interview: eric barnett - deloitte · pdf fileregis bergonzi, lawyer, monaco tell us about the...

Citywealthmag.com Citywealth magazine, December 2016 1

Citywealthmag.com: For Ultra High Net Worth Individuals, Their Advisers and Wealth Managers

Edition 180December 2016

Awards

CitywealthFuture LeadersAwards

Country Feature

Mainland Chinese gravitate planning to Singapore

Business or Pleasure

Champneys Tring

Trump Turnberry

Interview

Regis BergonziavocatMonaco

Eric BarnettCEO, Kleinwort Hambros

Interview:


Citywealth is published byJones Publishing Ltd

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In this issue

Interview: Eric Barnett, CEO, Kleinwort Hambros

Interview: Regis Bergonzi, lawyer, Monaco

Country Feature: Chinese move to Singapore

Future Leaders Awards

News

Business or Pleasure:Detox your body and mindat Champneys Tring

Business or Pleasure:Trump Turnberry temptsyou to tea or to tee off

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Letter from the EditorIn the latest issue of Citywealth, we feature Régis Bergonzi, a Monegasque lawyer, who talks about his work with UHNW clients and his burgeoning divorce practice. We also speak with Eric Barnett, CEO of the newly formed Kleinwort Hambros, who talks about the merger.

Meanwhile, Claire Coe Smith investigates the private wealth sector in Singapore which is benefiting from mainland Chinese moving their assets there. The reason? Hong Kong is seen to be under the increasing glare of the Chinese government.

Finally, we treat you to a review of two great festive getaways, Scottish luxury golf resort Trump Turnberry, and Champneys Tring which offers relaxation and detox treatments, perhaps much needed during and after the Christmas break.


Et voila Kleinwort Hambros!

By Marcela Kunova

Eric Barnett, CEO, Kleinwort Hambros

Interview

In November 2016, SGPB Hambros unveiled Kleinwort Hambros, the new brand name of the combined businesses of Kleinwort Benson (KB) and SGPB Hambros (Hambros). Marcela Kunova spoke with Eric Barnett, CEO of both operations, about the new entity.


across the UK, just like we did in France where we are present in roughly every major town.

What about your international business?

In terms of geography, KB in the UK is primarily a domestic business. SGPB Hambros is international; we are obviously present in the French market, but also in Eastern Europe, the Middle East and South Asia. However, when it comes to Russia, London is already a very important market for the Russians, so there is overlap.

What trends do you see in private banking?

Clients are more conscious of capital markets. Over the past years, we’ve seen our clients diversifying their wealth into alternative investments, such as real estate and private equity, while historically we didn’t have so much work in these areas. We are torn between being risk-averse and suffering from low yields and no interest rates, so we have been forced to step up our services.

Does Brexit present any business opportunities?

We need to remain optimistic. In our sector, there are examples of independent jurisdictions that benefit from being safe havens like Switzerland. The UK as an independent jurisdiction outside the EU could have the opportunity to position itself similarly. Either way, the UK will remain a major financial centre in various areas, including wealth management.

Interview

“Over the past years, we’ve seen our clients diversifying their wealth into alternative investments, such as real estate and private equity, while historically we didn’t have so much work in these areas.”

Eric Barnett,CEO,Kleinwort Hambros

What challenges do you face?

Legal mergers are complicated, plus SGPB Hambros was already comprised of three or four companies, so this was not one legal merger. This month, our trusts will merge in the UK and the Channel Islands and then the banks will be merged in the first half of 2017. It’s a long process.

How will UHNW clients benefit from the merger?

Both businesses have some niche areas that we can now combine in one package. For example, Kleinwort Benson has a small M&A team, which we don’t have in Hambros, while Hambros has a much wider product range, including more interesting things such as yacht financing. We will end up as a full-service bank offering everything from cheque books to luxury asset management. Finally, Kleinwort Benson has a long heritage as a private client business so they wanted to leverage that reputation within the private client area, rather than remain in their traditional investment banking space.

What future do you see trust services?

On the trust side, in the UK and the Channel Islands especially, KB and Hambros have a substantial offering so we see a strong future. Our key priorities are delivering fiduciary services for large families and charities with compliance and all the current international regulatory requirements.

And your digital strategy?

We see the future of private banking as equal parts of digital and physical interaction with the client. As of now, most private clients still want to talk to people and we always need to find a way to balance both approaches. KB is an interesting example of digital innovation. They were founded in the 18th century, so it’s not a kind of bank you would think of as naturally cutting edge in tech. However, what I have found is that the trust their clients have in the KB brand makes them more open to digital banking, simply because there is long term relationship.

