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PANEL I: GLOBAL WEALTH TRENDS - IT'S TIME FOR PLAN B

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How are wealthy individual private investors and the private banks that serve them adapting to the myriad ways in which the world is changing?

In the opening panel at Euromoney’s online global private banking and wealth management virtual event, our expert panellists explore the many issues facing them. A key question we ask is: for bankers and their clients, is it business as usual out there – or are they having to resort to a ‘plan B’?

VIEW AGENDA | VIEW SPEAKERS

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Wealthy investors kept their cool by and large in the early days of the pandemic, refusing to panic but keeping an eye out for good deals. After a year of judiciously diversifying portfolios, high net-worth families are looking to the future, as they seek out the best investments in a post-Covid world.


PANEL I AGENDA

OUR EXPERTS DISCUSS:

  • In the current fractious investment climate, what are you advising clients to do about rising global uncertainty? How do they plan to respond to an increasingly unpredictable world? Do they have a Plan B?
  • Climate change presents an array of new risks and challenges. How do your clients plan to structure their wealth in a world threatened by wilder weather on the one hand and uncertain asset and stock prices on the other?
  • Has political turbulence in the West made the rest of the world more attractive for HNWs and UHNWs? Where are they increasingly likely to put their money to work – have any markets gained or lost in terms of their attractiveness?
  • The global real estate market offers a myriad of options for ‘Plan B’ relocation. What in your view are the top-five global property investment destinations?
  • How are wealth structuring strategies changing, and how are service providers adapting to a new investment environment?
  • London has long been a popular destination with HNWs looking for a safe haven. Have recent legislation changes and political uncertainties damaged London’s attractiveness as a global wealth centre?
  • Residency and citizenship: what are the options available worldwide? What markets are HNWs and UHNWs more attracted to, and less attracted to today, versus a few years ago?

PANEL I SPEAKERS

Andrew L. Cohen, Executive Chairman, J.P. Morgan Private Bank
Beatrice Puoti, Partner, Burges Salmon
Greg Limb, Partner, KPMG
Michel Longhini, Chief Executive Officer, Private Banking, Edmond de Rothschild
Nigel Green, CEO, deVere Group
Andrew L. Cohen, Executive Chairman, J.P. Morgan Private Bank

Andrew Cohen is the Executive Chairman of the Global Private Bank and a Global Chair of Investment Banking at J.P. Morgan. He oversees J.P. Morgan Private Bank’s Institutional Wealth Management practice and leads the partnership between the firm’s Corporate & Investment Bank and Private Bank. In this role, Mr. Cohen focuses on servicing the Private Bank’s largest and most sophisticated clients globally. He is a member of the Asset & Wealth Management Operating Committee, Wealth Management Operating Committee, and Global Investment Banking Executive Committee.

Prior to this role, Mr. Cohen was Chief Executive Officer of J.P. Morgan’s International Private Bank, which operates in Asia, Europe, the Middle East and Africa, and Latin America. Before relocating to Hong Kong in 2010 as the Asia Private Bank’s Chief Executive Officer, he was Head of the Southern California region, based in Los Angeles. Previously, he worked with ultra-high-net-worth families in Northern Europe and the Eastern Mediterranean region.

Mr. Cohen holds a Bachelor of Economics degree from Monash University in Melbourne, Australia and attended the Executive Program of Global Leadership and Public Policy for the 21st Century at Harvard University’s John F. Kennedy School of Government.

Mr. Cohen sits on the Board of Directors of the Serpentine Galleries, the Board of Governors of Tel Aviv University, and is an alumni of the Young Global Leaders Forum (World Economic Forum) and the Hong Kong Forum. In his free time, he enjoys skiing, sailing, philanthropy and traveling.

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Beatrice is head of Burges Salmon's Private Wealth sector and a partner in the firm's Tax, Trusts and Family department, which was named “Legal Team of the Year - Large Firm” at the STEP Private Client Awards 2019/20, the third time in five years the team has seen success in this category.

Beatrice's primary focus is on international tax, trusts and estate planning for UK and non-UK resident and domiciled clients. She specialises in cross-border estate planning issues and also has significant experience in advising financial institutions and trustees on international trust and tax matters and on the ownership, structuring and acquisition of UK and non-UK real estate.

Beatrice is ranked as one of the UK legal community’s best lawyers. She is on the editorial board for the European Cross-Border Estate Planning publication by Sweet and Maxwell, and often lectures in the UK and overseas at conferences for clients and other professionals.

Greg Limb, KPMG

Greg has over 25 years of practical tax experience and specialises in advising ultra high net worth individuals, Family Offices and entrepreneurs on their domestic and international tax affairs.

Greg also advises a wide range of international trusts and their beneficiaries on their UK and global tax affairs. He has been instrumental in the creation of many of these trusts (and similar structures). Greg has extensive first hand knowledge of creating, maintaining and advising on Family Office structures both for UK based families and for non UK based families.

Greg leads KPMG’s Global Family Office and Private Client practice team which focuses on providing solutions and support to UHNW families.

Greg has also received multiple industry accolades and has been named in EPrivateClient’s 50 most influential, and in the top ten of Spears 500.

Michel Longhini, Group Edmond de Rothschild

Michel Longhini, 53, holds an MBA from Lyon Business School. He has been CEO of Private Banking and a member of the Executive Committee at UBP in Geneva since 2010. Michel began his career at Paribas in 1988. A member of the Executive Committee from 1999, he successively held the positions of Head of Investments, CEO of BNP Paribas Wealth Management in Asia (2003-08) and CEO of Wealth Management International in Paris (2008-10).

Nigel Green, deVere Group

Nigel Green followed his father into the financial sector as an Independent Financial Adviser in the UK. A fortuitous connection led him to a period in Bermuda where he discovered a huge potential for a new kind of financial service for internationally-mobile clients.

He quickly understood that international clients away from home needed a specialist and more holistic financial service offering, one that was multi-faceted and that took in the particular regional and country variations in tax law, legislation and regulations. Instinctive and equipped with a sharp, intelligent mind, Nigel also realised that the service would have to be personal and backed with world-beating services and products.
It was a winning formula and with his unique drive and determination, Nigel embarked on a programme of expansion that continues today.

Nigel Green is a visionary entrepreneur with a unique self-drive to be the best and to do the best for the Group’s staff and their clients.
To him, daily business life is about finding new opportunity, overcoming challenges and striding forward across borders to meet client need wherever that may be.

Today, deVere Group is one of the world’s largest independent financial advisory and fintech organisations with more than $12bn under advisement.

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