A look at the most read stories on eprivateclient this week....
Monday
London law firm Payne Hicks Beach added art and cultural property specialist, Till Vere-Hodge, to its practice as a partner in the firm's private client team. Mr Vere-Hodge joined the firm from Constantine Cannon and is experienced advising on all aspects of art and cultural property law for international private collectors, art dealers and auction houses, galleries and museums, as well as art investors and advisers in relation to both, contentious and non-contentious matters.
From 1 June to the end of August, Big Four firm PwC’s UK staff will be able to condense their working week to finish at lunchtime on Fridays. So-called summer working hours were piloted by the firm in July and August 2021 as part of its hybrid working policy. The approach is being extended this year to include the month of June.
Tuesday
New research from global law firm Taylor Wessing, and exclusively revealed by eprivateclient, showed a “clear sense of responsibility from world’s wealthy to power the next economy”. 81 percent of ultra high net worth (UHNW) individuals surveyed by the firm believe they have a responsibility to use their wealth to solve some of the world's biggest issues. The international study – World Shaping Wealth: The impact of affluence on the next economy – examined the significant shift in the role of private capital in the next economy.
A new US private client focused, UK-based law firm launched in London. Led by founding partners Kristin Konschnik and Chris McLemore, McLemore Konschnik LLP is a London-based boutique law firm of US lawyers specialising in tax, trust and estate planning advice for US citizens and green card holders and their businesses, whether based in the UK or internationally. The firm also advises non-Americans with US assets and business operations.
Wednesday
Tax and advisory firm Blick Rothenberg appointed Ed Rieu a partner in US/UK private client team as well as Paul Cooper as a partner in financial services and Jackie Oakes as a partner in audit assurance and advisory. Mr Rieu joined Blick Rothenberg from Sopher + Co where he spent eight years building a US/UK high net worth/entrepreneur advisory and compliance practice.
UK law firm Harbottle & Lewis advised David Beckham on his strategic partnership with Authentic Brands Group (ABG). ABG is the owner of a portfolio of global media, entertainment and lifestyle brands, as part of which ABG will co-own and manage Mr Beckham’s global brand and business. In connection with the partnership, Mr Beckham has also become a shareholder in ABG.
Thursday
International law firm Stephenson Harwood appointed Omar El Arioun as a partner in its Paris office. Mr El Arioun has over 10 years of experience advising public and private companies, investment and management companies, banks, and individuals. He previously worked at Clifford Chance where he spent over ten years. He advises high wealth individuals on their personal tax issues, and has experience in tax audits, negotiations with the tax authorities, and tax litigations.
Operating income has increased by 9.3 percent in Q1 at Tilney Smith & Williamson. The UK wealth management and advisory firm firm attributed this to increased assets under management year-on-year, as well as “excellent” performance in the professional services business.
Friday
James Heathcote – an eprivateclient Top 35 Under 35 in 2017 - launched London-based Sanctoras, which advises wealthy individuals, entrepreneurs, internationally-mobile families on all matters of UK personal tax. The firm advises clients on a number of different issues including residence and domicile, UK and non-UK trusts, inheritance tax and family succession, pre-business sale structuring, ongoing structuring of family wealth and divorce.
Family offices have work to do to adapt to changes in social, economic, regulatory, and technical changes, according to new research conducted by EY. The research - The Single Family Office Study - examined the views of over 250 single family offices (SFOs) across 12 countries, including the challenges and opportunities they are prioritising as these changes occur and revealed that SFOs are facing increasing pressure to improve performance beyond financial measures.