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FREE Please take a copy IN JULY S EDITION Finance Quarter - just get on and build it o Read online at Jersey s business magazine Y Getting noticed How to boost your visibility overseas MIKE have designs on Architecture WADDINGTON Do you 3 jurisdictions 1 provider complete peace of mind Whether you need a data centre in Jersey Guernsey or the Isle of Man Sure s the only data centre provider to offer resilient purpose-built data centres in all three jurisdictions - giving you complete peace of mind. From disaster recovery to enterprise email management to harnessing the power of cloud computing all our data centre solutions are backed by our global network and highly qualified network services team. Trust our experts with the security of your business data. Contact us at datacentresales o Editor James Filleul Welcome FURTHER INFORMATION PUBLISHERS If you would like to appear in Connect have a story to tell or simply want to receive a copy then please get in touch with the publishers Bailiwick Publishing (LCI) 5 Bond Street St Helier Jersey JE2 3NP Telephone 01534 887740 CONNECT ONLINE For the latest news and classifieds straight to your inbox visit and subscribe to our daily news service. EDITOR James Filleul editor WRITERS Ben Qu r e ben Martha MacDonald martha Julien Morel julien ADVERTISING Mark Ferns Telephone 01534 510309 markferns SUBSCRIPTIONS info DESIGN AND PRODUCTION Mark Jackson mark Artwork under 10Mb in size may be sent to this address. o Cover image by By Glen Perotte EDITION39 GET IN TOUCH... Please email editor I Please recycle this magazine. Like Bailiwick Express connectjersey know what you re thinking. Since our political column this month covers the furore over the new International Finance Centre you ve going to be served up a re-heated version of one the two main tired arguments. It s either an affront to democracy and proof that we are being strangled in the most tangled web of political conspiracies since Abraham Zapruder pressed the record button on his video camera in Dealey Plaza Dallas on November 22nd 1963 or it is simply about investing in top quality office space so that the finance sector can grow and so continue to create jobs and pay our bills remember no less an authority than the Chief Minister said it was all about our children s children. Presumably by the time it comes to the great-grandkids we won t need offices as we ll all be working together via thought transfer. Whisper it quietly but our suggestion is that the truth lies (thankfully) nowhere near either Dealey Plaza or the grandchildren. Rather it sits petulantly in all its vainglorious pomp with the States decision back in 2007 to approve a plan for 620 000 square feet of offices (37 times more than the launch tenant has just signed up to eight years later) 400 flats 1 420 parking spaces 65 selfcatering flats and a hotel. Read Here s the Thing on P78 to see where that political decision left us. Without making any sort of link our lead feature this month is on mental health in the workplace. We are repeatedly told that our future economic prosperity is contingent on becoming more productive yet in the next news bulletin you ll hear stories about stress-related illnesses getting worse and the pernicious effect that conditions such as anxiety or depression can have on a well-functioning team. On page 20 we try and join the dots a job made much easier by our two case studies who have bravely been prepared to put their own stories into the public domain in order to help our general understanding of these vital issues. That s no easy decision in a small community so I d like to sincerely thank them both for their courage and openness. Finally when planning your route through Connect this month it s worth making a stop as ever for refreshment on the pages provided by The Fool. If the Finance Centre row has sent your decisiveness scampering away for solace like a waterfront rabbit he marks the 50th Anniversary of the Churchill s death with a quotation Fear is a reaction. Courage is a decision. Decide to read Connect. 01 jsy CONNECT JULY 2015 Contents NO ORDINARY DAY JOB Copyright Bailiwick Publishing LCI. All rights reserved. Reproduction in whole or in part without written permission is strictly prohibited. Views expressed by our contributors are their own. Editorial opinions expressed in this magazine are not necessarily those of Bailiwick Publishing. Bailiwick Publishing does not accept responsibility for the advertising content. While every effort is made to achieve total accuracy Bailiwick Publishing cannot be held responsible for any errors or omissions. SEll me a life in... 78 REGULARS LOC AL NE WS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 04 LEG AL MAT TERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Voisin Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 TR ADING PL ACES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 SELL ME A LIFE IN . . . ARCHITEC TURE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 PIC TURE THIS Ronez . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 TECHNOLOGY Lisa McLauchlan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 GL A SS HALF FULL Vic Tanner Davy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 BUSINESS ADVISER John Shenton . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 UNPLUGGED Rupert Langly-Smith . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 VIE WPOINT Canaccord Genuity Wealth Management Stanley Gibbons Investments Hawksford . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 TRUSTS FEATURES RECRUITMENT Rosscot . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 PwC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 Rowlands Recruitment . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 JT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 DIGITAL INNOVATION KPMG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48 Hawksford . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .50 PROPERT Y Quilter Cheviot . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .52 66 WHO S THE FOOL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 NO ORDINARY DAY JOB Michael Belligoi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 MARKETING FORCES Christopher Journeaux . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 HERE S THE THING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78 DE ADLY DIARY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 THE ADVISER Olaf Blakeley . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84 02 JULY 2015 jsy CONNECT SPORT Jersey Football Association . . . . . . . . . . . . . . . . . . . . . . . 54 Special Report Mental Health . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20 You can read this magazine plus the latest local UK and business new online with UNPLUGGED 68 22 54 44 60 32 76 jsy CONNECT JULY 2015 03 NEWS News Airport We will work with airlines to reduce delays Jersey Airport has vowed to work with airlines to sort out flight delay misery for Islanders after stats labelled them the worst airport in Britain for the frequency and length of delays. They say that problems with aircraft ramp congestion and weather all contribute to delays but they say that they will assist airlines to make changes to reduce delays. Figures for March published by the UK Civil Aviation Authority which are now including Jersey for the first time show that 23% of flights were delayed with an average delay of 16 minutes. And the picture appears to be a consistent one with data for the end of 2014 showing that we were at or near the bottom of the charts of 24 British airports. The data shows that from October to December 2014 24% of flights were delayed (2nd worst of 24) with an average 16 minute delay (the worst of all 24 airports). It also shows that the number of delays was up 3% on the same period in the previous year while the 04 There s one constant with the news it gets smaller. Back in the olden days national newspapers used to be great big things that spread out like roadmaps full of long-winded stuff about What It All Means instead of just being full of Stuff You Saw On The Internet Yesterday the radio used to be all about interviews and features instead of subMoylesian wittering and the less said about 24 hour news TV channels the better. But that s the way things are and no one can fight it. So Connect is going to go with the flow and imagine a world where every story comes down to a single 140-character Tweet. When this is how the entire news industry works in about six minute s time just remember that you saw it here first... length of the average delay was up by two minutes. Myra Shacklady Group Commercial Director for Ports of Jersey said While it is encouraging to see Jersey Airport included in this CAA report we are disappointed by its findings that indicate less than satisfactory flight punctuality and will now seek to understand the drivers of these figures and what we may be able to do to assist our airline partners in making any necessary improvements. Our airline partners and their respective agents who handle all ground arrangements on their behalf work tirelessly to ensure aircraft operate to schedule. However despite their best efforts a number of factors beyond their control can impact operations resulting in delays to services. These include aircraft technical issues occasional ramp congestion especially at busy times and significantly for an island airport inclement weather conditions which we are susceptible to throughout the year. Greece peoples Greece runs out of other F loses money EU loses rag IM the rescue rag Putin rides to wellforanyone thisis ver yunlikelytoend Ashes n for Australia England s hush-hush pla nes discovered revealed six Joe Root clo mical vats growing in secret ECB che badnewsforIanBell FIFA ly everyone Turns out that what literal lly true. knew was true was actua e football Shocker. Can the FBI sav eitsoccernow probablyshouldrenam Got a suggestion for Tweet Me You know where we are... For all the latest business news follow connectjersey Follow us on Twitter JULY 2015 jsy CONNECT We get straight to the point managing complexity to get to the essentials. Every piece of work is a collaboration. We listen actively asking the right questions focused on what really matters. We deliver targeted pragmatic advice with absolute clarity. To the point. Legal services in British Virgin Islands Cayman Islands Guernsey Hong Kong Jersey Luxembourg Shanghai Tokyo Community Matters Every month we give our time and money to local communities. We donate 1000 to be shared by three good causes that you choose. Waitrose Supporting the community NEWS Boost for housing market as lenders relax The property market could be about to pick up with lenders relaxing criteria and preparing to extend mortgage terms back up to 35 years. Property expert Paul Scally says that the fact that more money will be available to house-hunters is great news for both buyers and sellers. His comments came after one of Jersey s biggest lenders Skipton increased mortgage terms to 35 years. But he says that they re not the only ones making more money available. Mr Scally a partner at law firm Le Gallais and Luce said that the trend would provide a much-needed boost to the property market. He said It is great news for buyers and sellers It will enable more people to get a mortgage and potentially borrow more. It s especially good for first time buyers as Skipton have always been fantastic for them. The market will be looking far better with this news - it s a wellneeded boost. A statement from Skipton about last week s change in policy said that as a responsible lender they always ensure that affordability was maintained. Managing Director Jim Coupe said Skipton International along with other financial institutions is constantly reviewing its rates and lending terms in reaction to the market and to customer needs. In light of this we have this week increased our loan terms to 35 years. In May property prices revealed that while there had been signs that the five-year price-slump was over more recent figures showed a 1% drop over the start of the year. The stats in the quarterly House Price Index showed that property prices in Jersey are more or less back to where they were in the middle of 2009. The most recent figures for January to March show that One-bedroom flats had dropped 16 000 to 201 000. Two-bedroom flats had dropped 6 000 to 335 000. Three-bedroom houses had dropped 2 000 to 524 000. Four-bedroom houses had dropped 5 000 to 707 000. Banking online Our promise to you Our Secure Banking Promise gives complete security for our personal and business customers who bank online with us or through our mobile app. Easy. Fast. Secure. Secure Banking Promise online Search for the NatWest offshore app The Royal Bank of Scotland International Limited trading as NatWest (NatWest). Registered Office PO Box 64 Royal Bank House 71 Bath Street St. Helier Jersey JE4 8PJ. Regulated by the Jersey Financial Services Commission. Network charges may apply. jsy CONNECT JULY 2015 07 NEWS Feelunique close Jersey distribution centre Feelunique has announced the closure of its Jersey warehouse. The Jersey company Europe s largest online beauty retailer say that they will close their distribution centre in the Island and that they will restructure their supply chain and commercial teams to London. But in a statement the company says that they would still be employing more than 150 of their 270 staff here in the Island. Feelunique Chief Executive Officer Joel Palix said that after five years of rapid growth they have reviewed their delivery processes to stay competitive and reaffirmed the company s commitment to the Channel Islands. He said This has been an extremely difficult decision to take but in order to continue to compete on an international level we know that this move is in the long term interests of Feelunique and our customers. At the current time our focus is on providing our colleagues who may be impacted with all the support that we can. We remain committed to building a successful business in the Channel Islands. Feelunique say that the decision will not affect their online team or their stores salons and spa in Jersey. The company was launched in 2005 and was reported to have seen sales growth of 20% in 2014. They offer 20 000 products and 500 brands. The founders - Aaron Chatterley and Richard Schiessl sold a majority stake in the business to private equity firm Palamon Capital Partners in a December 2012 deal which valued the business at 26 million. 1 TAKE FIVE Five reasons... according to Deadly Diary why kids today have it worse than their folks Health & Safety. Whilst baby boomers could run into the street until someone lost a limb kids nowadays aren t allowed to play in the park unless they ve been thoroughly coated in a protective layer of bubble wrap. Parents today seem disillusioned with the outdoorsy privileges they had as children outside What you mean where all the bugs and dirt are Oh no my precious Tarquin much prefers his iPad. In the future DD predicts that a zorb will be a traditional christening present so that kids can amble around outside whilst being shielded from the horror of grazing a knee or you know having an imagination. Government debt. As the global deficit worsens so does the probability of kids today enjoying the same government services afforded to their parents. Austerity looms like Chitty Chitty Bang Bang s child snatcher. Uni fees tower health costs spiral and to top it all off when these kids are all grown-up they ll be saddled with the whopping price tag. Yeah good luck with that. 2 3 Social media. DD reckons being a young person is complicated enough without having to grapple with hashtags on a daily basis. Kids are now twice as socially awkward AND expected to broadcast their every thought on the Internet it s a recipe for disaster That means all of the embarrassing haircuts acne and braces are documented and stored in the world s digital conscience. Young people are starting to speak 140 characters at a time. In playgrounds across the country there have been sightings of children playing a game called Twitter where they aimlessly follow one another around for hours. Not only is social media altering their behaviour it also poses significant threats to kids health Compulsive Selfie Syndrome Hipster-titis C and worst of all - Diatweetes. The danger is real. The cold war was NOTHING compared to this. Property Ladder. Unless kids are lucky enough to inherit property it s looking less likely that young people will ever own a house outright. This paints such a lovely picture for all you young whippersnappers DD should go into horoscopes. Now dubbed Generation Rent young people face rocketing house prices coupled with less earning potential thus condemning them to a nomadic life of flat-dwelling. But you guys get Netflix so you can t complain really. 4 5 Want more Read Deadly Diary on page 80 08 The end of the world. Which brings DD to the small matter of ARMAGEDDON. Yes kiddywinks you re much more likely to witness the end of the world in your lifetime than your parents. This could come in the form of some kind of religious rapture a total natural disaster or as a catastrophic consequence of Apple dabbling in artificial intelligence (who saw that coming ) You may find comfort in the fact that although life may be tough for the Internet generation (for the reasons aforementioned) it may all be over much sooner than you think. Besides the rapture would make one hell of an Instagram photo endoftheworld armageddon nofilter. JULY 2015 jsy CONNECT NEWS Rave reviews for top Island hotel in national newspapers One of Jersey s luxury hotels is in the spotlight again having made it into the top 10 seaside hotels in Britain. The Atlantic Hotel in St Brelade has been given rave reviews by the Telegraph and Sunday Mirror top marks for its food and a great score for its service. The Telegraph s Hotel expert Fiona Duncan tucked in to Mark Jordan s seven course tasting menu during her stay which she says includes the best oysters lobster and beef I have ever tasted plus caviar truffle and melting foie gras. It was truly memorable. She gave the hotel 9 10 for its stylish yet timeless style and character and 8 10 for its location. The hotel s owner Patrick Burke said We are understandably proud to have been selected as one of Britain s best seaside hotels. This recognition goes beyond just the hotel s offering as a fundamental part of the guest experience at The Atlantic is its location in Jersey. The spectacular beauty of Jersey provides the perfect setting for our guests on an island full of charm with unspoilt beaches outstanding local produce and a rich history. What a fantastic boost for us all as we gear up for the summer season. The Telegraph s guide shows the top places for both families and couples to stay in the UK and includes hotels in Cornwall Brighton Norfolk Suffolk Dorset and the Isle of Wight. Just weeks ago Mark Jordan one of the Island s top chefs was front page news when he starred on the cover of national catering magazine - The Caterer - the weekly magazine considered to be the bible for hoteliers restaurateurs chefs and all those working in the British hospitality industry. EU tax blacklist for Guernsey - but not for Jersey Guernsey has been placed on an EU tax blacklist. The island s Chief Minister Jonathan Le Tocq has expressed shock and disappointment over the move and has requested that the EU remove Guernsey from the list of noncooperative tax jurisdictions. The move comes just weeks after EU Commissioner Pierre Moscovici met Deputy Le Tocq and Jersey s Chief Minister Ian Gorst and praised their work on financial services regulation. At the time Mr Moscovici said I very much welcome the active engagement of the Channel Islands in the key initiatives involved in the fight against tax evasion fraud and abusive tax avoidance in which they are important partners of the EU. Deputy Le Tocq has released a letter that he sent to the Commissioner on Twitter in it he wrote that the blacklisting was an error. He says that the countries that appear on the list have each been included ten times on lists of un-cooperative jurisdictions by EU member states. But Deputy Le Tocq says that Guernsey has only been included on nine lists and that the EU has mistakenly added Sark s listings to Guernsey s taking them over the threshold. He wrote that the Isle of Man and Gibraltar like Guernsey were on nine lists but were not on the blacklist. Deputy Le Tocq s letter said On the above basis I expect that the Commission will agree to removing Guernsey from the list of noncooperative jurisdictions with immediate effect. If it does not do so the Commission is sending out a clear signal that meeting the highest international standards of tax transparency does not make a jurisdiction co-operative hardly an incentive for other jurisdictions to aspire to the highest international jurisdictions which we in