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Course details

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Private Banking: Leadership, Transformation & Strategies for Growth

Enhance your understanding of private banking, asset allocation & estate planning
  • Private banking is a notoriously fast-paced environment, and to succeed it is essential to remain on top of the most current changes taking place within the industry.


    The agenda for this course has been specifically designed by internationally renowned experts for private bankers and for anyone involved in any aspect of private banking.
    Their knowledge of the market, industry and players is unrivalled, and together they combine their experience to provide you with a broad and in-depth five day programme; covering topics including asset allocation, real estate planning, investment products and business development.


    Take advantage of:

     

    • The best practices within private banking including asset allocation and estate planning
    • Key management skills that enable you to profitably run a private banking business
    • Exclusive learnings and experiences from an industry-leading Swiss private banker
    • A unique opportunity to network with your peers from around the world
    • The most current and relevant methodology and issues affecting you 

     

  • Day 1

    How does private markets operate? Asset allocation, instruments, strategies

    Introduction

    • Private equity, private debt, private real assets: strategies and instruments
    • The private equity value chain
    • Levels of intermediation: direct/co-investment, funds and funds-of-funds
    • Challenges: Why is investing in private markets difficult?
    • Current debates: reputation, clichés and reality

    The three dimensions of private markets investing

    • Liquidity: measurement and constraints
    • Returns: measurement (IRR, MOIC, PME), comparison, dynamics and interpretation (net/gross)
    • Atelier: illustrating the limits of the IRR
    • Risks: measurement, limits
    • Benchmarking: data sources, quartiles (limits)
    • Current debates: lines of credit, cost of unused capital

    Asset allocation and private markets

    • Perspective on private markets: volumes, evolution, geographical and strategic breakdown
    • Risk-return-liquidity: setting up a portfolio (market neutral portfolio)
    • Top-down and bottom-up approaches
    • Business case (Yale endowment)
    • Current debates: numerator and denominator effect

    Private market funds: functioning and selection

    • Listed versus unlisted funds, fund managers and structures (LP, SIF, FPCI, SPAC, BDC, VCT,...)
    • Functioning of a fund (vintage year, investment and divestment period...)
    • Specificities: capital deployment, dry powder, J-curve
    • Functioning of a fund manager
    • Economics (fees, hurdle, carried, catch-up...)
    • Atelier: fund waterfall (US / European) illustration

    Q&A and wrap-up

    Day 2

    How to convince investors and keep them happy? Fund raising and structuring, investors relations

     
    Who are the investors and how do they think

    • Typology of investors and their priorities
    • Sources of capital and constraints
    • How do investors think?
    • What do investors want?
    • The big puzzle of alignment of interests
    • Current debates: number of fund relationship, one-stop shop, alignment of interests

    Fund raising: a permanent process

    • Setting the scene: number of fund managers, volumes raised, dry powder
    • The process of fund raising: timing, length, success rate
    • The ecosystem: placement agents, gatekeepers, sponsors, etc.
    • Atelier documentation: PPM, presentation, track record, pipe-line, pitch...
    • Specificities: track record, first-time funds, cycles
    • Current debates: staple financing, funds of funds, concentration of fund managers


    Role playing game: the case of a mid-market BO fund raising

    • Introduction and groups
    • Reading and brainstorming
    • Preparation of group work
    • Presentation
    • Debate and debriefing

    Communicating: reporting, AGM and other channels

    • Information asymmetries, due diligence and limits
    • Balance of power
    • The LP’s choice: exit, voice or loyalty
    • dynamics, difficulties and limits
    • Atelier: is changing the fund manager really an option?
    • Voice: ‘diplomacy’ (lobbying, pressure, scandals), war (trials and regulators) and negotiations (LPA to regulations)
    • Loyalty... or not: re-committing to a fund, dropping one, getting access

    Q&A and wrap-up

    Day 3

    Investing: Funds, funds-of-funds, mandates, co-investments


    Setting the right environment

    • Choosing the right environment for selecting funds: from outsourcing to in-house operations
    • Setting up the right program, depending on the constraints
    • Challenges: adverse selection, contagion, lack of alignment of interests, conservatism, herding effects
    • Atelier: endowment, family office, pension funds – alike and different
    • Competition between investors
    • What managers look for in an investor?

    Selecting funds and funds managers

    • Selecting funds (and funds-of-funds): sourcing, approaching and accessing
    • Specificities: persistence of return
    • Atelier documentation: The private placement memorandum
    • Atelier documentation: The due diligence questionnaire (and the DD pack)
    • Request for proposals: virtues and limits
    • Current debates: concentration of fund managers, conflicts of interests, generational change

    Negotiating

    • Atelier documentation: the Limited Partnership Agreement
    • Most frequent clauses: key man, most favoured nation
    • Sponsor (or lack thereof)
    • First closing participation and other advantages
    • Advisory Board and representation
    • Current debates: fee level, hidden fees, hurdle rate,...

