T H E I N T E R N A T I O N A L B U S I N E S S M A G A Z I N E O F T H E I S L E O F M A N

I S S U E 1 3 3

COUTTS: MAKING ITS MARKON THE ISLE OF MAN

CONTENTS4 News

14 Features

23 Portfolio Life

46 Isle of Man Business Directory

49 Isle of Man Information

50 Appointments

4 16 18

22 25 26

38 42 44

51 52 54

Isle of Man Portfolio magazine ispublished monthly and is deliveredto every private and public sectorbusiness in the Isle of Man by theIsle of Man Post Office.

The magazine is freely availablefrom a dispenser situated in theDeparture Lounge of Isle of ManAirport, and in the RendezvousExecutive Lounge.

Financial institutions andGovernment Departments take copiesfor circulation among their clients.

The magazine is also taken byseveral leading Isle of Man hotels fortheir guests.

Isle of Man Portfolio is alsoindividually mailed to seniorprofessionals retained on themagazine’s database.

Isle of Man Portfolio magazineis designed and published by Keith UrenKeith Uren Publishing • 12 Manor LaneDouglas • Isle of Man • IM2 2NX

Printed by Mannin Printing Ltd,Cronkbourne • Isle of Man

© 2013Keith Uren Publishing

To advertise in Isle of Man Portfolio,please contact

Sarah Versluijs T: 01624 623527M: 07624 481189E: advertising@manx.net

ADVERTISING:SARAH

VERSLUIJS

EDITORIAL:KEITH UREN

T: 01624 611100M: 07624 498740E: portfolio@manx.net

3

T H E I N T E R N A T I O N A L B U S I N E S S M A G A Z I N E O F T H E I S L E O F M A N

I S S U E 1 3 3

COUTTS: MAKING ITS MARKON THE ISLE OF MAN

NEWS

4

Call on Krypton Cleaning’s knowledge with their extensiveexperience and procedures to strengthen the domestic andoffice cleaning of your premises. Among Krypton’s range ofDomestic, Industrial and Commercial services are Office,Retail cleaning, Washroom cleaning, Carpet cleaning,Window cleaning (including high level), a FeminineHygiene Disposal Service, Floor polishing, IT and computercleaning, Full house cleans and a Refuse Collection service.

Krypton Contract Cleaning,touching your everyday life

PART OF THE STRAND GROUPOF COMPANIES

28-30 Spring Valley Industrial Estate, Braddan, Isle of Man, IM2 2QS

Telephone 663913 • www.strandgroup.im

The appointment of a new fund manager by Nedgroup Investments has

created a strong business and investment link between the Isle of Man,

South Africa and the United States.

This newly established link with the United States has seen them

appoint Los Angeles-based First Pacific Advisors (FPA) to manage the

Nedgroup Investments Global Balanced Fund; a fund that has produced

impressive results during the global financial crisis.

Nedgroup Investments, the international asset management

subsidiary of Nedbank Group of South Africa, has offices in the Isle of

Man and London and currently has US$ 1.8 billion under management

and advice.

The Global Balanced Fund forms part of Nedgroup’s International

‘Best of Breed’ range, an approach that sees Nedgroup partner with

specialist fund managers. Nedgroup’s investment team research, select

and monitor managers on an ongoing basis to ensure that they have

the best fund choices available.

FPA takes over management on June 17th, which will coincide with

a change of name for the fund to the Nedgroup

Investments Global Flexible Fund. At the same time

the name of the South African based feeder fund

will be similarly renamed the Nedgroup

Investments Global Flexible Feeder Fund.

“This is a very positive move for the fund and

for our investors,” said Nedgroup Investments’

Managing Director Andrew Lodge. “FPA is an

experienced fund manager with an excellent track

record. We have monitored FPA’s performance for

a long period, and found them to be of the highest

quality. We had no hesitation in appointing FPA to

manage our Global Flexible Fund.”

The fund benchmark and fees are not

changing. However, the maximum allowable equity

exposure has been increased from 75% to 100%,

allowing FPA full flexibility in extreme market

conditions. The fund is expected to typically have

an equity exposure of between 40% and 70%.

The Nedgroup Investments Global Flexible Fund

will be modelled on a successful US product called the Crescent Fund,

created by FPA’s managing partner Steve Romick who was nominated

in the US for the ‘Morningstar Fund Manager of the Decade’ in 2009.

The appointment of FPA also coincides with the 21st anniversary of

Nedgroup Investments being established in the Isle of Man, having first

opened its offices in 1992.

“This is an important landmark for Nedgroup Investments in the

Isle of Man,” added Andrew Lodge. “It signals a new era in the history

of the company, and the appointment of a new fund manager

emphasises the importance of identifying and utilising the skills of the

most highly skilled professionals from anywhere in the world.”

NEDGROUP FUND MANAGERAPPOINTMENT CREATESSTRONG GLOBAL LINK

Andrew Lodge

NEWS

6

PART OF THE STRAND GROUPOF COMPANIES

28-30 Spring Valley Industrial Estate, Braddan, Isle of Man, IM2 2QS

Telephone 663913 • www.strandgroup.im

Document Archive Storage, Scanning, Secure Document & DataDestruction, Computer Recycling.ISO27001 / ISO9001 accredited.Document and Archive Storage:We offer comprehensive document storage and archiving at our dedicated 20,000 sq.ft.secure facility, which is fully heated and protected against fire and intrusion. We providea secure collection service and we offer both short and long term storage options.Secure document & data destruction:We will supply you with lockable confidential waste bins (120ltr and 240ltr), which canbe collected as part of our regular scheduled service or ‘on demand’ to suit you.Electronic document scanning:Bureau-scanning services to public and private sector clientswho require efficient and cost-effective solution.

Touching your everyday life

Creechurch Capital has been awarded ‘Best

in Class for Boutique Wealth Management

Services’ in the prestigious Professional

Adviser International Fund & Product Awards

2013.

Now in their 14th year, the Awards are

in honour of firms in the financial services

industry offering the best products and

services across borders. Creechurch Capital

was up against more than 70 entries to this year’s awards from a

wide range of companies in the offshore sector, impressing judges

with a range of attributes including transparency and ease of use, as

well as appropriateness and flexibility of products and services.

Despite being established less than three years ago, Creechurch

Capital has already developed a reputation for its excellent customer

service and expertise. The business has also achieved impressive

growth while successfully integrating into key international markets

and remaining loyal to its clients in the Isle of Man.

John Greenwood, CEO at Creechurch Capital said: “Creechurch Capital

was formed as a boutique wealth manager so we are extremely proud

to win ‘Best in Class’ for this award. The amazing hard work of our

staff has really paid off and the award is further proof that we are

able to provide the very best advice to investors across the globe.”

Commenting on this year’s awards, Deborah Benn, chair of the

judging panel said: “Regulatory change has had a big impact on

providers this year. The need to comply with a range of different

regulatory requirements has required providers to change and adapt

accordingly.

“While this has not been easy from a commercial or operational

viewpoint, it’s clear from judging that there is no lack of determination

and willingness to ensure products and services meet current high

expectations. Our Winners as well as those achieving Highly

Commended and Best in Class have all impressed with their ability to

keep their finger on the pulse of consumer needs and market changes.”

BEST IN CLASS FORBOUTIQUE WEALTHMANAGEMENT

His Excellency the Lieutenant Governor, Mr Adam Wood, has become

patron of the Manx Educational Foundation (MEF), a charity committed

to promoting education, economic growth and the development of

individuals in the Isle of Man.

The Foundation was established by Kurt Roosen, David Butterworth

and Ron Berry in 2011 and supports a number of innovative local projects

through public-private partnerships. The main focus of the MEF is to raise

funding, assistance and awareness within the community, championing

information technology establishments with the capability to accommodate

people, resources and facilities for educational excellence in the Island.

Kurt Roosen, Director of the MEF and Founder of the International

Centre for Technology, said: “The MEF is a Manx registered charity.  It

exists to promote and assist in the provision of technology in education

at all levels so that people have the best tools on the market to both

study and innovate. The MEF is also committed to playing its part in

sculpting the Isle of Man’s position as a ‘digital isle’ by championing it

as an IT centre of excellence: The International Centre for Technology.”

His Excellency has extensive experience of international

development, including the launch of major programmes extending

coverage and quality of primary education in countries as diverse as

Kenya, Vietnam and Nepal. His diplomatic career culminated in

appointments as the British High Commissioner in Uganda, High

Commissioner to Kenya, and the Africa Director of the Foreign and

Commonwealth Office in London.

The Lieutenant Governor, Mr Adam Wood, said: “I am honoured to

be involved with a wide range of charities that work hard to promote

the interests of the Isle of Man and its people. I look forward to

supporting its vision in my capacity as patron.”

LT. GOVERNOR BECOMESPATRON OF THE MEF

John Greenwood

NEWS

8

Cleaning Services Facilities ServicesAll aspects of commercial cleaning, from Office andretail cleaning to school and washroom. Carpetscleaned, windows cleaned (including high-level), ITand computer cleaning.

Caretaking, gutter cleaning, fire safety, high level accessup to 83ft, key holding service, painting & decorating,pest control, joinery & handyman services, pressurewashing, appliance testing. An ISO27001 accreditedcompany.

28-30 Spring Valley Industrial Estate, Braddan, Isle of Man, IM2 2QS

Telephone 663913 • www.strandgroup.im PART OF THE STRAND GROUPOF COMPANIES

Touching your everyday life

aren’t sure what suits them and they don’t know what to look for in a

dress. So we decided to do all the hard work for them and tell them

exactly what will suit their body shapes. Moreover, it’s very difficult to

tell what a dress will look like on you, from looking at it on a catwalk

model on your computer screen. We are very proud to say that we use

‘real’ everyday women from the Isle of Man to model our dresses on

the website. This way you can see what a dress will really look like,

on someone with the same body shape as you”.

Also on the website is a blog section, where you can have a read of

the latest fashion tips, dress styles and on trend topics. Bloggers on the

website include professional industry experts and style gurus, as well

as everyday fashion lovers.

Laura commented, “Bringing variety of input onto the website is really

important to us. We encourage our customers to send in photographs

of themselves looking fabulous in their new dresses, so we can show

everyone how great they look! It’s a massive confidence boost.”

Despite only being 22, Laura is remarkably focused and has big plans

for the future: “This is the next step in online shopping. It’s a tailor

made experience. The big retailers don’t care about what you look like;

they just want to sell you as many clothes as possible. Our approach is

different. We want customers to love every single dress they buy, we

want them to look good, and most importantly, feel good about

themselves”.

Head to Love My Figure, Love My Fashion’s website, www.lmflmf.co.uk to

find out your body shape and discover the perfect dress, and follow the

latest news and posts on their Facebook page - type in ‘Love My Figure,

Love My Fashion’.

Laura Faulds, 22, a local young female

entrepreneur has launched an

innovative new business – Love My

Figure, Love My Fashion (“LMF LMF”),

an online dress shop where you can

shop by your body shape.

Laura, who currently also works

for a local Corporate Service Provider,

successfully launched in June and has

been delighted with the interest in

women wanting to shop by their body

shape. She said, “When you visit the

site, you can enter in three simple measurements to find out your body

shape, it’s that simple. You are then shown a range of dresses that suit

your figure. If you don’t have a tape measure handy, we’ll even send

you one so that you don’t miss out”.

Laura explained, “Each dress has been carefully handpicked for each

of the five body shapes (Pear, Apple, Rectangle, Inverted Triangle and

Hourglass), and on the dress

description, it tells you

exactly why it suits your

shape. Women are always on

the search for dresses to

complement their body

shape, now you can find that

perfect fit with us. We want women to feel confident and look their

very best; shopping for your body shape helps you achieve that.

Everybody has a different figure – small or large, curvy or skinny, we

want women to love their figures, and find that perfect dress.

“We’ve spoken to a lot of women and the feedback was that they

find it hard to find the right fit, especially when shopping online. They

LOCAL ENTREPRENEUR MAKESWAVES WITH NEW ONLINEFASHION SHOP

NEWS

Kreston IOM, one of the Isle of Man’s leading independent providers

of Trust, Fiduciary and Corporate Services, exhibited at the Kreston

Asia Pacific Conference in Bangalore, India on 27-29 June 2013, which

was hosted by Kreston Rangamani, Bangalore.

The conference, which was attended by Kreston representatives

from all over the world including China, Singapore and Australia,

explored topics such as taxation, regulation and legislation in India,

the growing sector of information technology and Kreston

International’s development and growth.

Key speakers at the conference were Kreston International’s

CEO Jon Lisby and Director Sunil Goyal as well as Kreston’s

Chairman, Franck Parker. The conference was represented by 30

Kreston member firms, compromising of over 50 delegates, including

delegates from major UK firms, James Cowper & Reeves.

Commenting on the conference, Stewart Davies said, “Last year

we presented at the Asia Pacific Conference and this year we

exhibited. Attending these conferences gives Kreston IOM a

fantastic platform to further establish the Isle of Man as a key

jurisdiction for the financial services industry.

“We are heavily focused on emerging markets and the Network

puts us in a very strong position to be able to explore business

opportunities with member firms all over the world.

“The conference enabled us to meet new firms from New Delhi

(SNR & Company) and Kolkata (M/s G.P Agrawal & Co).”

India has the world’s 10th largest economy and is currently

experiencing sustained globalisation. Bangalore itself is ranked as

one of the top 10 preferred entrepreneurial locations to do business;

it’s India’s Silicon Valley”.

Kreston IOM is the Isle of Man’s representative of Kreston

International, a dedicated network of accountants and business

advisors, with 700 member firms, employing over 21,000

professionals in over 105 countries.

GLOBAL PRESENCECONTINUES TO GROW

10

One of the Island’s leading corporate service providers to the

eGaming sector, Boston Trust, has announced a new and market-

changing partnership with an ambitious Isle of Man-based betting

and gaming consultancy company, InQ. Together, the two companies

will bring a new offering to the Island: an end-to-end eGaming

service that combines licensing and back-office services with high

level, substantive consultancy and planning.

Boston is a respected and independent professional services

group with offices in the Isle of Man and Malta, which already has

a strong internal team of eGaming specialists. InQ is led by industry

veterans Martin Linham and Mark Irvine, who are also behind the

new Yello contact centre on the Isle of Man. InQ and Boston will

provide top level corporate advice for companies in the betting and

gaming sector, covering everything from licence applications and

operations, to web platforms and marketing.

“As betting and gaming has proven to be a particularly resilient

industry throughout the financial downturn, more and more clients

are expressing an interest in investing in this area and our team

has expanded as a result,” said Bruce Elliott, Head of eGaming at

Boston. “By collaborating with InQ as strategic partners, we are

offering even wider expertise on everything from overall strategy

to the ever-evolving requirements of gaming legislation.”

InQ has been established as a strategic betting and gaming

consultancy that will also provide focused services for the sector

where a need is identified. This is where Yello has developed from,

offering a locally-based contact centre dedicated to the specific

requirements of the industry.

“InQ is all about thinking outside the box, looking at the bigger

picture and delivering workable strategies to help new and existing

betting and gaming businesses operate profitably and efficiently,”

said Martin Linham. “We will be working to supplement the excellent

knowledge base that already exists within the Boston team by

introducing our own insight to offer a level of service that can’t be

matched on the Isle of Man or elsewhere.”

BOSTON’S STRATEGICeGAMING PARTNER: INQ

NEWS

Sure has rebranded its enterprise division, refreshed the look of the

Sure consumer brand and added members to the Group Executive

Committee.

The company has taken its well respected and popular consumer

brand, Sure, and extended it into its enterprise division, which is now

known as Sure International, reflecting both the global reach of the

company since its acquisition by the Batelco Group and the vast

resource base which Isle of Man businesses can access following the

acquisition.

“Our customers told us that they trusted the Sure name and we

wanted our new enterprise brand to combine that sense of local

expertise with the global scale our new owners give us – Sure

International does that” stated Eddie Saints, Sure’s CEO.

Alongside the rebrand of the Enterprise division, Sure has refreshed

its consumer brand, introducing a new-look logo that represents the

richness of its full-service telecoms offering and a modern, optimistic

outlook for the future.

Underpinning these brand changes is a renewed focus on corporate

sales and customer excellence as Sure’s Group Executive Committee is

bolstered with the appointment of Jo Cox as Corporate Sales Director

and Charlotte Dunsterville as Customer Experience Director, each of

whom brings with them the benefit of many years telecoms experience.

“Sure is entering a new, exciting phase as we renew our

commitment to customer service excellence in the Isle of Man and the

Channel Islands and take advantage of our new owners’ expertise and

experience to deliver what our customers want, when they want it, at

a price that’s right” continued Eddie Saints.

Andy Bridson, CCO of Sure, added “Our new enterprise brand indicates

our commitment to bring the latest in telecoms technology to Isle of

Man businesses, providing them with the platform they need to compete

in the global marketplace. As before, customer service and technical

excellence remain at the heart of what we offer.”

SURE STEPS FORWARD WITHA NEW NAME, NEW OWNERS,NEW FOCUS AT SENIOR LEVEL

The Equiom Group has announced the opening of its new office in

Swatar, Malta, initially providing corporate services to the Yachting

and Aviation sectors.

Equiom’s Group Managing Director Sheila Dean commented on

this significant milestone in Equiom’s development: “Our decision to

expand our Corporate Services business into Malta was based on

a number of factors including low effective tax rates for Maltese

tax resident entities, access to a highly educated workforce and

low political and economic risk. Additionally this office will

complement our efforts to build and secure existing client

relationships we have in the UK, Switzerland, Middle East, Russia

and other CIS member states”. Sheila continued: “I am delighted to

welcome our new Non-Executive Directors Dr Charles Mangion, and

Mr Benjamin Muscat, on to the board together with myself, Aidan

Davin and Annie Sanchez–Talavera.”

Equiom’s Client Services Director Aidan Davin added: “We

recognise that every client has a unique set of requirements and

therefore needs a flexible range of solutions tailored to their

individual needs, and our decision to expand our jurisdictional

capability is a key objective in our corporate strategy moving

forward”.

The Group’s head office in the Isle of Man will provide support

drawing on Equiom’s heritage, experience, and technical expertise.

Equiom operates niche business lines in addition to its traditional

corporate and fiduciary services with the intention of being the

premier manager of these specific asset classes and proudly

manages a large fleet of Superyachts and Business Jets assisting

owners in registering, managing and enjoying their assets. Equiom

has also successfully managed numerous licence applications for

e-Gaming operators across a broad range of gaming platforms, and

within its fiduciary services business line holds prime commercial

property in excess of £3 billion throughout the UK & Europe.

Equiom in Malta will look to offer these full fiduciary services

in the future.

NEW OFFICE IN MALTA

12

Stand out vacanciesfor stand out candidates

Permanent, Temporary & Contract Opportunities

The Chancellor wants 'monetary

activism'. He has written this

objective into the BoE's new remit

and hired Mark Carney as the new

Governor to implement it. 'Monetary

activism' might be regarded as an

ambiguous objective for an

economy contending simultaneously

with anaemic growth and

overshooting inflation.

