack Ingle and Heather Channing taking on the role of fund administration manager in the fast-growing department. In Switzerland, Chee Kuen Yip was promoted to associate director, playing a key role in Highvern’s private wealth team in the jurisdiction.