And the regions?

We have a reputation of longevity in the regions, unlike many London banks that open their offices and then leave after a couple of years. We are looking to develop

Interview


Close Brothers Asset Management is a trading name of Close Asset Management Limited (Registered number: 01644127) and Close Asset Management (UK) Limited (Registered number: 02998803). Both companies are part of Close Brothers Group plc, are registered in England and Wales and are authorised and regulated by the Financial Conduct Authority. Registered office: 10 Crown Place, London EC2A 4FT. VAT registration number: 245 5013 86.© Copyright Close Asset Management Limited 2016.

0207 426 4076 www.closebrothersam.com

The value of investments will go up and down and you may get less than you invested.

Wealth Planning

Financial Services Advisory Discretionary

Management

Our clients are at the centre of the way we interact and manage wealth. Whether you are a private client, charity, trustee or a family office, our discretionary management services are tailored to meet your unique and individual needs. We are stewards of wealth and strive to achieve the highest level of confidence in every aspect of our service.

Discretionary management services in tune with client needs


Regis Bergonzi, lawyer, Monaco

Interview

Russians rushing to divorceRégis Bergonzi, a Monegasque lawyer, talks to Marcela Kunova about his work with UHNW clients and his burgeoning divorce practice.

By Marcela Kunova


Interview

“We are seeing a steep increase in applications for resident permits and the real estate sector is booming as many foreigners want to make Monaco the base for their personal and professional finance.”

Regis Bergonzi,lawyer, Monaco

Tell us about the private client industry trends in Monaco.

Monaco maintains its reputation as a hotspot for UHNW clients despite global market uncertainty. This is mostly down to security, attractive tax environment and good weather but also our affordable high-quality education.

Following Brexit, are UHNWs moving to Monaco?

It’s too soon to tell but we have noticed an uptick in interest from Swiss residents.

Is Monaco still attracting UHNW Russians?

In the past, we’ve only seen the wealthiest tier of Russians settling in Monaco. However this has changed to include the wealthier middle class Russian because they want their children schooled here.

Tell us about transparency in Monaco.

Monaco signed the OECD Convention on Mutual Administrative Assistance in Tax Matters in late 2014 in a bid to fight tax avoidance. The Convention will most probably enter into force in 2018. One of the major changes is that Monaco now requires any bank account holder to also be a resident of the Principality. Non-doms must comply with tax rules in their home jurisdiction.

As a result, we are seeing a steep increase in applications for resident permits and the real estate sector is booming as many foreigners want to make Monaco the base for their personal and professional finance.

Is there still a big sporting community?

Monaco continues to attract sport celebrities notably within the fields of tennis and Formula 1 racing. These include Serbia’s tennis player Novak Djokovic or the Czech Republic’s Petra Kvitova, Tomas Berdych and Lucie Safarova, and Formula 1 drivers Lewis Hamilton and Jenson Button. The local Monaco GP and the yearly Rolex ATP tournament contribute to attracting a number of international sports stars who then fuel Monaco’s jet set scene.

What can you tell us about your clients or their current demands?

Our clients are mostly large companies within the banking and luxury sector, such as Private Bank

Edmond de Rothschild, Monaco Telecom, Louis Vuitton, Christian Dior, International School of Monaco, Swiss Life, BNP, Crédit Agricole, or Compagnie Monegasque de Banque, and a great number of UHNWs.When it comes to my clients, I mostly work on high end divorces but also on real estate transactions and litigations, banking law, commercial litigation and company law.

One particular case I’m involved with at the moment concerns the criminal investigation led by the International Association of Athletics Federations in Paris. I am assisting its Monaco office in investigating the doping and international corruption scandal which has erupted in the athletic world.


partner for Deloitte Southeast Asia, the change recognised the growing importance of wealth management in Singapore and across the region. Tam explains: “The private client segment has always been an important area for us locally and we see a lot of opportunity to come. After

n 2016, the Southeast Asian operation of Big Four accounting firm Deloitte

reorganised its business lines to offer private clients a collegiate group of services under the new name Deloitte Private. Led out of Singapore by Tam Chee Chong, regional managing

an internal assessment, we estimated that forty percent of our revenues in Southeast Asia come from private clients.”

Private wealth in the Asia-Pacific region overtook that of North America for the first-time last year, according to a Cap Gemini Wealth

By Claire Coe Smith

Chinese move to Singapore

Singapore skyline at the Marina.

I

Singapore


“Hong Kong is becoming a bit less attractive to [Chinese] clients, because it is being increasingly seen as under Chinese control rather than an independent financial centre.”