But there is little doubt that the

type of activism the Treasury has in

mind is the policy loosening variety.

The key question, therefore, is the

extent to which Dr Carney is prepared

– and able – to implement this. For all

the confident analyst predictions about

what a Carney-led BoE will actually

do, the most pertinent fact is that the

incoming Governor has made no

public statements about the UK

economy and monetary policy, while

several current MPC members have

publicly questioned the merits of policy

initiatives such as forward guidance.

A high degree of consensus has

emerged around the 'flexibility'

afforded by the UK's inflation targeting

framework. BoE Deputy Governor

Charlie Bean has gone so far as to

state that the differences between

flexible inflation targeting and nominal

GDP growth targeting are 'minor'.

Hence the UK's monetary policy

regime has evolved into – or has

always been, depending on your take

– something more akin to the US

Federal Reserve's (Fed) dual mandate

than the European Central bank’s

(ECB) more Teutonic price stability

objective. However, there is less

certainty around the practical

application of this 'flexible' inflation

targeting, most immediately in terms

of the extent to which a Carney-led

BoE will provide forward guidance and

establish 'intermediate thresholds' (let

alone the extent to which the Bank

signals scope to embark on radical

policy initiatives such as large-scale

purchases of private sector assets).

Prior to Dr Carney’s arrival, QE gilt

purchases remained the Bank's

preferred monetary policy course of

action. There is little enthusiasm for a

Bank Rate cut, though we are not yet

writing the obituary for periodic

frenzied market speculation about this

or a move to negative interest rates

(NB, the last time any BoE members

voted for a rate cut was in March 2009

when the final cut in Base Rate, to

0.5%, was sanctioned). These

conventional monetary policy actions

have been augmented by the credit-

easing Funding for Lending Scheme

(FLS), as the Bank's focus has shifted

to repairing the transmission

mechanism, alongside parallel

developments in macroprudential

policy centred on shoring-up banks'

capital.

Some form of conditional forward

By Conor Grant,Director,

Corporate TreasurySolutions,

RBS International

Whilst [CFG]will no doubt bepresented as a

major policyinnovation, inpractice it is

unlikely to be agame-changer.

Dr Carneycan only pre-

commit his ownvote, not theother eight.

14

INVESTMENT

After almost a quarter of a century of service Mervyn King will, by thetime you have read this, have left his role as Governor of the Bank ofEngland (BoE). But many facets of his legacy will live on, not least thereturn of 'boring' monetary policy. A BoE led by Mark Carney is likely toadopt forward guidance, probably referencing the unemployment rate,but the ‘monetary activism’ demanded by the Treasury is likely to be moreevolutionary than revolutionary in character. The subtle normalisation inthe UK's output-inflation mix allows for a more measured BoE response– just as expectations of negative UK policy rates proved to be unhingedfrom reality, a move to large-scale Quantitative Easing (QE) - financedpurchases of private credit assets is highly unlikely.

Regime Changeat the Bank of England(but no change in policy expected)!

guidance (CFG) seems most likely

when the BoE publishes its formal

response to the Treasury's review of

monetary policy (on 7 August). Whilst

this will no doubt be presented as a

major policy innovation, in practice it is

unlikely to be a game-changer. Dr

Carney can only pre-commit his own

vote, not the other eight. With several

current BoE members having

expressed doubts about the merits of

CFG, this hints that any collective

commitments may be diluted

somewhat. The practical limitations of

CFG are perhaps more apparent in the

UK with its notoriously idiosyncratic,

volatile, revision-prone data. In

addition, existing BoE communication

is not without an element of guidance

– it is just a bit more subtle and

opaque. Finally, given prevailing

market expectations for a protracted

period of unchanged Bank Rate – a

25bp hike is not fully priced-in until

late 2016 – there is only modest scope

for a policy-driven easing in monetary

conditions.

Clearer communication, greater

transparency over forecasts, quantified

'intermediate thresholds' and more

explicit conditional forward guidance

are all likely and easily achievable. Any

forward guidance is most likely to

reference the unemployment rate –

Mark Carney has publicly cited the US

Fed's actions in this regard. Something

along the lines of a conditional

commitment not to withdraw policy

stimulus while the unemployment rate

was above, say, 6% (close to the

average rate seen during the cycle prior

to the financial crisis). This could well

be supplemented by other intermediate

thresholds, most obviously nominal

Gross Domestic Product (NGDP)

growth – perhaps a commitment to

maintain current policy settings while

NGDP growth was running below, say,

5% y/y (averaged over an appropriate

time period to allow for any temporary

blips in the data). Nominal GDP would

seem to be more appropriate than real

GDP against the backdrop of

expansionary QE policies. Various

money and credit aggregates might

also be adopted as more timely

intermediate indicators. Whatever the

specific indicators and their reference

values, the expected signal is likely to

be that monetary policy will remain

accommodative for some time yet.

At this stage, more radical

monetary policy moves seem unlikely.

The BoE has been much more sceptical

– if not overtly hostile – towards

notions of large-scale purchases of

private credit assets. In a recent

keynote speech, Mervyn King was

adamant that: 'Any decisions that put

taxpayers' money at risk must be made

by finance ministries, and central banks

must protect their balance sheets by

imposing appropriate haircuts on

collateral, and avoiding the purchase of

risky private-sector assets.' (16 April

2013). It seems unlikely that this is

merely Mervyn King's personal

conjecture. In so far as a BoE

'institutional view' exists, this is

probably a fair reflection of it.

The latest bout of better economic

data – which suggest a belated

normalisation in the UK's output-

inflation mix – make radical monetary

policy action/signaling less likely. At

least in the near-term, the pressure on

Mark Carney to deliver something

sensational has alleviated. The reforms

to monetary policy are expected to

bring greater clarity and we expect the

BoE's policy reaction function to

remain asymmetric: any deterioration

in the economic fundamentals will be

met with policy easing, including the

possibility of more radical action

(private credit purchases). By contrast,

improving high-frequency activity data

and any persistent overshoot in

inflation is unlikely to prompt a pre-

emptive withdrawal of policy stimulus.

In the wider scheme of things,

evolution not revolution looks likely to

characterise UK monetary policy.

Governor King is about to leave, but

'boring' monetary policy – more

'masterly inactivity' than 'monetary

activism' – looks set to make a return

over the next year or so.

15

SECURITY

Just a Facebook friend?The Internet brings immense

benefits and accessibility but with these

comes risk and most experts think that

security is not keeping pace with the

convenience.

Almost imperceptibly, we have

become dependent on the internet as

we share unprecedented amounts of

information online, payment details for

purchases, correspondence via email

accounts, log-in details for almost

endless user interfaces such as online

banking and catalogue services - and

that doesn’t include the information

being constantly churned into social

networking sites like LinkedIn, Twitter

and Facebook.

Technology has made it so easy to

share information online; information

that just two decades ago would have

been considered nobody’s business.

Think about this - when you leave

home for the day, do you leave your

door unlocked and valuables

unattended, accessible to almost

anyone? Would you leave sensitive

papers on your desk when you go to

lunch?

Is that what you’re doing online?

Counting the costCybercrime is a massive threat

affecting us all – the UK Cabinet Office

2011 report on cybercrime estimates

the cost to the UK economy at £27

billion.

And it’s not just businesses feeling

the pain.

Cybercrime poses a threat to

individuals and businesses alike,

leaving us all vulnerable to data theft,

identity theft, fraud, blackmail, brand

and reputational damage and damage

to a company’s shareholders, to name

but a few.

From a corporate perspective, the

compromise of information for

example, could have a permanent or

long-lasting impact leading to a

reduction in market confidence,

financial loss through recovery costs,

investigation costs, regulatory and legal

costs and can reduce competitive

advantage in a very tough economy.

So what can you do?No matter which way you look at it,

cyber security should be a top priority

for individuals and industry. As with

any risk, there is often no way to

prevent it, however, there is much that

can be done to mitigate it - most is

common sense and basic good

practice.

In a corporate world, protecting the

information of clients and staff alike,

ultimately is the responsibility of the

board and should be considered

strategically and monitored carefully

and constantly.

It should be part of the corporate

culture - everyone in the firm should

be aware of the security policies and

how to use systems securely, and if staff

are being kept up to date with the

ever-changing and evolving risks, they

remain current and aware of potential

threats and can act as the front line

defence against cybercrime itself.

An employee opening a pop-up or

inserting a personal USB stick to share

music can create gateways for viruses

and worms to slither through your

network. And remember that

smartphones are really computers,

giving another reason to watch out

when using public WiFi.

Winston Churchill reputedly said,

“Three people can keep a secret if two

of them are dead.” So, ensure that only

those individuals requiring access to

privileged accounts and systems

actually have access. But it doesn’t end

there. Monitor their usage to ensure it

is in line with what would be

reasonably expected of that person.

Most corporate IT departments are

very conscious of things like firewalls

and network security. Companies and

individuals should also ensure that

robust malware protection is in place

and constantly updated.

In a wordAs sophisticated as all that may

seem to be, consider something as

simple as your passwords. “Complex”

and “changing” are the two cyber

security watchwords here. Most people

realise that using their birthday or last

name spelled backwards as a

password, is as secure as putting

everything up on an advertising board

beside the M1.

It has been estimated that it takes

a hacker 10 minutes to break a six

character password that’s written all in

lowercase. Mix in some uppercase

letters and that goes up to 10 hours.

Adding numbers and symbols moves it

to 18 days. But add just two

characters, taking it to nine, with

uppercase, numbers and symbols and

that number goes to 44,530 years!

However good the password, you

should change it regularly.

Make ‘em work for itBottom line, nothing is fool-proof

but if you make cybercrime more

difficult, you just might make the bad

guys go somewhere else.

ByDani Kelly, Head of

Compliance,Moore Stephens

Isle of Man

16

Cyber Security - who’s listening?World Internet Stats www.internetworldstats.com says that 35% ofthe world’s population now use the internet. That’s more than sevenBILLION people! Sadly, with the best will in the world, at least one ortwo of them are bad guys . . .

It has beenestimated that

it takes ahacker 10minutes tobreak a sixcharacter

password that’swritten all inlowercase.

LAW

Who is protected?A person making a disclosure will be

protected if they are:-

• A worker (this includes

employees, workers, agency workers,

home workers, NHS primary care

providers, trainees and persons on work

experience);

• Reveal information of the right

type (i.e. information which falls within

the meaning of a “qualifying

disclosure”);

• Reveal information to the right

person and in the right way (i.e. making

it a “protected disclosure”).

What protection isafforded?

The law will protect a worker from

detriment for making or proposing to

make a protected disclosure.

Detriment is construed widely and

includes not only dismissal but also the

withdrawal or retention of a benefit

which would otherwise have been

provided to the worker. This could relate

to promotion, or training opportunities

for example.

What can be disclosed?For a disclosure to be a qualifying

disclosure, the worker must reasonably

believe that the disclosure he makes

tends to show that one of the below

events is either happening, has

happened or is likely to happen in the

future in the Isle of Man or overseas:-

1) A criminal offence;

2) A breach of a legal obligation;

3) A miscarriage of justice;

4) A danger to the health and safety

of any individual;

5) Damage to the environment;

6) Deliberate covering of

information which tends to show any of

the above.

All that is asked of the worker under

the current legislation is that (1) the

worker has a reasonable belief at the

time of the disclosure and (2) that such

belief was a reasonable one to have at

the time the disclosure was made. It is

irrelevant that it may be later found that

the belief was not correct, so long as it

was reasonably held.

Whom should a disclosurebe made to and how?

A qualifying disclosure will be

protected if it is made to:-

1) The employer (or other

“responsible person”);

2) A prescribed person under the

Public Interest (Prescribed Persons)

Order 2007;

3) Another person or entity so long

as the disclosure falls within the

meaning on “general disclosures”.

Disclosure to the employerIn making a disclosure to the

employer, the worker must act in good

faith and regard should be had by the

worker as to any whistleblowing policy

of the employer.

Disclosure to a prescribedperson

The Department of Economic

Development has identified a number

of individuals within Government

bodies and statutory bodies for the

purpose of receiving protected

disclosures. Different individuals and

bodies will deal with different types of

disclosures. For example, aviation safety

concerns will be within the remit of the

Department of Infrastructure whilst

concerns as to children’s homes will fall

within the remit of the Department of

Social Care.

A qualifying disclosure will be

protected if made to a prescribed

person if:-

1) The disclosure is made in good

faith;

2) The worker reasonably believes

that the information, and any

allegations it contains, are substantially

true;

3) The worker reasonably believes

that the matter falls within the

description of matter for which the body

or person has been prescribed.

General disclosuresIf a qualifying disclosure is made to

another entity/individual, such

disclosure will only be a protected

disclosure in limited circumstances.

The worker must:-

1) Make the disclosure in good

faith;

2) Reasonably believe that the

information, and any allegations it

contains, are substantially true; and

3) Not act for personal gain.

In addition, one of the following

conditions must be met:-

1) At the time of making the

disclosure, the worker reasonably

ByLaurence Keenan,

Director,Laurence Keenan

Advocates &Solicitors

18

Whistleblowing - a minefield foremployees and employers alikeWhistleblowing claims are delicate in nature. Blow the whistle in thewrong way, about the wrong thing or to the wrong person and asworker, you could lose the protection afforded by the law. Deal witha whistleblower in the wrong manner and as an employer, you couldend up facing a claim in the Employment Tribunal for compensation. This overview looks at the procedure for whistleblowing or making“protected disclosures” and how to get the most out of what isafforded by the current legislation.

Isle of Man Business Park, Douglas.

believed that he would be subjected to

a detriment by his employer if the

disclosure were to be made to the

employer or to a prescribed person;

2) In the absence of an appropriate

prescribed person, the worker

reasonably believed that the disclosure

to the employer would result in the

destruction or concealment of

information about the wrongdoing;

3) The work had previously disclosed

substantially the same information to

his employer or a prescribed person.

It must also be reasonable for the

worker to make the disclosure.

Reasonableness will depend on a

number of facts including:-

1) Whom the disclosure was made

to (for example, it may be more

reasonable for an accountant to make

a disclosure to the professional body

regulating his profession than to the

media);

2) The seriousness of the alleged

failure;

3) Whether the relevant failure is

ongoing or likely to occur again;

4) What action has or might have

reasonably been expected to have been

taken if a disclosure had been made to

the employer/prescribed person;

5) Whether the worker has complied

with any internal procedures of the

employer for whistleblowing.

The Employment Tribunaland Remedies

Workers can complain to the

Employment Tribunal if they have been

subjected to detriment by the employer

for making a protected disclosure.

The complaint should normally be

made within 3 months of the

dismissal/detriment.

The remedies available include

declarations, compensation, and if the

detriment is dismissal, re-employment

and re-instatement.

ConclusionIf not dealt with appropriately,

disclosures by workers can create difficult

circumstances for both the worker and

the employer. The effects of such handling

could have ramifications not only in

terms of Employment Tribunal claims, but

also in terms of staff morale and

performance.

It is in the interest of employers to

have clear policies in respect of

whistleblowing. Such policy should

include:-

1) The identity of the person within

the organisation responsible for dealing

with such concerns;

2) A clearly set out process for raising

concerns;

3) Established timeframes for

dealing with concerns;

4) Guidelines as to what the worker

can expect after raising a concern;

5) A summary of the other options

available to the worker in respect of

whistleblowing.

This is essential not only for good

corporate governance but also in giving

workers the confidence that concerns will

be dealt with professionally if disclosed.

It is irrelevantthat it may be

later found thatthe belief wasnot correct, solong as it wasreasonably

held.

19

With a strong heritage dating

back more than three centuries in

the UK and a recent high-profile

push to reposition the bank

globally, Coutts has an enviable

brand in the wealth management

world.

And it was that brand image that

was a major influence behind David

Batey’s decision to take up the role of

director of Coutts Isle of Man nine

months ago, having been with the wider

RBS group for 28 years, most recently

as regional director for RBS private

banking, London, North and East.

“I was first attracted to the Isle of

Man by the chance to work for the

Coutts brand and by the growth

prospects in the Isle of Man. When I

visited the Island I was immediately

hooked by the beauty of the scenery

and the friendliness of the place,” says

David.

Located in one the world’s leading

offshore financial centres, Coutts Isle of

Man provides global wealth

management solutions for local high-

net-worth residents and for those clients

whose residency abroad or UK non-

domiciled status means they can benefit

from having their finances managed

offshore.

David’s motivation for joining

Coutts – its strong brand image –

leaves him ideally placed to deal with

one of the biggest challenges for the

wealth management business on the

island:

“Since Coutts Isle of Man moved out

of Coutts House a number of years ago

people’s perception is that we’ve left the

Island. One of the biggest challenges of

my role is to increase people’s

awareness of what we can achieve for

them.” he says.

David’s response has been to hold

a series of dinners and educational

events to boost the profile of Coutts.

One of the strengths of the Crown

Dependencies is their good and

established infrastructure of

professional services, and David’s team

has also been keen to tap into that to

establish a strong network of local

contacts.

David says: “Whenever I hold

events with clients they all talk about

the high levels of personal service we

provide. Of course, wealth

management is about protecting,

preserving and enhancing wealth, but

it’s also about close relationships,

understanding our clients’ financial

objectives and offering a bespoke

service that meets those wealth goals

– especially in such a difficult economic

climate and with interest rates

remaining so low.”

He adds: “My role is to make

people aware of what we actually offer

My role is tomake peopleaware of what

we actuallyoffer - our

personalisedservice, the

bespokeproducts we

provide and theinvestment

expertise wedraw on - so

they can makea consciousand informed

choice.

20

INVESTMENT

David Batey, director of Coutts Isle of Man, explains his motivation fortaking up the role and his ambitious growth plans for Coutts on the Island.

Making his markon the Isle of Man

21

– our personalised service, the bespoke

products we provide and the

investment expertise we draw on – so

they can make a conscious and

informed choice. Brand is one thing,

but that’s backed up by performance,

service and investment expertise.”

David also recognises the changing

dynamics of wealth. Today’s wealthy

population comprises of entrepreneurs,

professionals, executives, and property

developers – and Coutts Isle Of Man, a

global wealth management business

with a local presence, is perfectly

placed to offer an all encompassing

service.

Managing wealth is more than just

investment solutions, which is why

David and his team provide support to

individuals exiting their businesses, as

well as educational programmes for the

children and grandchildren of wealthy

individuals.

Those individuals are also looking

to contribute to society, and again

Coutts can help with this, being the first

private bank in the UK to set up a

dedicated philanthropy advisory team

to support clients in helping the causes

they care about.

David says: “The Isle of Man is

home to many high net worth

individuals and we have the privilege

of meeting people from a diverse and

fascinating range of backgrounds, with

varying sources of wealth.

“Each and every one of them has

their own idea of what they would like

to achieve both personally and

financially. Managing the wealth of

such a broad range of clients requires

a high level of expertise – and it’s what

Coutts does best.”