Guernsey meet. Hawksford is an international and award-winning corporate private client and funds business with clients ranging from small and large corporates to ultra-high net worth individuals. Jersey British Virgin Islands Hong Kong New Zealand Singapore Switzerland United Arab Emirates Hawksford Group 15 Esplanade St Helier Jersey JE1 1RB Channel Islands T 44 (0) 1534 740 000 Hawksford Group (and Hawksford International) are the Registered Business Names of Hawksford Trust Company Jersey Limited which is regulated by the Jersey Financial Services Commission. jsy CONNECT JULY 2015 09 NEWS States employees earning over 100 000 rises to 232 The number of States employees on more than 100 000 has increased to 232 with the top-earner on around 315 000 per year. The top-earning figure is thought to be the Bailiff the figures released are for last year when Sir Michael Birt held the post leading the pack of public sector employees. The figures have been revealed in the States accounts for 2014. They show that 37 States workers have joined the 100 Club of employees with pay pension and benefits packages running to six figures. The accounts also show that staff costs amount to 364 050 000 per year or just shy of 1 million every day of the year. Ministers are currently aiming to cut that pay bill by 60 million per year by 2019 as part of their package of measures to address a deficit of 125 million in States finances. The cuts to the pay bill will be achieved through a mix of pay freezes like the one proposed for this year and a mix of voluntary and enforced redundancies. The first letters inviting States workers to take redundancy effectively a payout to quit their jobs have gone out in the last week. Treasury Minister Alan Maclean said that work was about restructuring the States to make it more efficient and save money not about cutting pay. He added that a high proportion - 103 out of 232 - of the big earners were doctors and hospital consultants. I think if you have the right people in the right jobs you need to pay them whatever the market rate is he said. We just need to make sure that we are structured the right way. We need the right services delivered in the right way. The accounts reveal that the number of States employees earning over 100 000 in salary allowances and pension contributions in 2014 was higher than it was the previous year. In 2013 there were 195 earners on combined packages over 100 000 that figure was below the 198 in 2012. The 232 public sector workers currently between 100 000 and 320 000 per year take home 31 410 000 between them. They are made up of 103 doctors and consultants 72 civil servants 34 lawyers and judges nine air traffic controllers seven headteachers and Highlands College staff and seven police officers. Top four States jobs were not openly advertised The jobs of Jersey s chief civil servant and the States top directors for finance HR or IT were not advertised or opened up to applicants not already working for the government. The information was revealed in response to a Freedom of Information Law request. The response states only that Mr Richardson and Mr Bell are paid at chief officer grade and that Mr Stevens and Mr Webb are paid at the A grade. Those pay grades which sit outside the main civil service pay structure are not published but are above the highest standard civil service grade which tops out at 87 202 per year. In the 2013 States accounts Mr Richardson s salary was revealed as between 190 000 to 195 000 while Mr Bell (then at Social Security) was revealed as earning between 130 000 to 135 000. The States have confirmed that the positions of all four men Chief Executive John Richardson Treasurer of the States Richard Bell HR Director Richard Stevens and IT Director Ian Webb were filled from within the organisation without advertising them or looking for external candidates. The States Employment Board (which made up of politicians who oversee HR matters) and the independent Jersey Appointments Commission ratified all four appointments. 10 JULY 2015 jsy CONNECT FREE-THINKING INVESTMENT. UNCONSTRAINED INVESTMENT EXPERTISE EVERY DAY. FIND OUT MORE. CALL TIM CHILDE HEAD OF JERSEY OFFICE TEL. (0)1534 506 070 OR VISIT WWW.QUILTERCHEVIOT.COM Investors should remember that the value of investments and the income from them can go down as well as up. Quilter Cheviot Limited is registered in England with number 01923571. Quilter Cheviot Limited is a member of the London Stock Exchange authorised and regulated by the UK Financial Conduct Authority and regulated under the Financial Services (Jersey) Law 1998 by the Jersey Financial Services Commission for the conduct of investment business in Jersey and by the Guernsey Financial Services Commission under the Protection of Investors (Bailiwick of Guernsey) Law 1987 to carry on investment business in the Bailiwick of Guernsey. Accordingly in some respects the regulatory system that applies will be different from that of the United Kingdom. NEWS Yet more delays for 7 million e-Gov project It could be years before the States e-Gov program finally comes online a Freedom of Information response has revealed. The first phase of the 7 million project which promises to cut States waste and make life easier for the public is being held up by replacements of the States IT systems for tax and Social Security. Plans for those upgrades are due in the next 12 months but even then they have to be contracted out and implemented meaning the basic building blocks for the promised e-Gov systems may not be in place for years. The owner of IT consultancy C5 Alliance Mark Loane said that it looked as though the States were reaching for excuses. He said The politicians don t seem to be listening and this looks very much like they are preparing excuses for why e-Gov cannot happen quickly. Unfortunately the States are insistent that the tax system and the social security system need to be replaced and that this has implications that could delay the delivery of e-Gov this is not the case. The e-Gov team simply needs to provide an enterprise data bus to connect to the core departments systems. The replacement of legacy systems should be done by a different team in parallel to the work of e-Gov otherwise this mess is going to drag on forever. Some work is going on behind the scenes to prepare secure log-in systems for the e-Gov project but progress on major headline items such as online tax forms look likely to take years. The further delays were revealed in response to Freedom of Information Law requests by Connect s sister publication Bailiwick Express which also revealed that the review which led to the whole programme being put on hold was commissioned by States chief executive John Richardson and cost 9 884. The project was due to have a lead contractor and to have finished the design phase this month but in February the States put the 7 million project on hold for a re-think. And now the States have confirmed that work to upgrade key systems needed to allow e-Gov to take place are going to take years. The States HR and payroll systems are due to be replaced by mid-2016 with finance systems following a year later. New tax and social security systems which will form the first phase of the e-Gov programme are being designed over the next year. WHAT HAVE YOU BEEN READING A QUICK LOOK AT THE BIG STORIES LAST MONTH ON BAILIWICK EXPRESS Young Jerseyman dies in Cambodia A 25-year-old Islander called Peter Riley has died in Cambodia. jsy news young-jerseyman-diescambodia Top four States jobs were not openly advertised The jobs of Jersey s chief civil servant and the States top directors for finance HR or IT were not advertised or opened up to applicants not already working for the government. jsy news top-four-states-jobs-werenot-openly-advertised Plumbers let off after Planning prosecute them GET THIS LATEST NEWS & CLASSIFIEDS STRAIGHT TO YOUR INBOX Every day we send our top stories directly to the inbox of each of our subscribers that database includes a diverse readership or thousands from senior professionals looking for business news to house hunters in the property market. Our current email services are DAILY NEWS EMAIL Goes out everyday to our largest database keeping them up-to-date with our top stories. WEEKLY RECRUITMENT EMAIL Getting the right staff is key to all local businesses and our Wednesday e-mail is just what they are looking for. WEEKLY PROPERTY EMAIL Targeted at our readers looking specifically for property. Published every Friday it catalogues open viewings over the coming weekend so property-hunters can plan their itinerary. WEEKLY MOTORING EMAIL Goes out every Tuesday to everyone looking for a new set of wheels. Our weekly e-mail makes sure they know the latest deals and are up-to-date with what s on offer. GUERNSEY BUSINESS NEWS EMAIL Goes out everyday to a Guernsey database keeping them up-to-date with our Guernsey business news stories. 12 JULY 2015 jsy CONNECT for working for Planning A plumbing firm prosecuted by the Planning department after doing work on their behalf has been let off 9 000 in fines and court costs. jsy news plumbers-let-afterplanning-prosecute-themworking-planning Investment Outcome Room to Roam Tuscany Italy N 43 46 2 E11 13 6 Where will your investments take you Your world isn t confined to a single set of geographic coordinates. Neither should your investments be. We search the globe to find outstanding investment ideas wherever they happen to be. Contact us to learn about the wealth management services we offer. 44 (0)1534 708090 offshore Investments can fall in value and you might get back less than you invested. To us there are no foreign markets.TM Canaccord Genuity Wealth Management is a trading name of Canaccord Genuity Wealth (International) Limited ( CGWI ) which is licensed and regulated by the Guernsey Financial Services Commission the Isle of Man Financial Supervision Commission and the Jersey Financial Services Commission and is a member of the London Stock Exchange and the Channel Islands Stock Exchange. CGWI is registered in Guernsey no. 22761 and is a wholly owned subsidiary of Canaccord Genuity Group Inc. Registered office 2 Grange Place The Grange St. Peter Port Guernsey GY1 2QA. NEWS News RE view Big fall in number of Islanders struggling with debt The number of Islanders struggling with debt has fallen dramatically according to the Citizens Advice Bureau. The charity which provides free and impartial advice has seen the number of people asking for help with debt fall by a fifth over the past two years and the total amount of debt has fallen by 64 per cent over the same period. The CAB s annual report for last year reveals that 278 people contacted the bureau for advice about debt in 2012 but this fell to 219 in 2014. And the total value of debt fell from 5m to 1.8m over the same period. CAB Chief Executive Malcolm Ferey said I would think that the economy really has turned the corner and we are at last seeing better times ahead. to attain Canadian citizenship. Global citizenship experts Henley & Partners are working alongside international business risk specialists Comsure Government Services (Comsure) as part of a consortium led by BDO the world s fifth largest accountancy and advisory network. The local firms have won an important contract to provide vetting and due diligence services for Citizenship and Immigration Canada (CIC). They will conduct financial checks on selected applicants from around the globe looking to gain permanent residence the stepping stone to Canadian citizenship under a pilot programme being run by CIC. Henley & Partners which has its head office in Hope Street in St Helier was responsible for bringing the consortium together. Chief Executive Officer Eric G Major said they were very proud to be part of the winning bid. By combining the strengths of these three leading companies we have created a due diligence solution that is world class and incomparable. The Immigrant Investor Venture Capital programme will benefit from stateof-the-art technology sophisticated due diligence processes and expert knowledge relevant to such programs he said. Email us on editor Got News Increase in luxury property sales shows confidence in Jersey A surge in high net worth individuals relocating to Jersey is having a positive effect on the island s economy say Collas Crill. Last year s significant increase in luxury property sales which totaled 90 million in comparison to the last five year average of 25m added a welcome 4 million to the public purse and demonstrates confidence in Jersey both for its economy and as a destination of lifestyle choice. Locate Jersey an initiative which aims to attract high net worth individuals to relocate to the island is reported to have created over 300 job opportunities in 2014 and has been praised for its targeted approach. The positive effect that Locate Jersey has had on the island since its launch in 2008 is clear. Extra tax revenues and job opportunities have significantly boosted our economy and we have also seen increased confidence in the property market. We see no signs that the market will slow down as we move into the latter half of 2015. Clients have given us very positive feedback about the service offered by Locate Jersey and we welcome the news that the initiative may benefit from an increased budget going forward said Collas Crill Property Partner Paul Harben. Jersey sees 10% rise in new company incorporations Jersey experienced a 10% increase in new company incorporations in 2014 over the previous year according to a report released by Appleby. Last year also saw the total number of active companies on Jersey s registry rise slightly to 32 717 reversing a trend of gradual decline for the first time since 2007. These are among the findings of Appleby s latest On the Register report which provides insight and data on company incorporations in offshore financial centres and focuses on the full year 2014. Jersey is now regularly seeing more than 700 new incorporations a quarter for the first time since the global recession said Farah Ballands Partner and Global Head of Fiduciary & Administration Services at Appleby. This has helped push the annual incorporations total up to 2 771 for 2014--the best result for Jersey since 2007. Jersey firms win major Canadian venture capitalist work Two Jersey companies are key players in a consortium that has won a prestigious contract to vet wealthy applicants seeking ultimately 14 JULY 2015 jsy CONNECT PERSONAL. PROFESSIONAL. QUALITY. We ve been dynamically growing over the past 40 years so we can offer you experience you can trust combined with the innovation of our team delivering a fresh and energetic approach. Accounts Preparation Management Accounts Audit & Assurance Taxation Services Bookkeeping & Administrative Services Payroll services Business Start-Up Advice Company Secretarial Services Accounting Software Installation & Support Outsourced Accountancy Support Business Valuation Forensic Accounting 01534 785200 accounts Thomas Edge House Tunnell Street St. Helier Jersey JE2 4LU Rosscot Secretaries Limited is regulated by the Jersey Financial Services Commission LEGAL MATTERS Legal Matters Appleby advises Santander on re-organisation of private bank Appleby has acted as offshore counsel to Santander in connection with the re-organisation of its private banking division in Jersey successfully consolidating Santander s Jersey businesses within the Jersey branch of Santander UK plc. The transaction used the Banking Business (Jersey) Law 1991 that allows a Jersey deposit-taking business to be transferred from one bank to another by means of a Court-sanctioned scheme. The Appleby team was led by Wendy Benjamin Practice Group Head for the Corporate Department in Appleby s Jersey office assisted by Tom Fothergill Associate in the Corporate Department. Wendy Benjamin said This is the third time in the last two years that Appleby in Jersey has advised on the transfer of a banking business by way of a Courtsanctioned scheme. Schemes provide a flexible and costeffective method to banking groups for business re-organisations with minimal disruption to clients. During a time of intense regulatory change we anticipate further strategic re-organisations of banking groups including offshore subsidiaries and branches as banks assess capital requirements operational efficiencies and ring-fencing requirements. Ogier advises lenders on Glencore s USD15 .25 billion Revolving Credit Facilities Mourant advises on UBS move to International Financial Centre The Property team at offshore Law Firm Mourant Ozannes has recently advised UBS AG Jersey in relation to an agreement with States of Jersey Development Company to lease Grade A office premises at the high-profile new Jersey International Financial Centre. Pamela Doherty Managing Associate in Mourant Ozannes Jersey Property Practice was lead adviser to UBS. She said We are delighted to act for UBS a premier international bank in being the first tenant to commit to a lease of premises at the new Financial Centre. This transaction unlocks the first phase of the proposed six office block development of up to 490 000 square feet at the Esplanade Quarter. It shows UBS s continued commitment to Jersey having had 16 Law firm Ogier has acted as Jersey counsel to a consortium of 60 lenders in relation to Glencore s USD15.25 billion revolving credit facilities. The deal involved the refinancing of Glencore s existing revolving credit facilities entered into in June 2014 comprising of a new USD8 450 000 000 revolving credit facilities agreement and an amendment to an existing facility expanding it to USD6 800 000 000. The new facilities will be used for general corporate purposes and included a guarantee from Jersey incorporated parent company Glencore plc. Clifford Chance acted for the lenders as lead counsel and advised on English law issues. Ogier previously advised the lenders on Jersey law issues in connection with Glencore s USD17.34 billion revolving credit facilities entered into in June 2013. The Ogier team was led by partner Bruce MacNeil with assistance from associates Tara O Driscoll and Philip Keun. a presence in the Island for more than 30 years and employing around 200 staff and reflects continuing confidence and growth in Jersey as an outstanding financial centre. Jonathan Speck Managing Partner of Mourant Ozannes Jersey We were delighted to act for UBS in this significant agreement to lease in the new Jersey International Financial Centre. It highlights the strength and depth of expertise and commerciality in our Property team in Jersey and is indicative of the kind of major developments in which we play a central role. As a firm we are confident about Jersey s future as a premier international financial centre and are committed to our part in its continuing development. JULY 2015 jsy CONNECT LEGAL MATTERS Legal Matters Advising The Large Corporate Borrowers Kate Anderson English Solicitor Voisin Ok I ll hold my hands up some of my banking work is very standard formulaic and how can I put this quite grey. However there comes a stage in your career somewhere between traineedom and retirement when it all gets rather interesting. Gone are the days of being an inexperienced junior learning your trade by doing the bidding of one of your senior fee earners - you are now that experienced senior practitioner and it all becomes somewhat fun because you get to do the interesting work yourself. Fun Banking law I must be reading this wrongly you say. Well I don t just do banking law I advise on investment vehicles and where my funds SPV practice and my banking and finance practice meet that s where things start to get interesting. Lenders tend not to be high street banks borrowers tend to have a little more leverage as to the terms of the lending and acting for a large borrower can be quite addictive. When you think of banking and finance advice you may not even realise that Voisin give such advice. Indeed you may not realise that although we do act for lenders on a regular basis Voisin usually act for large sophisticated borrowers. By regularly acting on behalf of these clients we have become rather good at understanding just how to protect their interests. On any given day we may be working on anything from a standard senior mezzanine loan structure to a beautifully structured sharia compliant murabaha. The first advice that I always give to clients is to negotiate the package carefully at the beginning. Get the key terms into the term sheet talk to your Jersey advisors (and indeed advisors from other jurisdictions) at this point not months down the line when the facility agreement is almost in final form and there is little that can be done to change the terms. Gone are the days when you can leave the Jersey security until the rest of the deal is nearing completion. We used to be approached to act for the borrower once the majority of the non-Jersey aspects were finalised. When we enquired about the Jersey security package we often received the reply ...that hasn t been decided upon yet. Although in recent years the tide was turning on this practice the introduction of the Security Interests (Jersey) Law 2012 (the Law ) at the beginning of last year was a deal changer. To an extent it was acceptable to leave Jersey to later in the transaction when the ability to take security was only exercisable over specific assets. However now we can create Jersey charges over all of the assets of the party creating the security it makes the practice of leaving the Jersey security until last very dangerous indeed. I am sure that I cannot be the only advisor who has battled at the last minute to negotiate new terms to a security package in order that the borrower and its group of companies do not end up inadvertently starved of cash. Therefore when negotiating the loan the borrower should carefully consider the security being asked for and indeed what it is prepared to offer. It should consider the cash and asset flows and consider the liquidity and asset base of the grantor. It may not always be appropriate for an entity to provide security in particular if doing so may give rise to a trading whilst insolvent claim. As far fetched as that may seem I have advised a party which gave a guarantee where they would never have the assets to meet such a guarantee and which resulted in it trading whilst insolvent. One would hope that following the financial crisis this would no longer happen however if you are a director of such an entity it is an unpalatable position to be placed in. It is better to take advice at the beginning as to when a transaction may lead to a trading whilst insolvent claim than to actually end up trading whilst insolvent. The key is to use your advisors wisely. We can t protect your business if we don t know your plans and what you need to be able to do in order to achieve them. The sooner you instruct advisors the better. Ultimately underlying every banking transaction is the fact that the lender and the borrower often have an aligned interest for the borrower to succeed. Commercial Law Property Transactions Matrimonial & Family Law Wills & Probate Litigation Are you looking for a legal bursary Get a head start in the legal world by applying for the Voisin Bursary Scheme. If you are interested and want to know more please contact Emma Stewart - T 01534 500357 E emmastewart 37 Esplanade St Helier Jersey JE1 1AW Channel Islands. Tel 44 (0)1534 500300 Fax 44 (0)1534 500350 mail jsy CONNECT JULY 2015 17 APPOINTMENTS Trading places Aztec Group has announced the appointment of Geraldine O Rourke as a Director to lead and drive the Group s Corporate Services offering from its Jersey office. Mrs O Rourke previously worked at Abacus Financial Services Group where she set up Abacus Corporate Service Division which grew to employ over a hundred people in under ten years. She has led teams administrating offshore structures for corporate clients including employee benefit plans funds and special purpose vehicles as well as ultra-high net worth individuals. Mrs O Rourke said I m delighted to be joining the Aztec Group to lead their growing Corporate Services team in Jersey. It s exciting to be part Visit for all the latest business news Want more Aztec Group announces new Director in the Channel Islands of a truly independent dynamic and owner-managed business. Aztec has a fantastic reputation some of the most pre-eminent European fund managers as its clients great people and quality processes. Edward Moore Co-Founder and Chief Executive Officer at the Aztec Group said I am thrilled to announce Geraldine s appointment at the Group following a strategic decision to grow our Corporate Services offering in line with existing client demand and to seek out new opportunities across our jurisdictional footprint. Geraldine has a proven and distinguished track record at Abacus in establishing leading and growing a high quality diversified Corporate Service provider supporting many global leading institutional brands. C.I. Travel Group appoint Lydia Smith C .I. Travel Group has appointed Lydia Smith to the role of General Manager Channel Islands Outbound. In this newly created role she will manage the development of C.I. Travel Group s Bontour brand and work alongside the FlyDirect team to further grow the success of this brand. Originally from Leeds Ms Smith is a graduate of Sheffield University and has lived in Jersey for the past six years. She has extensive experience in the hospitality industry having spent ten years with Radisson Blu Hotels in Leeds the Costa del Sol and Jersey. More recently Ms Smith spent six months as Commercial Development Manager (maternity cover) for the Jersey Conference Bureau working with businesses and partners in government and private sectors to bring meetings and incentives into Jersey for the benefit of the local economy. She said I m looking forward to working with such exciting and well reputed brands helping develop both the Bontour and FlyDirect products. This is a fantastic opportunity to work with a strong and dynamic team bringing my experience to the on-going successes of CI Travel Group. I am delighted to welcome Lydia to our team said Robert Mackenzie Managing Director of C.I. Travel Group. She is well known and respected by those connected to the tourism industry in Jersey and will bring a new energy and focus to the marketing of our ex-Channel Islands brands of Bontour and FlyDirect. Barclays appoints investments head in Jersey part of the wider corporate specialist solutions team that covers cash liquidity management and investment distribution across the UK Gibraltar Cyprus and the Channel Islands. In this new role he will manage a team of investment specialists offering advice and arranging services to corporate fiduciary insurance and family office clients and service delivery across these jurisdictions. Chris Golding portfolio manager at Barclays said Simon s appointment as well as the increase in capacity for our advisory team for personal clients is a great boost for the investment opportunities available at Barclays. At Barclays we have invested in growing our team and providing new tools and platforms to ensure we can offer a firstclass service to investors across the personal corporate trust insurance and family office sectors. Barclays has recently appointed Simon Smith as Head of Corporate Investments Distribution in Jersey. Mr Smith is responsible for Barclays investment management and brokerage services across Jersey Guernsey and the Isle of Man client base. He joins as 18 JULY 2015 jsy CONNECT ind out for M your team The statistics about the damage that mental illness causes for both people and the businesses they work for are shocking but they re only part of the story . Slowly but surely we are becoming more willing to talk about this formerly taboo subject . And slowly but surely the business case for investing in the mental health of employees is becoming undeniable . Ben Qu r e meets some of those affected and speaks to those working to support them . Every year in the UK 1 .2 million people suffer from some kind of mental health issue in the workplace . Collectively those people take 11 .3 million days off sick it s an issue that affects women slightly more than men and the key age range is the 45-54 the time at which people are significantly more likely to suffer from a mental health condition that affects their work . 2 words Ben Qu r e A Photography On top of that a sixth of people in work might suffer from symptoms associated with poor mental health sleeplessness fatigue irritability or worry without having a diagnosed condition. The OECD puts the cost of all this at something like 70 billion per year with employers losing 26 billion due to time off and lost productivity or just over 1 000 per employee. Similar figures aren t collected for Jersey but the data that exists points to a problem that is growing and growing. In the public sector where mental health issues are more prevalent because of spikes in key occupations such as healthcare or teaching the number of employees affected rose from 326 to 414 (a 26% rise) from 2010 to 2014 while the number of working days lost increased from 7 575 to 10 149 in the same period (a 33% rise). All of those figures point to an issue that is both affecting a lot of peoples lives and creating a significant cost to the economy in terms of lost productivity. Politicians in Jersey including Chief Minister Ian Gorst and Health Minister Andrew Green have made mental health a priority. A comprehensive review of mental health services is taking place legislation is being reviewed and a scheme called Talking Therapies was set up in September to create a new way for Islanders to get access to help. At the sharp end of the issue in the Island is the Jersey Employment Trust a charity established 15 years ago to support people with disabilities or long-term health conditions back into the workplace. The charity has a team of 20 working with a diverse caseload that includes people with physical disabilities or who might be on the autistic spectrum or have brain injuries or learning disabilities. And increasingly they re dealing with mental health issues. Robbie Dark 20 JULY 2015 jsy CONNECT SPECIAL REPORT Emma Powell JET s Employment Team Leader says that their workload particularly in respect of mental health issues is increasing. There is a significant increase in referrals coming our way she said. We have seen a significant rise in figures over the years in relation to referrals and going on 2014 figures 47% of referrals to JET are individuals with a mental health condition. JET s role is to work with employees and employers to help people back into the workplace for employees that might mean a change in working hours a change in jobs a change from one workplace to another or a change in career. For employers it means guidance on supporting staff on how to reintegrate them back into the workplace after time off and working to tackle the stigma that still pervades over mental health. Miss Powell said Our role is carving out an employment path that is conducive to health and well-being and that might be part-time or full-time work it might mean a different employment environment or it might mean a different kind of employment. We can support the employer as much as the client. Our service is there for the employer as well as for the client. Especially if there is a job retention scenario where it can jsy CONNECT JULY 2015 21 b The OECD puts the cost of all this at 70 billion per year with employers losing 26 billion due to time off and lost productivity or just over 1 000 per employee . SPECIAL REPORT SPECIAL REPORT be daunting for an employer to think what do I need to do for this individual or how will this impact the team or how will this impact the day to day running of the business A key point about the impact on a business is that it is the 45-54 age group that is statistically the most likely to experience a mental health issue that affects them in their work. At that age range people tend to be in middle to senior management members of staff whose absence from the workplace will have an effect not just on their own productivity but the productivity of those around them. Senior Well-Being Practitioner Lee Bennett is a key member of the JET team he s a health professional with ten years experience in the NHS and Jersey. He works with people who come to JET for help and with the individual caseworkers who support the clients on a one-to-one basis. He says that the big recent trend is a better understanding in the workplace and society generally about mental health issues and a slow but welcome change in our willingness to discuss them. In terms of perception in Jersey it s becoming easier and easier to discuss he said. The language is becoming more accessible and that runs from public understanding right through to business. They are starting to get information that s making the very clear point that we need to do something about mental health. In the four years that I have been here I have seen quite a dramatic change in how the terminology and understanding have changed. People have become more comfortable with what it means and specifically around employment. My background is in cognitive behavioural therapy (CBT) and there is significant evidence of CBT as an intervention for workplace mental health support and the last two or three years has seen significant research into this area. I have worked in both Jersey and the UK and they are quite different. In the UK for example there is a government-funded initiative for Mindful Employers and they have an accredited stamp that might be about wellbeing policies a staff handbook or a support team. At the moment Jersey does not have that sort of thing. A key point about the impact on a business is that it is the 45-54 age group that is statistically the most likely to experience a mental health issue that affects them in their work . At that age range people tend to be in middle to senior management members of staff whose absence from the workplace will have an effect not just on their own productivity but the productivity of those around them . My role is lots of different things. It s about dispelling myths and discussing language working in collaboration with external services such as health and social services and the voluntary sector and organisations such as MIND. However there is still a long way to go in our understanding of mental health. We work with MIND Jersey to generate a far more robust understanding of language and what it means to be mentally unwell. There s a cruel irony to that while society and workplaces don t understand mental health issues and do enough to support people through them at the very same time the individuals who constitute society are experiencing those issues at an increasing rate. The latest UK figures show that one-infour people going to the GP have a mental health issue that might not mean chronic depression bipolar disorder or suicidal thoughts it might be anxiety sleeplessness stress or sustained low mood. And Mr Bennett says that one of the complicating factors is that those issues can be caused by other health issues or spending time out of work if for example you ve been struggling to find employment for six months it s likely that will cause some stress and anxiety. And then you have a further issue to deal with. But the goal of JET isn t to get someone back into the job that they just left it s to enable them to make their own choices about what they want to do and support them towards that goal. Emma points out that might mean working different hours working in a different role working for a more supportive company or even working in a different industry. It is appropriate to say that some clients jsy CONNECT JULY 2015 23 come to their own conclusions and realise their previous sector or previous role would not be conducive to good mental health said Miss Powell. So there might be a shift to part-time work using transferable skills to go to another job or moving to a different work environment. But it s important that these are decisions that people make for themselves guided and supported by us. Enabling is the word. We are facilitators at the end of the day. You actually have to go out there and do it. That point about how the client has taken the lead is picked up by Mr Bennett taking a hypothetical example of someone who had taken six months off work because of a mental health illness. He said There is every opportunity that person can return to that workplace. We use particular interventions so that everyone can return to work with their employers understanding both for their productivity and for their mental health. And they will be taught skills about managing their mental health. Because its something that a person is experiencing by themselves they think that if they remove themselves from the situation 24 JULY 2015 jsy CONNECT and put themselves somewhere else they will get better. It doesn t happen. They take their mental health with them. Case study 1 Ian Baudains Support co-ordinator for MIND Jersey For my whole working life I have suffered from depression although I did not realise it at the time. You don t necessarily realise it it creeps up on you. And you reach a point where you think ...good grief how did I get here I became unwell during the third year of my degree. I studied mathematics at Exeter. When I was first applying for work although I didn t realise it I was probably clinically depressed even though I was undiagnosed. What that meant was that I found myself becoming increasingly anxious at work. I worked for one of the large accountancy firms and it was a fairly intensive programme I was working long hours and studying for SPECIAL REPORT Jersey Employment Trust s guide to supporting colleagues with mental health issues in the workplace How to identify when a colleague might be struggling with mental health issues Changes in peoples behaviour or mood or how they interact with colleagues Changes in their work output motivation levels and focus Struggling to make decisions get organized and find solutions to problems Appearing tired anxious or withdrawn and losing interest in activities and tasks they previously enjoyed Changes in eating habits appetite and increased smoking and drinking. How to support a colleague with mental health issues Choose an appropriate place to talk Do not make assumptions Reassure professional exams in the evening. It really took over your life. My concentration was beginning to lapse my mood was becoming increasingly low and I was becoming more withdrawn and probably from other peoples point of view my behaviour might have appeared erratic. Eventually I was taken to one side and let go . What was interesting was that I was let go because in the words of the Partner who spoke to me I was clearly heading for some kind of breakdown . Subsequently I have had various jobs and they have all been marked by depression. I have had experience as an employer and an employee. At one point I was running a business with a sizeable workforce and turnover. At that point I was working very very hard to maintain the appearance of having everything together. Whether I was successful is a whole other matter. I was fortunate to be surrounded by lots of very good people. I left the job that I was talking about in 2006 because I was unwell basically. I found work again subsequently at another large firm but again I became unwell and I went on sick leave and came back to find my contract had been terminated. And that s when JET became involved. Subsequent to losing that job I became increasingly depressed and suicidal. I was admitted to Orchard House in the winter of 2014 I spent a reasonably short time in there and I have been recovering since then. When you lose a job it s bad enough anyway. When it s because of ill health or mental health it s a really crushing experience. You feel like the broken toy at the back of the cupboard. Your self-esteem completely evaporates. For me the benefit of JET was beginning to rebuild that and think it s possible that I can work again and overcome the anxiety about going to interviews. It takes quite a lot of effort to get over that hump. For me it s simply getting the confidence to go and speak to a potential employer and say I am I can do that job. You re always wondering what the person behind the desk is thinking of you. And because of the nature of how you are feeling about yourself it feels consuming. It feels like one is admitting that one is a failure. The jsy CONNECT JULY 2015 25 Listen and respond flexibly to support their individual presentation Encourage the staff member to seek advice professional help and line management (to implement an action plan). How to assist a colleague with mental health issues to return to the workplace Use practical steps and workplace adjustments such as flexi-hours environmental adjustment and a phased return to work Consider changes in role such as reallocation of duties or redeployment to a more suitable role Other support options can include encouraging resilience from the individual in developing activities that support good mental health (exercise healthy eating lunch breaks) provision of signposting to self-help material and an action plan to proactively manage their mental health (identifying early warning signs or symptoms when support is needed from line management and positive steps to take). SPECIAL REPORT nature of depression is such that these feelings are intensified. One of the worst things I think about having a mental illness is that you feel tremendously isolated you don t really know if anyone else can understand what you are thinking or feeling. Sometimes your thoughts are shocking to yourself. I understand for example what it means to consider ending your life and to be able to talk to someone who feels like that without being shocked or judgmental is hugely important. We need to talk about mental health not simply as something that goes