Chris Burton, managing director,Vistra Singapore

Report, with millionaires’ assets in the region up ten percent to $17.4 trillion ($16.6 trillion in the US). For professional services firms, these clients are particularly attractive when compared to corporations. “The audit business is evolving as we see financial reporting, particularly for big listed companies and is getting more and more regulated,” says Tam. “Looking at it from a competition and fees perspective, it is also getting more challenging. In order to remain competitive and profitable, we need to diversify our service offerings and look at new and innovative ways to help our clients make an impact that matters. Private client work is a great opportunity for us to do so.”

More than two-thirds of the population in Singapore is Chinese, and as such the centre remains a major beneficiary of wealth creation from China. The population of HNWIs in China grew another 16 percent in 2015 to reach 1.03 million, with cumulative wealth growing a similar amount to reach $5.3 trillion. Those families are looking to move money out of China, and Singapore is increasingly the centre of choice although recent restrictions in China may make this more challenging.

Chris Burton is managing director of the Singapore operation of Vistra, a fiduciary services business. He says: “Our main growth here comes from China, because where Chinese HNWIs could get very strong returns domestically a few years ago, the economy is now cooling off and so they are looking at international opportunities.”

Pointing to an uptick in work from Taiwan and Thailand also, he adds: “Hong Kong is becoming a bit less attractive to those clients, because

it is being increasingly seen as under Chinese control rather than an independent financial centre, so clients that may have gravitated there in the past now feel a bit more secure in Singapore.”

It is a view shared by many Singapore-based wealth advisors. Valerie Wu is a partner at the law firm Pinsent Masons, specialising in tax and trusts work. She says: “Many Chinese families are putting succession plans in place now, typically including pre- and post-IPO plans, which involves taking the company public and ticking the right boxes in terms of disclosure. We are setting up a lot of private trust companies which are gaining in popularity because they give wealthy individuals a degree of control and allow family members to get involved in the management of the assets.”

She says there are two reasons why so much private client work is currently gravitating towards Singapore: firstly, because trust companies have to be licensed in the jurisdiction, but not in Hong Kong, so it gives clients a level of comfort that they have confidentiality from parties such as the Chinese authorities; and secondly, because of the clarity of the legal framework, with legislation which allows reserved power trusts enacted in 2004 in Singapore, which was a full nine years ahead of Hong Kong.

Also, growing in popularity in Singapore are family offices. Dawn Quek is principal and head of the Singapore wealth management practice at the law firm Baker & McKenzie Wong & Leow, and says: “We are seeing more families setting up family offices in Singapore. That’s been a trend for five or six

Singapore


years now and has increased a lot in the last twelve months. In light of growing tax transparency and perceived reputational issues with offshore jurisdictions, a lot of families that had more informal estate planning structures in places like the British Virgin Islands, have migrated their family offices and assets into Singapore to be more transparent.”

She adds that, alongside families moving structures to Singapore, UHNW clients are also deciding to relocate: “We have seen a trend towards immigration into Singapore,” she says. “We see billionaires moving their residences here because they want to move away from high-tax jurisdictions with aggressive tax authorities. They are paying their taxes but the audits are a hassle, so they want to set up in a friendlier jurisdiction.”

That immigration trend has seen HNWIs moving in from all over Asia Pacific, including Australia and New Zealand, as well as interest from the UK following the vote to leave the European Union, she says.

Fernando Gandioli, a partner at the law firm Withers in Singapore who specialises in US and international tax and estate planning, says he is also seeing US families moving to the jurisdiction. He says: “Historically, many people in Asia viewed the US as a place to have investments or ultimately to put their families in the event that things got tough, whether for safety, education, or for a better life. But Asia has become a lot more stable in the last twenty years, and so a lot of Asian families that had US links are now coming back.” He adds, “The trend is repatriation, and Singapore is a good place to settle,

“After an internal assessment, we estimated that forty percent of our revenues in Southeast Asia come from private clients.”

Tam Chee Chong, regional managing partner,Deloitte Southeast Asia

Singapore


“We see billionaires moving their residences here because they want to move away from high-tax jurisdictions with aggressive tax authorities.”