If you would like to find out more

about becoming a Coutts client in the

Isle of Man, please contact David Batey,

Director at david.batey@coutts.com or

call (01624) 646410.

Past performance is not necessarily a guide to future performance. The value of investments, and any income from them, can fall as well as rise and an investor might not receive back the amount invested. This promotionshould not be regarded as giving any or specific investment advice. We strongly recommend you obtain independent financial advice as to the appropriateness of any of the products mentioned before investing. TheRoyal Bank of Scotland International Limited trades in the Isle of Man as Coutts & Co Isle of Man and as Coutts.

The Royal Bank of Scotland International Limited. Registered Office: P.O. Box 64, Royal Bank House, 71 Bath Street, St. Helier, Jersey JE4 8PJ. Regulated by the Jersey Financial Services Commission. Businessaddress: 23-25 Broad Street, St Helier, Jersey JE4 8ND. Licensed by the Financial Supervision Commission of the Isle of Man and registered with the Insurance and Pensions Authority in respect of general business.Business address: Royal Bank House, 2 Victoria Street, Douglas, Isle of Man IM99 1NJ.

Calls may be recorded. Internet e-mails are not necessarily secure as information might be intercepted, lost or destroyed. Please do not e-mail any account or other confidential information.

INVESTMENT

While the recent softness in

reported economic data has

eased some of the concerns

about the end of QE, it is now

widely regarded as inevitable that

the Fed will embark on some

form of stimulus reduction well

before the end of this year.

Essentially, although the

magnitude of the likely tapering

remains unclear, there is now a

clear consensus on the direction

of policy.

Here, we consider the argument

against cutbacks in the level of

monetary stimulus at this stage of the

economic cycle.

Current economicconditions do not call for areduction in stimulus

There are plenty of reasons to be

optimistic about the outlook for US

economic growth over the next few years.

These include the ongoing recovery in the

housing market, the strengthening of the

banking system, the easing in credit

conditions and the increasingly buoyant

business investment climate.

However, the downturn in

manufacturing in recent months, the

slowdown in the pace of recovery in the

labour market and the effects of

automatic government spending cuts

(sequestration) present notable

headwinds in the short term. Not

surprisingly, consensus forecasts for US

GDP growth in the second quarter have

been revised lower and real GDP is now

forecast to grow at an annualised pace of

1.7% during Q2. Besides, previous

estimates of US GDP growth in the first

quarter have now been revised sharply

lower. Additionally, US nominal GDP has

now fallen to the lowest reading since the

first quarter of 2010. Indeed, historical

comparisons show that nominal GDP is

now at recessionary levels.

On the inflation front, the backdrop is

increasingly deflationary. US inflation has

been on a steady decline since the Fed

increased QE in September 2012. Using

the Fed’s preferred measure, core PCE,

inflation has fallen from an annualised

rate of 1.5% in September 2012 to a

rate of 1.1% in April— the slowest pace

in over 50 years.

Potential for policy errorAs it prepares investors for the

possible wind down of quantitative

easing, the Fed has been at pains to stress

that QE is data dependent and can be

increased as well as decreased in line with

the economic backdrop. Furthermore, Fed

officials have insisted that tapering would

not imply that the Fed has brought

forward the timing of the first hike in the

Fed funds rate. Not surprisingly, these

comments have fallen on deaf ears.

Investors are right to contend that any

tapering carries information about how

the Fed reads the data: it could imply

greater confidence about the economic

outlook or less confidence that the

benefits of QE continue to outweigh the

costs (or a combination of both).

At this juncture, there is little evidence

to justify greater confidence in the near

term economic outlook. Indeed, incoming

data and forward looking survey evidence

suggest that the loss of momentum is

gathering pace. In essence, Fed tapering

at this point will coincide with a period of

weakening growth. Such a move will

represent a notable policy error. On the

basis of the recent stream of weaker

economic data and muted inflationary

pressures, there is arguably a stronger

case for increasing quantitative easing

than there is for tapering.

Implications for investmentstrategy

In our view, the elevated level of

uncertainty about US monetary policy

undermines some of the bullish case for

equities in the short term. For this reason,

it seems appropriate for investors to err

on the side of caution by not straying too

far from benchmark (strategic) allocation

to risk assets. In the fixed income

markets, while the recent sell off in

government bonds may have been

overdone in light of the weak economic

backdrop, the long term outlook for the

asset class remains unattractive.

Consequently, we continue to favour low

duration strategies. And, while the case

for corporate bonds is no longer

compelling, we still prefer that segment

of the fixed income market to

government bonds.

22

In recent weeks, investors’ expectations that the US Federal ReserveBank (Fed) would start to curtail its quantitative easing programmeas early as September 2013 have resulted in substantial dislocationsin financial markets. The effects were felt across various asset classesas equities, bonds and emerging market currencies experiencedsignificant declines.

Policy errors pose risks tomarket outlook

Abi Oladimeji Head of

InvestmentStrategy,

Thomas MillerInvestment

In our view, theelevated levelof uncertainty

about USmonetary policy

underminessome of the

bullish case forequities in the

short term

CREATINGAMAZING

LUXURY LIVINGCARSPEOPLEENTERTAINMENTTRAVELSOCIAL EVENTS

EVERYTHING NEWABOUT THE LEXUSIS RANGEINCLUDING THESTUNNING F-SPORT,NOW ON DISPLAY ATLEXUS ISLE OF MAN

GameChanger

24

CARS The Lexus marque burst onto the UK car market in the 1980s and has never left.

The brand was, and is, a game changer. It exudes luxury motoring and innovates

like no other when it comes to new technology. This applies, in particular, to its

hybrid technology.

Given rising fuel costs and our growing conscience when it comes to carbon

emissions and the ‘footprint’ we subsequently leave behind, the hybrid in the

Lexus range is a huge leap forward.

There is now a hybrid in the IS range, the IS300h. Its earnest endeavours to

save the planet are in direct opposition to the car’s disarmingly sporty looks. It

appears more of a gas-guzzler than a gas-saver, but then Lexus have always had

a sharp eye for design. Their eye-catching front grille is becoming a familiar Lexus

trademark as new models are introduced and it certainly identifies it as a Lexus.

The design masterclass is continued inside with a cabin bristling with

technology while the driver sits in a slightly lower sitting position to enhance the

sporty feel and appreciate its agility when cornering. Of course, occupants are

wrapped in the luxury and refinement that is synonymous with the Lexus

marque.

Alloy wheels, Lexus Media display with 6 speakers, single CD, and DAB radio,

7” VGA screen, Xenon headlights, dual zone climate control, cruise control, front

and rear electric windows, LED running lights and Bluetooth connectivity are all

standard features in a car which looks simply stunning and, yet, is priced from

just £26,495.

Add F SPORT to the IS and you have a totally different car. The ‘F’ stands for

Fuji Motor Speedway, the Japanese track owned by Toyota and the venue for the

car’s development.

Developed by the team that tuned the LFA supercar and IS F high performance

saloon, the new IS 250 F SPORT carries the spirit of these two amazing cars.

Unmistakably bold, it features exclusive 18-inch alloys, F SPORT grille and LED fog

lights. Inside, you’re greeted by amazing LFA-style instruments. A distinctive F

SPORT steering wheel, leather sports seats, aluminium pedals and metallic inlays

complete the interior. With steering and suspension engineered for extra

responsiveness, this car delivers new levels of control and driving enjoyment.

Please call Lexus Isle of Man today to arrange your test drive.

Lexus Isle of Man, Isle of Man Business Park, Cooil Road, Braddan. IM2 2QZ

Tel 613603

Isle of Man Portfolio’sKeith Uren examines

the all-new Lexus IS300featuring Lexus’ world-beating

hybrid technology

25

INTROName John Wilson

Title and Company Director, Wilson Consulting

YOUWhat is your business background?

After qualifying as an architect in 1990, I worked for a private practice in

Liverpool, Gilling Dod; it worked on a large range of projects including schools,

universities, hospitals, large scale and bespoke residential projects, offices and

banks, so the experience gained was extensive. An opportunity arose to apply

for, and obtain, a position as a Director of a local architectural practice in

Ramsey. After three years with that practice I was invited to join its largest

client, property developer Jackson Holdings, ultimately becoming Group

Managing Director and overseeing the expansion of the business into England.

I then fulfilled a similar role during the initial start-up phase of a locally-based

bespoke residential property developer before establishing Wilson Consulting

to focus on architecture and design-led property development.

Who has been the biggest influence on your career to date, and why?

My Dad; apart from the principles he and my Mum instilled in me as a person,

which will always influence the way I deal with people in business, he gave

me a single piece of advice when I qualified as an architect; listen to what

others have to say – your boss, your colleagues, the workmen on site – they all

have something to offer. Simple, but great, advice – the most accomplished

people I have come across in business know how to listen and it is

fundamental to being a good architect.

What’s the best business lesson you’ve ever learned?

Find a balance between work time and family time and remember which is

more important; both will benefit disproportionately if the balance is right.

What is the best business advice you could offer to anyone?

Be honest with yourself and others. Businesses rely on people dealing with

people and no matter how difficult a situation is, it is best dealt with directly

and honestly. In the long term, the respect gained will outlast any short term

upset.

TRAVELBusiness travel: love it or hate it?

I don’t need to travel off-Island on business at the moment but I frequently

travelled to the UK for ten years during the Jackson Holdings group’s

expansion into England. I wouldn’t say I hated it but there wasn’t much to love,

flying from the Isle of Man to Liverpool in winter, before travelling along the

M62 in a hire car in the dark up to twice a week.

Favourite hotel and restaurant whilst travelling?

Whilst most business travel was as described above, on one occasion the

business chartered a private jet to take a contingent of business partners to

the MIPIM property exposition in Cannes and we stayed in Le Negresco hotel

in Nice. Primarily, it was a way of saying goodbye and thank you to a retiring

Bank Manager who had believed in and supported the business from the

outset. The hotel and setting were beautiful in any event but the experience

was undoubtedly enhanced by the fact that the secretary who booked the

rooms had originally forgotten to book one for the pilot, so had to contact the

hotel and apologise for ‘forgetting about our pilot’. We couldn’t move for

fawning concierges until they realised that both the aeroplane and the pilot

had only been ‘hired’ for the weekend.

That trip also included the best restaurant – Le Chantecler - with its fully

deserved two Michelin stars. French food and wine at its very best.

PERSONALWhat’s your favourite holiday destination, and why?

As a family we have been to three different regions of Italy so, as a country, it

is very high on the list. San Gimignano and Siena in Tuscany must be amongst

the most beautiful places on earth but I can’t decide between Barcelona in

Spain and Rome for the top spot. There is so much to see and do in each,

whatever your age or interests.

What is your favourite beach read?

The Stieg Larsson Millennium Trilogy kept me absorbed for an entire holiday;

it must have been good because lying still in the sun for prolonged periods is

not my favourite pastime, especially as my skin colour lies somewhere within

the blue/white spectrum.

What is your favourite film?

Almost anything directed by Tony or Ridley Scott, or Clint Eastwood. It is very

difficult to choose a favourite as different films appeal at different times but

Gran Torino would probably suit most moods. Directed by and starring Clint

Eastwood, it is a story of redemption but without the Hollywood makeover.

PROFILE

26

PROFILE Sunday

The week starts with a quiet morning in our shared household. My wife Elan

and my young son Aedan share a house with three other adults. We try to support

one another and live in a way that gives life to us and our many guests. We head

down for the morning service at Broadway Baptist Church, where we have been

part of the family for most of our lives. Being part of a church family has joys and

frustrations but we are overwhelmingly grateful for the love we are shown and

the opportunity we have to be a part of a group of people discovering what true

life means in this time and place. After the service I am on the drop-in at

lunchtime. The drop-in provides a safe environment for people seeking food,

shelter and support. It provides the core of our work at Graih and the means by

which we build our relationships with people. After the drop-in I catch up with

Graih's part-time worker, Jayne. Jayne runs a support group for us and provides a

great sounding board for me as we discuss current issues and ideas. In such a

small organisation (I am the only full-time employee) it is key that we work well

together and ensure that I am not only supported but also not heading out on a

mad direction of my own! I spend time with Elan and Aedan over tea and bedtime

for Aedan before heading out to the drop-in for an evening session. Thankfully it

is rare at the moment that we need to accommodate people but this night I have

to stay. Someone has been kicked out of their digs and has nowhere to go. I and

a volunteer stay at the drop-in overnight. Graih provides the only emergency

accommodation on the island where someone can turn up and find a place to

stay when otherwise they would be sleeping rough.

Monday

An early start after the stay at the drop-in. We leave the guy who stayed and

make plans with him to come back later and see if we can help find

accommodation. I head home for breakfast before returning to the drop-in. We

start with prayer for the best part of an hour before we open. I catch up with the

people who join regularly in prayer and we share what's going on with the people

we know. Graih is a Christian charity, although we have volunteers and help from

all faiths, and prayer is at the heart of our work. Our faith provides the impetus,

the motivation, the strength and the vision for all that we do. The drop-in is busy.

Into our small suite of rooms we welcome everyone. Sometimes we see people

for one day and never see them again. For most people we get the opportunity

to see them over a period of time, build up relationships with them and work for

change. Our volunteers' grace, compassion and welcome mark us out as a group

of people able to engage effectively with some of the most vulnerable and

marginalised in society. In the afternoon I visit a guy in his accommodation. He's

struggling with some massive issues and we spend time talking and praying as I

try to offer support and hope. Thankfully it's an evening in! Between the

relationships I have through the drop-in and living in a shared household it is

critical that Elan, Aedan and I spend enough time catching up with one another.

We have a lovely evening relaxing.

Tuesday

Tuesdays are one of my days off so we have a quiet breakfast before heading

down to First Steps, Broadway's toddler group. Aedan has a great time playing

with all the toys in the usual joyful chaos and doesn't seem to have too many

problems negotiating the pitfalls of learning about other children. Elan and I chat

with some of the other mums and dads; it's always very welcoming. We head out

Michael Manning is theco-ordinator of Graih,

a local charity serving thosewho are homeless and ininsecure accommodation

on the Isle of Man.

Michael has lived on theIsland for most of his life and

has been involved in workwith the homeless for the

past eight years.

Those with accommodationdifficulties are often hidden

on the Island and Graih, withits focus on transforming

relationships and flexible,practical help, has been atthe forefront of seeking toserve those at the edges.

A Weekin the Life

27

to the Family Library for lunch – we all love books and we also enjoy some of the

world cinema the library stocks – before heading home. On Tuesdays our

household shares a common meal together. We take turns to cook and tonight

is our night off! We have a lovely meal and we catch up with the guys we live with,

chatting and praying. These nights are a great way to make sure we keep on

supporting each other, seeing how things are in the house and spending time in

prayer. We only started sharing a house in November so we're still learning!

Wednesday

Morning prayer at the drop-in is a great encouragement. Our volunteers range

from age in eighteen to ninety-one and from all backgrounds, men and women.

It's great to see new volunteers struggle to see who's a volunteer and who's a 'guy'

as we seek to break down the 'us and them' barriers. Being so small allows us to

respond flexibly and practically to need as it comes up and we have a great

relationship with other agencies. Gordon Buist of Stauros – a Christian agency

working with those with addictions – is a good friend and worker and we enjoy

a good relationship with a Health Visitor for Vulnerable Adults and a Social

Worker. Some of the guys we see struggle with substance abuse and addiction,

but not all. What characterises most of the people we see through our doors is a

loneliness and isolation from the rest of society. Mental health issues, across the

spectrum, are rife and the problems often go back decades and run very deep.

Into these wounds we try to offer a simple welcome, some food and a place to

just be with others. It is a constant challenge to remain hopeful and encouraging

but we see lives transformed and often we don't realise the impact of our actions

until years later. I have been enriched and taught so many things by the guys over

the years and our relationships are never a one way thing. We are all broken

people stumbling along the road to healing, hope and true life. I chat with a

prospective volunteer interested in our work in the afternoon – we always love

to hear from people wanting to be involved. Home for tea and play before

heading out for another visit to an isolated guy in a flat, then down to the drop-

in for another evening session that is peaceful and a good laugh. I don't need to

stay tonight!

Thursday

We have an early morning prayer time at the house where we're all a bit

bleary! After breakfast it's out to the drop-in for more prayer and then our work

day starts. We close the drop-in every Thursday and encourage the guys to turn

up and be involved in positive work. A few guys come down, which is encouraging,

and we move chairs in the church hall and tidy up before heading out to our

allotment. We've been at the Braaid allotments for a few years and although we're

pretty ignorant about growing things we have some wise heads to help us. We

pick a lot of rhubarb and do our weekly battle with the slugs! It's great for us to

be out of Douglas and away from the boarding houses where so many of the guys

live. These houses are unregulated and have no minimum standards. We know

many of the guys in places with no locks, no heating, no hot water, no cooking

facilities and no hope. There's no tenancy agreements, which makes living there

very vulnerable and desperate. After tea at home we have a church members

meeting where we have lively discussion about some issues affecting our life

together as a church family.

Friday

Morning prayer at the drop-in and another chance to welcome people in. The

chaotic nature of the guys' lives means we never know how many people we'll

see in one day or what problems they will have. In a calendar year Graih has

contact with just over one hundred individuals, and we only see those who are

at the extreme margins of society. I leave the drop-in in the hands of some capable

volunteers and head north for a visit to someone in Jurby Prison. We try to

maintain our relationships with the guys whether they are in the drop-in, in digs,

in prison or in hospital. Our lack of formal policies and 'discharge' criteria means

that we can focus on sustaining positive relationships with people who often

have very few. After prison I do another couple of visits in the north, both very

different. We see such a wide variety of people and circumstances through our

work. It's challenging, joyful and mind-boggling to experience!

Saturday

Another day off. We have a lovely day as a family and we see my parents, who

come up to visit us before heading off-island on a holiday. With the rest of my

week so full of people I enjoy having much quieter days. I love seeing Aedan

running around the park and exploring the wonderful world we live in. Elan and

I have a peaceful evening reading and chatting together. Graih's work constantly

confronts me with problems, issues and questions to which there are no easy

answers. All I know is that all that is good comes from God and in Jesus I see a way

of life that is truly life, and that fills my life with more love and hope than I thought

possible. God is good.

If you would like to know more or offer your support for Graih, visit

www.graih.org.im or talk to Michael at michael@graih.org.im.

