A roundup at the most read stories to feature on eprivateclient this week…
Monday
Nick Warr, law firm Taylor Wessing's head of the firm’s international private wealth sector gorup, spoke to eprivateclient about the firm’s recent “game changing” takeover of a 13 strong private wealth team from Bryan Cave Leighton Paisner (BCLP) - including partners Damian Bloom and Simon Phelps.
UK law firm Michelmores appointed international immigration lawyer Philip Barth and employment lawyer Kate Gardner. Both joined the firm as partners, with Mr Barth leading Michelmores' growing immigration team.
Tuesday
Corporate funds and services provider Zedra acquired Inside Pensions, a Hertfordshire, UK-based independent occupational pension scheme governance support provider. The deal forms part of Zedra’s strategy to diversify its service offering and expand its presence in the pension services space.
Prime French property is tempting global high net worth (HNW) individuals away from London, HNW mortgage broker Enness Global revealed. Data uncovered by the firm found that France currently has a larger level of stock for high-end homebuyers whilst buyer demand across the Channel currently sits at just one percent compared with 12 percent in London.
Wednesday
KPMG UK confirmed that Bill Michael, its chair and senior partner, had resigned and will leave the firm at the end of February following comments he made during a virtual staff meeting. Bina Mehta, senior elected board member, has assumed the role of acting chair, while Mary O’Connor, head of clients and markets, has assumed Mr Michael’s day-to-day executive responsibilities as acting senior partner.
PraxisIFM appointed Stephanie Coxon as a non executive director (NED) and chair of its audit committee. Ms Coxon replaced Iain Stokes, who resigned from the board in December 2020. Her appointment follows the release of PraxisIFM’s interim 2021 financial results, which showed the group was set for growth.
Thursday
Trust and fiduciary services provider Equiom named Melanie Griffiths as its new head of client solutions, private wealth. Prior to joining Equiom, Ms Griffiths spent 15 years at JP Morgan, including 13 years in its private banking division where she advised private clients on investments, credit, tax and estate planning.
Collyer Bristow’s Aidan Grant looked at the plight of US citizens living in the UK who can be simultaneously exposed to UK tax as a UK resident and US tax as a US citizen and how some of the most common pitfalls can be avoided.
Friday
The UK's Upper Tax Tribunal overruled the First-tier Tax Tribunal (FTT) and stated that trust beneficiaries are only entitled to entrepreneurs' relief if they have been a qualifying beneficiary for a full year ending less than three years before the disposal. The case - HMRC vs Quentin Skinner - revolved around three family members whose family business was held in trust for their benefit.
Boutique family law firm Bortoft Bell expanded its offering with the appointment of Catherine Thomas as a consultant. Ms Thomas has more than fifteen years’ experience as a family lawyer and prior to joining Bortoft Bell, was a partner at Dawson Cornwell, having previously worked at Vardags and Ambrose Appelbe.