A first choice for UHNWs in need of strategic oversight and planning, Liz Henson leads PwC’s private client and private business practice in London. In the past twelve months, the firm has put an increasing emphasis on its African and Middle East operations — areas Henson has been dealing with for decades.
‘The Middle East market has changed quite incredibly,’ she says, pointing to plummeting oil prices, the rise of IS, Western rapprochement with Iran and the spectre of a regional Sunni-Shia war. ‘The whole Middle East region is in a state of flux.’
Even royal clients in the Gulf are beginning to liquidate their assets: ‘Somebody at the top is going, “Boy, put the brakes on — we’re going through money here like it’s going out of fashion.”’