THE ISLE OF MAN’S ONLY DEDICATED NEW AND USED CAR MAGAZINEPUBLISHED FORTNIGHTLY AND DELIVERED TO EVERY ISLAND HOME BY THE ISLE OF MAN POST OFFICE

Bruno Mars02 Oct

Micky Flanagan11 Oct

Jessie J15 Oct

Depeche Mode07 Nov

Stereophonics11 Nov

Disney on Ice14-17 Nov

Queensof theStone Age18 Nov

Mrs Brown19-23 Nov

JLS01 Dec

Wet Wet Wet06 Dec

Black Sabbath12 Dec

Andre Rieu16 Dec

Russell Howard08 Mar

Miranda Hart28 Mar

Neil Young18 Aug

Rod Stewart17 Sep

Jesus Christ Superstar15 Oct

Cirque Du Soleil30 Oct - 03 Nov

Milton Jones01 Nov

Jessie J04 Nov

Micky Flanagan12 Nov

Nickelback23 Nov

Bruno Mars24 Nov

Mrs Brown26-30 Nov

Diversity04 Dec

Status Quo06 Dec

JLS09 Dec

Deacon Blue09 Dec

Peter Pan16-18 Aug

Leonard Cohen31 Aug

Roger Waters16 Sep

Paramore20 Sep

Joe Bonamassa21 Sep

Barry Gibb29 Sep

Fleetwood Mac01 Oct

Bruno Mars05 Oct

M People10 Oct

Crosby, Stills & Nash12 Oct

Arctic Monkeys23 Oct

Billy Joel29 Oct

Jessie J01-02 Nov

Stereophonics14 Nov

Neil Young19 Aug

Rod Stewart20 Sep

Fleetwood Mac24-27 Sep

Barry Gibb03 Oct

So Solid Crew05 Oct

Micky Flanagan16-19, 24-26 Oct

John Mayer20 Oct

Jessie J29-30 Oct

Peter Gabriel21-22 Oct

WWE Live15 Nov

Mott the Hoople18 Nov

Depeche Mode19 Nov

Nickelback24 Nov

Stereophonics28 Nov

BELFASTOdyssey Arena

www.odysseyarena.com

LIVERPOOLEcho Arena

www.echoarena.com

MANCHESTERMEN Arena

www.men-arena.com

LONDONO2 Arena

www.the O2.co.uk

PROFILE

28

JAKS Bar & Steak House considerablyexpands its business offering

FOOD

JAKS Bar & Steak House has expanded its premises with the launch of a new, 110

cover restaurant overlooking the stunning surroundings of Douglas Bay.

The expansion marks 23 years in business for one of the Isle of Man’s best-

known venues, and is in direct response to customer demand for its exceptional,

award-winning home-cooked food at affordable prices. Its restaurant is so

popular with diners that its previous dining room became fully booked and

unable to cope with the level of customers wishing to use it.

The launch of its new restaurant, situated on the first floor of its premises on

Loch Promenade, also positions JAKS in the corporate entertainment market for

the first time; corporate accounts are available for business lunches and dinners,

and the restaurant can be hired privately for functions. Bespoke menus can be

designed by its expert chefs, with a large-screen TV able to play corporate

presentations and films as necessary.

With a new, separate entrance on Granville Street, it is also the perfect choice

for families with plenty to keep children entertained including a dedicated menu,

Whippy ice-cream machine and a selection of games and colouring books. It is

ideal for pre-theatre and cinema dining with pre-ordering available (advised).

JAKS’ new restaurant represents a half million pound investment by its

Directors, Andrew Gibbs and Keith Bernard. With stunning sea views across

Douglas Bay on two sides, it has been decorated in a contemporary style

including with exposed brick, wood flooring and mood lighting.

A number of images of the Isle of Man and its landmarks decorate the walls –

all were taken by local photographer, Gary Harrison of ManxMania Photography.

Building work was completed over an eight month period by PS Construction.

Further development work is planned to transform the former downstairs

restaurant within the JAKS building; this will be unveiled in the autumn.

All meat served by JAKS is supplied by A&J Quality Butchers Limited, provider

of well-hung 28-day aged meat. This business was established in 2009 by JAKS

Director, Andrew Gibbs, and his partner in that business, John O’Connell.

The menu at JAKS features all of the restaurant’s old favourites, enhanced with

a few new surprises to celebrate the launch. This is complemented by an

extensive new wine list with choices to suit all tastes and budgets, as well as a

large choice of ales, spirits, cocktails and shooters.

Andrew Gibbs, Director of JAKS Bar & Steak House, commented: “Opening our

new restaurant at JAKS significantly increases our capacity to offer award-

winning home-cooked food at exceptional prices and, most importantly, allows

us to meet the expectation and demand of our customers whose loyalty led to

us outgrowing our former dining room.

“We have invested more than half a million pounds in to our new restaurant

and I believe re-investment in your business is vital if you want to continue

delivering what your customer wants and achieve success, especially in the current

economic climate. The restaurant space is completely separate from our bar, which

will continue to offer a huge choice of live sport and music on a weekly basis.

“I am already overwhelmed by just how popular the restaurant is and look

forward to welcoming current and new customers to Jaks to try it for themselves.”

JAKS director, Andrew Gibbs (left) with Guest of Honour Geoff Corkish MLCJAKS director, Andrew Gibbs (left) with Guest of Honour Geoff Corkish MLC

Guests fill JAKS Bar & Steak House onlaunch night event . . .

In association with

Book online: citywing.com

Depart Arrive M T W T F S S0730 0805 • • •0910 0940 •• •1110 1150 • • •1400 1440 •1600 1640 •••••1800 1840 •••

Isle of Man toBlackpoolDepart Arrive M T W T F S S0820 0855 • •••1010 1050 ••1210 1250 • • •1500 1540 •1700 1740 •••••1900 1940 •••

Blackpool to Isle of Man

Depart Arrive M T W T F S S0725 0800 ••• •0910 0945 • • •1110 1150 •• •1400 1440 •1600 16401800 1840 ••••• •

Isle of Man toBelfastDepart Arrive M T W T F S SBelfast to Isle of Man

0815 0850 ••• •1015 1050 • •••1210 1250 ••1500 1540 ••1700 1740 ••1900 1940 ••••• •

Depart Arrive M T W T F S S0740 0845 ••••0900 1010 •1100 1205 •1545 1655 •1710 1820 •••••

Isle of Man toGloucesterDepart Arrive M T W T F S S0905 1010 ••••1030 1140 •1225 1330 •1715 1825 •1840 1945 •••••

Gloucester to Isle of Man

Depart Arrive M T W T F S S1100 1200 •1415 1515 •• •

Isle of Man toNewcastleDepart Arrive M T W T F S S1240 1340 •1545 1645 •• •

Newcastle to Isle of Man

Tel. 0871 200 0440www.citywing.com

Tel. 0871 718 5000www.aerlingus.com

Tel. 0905 821 0905www.easyjet.com

Depart Arrive M T W T F S S1005 1045 •••••1755 1835 ••••• •

Isle of Man toDublinDepart Arrive M T W T F S S0855 0940 •••••1645 1730 ••••• •

Dublin to Isle of Man

Depart Arrive M T W T F S S0825 0850 •0850 0930 • ••1455 1535 •1700 1740 •••••1735 1815 •

Isle of Man toLiverpoolDepart Arrive M T W T F S SLiverpool to Isle of Man

0720 0800 •0745 0825 • ••1350 1430 •1555 1635 •••••1700 1740 •

Depart Arrive M T W T F S S1430 1550 •

Isle of Man toLondon GatwickDepart Arrive M T W T F S SLondon Gatwick to Isle of Man

1240 1415 •1635 1755 ••••• 1445 1610 •••••1800 1920 • 1605 1735 •

Tel. 0844 493 0787www.ba.com

Depart Arrive M T W T F S S0730 0845 ••••••1300 1415 ••••• •1745 1900 ••••• •

Isle of Man toLondon CityDepart Arrive M T W T F S S0915 1030 ••••••1450 1605 ••••• •1930 2045 ••••• •

London City to Isle of Man

30

Isle of Man Airport Contact Information

Information Desk 01624 821600

Administration 01624 821601 (9-5 Mon-Fri)

Facsimile 01624 821611

Email admin@iom-airport.com

Website www.iom-airport.com

IOM Customs & Excise 01624 648110

Airport Security 01624 821612 (24 Hours)

Restaurant and Bar 01624 823538 (Caterleisure Ltd)

Airport Advertising 01624 620440 (IOM Advertising)Car Hire Athol Car Hire

01624 820092 www.athol.co.im

Mylchreests01624 823533 www.mylchreests.com

IOM Rent-a-Car01624 825855 www.iomrac.com

Tel. 01392 268529www.flybe.com

Depart Arrive M T W T F S S0835 0930 •••••1155 1250 •1920 2015 ••••• •

Isle of Man toBirminghamDepart Arrive M T W T F S S0715 0810 •••••0755 0850 •1800 1855 ••••• •

Birmingham to Isle of Man

Depart Arrive M T W T F S S1325 1425 • •1350 1450 •

Isle of Man toBristolDepart Arrive M T W T F S S1450 1555 • •1515 1620 •

Bristol to Isle of ManDepart Arrive M T W T F S S0705 0755 ••••••0915 1005 •0920 1010 •••••

Isle of Man toManchesterDepart Arrive M T W T F S S0840 0925 •• •••1035 1120 •••••1045 1130

1010 1100 • 1125 1210 •1335 1425 • • 1450 1535 •1515 1605 ••••• 1655 1740 ••••• •1605 1655 • 1920 1805 •1850 1940 ••••• • 1900 1945 •2010 2100 • 2025 2110 ••••• •

Manchester to Isle of Man

Depart Arrive M T W T F S S0645 0820 ••••••0755 0920 •0950 1115 ••••••

Isle of Man toLondon GatwickDepart Arrive M T W T F S S0855 1025 ••••••0955 1125 •1145 1315 •••••

1350 1515 ••••• • 1545 1710 ••••• •1715 1840 • 1605 1730 •1735 1900 ••••• • 1930 2100 ••••• •

London Gatwick to Isle of Man

Depart Arrive M T W T F S S0700 0740 ••••••0935 1015 •1050 1130 • ••

Isle of Man toLiverpoolDepart Arrive M T W T F S S0815 0855 ••••••1040 1120 •1155 1235 • ••

1130 1210 • 1235 1315 •1620 1700 ••••• • 1725 1805 ••••• •1845 1925 • 1950 2030 •1850 1930 ••••• • 1955 2035 ••••• •

Liverpool to Isle of Man

BELFAST BLACKPOOL GLOUCESTER NEWCASTLE

31

Depart Arrive M T W T F S S1205 1325 •1210 1330 •

Isle of Man toNorwichDepart Arrive M T W T F S S1400 1520 •1405 1525 •

Norwich to Isle of Man

Depart Arrive M T W T F S S1155 1310 • •1235 1350 •

Isle of Man toSouthamptonDepart Arrive M T W T F S S1335 1450 • •1415 1530 •

Southampton to Isle of Man

Depart Arrive M T W T F S S1155 1310 •1205 1315 • • •1250 1405 •

Isle of Man toLutonDepart Arrive M T W T F S S1340 1450 • • •1430 1545 •1440 1555 •

1300 1415 • 1705 1820 •

Luton to Isle of Man

Some of the destinations listed in these schedules are seasonal and apply only to certain times ofthe year. If in any doubt, please check with the individual airline for confirmation.

Short Stay Long Stay Car Park Car Park

0 – 60 minutes Free FreeUp to 02 hours £1.50 £1.00Up to 04 hours £2.50 £2.00Up to 08 hours £4.50 £4.00Up to 12 hours £6.50 £6.00Up to 16 hours £10.00 £9.00Up to 24 hours £13.00 £12.50Up to 02 days £19.00 £16.50Up to 03 days £25.00 £20.50Up to 04 days £31.00 £24.50Up to 05 days £37.00 £28.50Up to 06 days £43.00 £32.50Up to 07 days £49.00 £36.50

Isle of Man Airport Car Park Charges

Bonobo are the operators of

lottorace.com which is a free to

play game enjoyed by more than

one million users on Facebook

and with more than one billion

virtual bets made so far. Vivant

Ltd is a leading digital ideas

company based in Sydney,

Australia, and the operator of

jaro.com - the ‘$1billion game for

good’ – which aims to raise

millions of dollars for charities via

a simple pay to play game. Jaro,

which stands for ‘join all and

remain one’, has the potential to

be the biggest annual fundraising

event in the world. Players join to

take part in a simple numerical

guessing game for a $10 fee, and

then decide how much of that fee

will go towards charity, and how

much towards the final prize total

that will be won by one of the

players.

Promoting Manx Telecom at

international eGaming and eBusiness

expos is a key to attracting such clients.

The company has been represented at

three expos in Macau since December

2012 and Fergal McKenna, Manx

Telecom Sales Director, attended ICE

Totally Gaming in London earlier this

year. He says: “We tend to come back a

good number of leads from each expo

– and those leads, over the next 12 to

18 months, convert to the Isle of Man.

We are in a unique position on the

Island in that we have a fantastic

infrastructure; we own data centres,

fibre in the ground, and a mobile

network. No other company here can

say that. Having this unique position

makes it easier for us to design, deploy,

and support new technologies such as

virtual servers and virtual desktop

solutions. For companies which value

round-the-clock support, and which

have a global business, Manx Telecom

is the automatic choice for them.”

McKenna says that Big Data are the

main buzz words at major expos right

now – that basically means sets of data

from a number of sources, so large that

the average computing tools can’t

manage or process them. Big Data

requires massive amounts of computing

power, and the average company isn’t

equipped to handle such specialised

needs, meaning that managed service

providers – such as Manx Telecom - are

stepping up to fill these gaps. “Helping

companies to understand Big Data and

use it to create value within their own

businesses is an area that we’re getting

into. Being able to handle Big Data

effectively can play an important role in

customer acquisition, customer

retention, and monetization in

eGaming.”

Our IntelligentCloud platform

has theflexibility to beintegrated into

existinginfrastructureand this is the

type ofpartnershipwhich we

expect to seemuch more ofin the next few

years

32

HOSTING

Manx Telecom has built a global reputation as a trusted hosting providerfor some of the biggest eGaming brands such as PokerStars, Full TiltPoker, and Paddy Power. Clients range from start-ups to the world’slargest poker sites and Europe’s biggest bookmaker. Two of ManxTelecom’s newest clients - Bonobo plc and Vivant Ltd - are among themost innovative and rapidly growing gaming businesses.

Manx Telecom and eGaming:the perfect match

Fergal McKenna

Mobile betting is another major

growth area with analysts predicting

that the market could be worth around

$50bn by 2015. McKenna says: “Much

discussion has centred on the fact that

mobile users expect pages and online

content to load quickly - therefore

mobile betting sites focus on a more

streamlined process to engage

customers given the limitations of the

networks in delivering richer data to the

device. 4G mobile broadband – which

is able to provide super-fast mobile

broadband with speeds comparable to

those currently only available on fixed

line broadband – allows eGaming

operators and their customers to stream

HD video to mobiles and tablets, and

provides an enhanced experience for

interactive gaming and any application

that users currently experience at home

or in the office. As the potential of 4G

continues to be developed, we believe

the real winners in the mobile arena will

not only be those that look at their own

company’s technical mobile internet

infrastructure and hosting or data

centre requirements, but also those

eGaming operators that partner with

mobile telecoms providers which

operate the backbone network.

Partnering with such a telecoms

provider, and particularly one which has

years of experience in telecoms in the

international market and eGaming

sector, means that businesses can

leverage from that know-how. At Manx

Telecom our experience of working with

big name eGaming brands proves that

such a partnership can be a winning

combination for any operator.”

As an example of this trend,

McKenna cites Manx Telecom’s work

with Vivant Ltd. “Although we’re half

way round the world from Vivant’s HQ,

they regard our team as an extension

of their own. Our Intelligent Cloud

platform has the flexibility to be

integrated into existing infrastructure

and this is the type of partnership which

we expect to see much more of in the

next few years.”

eGaming now accounts for 8% of

the Isle of Man’s GDP with around 700

employees in the sector. While the

eGaming sector is undoubtedly an

important one, he says there is a bigger

picture to consider. “Manx Telecom’s

continued success in the eGaming

sector is obviously a welcome

contribution with the jobs that it creates

and the boost it provides to the Island’s

economy. But increasingly we are

looking at working with the Department

of Economic Development to take the

global reputation Manx Telecom has

and use it to attract entrepreneurs in a

wide range of other sectors who can

bring inward investment and

employment to the Island. We have a

telecoms and IT infrastructure which is

truly world class – and our experience

of working with leading eGaming

brands shows the resilience and

reliability of our network and data

centres.”

McKenna graduated from Trinity

College Dublin with a BSc in

Management and has spent his career

working in IT and telecommunications.

He moved to the Isle of Man from the

Republic of Ireland with his wife and

their two young children in early 2012.

It was a big commitment for him and

his family, but the right decision due to

the opportunities offered by Manx

Telecom and the quality of life on the

Island. Having first-hand experience of

moving to the Island to pursue his

career, Fergal finds that he is able to

draw on these experiences when talking

to entrepreneurs considering making

the same transition. He says: “In the

case of entrepreneurs from owner-led

businesses, the lifestyle that they and

their families can lead on the Island is

a very important factor. Finding a good

school for their children, for example,

can be just as important to them as any

of the business advantages that the

Island offers. Rather than just focusing

on what we do as a telco, we introduce

them to like-minded people and

existing customers already on Island, so

they can appreciate how the Isle of Man

can provide them with the ideal

work/life balance. It’s not all bits, bytes,

and data centres.”

33

Douglas North Data Centre

MEDIA

In recent months, with the

passing of Margaret Thatcher,

there has been an increased

interest in the 70s and 80s.

Being a child of the 50’s my

formative years were spent in the 70’s

and I watched all three terms of Lady

Thatcher’s ‘reign’. Now I am really not

a particularly political animal in any

way and I have my views on the policies

of the Thatcher era, but this is not the

place to discuss those. Suffice it to say

that I did agree with the ‘every one can

make it on their own’ American-style

initiatives in moderation.

Looking back at news reel from the

era it is hard to believe that some

events such as miners rioting, the three-

day working week and regular power

cuts actually happened. To be honest,

most of this passed me by at the time -

maybe we just accepted it as ‘the norm’

as we had grown up with it.

Regardless, I do have fond memories of

those times as it was the start of some

great music, especially at the end of the

70’s and the early 80’s as the heady

days of ‘Glam Rock’ was superseded by

the ‘New Romantics’ et all.

In those days I spent a lot of time

working in London where the

‘Yuppie’(Young Urban Professional) car

of choice was the Porsche 911 and the

wine bar culture blossomed throughout

the Capital city. Amidst all this

companies were starting to change

people’s buying habits. This was far

more than marketing, it was actually

looking at what people purchased and

working out how products could be

used to encourage changes in

purchasing behaviour. This was not

particularly sophisticated at the time

but there were some major successes.

I had a week off work last week and

spent most of it in my rather overgrown

garden fighting with assorted weeds,

draining smelly fish ponds, and mowing

lawns as one does. As a reward for my

efforts the lady of the house brought out

some ice cold beers. Now these were

not just any old beers, they were Sol

Mexican beers! Seeing one of these for

the first time in nearly 30 years took me

straight back to a wine bar in

Manchester I used to frequent in a

previous life. Now there were a lot of

bottled beers to choose from in wine

bars in the hedonistic money making

days of the 80s (and there still are) but

none sold as well as Sol did.

The trick Sol came up with was to

change the way people drank their beer.