wrong. Mental health is like physical health it s continual. You can be healthy or unhealthy or anywhere in between. With the right advice and support depressed people can do good work and anxious people can do good work. That s important. If you can catch things early you are effectively preventing an HR problem further down the line. on top of the family situation I was dealing with at a young age coupled with having no proper support mechanism around me I found it very challenging. While luckily I don t have problems with alcohol I do think that alcohol was also a factor in me feeling quite down at the time the social drinking is quite extreme in Jersey and it can be a bit unexpected and difficult to manage when you first move here. The end result of these combined factors was that I had a moment where I cracked and took 100 paracetamol one Friday evening. I wasn t desperately trying to kill myself - it was definitely an adolescent cry for help but after I went to A&E I realised that I really wasn t okay and wasn t coping. I didn t have anyone else to talk to but my boss was a very decent person and I felt like he was someone I could be honest with. He was kind and very supportive and encouraging. He could see on the Monday morning that I didn t look very well and I went out on a limb and spoke to him - I actually expected to lose my job but he was absolutely phenomenal. He checked in on me to make sure I was alright and organised for RBC to pay for me to have some counselling sessions. They established that I was not suffering from medical depression but I was young vulnerable and way out of my comfort zone without any help. This is obviously quite an extreme example but I think that people can sometimes find themselves in extreme situations. I have never had a repeat of that incident it was just too much pressure on someone too young. That said thank goodness for RBC Because of the policies they had in place and their supportive culture I quickly got much happier and even got promoted I found that incredibly encouraging - not only did they not hold my crisis moment against me they actually promoted me. They said you ve been through a horrible thing you ve made the most of it and your work has been exceptional . I thought that was a really big thing to do. It actually resulted in me feeling confident enough to return to the UK and go to university which I had been putting off. And of course I returned to RBC during my breaks to pay for my studies. Fast forward 20 years later and I ve got my own company and I employ six people and I ve brought the property that I fell in love with in St Brelade s Bay the first day I arrived in Jersey. I do wonder though what would have happened if RBC had not had those policies in place. I had no family no boyfriend I was only 18 - I barely had anywhere to live what would have happened to me This is quite an unconformable thing for me to talk about but the reason I decided to is because I know that this experience has influenced my own workplace policies. I employ a young incredibly bright people who are trying to find their way in the world and I m a small business - this means I don t necessarily have the budget to put in place things like private healthcare like RBC do but it does mean I can create a positive happy environment where they all feel able to talk to me to be human and to be valued for it. I have seen a few younger people go through very tough times much like I did and being able to support them through it has been been extremely rewarding not to mention good business - the quality of work that you get from someone who is able to be themselves to fail sometimes and still be valued is so much better than the work you get from a proverbial cog in a machine. If you want to see some of this culture in action my team have started a called happywork2 where they post a bit about our human lives at the workplace that is Marcom inbetween the seriousness of our dayto-day work. END 27 Case study 2 Dara Lutes-Guest (pictured left) Director of Marcom Collective I came to Jersey at around 18 to move in with my boyfriend which meant I had no family or friends around me - I think there s quite a lot of people who relocate here for work in the same situation. You re making new friends and that s great but it s often through work and they re not the same as relationships built up over a long time. My family was going through a horrible time and it wasn t a very positive living environment which was also part of the reason I moved so as well as being very worried about them I felt guilty about leaving. Fortunately I had a lovely work environment at RBC but after I went through a relationship break-up jsy CONNECT JULY 2015 CAREERS o By MARTHA MACDONALD W ith the mounting pressure on young people to get better grades go to university and climb the career ladder I decided as a real life young person to go out into Jersey businesses and investigate the employment opportunities available in the Island. The world of work can be a scary place and contrary to popular belief career paths aren t always neat and tidy. I ve done the school thing the PE lessons the cringeworthy proms I ve worked hard for my grades and now I m claiming my right as a school leaver to ask the question What can this industry offer me If you re fresh out of school or uni and you feel as lost as I did when suddenly no one was structuring my time for me anymore this feature will hopefully show you the diverse ways in which you can arrive at the same employment goal. This month I mysteriously appeared at Waddington Architects in a puff of smoke and threw a tantrum until someone would sell me a life in architecture. It worked a treat and I spoke to the very man himself Mike Waddington along with trainee Tom Perchard about why architecture is the place to be for a young person like me. That rhymed but let s not dwell. What is it like to build a building Is it just like playing with Lego but on a grander scale If so we don t need to do the interview I m already sold. 28 Mike Waddington Head of Waddington Architects Martha MacDonald Talk to me briefly about your route into architecture. Mike Waddington I suppose my route into architecture happened via a wrong turn. I originally wanted to do medicine but I couldn t get the grades. By which stage I d already committed to biology physics and chemistry. I d always felt I was quite creative but boringly perhaps wanted to think of a profession. So architecture came into the frame and I ended up getting a place at Kingston School of Architecture. I d worked for my first year out after my degree in an office which was quite old fashioned and very staid. I had to escape that and go and work on a building site because I just couldn t stand a year in this office. I finished my diploma two years after that and was really quite worried that I d got myself into a career I wasn t going to like. I later landed a job with a really interesting very creative company in London and it just changed my view. I was in an office that was really fresh young and exciting. This was the right environment for me. From there it all fell into place and I fell into love with it. MM It sounds like you had several doubts about this career path and there were real moments of struggle for you. MW It s a seven and a half year course when you add it all up. We were told when we started in our first year to take a look at the person on our left and our right because at least one of those people won t be finishing the course. I used to get very intimidated by people that wanted to be architects ever since they were six. I thought I obviously haven t got the right level of passion but oddly I think this sense of doubt has been quite useful throughout my career. I think it s quite interesting not always to jump to the first conclusion when you re doing something creative and I think being prepared to try things out and having a sense of self-doubt is quite important creatively. MM What kind of person do you think flourishes in architecture MW I think you ve got to want to try and be helpful because I think ultimately if architecture doesn t make something better what s the point If it can t be used what s the point But equally there are the hidden ingredients between a building and a piece of architecture and a lot of those are about beauty and delight. It s about things that are sometimes considered quite vacuous but without them you are left with some of the soulless developments around the world where nothing about it really inspires you or lifts you. I think architecture has got that ability to move people. Sometimes a scheme conceives itself in the very first sketch you do other times it can take months of re-working to get it right. I think that a sense of generosity is what ultimately shows through and creates that sense of delight. MM You run your own firm now how much has that changed your workload and your outlook JULY 2015 jsy CONNECT CAREERS Sell me a life in... MW It was a long time since I was studying but architects get zero training in business. So you are sitting there designing buildings reading up about architectural theory a little bit understanding how technically buildings are put together. The magic component that is completely missed from architectural education is the real understanding of what a client is what a budget is what a fee is and how a fee ultimately pays for a member of staff. It s only when you get in to actually practicing architecture and you get a tap on the shoulder to say I really thought you d have finished that drawing today we re on a tight fee here and we need it doing by Tuesday that you realise that what you re actually doing has a business dimension too. MM You ve been involved in lots of different projects over here ranging from office buildings to the chough re-integration point at Pl mont - what s this diversity like MW We have to be diverse in the Island because I don t think the opportunity really exists to specialise in any one Architecture particular strand of architecture. In terms of specific projects I think that one that springs immediately to mind is Wesley Chapel. There we had an unusual heritage situation of a firedamaged classical chapel the need to build an efficient and quite dense housing scheme around it with parking underneath and still end up with this little public square in the middle. In terms of commercial office space we were the architects for the Ogier headquarters that was Jersey s largest office building at the time and also its first BREEAM accredited building so it was the greenest office building too. I m fond of it because it has a kind of timeless appeal. It integrates urban art and public art within the facades. I like the calmness of it but also that it MM Sell it to me Mike still responds to the scale and grain of the Esplanade maintaining its Jersey relevance. MW Don t expect to be the richest person in terms of monetary earning although I think you can have a comfortable lifestyle. The great thing about architecture is that you develop a passion for it and a passion for learning about it and that never stops. I don t feel very different to the very first day I set foot into an architecture studio. By that I mean I m still learning and I m glad to be learning. I think it s a career that steps outside of being a job and I think it s something literally you can enjoy all your life whether you re working or playing architecture s always there. Martha s verdict How wonderful that this article was three A-level grades away from being Sell me a life in...medicine Mike s prestigious career in architecture was borne out of as he calls it a wrong turn. I take comfort in the fact that even the most successful people in the island have had bumps in the road and they didn t have everything sorted from day one. Mike even talks of having doubts about his career path after completing his diploma. This just goes to show that in spite of the hard times if you persevere learn as much as you can and fight to find the right place for you in the industry you could find yourself rising to the top. jsy CONNECT JULY 2015 29 CAREERS Tom Perchard Architecture trainee Martha MacDonald What is your role here at Waddington Architects Tom Perchard I m kind of underneath the architects helping them with planning applications and by-law applications. I ve got a few jobs which I m looking after but they re small scale at the moment. This role is quite nice as it s getting me started and more confident in the industry. The main thing I like about my role is that there are a lot of people around me that can help me and build my knowledge. MM So you could talk to me about the route you took TP I finished my A-Levels and then I went and did a three year degree at Oxford Brooks University studying Architecture followed by graduation with a first class honours. Then I took a year out working for a tutor in Milton Keynes David Grinley Architects. After that I went back to university for two years to do my Diploma. Unfortunately I got ill during that time so I had to take half a year off and go back the next year. I completed that in 2012 and 30 then I took two years off to go to the Commonwealth Games to represent Jersey. MM What A-Level subjects did you study at school TP I did Maths Physics and Design Technology. A lot of people do art and that s what most universities expect but they normally just ask you to provide a portfolio. MM So when you re in training is there a mix of academic and practical work TP To become an architect you have to do 24 months in practice. So I haven t started yet really I ve just done a bit of work experience now and then. I have to go away to England to study a bit for a few days here and there and then do some exams. MM With that kind of sandwich structure you re often having to switch from uni into working. What was it like making that jump Was it very different from your studies TP With studies you have to be on top of your time management but I really enjoyed that year out. It was very difficult going back into studying afterwards because you have to get back on your time management but you settle in quite quickly. MM What advice would you give to other young people who are looking to do a similar career or go into the same industry TP I d say definitely get some work experience. When I was 16 I did two weeks at Queree Architects and I ve done bits and bobs here and there which confirmed that I wanted to be in this industry. That and having a general awareness of what s going on in the wider world keeping up to date with what s going on using resources like Dezeen magazine. MM What made you choose Jersey TP I came back to do my sport and then I was thinking about where to apply and started enquiring and looking at the places over here. I also really like the lifestyle balance here. JULY 2015 jsy CONNECT CAREERS Martha s Top tips Don t be afraid of doubt There will always be times when you suddenly think What am I doing Why am I doing this Am I good enough This is all part and parcel of being a vulnerable human being. The real challenge is harnessing these doubts to constantly question your work to push yourself harder. Find the place for you - Don t always think that you have to adapt to fit into a job description or working environment. Don t shy away from finding the best environment for you. Think of it in terms of what the industry can offer you not the other way around. Try to break the boundaries and mould a place or job around your strengths and weaknesses so that you can flourish. Move with the times Particularly with a design-oriented industry like architecture that is constantly evolving you have to stay up to date. Using architectural magazines or online resources research current industry trends and see how you could follow these trends or maybe even set some of your own PICTURES Gary Grimshaw Martha s verdict Like anything architecture requires a whole lot of slog before you become established. The thing that perhaps makes this industry more challenging is that it takes about a million years to qualify. Okay okay sevenand-a-half years if you re looking for the 999 992.5 years I added for dramatic effect. This means you ll have to spend a lot of time underneath the real architects helping with planning applications filling in paperwork before you really get involved. However if Tom s outlook is anything to go by this is a time to learn from the people around you and hone your craft before you re thrown into the deep end. PICTURE THIS A This month s Picture This is quite literally caught between a rock and hard place - and that s exactly where they want to be . Chances are you will walk on live in or drive down something produced by RONEZ every day of your life in Jersey . So this month s feature allows you to dig down a little further and see where it all comes from . PICTURES picture this . .with ronez The Ronez operation has been serving the Island since 1869. Gary Grimshaw 32 JULY 2015 jsy CONNECT PICTURE THIS The blasting sequence appears to show a single detonation but the individual holes are being fired approximately 8 milliseconds apart. jsy CONNECT JULY 2015 33 PICTURE THIS Ronez import bulk cement to the Channel Islands using their 1000 tonne ship the MV Ronez. The cement is transferred from the 500 tonne silo terminals at St Helier Harbour to the concrete and concrete products manufacturing facilities. 34 JULY 2015 jsy CONNECT PICTURE THIS Ronez provides thousands of tonnes a year of crushed rock aggregates sub-base material secondary recycled aggregates sea defence material and single size aggregates. The 21st century team take a break to recreate an early 20th century photograph of the Quarrymen and women. jsy CONNECT JULY 2015 35 Courtesy of Soci t Jersiaise PICTURE THIS Last year Ronez manufactured over 800 000 concrete blocks along with precast kerbs edgings and in excess of 9 000 square metres of block paving. 36 JULY 2015 jsy CONNECT PICTURE THIS The ready-mixed concrete plant supplies a huge range of products including structural water resistant mesh replacement fibre reinforced concrete and floor screeds and operates with a fleet of 11 mixer trucks and 2 concrete pumps. The contracting arm Pallot Tarmac maintain and resurface the Island s roads and lay all types of asphalt surfaces. Courtesy of JEP jsy CONNECT JULY 2015 37 PROMOTIONAL FEATURE Technology the Great Enabler BY LISA MCLAUCHLAN Head of Commercial Operations Sure W e have all seen our working and personal lives transformed by technology. Email and social media enable us to instantly send messages around the world for free. With smartphones we can be online 24 hours a day no matter where we are letting us work or play at times and in places that suit us. Given the transformational capabilities of technology it is something of a curiosity that in the main bricks and mortar retailers have been slow to change the shopping experience for their customers. Whilst shop layouts and window displays change on a regular basis the basic process of walking into a store taking a look around whilst waiting for an assistant to become free before making a decision and then standing in line to purchase the item has not changed in decades. This however is set to change. The new Sure store in King Street has been designed to make the most of technology to make the shopping experience better and more satisfying for customers. The store uses technology to give greater flexibility to customers thereby empowering people to shop in the way they want rather than in the way the retailer has dictated. By installing large interactive touchscreens we have given shoppers the opportunity to find information about Music Who will win in the battle for our ears The Internet has disrupted few industries as much as music. In just twenty years we have gone from a world of lovingly curated CD collections on display in people s living rooms to playlists hidden away on our many devices. A battle for our ears is currently raging as rivals to the almost ubiquitous Spotify and to a lesser extent Pandora have suddenly popped out of the woodwork with the aim of delivering a choice of platforms upon which you can build your playlists. Celebrity-backed Tidal was the first to announce that it was joining the race by claiming that it would provide a better deal for artists and offer better sound quality. Led by Jay-Z and publically backed by the likes of Madonna Beyonc and Rihanna Tidal claims to be the music makers music platform. Tidal s biggest concerns may not however come from the existing streaming platforms but the newest player in town Apple Music. Launched last month Apple Music doesn t appear to offer much that isn t already available in the market but does have the enormous advantage of being a native app bundled with iOS and therefore immediately available to Apple s customer base. Like Tidal Apple Music has a social element that enables fans to connect with artists. It is also priced similarly to Spotify but with millions already using iTunes and many more who are already missing Zane Lowe s Radio One slot now able to hear him broadcasting with Apple Tidal has an enormous marketing challenge ahead. Who will succeed It is too early to tell but one thing is for sure the music technology revolution continues and your ears are the prize 38 JULY 2015 jsy CONNECT PROMOTIONAL FEATURE Gadget Superfast broadband for all pockets Samsung s Galaxy Ace 4 As more smartphone users enjoy experiencing the superfast mobile broadband speeds that 4G delivers Samsung has launched a handset that puts all the advantages of 4G into everyone s pocket. The Samsung Galaxy Ace 4 is a smartphone that combines a superb user experience with 4G connectivity at a very reasonable price. Crucially because there is no extra cost for using 4G services Ace 4 users can enjoy all the benefits of mobile broadband without having to worry about bills. Powered by a 1.2GHz quadcore processor and running the latest version of Android (KitKat v4.4) the Ace 4 has the power and speed you need to make sure that its superb connectivity works for you. Talking connectivity the Ace 4 has another trick up its sleeve with wireless NFC (Near Field Communication) capabilities that enable you to easily swap files and media with your friends. It also packs a 5Mp camera and a 4.3 inch super Amoled screen that displays your pictures with the crispness and clarity they deserve. phones and price plans themselves if that is how they prefer to shop. We have also installed a number of self-service kiosks through which Sure customers can quickly pay their accounts or top-up their phones. The importance of this is that it means people can choose not to wait thereby saving a huge amount of time for our customers. However shopping is also a social experience and there are times when we want to speak with an assistant who has the knowledge and expertise to help us which is why there will always be assistants on hand to help you make informed choices. The beauty of technology is that it enables us to create new experiences from old ways. This is as true for high street retail as it is for reading books and is why we hope that our store in King Street will inject a new sense of excitement into shopping and at the same time make for an easier and more satisfying shopping experience. w Technology Visit for all the latest technology news or subscribe to get the latest news straight to your inbox jsy CONNECT JULY 2015 39 Looking for more Technology News FEATURE Recruitment is Critical to Success In today s tough economic climate it s imperative that job seekers are well equipped for a staunch battle against their competitors in order to win over potential employers . Likewise employers are realigning their proposition to ensure they attract the top talent . Patricia Redmond Practice Manager at Rosscot Chartered Accountants provides an insider s view of exactly what recruiters are looking for . 