Dawn Quek, principal and head, Baker & McKenzie.Wong & Leow

with solid education, healthcare and so on. The discussion now thought is whether to hold on to that US nationality.” Other advisers in Singapore report that the bulk of their work is for Chinese families, though they also see assets flowing in from across Southeast Asia, specifically from Indonesia, Thailand, Malaysia and Taiwan. The number of HNWIs in Indonesia has doubled from 24,000 in 2009 to 48,000 in 2014, with wealth of $161 billion, according to CapGemini. Singapore has seen an uptick in business for families based in that market in the last year because of a tax amnesty introduced by Indonesian President Joko Widodo in July, aimed at encouraging wealthy families to repatriate assets back from jurisdictions such as the Cayman Islands or BVI. Set to be one of the most successful programmes of its kind, the move has sparked much private client work from Indonesian families.

The reason: “Singapore is going through something of a transition, driven by the Common Reporting Standard,” says Burton. “People are assessing whether to keep money in Singapore and declare it, or move it back to their home countries and do something with it. Personally, I think there will be a mixed approach; some will repatriate, but others will keep money in Singapore where it’s more secure.”

Also driving new private client work is the introduction of inheritance tax in Thailand, which came into effect at the start of this year. Inheritors with assets worth more than $3 million will pay tax at a rate of five percent for descendants and ten percent for others. In a similar move, the government in China has chosen Shenzhen as the pilot city

to levy its first inheritance tax in the country.

When it comes to work for China’s wealthy, the demand is for advisers not only to assist with structuring and wealth management, but also more sophisticated arrangements for family businesses, such as family governance, philanthropy strategies, and succession planning. Many Chinese businesses are only now shifting from first- to second-generation ownership.

Tam says professional services firms must next turn their attention to that demographic: “Deloitte’s private client services also cater to the needs of the second generation and beyond, recognising that they may face different opportunities and challenges from the generation before,” says Tam. For example, the Deloitte team is currently advising a second-generation private client in his succession transition. We are also helping build up credentials and experience to meet immigration requirements for Singapore, which would normally not be an issue for a first-generation client.

“Most of us in wealth management tend to focus on the first generation, but it is time to expand this focus” says Tam. “Banks are also engaging with the next generation; those in their twenties, or even those still in school because these are the people who are going to inherit the wealth. It is a long-term business.”

For many in Singapore, the private client business feels prosperous and this good fortune is set to increase. It is as though Vaisravana, the Lord of Wealth, is smiling upon Singapore.

Singapore


FutureLeaders

prompt you to post something that you might regret the next day, and do not get into an argument online. And ask yourself the question, is the post something that you could tell your mother? He reminded the audience that whether it’s Twitter, LinkedIn, Facebook or any one of the other 329 social media channels in existence, engagement is more important than the number of followers. He finished his session with a quiz game on a learning platform Kahoot that engaged the audience and the winner was awarded a bottle of champagne.

Then it was the turn of the very charismatic Steven Pearce, MD of SPA who spoke about networking skills and how to get the best out of social gatherings to make lasting and fruitful business connections.

After some drinks and canapes, the guests were ushered back in the room for the announcement of the award winners.

The event was hosted by the hilarious comic rapper Chris Turner, causing a lot of merriment in the room. His incredible talent for improvising raps on the most random topics had everybody in stitches and earned him rapturous applause.

Gold, silver and bronze awards were announced in eighteen categories. The Editor’s Choice Award went to Gemma Willingham, from law firm Baker & McKenzie, while James Sellon from Maseco Private Wealth, scooped the Entrepreneurial Individual of the Year Award.

he inaugural Future Leaders Awards took place on 10 November

2016 at the five-star Grange Holborn Hotel in the City of London. The Future Leaders Awards recognise the excellence of young professionals within the wealth management sector in furthering their career through their ambition, leadership qualities and communication skills.

The winners were announced after an afternoon of lectures where social media and effective communications proficiency were the main topics. Speaker David Gilroy, founder of Conscious Solutions shared his pearls of wisdom. Some of his advice included not to tweet after 6.30 pm when some alcohol intake might