It was a bonker’s simple concept - bin

the glass to pour the beer into and stick

a wedge of lime in the neck of the

bottle! I was told at the time that

establishments selling Sol were only

allowed to do so if they presented the

product in this way. So one would walk

into a wine bar full of people holding

bottles of Sol (recommendation is

always the best form of advertising) and

drinking them straight out of the bottle

with lime sticking out of the top! So

peoples purchasing behaviour was

changed - they no longer expected a

glass, they thought the drink was cool

and (arguably), they looked cool

drinking it.

Now like all fads, the Sol

phenomenon fizzled out after a couple

of years but it certainly put the drink on

the map in the UK at the time. So, in

reality, what the Sol people had actually

done was make their product different

and possibly more exciting than all the

other bottled beers on the market - not

bad for the cost of a slice of lime, and

the bar staff had no glasses to wash

either!

It’s an object lesson of simplicity,

which most of the best ideas are, so why

not have a look at your business or

service and think how people purchase

it from you and your competitors at the

moment. Is there something simple that

you can do to bring attention to the fact

that you do things differently to the

others and change people’s purchasing

habits?

The key to this is to question the

way you deliver your product or service

now. So many times I hear ‘well that’s

the way we have always done it’ or

‘That’s the way it works in this industry’.

That attitude will keep you in the ‘also

ran’ category - if the ‘Sol boys’ had

thought that way the drink would

probably have been ‘just another beer

on the shelf’ among many others.

Because it is a simple concept it

may be more difficult to identify. But

when you crack it you will leave all the

others in your wake.

So what is ‘The slice of lime’ that is

going to energise your business . . ?

ByJohn Marsom,

Business Director,Manx Radio

34

Changing people’spurchasing habits

EVENT

The course was in excellent

condition benefiting from the

hard work the green keepers put

in for hosting the Isle of Man Golf

Championships. The fairways

smooth, the rough generous and

the greens running fast but true.

This year’s competition is split into

two categories – Seniors (aged 50-64)

and Super Seniors (65+). Prizes for

best individual score in both Senior and

Super Seniors will be awarded; and this

year, to add to the excitement there will

be a prize for the best team score. The

players arrived to receive a welcome

gift for taking part along with the usual

warm KHG hospitality, with coffee and

pastries before a shot gun start at 1pm.

The scores reflected the good

weather but took into account at times

the windy conditions, which

accompanied by the fast greens proved

a challenge to a number of the players.

The race for the KHG Senior and Super

Senior Open Champion, (the best

combined score over the 3 events) has

Gareth Jones taking an early lead with

a fantastic score of 44 points in the

senior event and Pauline Merrill with

an impressive 39 points leading in the

super senior. The nearest the pin winner

on the 8th hole was Rab Miller.

Stewart Quayle, business

development manager said “It was a

great start to this year’s tournament

and I would like to thank all the players

for taking part along with the team

from Creechurch Capital for

all their hard work in

organising the tournament”

The next stage of the

tournament takes place at

Rowany on the 1st August

and the final stage along

with the Prize Presentations

and buffet meal is being held at

Ramsey on the 5th September. At the

final round in Ramsey, the golfers will

be joined by two special guests. His

Excellency Lieutenant Governor Adam

Wood and Creechurch Sports Academy

member Charlotte Wild who is currently

taking part in the Ladies European Let

Access tour.

KHG Funds is an Isle of

Man innovative fund range

investment managed by

Creechurch Capital – the

boutique discretionary fund

manager based in

Douglas. John Greenwood,

Chief Executive Officer at

Creechurch, added: “Following the

exceptional success of 2011 and

2012’s competitions, we continue to be

committed to supporting the local

community and this competition proved

a very positive way to introduce the

KHG range and the wider Creechurch

Capital services to the island’s

residents.”

The series is designed to provide a

competitive platform and also an

opportunity for senior golfers from

around the island to participate in an

enjoyable social event. The KHG Senior

Open Golf organisers would like to

thank the competitors, and Mike Vipond

at Douglas Golf Course for making the

inaugural event a great success. For

more information please contact either

Debbie Gardiner or Christine Novak on

653800 or visit www.khgfunds.com for

a full results breakdown.

36

KHG Senior andSuper Senior Open returnsThe first leg of the KHG Funds Senior and Super Seniors Open washeld at Douglas Golf Club on 4th July and started with over 70 playersplaying in glorious sunshine, with a strong westerly wind . . .

Eric Corkish, Pauline Merrill, Roy Merrill and Calvin Quayle

Jim Boyd, Geoff Karran and Ernie Russell

Roger Butler, Joy Phelan, Arthur Molloy of Creechurch Capital,Wendy Hogan and Bryan Waddington

Eric Corkish, Pauline Merrill, Roy Merrill and Calvin Quayle

INVESTMENT

A sobering thought: aparty without apunchbowl?

According to William McChesney

Martin, the longest-serving (1951-

1970) Chairman of the Federal

Reserve, it is central banks’ job to “take

away the punchbowl just as the party

gets going”. The current party has been

a pretty subdued affair, and that

punchbowl has had to have some

unconventional contents, but at some

stage, as usual, investors are going to

have to face the future clear-headed.

That stage is probably still some

months away. The eurozone economy is

still best described as flatlining. The UK

economy has only just escaped its

possible ‘triple dip’ (whether it would

have been a meaningful dip is another

matter). China has yet to convince that

its structural deceleration is behind us,

and Japan to demonstrate that a

structural acceleration lies ahead.

Meanwhile, the US economy faces a

second quarter slowdown, with

unemployment still a percentage point

above the level at which the Fed has

said it will start to take a more hawkish

line.

But as we see it, the economic

debate is slowly moving on. The euro

crisis has failed to flare up again (we’d

thought it wouldn’t) in the face of

setbacks in Italy and Cyprus, and the

latest eurozone business surveys show

activity stabilising (albeit at low levels).

The short-term data at least in both

China and Japan have been

encouragingly resilient. The last

month’s news has shown that the US

consumer – still customer number one

for global business – is clearly capable

not just of “life after debt” but also of

“life after Reinhart and Rogoff”, and in

the meantime the US government’s

deficit has been shrinking far faster

than the pessimists had imagined,

loosening another potential brake on

growth in the cycle ahead. Even the

Governor of the Bank of England has

been sounding relatively cheerful of

late, though he may of course be

demob happy.

This should be good news for

businesses and people, if bad news for

bonds. But not all pundits see things

quite this way. Many argue that the

progress made to date is entirely down

to the special measures – negligible

interest rates and bags of quantitative

easing (QE) – taken by the major

central banks, and that if these are

withdrawn, we’ll rapidly return to the

brink of the abyss we escaped in early

2009.

We think this is too pessimistic. To

extend the party analogy, we think it is

possible for investors to have a decent

time sober. The resumed post-crisis

growth in economies and profits has

coincided with ongoing QE, but has not

necessarily been caused by it. In some

instances, very visibly it can’t have

been. For example, the bulk of the

rebound in US corporate profits has

simply reflected the arithmetic

contribution from the ending of

financial sector write-downs, which had

nothing directly to do with QE. The

surge in Japan’s GDP in the first

quarter of this year, we would suggest,

is unlikely to have been driven by the

admittedly impressive wave of pending

QE announced in early April. More

generally, the trend traced by the level

of nominal US consumer spending has

been virtually indistinguishable to the

naked eye from that traced

immediately ahead of the monetary

seizure triggered by the collapse of

Lehman in 2008.

The perma bears may have

overlooked an important fact of

economic life. Growth is the norm, not

the exception, and in the long term is

driven by real magnitudes – the labour,

resources, technology and

organizational know-how at our

disposal – and not by financial balance

sheets (which in any case are not as

fragile as feared).

For sure, QE – and lower interest

rates – helped to save the financial

world back in the crisis: if central banks

hadn’t acted as they did, monetary

collapse and Depression might well

have loomed. But to attribute all of the

recovery since then to their continued

support is a little like saying that the

crash barriers that prevent you from

ByKevin Gardiner,

Chief InvestmentOfficer EMEA,

Barclays

38

A good time soberThe global economy is growing, the euro crisis seems contained andrisk appetite is edging higher. The uncertainties facing investors areresolving into a single question: is all this just the result of central banksupport, or is there some substance behind the stock market’s rally?We think the latter. When monetary conditions normalize we expect atactical setback, not a strategic one. Short-term noise aside, we doubtthat is imminent.

Growth is thenorm, not theexception, andin the long termis driven by realmagnitudes -the labour,resources,

technology andorganizationalknow-how atour disposal -

and not byfinancial

balance sheets

www.dhl.co.uk Tel: 01624 661122

Next Day to UK, Europe and the USA.

leaving the road are responsible for you

making headway along it. At the risk of

stretching the metaphor beyond

breaking point, central banks’ stance

currently is not quite economic life

support, and the patient will be capable

of surviving it being switched off.

This theory is probably not going to

be put to the test soon: we see interest

rates staying on hold for many months

yet, and US and Japanese QE

continuing into H2 (indeed, the bank

of Japan has of course really only just

begun its new, revamped QE). When

the support is withdrawn, however,

some market volatility is likely –

sufficient for us to anticipate trying

tactically to reorient investor portfolios

ahead of it.

We do not expect the sort of

dramatic, prolonged reversal that

followed the last two stock market

surges, which peaked in 2000 and

2007. As noted, QE is only partly

responsible for stocks’ rally. Valuations

are lower now, and there are surely

fewer excesses in the system. Moreover,

if we disentangle current yield curves,

we can see that some normalization is

of course already firmly priced-in to

money markets: forward curves in the

US, the UK and even the more

sluggish, disinflationary eurozone show

forward interest rates starting to rise in

around a year’s time.

Nonetheless, it will likely be a

bumpy ride, particularly if central banks

act sooner than the money markets

currently expect. This will add to the

already striking parallels with the mid

1990s. Then, a tightening of policy by

the Federal reserve had a potent

tactical impact on both bond and stock

markets, before investors settled down

to the realization that the global

economy could indeed continue to

grow. Around the same time, as now,

we saw developed markets and the

dollar assume cyclical leadership from

the emerging world and commodities

– trends that are already reflected in

our current investment advice.

Meanwhile, beyond the probability

of a short-term chart-driven pull back,

our advice is again unchanged this

month. Developed equities remain

inexpensive, and until central banks

take that punchbowl away a more

meaningful tactical setback still feels

unlikely. Being tactically overweight

stocks, remember, doesn’t mean we

expect them to continue to rise apace

– simply that we think their risk-

adjusted 3-6 month returns will exceed

those on other assets. Since equity

yields are higher than on most other

assets, this can happen even if prices

do little more than mark time in the

rest of 2013 – particularly if, as we

We do notexpect the sort

of dramatic,prolonged

reversal thatfollowed the

last two stockmarket surges,which peakedin 2000 and

2007. Asnoted, QE isonly partly

responsible forstocks’ rally.

39

MW: Jane is a 42-year-old mother of

two. Originally born in Australia, Jane

currently calls the UK home, where she

lives in an apartment in central London

with her husband and two daughters.

Today, Jane’s Facebook mobile newsfeed

alerted her to a post inviting her to play

online poker, even though she has never

understood the game, nor would

consider herself an online gamer.

Yesterday she received her weekly

mobile coupon for her local supermarket,

yet she does the majority of her shopping

online, opting to have it delivered to her

house – a service she’s used for many

years. Friday will mark the third year she

has been receiving emails about the

National Lottery, despite the fact that she

has never bought a ticket; her fourteen-

year-old daughter happened to stumble

across their website – three years ago.

And an Australian Airline continues to

send her monthly updates explaining

deals on flights from Sydney to Perth,

despite her having lived in the United

Kingdom for eight years.

AM: Much like trying to sell life

insurance to a 12-year-old boy, the

advertising efforts of these companies

are falling on deaf ears. By not

understanding their customers – who

they are and how they interact with the

company’s brand or product – such

companies are missing out. But

knowing your customers does not need

to involve as much information as

Edward Snowden claims the CIA has

collected. A simple process of profiling

your customers into different

personality types will help to categorise

them and create a 360-degree

customer profile that will ultimately

assist your company with more

targeted, and thus successful,

marketing strategies. So what is

customer profiling? The short answer is

that it is a way to create a readily

identifiable sketch of your customers in

order to clearly understand the way

they interact with your brand. The long

answer is somewhat more detailed.

Allow us to explain.

MW: Customer profiling is the marketing

equivalent of a psychologists criminal

profiling. Criminal profiling is a

behavioural and investigative tool that

is intended to help investigators to

accurately predict and profile the

characteristics of unknown criminal

subjects or offenders. In the same way

that knowing about your customers

preferences enables you to engage with

them, finding out about your customers’

preferences is the essential first step in

getting them hooked on your brand.

Start by considering what you already

know about your existing customers.

Creating customer profiles involves

making use of all the available data of

customers to create a description of a

customer or certain set of customers.

Combining their demographic profile -

a description of their physical status

including age, gender, marital status,

income, race, ethnicity and so on - with

a customer’s psychographic or

behavioural profile – their buying

patterns, creditworthiness, their

purchase history and potential future

spending – will assist in creating a 360-

degree customer profile that is easy to

understand and interact with.

AM: The benefits of taking the time to

fully understand your customers and

categorise them into useable profiles are

invaluable. With a specific profile in mind,

a company can analyse whether Jane’s

particular needs and expectations are

being met; and then design products,

services or marketing strategies to target

her specifically. Ultimately, targeted

marketing messages and more

personalised interactive experiences in

retail stores are more likely to penetrate

the ‘noise’ of Jane’s busy lifestyle.

MW: Most importantly, profiling existing

customers can be directly linked to an

increase in sales.

Using customer profiles to recognise your

company’s best and worst customers,

means that more targeted marketing

strategies and business activity can be

implemented to appeal to specific

customer profiles in a way that makes

sense to them. Once you know what

your customer’s needs are, you’re in a

better position to present them with a

product or service offering that meets

those needs. It is also easier to spot

opportunities to upsell, by explaining why

a higher priced product would better suit

them. And if birds of a feather do indeed

flock together, an accurate understanding

of your most valued customers – their

needs, expectations, buying patterns and

purchase history – will assist in

recognising similar prospects, providing

an opportunity to sell to them in a similar

way.

AM: As with all good things, there are

certain considerations to take into

account before you go about Facebook-

40

PR

Customer Profiling

Annie MacLeod Moya Wilson

41

stalking your customer or client base.

Profiling your customers into groups

because they are demographically

similar or based on common interests

is walking a fine line. Creating

customer profiles is about making use

of available information in order better

to understand your customers. It

should not be a process of generalising

or stereotyping. Similarly, profiles are

not designed to replace general

marketing demographics, but should

rather be used as additional

information better to understand one’s

customers.

Bear in mind, too, that customer

profiling is designed to help identify a

company’s most valued customers in

order to personalise marketing and

increase sales, but it is often the ‘low

value’ customers who require more

attention. In targeting the consumers

that are most likely to purchase your

product or service, be careful not to

ignore the other sectors, clusters or

profiles who may require some special

attention, a sympathetic shoulder to cry

on, or an ear to bend.

MW: As such, embarking on a process of

profiling your customers requires more

than just a “Gung-ho, let’s go!” There are

some careful considerations that need to

be made before painting any customer

portraits, as with criminal profiling,

where incorrect profiling can lead to

investigators finding a suspect who

appears to fit an incorrect profile and

ignore or stop investigating other

potential leads. Before getting started,

create a database of information about

existing customers by consolidating as

much information as possible from a

variety of sources. Analyse sales records,

make use of marketing and sales staff

customer knowledge, scrutinise research

reports and articles, communicate

directly with customers and carry out

surveys. The more information you

acquire, the better, but be mindful that

the information is relevant to both your

company and your marketing intentions.

Your type of business will determine the

information that you collect. For

example, if your company is considered

a B2C (business-to-consumer)

operation, knowing your customer’s age,

gender, location, income and spending

habits will be relevant to their customer

profiles. If your company is considered

B2B (business-to-business), get to know

your clients company: their sector, size,

spending power and other suppliers.

AM: Similarly, keep the intention of your

own company at the forefront of your

mind when creating profiles of your

customers. If increasing the average

revenue per customer is your intention,

focus on existing customers, and how

better to appeal to them on a more

personal level. However, if you are

expanding into a new market segment,

or launching a new product, creating a

hypothetical profile of prospective

customers will give your future

marketing strategies direction and focus.

MW: Typically, whether your customers

are other businesses or individual

consumers, they can be separated into

two categories – the decision-makers

who are the spenders (the CEOs, and

Directors of companies and Mums –

that’s right, Dads), and the decision-

influencers (a company’s board

members and management teams or

the teenagers of a family) who have a

significant influence on those decision-

makers. Take the time to understand the

specific characteristics of each category

and the relationship between them. This

will assist your company with identifying

who your marketing strategies are

aimed at, and how to appeal to them.

AM: And so, in the spirit of any good

“profiler”, allow us to provide some

parting words of wisdom: Take the time

to make accurate and relevant customer

profiles. Many significant future

business decisions will be based on your

understanding of who your customers

are, and how they interact with your

product or brand – do not rush the

process. And finally, customer profiles,

like the people they represent, are of

little use in a box on a shelf. Update,

interact and make use of your newly

established customer profiles often in

order to keep up to date with who your

customers are and you will find reap

the benefits.

42

WEALTH

Nearly half ofHNWIs in theUK agree thatwealth can becreated fastertoday than in

the past,although incontrast thenumber of

Indianrespondents

who agree withthis statementis nearly double

this

Three times more (45%) UK high net worth individuals (HNWIs) citeone of their main sources of wealth as entrepreneurship thaninheritance (14%), according to latest edition of Barclays WealthInsights, reflecting the changing order of wealth creation in the UK

They work hard for the money . . .

Entrepreneurship is the most

prevalent source of wealth in the

UK, the latest report in the

Barclays Wealth Insights series

reveals, as 45% of UK HNWIs say

one of their main sources of

wealth was the sale of, and/or

the profits from a business,

compared to 14% who say it is

inheritance. Globally, 40% of

HNWIs cite entrepreneurship as

one of their main sources of

wealth, whilst 26% cite

inheritance.

The finding reflects expert views

that the growth of global wealth is now

being driven by entrepreneurship,

rather than inheritance, as

entrepreneurs are found to accumulate

wealth faster than HNWIs who have

made their money through earnings,

bonuses or inheritance. It took

entrepreneurs and business owners an

average of 16 years to accumulate

their wealth, compared to 23 years for

other HNWIs.

Based on a global survey of more

than 2,000 HNWIs comprising

entrepreneurs, business leaders and

investors, the report, Origins and

Legacy: The Changing Order of Wealth

Creation, provides an in-depth study

into how wealth is now being made,

spent and shared across the world. The

report navigates the global landscape

of wealth, examining how different

cultures prepare for the future and

consider their legacy through wealth

and inheritance planning and

philanthropy.

43

Highlighting the change in global

wealth and entrepreneurship, the

report finds that wealth is being

created twice as quickly in developing

regions, such as Asia Pacific and Africa,

where it takes HNWIs an average of

12 and 16 years respectively to

accumulate their wealth, compared to

more developed markets, such as the

US and Europe, where it takes an

average of 28 years and 23 years

respectively.

