‘There’s a movement towards the wealthier clients becoming more sophisticated and more international in their requirements, and their outlook,’ says Russell Cohen, a leading light at Farrer. He also notes an increase in cross departmental work and problem solving on behalf of clients. ‘It’s just the nature of the international wealthy private client that they require services across the firm,’ he says. He is cautious about the political uncertainty. ‘I remember a time when London was not seen as a vibrant international hub, and there’s got to be some effort taken to preserve that status.’ The introduction of the Finance Act 2017 was ‘embarrassing’, and he is sympathetic to clients who wish to have ‘some foundation on which to do some planning’.
Tax & Trust Lawyers