T

Citywealth Future Leaders Awards

2016 Future Leaders Awards winners.


FutureLeaders

BRONZE:Jamie Morrison,HW Fisher

SILVER: Jo Hurley, Deloitte

GOLD: Andrew Dixon,Moore Stephens

Accountant of the Year

Family Lawyer of the Year

Private Banker Investment Manager of the Year - Boutique

Trustee of the Year - Boutique

Trustee of the Year - Institutional

Business Development Initiative of the Year

Private Banker Investment Manager of the Year - Institutional

Catherine Grum,KPMG

Alex Fray,Boston Multi Family Office

Oliver Chew,Stonehage Fleming Wealth Planning

Private Investment/Family Office Individual of the Year

Charlie Sosna,Mishcon de Reya

Lewis Edwards,Bircham Dyson Bell

Lucy Edwards, Penningtons Manches

Lawyer of the Year - Associate

Lawyer of the Year - Partner

Matthew Braithwaite, Bircham Dyson Bell

Thomas Duggins,Charles Russell Speechlys

Basil Dixon, Payne Hicks Beach

Lawyer of the Year IFC - Associate

Henry Wickham, Bedell Cristin

Kerrie Le Tissier,Collas Crill

Fraser Allister, Ogier

Lawyer of the Year IFC - Partner

Kellyann Ozouf, Collas Crill

Nancy Chien, Bedell Cristin

Timothy Burns, Withers

Lawyer of the Year - Regional

Anna Parker, Foot Anstey

Claire Tollefson,Cripps

Edward Porter,Michelmores

Emma Willing, Mishcon de Reya

Jo Carr-West, Hunters Solicitors

Katie O’Callaghan,Boodle Hatfield

Lawyer of the Year - Reputation

Natalie Sherborn, Schillings

Steven Hudson,Harbottle & Lewis

Alicia Mendonca,Farrer & Co

Editor’s Choice award

Gemma Willingham, Baker & McKenzie

Entrepreneurial Individualof the Year

James Sellon, Maseco Private Wealth

Business Services Individual

Chris Macklin, James Hambro & Partners

Naro Zimmerman,Nerine Group

Nicola Mauger,Butterfield Trust

CSR Initiative of the Year

Alexandra Whiston-Dew, Mishcon de Reya

Katie Hawksley,Boodle Hatfield

Pedro Dias Ferreira,Barclays

Outstanding Individual of the Year

Stuart Dowding, First Names Group

Angela Calnan,Collas Crill

Geoffrey Kertesz,Bircham Dyson Bell

Team Initiative of the Year

Close Brothers AM

Deloitte

Cripps

Annabel Watson, C Hoare & Co

Archie MacLellan,Canaccord Genuity

Joshua Oakley, Waverton Investment Management

James von Simson, Tilney

Donna Brehaut, Nerine Trust

Tom Hardman, First Names Group

Frederick Bjorn, Payne Hicks Beach

Michael Bull, Quilter Cheviot

Andrew Walters, Trust Corporation International

Amy Collins,Bedell Trust

Katy-Louise Allen,Cripps

Oksana Torbych,Barclays

Clare Usher-Wilson,Summit Trust International

Elaine Graham,Zedra

Debby Davidson,Equiom

Awards host: Chris Turner.

Future Leaders Awards Winners


Get in touch:

[email protected]

[email protected]

[email protected]

The difference

05172_sanne_A4_PC.indd 1 27/10/2016 11:05


News

News

capabilities, the launch of our new brand is an exciting step in the evolution of our business.”

Old Mutual Wealth Private Client Advisers buys JW Financial Planning

Old Mutual Wealth Private Client Advisers has bought JW Financial Planning, the Cheshire-based advice firm. The acquisition sees two support staff and two advisers join Old Mutual Wealth Private Client Advisers.Launched in 2006, JW Financial has over £100m in assets under advice. The business will form part of Old Mutual Wealth Private Client Adviser’s North-West region, overseen by regional director, Sarah Waring.

SGPB Hambros launches new brand name Kleinwort Hambros

SGPB Hambros has unveiled Kleinwort Hambros, the new brand name of the combined businesses

Hawksford appoints Michel van Leeuwen as new CEO

Michel van Leeuwen brings thirty years of industry experience from leadership roles at Cordium and Microsoft Capital Markets. Philip Taylor, chairman of Hawksford, said: “We are thrilled that a business leader of Michel’s calibre has been appointed to lead Hawksford. His specialist market knowledge and M&A experience will be vital in helping Hawksford to achieve its international ambitions.” Hawksford has also appointed four associate directors: Keith McSorley, Nicky Longmuir, Laura Le Meur and David Hart.

Two board appointments at Collas Crill Trust in Guernsey

Tim Parkes has joined the board of Collas Crill Trust as a non-executive director. His previous experience includes roles at Barclays Private Clients and Barclays Wealth and Investment Management, and Commercial Holdings, part of

Carey Group.James Rouget joins the firm as director of client services. Local to Guernsey, he has worked with RBC, Barings, Rea Brothers/Close Private Bank and, most recently, Lancaster Trustees.

Bedell Trust rebrands as Ocorian

Following the completion of the management buyout in September 2016, Bedell Trust launches their new brand Ocorian. Commenting on the launch, Nick Cawley, CEO, said: “Building upon our strong heritage, reputation and

Tim Parkes and James Rouget, Collas Crill Trust.

