Andrew De La Rosa

+13459265214

Andrew De La Rosa

Independent Counsel  |  ICT Chambers
JURISDICTION

Cayman
England

TOP 3 AREAS OF EXPERTISE

Contentious trusts
Contentious estates
Family wealth/business succession planning
Fiduciary relationships in the corporate, partnership and collective investment spheres

Enhanced Q&A

What has been the highlight of your practice over the past 12 months?

Over the last 12 months, I have been involved in engineering the transition of long-standing trust structures between generations, from an existing fiduciary team to different, client-controlled arrangements. Two of these instances involved families from non-common law jurisdictions with huge wealth. They were both testing and court applications were necessary. One was particularly difficult as the existing team was standing out against change. The other involved dealing with hundreds of members of a large Arab family, whose wealth needed to be structured in accordance with what the Settlor wanted.

How did you get into private client?

Accident of practice. I started out as a chancery practitioner with primarily commercial work - I only became specialised with greater experience. It was the international dimension that appealed to me foremost in private client, after acting for Muslim clients for many years. It was the substance of it too – trust and succession planning came second after experience in litigation of what can and does go wrong.

Do you have any outside interests or hobbies?

It was travel! I have always been interested in scale modelling and photography.

Where have you seen growth in your practice over the last year?

Undoubtedly in my case it has been restructuring of existing family wealth/succession trusts to cater for changed circumstances - mostly in the families themselves, including the wishes of different family members to go their own separate ways, but also in the global regulatory/compliance scene. Some of these exercises have been protracted and difficult, not least because the original settlor/founder 'vision' for the structure may have been inflexible and/or intended to endure for several generations, and the assumptions made about how the structure would in fact operate have been falsified.

What do you think will be the biggest three challenges in your practice for the next 12 months?

(1) Coping with remote contact with clients and colleagues in circumstances where, in practical terms, nobody is allowed to travel anywhere to meet in person
(2) More EU-inspired regulatory/compliance onslaughts against the entire global wealth management/transfer industries
(3) Seeing new sources of work become more limited the longer the COVID situation continues.

What advice would you give to your younger self?

Specialise sooner rather than later - because it takes a long time to develop a specialist practice - and do so in a sphere that is not cyclical. (International trust and estate work tends not to be as subject to ups and down than other areas although bigger firms, who essentially form my client base, sometimes reshuffle their priorities towards commercial transactions work and insolvency for perceived gain.)


Joe Donohoe

Joe Donohoe

Director  |  Asset Risk Consultants
JURISDICTION

UK
Channel Islands
Ireland
Switzerland
USA (to a lesser extent)

TOP 3 AREAS OF EXPERTISE

The twin focus of my career has been on trusts and investments.

Enhanced Q&A

What has been the highlight of your practice over the past 12 months?

Helping our clients to navigate their way through a dramatically turbulent year in the investment markets.

How did you get into private client?

Having qualified as a chartered accountant in Ireland I joined the trust department of C&L in Jersey and have been working with private clients ever since.

What advice would you give rising stars/new lawyers in the private client world?

Technical skills will only get you to the table. Your ability to build relationships by being nice to people will determine how long you stay there.

What is your favourite quote?

“Everybody has a plan until I punch them in the face” – Mike Tyson

Do you have any outside interests or hobbies?

Music (mostly the Bs – Bach, Beethoven, Beatles, Bowie, Billy Bragg…), Sport (especially football, cricket and NFL) and crime fiction.

When the restaurants reopen, where would you like to go?

Le Cirque at the Bellagio in Las Vegas and Green Island in Jersey.

What is the main area of growth you predict for the next 12 months?

A continuing and growing focus on ESG and sustainable investments, especially amongst the emerging generations.

What advice would you give to your younger self?

Planning has its place but always embrace change and be prepared to adapt.

What are three top tips for dealing with your clients remotely?

1. Use their choice of medium not yours
2. Prepare for and attend a virtual meeting with the same thoroughness as you would a physical one
3. Always be available


Lucien Masmejan

+41584507000

Lucien Masmejan

Partner, Head of Private Clients  |  Lenz & Staehelin
JURISDICTIONS QUALIFIED IN

Switzerland

Q&A

What has been the highlight of your practice over the past 12 months?

The last 12 months we have organised the transfer of the holding company of a very prominent UK family from an offshore jurisdiction to Switzerland - an ongoing project for more than 12 months.

How did you get into private client?

I started as a corporate and tax lawyer many years ago and my clients were very successful entrepreneurs – they then sold their businesses. I was then faced with structuring their family offices. When you do it a couple of times, you realise the clients talk to one another and the work develops from there.

What advice would you give rising stars/new lawyers in the private client world?

Stick to your values, be a hard worker and be patient.

What is your favourite quote?

“Try not to become a man of success, but rather try to become a man of value." Albert Einstein.

Do you have any outside interests or hobbies?

Biking. Skiing. I like old French movies. I read a lot.