40 JULY 2015 jsy CONNECT FEATURE RECRUITMENT When undertaking our recruitment process we realise that the people who work for us are the driving force behind our success as a business. Due to this candidates must have more than just the right qualifications in order to succeed. Excellent academics and technical skills are mandatory but often it is personal qualities that make a prospective employee really stand out amid tough competition. The ability to communicate effectively both verbally and in writing is one of the most important attributes any candidate can possess. At Rosscot many of our clients do not have a background in finance so it is vital that we are able to liaise with them in a language that avoids technical acronyms. Furthermore being able to influence others in the workplace in an effortless manner especially in trying situations is tremendously valuable to any company. We need our employees to take a methodical approach to their work. The ability to solve complex problems is essential when looking after clients in the accountancy arena. As the accounting industry is constantly evolving we need individuals who are able to adapt to transition quickly in order to give themselves and the company an advantage over other firms. The right candidate will be able to embrace change and see each challenge that they face as an opportunity to learn. To make our business stand out from the crowd we ensure that we adhere to the strictest ethical standards in the process. We need to be trusted so our employees must also have the honesty and integrity that enables us and our clients to have confidence in them. Candidates must be eager to develop their career. As well as being a mandatory requirement for most of our recruits and employees we want our team to remain competent and current in their role. It is important that we invest in our workforce to enhance their learning experience as well as their expertise. In one of my favourite quotes the CFO asks the CEO What happens if we invest in our people and they leave to which the CEO replies What happens if we don t and they stay In my view this sums up the importance of continued professional development perfectly and the need for every organisation to grow their own talent from within. Although there is always a risk of recently trained individuals leaving the firm in pursuit of other opportunities we believe it is more desirable to have a highly motivated workforce who are constantly striving for professional advancement rather than viewing their position as merely a job. As a consequence we believe that in this day and age it is still hugely important to offer a benefits package on top of a competitive salary especially in Jersey where there are skill shortages. Nonetheless we are aware that these only form part of the employment package. On top of all else it is our positive working environment and being part of a great team that really motivates our staff to deliver exceptional results. For any business staff turnover constitutes a considerable expense so recruiting and retaining individuals with shared values is vital in order to succeed. The ability to communicate effectively both verbally and in writing is one of the most important attributes any candidate can possess . At Rosscot many of our clients do not have a background in finance so it is vital that we are able to liaise with them in a language that avoids technical acronyms . jsy CONNECT JULY 2015 41 FEATURE Navigating the transition from full time education to career building confidence at work becoming a better leader and gender diversity and inclusion are some of the hot topics important to the millennial generation irrespective of where they are on the career ladder. As a Partner at PwC one of my responsibilities is for our people and ensuring we do the right thing for them at all career stages. Put simply to invest in the development of everyone who joins us we firstly take the time to understand their career aspirations and offer them the support and opportunities they need to achieve them. So irrespective of their position within the firm whether they are an intern working with us for a number of weeks a school-leaver or graduate joining us to qualify or perhaps a manager reaching for another milestone promotion we strive to offer valuable support and development opportunities 42 JULY 2015 jsy CONNECT to help shape their career and fulfil their potential. In return our people must have a thirst for learning and developing not only themselves but also those around them all of whom have different perspectives and aspirations which means we re constantly learning from each other. Here in the Channel Islands the level of diversity and the different viewpoints our people offer is reflected in the 23 different nationalities we currently employ across our Jersey and Guernsey offices. In our experience having individuals from a variety of backgrounds with different talents working together really helps us maximise the uniqueness of each of our people which in turn translates into the highest value for our clients. Looking beyond the Islands to demonstrate the value PwC globally places on diversity the firm recently held its second Global Diversity Week across the PwC network. This consisted of a series of events to energise and engage our people and By PwC Partner John Luff FEATURE RECRUITMENT campaign by UN women to mobilise one billion men and boys in support of gender equality. At PwC our Purpose globally is to build trust in society and solve important problems. Gender inequality is one of the most persistent problems of our time and by committing to action and engaging our personal and professional networks we can really make a difference. A really important message to take home is that gender equality isn t just a women s issue but that men have a crucial role to play too. It s definitely something I ve placed high on my agenda for my tenure as People Partner here at our Channel Islands offices. Looking more broadly at male and female millennials in general one of my key roles over the coming years is to take the broadest view of talent development in preparation for the aforementioned CEO Class of 2040. Across the Islands it makes sense that businesses irrespective of industry should offer the widest and deepest possible array of experiences to promising young people in their training programmes and of course encourage both young women and young men to shine from day one. From PwC s perspective it s really encouraging to see that our approach continues to appeal to this generation as evident from the fact that for a 12th consecutive year we ve been ranked No.1 in The Times Top 100 Graduate Employer of the Year 2015 awards. What matters most is that this coveted title is based on the views of the students themselves. Awards like this are testament to the fact that it s absolutely essential that local organisations listen to and understand what motivates this career-confident and ambitious millennial generation so that our businesses can attract develop and retain this promising young talent. 43 Encouraging talented young women and men to shine from day one demonstrate global and regional leadership commitment to creating a more diverse and inclusive workplace. As part of its ongoing commitment to diversity PwC also regularly publishes research including the recently launched report The Female Millennial A New Era of Talent which examines key themes integral to the successful attraction retention and development of the female millennial (those born between 1980 and 1995). This year s report puts the female millennial front of mind and is based on international research with 10 105 millennial respondents from over 70 countries worldwide 8 756 of whom are female. This particular group is becoming a larger and larger part of the global talent pool and is set to make up 25% of the global workforce by 2020. It s also of no surprise that gender diverse boards produce better results and the statistics indicate it s expected that at least one third of 2040 s incoming CEOs will be women. So here in the Channel Islands it really is essential that organisations listen to and understand what motivates the local female millennial generation those who ll actually help shape our Islands future. With this in mind at PwC we re looking forward to hosting a networking event in celebration of female millennials across the financial services industry later this month. With the recent announcement that PwC has again been named in The Times Top 50 Employers for Women 2015 which recognises organisations that are leading on workplace gender equality we re pleased our firm is on the right track. Looking at our current numbers as it stands today our PwC offices in the Channel Islands are 44% female with 33% forming part of our senior leadership team so we also appreciate that there s a way to go yet. So what else can be done Well most recently our Global Chairman Dennis Nally announced PwC s involvement in HeForShe a jsy CONNECT JULY 2015 FEATURE Humanised Recruitment in a Digital World By Jeralie Pallot MD Rowlands Recruitment The arrival of the digital age has revolutionised every aspect of our lives - both personal and professional and the recruitment sector is no exception. The number of channels for employers to reach potential employees has exploded over the past 5 years giving unprecedented access to information and people to facilitate recruitment which is a huge positive but also raising new issues that our sector must face head on. The key facet of digital communication is its directness. Potential employees can see the social media channels and or website of their desired workplace and understand the fundamental nature of the business s operations much more clearly. They can get indepth insights into what the business has done is doing and will do enabling the employee to get a much clearer picture of the culture and whether they see themselves fitting in there. This is all incredibly positive but also means that candidates at interview can t really be forgiven for not doing their homework - the employer will wonder why they didn t google it What candidates must remember is that just as they can see more about potential employers so too can potential employers see more about them. Jobseekers should be careful with their so-called digital footprint what goes out on social media is in the public domain and many larger companies have teams dedicated to screening new recruits Facebook Twitter and Instagram profiles amongst others. Potential recruits need to be careful that whatever they post in a public forum is something they would be comfortable letting their new boss read. Social media are an incredibly useful tool for employers to reach specific audiences - particularly the 18-25 graduate demographic. These socalled digital natives don t remember life pre-internet. Digital platforms are ones they re most comfortable using and employers can really expand their reach during recruitment by embracing these platforms. Social media isn t a threat to our sector it s an opportunity to be embraced after all when you re providing a personal service it makes sense to use the most personal platform Also by keeping our own social media channels updated and fresh and thereby attracting people to our feeds we can provide an expanded reach for employers looking to hire increasing the reach of job adverts through sharing and promoting across channels providing the service we ve always provided just now on a digital platform. While direct access between employer and candidate can be achieved through effective use of social media there is simply no replacement for that face-to-face understanding of people and where they would fit in the workplace. Of course this is something that can happen at interview but as every recruiter knows the interview is the final step of a thorough process. We provide support and guidance through the application process for both employer and potential employee with the use of interview techniques and preparation workshops as well as psychometric and skills testing. We also apply our human insight and experience in the recruitment process to make recommendations and referrals that a digital programme may not necessarily pick up. And of course with the proliferation of a job advert s reach comes a proliferation of applications which can become unwieldy to manage in-house. Recruitment agencies play a key role in filtering through those applications ensuring that the employer only sees applications that they would take into consideration. Above all though it is the personal touch of our approach which enables both candidates and clients to get the most out of digital innovations for recruitment while still preserving the benefits of a personal friendly and effective approach. Jobseekers should be careful with their socalled digital footprint what goes out on social media is in the public domain and many larger companies have teams dedicated to screening new recruits Facebook Twitter and Instagram profiles amongst others . jsy CONNECT JULY 2015 45 FEATURE By JT Group HR Director Richard Summerfield . Even for a technology company such as JT our people will always be our greatest asset. And in a small labour market such as Jersey that means recruitment remains one of our most significant strategic challenges. It s an issue that is common to all telecoms operators in small states around the world and so was one of the first on the agenda for a recent global conference hosted in Jersey. I was fortunate to give the presentation on this topic and it looks like it might lead to some really exciting new opportunities for our employees and some useful guidance for local employers. But first the background the TeleForum is dedicated to the issues facing telecoms firms in small jurisdictions which means more than 70 attendees from places such as Cyprus Greenland Gibraltar the Faroe Islands Liechtenstein and Iceland amongst many others arrived in Jersey recently for this year s conference. It is hosted in a member company s home jurisdiction every year but hasn t been to Jersey since 2007 so this was a chance for us to show what JT has achieved in terms of fibre-optic broadband and 4G but also showcase our thinking on issues such as recruitment with a potential workforce measured only in the thousands and significant competition for the top people from other industries how do you recruit and retain the people who will make your company exceptional The title of my presentation was Hiring locally Acting Globally partly in reference to the fact that in recent years JT has grown considerably with 2014 marking the year when the balance in our revenues shifted to the majority now coming from outside of our home base in the Channel Islands. We now have offices in London Chicago Boston and Melbourne meaning that secondments (bringing with them the experience of foreign travel and living in different country) are now very much a possibility for our staff. But in common with most other TeleForum members the onus is on JT recruiting locally if at all possible so the challenge of being expected to look local first but also doing business on a global stage is one which was very familiar. Recruiting locally is often a legal requirement but there are also political and social benefits of doings so notwithstanding the fact that local people can often be more passionate about their home telco. They are also likely to more readily understand the the nuances of a jurisdiction such as how the government works and what motivates the community which will be of great benefit in the efficiency of their work. Conversely in some cases if an employee hasn t ever experienced life outside of a particular state then there is the tendency towards a narrower view which can be onedimensional. With a smaller choice of candidates then there might also be the need to invest more in training in order to make sure that all employees have the required skills. The purpose of the presentation was to share some of the best practice in terms of getting the best local 46 JULY 2015 jsy CONNECT FEATURE RECRUITMENT Building a global mindset people and being able to give them a wider perspective but also to invite members to participate in that thought progress and encourage them to think globally. In terms of best practice for overseas recruitment I suggested to the TeleForum members that firstly they need to make sure they have thoroughly searched their existing workforce first for the right person before they consider bringing new employees in from other jurisdictions. Secondly they need to think carefully about knowledge transfer so using JT as an example if we need to bring someone in from the UK then we buddy them up with a JT person so that if they later move on there is someone else with their knowledge and skills embedded within the organisation. Thirdly I advised them to be very careful over remuneration there is a delicate balancing act over what you pay people who come in from other countries and there is usually a slight disconnect with the levels they may be used to elsewhere. But the bigger you make that gap the more disharmony you get and sometimes you need the courage to walk away. Finally very often when hiring from abroad you are not just hiring the person you are offering the job to you are also hiring their family. I think that can be the most common reason why recruiting from outside the jurisdiction fails. It s not that the new recruit doesn t enjoy their new job it s that their family haven t settled. Now one of the main benefits of bringing people in from overseas is to help foster a global mindset throughout the organisation which is essential when your customer base is also global. But there are also other ways of achieving that such as through sending employees abroad to gain their professional qualifications even if is simply studying in London for one day a month. In addition we encourage our employees to get involved with international groups and committees of which there are many in most industries. By joining a global committee or simply doing your qualifications abroad your employees will be able to broaden their perspectives understand how other organisations work and build useful networks of new contacts. JT s strategy is increasingly around being able to compete on a global scale and to do that we develop employees who have that global mindset initially by building it from within. For that reason I m delighted to say that one of the initiatives which has come out of this year s conference is potential secondments between the TeleForum members from a few days in duration up to a few months. Our hope is there will start to be an interchange of talented people perhaps in the early stages of their careers who will get the chance to move around the member states to experience life in the different jurisdictions. I m confident that will be a great way not only to share skills but also to help our employees to broaden their horizons and develop the mindset of global competition. 