From left: Keith McSorley, Nicky Longmuir, Laura Le Meur and David Hart, new ADs at Hawksford.

Michel van Leeuwen, CEO, Hawksford.


News

had become head of Private Client at Speechly Bircham before they

merged with Charles Russell in 2014. Along with Broadberry, Michael Reynolds, trust and probate manager, is also joining the firm.

of Kleinwort Benson and Societe Generale Private Banking Hambros. The launch of Kleinwort Hambros follows the purchase of Kleinwort Benson by SGPB Hambros in June 2016, and its subsequent merger with the bank. Eric Barnett, CEO of Kleinwort Hambros, said: “This is another significant milestone in the history of two well-established names in private banking, which can trace their roots right back to around the beginning of the 1800s.”

New finance director appointed to Coutts board

Mike Regan has been appointed as the new finance director of Coutts and has joined the bank’s board. His previous experience includes working with PwC and

RBS Global Banking and Markets (GBM) where he held a number of leadership roles. Lord Waldegrave of North Hill, Coutts chairman, said: “Mike brings with him extensive experience from a wide number of roles both here in the UK and abroad. I look forward to drawing on that expertise.”

Stewarts Law doubles the size of its divorce team in Leeds

Sarah Whitham and Jenny Bowden join divorce and family team in Stewarts Law’s Leeds office.Adrian Clossick, partner at divorce and family law, comments: “Jenny and Sarah are both exceptional and dynamic young lawyers who will enhance our offering to the high net worth private client community.” The expansion follows Clossick’s promotion to partnership in June 2016, which increased the number of the firm’s family partners to ten across its two UK locations.

New head of Private Client at Edwin Coe

Alison Broadberry has joined Edwin Coe as partner and head of Private Client, taking over from Nick Giles. Broadberry brings with her a wealth of experience gained both in industry and in private practice. She has previously worked with Schroders and St. James’s Place Wealth Management. Later she

Mike Regan, Coutts.

Alison Broadberry, Edwin Coe

From left: Sarah Whitham and Jenny Bowden, Stewarts Law.

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Businessor Pleasure

Manicured gardens at Champneys Tring.

Detox your body and mind at Champneys Tring

or years, a friend of mine was desperately trying to convince her boyfriend

to go on a spa break with her. Unsuccessfully - the very idea of spending a day in a dressing gown in the middle of hen parties

and mum-and-daughter duos was giving him shivers.

Finally, he reluctantly agreed to go to Champneys Tring, the once Rothschild family-owned estate, set in 170 acres of beautiful

Hertfordshire countryside. They were having breakfast together on a sunny morning when he almost choked on his coffee: “is that the Brad Pit?!”

Yes it was. And he wasn’t the only

F

By Marcela Kunova


Businessor Pleasure

famous gent enjoying massages and face masks there - Champneys Tring is one of the few places on earth where you can spot the English and Welsh rugby teams padding around in fluffy white dressing gowns and flip flops. And also Kate Moss. And Victoria Beckham. Tony and Cherie Blair. The list of celebs who elected Champneys Tring their favourite hideaway is long.

The resort recently underwent a £14 million refurbishment and

is now home to a state-of-the-art wellbeing and detox centre. The facilities include sixty-two treatment rooms, a twenty-five-metre swimming pool, indoor and outdoor jacuzzi, Thalassotherapy pool, sauna, steam room and beauty parlours. The sporty will appreciate the possibility to rent a bike, explore one of the eight hiking trails, use the gym, workout studios, and tennis and badminton courts. You will also get plenty of walking done when searching

for these facilities — the spa can be a right labyrinth and it would be easy to get lost in its corridors without help from the lovely staff that are always at hand.

The best way to start your overnight stay is an afternoon tea, served in a conservatory overlooking the manicured gardens. Earlier this year, Champneys Tring launched a new afternoon tea menu in collaboration with last year’s Great British Bake Off winner Nadiya

Detox centre at Champneys Tring.


Hussain, who managed to squeeze in some of her spectacular-looking signature cakes with guests’ health and nutrition in mind. Cutting on fat and sugar and adding wholesome foods, this nutrition-conscious afternoon tea features delicacies like crab and avocado wraps and fresh mango salsa, and raw chocolate aubergine cake.

