Smith & Williamson has taken on a four-person private client tax team, led by Louise Somerset who joins the firm as partner.
The team, which will operate from Festival House in Jessop Avenue in the heart of Cheltenham, specialises in advising high net worth individuals and has particular experience in working with internationally mobile families, including ‘non-domiciles’, and assisting them with tax, trusts and international pension arrangements.
The team joins from RBC’s Wealth Planning Division. Louise commented on moving to Smith & Williamson:
“We are thrilled to be joining Smith & Williamson with its strong professional reputation for advice on tax and financial matters. This is an exciting opportunity for myself and the team and we look forward to developing the name of Smith & Williamson in Cheltenham, the Cotswolds and further afield, using our experience in UK and international tax matters.“
Kevin Stopps, co-chief executive of Smith & Williamson, commented:
“We are delighted that Louise, Krista and team are on board. Their appointment and skill set is firmly in line with Smith & Williamson’s commitment to meeting the financial needs of private clients and their business interests.”
Joss Dalrymple, national head of private client tax at the firm, added:
“The arrival of this heavyweight tax team is a great addition to the national tax practice. I have known Louise for some years and I am particularly pleased to be welcoming her and colleagues to Smith & Williamson.”
Operating from Cheltenham, the new team will have the full support of the wider Smith & Williamson business, particularly from the Birmingham office which has a headcount of 48 people from the investment management as well as tax and business services divisions.
Additionally, Smith & Williamson has an office in Bristol with around 180 staff and which offers a very broad range of financial advisory services under one roof, from accountancy, tax and financial planning to investment management.
Louise is a member of the Society of Trust & Estate Practitioners and Krista a member of the Chartered Institute of Taxation. Before working at RBC, Louise was a partner at PwC.
The offshore law firm Mourant Ozannes has announced that it will be hiring Jim Edmondson to lead its International Trusts & Private Client service line. The team operates in BVI, Cayman Islands, Guernsey and Jersey.
Mr Edmondson was a Senior Partner and Head of the Private Client team at Farrers until May 2013, when he gave up management responsibilities and became an consultant at the Firm.
His new role is based in London and starts this coming May. He will initially be working alongside Douglas Close, the current Head of International Trusts & Private Client, who is stepping down with effect from September 2014.
Alison Parker has resigned from Farrer & Co, where she was associate in the International Private Client group.
She has relocated to the Cayman Islands to join RBC Wealth Management as their Director of Trust Services. The international division of RBC Wealth Management serves high net worth and niche corporate and institutional clients worldwide. Within the Caribbean they have offices in the Bahamas and Barbados as well as Cayman Islands.
Herbert Smith Freehills has announced the appointment of Richard Norridge to head the Asia Private Wealth practice, effective 1 January, 2014.
With an Asia-wide practice, Richard acts for high net worth individuals, their families, private banks and other advisers on a range of trust and probate issues together with charitable and family company matters. In a number of instances this includes advising mental health committees and estate administrators. Richard also has extensive experience in acting for international banks and individuals in cases involving fraud. He is a member of the Association of Contentious Trusts and Probate Specialists and the Society of Trust and Estate Practitioners (STEP).
Since joining the firm in 2011, Richard has worked closely with Asia managing partner Mark Johnson and Hong Kong-based Head of Litigation, Gareth Thomas, to grow the private wealth practice. Following his move to Hong Kong from London, Richard has established a reputation as one of the leading specialists in his field, generating instructions from high-profile families in Hong Kong, Singapore and more widely. He is also regularly consulted by the leading private banks seeking advice in this highly specialised field.
Richard’s appointment is timely, with the Asia Pacific region now one of the fastest growing private wealth markets in the world. Capgemini and RBC Wealth Management, joint publishers of the 2013 World Wealth Report, noted that the Asia Pacific is second only to North America for the number of high net worth individuals, and is set to take first place in the near future.
Gareth Thomas commented:
“Our private wealth practice has grown significantly over the past few years, in particular as families and their advisers look to adopt more complex and sophisticated structures and an ageing population has led to more succession-related disputes. Richard has been central to these efforts and he has made a valuable contribution to developing the practice in Hong Kong and more widely across the region. His appointment reflects both Richard’s efforts and the opportunities we see for further growth.”
Mark Johnson added:
“We have acted for a number of high net worth families and advisers in Hong Kong for over 20 years. Richard’s appointment is the next step in our strategy to expand this practice, in particular in mainland China and Southeast Asia.”
Mr Eric Williams, a highly regarded Private Client Tax practitioner, has joined Mazars. He will be based in the Birmingham office.
Mr Williams has spent the last 18 years with Grant Thornton where he has specialised in tax, estate planning and wealth structuring advice for wealthy individuals, entrepreneurs and their companies. He lead the Firm’s UK private client team.