47 jsy CONNECT JULY 2015 FEATURE Cutting Through Complexity The annual KPMG Islands Group (KIG) Conference was hosted in Jersey for the first time in its history . The 85 strong delegation came to the Island to debate crossjurisdictional issues including tax systems transparency digital and the future for global markets . A key speaker at the event was Alwin Magimay Head of KPMG Digital & Innovation What investment and development are you seeing in the London technology sector Just go down to Shoreditch on a Thursday or Friday night and you can feel the excitement amongst the start-ups and investors and you can see the collaboration happening. Something like 12 000 digital businesses were started in London last year and some of them are very innovative. We work with one company in the social media space called Alva that looks at social media data to assess a company s reputation. We work with another company called TheySay that uses computational linguistics to understand whether a social media post is positive or negative. British people are the only people in the world who can write a whole string of positive words and still imply negative TheySay have solved that problem because their technology deals with British humour Where should Jersey be focusing I believe we have a future role in looking at financial services that have been disrupted by data and how to re-imagine them. Secondly I think we could become a very valid test bed for innovation in areas such as e-health education and public services. They offer a pretty good place to test some new ideas. Additionally two new job roles have been created in the last few years that didn t exist before - the data scientist and the bi-lingual (someone who understands data and business). Being able to train and up-skill a whole new cadre of these people into these new jobs is going to be absolutely critical to stay relevant. How should businesses prepare for digital natives The term digital native was coined by a researcher in the US. It refers to people who were born after 1985. They ve been brought up in a world that has been digital since day one whereas 48 JULY 2015 jsy CONNECT FEATURE DIGITAL INNOVATION people prior to that known as digital immigrants grew up in an analogue world. I use the term settlers for the digital immigrants who have learnt to adapt. It s a simplistic concept but it allows you to think about the impact on businesses. The value and belief system is vastly different between these groups e.g. a digital native prefers visual over text (instant gratification). The challenge for companies is to work out how to continue to attract retain and motivate this whole new workforce. predict patterns or prove or disprove hypothesis will be done this way moving forward. The question then is what happens to the human And the answer is that the human either morphs into a value-added role or a completely different skill set. The ability to adapt and morph is going to be a key success criterion if you can t then life s going to get pretty tough. Are fibre and 4G going to be an advantage I think so. Ultimately I have two beliefs connectivity is going to become infinite and Jersey s way ahead with their investment there and data storage is going to cost nothing. What can we learn from other digital sectors In order to create success in an uncertain world you need several things. Firstly you need a direction of travel with focus and momentum. Secondly you need to be able to underpin those decisions with data and prove or disprove the decisions. Thirdly you need to create an eco-system of like-minded companies. Finally you need to not lose your nerve after one or two years. I ve seen a lot of good initiatives lose their nerve and if they d just given it a bit more time they would have been successful. How is KPMG involved in the digital sector We ve decided we re going to create the best eco-system for start-ups as we believe that is where a lot of the talent and innovation is - we will enable them to become successful and expose them to our clients. We call it the Digital Innovation Network. A lot of what people do in business is re-engineered but I think the true power of digital is allowing us to totally re-imagine. It s about thinking without constraints and we call it Zero Based Design. Those who re-imagine right will create a lot of value and those who don t will just get value taken away from them. 49 What is happening in the sphere of artificial intelligence versus human intervention The ability for computers to deal with unstructured data has got phenomenally better. We developed a prototype for an insurance company that managed to do what a human could do in 12 days in 15 minutes. The accuracy was 85% but that was in only 15 minutes I think anything that can be codified using big data to either jsy CONNECT JULY 2015 By Steve Carr associate director Hawksford If we are to believe recent reports the establishment of trusts is in decline. Admittedly for UK residents in particular changes to tax laws have made it less attractive to create a trust and it is quite rare these days for a trust to be set up purely with a tax motive as the main driver. an article published by the Financial Times in January figures published by HMRC showed that the number of trusts required to declare their income declined by almost one fifth between 2008 09 and 2012 13 with the tax paid by trusts falling below 1billion. This begs the question are trusts an outdated tool for meeting clients needs Prior to 1991 tax rules for overseas trusts were relaxed making it very attractive to use trusts as part of clients planning arrangements. In just two decades the increasing introduction of legislation around the use of trusts has resulted in most UK resident individuals being subject to income capital gains and inheritance taxes on monies held in offshore trust structures. Major tax changes rolled out in 2006 and 2008 have arguably had the most profound impact in recent years. Evolution in the use of trusts and the challenges created by tighter legislation combined with issues such as FATCA have not only forced advisors to consider alternative structures but also encouraged wealthy individuals and families to structure their wealth differently. This provides some explanation behind the fall in the number of trusts created in recent years The publicity surrounding trusts use as part of tax avoidance structures particularly in favourable offshore jurisdictions have gone a long way to dissuade wealthy individuals from putting such structures in place. Although tax is no longer a driving factor trusts continue to be a great tool for protecting family wealth. They enable comprehensive succession planning greater privacy and 50 JULY 2015 jsy CONNECT Trusts Where have all the trusts gone anonymity and greater efficiencies in the administration of multiple assets. For this reason many of the world s wealthiest people will turn to trusts as investment vehicles for a variety of asset classes such as businesses property fine art and yachts. As the world becomes smaller and families become much more internationalised are trusts (in the traditional sense) really at threat Or is it more likely that in order to manage wealth on an international scale different types of structures are required by high net worth individuals. This is very much illustrated by the increase in the awareness and formation of family offices foundations and private trust companies In all likelihood trusts will form part of both a Family Office structure and Private Trust Company structure. In an ever more challenging world clients attitudes towards wealth structuring and a growing wish to be more involved and retain exercise control over their structures are key factors for consideration. We must also consider the simple fact that trusts were more fashionable one or two generations ago. The new generation of HNWIs and wealthy investors are perhaps more open and adaptable to alternative structures which offer increased flexibility. Advisors and trustees have had to adapt their service offering to enable them to thrive on an international platform. This has led to many trust companies growing internationally through acquisition or expansion. In itself this will not immediately result in a firm being equipped to genuinely provide wealth management structuring for international families but will offer an advantage over a number of competitors. With an emphasis on ensuring that all advisors keep abreast of the changing landscape and with the world a more accessible place there are many areas in which businesses can ensure that they continue to adapt to meet the evolution of wealth structuring. This includes working closely with colleagues and intermediaries in other jurisdictions and focusing on developing the international expertise and experience of staff. The impact of technological advancements cannot be ignored as this has made working across a number of jurisdictions almost effortless. It has enabled many jurisdictions some which historically might have been viewed as having weaker trust laws to demonstrate that they too can offer the same structures with in some instances alterations made to suit the need of a very different type of client. So whilst we accept that trusts are no longer created with the same frequency or volume as they once were it is not right to assume this is purely down to a decline in wealth structuring. Whilst trusts may not provide the same benefits they once did now there are many more options available to international families which has broadened the scope of wealth structuring. 51 jsy CONNECT JULY 2015 FEATURE Quilter Cheviot associate director Jenna McCabe assesses options for those wishing to invest in bricks and mortar . Many in the domestic investment community either lament or celebrate the average investor s obsession with property. It s both telling and unfortunate that views of property frequently depend on what an individual is promoting and that so many debates polarise into an overly-simplistic property versus equities argument. That debate is largely irrelevant because most sensible investors appreciate the need to diversify a portfolio and with this in mind it s worth exploring some of the stock exchange quoted property options. Many investors and their advisers have both the business knowledge and the expertise to invest in property in their own name. This piece is not written for them it is exclusively for the investor who wishes to invest in a Property Fund Real Estate Investment Trust (REIT) or other property-based collective investment scheme. For international diversification property has a high correlation to GDP so is cyclical with the performance of property prices having a high correlation to economic conditions. Investors need to be careful on legal structures such as lease terms and these can differ greatly from country to country. Liquidity in the underlying property market is also crucial as the ability to buy and sell properties in all market conditions directly impacts on the Net Asset Value (NAV) of the property fund. By way of example London is a deep liquid market with good lease structures and rights of title and these are some of the factors that make it such a magnet for international capital. When investing you first need to ascertain whether the fund is an open-ended or a closed-ended fund. Open-ended funds can receive a high level of additional funds when markets are buoyant and a high level of withdrawals when markets are weak. As the property market is relatively illiquid these funds can be 52 JULY 2015 jsy CONNECT FEATURE PROPERTY Is property still a good investment gated shut when the property market is weak and this usually occurs when property sales cannot achieve fair value. With closed-ended funds such as REITs and investment trusts weak markets can cause the fund to trade at a large discount to the Net Asset Value (NAV) so if you need to raise funds in a poor market you may end up selling at a discount to the low valuation. Similarly in a strong market they can trade at a large premium to NAV so while the ability to purchase and sell your holding is attractive it can make it difficult to accurately trade the property cycle. As we are all aware the bull market in bonds is generating additional interest in income-generating assets and property clearly falls into this category. The asset class is being driven by lack of yield from the other asset classes and this is making life difficult for yield-hungry investors such as life funds (annuities) and pension funds. It is also worth noting that as interest rates normalise bond holders will face capital decline and whilst a sudden or sharp increase in interest rates would hit property prices capital values are underpinned by the beginnings of the next rental cycle which is currently coming through. Within Europe (including the UK) London has been leading the way and continues to do so. In the UK outside London the regions have not done anything like as well as economic recovery lags London. It is a similar story with other economies. European property stocks have had a strong start to the year in anticipation of Quantitative Easing (QE) driving up asset prices as investors seek yield. Property yields have fallen with the investment markets moving ahead of residential markets but this won t matter too much as long as the rental cycle picks up. However there is little sign of this in Europe just yet where many rents are indexed to inflation making the current low inflation environment unhelpful. On the plus side pretty much wherever you look there is very little new stock being built and therefore the demand supply balance is weighted in favour of the landlord - a state of affairs that suits landlords well as it provides the necessary pricing tension to push rents up. So where to from here Future capital appreciation from the UK property companies will be reliant upon the continuing strength of London. In Europe the obvious question is whether QE will free up spending and help to lift GDP. On a long-term basis we favour the capital cities based upon the fact they are the engines of growth for most developed economies and continue to offer some immunity to the economic headwinds that may be impacting on property asset values in regions and provinces. So it is in fact a case of remembering that oft-quoted property clich only three factors count when assessing property - location location and of course location. 53 Investors should remember that the value of investments and the income from them can go down as well as up. jsy CONNECT JULY 2015 FEATURE The Beautiful Game... A Muratti win that defied the odds reminded Islanders that besides all the successes of the rugby cricket and netball teams in the Island our football team isn t in too bad a shape either . But they haven t taken the step that the others have taken in terms of entering UK leagues or developing themselves in international competition . Luckily for Jersey we ve got Phil Austin at the helm of the Jersey Football Association just the kind of cultured-but-solid midfielder you need to put his foot on the ball look up and tell Connect how it is... What does the Jersey Football Association do We are the governing body of local football and we are responsible for the strategic development of the game in Jersey. That includes things like discipline and governance. The Jersey Football Combination is responsible for the league it s similar to the split between the FA and the Premier League in the UK. We re an incorporated body with a board of directors and to bridge the gap with the Jersey Football Combination we have a hybrid council that consists of members of both. What are the priorities for the future Football in Jersey has three segments and they are all equally important. We have got development they run the Centre of Excellence which is a programme for selected young players from 12-18 for boys and 14-18 for girls and those players get additional coaching. Then there are 17 clubs which are all run independently and are responsible for their own overall governance. And then there s the representative sides when Jersey play another team at whatever age level. They are all equally important and we have got to get a thread that goes right from the youngest player at 54 the Centre of Excellence right through to the oldest players in the clubs and representative sides. What s going on at the JFA at the moment Brian Little [a former Aston Villa manager who received one England cap in 1975] is our Director of Football and he is leading a project for us at the moment with the Centre of Excellence together with Jimmy Reilly [manager of the men s senior representative side] and Simon Petulla [manager of the women s senior representative side]. We have just finalised a four-year business plan and got some funding from the FA. Is there a future for a Jersey Rugby Football Club-type model here following what Guernsey have done The JRFC has done a fantastic job but the structure of rugby is completely different. They are the pinnacle of rugby here but they do both have a big structure below that in terms of other teams. We have got 17 clubs but we do not have that top piece of the cake which is a Jersey side playing regularly in competitive highprofile competition. But we ve got a significant infrastructure there are around 185 teams playing regularly. Guernsey have gone down that route. They have a new club and they entered that into UK competition four years ago. I wish them every success. But if you talk to people out there they are saying it is gradually causing a decline in the standard of club football because the best players have come out of the seven clubs. There are no plans afoot to go down the JRFC route. Could we be playing more football against international sides in a league system in the same way that the cricket side has had a lot of success There is a tiered structure in international cricket so they have played teams such as Denmark France and Guernsey in T20 competition. That tiered structure does not exist in football and there is no current debate about that at an official or formal level. That is the route that we would like to go down and we are exploring options at the moment about how we can access the international route. As things stand every time that we have a team that comes over here to play we supplement travel costs so each game here costs between 2 000 and 2 500 in flight and hotel costs. JULY 2015 jsy CONNECT Sporty Beans Inspired by the Island Games 2015 Aurum s latest additions to the Jersey Bean Collection are designed and handmade in-house in sterling silver. Also available Volleyball Tennis Golf Archery and Football Beans. Prices from 180 Tel. 44 (0) 1534 736182 sales 2 Charing Cross St Helier Jersey JE2 3RP Follow us on Facebook Aurum Jewellers. All rights reserved GLASS HALF FULL Discrimination Law GLASS HALF FULL WITH Vic Tanner Davy training courses that seeks to share the knowledge they have gained with other businesses in the context of the island s discrimination laws. In speaking to clients States departments and charities Law At Work has had an overwhelmingly positive response to their courses from people and not just because an organisation wishes to protect itself from appearing at the Tribunal. There is a real appetite to understand more about these issues so that the business can better serve trans customers or look after trans employees. And that is why I am so proud of Jersey at the moment. The trans community is a tiny proportion of the population. We could be dismissed as unimportant but everywhere I go to train or speak to people about trans issues I find a genuine interest and a warm welcome. How a society treats its minorities is seen internationally as a measure of how civilised that society is. When I speak to other trans people around the world they are amazed that a small island has made such significant progress. This can only improve Jersey s standing on the world stage. The phrase pushing against an open door is somewhat worn but it has been said numerous time to me over the last year