2018 International Private Client Forum

Day 1: Thursday 2nd November 

12.00 Welcome Lunch

13:15 Welcome from RBC Wealth Management 
Tim Houghton, RBC Wealth Management, UK 

13.20 Welcome to Disruption 
“Times of crisis, of disruption or constructive change, are not only predictable, but desirable. They mean growth. Taking a new step, uttering a new word, is what people fear most.” – Fyodor Dostoevsky
Basil Zirinis, Sullivan & Cromwell, UK and USA
Clare Maurice, Maurice Turnor Gardner, UK

13:40 An Introduction to your Future 
Steve Sokic, Sanne Group, Jersey 
Professor Richard Susskind OBE, UK 

14:35 Perspectives of the Exit: The Departure Lounge 
The UK has long been a favourite destination for the internationally wealthy. More recently, “non-doms” have themselves faced disruption in the form of relentless tax changes and now Brexit with all its uncertainty.  At the same time, new tax-friendly regimes are emerging in the Civil Law world to disrupt the market; the internationally mobile have more choice than ever before.  
Which jurisdictions are most likely to woo future successful families and is London set to lose its crown?
This panel discussion will explore the new low-tax regimes which are emerging in Europe and consider the options for today’s clients.
Moderator: Julian Washington, RBC Wealth Management, UK 
Florentino Carreño, Cuatrecasas,Spain 
Nuno Cunha Barnabé, PLMJ Advogados, Portugal 
Raul-Angelo Papotti, Chiomenti, Italy 
Maud Udry-Alhanko, Meyerlustenberger Lachenal, Switzerland 

15:35 Coffee break 

15:55 The Transition to NextGen: Disruption and Change for the Family Office 
Drawing from personal experience, Khaled will discuss the success criteria for families, family office staff and advisers when the next generation starts to lead the family.  Learning from other families, identifying the right model for your own family office and then implementing change are the essential stages for ensuring a smooth transition and taking advantage of new opportunities as they come to light.
Moderator: Clare Maurice, Maurice Turnor Gardner, UK
Khaled Said, Capital Generation Partners, UK 

16:25 Sudden Death: The Realities of Immediate Family Disruption
Grief, shock and the resulting shift in family and business dynamics could be a catalyst for economic and emotional disruption within a family and/or family business. What can you do, either to prepare in advance or to react after the event, to try and minimise the impact of sudden death?  How best can you help the family and the business deal with their loss, often in the full glare of publicity? Where does this leave the advisers and the family for the future? This session will explore how to plan for the unexpected, with a European comparison.
Moderator: Sue Laing, Boodle Hatfield, UK 
Line-Alexa Glotin, UGGC Avocats, France
Miguel Jáuregui Rojas, Jáuregui y Del Valle, Mexico 

17:15 Breakout Discussions:
Our breakout sessions give delegates the chance to examine in greater detail topics of specific interest in a roundtable discussion setting. 

(A) Crime and Punishment – Investigative Disruption for Trustees
This session will consider the disruption caused to trustees by allegations against the settlors for criminal conduct. Through the analysis of multi-jurisdictional case studies, our discussion leaders will outline the types of problems faced by trustees (including the potential liabilities) and what they can do to minimise their risk where serious allegations of criminal conduct have been made against settlors and other family members.
Mark Matthews, Caplin & Drysdale, USA  
Richard Wilson QC, Serle Court, UK  

(B) Family Wealth in Uncertain Times: The view from the Middle East 
Successful families from the Middle East face many of the same challenges and pressures as families from other parts of the world.  But those challenges are compounded by factors that are unique to the region, and which often demand a very different approach to advice and structuring. This session will address the impact of geopolitical instability, as well as local cultural and religious norms, on traditional planning techniques.  We will also consider innovative new local legislation and difficult conflict of laws issues.  This will all be considered against the background of changing family sensibilities in the region. The Middle East faces both predictable and unpredictable threats: our aim will be to discuss how these can best be addressed.
Edward Powles, Maurice Turnor Gardner, UK
Andrew de la Rosa, ICT Chambers, UK and Cayman Islands 

(C) All’s Well That Ends Well – Updates on planning for DivorceThis session will review the latest developments in the UK, the Continent and the US.  In particular, our discussion leaders will cover the state of play with respect to the enforceability and/or utility of prenuptial agreements, postnuptial agreements and domestic partnership agreements, the ability of trusts to safeguard assets upon divorce, and the entitlement to frozen genetic material upon divorce. 
Camilla Baldwin, Camilla Baldwin, UK 
Joanne Edwards, Forsters, UK 
Joshua S. Rubenstein, Katten Muchin Rosenman, USA 

(D) Millennials, Disruptors and Social Entrepreneurs: How to engage with the rising generation
Based on Deloitte’s 2017 Millennial survey for which the views of 8,000 millennials across 30 countries were gathered, we will explore the unique perspective and world view of the next generation. Whilst JFK said ‘the future promise of any nation can be directly measured by the present prospects of its youth’, we believe the same applies to the ongoing prosperity of family businesses and family offices. In this interactive session, we will explore the different drivers and motivations of millennial private clients and how in the context of the modern day family business and family office, strategies can be employed to engage and develop future leaders.
Alexandra Sharpe, Deloitte, UK
David Bowen, Deloitte, UK

18:15 Close of Day One Sessions

19.00 Welcome Drinks Reception

19.45 Villa D’Este Dinner

Day 2: Friday 3rd November

09:00 Welcome Comments from the Co-Chairs
Basil Zirinis, Sullivan & Cromwell, UK and USA
Clare Maurice, Maurice Turnor Gardner, UK