Another new feature this year is a six-stage detox ritual that can help you fight stress, smooth cellulite or lose weight. You start off with

a not-so-gentle foot soak and cleanse that kicks off the purifying process, after which your therapist whisks you off to the Thalasso pool. Then the relaxing part starts: your whole body gets covered in a seaweed and calcium mask and wrapped in warm towels, and you can rest in a dimly lit room for about twenty minutes. You then wash the mask off with a matching seaweed shower gel and you’re ready to get your spine warmed up by infrared lights in what looks like a cosy wooden cabin, where

you can also change the colour of lights to suit, or change, your mood (chromotherapy). You finish the treatment off by resting on a water bed in a quiet room, sipping on a detoxifying herbal tea. Given the whole treatment takes about two and half hours, it’s is a well-deserved rest. Not only does the detoxprogramme makes you feel rested, it also makes your body feel lighter and refreshed.

For beauty junkies who can’t imagine a spa break without expert

The wellbeing and detox centre is the latest addition to Champneys Tring.

Businessor Pleasure


beauty treatments, there is a range of facials, massages, manis and pedis from Champneys, Carita and Elemis on offer. You can even join a makeup tutorial or learn how to use your favourite beauty products; just keep an eye on the weekly programme and join your chosen class. The experience wouldn’t be complete without a shopping spree in one of the two resort’s beauty shops.

One of the best things about Champneys Tring, however, is

the cuisine. Instagramable buffet breakfasts and lunches consist of healthy, wholesome foods, plenty of vegetables and freshly made juices, as well as some a la carte meals. Evenings are time for fine dining with a glass of wine in an elegant restaurant. The emphasis is on seasonal British produce, most of which is grown in the resort’s own garden. Popular dishes include cod and prawn fish cakes, carrot, cucumber and daikon salad with wasabi dressing and grilled lamb rump steak with Greek salad.

Whether you want to be pampered, get fit, or see a bulked-up rugby player squeezed in a white fluffy dressing gown, Champneys Tring ticks all the boxes. The only danger is that you will not want to leave.

For more information on treatments and bookings, visit:

www.champneys.com/spa-resorts/champneys-tring/

The spa features elegant interiors that create relaxing atmosphere.

Businessor Pleasure

http://www.champneys.com/spa-resorts/champneys-tring/

http://www.champneys.com/spa-resorts/champneys-tring/


Daniel MartineauExecutive Chairman

[email protected]

Stella Mitchell-VoisinManaging Director

[email protected]

Clare Usher-WilsonDirector, Family Office services

[email protected]

Robin Lee-Smithgeneral Counsel

[email protected]

summit trust International sA is an independent trust services group headquartered in geneva, switzerland. Founded in 1999, summit trust is part of sanlam Limited, a leading financial services group in south Africa, listed on the Johannesburg stock Exchange.

summit trust International brings a combination of financial and management stability which enables it to provide continuity in personal relationships and the orderly passing of family wealth for high net worth individuals who require offshore trust and company management services.

summit trust International in switzerland is characterised by specialisation, professionalism and integrity. Because summit trust International is committed to an independent trust administration policy, it is free to work with your existing financial advisers, lawyers, bankers and asset managers, or introduce you to suitable advisers if you do not yet have your preferred team.

the bottom line? Expect to find familiar faces at summit trust International but not familiar solutions. Our people are under no pressure to sell you any particular product, just to provide you with the right service for your needs.

We are not expecting to be the biggest offshore services provider, but we are striving to be the best.

6 Place des Eaux-Vives1207 genevaswitzerland

A member of the sanlam group

tel. +41 (0) 22 707 8399Fax +41 (0) 22 707 8395www.summittrustgroup.com

Swiss Trust Company of the Year 2012


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he recently renovated property Trump Turnberry, which dates back over a

hundred years, has had a £200 million refit including its historical

eighteen-hole golf course.

Over a hundred upgraded guest rooms and four magnificent suites include features like king size

mahogany beds with gold leaf on their bed frames. The second you enter your room you are surrounded by well thought out luxury and style. The bed offers

T

Trump Turnberry, a luxury resort, Scotland.

Trump Turnberry tempts you to tea or to tee offBy Valerie Blondeau


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a comfortable mattress, huge goose-down pillows and duvets. Each room boasts a sixty five inch TV, large marble bathrooms replete with Arran Aromatic soaps and creams made locally in the Isle of Arran to ensure you enjoy a relaxing soak in your tub, or walk-in shower. The rooms are so comfortable it is hard to be up and about for an early morning golf session.

Turnberry Lighthouse is set away from the main hotel, sitting between the 9th and 10th hole of the Championship Alisa golf course which was designed by Mackenzie

& Ebert, a UK based golf architect firm who design courses to blend with their surroundings. The Lighthouse presidential suite has two opulent bedrooms, each with a private bathroom and balcony decorated to the same standard as the main hotel. The Lighthouse suite also offers a private sitting and dining area. This special suite becomes your own personal hideaway with views that are simply breathtaking. It is one of the most special hotel experiences out there. It is also the area which was the birthplace of the tale of Robert the Bruce who was King of Scots.