and I honestly believe it is the case. Jersey minds are open to diversity and equality like never before and that can only be a good thing not just for trans people but for the whole island. I am so proud of Jersey at the moment and most people don t know why. On 2nd June the States of Jersey passed a world-class piece of legislation that has largely gone unremarked. We passed the second part of our discrimination law that extends protection to various groups including members of the LGBTQ community. Nothing special so far. In fact some of the provisions in this new legislation were long overdue - by about 40 years However within the new regulations are two small clauses that groups in the UK and across the world are fighting to have included in their equality laws. The first clause recognises that there are more than two sexes and gives protection to intersex people under the protected characteristic of sex. In a nutshell intersex people are born neither male nor female either through a chromosomal condition that means they have an extra or a blank chromosome instead of simply XX or XY or a hormonal condition that results in a foetus developing with a combination of both male and female sexual characteristics. The second clause of the new regulations that is remarkable is contained within the section covering the protected characteristic of gender 56 reassignment. Jersey has expanded on the UK Equality Act s protection of transgender people so that it is not a requirement for someone who is transgender to have had any medical intervention to help them transition. This is why Jersey has produced a world-class piece of legistlation that has the potential to make a difference to the lives of intersex and trans islanders. I use the word potential advisedly. Laws such as this on their own don t change lives. What they do is enable conversations to take place that raise awareness of what it means to be transgender or intersex. It is only through education that attitudes change and then lives change. My employers Law At Work realise the importance of helping businesses and organisations on the island understand what it really means to be trans or intersex how that affects an employee who is trans or intersex what problems having a trans or intersex employee might raise in the workplace and how best to deal with those issues. They realise this because they employ me a trans man and they have been on a journey with me a journey that has increased their understanding of the realities of trans lives as opposed to the myths that abound about us. As a result they have developed a suite of JULY 2015 jsy CONNECT Tune in to Jersey s online radio station ...And best of all NO ADS Listen to six non-stop music stations at radio This is where music lovers in Jersey can listen to the best of the 60 s 70 s 80 s 90 s 00 s and very latest chart music. To listen via your mobile download the tunein App JERSEY NEWS & CLASSIFIEDS BUSINESS ADVISER Business Adviser GET IN TOUCH... If you ve got a business question you would like to put to John please email editor The UK tax man cometh L ooking at the demographics of the island the number of Jersey born individuals is no longer in the majority in the local population and this trend looks like continuing. Most people think of the Comptroller of Taxes as being the only taxman that they need to worry about but this is not true for many islanders. There are many areas where overseas tax authorities will want some of your wealth. Some are obvious for example if you trade in the UK or have rental property - but others are more difficult to detect. Just because one no longer resides in the UK or in many cases has never resided in the UK does not mean that you are not exposed to UK taxation. The Law in the UK has recently changed in that if you own residential property in the UK then you will be liable to UK capital gains tax. You were always liable to UK income tax on the rent (if any). These changes kicked in on 6 April 2015 and apply to any increase in value since that date. You should get your UK property valued so that you can accurately determine any growth in value from April 2015. In addition if you hold UK residential property in your personal name then this will be a chargeable asset for UK inheritance tax purposes and therefore upon your death UK tax may be due. In simple terms UK inheritance tax is due 58 at 40% (after allowances) on any UK situate assets. For example if you have a UK house a few UK shares and maybe a loan to a UK resident (for example a family member) you could be looking at a sizable UK tax charge on your death. If you are a permanent Jersey resident then with a little careful organization these issues can be substantially mitigated. However simply introducing a Jersey company to change the ownership can create additional tax problems in Jersey and the UK so extreme care is taken. So for just under 50% of the you have your permanent home. It is not the same as nationality citizenship or residence. Every individual has a domicile which they originally acquire at birth it is not necessarily the country that you were born in or are currently living in. It is only possible to have one country of domicile at any given time. You can be domiciled in a different country from where you are resident or ordinarily resident. Normally you acquire a domicile of origin at birth this is usually the same as the domicile of your father at that time that is the country that your father considered to be his real or permanent home at the date of your birth. As a result your domicile may not be the country where you were born. From the age of 16 an individual may be able to acquire a new domicile. This is called a domicile of choice. To prove this change you will have to prove that you have chosen to live in the new country on a permanent basis and provide strong evidence of your intention to stay there permanently or indefinitely. Why does this matter if you live in Jersey Simple if you remain UK domiciled at your death then you could be liable to UK inheritance on your worldwide assets (yes including the Jersey house) at 40%. Tax is far reaching do not fall into the trap of thinking that being in one country limits your tax liability to that country it does not. You have been warned. 7 o Columnist JOHN SHENTON Grant Thornton Business population most will not have any issues and for those that do simple but careful planning can be put in place. However what about the non-Jersey born With over 30% of the population being born in the UK do they have the same issues Actually their problems are usually much worse and more care is needed. In these cases one would normally have to determine the persons domicile to establish their liability to UK tax. Domicile is a general legal concept it describes the country that you consider to be your home or the country where JULY 2015 jsy CONNECT We advertised for new staff on Bailiwick Express and were really delighted with the number of excellent CV s we received in fact we got so many we had to close the campaign early. Express was really effective and delivered excellent value for money. Alistair J. Rothwell Bracken Rothwell Reach 1 000s of Jersey jobseekers for just 25 per week Getting the right employees is key to all businesses and our jobs website and email is just what they are looking for. If you need to recruit simply go to jsy jobs create and post your jobs online TODAY JERSEY NEWS & CLASSIFIEDS RupertLangly-Smith o Photography By Gary Grimshaw Location supplied by the Cycle Centre Jersey International Visibility UNPLUGGED Y Unplugged In each edition of Connect we enable someone in the news to speak directly to you in their own words... Unplugged. What you are about to read is a transcript beyond minor changes to punctuation and syntax to aid clarity these words come directly from the person who uttered them. S o you are a young entrepreneur what sector do you aim to make your millions in Finance is the obvious choice but with the trend moving strongly towards consolidation around the big companies is it as easy as it used to be to start your own firm perhaps in the Trust sector Ok so how about the next big thing pedalling furiously to make it s own appearance in the pantheon of Jersey s economic success stories digital. Yes definitely some opportunities here but also plenty of other people trying to exploit them. Rupert Langly-Smith solved the problem by getting on his bike. His journey took him to this year s Awards for Enterprise where he was named Entrepreneur of the Year with the company also taking the Award for International Sales. b We re basically innovators in the high vis sports wear accessories market . We started out just in cycling that s going back about seven years ago when our first idea was in cycling as a result of our own experience in London and it s sort of grown from there . Our first order was in March 2010 and it s developed from cycling to running and we also do some horse riding motorcycling and kids products as well now . It s basically grown from demand . If you go out on the roads at night chances are you will have seen some of his high visibility products in action along with his brother Anthony he is the co-founder of Proviz he explained to James Filleul where the idea came from RLS We re basically innovators in the high vis sports wear accessories market. We started out just in cycling that s going back about seven years ago when our first idea was in cycling as a result of our own experience in London and it s sort of grown from there. Our first order was in March 2010 and it s developed from cycling to running and we also do some horse riding motorcycling and kids products as well now. It s basically grown from demand. People have seen that we operate in the niche market and we only specialise in that high visibility area whereas other businesses other brands will basically do some high vis gear but they ll do a lot of other clothing and bags and all kinds of products so we re just focusing purely on the high vis side of things which is where we re jsy CONNECT JULY 2015 61 Got a story to tell Get in touch email us at editor becoming known as the specialist in particular in the cycling market. JF Was that a conscious decision to specialise RLS Yes very much so. When I was cycling in London six or seven years ago I used to use the gear to help me be seen at night and it s sort of gone from there. We thought the products that we were using weren t actually very good so we thought if we can build a brand that has such good products that everyone wanted them then why try and be Jack of all trades master of none so we re just totally focusing on the high vis area which is just growing and growing as cycling running outdoor sports in general are growing around the world. JF And what is the USP of the business RLS We use specific material for the clothing but we also use something called electro luminescent lighting that is a paper-thin light source. It s not LED it s basically died phosphorous ink injected into plastic. You can you drive it from a battery pack and then you ve got an incredible light at night. Then you ve got our actual clothing and bags etc. made out of the reflective material that we use and we re constantly trying to upgrade because we know someone will probably come along and try and copy us but actually each year we try and push it a bit further and make changes as we go and the reflective 360 range has done so incredibly well and 62 JULY 2015 jsy CONNECT actually probably put us on the map to be honest especially in the UK. Our UK wholesaler had 434 accounts purchasing through them and that s just the UK and we ve got 60 distributors in 46 countries now so it s growing at an incredible rate and it s this reflective 360 range that has unlocked all those doors basically because it s unique. Its right in the middle of what we call the middle market the commuter zone market where people go and spend 70 or 80 on a jacket. Some are willing to spend a lot more some not so much so we have products that are catering for mainly that middle market where cycling particularly is absolutely booming. JF Where did the product knowledge come from RLS I just sort of learnt it to be honest. Learnt it over the seven years or so since we started Proviz. At the start myself or my brother didn t know anything to do with building a brand products we just had an idea that we thought was a good idea and we just thought let s give it a go and we just learnt. We ve made some mistakes. We ve learnt from them. We didn t know about various regulations early on. We make errors with manufacturers. You choose the wrong one. You think they re going to give you good products. They promise it everything and then they re wrong. You know we ve learnt the hard way but that s also helped us to learn a huge amount. And as our knowledge has grown so have UNPLUGGED b our product ranges and which materials we can use for our next product range for next year s product range for the year after so it s been a very steep learning curve basically. JF How is the business structured RLS We have I would say about 60-70% is wholesale and that s where it has grown so much in the last 12 months in particular. So we have the wholesale business the products will go from our manufacturers in China directly to the wholesaler distributor wherever they are in the world and then there s our online business online stock is sent from China to our warehouse and then any order we receive online goes out from our warehouse directly. JF What s Jersey s role in the structure RLS So Jersey is where the business is based where I m from. It s where my brother is from. We were both born here and it s where I run very much the product development the logistics of the business is all run out of Jersey so what we want to do as we grow and as we take people on is build the hub of Proviz. Hopefully the big international brand in years to come will be in Jersey. JF Were you aiming to build an export business RLS It s just how its developed. We re learnt from other brands. We got our first distributors in the UK based in Derby. We ve gone from one distributor to the next and just taken it one step at a time and I just sort of learnt it to be honest . Learnt it over the seven years or so since we started Proviz . At the start myself or my brother didn t know anything to do with building a brand products we just had an idea that we thought was a good idea and we just thought let s give it a go and we just learnt . in regards to Jersey it s just a good fit to be honest. It s good from a business perspective to be here but then I wanted to move back here as well. JF Did you need local support to build the business RLS Well we didn t really need support because at the time we moved it back here we were already on the road and we were growing. However we ve used Jersey Business and they have actually been a very big help in what they do. They provide a lot of support and are just actually a good sounding board to be honest to go to if there s something you re not quite sure about you can just go and have a chat with them and they re a free service. From a financing perspective it s been slightly more challenging because obviously over the last five years or so the whole global economy hasn t been in great shape. That s probably been the most jsy CONNECT JULY 2015 63 UNPLUGGED challenging side of things as the business grows you obviously need some finance. You need to finance your own stock because basically this time of year we are manufacturing for September onwards so you re always looking ahead but you re not going to sell it potentially up to December so you ve got many months where you re basically out of pocket and you ve got to hope that the new range that you launch sells because otherwise you could be in trouble - and that s the hardest thing to juggle definitely. This year especially we re having to manufacture a huge amount of stock because last year was so incredible really so our forecasts are way bigger than they were last year - and we ve got to have the stock ready because once you re out of stock you ve got to wait three months to get it again so that s the biggest challenge. JF What advice would you give entrepreneurs in Jersey looking for overseas suppiers RLS If you came up with a product idea and you wanted to go to China to meet some manufacturers Jersey Business have a lot of good contacts and the other States Departments that work with Jersey Business have a lot of good contacts. We ve been to a few talks and a few meetings - I had one the other day with the British Business Council who were working in China and she was a China specialist and she gave some great advice. Then you ve got to go out and get your distributors it just takes time. The way we did it to be honest was look at other brands successful brands we d go on to their website and basically just go right they are distributed by that company in that country and then we d just put in the call. That s basically what you have to do. You just have to look online and research and it takes a long time. Some will order a lot quicker but some will take up to two years so it is a slog at times. JF Where does the business go next 64 JULY 2015 jsy CONNECT RLS We just want to continue to grow at hopefully the rate we re going. It might be quite hard given that last year was so huge for us. You know it was over 300% last year. To do that again this year might be a bit challenging but we certainly hope to double up on this year and its just continuing to grow both from a wholesale perspective and also ideally on the online side because the online side is obviously where the much bigger margins are. JF What advice would you give to someone trying to replicate your success RLS I would say you ve got to do market research. That s the number one thing. I ve actually thought many many times oh that would be really good and you just go and have a look online and more often than not someone s already done it. That doesn t mean you can t do it because you might be able to do it better. Is there a market for your product You might think you ve got an amazing idea but will people actually buy it and at what price are you going to sell it to them If it s way too expensive they re going to think twice about it but if it s an amazing product like the next ipad then they might go for it. You ve got to get reliable manufacturers. I ll openly say that we ve made mistakes with previous manufacturers when we were trying to keep it cheap or cut corners or cut lead times. That s going back to the beginning and we made mistakes and products arrived wrong and they re expensive to put right and we made those mistakes and we haven t done them since and hopefully it doesn t happen again. We ve learnt our lessons from that one from that point of view. You ve just got to do your research. Is there a market Is the product worthwhile And are people going to buy it END Unplugged VIEWPOINT E Viewpoint Here s why I believe there is no better alternative to alternative investments... Viewpoint puts forward a key question facing one of the Island s main industry sectors and then a group of leading practitioners give their take on the answer and what it means for Jersey . If you would like to be included in a future panel of experts just email editor bailiwickexpress .com T Nigel Cuming Chief Investment Officer Canaccord Genuity Wealth Management aking financial market risk is easy. It is reducing and controlling risk which is always more challenging. (inflation aggressive rate rises) will also undermine bonds. What constitutes an alternative investment is the subject of debate but a definition which is as acceptable as any describes alternatives as any asset which is not one of the three traditional types equities bonds and cash. Alternative funds which can take advantage of falling as well as rising asset prices are one avenue open to investors. Also certain closed-ended infrastructure funds yield around 5% and have demonstrated low correlation to traditional assets recently. Gold is often a store of value while physical property is less susceptible to the vagaries of investor sentiment. Alternative investments may therefore combine a more attractive return profile than cash with the possibility of greater capital protection than government bonds. In the past investors would look no further than cash or government bonds as safe-haven assets. While cash remains an option its return will be minimal as policymakers have made it abundantly clear that rate rises will be slow and gradual and the ultimate peak in rates will be far lower than previous cycles. Meanwhile government bonds may not act to counterbalance risk. Since 2000 there have been 22 instances when the UK equity market has experienced a quarterly decline and UK government bonds have delivered a positive performance in 18 of those periods. However there is an argument to be made that the next catalyst which spurs a rout in equity markets 66 JULY 2015 jsy CONNECT VIEWPOINT