09.10 Appetite for Disruption
Frederique Carrier, RBC Wealth Management, UK & Canada 

09:40 The Ultimate Trusts Checklist 
Are we as advisors checking that existing structures are still doing what they were originally set up to achieve?  What has changed in the last few years, let alone the decades since many structures were devised?  The international legal, regulatory, cultural and political shifts are dramatic.  We must be alert to these, anticipate ongoing changes and adapt our structures -- and our clients’ perspectives -- to stay ahead.  
Mark Barmes, Lenz & Staehelin, Switzerland 
Jeffrey Elkinson, Conyers Dill & Pearman, Bermuda  
Dr. Johannes Gasser, Gasser Partner Rechtsanwälte, Lichtenstein
Paul Hodgson, Butterfield Trust, Guernsey 

10:30 Coffee break

11:00 Fake news: Diverting and Disrupting the Truth
How do you identify and counter the spread of false information? This session will explore different types of fake news and how it is spread. Can you counter fake news with real news? Do you attract adverse attention by fighting such a battle and is it better to ignore? 
Ritula Shah, international journalist and broadcaster
Patrick Harrison, 
Director of Reputation Management, Weber Shandwick

11:45 The Big Reveal
The drive for public registers, the gold standard of the disclosure lobby, continues, and the first exchanges under the Common Reporting Standard are upon us. The clamour to tackle rising inequality and proposals for wealth redistribution continue to multiply, with greater transparency positioned as the key to unlock a treasure trove of untaxed wealth and income. Could the global financial crime and anti-money laundering system be ‘looking under the wrong lamp post’? And if it is, can the ethical case be made for compliant confidentiality? To explore these critical subjects and to examine new ground breaking evidence which challenges the current policy paradigm, join international experts.
Moderator: Geoff Cook, Jersey Finance 
Jonathan Benton, former head of the UK's International Corruption Unit, UK 
Alan Binnington, RBC Wealth Management, UK 
Maya Forstater, Centre for Global Development, USA 

12:30 Interactive Focus Groups
Our break-out sessions give delegates the chance to examine in greater detail topics of specific interest in a roundtable discussion setting. 

(A) Art Update: Painting a Clearer Picture
Estate planning can be tricky when art is concerned. For private collectors art is unlike any other asset part of their wealth.  Advisers and trustees have to take into consideration the essentially different nature of art when they advise on the holding, transfer and long-term preservation of artworks.  This session will discuss the current trends and practices when planning for art.
James Carleton, Farrers, UK 
Philippe Pulfer, Walder Wyss, Switzerland 

(B) A Problem Shared: Tax strategies for International Families
Cross-border planning has never been more challenging, in a constantly changing legislative and regulatory landscape.  Legitimate strategies may be questioned, and a natural wish for privacy and security cast as suspicious.  What structures still work well?  This is a roundtable discussion in which all are invited to share their latest planning strategies and collaborate on new ones.  
Dean Berry, Cadwalader, Wickersham & Taft, USA
Andreas Richter, P+P Pöllath & Partners, Germany 

(C) Innovative Planning in Latin America 

Latin America is facing several challenges as a consequence of the recent changes on asset reporting standards, agreements on exchange of information, increase in taxes and multijurisdictional families. In particular, recent events as the Panama Papers and OECD standards have influenced families to change their mindset in order to adjust their structures and family planning. In this session we will discuss the challenges posed and the requirements of Latin American families.

Javier Canosa, Canosa Abogados, Argentina 
Sergio Michelsen, Brigard & Urrutia, Colombia

(D) Succession Planning for the Family Business: Disruption and Opportunity
As families grow and change, so too does the business. The nature of the business itself may evolve, there may be a generational transition in leadership, or there could be a sale, leading to a large pool of liquidity either to be managed or invested in a new business.  In all events, anticipating the risks is crucial to maintaining the integrity and longevity of the business or the family’s capital. But how do you manage the transition? Can you leverage these changes to benefit the family business?  This discussion group will explore successful succession planning for today’s family businesses, including tools for managing concentration risk, strategies to protect investments and effective methods for enabling diversification.
Jonathan Conder, Macfarlanes, UK
Zoe Vucicevic, LGT Vestra, UK

13.30 Lunch

14.30 Leisure Activities
The Forum is not just about the content you receive in the formal sessions, but the crucial piece of information that you pick up whilst enjoying one of a choice of leisure activities.

19.00 Champagne Reception

19.45 Villa D’Este Gala Dinner

 Day 3: Saturday 4th November

Early Bird Session 
09:30 - 10.20 Preparing for the worst – Guidance on the death or incapacity of directors and shareholders
The death or incapacity of a director or shareholder can have serious consequences for companies and their advisers. This session will identify the various challenges which will often arise, while offering guidance on how to prepare in advance and put in place potential solutions to mitigate the adverse impact of death or incapacity in the corporate context. This briefing will act as a technical follow-on to the “Sudden Death” session featured earlier in the programme.
Christopher McKenzie, O’Neal Webster, BVI Trusts & Estates, UK
Thelma Kwan, Thelma TM Kwan, Hong Kong 

10.30 The Bloody Mary Morning
Our forum closes with a lively session inviting all to participate. Elspeth, Shân and Tina will roam the room, seeking to provoke, challenge and engage.
Elspeth Talbot Rice QC, XXIV Old Buildings, UK
Shân Warnock-Smith QC, 5 Stone Buildings, UK and ICT Chambers, Cayman Islands
Tina Wüstermann, Bär & Karrer, Switzerland 

12.00 Closing Comments and Lunch