A look at the most read stories on eprivateclient this week...
Monday
Intertrust Group fully migrated to the CSC brand, following CSC’s acquisition of the group on 7 November 2022. Both companies will now operate under CSC - a provider of global business administration and compliance solutions - to deliver global solutions through more than 8,000 employees, with capabilities across more than 140 jurisdictions.
Fladgate promoted Katya Vagner, Sarah Haile and Nick Wood to partner level, taking the total number of partners at the firm to 95. Ms Vagner, an eprivateclient Top 35 Under 35 in 2019, 2020 and 2021, joined Fladgate in 2020 from PwC and now has over a decade’s experience advising high net worth individuals on how to structure, utilise, secure and pass down their wealth. Ms Haile also joined Fladgate in 2020 from Willowblade Family Office to set up and run Walgate Family Office Services. Mr Wood joined in 2017 and has over a decade of experience working as a legal advisor to clients on commercial real estate transactions.
Tuesday
In JTC's full year 2023 results, the firm's private client services (PCS) division's revenue increased by 48.5 percent to £94.1 million, compared to £63.4 million the year prior. This was accompanied by an increase of 49.2 percent in underlying EBITDA to £34.3 million from £23.0 million in 2022. Net organic revenue growth in the division increased by 12.2 percentage point to 20.9 percent, compared to 2022's 8.7 percent, which JTC attributed to "strong performance" in the Caribbean, US and Jersey. However, profit before tax group-wide dropped by 32.3 percent from £35.9 million in 2022 to £24.3 million. [Read more]
Spencer West appointed Gregory Walsh as a partner in its financial services, private wealth and tax teams. Mr Walsh is the founding partner of Spencer West's Switzerland office and advises private wealth clients including individuals, families and family offices on international tax planning and related matters. He also counsels financial institutions on a range of international tax and wealth management issues, utilising his experience in assisting clients in navigating global tax initiatives and their effect on wealth management and financial services.
Wednesday
London law firm Edwin Coe became a certified B corporation (B Corp). The firm began the process in 2021 and worked towards meeting B Corp's standards of social and environmental impact (the B Lab Standards). This is a process that aims to demonstrate performance, accountability and transparency covering B Lab’s five impact area pillars of community, customers, environment, governance and workers.
Offshore law firm Appleby made nine senior promotions across its Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Isle of Man and Jersey offices. Keira Gore and Sam Riihiluoma have both been promoted to partner. Ms Gore is part of the dispute resolution department in the Isle of Man. Mr Riihiluoma is also part of the dispute resolution department where he regularly advises and represents liquidators in winding up proceedings of Bermuda companies for liquidation as well as restructuring purposes. [Read more]
Thursday
London firm Forsters promoted four senior associates to new roles with effect from 1 April 2024, including two former eprivateclient Top 35 Under 35s. The promotions include private client senior associate Alfred Liu to partner, commercial real estate senior associates Joanna Brown and Andrew McEwan to counsel and rural land and business senior associate Victoria Salter-Galbraith to counsel. 2020 eprivateclient Top 35 Under 35 Mr Liu joined Forsters in 2017 from Gowling WLG. 2021 eprivateclient Top 35 Under 35 Ms Salter-Galbraith joined Forsters in 2018 from Bircham Dyson Bell. Ms Brown joined Forsters in 2020 as part of a team from Orrick. Mr McEwan trained at Forsters before qualifying into the commercial real estate team in 2014.
Brothers who tried to steal £1 million in film tax fraud were jailed for a total of 14 years. Craig Rees, 50, and his 52-year-old brother Carl submitted fraudulent Film Tax Relief (FTR) and VAT claims to HMRC. The pair submitted inflated or completely made-up claims to HMRC for three separate films: Whispers, The Eight, and Violence. In passing sentence, Her Honour Judge Heidi Kubik KC said they were convicted with overwhelming evidence which had revealed “staggering and audacious dishonesty."
Friday
Charles Russell Speechlys promoted Ed Birrell and Usman Khan to partner. Mr Birrell, a member of the firm's UK private wealth disputes department, joined the firm in 2017 from Mourant Ozannes and was named an eprivateclient Top 35 Under 35 in 2020. He advises UK and international clients on domestic and multi-jurisdictional private wealth and trust disputes, specialising in complex trust disputes with an international element or corporate asset base. Mr Khan, in the firm's UK real estate division, joined the firm in 2016 from Lee Bolton Monier-Williams. He has experience guiding clients through major property acquisitions, developments, and investment sales and regularly advises on property financing, sales at auction and more general landlord and tenant matters.
City law firm Wedlake Bell added art and luxury lawyer Petra Warrington to its partnership. Ms Warrington, a senior lawyer in the art and luxury group, has contentious, advisory and transactional experience in the art, cultural property and luxury markets, acting on behalf of private clients, art businesses and institutions. Her non-contentious practice involves advising clients on buying, selling and lending art and luxury assets, drafting commercial agreements and terms and conditions of business.