LG partner Garnham quits firm for social networking

From The Lawyer website:

LG private client partner Caroline Garnham has left the firm to concentrate on the social networking site she dreamed up five years ago.

Garnham has been an equity partner at LG since 2006. Before that she was head of private capital at Simmons & Simmons but left as part of a four-lawyer team when Simmons axed the department (31 July 2006).

Garnham will now devote her time to her role as managing director of Family Bhive, a social networking site for ultra high net-worth individuals, of which LG is a member.

£68m in revenue raised from foreign sports stars and entertainers in 2009/10

A U.K. tax on the earnings of foreign sports and entertainment figures working in the country, including two-time Wimbledon tennis champion Rafael Nadal, yielded 68 million pounds ($105 million) in 2009-2010.
The Foreign Entertainers Unit of Her Majesty’s Revenue & Customs collected 56 million pounds from the tax on endorsement income, appearance fees and revenue in 2008-2009, according to data obtained by Bloomberg News under a Freedom of Information Act request. That compared to 58 million pounds in 2007-2008.


Full story from Bloomberg at:

http://www.bloomberg.com/news/2011-11-25/u-k-tax-that-pushed-rafael-nadal-to-germany-brings-in-105-million-a-year.html

LONDON TOP EUROPEAN CITY FOR UHNWS

Campden FO is reporting:

London is the European city with the highest number of ultra-high net worth individuals, says a study by international private wealth network Wealth-X.

According to the research, 5,955 individuals with a net worth of more than $30 million (€22.4 million) live in London, equivalent to more than 50% of the UK’s 10,450 ultra-rich individuals.

Paris is the second most popular city in Europe with affluent people, the study also found. The Ville Lumiere is home to 2,820 ultra-wealthy individuals, less than half of London.

The research also found that UHNW individuals are more dispersed throughout Switzerland and Germany than they are in the UK and France.
Full story at:
http://www.campdenfo.com/article/london-top-european-city-uhnws

Hill Dickinson makes strategic appointment for Manchester private client team

Leading law firm, Hill Dickinson, has appointed Sean Williams as a partner in the private client team in Manchester. Sean joins the firm from Addleshaw Goddard, where he worked for 11 years; three years as a legal director.

Sean brings with him particular expertise in advising clients on ways in which to mitigate tax, provide for the vulnerable, and protect wealth through tax efficient wills and gifts. Sean also acts as professional executor or trustee and is an expert on all aspects of trust and estate administration including disputes over wills and probate. Sean also advises trustee service providers and has previously worked in-house on secondment with a trust corporation to better understand the requirements of this particular client group.

Full story at:
http://www.hilldickinson.com/news/news_articles-1/hill_dickinson_makes_strategic.aspx

Is the tide turning for tax havens?

The BBC reports:

'Around the world, grassroots opposition to tax avoidance is on the rise. But a survey shows that all but two of the UK's biggest 100 companies have subsidiaries in tax havens, from the Cayman Islands to Singapore. So is big business out of step with public opinion?'

Continued at http://www.bbc.co.uk/news/magazine-15239196

Maitland & Co. appoint Partners from Withers and PwC Legal

The Lawyer reports:

Private client specialist Maitland has made a double partner hire into its London office.

John Langan joins Maitland after five years as a partner at Withers. He will lead Maitland’s funds team in London and brings experience in advising asset managers on collective investment vehicles for high-net-worth individuals and family offices.

Meanwhile, Hed Amitai also joins Maitland in London as a partner, joining the private client department. Amitai is moving from PricewaterhouseCoopers Legal, where he set up and led the private wealth structuring department.

EY Partner Andrew Tailby-Faulkes joins Barclays Wealth.

Barclays Wealth announced today the appointment of Andrew Tailby-Faulkes as a Managing Director within its Wealth Advisory business. Andrew will report to Rob Withecombe, Head of Wealth Advisory, when he joins in September, and will work closely with Jonathan Burt, Head of Key Clients, who oversees the Wealth Advisory proposition for Ultra-High Net Worth clients.

Andrew will focus on advising current clients and attracting new ones, with a remit including entrepreneurs, private business owners and family offices. The Wealth Advisory business helps clients where specific tax, trusts and insurance considerations are of particular importance, leveraging the relationship with Barclays Capital and Barclays Corporate where necessary.