Bruce led Scotland in the first war of independence against England.

The resort sits twenty minutes from Glasgow Prestwick airport; is an hour from Glasgow International, and an hour and a half from Edinburgh airport. Chauffeur service is available or helicopter charter to arrive in style. An American helicopter: a Sikorsky S-76 seating up to six people plus luggage will fly you along the scenic countryside and rugged coastline, offering a memorable welcome. Trump Turnberry Golf resort also has access to golf at Machrihanish

The Norman Suite.


Dunes and Trump International Golf Links Aberdeen.

Trump Turnberry welcome guests to the hotel with a seven-foot long and by six-foot wide Swarovski crystal chandelier atop the sweeping staircase. Named the Ivanka chandelier, after Donald Trump’s daughter, it features over a thousand crystals. It was custom made, taking six months to complete, and it reportedly took a team over sixteen hours to hang above their grand staircase. There is certainly no shortage of chandeliers in the property, in fact

you are spoilt everywhere you go. Liberace, the king of bling or glitter man, would have found his home in Trump Turnberry.

The Grand Ballroom is a new addition to the old building, reminiscent of Versailles with deep plush carpets and gold leaf décor. Its aim it to attract weddings, conferences, and large scale events.

The spa at Turnberry offers ESPA treatments which are ideal for those returning after a long challenging day on the golf course or for those

who want to destress from a busy life. It includes a twenty-metre pool and extensive work out room with all the latest equipment.

The Golf Academy, overseen by the director of golf Richard Hall, is housed in a building which contains a history of golf, great restaurant and bar, as well as a golf and gift shop. The Golf Academy offers expert PGA professional tuition to all golfers that can be tailored to suit any level of golf.

Alisa golf course is regarded as the jewel in the crown of Scottish golf

The spa features a twenty-metre swimming pool, whirlpool and sauna, providing for the ideal place to relax and revitalise.

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and rightly so. It has been the proud host to many memorable Open Championships. Tom Watson and Jack Nicklaus have all enjoyed the challenge of the Alisa course.

Trump Turnberry, which is set within eight hundred acres of Scottish countryside, has activities like clay shooting, quad safaris, archery, water zorbing or horse riding. Hampers are also available specially prepared for a day out.

Trump Turnberry offers dining experiences with a choice of restaurants to suit. Il Tramonto at 1906 named after the year the hotel was opened is a beautiful room overlooking the Irish Sea. Diners

are offered dishes from Sicily, Tuscany and Sardinia, all sourced locally. The knowledgeable sommelier is on hand to assist with a substantial wine list. There is also the chef’s table which sits in the heart of the kitchen and caters for up to ten guests. This option is available seven days a week. The Golf Club includes a more casual restaurant Duel in the Sun with fresh local lobster, the finest Scottish beef, and mouth-watering desserts. The views overlooking the sea are peaceful and the hotel has a mini shuttle bus to take you there or you can take a short walk.Finally The Grand Tea Lounge & Bar has a roaring fire in the lobby. Afternoon tea here is certainly a

worthwhile experience with a tea sommelier on hand to talk you through the tea selection. The area is a cosy place to meet for tea, drinks or just sit and admire the view, certainly one you will never tire of as the sea’s moods constantly change.

Ralph Porciani, the general manager, and his staff will offer you a warm Scottish welcome and ensure your stay is one you will want to repeat.

For more information: www.trumpturnberry.com

Group bookings: [email protected]

The elegant Grand Tea Lounge and Bar has been serving afternoon tea since the hotel first opened in 1906.

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http://www.trumpturnberry.com

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The Powerwomen Awards highlight the female leaders in the private wealth industry and celebrate individuals and companies who support caregiving responsibilities, female leadership, and promote diversity. The awards also create a platform for best practice and positive social influence on the sector. Every year, the event attracts over 180 attendees from blue-chip wealth management organisations. Attendees this year included Citi Bank, Credit Suisse, Deloitte, KPMG, PwC, RBC, Stanhope and UBS.

Join us on 8 February 2017 for the Powerwomen Awards gala in London, hosted by British TV presenter Mark Durden-Smith.

For enquiries and ticket booking, please contact Calin Lapuste at [email protected]

From left: James Penny of Barclays, Sheila Dean and Nicola Gott of Equiom - gold winners of the Company of the Year Female Leadership (Large, Institutional) Award, and event host Frances Edmonds.

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