In the UK, nearly one in five

(17%) of high net worth respondents

reported that they had accumulated

the majority of their wealth in under

10 years. In line with this, nearly half

of HNWIs in the UK (45%) agree that

wealth can be created faster today

than in the past, although in contrast

the number of Indian respondents who

agree with this statement is nearly

double this (84%).

Entrepreneurship plays a crucial

part in this shift of wealth from the old

world to new, the report shows, with

HNWIs in India (59%) and South

Africa (68%), more likely to have

made their wealth from the sale of a

business and/or business profits than

those in more developed markets such

as the US (21%), Japan (35%) and

the UK (45%).

Further reflecting how the route to

wealth is changing, the report reveals

that technology and property are now

the fastest global growth areas for

wealth, especially in emerging

markets. The average time it takes

those in emerging markets to

accumulate their wealth is 11 years for

those involved in the technology

sector, and 10 years for those citing

their source of wealth as property,

compared to 13 years for those in

different sectors. These averages rise in

developed markets to nearly 15 years

for technology and 19 years for

property, compared to 20 years for

those in other industries.

From source to legacyAs entrepreneurial wealth increases

and fortunes are made at a more rapid

rate than ever before, the report

suggests that the challenges facing

newly wealthy individuals and families

needing to plan for the future have

become more acute.

Many HNWIs around the world

now prefer to give their money to

family and friends and charitable

causes in their lifetime rather than as

inheritance, seeing their wealth as an

‘enabler’. This trend is especially

prevalent in emerging markets and

amongst entrepreneurs, with 42% of

HNWIs in Qatar planning to give

100% of their wealth away to family,

friends and charity during their

lifetime, compared to just 5% of UK

respondents.

Meanwhile, 40% of global

entrepreneurs and business owners

plan to give to charity and 23% to

family and friends during their lifetime,

compared to 17% and 20%

respectively who are planning to do it

through inheritance.

Commenting on the findings,

Simon Scott, Managing Director of

Barclays Private Clients International,

said: “We see strong differences in how

wealthy individuals around the world

use their wealth to help the next

generation. Those who have made their

money through business in more

developed markets, such as the UK,

would prefer the next generation to

carve out their own path, rather than

disrupt the entrepreneurial cycle and

discourage the entrepreneurial spirit by

simply having wealth handed down to

them.”

He continued: “Wealth creators in

emerging markets, however, very much

see their money as an enabler for their

family and to the wider wealth cycle.

They want to pass their wealth down

and leave their business as a legacy for

future generations. ”

Impact on philanthropyIn addition to the nature of the

legacy left behind, the report finds that

the changing origin of wealth has an

impact on the motivations for global

HNWIs to become involved in

philanthropy. European respondents

tend to give to charitable causes out of

a sense of duty and responsibility, with

this being the case for 72% of wealthy

respondents in Spain, 69% in the UK

and Switzerland and 84% in Monaco.

Elsewhere, motivations such as the

personal fulfillment philanthropy brings

are more at play, especially in markets

such as China (71%), Latin America

(65%) and South Africa (56%).

The motivations for giving time

and money to charitable causes also

differ greatly depending on the source

of wealth; with entrepreneurs less likely

than those who have inherited wealth

to give to charity out of a sense of duty

and responsibility, but more likely to

donate out of a desire to leave a legacy.

Emma Turner, the Head of Client

Philanthropy at Barclays who visited

the Isle of Man in September last year

to address the Association of Corporate

Service Providers, explained: “There is

undoubtedly a different spirit to giving,

depending on how an individual has

accumulated their wealth. We often see

that for entrepreneurs and business

owners, passion can drive their

involvement in philanthropy. This group

of individuals tends to apply the same

business acumen, energy and drive that

have seen them become successful in

their endeavours to their chosen

causes. For those who have inherited

their wealth, however, philanthropy

often comes out of a sense of duty and

responsibility handed down by previous

generations. Therefore, maintaining

that legacy is important to them in

their charitable giving.”

The role of riskCompared with wealthy individuals

who have earned their wealth through

inheritance or savings over time,

entrepreneurs and business owners

tend to have a higher tolerance of risk.

As such, wealthy entrepreneurs are

more likely than those who have

inherited or acquired wealth through

savings to say that their wealth has

fluctuated a great deal over time. Over

half (53%) of global entrepreneurs

agreed with this statement, compared

to 43% of those who had inherited

their wealth and 46% of those who

built up their wealth through savings.

This tendency for wealth to

fluctuate is more dominant in certain

markets, indicating that while

globalisation and technology may have

made it easier for wealth to be

accumulated faster in recent times, it

can also be subject to highs and lows.

Individuals in markets such as UAE

(56%), Latin America (54%) and the

UK (49%) all agreed that their wealth

had fluctuated a great deal over time,

compared to countries such as Japan

(32%) and China (31%).

The report uncovers how HNWIs

who have experienced a drastic change

in their wealth situation — both

positive and negative — are more

likely to be philanthropic than those

who have experienced a more steady

financial position. A third of global

respondents who indicated that their

wealth had declined dramatically in the

recent economic downturn said

charitable giving was one of the top

three uses for their wealth, compared

to nearly a one in five (19%) whose

wealth has not changed during this

timeframe.

Simon Scott added: “The nuances

in why we accumulate and pass on

wealth can be subtle, but it is crucial

for us to understand them in order to

advise clients on wealth and legacy

planning. Often, those who have

inherited their wealth are more risk

averse. They see themselves as a

custodian of the wealth and their main

ambition is to protect it for future

generations. For those who have built

up their fortunes through the sale or

profits of a business, they are more in

tune to the rises and falls of the

business world and can be more

resilient to risk. They are often more

willing to take risks on smaller,

charitable organisations where they

can make a real impact, as they have

empathy towards, and often past

experience of, being in a similar

position.”

HOSPITALITY

44

We have an excellent business sector, which offers real value in a host

of different industries. But is that value alone enough to encourage

people to invest in the Isle of Man?

Decades, if not centuries of business experience suggests that presentation is

just as important to the ‘sale’. If you have a potential business partner, client or

investor coming to the Island, you may spend hours on your pitch PowerPoint; you

may buy a new suit; you may clean the whole office; you may get the nice biscuits

in the boardroom. But some things will remain out of your control, and have just

as big an impact.

Consider the hospitality sector. If you take them out for dinner, or put them up

in a hotel, they may well spend as long - or longer - at someone else’s establishment

than at your offices. This could determine your success as much as anything you

say or do. Are we, as an Island, putting enough into that sector? The Island needs

to give people looking to move their business here the impression that the tourism

and hospitality industry is thriving, or rather we need to make it the reality!

Companies looking to move to and invest in a different jurisdiction want somewhere

that is thriving - and not just in their chosen industry.

To an extent we are - tourism figures are on the increase and in 2012 the total

visitors spend amounted to a respectable £103 million. Over the last few years a

lot of nice new bars and restaurants have opened, and many of our pubs are being

renovated through substantial re-investment. Yet despite all of this, on the

international stage we sometimes still struggle to match the positive image of

equivalent jurisdictions such as Jersey. Why is this? Perhaps it is just a matter of

time, and of communicating those changes externally.

I don’t have all the answers, but I would encourage everyone to be mindful of

the role of hospitality in gaining business. For our part, we are continuing to invest

millions in making The Claremont a business class hotel the Island can be proud of.

Maybe we can help you land your next international pitch?

Grilled whole plaice with tomatoes, samphire and lemon

MethodFor the Plaice:Put the plaice on a tray lined with parchment paper, divide the butterbetween the two fish, sprinkle with salt and pepper and half the olive oil.Place under a hot grill for 1- 2 minutes until the fish starts to colour, thenmove to the oven, preheated to 180C, for 6 to 7 minutes until the fish iscooked. For the Tomatoes:While the fish is in the oven, quarter the tomato and remove the insides.Cut the tomato skins into 1cm strips and place into a bowl. Slice the shallotinto fine rings, dice the parsley and add both to the tomato, along with therest of the olive oil. Next, lightly blanch the samphire in boiling water for1 minute and add this to the bowl as well. Half the lemon and squeeze thejuice of 1 half into the bowl keeping the rest for garnish.

Serve as shown in picture. Enjoy!

IngredientsServes 2

• 2 8-10oz plaice• beef tomato• 25g samphire• 25ml olive oil• 1 shallot• 1 lemon • 25g parsley• Salt• Pepper• 10g butter

COAST RESTAURANTRECIPE OF THE MONTH

Hospitality sellsBy Mark Wilson, Managing Director, The Claremont Hotel

2013 Volkswagen Polo 1.2 TDiMatch Edition 3-door D e e pBlack Metallic, Anthracite Cloth Upholstery, Fitted with AirConditioning, iPod Connection, CD Player, Cruise Control,Front Fog Lights, 15” Alloy Wheels, DAB Digital Radio, PrivacyGlass, Park Distance Control, Just3,000 Miles Absolutely As New

2012 (June) Fiat 500 1.2Gucci Edition L i m -ited Edition, Sparkling White Metallic with Black and IvoryGucci Embossed Interior. Fitted with Climate Air Con, 16”Gucci White Alloy Wheels, Blue&Me Bluetooth with USB,Front Fog Lights, Stop&Start, CD Player, Remote Locking,Only 3,600 Miles From New

2012 Ford Fiesta 1.25Zetec 3-door FrozenWhite, Anthracite Cloth Upholstery, Fitted with Air Condi-tioning, 15” Alloy Wheels, Electric Heated Mirrors, Front FogLights, Rear Spoiler, Only 10,000 Miles From New, Full FordService History, Immaculate Condi-tion

2012 (Late) Toyota Aygo 1.0 VVT-iFire 3-door Tempest Black, Anthracite Cloth, Fitted with Air Condition-ing, Alloy Wheels, Privacy Glass, Front Foglights, LED run-ning Lights, CD Player, Remote Central Locking, CoveredJust 1,000 Miles Like New

2011 Ford Fiesta Edge1.4 TDCi 5-doorMoondust Silver Metallic, Charcoal Cloth Upholstery, Fittedwith Air Conditioning, Full Electric Pack including ElectricWindows, CD Player, Remote Lock-ing, Only 5,000 miles from New

2010 (Late) Nissan Qashqai 1.5 dci110bhp N-Tec Cayman Blue Metallic, Ambient Cloth, Fitted with Climate Con-trol, Panoramic Glass Roof, Satellite Navigation, Rear-ViewCamera, Privacy Glass, 18” Alloy Wheels, CD Player, Bluetooth,Folding Mirrors, Just 8,000 Miles, FullNissan Service History

2010 Renault Scenic iMusic1.5 DCiSilver metallic, Anthracite Cloth Upholstery, Fitted with17” Alloy Wheels, Full Electric Pack, Sunblinds, CD Player,Remote Locking, Rear Parking Sensors, Only 17,000 miles,in absolutely outstanding condition throughout. Must beSeen

2010 Ford Fiesta Style1.25 5-doorVision Blue with Charcoal Cloth Upholstery. Fitted with AirConditioning, CD Player, Electric Windows, Remote Lockingetc. 20,000 Miles and in Superb Condition Throughout

2009 Ford Fiesta2.0 ST P a n -ther Black Metallic, Anthracite Half Leather Upholstery, Fit-ted with Air Conditioning, CD Player, 17” Alloy Wheels, CDPlayer, ST Decals, Electric Win-dows, Electric Mirrors, Front FogLights.

2009 Nissan Micra 1.2Acenta 3-doorCafe Latte Metallic, Grey Velour Upholstery, Fitted with AirConditioning, CD Player, Alloy Wheels, Full Electric Pack in-cluding Electric Windows and Electric Mirrors, only 8,000Miles From New and in As NewCondition

2008 (Late) Mercedes-Benz C200 CDiElegance Auto Saloon Tenorite Grey Metallic, Alpaca Grey Leather, Fitted with Cli-mate Air Con, Cruise Control, CD Player, Bluetooth, 16” AlloyWheels, Park Distance Control, Dark Burr Walnut Trim, Only26,000 Miles From New, Full Mer-cedes-Benz Service History

2008 Nissan X-Trail 2.2 dciSport Manual Aruba Blue Pearl, Lightstone Cloth, Fitted with Climate Con-trol, CD Player, Privacy Glass, 16” Alloy Wheels, Cruise Con-trol, Front Fog Lights, Just 26,000Miles in As New Condition

2008 BMW 520D SEAutomatic SaloonSpace Grey Metallic, Black Dakota Leather Interior, Fittedwith Sports Seats, 19” Alloy Wheels, iDrive System, ClimateControlled Air Conditioning, Park Distance Control, PrivacyGlass, CD Player, Bluetooth, FrontFog Lights

2008 Renault Modus 1.6Initiale AutomaticDeep Champagne Metallic, Beige Leather Upholstery, Fittedwith Air Conditioning, CD Player, Alloy Wheels, Full ElectricPack including Electric Windows and Electric Mirrors,32,000 Miles and in Excellent Condition Throughout

2007 Toyota Yaris T31.4 5-doorIce Silver Metallic with Anthracite Cloth Upholstery, Fittedwith Air Conditioning, Alloy Wheels, CD Player, Full ElectricPack, Front Fog Lights, Remote Central Locking, 29,000Miles, Full Toyota Service History,Lovely Condition

2007 Renault Scenic 1.6Automatic 5-door MPV Electric Blue Metallic with Grey Cloth Upholstery. Fittedwith Air Conditioning, CD Player, Park Distance Control,Alloy Wheels, CD Player, 32,000Miles. A Versatile Family Car at anIncredible Price

2007 Ford Focus Zetec1.6 Automatic 3-door Ink Blue Metallic with Anathracite Cloth Upholstery, Fittedwith Air Conditioning, Alloy Wheels, Electric Windows, CDPlayer, Electric Pack. 26,000 Miles from New. Excellent Con-dition Throughout. Please Com-pare Our Price

2006 Toyota Corolla T31.4 5-door Anthracite Grey Metallic, Grey Cloth Upholstery, Fitted withAir Conditioning, Full Electric Pack including Electric Win-dows, CD Player, Alloy Wheels, Only 30,000 Miles, Oustand-ing Value

2005 Mini Cooper SConvertible (Chilli Pack) G l o s sBlack with Full Black Leather Upholstery, Fitted with ClimateAir Con, Heated Seats, 17” Graphite Bullet Alloy Wheels, BlackPower Hood, Chilli Pack, 55,000Miles, Full Service History

2004 Vauxhall Zafira 1.6Design 5-door 7-seatMPV in Moonstone Silver Metallic with 2-tone Cloth Uphol-stery. Fitted with Air Conditioning, Full Electric Pack includ-ing Electric Windows, CD Player, Remote Locking, LowMileage. Oustanding Value

2004 Ford KA 1.33-door S e -bring Red, Anathracite Cloth Upholstery, Fitted with ElectricWindows, CD Player and Offered with only 16,000 Milesfrom New. This Stylish Hatchback Delivers OutstandingMPG, Low Road Tax and Low Insurance. Please CompareOur Price

FINANCE PACKAGES 4 PART-EXCHANGE WELCOME 4 FRIENDLY SERVICE 4 NEW STOCK DAILY 4

£11,250 £64PER WEEK

£11,995 £68PER WEEK

£8,795 £50PER WEEK

£7,995 £45PER WEEK

£8,595 £49PER WEEK

£13,995 £79PER WEEK

£8,995 £51PER WEEK

£6,995 £38PER WEEK

£6,695 £36PER WEEK

£5,695 £32PER WEEK

£12,950 £73PER WEEK

£11,995 £68PER WEEK

£10,995 £62PER WEEK

£3,695 £21PER WEEK

£4,895 £28PER WEEK

£3,895 £22PER WEEK

£3,295 £19PER WEEK

£4,395 £25PER WEEK

£6,995 £40PER WEEK

£2,695 £16PER WEEK

£2,895 £17PER WEEK

2010 (Late) Nissan Qashqai 1.5 dci110bhp Acenta G r a n -ite Grey Metallic, Anthracite Cloth, Fitted with Climate Con-trolled Air Con, CD Player, Bluetooth, 17" Alloy Wheels,Cruise Control, Electric Folding Mirrors, Front Fog Lights,USB Port, Covered Just 6,000 Miles From New with Full Nis-san Service History, Immaculate Condition

£11,995 £68PER WEEK

2011 Nissan Qashqai 1.5 dci110bhp N-Tec Pearl Black Metallic, Ambient Cloth, Fitted with Climate Con-trol, Panoramic Glass Roof, Satellite Navigation, Rear-ViewCamera, Privacy Glass, 18” Onyx Alloy Wheels, CD Player, Blue-tooth, Folding Mirrors, Just 9,000 Miles, As New Condition, FullNissan Service History

£14,995 £85PER WEEK

OVER 40 QUALITY LOW MILEAGE CARS!

THIS WEEK’S QASHQAI SPECIAL OFFER . . .

