A rundown of the most read stories on eprivateclient this week…
Monday
Celebrating International Women's Day, eprivateclient looked at ten women currently making a change in the wealth sector. Among those profiled were Justine Markovitz at Withers, BDO's Catherine Grum and MTG's Clare Maurice.
Intertrust Group in Jersey announced a raft of promotions, including one appointment to director. The firm strengthened its senior team with the promotion of Lyndsey Adams to director in the private wealth team. At the same time, staff across Intertrust Group’s private wealth, private equity, capital markets, corporate services and operations service lines were rewarded with 18 employees being promoted at all levels.
Tuesday
International law firm Withers further strengthened its Asian technology and start-up and Singapore corporate practice with the promotion of technology and venture capital specialist Joel Shen to partner in Singapore amidst growing momentum in fintech and venture capital investments across Southeast Asia.
Offshore law firm Collas Crill completed the first conveyance of part of a tenement in Sark on Friday 5 March, following recent changes to Sark's ancient property laws. The long-awaited Land Reform (Sark) Law, 2019, (Law), came in to force on 1 February 2021 bringing with it sweeping changes to the principles of land ownership in Sark, principles which have been in place for more than 400 years.
Wednesday
Trust firm Fairway Group appointed Ian Henderson as non-executive chair to augment its senior management team. The appointment was made as the firm seeks to build on its Jersey presence and position it for further growth. Louise Bracken-Smith will continue as chief executive whilst Alistair Rothwell will step down from his role as chair but will remain involved as Fairway continues to build, both in Jersey and internationally.
Beth Hampson, commercial director at workspace provider The Argyll Club, explained that her firm has seen swathes of wealth management firms refusing to believe that a presence in London isn’t required post-Covid and continue to commit to central bases.
Thursday
A new edition of the Tax Network's biennial Corporate Tax Haven Index ranked three British Overseas Territories (BOTs) as the "world's greatest enablers of corporate tax abuse." The index grades each country’s tax and legal system with a “haven score” out of 100 where a zero represents no scope for corporate tax abuse and a 100 is unrestrained scope for corporate tax abuse.
International family office services provider Stonehage Fleming made a series of appointments across its family office, treasury and corporate services divisions in Jersey. The eight new hires are in the firm’s family office, treasury and corporate services teams and are all based in Stonehage Fleming’s Jersey office and have joined the firm with immediate effect.
Friday
The boom in garden offices can create tax holidays and headaches when homeowners choose to sell, UK accountancy firm Hillier Hopkins warned. The pandemic has seen a boom in garden offices as office staff and business owners quickly made the transition from a daily commute to working from home. However, the garden office can also come with an unexpected Stamp Duty Land Tax holiday or a Capital Gains headache when a homeowner decides to sell, which estate agents often overlook.
Private jet demand is up 70 percent since the third quarter 2020. Fiduciary services provider Zedra and London-based private jet firm FlyEliteJets said that registration services for private jets and helicopters are buoyant.