A look back at the most popular stories on eprivateclient this week...
Monday
The number of new non-domiciled (non-dom) taxpayers in the UK dropped 40 percent in the year to April 2021 from 14,200 to 8,500, analysis from multinational law firm Pinsent Masons showed. Sophie Warren, a tax specialist at Pinsent Masons, explained that, while part of the fall in the number of new non-doms can be explained by the pandemic putting foreign nationals off moving to the UK, Brexit may also have deterred some non-doms from coming to the country.
The Burnside Partnership - specialist private client lawyers and tax advisers - appointed Tanya Beattie as a senior associate. In her new role, she will be supporting the growth of the firm's London office. Ms Beattie joined from Martin Tolhurst Solicitors where she was a private client solicitor for nearly four years.
Tuesday
Saffery Champness Registered Fiduciaries completed its acquisition of Cayman Islands-based Holdun Trust following regulatory approval from the Cayman Islands Monetary Authority. The combined business will operate as Saffery Trust. This saw directors Zoe Day and Fiona Pileta of Holdun Trust join Saffery Trust, alongside newly appointed senior business manager Laura Homer. Meanwhile, Andrew Needham was also appointed as an independent director in Cayman.
Rebecca Tester, head of immigration at Gateley Legal took a look at what’s on the horizon in 2023 in terms of developments concerning immigration. It has certainly been an action-packed 12 months in the world of immigration. With several changes in political leadership, UK immigration is set to stay firmly on the political agenda for 2023, she wrote.
Wednesday
Fiduciary and family office services provider Highvern appointed Hugh O'Donnell as a client director of private wealth in its Zurich office. In his new role, Mr O’Donnell will continue to focus on meeting the needs of Middle Eastern, non-resident Indian, British, Swiss and European clients, including international corporations, high net worth and ultra-high net worth individuals.
RBC Wealth Management decided to close its Guernsey office. This followed a review of its business and comes as the firm looks to centralise its activities where possible. It is understood at this stage that clients will be served from a different RBC office. RBC WM expects the full closure and transition of client business and business operations to take up to two years to complete. However, some activities will likely move sooner.
Thursday
The latest results from Henley & Partners’ passport index, based on data from the International Air Transport Association (IATA), revealed the world’s strongest passports according to the number of destinations their holders can access without a prior visa. For the fifth year running, Japan – whose citizens are able to visit 193 out 227 destinations visa-free – topped the index.
Independent corporate, fund and trust administration firm Belasko appointed Edward Green as the chief executive. This appointment saw current chief executive - Paul Lawrence - transition to the newly created position of group managing director. Mr Green joined with 19 years of experience within private equity, private credit and real estate and most recently as partner and head of asset management at AnaCap Financial Partners.
Friday
Independent fiduciary services provider R&H Jersey promoted former eprivateclient Top 35 Under 35 Peter Brooks to partner. It also welcomed the arrival of Zoë Anderson as a new client director in the firm’s private client services team, joining Pete Hall and Scott Pitcher in this newly created role within the private client services team. Named as a UK Top 35 Under 35 in 2020 and as a Channel Islands Top 35 in 2018, 2019 and 2020, Mr Brooks joined R&H Jersey in 2016 to lead the firm’s investment manager review team in Jersey and was appointed a director of R&H Trust Co (Jersey) in 2020. He joined the PAM Awards judging panel in 2023 as a sub committee member of the total wealth service & private market access UHNW category panel.
Private wealth and corporate services firm Praxis made a number of senior appointments. Fiduciary practitioner Robin Smith was appointed managing director of Praxis in Guernsey, having previously held the role of group finance director of Nerine Group, which was acquired by Praxis in 2018. Meanwhile, David Dorrity and Victoria Sloan were appointed directors in Praxis’ growing pensions and employer solutions division.