%815858www.im8.co.im - COMING SOON

PLEASE COMPARE OUR PRICES!THE QUAYSIDE, DERBY ROAD, RAMSEY, ISLE OF MAN, IM8 1DA

REFERENCE

Alder Dodsworth & Co.,22 Athol Street,Douglas.Tel. +44 1624 622865

Ambitions Ltd,26 Finch Road,Douglas.Tel. +44 1624 614841

Baker Tilly Isle of Man, P.O. Box 952a Lord StreetDouglasTel. +44 1624 693900info@bakertillyiom.com

BDO (Isle of Man) LLC,Analyst House, 20-26 Peel Rd., Douglas.Tel. +44 1624 652000mail@pkfiom.com

Boothmans, Millennium House,Victoria Road, Douglas.Tel. +44 1624 611926bca@boothmans.com

Nicola Bowker & Co.,Commissioners Offices,New Road,Laxey.Tel. +44 1624 861271

Browne Craine & Co, Burleigh Manor, Peel Road, Douglas.Tel. +44 1624 629369burleigh_manor@mcb.net

Corlett & Co,Ellan Vannin Cottage,Baldrine.Tel. +44 1624 861060

Callin & Co, 6-7 Fort William,Head Road, Douglas.Tel. +44 1624 675528callin@manx.net

Callow Matthewman & Co,Atholl House,29/31, Hope Street, Douglas.Tel. +44 1624 622752Ramsey Office Tel 814494

John Clarke & Co,Ragnall House,Peel Road,Douglas.Tel. +44 1624 661821gentrex@mcb.net

R H Corkill & Co. Ltd,10 Auckland Terrace,Ramsey.Tel. +44 1624 816921

Ernst & Young,Rose House,51-59 Circular Road, Douglas.Tel. +44 1624 691800www.ey.com/im

Douglas & Co, Suite 2,Broadway House,8-10 Broadway,Douglas.Tel. +44 1624 628571

Edwards & Hartley, Peregrine House, Peel Road, Douglas.Tel. +44 1624 622302edwardsandhartley@manx.net

Evolution Accounting Ltd.,West Suite, Ragnall House,18 Peel Road,Douglas.Tel: +44 1624 611160accounting@evolution.co.im

J. C. Fargher,Ballafreer House,Union Mills.Tel. +44 1624 851190

Finnie & Co, 6, Goldie Terrace, Douglas.Tel. +44 1624 621523finnies@altavista.com

Crowe Morgan,8, St George’s Street,Douglas.Tel. +44 1624 665100admin@crowemorgan.co.im

Fowler & Co.,First Floor, Norton House,41 Arbory Street,Castletown.Tel. +44 1624 827848

Fryers Bell & Co, 27, Athol Street, Douglas.Tel. +44 1624 639850fryers_bell@manx.net

Galloway Smith & Co, 9, Hope Street, Douglas.Tel. +44 1624 661800ocs@advsys.co.uk

KPMG, Heritage Court,41, Athol Street, Douglas.Tel. +44 1624 681000mfayle@kpmg.com

Greystone LLC,18 Athol Street,Douglas.Tel +44 1624 620711mail@greystone.im

Haven Administration Ltd,28 Victoria Street,Douglas.Tel. +44 1624 625793

Harding Lewis Ltd,34 Athol Street,Douglas.Tel +44 1624 679524

A. M Gerrard,34 Athol Street,Douglas.Tel +44 7624 490720

K G Hegarty & Co.,Peregrine House, Peel Road, Douglas.Tel. +44 1624 622118

HF Accounts,Fairview,Cronk Road,Port St Mary.Tel. +44 1624 835735

ICM Accounting,Prospect Chambers,Prospect Hill,Douglas.Tel +44 1624 682400

In Safe Hands Business Services75 Bucks RoadDouglas,IM1 3EFTel. +44 1624616133contact@insafehands.im

J B Quirk BSc FCCA,Milbourn House13 St. George's StreetDouglas.Tel. +44 1624 616660

Jessup & Co, 44 Athol Street,Douglas.Tel. +44 1624 625666

R. P. Harker, Maskani Yetu, Garey Close, Fox-daleTel. +44 1624 675450

Jones & Co, Penthouse Suite,Analyst House,Peel Road,Douglas.Tel. +44 1624 617344

L. G. Kelly,Parkfield,Glencrutchery Road,Douglas.Tel. +44 1624 611019

Peter D. Lace,18 Hope Street,Douglas.Tel. +44 1624 661640

M. G. Accountancy & Taxation,PO Box 372,Douglas.Tel. +44 1624 619022mgcomp@manx.net

David J. Hill & Co, Museum Buildings,Church Road,Port Erin.Tel. +44 1624 833776

Matthew Edwards & Co, Clinch’sHouse, Lord Street, DouglasTel. +44 1624 663166audit@matthew-edwards.com

Noble & Co, Abacus House, Mona Street, Douglas.Tel. +44 1624 624633abacus@manx.net

Julie Oates,2 Camlork Place,Union Mills.Tel. +44 1624 852552

Paul & Co, 5 Market Place,Peel.Tel. +44 1624 844188

PricewaterhouseCoopers LLC,Sixty Circular Road,Douglas.Tel. +44 1624 689689

PurpleAccounts,Salisbury House,Victoria Street,Douglas.Tel: +44 1624 618002enquiries@purpleaccounts.com

Sabre Management Services Ltd,2nd FloorAnglo International HouseLord StreetDouglas.Tel. +44 1624 629409

Shannon Callister & Co,Shannon Court, Bowring Road, Ramsey.Tel. +44 1624 812343

Shimmin Wilson & Co, 13-15 Hope Street, Douglas.Tel. +44 1624 627744

SMP Accounting & Tax LimitedClinch’s HouseLord StreetDouglasTel: +44 (0) 1624 683229info@smppartners.com

T Leach & Co,Bradda House,Bradda Road,Port Erin. Tel. +44 1624 832891

TABS,Rechabite Hall,Allan Street,Douglas.Tel. +44 1624 674913

Thomas & Company, 36, Finch Road, DouglasTel. +44 1624 670577

Thompsons,1st Floor,Royal Trust House,60-62 Athol Street,Douglas.Tel. +44 1624 611108

Crossleys, P. O. Box 1, Portland House, Station Road, Ballasalla.Tel. +44 1624 822816

Crowe Clark Whitehill,6th Floor,Victory House, Prospect Hill, Douglas.Tel. +44 1624 627335mail@crowecw.im

David Gelling & Associates,44 Main Road,Onchan.Tel. +44 1624 615500

Deloitte LLP, The Old Courthouse,Athol Street,Douglas.Tel. +44 1624 672332

Chris Hollingworth,20 Finch Road,Douglas.Tel +44 7624 433346

E Thom,47 Buttermere Drive,Onchan.Tel. +44 1624 613782

W T Tickle & Co.,24 Finch Road,Douglas.Tel. +44 1624 627772

Michael Turner & Co, 17 Hope Street, Douglas.Tel. +44 1624 629619mbturner@manx.net

WFZ Services Ltd,2 Ballanawin,The Strang,Union Mills.Tel. +44 1624 852198

David Wilcock B.Com, FCA, Pine View,Glen Vine Road,Glen Vine.Tel. +44 1624 855110david.wilcock@manx.net

PO Box 25, 26-28 Athol St,Douglas, Isle of ManIM99 1BD+44 (0) 1624 662020mail@msiom.comwww.msiom.com

Grant Thornton,3rd Floor, Exchange House54/58 Athol StreetDouglas Tel: 44+ 1624 639494gtiom@grantthornton.co.im

T. P. Winnell & Co,, 7, Hill Street, Douglas.Tel. +44 1624 670022mail@fiscalservices.co.im

R G Wright,71 Circular Road,Douglas.Tel. +44 1624 674894

Celtic Associates Ltd,Chartered Accountants,One, The Parade,Castletown.Tel: +44 1624 822022Email: email@celt.im

ACCOUNTANTS

ISLE OF MAN BUSINESS DIRECTORY

46

J. H. Maddrell ACA, 1, Meadowfield, Port Erin.Tel. +44 1624 833535jhj@mcb.net

Martin Associates Ltd,Meadowcroft,Ballabrooie Road,Peel.Tel. +44 1624 845343

In association with

Advocates Smith TaubitzUnsworth Limited,Barrule Chambers,36 Finch Road, Douglas.Tel +44 1624 677888reception@advocates.co.im

Appleby,33-37 Athol Street, Douglas.Tel. +44 1624 647647www.applebyglobal.comIOM@applebyglobal.com

Marie Ashworth,2nd Floor,Harbour Mews,Parliament Square,Castletown.Tel. +44 1624 822880

BridsonHalsall,20 Athol Street,Douglas.Tel. +44 1624 614422www.iomlaw.com

Cains, Fort Anne, Douglas.Tel. +44 1624 638300law@cains.com

Cains Gordon Bell, Auckland Chambers,Auckland Terrace,Ramsey.Tel. +44 1624 811311

Callin Wild, Bank Chambers, 15-19, Athol St,Douglas.Tel. +44 1624 623195www.callinwild.commail@callinwild.com

Carter’s, Court View Chambers,12 Mount Havelock, Douglas.Tel. +44 1624 662809

Carter Jones McDonald, Athol Chambers, 21, Athol Street, Douglas.Tel. +44 1624 629627

Conti, 17, Circular Road, Douglas.Tel. +44 1624 670003www.contiadvocates.com

Corbridges, Chancery House,22 Finch Road, Douglas.Tel. +44 1624 690060

Nigel M Cordwell,2nd Floor Suite,6 Hill Street,Douglas,Tel. +44 1624 677277

Corlett Bolton & Co., 4, Finch Road,Douglas.Tel. +44 1624 676868mail@corlettbolton.com

Dickinson Cruickshank Ramsey,Masonic Buildings,Water Street, Ramsey.Tel. +44 1624 812107

Dougherty Quinn,The Chambers,5 Mount Pleasant,Douglas.Tel. +44 1624 626999info@dq.im

Gelling Johnson Farrant, 24, Athol Street, Douglas.Tel. +44 1624 675367

Jones & Co,Finch Chambers,28 Finch Road,Douglas.Tel. +44 1624 629200

Laurence Keenan, Victoria Chambers,47, Victoria Street, Douglas.Tel. +44 1624 611933info@lklaw.co.im

Kerruish Law & Trust, 5th Floor,Anglo International House, Bank Hill,Douglas.Tel. +44 1624 623919

Long & Humphrey,The Old Courthouse,Athol Street,Douglas.Tel: + 44 (0)1624 651951

Kelly, Luft, Stanley & Ashton,2 Sydney Mount, Douglas.Tel. +44 1624 674316

Ian Kermode,Court View Chambers,14 Albert Street,Douglas.Tel. +44 1624 611117mail@ik.im

M&P Legal, New Court Chambers,23-25 Bucks Road, Douglas.Tel. +44 1624 695800law@mplegal.im

MannBenham Advocates Ltd, 49 Victoria Street,Douglas.Tel. +44 1624 639350enquiries@mannbenham.com

Old Court Chambers,Eight Finch Road,Douglas.Tel: +44 1624 641580info@oldcourtchambers.im

Pringle Law,Victoria Court,16 Athol Street,Douglas.Tel. +44 1624 612200

Quinnlegal,30 Ridgeway Street,Douglas.Tel. +44 1624 665522mail@quinnlegal.im

Simcocks, Ridgeway House,Ridgeway Street,Douglas.Tel. +44 1624 690300mail@simcocks.com

Judy Thornley,Beach House,Bay View Road,Port St Mary.Tel. +44 1624 833708

Turnbull Advocate,1st Floor,Exchange House,54-58 Athol Street,Douglas.Tel. +44 1624 614516

Laurence Vaughan-Williams,Museum Buildings,Church Road,Port Erin.Tel. +44 1624 836757barrister@manx.net

Lawrence J Weatherill,20 Athol Street,Douglas.Tel. +44 1624 674994

John Wright,16 Willowbrook Gardens,Douglas.Tel. +44 1624 611999

AIB Bank (CI) Ltd, Isle of Man Branch, 10, Finch Road, Douglas.Tel. +44 1624 639639one@aib.im

Alliance & Leicester International(IOM) Ltd, P. O. Box 226,19-21, Prospect Hill, Douglas.Tel. +44 1624 641888customer.services@alil.co.im

Anglo Irish Bank Corporation(International) PLCJubilee BuildingsVictoria StreetDouglasTel. +44 1624 698000

Bank of Ireland (Isle of Man) Ltd,P. O. Box 246,Christian Road, Douglas.Tel. +44 1624 644200www.boioffshore.com

Bank of Scotland PLC,PO Box 19, Evergreen House,43 Circular Road, Douglas.Tel. +44 1624 644000offshore_enquiries@bankofscotland.co.uk

Barclays Private Bank & Trust(Isle of Man) Limited, 4th Floor, Queen Victoria HouseVictoria StreetDouglas.Tel. +44 1624 682828

Britannia International Ltd,Britannia House, Athol Street, Douglas.Tel. +44 1624 681100enquiries@britanniainternational.com

Conister Bank Ltd, Clarendon House, Victoria Street,Douglas.Tel. +44 1624 694694

Cayman National Bank & TrustCompany,4-8 Hope Street, Douglas.Tel. +44 1624 646900banking@cnciom.com

Barclays Private ClientsInternational Ltd, PO Box 9, Barclays House, Vic-toria Street, DouglasTel. +44 1624 684444

Habib European Bank Ltd, 14 Athol Street, Douglas.Tel. +44 1624 622554

HSBC Bank PLC,HSBC House, Ridgeway Street,Douglas.Tel. +44 1624 684840

Kleinwort Benson Bank (IOM) Ltd,St George’s Court,Upper Church Street, DouglasTel. +44 1624 643270www.closewm.combankingiom@closewm.com

Duncan Lawrie (IOM) Ltd, 14/15 Mount Havelock, Douglas.Tel. +44 1624 620770iom@duncanlawrie.com

Merrill Lynch Bank & Trust Co.(Cayman) Ltd, Circular Rd, Douglas.Tel. +44 1624 688600

Lloyds TSB Offshore Ltd., PO Box 111,Peverial Buildings,Douglas.Tel. +44 1624 638200

Barclays Bank PLC, Eagle Court, Circular Rd, Douglas.Tel. +44 1624 684444iom@offshorebanking.barclays.com

Isle of Man Bank Ltd, 2, Athol Street, Douglas.Tel. +44 1624 637000

Nationwide International Ltd, Samuel Harris House,St George’s Street,Douglas.Tel. +44 1624 696000

Permanent Bank International Ltd, 5, Hill Street, Douglas.Tel. +44 1624 673373info@permanent-bank.comwww.permanent-bank.com

Nedbank Private Wealth Ltd,St Mary’s Court,20 Hill Street,Douglas.Tel. +44 1624 645000

RBS Coutts Bank (Manx) Ltd,PO Box 59,Royal Bank House,2 Victoria Street,Douglas.Tel. +44 1624 632222

Santander UK PLC,28/30 Ridgeway Street,DouglasTel. +44 1624 644900

Standard Bank (IOM) Ltd, Standard Bank House,One Circular Road, Douglas.Tel. +44 1624 643643www.sboff.comsbiom@standardbank.com

The Royal Bank of ScotlandInternational Ltd, Royal Bank House,2 Victoria Street, Douglas.Tel. +44 1624 646464

The Standard Bank of South Africa,Standard Bank House,One Circular Road, Douglas.Tel. +44 1624 643643www.sboff.comsbiom@standardbank.com

Zurich Bank International Ltd, PO Box 422,43-51 Athol Street,Douglas.Tel. +44 1624 671666

The Royal Bank of Scotland TrustCompany (IOM) Ltd.,Royal Bank House,Victoria Street,Douglas.Tel. +44 1624 646464

ADVOCATES

BANKS - LICENCEHOLDERS

47

REFERENCE

ISLE OF MAN BUSINESS DIRECTORY

Abacus Trust Company Ltd,Sixty Circular Road, Douglas.Tel. +44 1624 689600

AXA WF Distibutors (IOM) Ltd,Royalty House,Walpole Ave, Douglas.Tel. +44 1624 643333

BlackRock (Isle of Man) Ltd3rd Floor, Atlantic House,Circular Road,Douglas.Tel. +44 1624 662255

Collins Stewart (CI) Ltd,Anglo International House,Bank Hill, Douglas.Tel. +44 1624 690100

Caledonian Fund Services(Europe) Ltd,PO Box 172, 4th FloorOne Circular Road, Douglaswww.caledonian.comTel: +44 1624 640150.

CMI Fund Managers (IOM) Ltd,Clerical Medical House, Douglas.Tel. +44 1624 638888

Fedelta Trust Limited,29-31 Athol Street,Douglas.Tel. +44 1624 622331mail@fedelta.com

Isle of Man Assurance Ltd.,IOMA House,Hope Street,Douglas.Tel. +44 1624 681200ioma@ioma.co.im

Fund Management Services Ltd,P.O. Box 156, 18-20 North Quay, Douglas.Tel. +44 1624 688300fundservices@im.fortisbank.com

Kleinwort Benson Bank (IOM) Ltd,St George’s Court,Upper Church Street, DouglasTel. +44 1624 643270www.closewm.combankingiom@closewm.com

Laxey Partners Ltd,4th Floor,Derby House,64 Athol Street,Douglas.Tel +44 1624 690900

Lloyds TSB IndependentFinancial Advisers Ltd, P. O. Box 12, Peveril Buildings, Peveril Square,Douglas.Tel. +44 1624 641741

Louis Group (IOM) LtdLouis Building,29 Bucks Road, DouglasTel: +44 1624 649200info@louisgroup-iom.comwww.louisgroupint.com

Royal Bank of Scotland TrustCompany (IOM) Ltd,PO Box 151,Royal Bank House,Victoria Street, Douglas.Tel. +44 1624 646464

Maitland Management Services(IOM) Ltd,Falcon Cliff,Palace Road,Douglas.Tel. +44 1624 630000

Neville James Fund Managers Ltd,Park House,Isle of Man Business Park,Douglas.Tel. +44 1624 670500

Nedgroup Investments (IOM) Ltd.,1st Floor, Samuel Harris House,5-11 St George’s Street,Douglas.Tel. +44 1624 645150nedgroupinvestments.com

Ramsey Crookall & Co, Securities House,38-42 Athol Street, Douglas.Tel. +44 1624 673171dealers@ramseycrookall.com

RBSI Fund Administration Ltd.,PO Box 151,Royal Bank House,Victoria Street,Douglas.Tel. +44 1624 646464

Lorne House Trust Limited,Lorne House, Castletown.Tel. +44 1624 823579

Creechurch Capital Limited,Knox House,16-18 Finch Road,Douglas.Tel: +44 (0) 653800info@creechurchcapital.com

GAM Administration Ltd, 11 Athol Street, Douglas.Tel. +44 1624 632632info@gam.com

Fortis Fund Services Ltd,P.O. Box 156, 18-20 North Quay, Douglas.Tel. +44 1624 688300fundservices@im.fortisbank.com

Thomas Miller Investment(Isle of Man) Limited,Level 2, Samuel Harris House, 5-11 St Georges Street, Douglas.Tel +44 (0) 1624 645200tminvestment.com

Sabre Management Services Ltd,2nd FloorAnglo International HouseLord StreetDouglas.Tel. +44 1624 629409

Hansard International Ltd, Harbour Court,Lord Street,Douglas.Tel. +44 (0) 1624 688000

HPB Assurance Limited,IOMA House,Hope Street,Douglas.Tel +44 1624 681200info@hpba.co.im

IntegraLife International Limited,Barbican House,8-10 Malew Street,Castletown.Tel +44 1624 825986

Royal Skandia Life Assurance Ltd,PO Box 159,Skandia House, King Edward Road,Onchan.Tel. +44 (0) 1624 655555

Zurich International Life Ltd,43-51 Athol Street, Douglas,Tel. +44 1624 662266

Isle of Man Assurance Group, IOMA House,Hope Street, Douglas.Tel +44 1624 681200

LCL International Life AssuranceCompany Limited,St George’s Court,Upper Church Street,Douglas.Tel +44 1624 683683

Nordea Life & Pensions Ltd,Island House,Isle of Man Business Park,Douglas.Tel. +44 1624 694444

Royal London 360° InsuranceCompany LimitedRoyal London House, Isle of ManBusiness Park, DouglasTel. +44 1624 681681servicing@royallondon360.com

AXA IOM Ltd,Royalty House,Walpole Ave, Douglas.Tel +44 1624 643333

Canada Life International Ltd.,Canada Life House,Alexandra Road,Castletown.Tel. +44 1624 820200info@canadalifeint.com

Friends Provident International Ltd,Royal Court,Castletown.Tel +44 1624 821212

Global Life Assurance Limited,St George’s Court,Upper Church Street,Douglas.Tel. +44 1624 618611

SMP Fund Services LimitedClinch’s HouseLord StreetDouglasTel: +44 (0) 1624 683229info@smppartners.com

CLI Institutional Limited Ltd.,Canada Life House,Alexandra Road,Castletown.Tel. +44 1624 820200info@canadalifeint.com

CMI Insurance Company Ltd,Clerical Medical House, Victoria Road,Douglas.Tel. +44 1624 638888

Capital International Ltd,Capital House,Circular Road, Douglas.Tel. +44 1624 654200info@capital-iom.comwww.capital-iom.com

Whilst every effort has been made to ensure that this directory is as comprehensive as possible,the Publishers cannot take responsibility for any errors or omissions contained herein.