    The temptation of co-investing

    • Set up and resources
    • Constraints
    • Liabilities
    • Business case: Formula 1 and the GPFG
    • Statistics on co-investing

    Q&A and wrap-up

    Day 4

    Investing in private companies: sourcing, analysing, negotiating, creating value and exiting


    Investment framework

    • The investment process: five steps
    • Choosing the tools: the case of the LBO
    • Other types of investments

    Analysing a deal: the case of a mid-market cleaning company I

    • Interactive business case (no preparation): deal analysis I
    • Interactive business case: deal analysis II
    • Negotiation and valuation

    Analysing a deal: the case of a mid-market cleaning company II

    • Structuring
    • Leverage effects
    • Performance calculation and analysis
    • Limits and risks

    The deal and post-investment activities

    • The closing and its legal documents
    • 100-day plan, implementation, most frequent operations
    • Value creation
    • Exiting a deal: IPO, trade sale, secondary sale,...

    Q&A and wrap-up

    Day 5

    Learning by doing: business cases day

    Participants are expected to read business cases prior to the session. They will form groups and present their conclusions.

    Venture capital

    • Briefing conversation  what is at stake?
    • Preparation
    • Presentations
    • Debriefing and Q&A

    Growth capital (1:30): TA Associates and Metro PCS (US)

    • Briefing conversation what is at stake?
    • Preparation
    • Presentations
    • Debriefing and Q&A

    Distressed debt (1:30): Countrywide PLC (UK)

    • Briefing conversation  what is at stake?
    • Preparation
    • Presentations
    • Debriefing and Q&A

    LBO and Public-to-Private (1:30): Qantas (Australia)

    • Briefing conversation what is at stake?
    • Preparation
    • Presentations
    • Debriefing and Q&A

    Q&A and wrap-up

  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
    • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Francois Aubert

    Biography

    Francois E. Aubert’s consulting and training expertise comes from over 25 years dealing with both individual clients, families and companies in Europe, Middle East (including the Persian Gulf), Africa, Americas and Asia combined with a solid educational background. After having spent the first years of his career in International Finance (and created his own consulting firm), Francois joined Credit Suisse where he was successively responsible for short-term investments, bond trading and equity sales. He then worked for Elvia Vie, a leading life insurance company (where he was trained to life insurance products), before joining Arab Bank as the assistant to the Geneva General Manager. Having acquired the fundamentals of Private Banking and completed his Certified Financial Analyst education, he was promoted to Relationship Manager, in charge of the Near-East Private Banking clients. In 1998, Bank Leu, Geneva, hired Francois to set-up a Near-East department. The break-even point was reached after one year. He then joined BNP Paribas as Director in 2000, a bank strongly committed to the Middle East. He was able to expand the bank’s customer base in a complex global and regional political environment.2002 marked the beginning of Francois' new business life. While continuing to serve private clients and families as an independent wealth planner, he became again a management consultant to multinational companies for their Middle Eastern affairs as well as to banks, wealth management firms and other companies for projects involving notably debt restructuring, commodities and tourism (tour operating and car rental).Training assignments began over 20 years ago and became more important after 2002. Today Francois is a seasoned certified trainer active in about 40 countries (almost 1000 days delivered). He is a lecturer at Trinity College Dublin in charge of the Master in Finance core course “Credit and Fixed Income Investments” and at Geneva University. His fields of intervention cover furthermore Finance, Investments (all asset classes), Banking and Wealth Planning as well as soft skills such as Leadership, Team Building and Management, Client Relationship Management, Negotiation and Selling Skills. Francois also regularly speaks in front of various audiences and on television. He is as well a CFA Institute Approved Speaker and a member of SpeakerHub.He is as well an Assessor for the Client Advisor Certifications, a regulatory exam soon to be compulsory for all Swiss Bankers managing clients.Francois is a long time volunteer for several organisations including the CFA Institute, he served as Board member of the Swiss CFA Society and various committees such as the CFA Institute Professional Development Committee.He holds an MBA from the Heriot-Watt University in Edinburgh and is a Certified Financial Analyst and Portfolio Manager (AZEK and EFFAS), CAIA charter-holder, TEP (Registered Trust and Estate Practitioner), Certified Trainer (Swiss Federal Certificate), Certified Business Coach, NLP and Belbin Certified Practitioner. This is completed by various certificates notably in Islamic Finance (CISI), Project Management and Life Insurance management.Francois is Swiss and works in both English and French. He is ready, upon request, to travel around the world