He was named in the 2012 and 2013 Private Client Practitioner list of the “50 most influential” in the Private Client Advisory field and for the last 3 years in the CityWealth Leaders List.
Speechlys has opened its fourth international office in a little over two years, following its expansion into Geneva, Zurich and Luxembourg.
The new operation will initially consist of a team of four partners and seven associates. The offering will focus on tax planning for wealthy families and entrepreneurs as well as corporate and litigation services to these clients, private equity investors and corporates. Such an offering complements Speechly Bircham’s existing strength in international private wealth and corporate work, and will serve as a solid platform to add complementary disciplines in Paris in the future.
The partner team comprises Stéphane de Lassus and Anne-Marie Berthault-Boissonnas, both formerly of STC Partners, who specialise in international tax planning for wealthy families, entrepreneurs and management teams; Thibaut Caharel of PDGB Avocats (corporate) and Frédéric Jeannin, also from STC Partners (litigation).
Stéphane commented, “We are all very excited about this fantastic opportunity. The partner team here in Paris has a clear focus on the private wealth, private equity and entrepreneurial market, which fits perfectly with Speechlys’ international practice. Our clients expect high quality, responsive, and independent advice from their lawyers, with access to an international offering. Becoming part of Speechly Bircham is a perfect way to achieve that.”
The resident team will be supported by a number of London partners from across Speechly Bircham’s other European offices: Nathalie Moreno (a dual qualified TMT partner who has recently been appointed as representative of the Paris Bar in London) and corporate partner Martin Wright have significant expertise acting for French corporates in the UK and overseas. Paul Henty, who graduated from Strasbourg University and specialises in EU & Competition law, and John Ward, one of the firm’s leading international tax and estate planning partners with experience of the French market, will also support the new office.
Responsible for developing the firm’s international operations, Speechlys’ Senior Partner, Michael Lingens, said “Building on the success of our first international offices, Paris feels like a natural next step due to its importance as a European commercial centre. Speechly Bircham has invested in growing its international private wealth, investment management and funds offering and we are delighted that this very talented team has joined us. The addition of Paris will enable us to broaden our offering to wealthy families and successful entrepreneurs as well as private equity houses and corporates.”
Anne-Marie advises entrepreneurs, private equity investors, family and private groups and company directors and managers on French and international taxation.
She assists with the implementation of legal and tax optimisation strategies, at French and international level, with a particular focus on the structuring and transfer of private and family groups (creation, transfers, private equity or fund investments, transmissions and donations of companies), taxation of family shareholders and managers of companies (wealth tax, capital gains, financial products, remuneration optimisation and diversification, etc), creation of hybrid entities (partnerships etc), investment (life insurance, financial products, real estate investments, etc) and international mobility.
Anne-Marie holds seminars for French and foreign banks and organisations specialising in asset management, tax engineering and property investment.
Anne-Marie began her career in 1997 as a tax lawyer at Baker & McKenzie where she practised until 2005. She joined STC Partners in 2005 and became a partner in 2008. Anne-Marie joined Speechly Bircham in 2013.
Anne-Marie holds a Masters in business law and taxation (Université Paris II Panthéon Assas) and a DESS in Company Taxation (Université Paris IX Dauphine).
Stéphane de Lassus advises family and private groups, company directors and managers on LBO transactions.Stéphane is also a lecturer in international tax law at the University of Paris IX Dauphine as part of the Master of “Professional Assets Law” programme.Stéphane began his career as a tax specialist at Archibald Andersen in 1995, where he managed the asset management and family business department. He joined Landwell in 2002 and, in 2005, participated in the creation of STC Partners where he became a partner. Stéphane joined Speechly Bircham in 2013.Stéphane is a graduate of the Institut d’Etudes Politiques of Paris. He holds a Master’s degree in Business Law (Université Paris II -Panthéon Assas) and a DESS in taxation (Université Paris IX Dauphine).
Foot Anstey has hired Deborah Carrivick from Burges Salmon, where she has worked for the past 15 years. She will be based in the Bristol office.
Deborah sits in the Wealth and Succession team and has extensive experience of advising clients on UK and international tax, trust and succession matters. She has acted for individuals, trustees and financial institutions.
Her work involves advising individuals on the UK tax implications of being UK resident and of owning assets in the UK, looking at domicile issues and advising on the UK taxation of offshore trusts and companies. She also advises international financial institutions and global trust companies on international tax and trusts matters, including the preparation of standard trust documents for use worldwide.
David Kilshaw has joined EY, following his retirement from KPMG’s Private Client team.
He will work with John Cooney, Carolyn Steppler and Caspar Noble to strengthen the family office business in the UK.
Head of UK & Ireland Tax at EY, John Dixon, commented
“As well as growing our family office practice, he will take an active role in developing and mentoring new talent coming through the team. We have ambitions to grow the tax business significantly, and it’s imperative that we have the best people at the helm and coming through every level of the organisation.”