Zurich initiative from Farrer & Co.

Farrer & Co has announced a new initiative for the firm, building on existing strong relationships with clients and contacts based in Switzerland.

In early June 2011 they established a presence in Zurich, with a view to strengthening the international work and profile they already enjoy in some of the key off-shore jurisdictions around the world. By doing this, the Firm intends to raise its profile within Switzerland and build on the strong relationships we already have there whilst looking to develop the international reach of all aspects of our business.

Private client partner Nick Dunnell and head of tax Robert Field are leading the initiative, which will involve regular visits to Zurich. The Firm will operate out of serviced offices in the centre of Zurich and there are no plans at present to set up a permanent base.

The 25 most obscure interview questions of 2010

The following link provides a great compilation of 25 of the most obscure interview questions asked by some of the World's leading companies last year. See http://www.bnet.com/blog/business-research/the-25-weirdest-interview-questions-of-2010/520

Boodle Hatfield appoints new Head of Private Client

Law firm Boodle Hatfield is reporting that Sara Maccallum has been appointed as the new head of Boodle Hatfield's Private Client & Tax department. The position of Department Head is rotated between partners and from 1 May 2011 Sara will take over this role from Sue Laing, who has led the department for the last 10 years.

Full story at http://www.boodlehatfield.com/default.asp?sID=1302614314973

Vince Cable hints at 'Mansion' tax for high value homes

The BBC is reporting that Business Secretary Vince Cable has said tax on high value properties may have to rise - if the 50p tax rate is axed.

Chancellor George Osborne said in the Budget that the 50p rate would be temporary but the government would look at tax on "very high value" properties.

See full story at:http://www.bbc.co.uk/news/uk-politics-12876058

Dawsons close to merger with private client firm Penningtons.

The Lawyer is reporting that Lincoln’s Inn firm Dawsons is close to sealing a merger with private client firm Penningtons after ­coming under pressure to recapitalise and keep a grip on its core partnership.

For the full story see:

http://www.thelawyer.com/dawsons-and-penningtons-set-for-imminent-merger/1007245.article

Private Client Expert Rupert Ticehurst to join BLP

Berwin Leighton Paisner (BLP) has recruited one of the UK’s leading private client experts, Rupert Ticehurst, to its Trusts and Personal Tax team.

Rupert has been a partner at Herbert Smith since 2005 and headed its Private Wealth and Charities practice. He specialises in tax and trusts, particularly legal disputes for families, individuals and charities, with clients based in both the UK and overseas. He is a regular keynote speaker at major industry events and was also voted one of City Wire’s ‘Top 10 Lawyers Wealth Managers Need to Know in 2010’.

Full story at:

http://www.blplaw.com/index.cfm/Press_Releases_Articles/1408/element/88044

Payne Hicks trio set up Private Client boutique

Three Payne Hicks Beach private client partners will leave the firm next month to set up a boutique private client practice. Louise Stoten, a partner at Payne Hicks for the past 10 years, will set up New Quadrant Partners along with partners Marcus Parker and Jane Bennett, who both joined the firm last year. They will be joined by Payne Hicks associate Zoë Camp and tax and trust principal Simon Rees. Joan Major, director of wealth management at London-based multi-family office Sand Aire, will also be joining New Quadrant Partners.

First reported on TheLawyer.com

LG Partners establish new HNW boutique

Four former partners from London law firm LG have established a Mayfair-based boutique law firm Berkeley Law. The firm which has 14 lawyers, includes former LG partners Nick Rucker, Alexandra Ruffel, Glen Hurstfield and Tim Thornton-Jones. Their aim is to build a niche wealth advisory practice advising UK and international ultra high net worth individuals.

Farrer & Co. appoint two new Partners

Leading Private Client law firm, Farrer & Co, has announced the appointment of two new Private Client Partners.

Rhoddy Voremberg will be joining from the Legal 500 recommended team at Wilsons, whilst Nick Dunnell joins from Speechly Bircham's highly-rated team.

Rhoddy advises on estate planning, all aspects of UK trusts, succession and taxation. He specializes in advising landowners on preserving their estates, family succession, heritage property, land development and other aspects of the diversification of estate businesses.

Nick specialises in onshore and offshore trusts and personal tax planning, including inheritance tax, capital gains tax and income tax. He advises trustees and individuals (particularly foreign domiciliaries).