INVESTMENT COMPANIES

LIFE ASSURANCE COMPANIES

48

INFORMATION

Peel

Port Erin

Castletown

Douglas

Ramsey

A Global PartnerThe Isle of Man is a leadinginternational business centrerenowned for its innovation,professionalism and long standingpolicy of positive engagement withinternational initiatives andstandards. The Isle of Man operates apolicy of low taxes with a standardrate on individuals of 10%, a higherrate of 20% and generous personalallowances. There is a cap of £120,000on the amount of income tax payableby an individual each year. The Isle ofMan strives to be a model of politicalstability and financial supervisionand has long been committed tointernational standards of taxtransparency. There is no capitalgains tax, wealth tax, stamp duty,death duty or inheritance tax.

Taxation allowanceSingle Person: £9,300Married Couple: £18,600Additional Personal Allowance: £6,400

Department ofEconomic Development

The Department of EconomicDevelopment’s financial assistancescheme offers support toqualifying businesses (up to):40% equipment grants40% building grants either for newbuild or for rents payable;40% revenue grants

Capital Douglas

Population 80,058

Land Area 572 sq km - 227 sq miles

Population density 133 people/sq km (336/sq mile)

LocationIrish Sea, 50km (31 miles) fromIreland, 50km from UK

Longest River Sulby, 17km - 10.5 miles

Highest Peak Snaefell, 621 metres, 2036 feet

Head of StateHer Majesty the Queen,Lord of Mann

Lieutenant GovernorHis ExcellencyMr Adam Wood

Chief Minister Hon Allan Bell MHK

President of Tynwald Hon Clare Christian MLC

Speaker of House of Keys Hon Steve Rodan SHK

www.gov.im

THE ISLE OF MAN . . .

49

Argon Technologies has announced the appointment of Gareth Hooson-

Owen as Head of Sales.

Gareth joined the team on 1st July, bringing with him a strong sales and

business development background within the B2B technology sector, having

recently worked at Darwin and Viking Office Systems. He is also well known as the

President of Douglas Rugby Club. He will be taking the lead in a restructured

sales team, with a brief to continue the re-genesis of the business that has followed

the takeover from 2e2.

Gareth commented: “Argon Technologies is a dynamic company with a strong

future, and I am excited to play my part in its development. Iain Fairbairn, the

Managing Director, clearly understands the needs of local businesses and has

implemented an ambitious investment program for the business that will ensure

Argon will stay at the forefront of corporate IT service provision on the Island. The

team are already getting to grips with a large investment into new hardware that

Iain has made, with the promise of more to come in the very near future.”

Since buying 2e2 Isle of Man from its struggling UK parent company in

February and re-launching as Argon Technologies Limited, Iain Fairbairn and the

Argon Team have been working to ensure continuity of service to all clients across

the various product disciplines supported by Argon. Iain enthused: “I am very

pleased Gareth is joining Argon. He is very well known in the Island’s business

community and has a professional approach to business development. When we

combine his skills with that of our excellent technical and engineering team we

have a great platform from which to support both new and existing clients. Having

successfully stabilized the business, the focus has now shifted to developing the

business into the premier provider of integrated IT services on the Island. We do

offer everything, so that clients don’t need to go anywhere else.”

He continued: “With Gareth joining our team and further announcements

coming I am confident Argon will be a strong contender in the Island’s IT sector.”

APPOINTMENTS

ARGON TECHNOLOGIES

50

Gareth Hooson-Owen

New chairman of the Isle of Man branch of the Institute of Directors is

Clive Parrish, director of Douglas-based business consultancy CDP

Associated Ltd.

“I am taking over with the branch in great shape,” said Mr Parrish, who

succeeds Sally Bolton. “Under Sally’s leadership membership has risen to over

250 with an improving level of diversity, both in business backgrounds and the

increasing number of women becoming members.”

Mr Parrish, who has served on the IOM branch committee for more than six

years, said he hoped to continue the work that had already been done in providing

a range of educational and CPD events (what is CPD Clive?).

He added: “The committee and I remain committed to taking the branch

forward and engage with as many members as we can to help them make the

most of their membership of the Institute.”

INSTITUTE OF DIRECTORS

The Department of Community, Culture and Leisure has announced that

Colin Kniveton will be its Chief Executive following the appointment

of Nick Black as Chief Executive at the Department of Infrastructure.

Mr Kniveton is taking on the responsibility in addition to his current role under

the Business Change Steering Group supporting the comprehensive Scope of

Government review of public services. This is an interim arrangement pending

completion of the review, which is due to report by the end of this year.

Welcoming Mr Kniveton to the Department, DCCL Minister Graham Cregeen MHK

said: “Colin Kniveton is a Chief Executive with a great breadth of experience and he

is well qualified to take over the helm at the Department from the very capable hands

of Nick Black. “Of particular relevance is Colin’s previous experience of the DCCL’s field

of responsibilities and of working in a dual role, when he stepped in to serve as Chief

Executive of the former Department of Tourism and Leisure from 2008 to 2009, while

he was Chief Executive of the then Department of Agriculture, Forestry and Fisheries.”

DCCL

Clive Parrish

In association with

51

APPOINTMENTS

Call 618080

Barry Curran.comIsle of Man Business Park, Douglas

Moore Stephens Isle of Man has announced the appointment of Barbara

Jolly as a client service manager in Moore Stephens Trust Company.

Her focus will be the formation and management of ownership structures for

commercial and pleasure yachts and aircraft, as well as day to day management of

the growing fiduciary team.

“I am delighted to have Barbara on board. She is the perfect fit for the way we

are growing and developing as a firm,” said Clive Dixon, senior partner in Moore

Stephens Isle of Man. “She brings a unique combination of experience, expertise

and contacts. She will be a tremendous asset to the team.”

Previously, Barbara managed the Yacht and Aircraft department in a leading

fiduciary and fund service specialist company on the Island and, with over 20 years’

experience within the specialist areas of marine and aviation finance, Barbara has

become a recognised expert in the industry as well as an outstanding technical

manager.

“I’m thrilled to have joined Moore Stephens,” said Barbara Jolly. “I am passionate

about delivering excellent client service and I am enthused to bring my wealth of

experience and technical knowledge to this new role. Moore Stephens has a superb

and deserved reputation within the industry and I look forward to joining the team.”

Moore Stephens Isle of Man also offers a broad range of services including

personal wealth management and financial planning, fiduciary services, trust and

company administration, yachting and aviation services, insurance brokerage, luxury

asset insurance, corporate pensions and personal retirement solutions, investigations

and forensic, audit and assurance, accounting, corporate recovery, taxation advice

and consulting and HR services, all under one roof.

MOORE STEPHENS TRUST COMPANY

Clive Dixon, senior partner, Moore Stephens Isle of Man; Grant Atchison, director,Moore Stephens Trust Company; Ayuk Ntuiabane, partner, Moore Stephens Isle of

Man. (Seated): Barbara Jolly, client service manager, Moore Stephens Trust Company.

Manx Telecom has appointed Sue

Corlett as its new Retail Manager

and she will play a key role in

continuing the success of the

company’s store in Strand Street,

Douglas.

Sue, who is returning to work after

four years looking after her twin

daughters, has more than 20 years’

experience working for Isle of Man Bank

and Royal Bank of Scotland

International. At RBSI she was the Area

Retail Manager for the Isle of Man with responsibility for all of the group’s retail

branches on the Island. Sue said:

“I’m delighted to be joining Manx Telecom and bringing the experience I have

in retail banking to the telecoms sector. The Strand Street store is a fantastic retail

environment and I look forward to continuing to bring Manx Telecom customers the

very latest products, and to maintaining and improving the already high standards

of customer service and support.”

Sue takes over the role of Retail Manager from Paul Keen who has been

promoted to become Manx Telecom’s Public Sector Accounts Manager. David Smith,

Manx Telecom Marketing Director, congratulated them both on their new roles and

commented: “Building on the excellent work of Paul and the retail team, I have

every confidence that Sue has the qualities and experience to continue our store’s

deserved reputation for providing the best retail experience in Douglas. I wish Sue

every success in her new role.”

MANX TELECOM

TO FEATURE YOUR COMPANY’S SENIOR APPOINTMENTS IN NEXT MONTH’S EDITION OFISLE OF MAN PORTFOLIO, PLEASE EMAIL DETAILS TO:

portfolio@manx.net BY 05 AUGUST (PUBLISHED 15 AUGUST)

Clive Dixon, senior partner, Moore Stephens Isle of Man; Grant Atchison, director,Moore Stephens Trust Company; Ayuk Ntuiabane, partner, Moore Stephens Isle of

Man. (Seated): Barbara Jolly, client service manager, Moore Stephens Trust Company.

APPOINTMENTS

52

Cains, the Isle of Man based law and professional services group,

announces the appointment of three new Directors to Cains Advocates.

The three new Directors are Robert Colquitt from the Litigation Practice

and Geoff Kermeen and Tristan Head from the Corporate Practice.

Robert's practice focuses on all aspects of commercial and chancery litigation. He

has represented a wide range of clients in legal proceedings that have involved trust

disputes, fraud and asset tracing, breaches of financial services legislation, insolvency,

commercial contract disputes and professional negligence. Of his more notable cases,

Robert acted as Isle of Man counsel in the Rosewood Trust v Schmidt case, wherein the

Privy Council re-defined the rights of trust beneficiaries to obtain trust information.

More recently, Robert has acted as Isle of Man counsel to the liquidators of Kaupthing

Singer & Friedlander (Isle of Man) Limited in the Light House Living/Elle Macpherson

litigation (which is due to be heard by the Privy Council later this year). Robert has also

(since 2007) acted for three Defendants to the Bitel litigation in the Isle of Man, the

largest and arguably the most complex civil trial that the Isle of Man court has ever

hosted.

Geoff, a Manxman, has been with Cains for almost 15 years, being based in London

since 2005. Geoff’s practice includes a wide range of corporate and structured finance

work, with particular experience in advising lenders, investors and developers in the UK

and European commercial real estate sector. In recent years, he has advised upon many

high profile CRE transactions for blue chip

clients relating to prime assets (mainly

located in London). He is a regular

attendee at real estate industry events and

is a member of the Investment Property

Forum and the Movers and Shakers

Property Networking Club. He also works

closely with leading advisors in London in

developing the Isle of Man’s important

role in attracting international business

and investment to the City and the UK.

Geoff is recommended by the Legal

500 and Chambers and Partners in his

practice area. He has a master’s degree in

international business law.

Tristan has extensive experience in domestic and cross-border corporate finance

(including initial public offerings, rights issues and public/private bond issues) and

public/private mergers and acquisitions. In addition to regularly advising both AIM and

LSE Main Market listed Isle of Man companies, Tristan is recognised as one of the leading

M&A lawyers in the Isle of Man and has particular expertise assisting clients with the

sale and purchase of businesses operating in the Isle of Man’s financial services sector.

Recent experience includes advising Landkom International plc in relation to its

acquisition by Alpcot Agro AG by way of an Isle of Man scheme of arrangement, advising

Sasol Financing International plc in relation to its issue of loan notes in an aggregate

principal amount of US$1,000,000,000 and advising the Caledonian Group in

connection with the sale of its Isle of Man fiduciary and fund administration businesses.

Tristan studied law at Cambridge University (where he sang in the world famous

King’s College Choir) and, prior to joining Cains, spent a number of years working in a

leading law firm in the City of London.

Andy Corlett, Managing Director commented: ‘We are delighted to welcome Tris,

Geoff and Rob to the Board of Cains Advocates.

All three have been with Cains for a considerable number of years and they not

only are first class lawyers in their chosen fields, but they also have the requisite wider

commercial skill sets to enhance the overall effectiveness of the Board.’

CAINS

Robert Colquitt Geoff Kermeen Tristan Head

Global Fiduciary Services Provider The ILS Group Limited is

strengthening its growing services offering in the Isle of Man through

the expansion of its Specialist Services Team.

The Group, which is headquartered in Douglas, but has offices in nine other

locations around the world, has appointed experienced company and trust

professional Debbie Lean as a Trust and Company Administrator.

The team, which is headed up by Specialist Services Manager Graham Clague,

and includes long servers Karen Finan, a senior company administrator who has

been with ILS for 10 years, and Darren Quirk, a company administrator who has

been with ILS for 16 years, is responsible for providing high level fiduciary support

and managing the requirements of ILS’s niche clients.

Chief Executive Officer Chris Eaton said: “I am pleased to welcome Debbie to

our Isle of Man operation. The work of our Specialist Services Team continues to

support ILS’s commitment to expand and build on the range and quality of services

we want to offer our clients.”

Graham Clague said: “Debbie’s knowledge and experience will be an important

part of our expanding Specialist Services Team and reflects our commitment to

build on the excellent platform of services that are available to our clients.”

Debbie has more than eight years’ experience in the fiduciary services sector

with well-established international fiduciary service providers, specialising in trusts,

yachting and aviation. Debbie, who was educated in the Island, is a full member

of the Society of Trust & Estate Practitioners (STEP).

THE ILS GROUP

In association with

Isle of Man headquartered

international corporate service

provider, Cavendish Trust, has

announced three high profile Board

appointments with immediate effect.

Tim Craine, the Island’s former Head of

Business Development within the

Department of Economic Development has

been appointed a non-executive Director,

whilst two highly experienced Jersey-based

English solicitors, William Bennett and Paul

Egerton-Vernon have taken up executive

Director positions.

Mr Craine took early retirement in April after a 34 year career within the Civil

Service but has kept his word on a statement he made at the time that he was

looking forward to pursuing fresh business opportunities.

His former Government role, which included responsibility for Space Commerce

and e-Gaming, are two niche sectors with which Cavendish has developed strong

links in recent years. “I am now looking forward to working alongside the team at

Cavendish in a non-exec capacity and doing all I can to assist the company in

pursuit of its business objectives,” said Mr Craine.

English Solicitors William Bennett and Paul Egerton-Vernon can draw upon

nearly 70 years combined legal and trust company expertise.

William founded his own English legal practice in Jersey in 1995, specialising

in trust, corporate general advisory and structuring after working in London where

he predominantly dealt with M&A, MBO’s and various property transactions and

offshore structuring.

In 2004 he established Garfield Bennett Trust Company Limited in Jersey, a

licensed Corporate and Trust Company, also licensed to provide fund services

business. He currently sits on the Boards of a number of private client and public

companies with wide ranging activities from property and investment holdings

through to yacht ownership.

Paul Egerton-Vernon was articled and qualified at Slaughter & May in London

and has been in practice since 1971. He established his own London based law

firm in 1978, thereafter becoming a partner of Nigel Harris & Partners, which

involved a move to Jersey, where he has been based for almost thirty years.

He was previously an adviser to the leading US law firm, Faegre & Benson

(now Faegre Baker Daniels), on competition matters in the UK and European

Union, has been an International Editor of the Law Society Gazette and is a former

President of the Association of English Solicitors in Jersey.

Paul has held directorships in a number of major businesses including Rathbone

Investment Management Limited, Halifax International Ltd, Pictet British

Investment Co. Ltd, Bank of Scotland International and Threadneedle Investments,

as well as a number of Jersey subsidiaries of Public Companies.

Cavendish Trust Managing Director, James Cunningham-Davis, said the new

appointments were a major step forward in taking the Company to its next stage

of development. “We are delighted to have attracted the calibre of William, Paul

and Tim to our Board. Their diverse and in-depth knowledge of the offshore industry

will play a significant part in helping Cavendish Trust achieve its future strategic

goals,” he commented.

CAVENDISH TRUST

53

Tim Craine

Call 618080

Barry Curran.comIsle of Man Business Park, Douglas

Thomas Miller

Investment (Isle of

Man) Limited, a

member of the 128

year old Thomas

Miller Group of

companies, has

appointed Tom

Richards to the role

of Director. Tom is

also Head of

Private Investment

Management

(Offshore).

Tom joined Thomas

Miller Investment in

2012 and was

originally a Royal Air

Force pilot before he started his career in investment management. He is

responsible for Thomas Miller Investment’s Private Investment Management

(Offshore) business, management of client assets and development of strategic

professional adviser relationships. Tom sits on the Investment Strategy and Private

Investment Management Portfolio Review Committees and heads the Collectives

Research Team.

Mike Balfour, Chief Executive, Thomas Miller Investment says: “Since Tom joined

our Isle of Man team in 2012 he has demonstrated an excellent understanding of

financial markets. His lateral approach to analysis and understanding of key

catalysts in asset class markets has significantly contributed to investment strategy

at Thomas Miller Investment.

“His appointment to Director is in recognition of his dedication and experience.

His contributions to the team have played a significant role in growing our offshore

private client bank and driving the excellent investment performance experienced

by TMI’s institutional and private clients. I am excited to work closely with Tom as

we expand and strengthen our services across our private client and institutional

bases.”

Thomas Miller Investment has funds under management of approximately £2.7

billion and manages tailored investment portfolios for insurance mutuals, charities,

pension schemes, governments and private clients.

THOMAS MILLER INVESTMENT

Tom Richards

54

Continent 8 Technologies have announced the appointment of

Stephen Trimble as Head of Product, based at the Company’s

Headquarters, located in Douglas, Isle of Man.

Stephen brings over 15 years of experience in Telecommunications, IT and

Data Centre operations to lead Continent 8’s global product management

function. He will take responsibility for the management, definition and delivery

of both existing and new products and services for the global business.

John Stone, CTO for the company commented, "Continent 8 are delighted

to have attracted such an experienced and well-respected individual. Stephen’s

skills and experience greatly complement our plans for the expansion of our

global footprint and the enhancements we are currently making to our portfolio

of services. With the Isle of Man data centre expansion currently underway,

Stephen’s appointment also underlines our commitment to further growth on

the Island ".

Stephen added “It is extremely exciting to be joining a company as dynamic

and forward-thinking as Continent 8. At a time of local and global expansion I

am looking forward to assisting with the introduction of further world-class

products and services.

Michael Tobin, Continent 8 CEO, underscored that, "Building the Continent

8 organisation can only be accomplished through the creation of a world class

team. Stephen is a welcome addition to help continue our growth on the Isle of

Man and throughout our global footprint."

APPOINTMENTS

Stephen Trimble

CONTINENT 8 TECHNOLOGIES

The Car Superstore, Cooil Road, Douglas, IM2 4WD • Opening Hours: Monday-Thursday 9.00am - 7.00pm • Friday 9.00am - 6.00pm • Saturday 9.00am - 5.00pm • Sunday 12.00pm - 5.00pm

barrycurran.com% 618080