F irstly what are alternatives Generally they re seen to be hedge funds structured products 211% nominal growth since 2003 with stamps and coins outperforming every asset class in the index aside from classic cars. The Knight Frank Wealth Report also shows strong growth for classic cars whilst rare stamps and coins show the lowest volatility (and are easier and cheaper to store and insure ) With an ever-increasing global middleclass who want to buy back their heritage coupled with a growing collector base in strong emerging markets collectible assets represent a compelling investment opportunity. Tangible heritage assets which can be enjoyed as well as provide a potentially good return are increasingly being used to spread risk. They re not for everyone but I believe that if you have the right long-term aims they can fit in very well to a diversified portfolio. private equity commodities and real assets but it s the latter section that I believe to be the best alternative. Within real assets you find art and antiques fine wines rare stamps and coins cars assets uncorrelated to financial markets essential to anyone wanting to protect their wealth as well as grow it with a balanced portfolio. These non-financial tangible assets sometimes called Investments of passion have performed strongly over the last 10 years. An investor that had diversified across the Economist Valuables Index would have achieved Keith Heddle Managing Director Stanley Gibbons Investments A Claire Keeney associate director Hawksford lternative assets like real estate will always be in demand however at Hawksford we are seeing management in alternative areas will increase from US 63.9 trillion in 2012 to approximately US 101.7 trillion by 2020 equating to almost 6% annual growth. I anticipate increased investment from America and the Middle East capitalising on distressed alternative European asset classes still suffering a 2008 financial crisis hangover. Jersey is well placed to offer American fund managers bolstered by their growing economy a domicile of choice to comply with AIFMD and increasing risk management and regulatory requirements. The next big social media app could reap vast returns for IP Funds as could Heathrow airport extension for real estate property structures not to mention London 2018 depending on what FIFA does next The time is perfect for alternatives to show their true value and potential which is why I believe alternatives are the best option. substantial diversification from traditional offerings into alternative assets classes private equity intellectual property (IP) debt restructuring and infrastructure. Whilst alternative managers like hedge fund and private equity funds have been lambasted for their high fees underperformance and extensive investor lock-in periods such negative press belies the true picture of underlying asset worth. According to Jersey Finance for 2014 Q4 the NAV of funds administered in Jersey grew by 19% since 2013 yearend to 228.9 billion its highest figure since 2008 year-end. Alternative investment classes accounted for 72% of such growth. Additionally PwC predicts that global assets under jsy CONNECT JULY 2015 67 WHO S THE FOOL Who s The Fool o Illustration By Mark Jackson A 68 few days away from the office recently afforded your honest broker the chance to read on the 50th anniversary of his death one of the recent biographies of the man regularly voted as the greatest ever Briton Winston Churchill. Here we have a man who following a military career which saw him serve in Cuba India Egypt Sudan (during which he took part in the last major cavalry charge by the British Army) and South Africa (where he escaped from a prisoner of war camp) was elected to the House JULY 2015 jsy CONNECT WHO S THE FOOL of Commons in 1900. Other than a break to return to the regular army and action on the Western Front in 1915 during which he remained a member of parliament (present-day politicians take note consider your own efforts alongside this benchmark before describing your job as hard work ). His political career lasted 64 years until he resigned his position as an MP three months before his death in 1964 a few weeks short of his 90th birthday. During that career he served as Under-Secretary of State for the Colonies President of the Board of Trade Home Secretary and first Lord of the Admiralty (all before his 40th birthday) Minister of Munitions Secretary of State for War Air Minister Secretary of State for the Colonies Chancellor of the Exchequer Defence Minister and Prime Minister. Twice. He is credited with playing a significant role in the introduction of the welfare state and had a large hand in inventing and financing the production of the first tank. He also found the time to write 43 books spread over 72 volumes. As CVs go the man was busy. And yet during this illustrious career he was vilified detested lambasted mocked and switched political parties more than once. He made disastrous military decisions which cost tens of thousands of lives had the Army turn their weapons on civilian activists promoted the use of poisonous gas as a weapon was accused of racism sexism anti-Semitism and admitted taking cash to represent the interests of oil companies in parliament. He also drank too much smoked too much ate too much and his father a scion of British politics who he admired and strived to emulate probably died of syphilis. Churchill also retained the humility to concede that the crowds that gathered to hear him speak would be twice as big if they were gathering to see him hanged. If you look up the word dichotomy in the dictionary and there isn t a picture of Churchill you need to change dictionaries. If you are or aspire to be a politician and you haven t yet taken the opportunity to read about the life of the man I strongly recommend you do so. Which in a roundabout way brings us to the subject of this month s sermon what should we think about this Jersey International Financial Centre nonsense If we deal solely in basic facts it would appear that we are struggling with a weak economy. Our major industry which largely stands on its own subsidy-free two feet isn t what it was but is bumping along trying to find new ways to earn a shilling. Industries which have been our bread and butter in the past (farming and tourism) have run up against a global market which can do things better and cheaper and our nascent technology businesses aren t yet able to gain sufficient traction to underwrite the Island s future prosperity. On this basis the most expedient solution to our woes appears to be for the Island to invest in the industry that is presently paying its way and where we have in-built competitive advantages and expertise. If the Island (via whatever quango signs the cheques and pays the dividends) can eventually turn a profit on its investment and it sends a signal to the outside world that we have a government who are willing to invest in its major industry what s not to like It s a sad fact unfortunately but the alternative uses for the money such as further subsidies for our farming or tourist industries or continued growth in the size of our public service just aren t likely to result in any major return on our investment in the foreseeable future. And without that return the majority of the participants in the recent protest against the buildings can kiss goodbye to future pension or benefits increases. If there are indeed any politicians amongst our readership they should recognise that history doesn t necessarily punish those who make tough and unpopular decisions. Amongst the many millions of words published during and after his lifetime the greatest Briton recognised certain inalienable truths chief amongst them being Fear is a reaction. Courage is a decision. WHO S THE FOOL Connect s insider in the finance industry sits at a desk somewhere near you. He s unspinnable unbiddable and very strictly anonymous. Don t expect marketing speak don t expect a rosy feeling inside and don t expect to like him (we re not entirely sure about him ourselves). Only expect this every month he ll bring you the unvarnished truth from the heart of the finance industry... DEFINITION The Fool A privileged position held at an ancient king or queen s court the fool was not taken seriously by the high and mighty but was the only person able to speak the truth to power. The Greater Fool Theory The belief held by one who makes a questionable investment with the assumption that they will be able to sell it later to a greater fool . jsy CONNECT JULY 2015 69 g About face 2 words No Ordinary Day Job Julien Morel A PHOTOGRAHY Robbie Dark NO ORDINARY DAY JOB I n some ways there couldn t be a better candidate for a feature called No Ordinary Day Job than the only person who performs a particular role in Jersey. If you asked a waiting room full of people to put their hands up if they were a locally-based oral and maxillofacial surgeon there is just one man who could truthfully give you a wave. Michael Belligoi is Jersey s top clinician when it comes to the mouth and face. Over the last two decades he has had a lasting impact on the lives of thousands of Islanders repairing damage caused by accident disease wear and tear or a birth defect both at the Hospital and in his own private practice. Julien Morel asked him to open wide .... The face is often called the organ of emotion it is how we interact it is how we express ourselves it is how we interpret other people s feelings. So when this essential channel of verbal and non-verbal communication is broken or damaged it can have profound and devastating consequences both for a person s ability to function and their self-esteem. Australian who moved to the Island 18 years ago. He is well known as the Island s oral surgeon the main consultant in this specialty at the Hospital but he also has a busy private practice in Savile Street just across the Parade. The emphasis between my work at the Hospital and my private work is slightly different in that there is probably more implant reconstructive work done outside of the Hospital but we do provide that service for patients who have had cancer surgery reconstruction after trauma or have a congenital deformity he said. A lot of my work at the Hospital is treating facial injuries and unfortunately the most common cause is assault which is usually related to alcohol. A lot of people arrive at A&E with facial soft tissue injuries and or facial bone fractures as I said mainly due to an assault - but motor vehicle accidents and sports injuries are also common. Work-related injuries are far less common as the standard of care in the workplace has improved vastly. Mr Belligoi passion for his craft burns as brightly now as it did when he set out on his career in Brisbane more than three decades ago. The joy of the job is combination of things. The whole process of treatment planning and carrying it out to a high standard is fascinating in itself but the aim of treatment at the end of the day is to improve outcomes for the patient and the satisfaction is the balance between those two. There is certainly artistry in performing the surgery but this is increasingly supported by technology to make it more precise and predictable. In his private practice Mr Bellegio treats patients who have been referred by a doctor or dentist as well as those who contact him directly. This might be for things like facial pain right through to diseases of infection related to teeth and impacted teeth (buried teeth that become infected) changes in the mouth where people are concerned that there maybe something more sinister occurring and problems associated with the function of people s face and jaws such as temporomandibular joint pain which is a functional problem with the muscles and jaw joints. One of the most common treatments that Mr Belligoi carries out is the fixing of dental implants which today is the preferred solution for teeth loss. Implants provide a foundation for the placement of replacement teeth which are then fixed to the jaw. Not only are implants permanent but the artificial teeth fixed to them look and feel like natural teeth they even have to be brushed. Implants have really changed the way people deal with the loss of teeth and the loss of jaw and facial support. In the past it wasn t uncommon for people to lose their teeth by middle age and they would have to wear artificial dentures. Since the 1970s however dentistry has become more sophisticated so people are retaining their teeth later in life which means that when it comes to managing jsy CONNECT JULY 2015 71 The joy of the job is combination of things . The whole process of treatment planning and carrying it out to a high standard is fascinating in itself but the aim of treatment at the end of the day is to improve outcomes for the patient and the satisfaction is the balance between those two . There is certainly artistry in performing the surgery but this is increasingly supported by technology to make it more precise and predictable . But a small number of highly skilled professionals can restore that functionality that sense of worth and quite literally someone s smile. Michael Belligoi is one of those people. His official title is oral and maxillofacial surgeon which is a rather complicated way of saying that he treats problems within the face mouth and jaws. Although Mr Belligoi is a qualified dentist he has moved away from that field to bridge the gap between dentistry and medicine. A dentist will look after your teeth but Mr Belligoi is concerned with the whole structure of the face which might involve him rebuilding it after an accident or disease repairing facial cuts removing impacted wisdom teeth or fixing dental implants to the jaw. His craft is not cosmetic surgery getting that perfect smile or wrinkle-free forehead but he instead treats facial deformity. Some of his work is at the cosmetic end of the scale to perhaps restore someone s dignity as well as their face but it also includes serious structural repair such as cleft lips and palates. Mr Belligoi is an affable calmly spoken 56-year-old NO ORDINARY DAY JOB The digitising of information has had a huge impact . I can now plan using digital images and use that precision to place implants or do reconstructions on a virtual platform before I begin to work on a patient . tooth loss people want a more sophisticated solution. A form of fixed appliance like implants is now regarded as the appropriate standard. The implant itself is made of titanium and looks a little bit like a screw but it has a surface which is prepared in a special way so that bone grows on to the surface. Another part fits on top which has a connector and it bolts together. You can then connect bits on either by cement or using screws that go all the way through. Implants fulfil a similar role as a tooth root but they are fixed to bone rather than ligaments so you don t need to replace as many as you would teeth. They can be linked together in different ways to hold one tooth or a series of teeth or even a complete arch of teeth. The safe fixing of implants which is performed under local anaesthetic has largely become a first-choice treatment due to advances in technology which have transformed oral surgery. The digitising of information has had a huge impact. I can now plan using digital images and use that precision to place implants or do reconstructions on a virtual platform before I begin to work on a patient. It means I can plan to a fraction of a millimetre. I have a cone-beam CT scanner in my rooms one of the top machines in the world - which gives three-dimensional imaging of the facial skeleton and in particular the jaws. That gives a degree of precision that is much higher than the old techniques of tracing on x-rays. It is very much an investment in technology to make outcomes far more predictable. Technology allows you to draw up a treatment plan which is a clear pathway for the patient from the start point to where they want to get to. And with that comes peace of mind. Because implant treatment is expensive - they are like a fine piece of jewellery which is bespoke to the patient - it is also very important to have a clear idea of what s involved a clear plan and clear knowledge of the costs. jsy CONNECT JULY 2015 73 NO ORDINARY DAY JOB There is a high level of health insurance on the Island due to our financial services industry . It is helpful to the Health department as private patients contribute to the cost of providing their care which the States of Jersey would have to provide otherwise . Despite the great strides in technology one key piece of equipment is refreshingly cheap and simple. When you need something that is precisely engineered and will show up on scans there is nothing much better than a Lego brick. Lego is radio opaque so it shows up when kids swallow pieces. They are also incredibly precisely made to an accuracy of two microns and have a very complicated internal form which means there are lots of things to line up. So it is basically an ideal engineering datum. If you had to get a reference block to that accuracy in titanium you d probably pay 2 000 but they are about 10p each. Mr Bellogoi began his career in Australia but after graduating from the University of Queensland in 1981 he followed a well-trodden path to the UK where he worked in general dental practice for four years. He then decided to specialise first in hospitals in Yorkshire and then London where he qualified as a registrar. Five years in Melbourne followed where he completed his training in oral and maxillofacial surgery before returning to the UK to expand into cancer management and facial trauma. It was then hospitals in Cambridge Scotland and 74 JULY 2015 jsy CONNECT NO ORDINARY DAY JOB Southampton before the job at the Hospital came up. The range of work we do in Jersey is unique because you will see almost all the things that occur in larger centres in the UK but just in small numbers and sporadically. The challenge when you re working in an island is that you actually have to provide a broad range of services but being a small community it does make follow-ups more manageable. There is also a high level of health insurance on the Island due to our financial services industry. It is helpful to the Health department as private patients contribute to the cost of providing their care which the States of Jersey would have to provide otherwise. Mr Belligoi divides his week between the Hospital and his practice which is managed by his wife Audrey. Often a dental or doctor s surgery can be a place of trepidation but Mr Belligoi prides himself not just on his calming manner but also his calming environment which is simply but stylishly designed. His clients are diverse but as the Island s average age is going up and up it is likely that more and more of us will benefit from Mr Belligoi s expertise. There is certainly an increased need for the management of elderly patients. A lot of problems that elderly patients have are coincident whether it be heart problems or respiratory problems or immune-related disorders. But they still require treatment as far as their teeth are concerned. There is a strong need for someone to bridge the area between medical practice and dental practice to provide care for elderly patients and that person is often an oral and maxillofacial surgeon. Older patients are still able to have restorative treatment with implants. There isn t an upper age limit per se because bone does heal throughout life. It might be a little bit slower with age and limb fractures tend to have more problems because the blood supply isn t so good. But in the round the jaws heal well and age shouldn t prevent having a sophisticated treatment plan. Mr Belligoi s day job is to bring both a physical and inner smile back to the faces of Islanders who are suffering pain or have perhaps been damaged by accident disease a defect or just through the wear and tear of age. By blending experience with technology he is restores the one part of our body that is the window to how we are feeling and thinking. END jsy CONNECT JULY 2015 75 Would you work with this business TWITTER FACEBOOK LINKEDIN Put a face to your business. We all know the importance of creating a good first impression. At Photoreportage we bring fresh photography to the world of advertising and PR. Working with many of the Channel Islands top corporate companies to produce high quality images that not only support their communication and creative teams but enhance the perception of their business. If you re looking to raise your profile... Contact Gary Grimshaw on info or call 01534 858 571 CO RPORATE C OMM ER C IAL WEDDING JOURNALISTIC I t s the product stupid. Before I get into this I must first admit to a huge vested interest in this brand Jersey Dairy. I spent three excellent years nurturing building and developing the brand with a great team of people. It was the kind of environment where any fresh thinking was welcome and rewarded. So it was with some regret that recently as I entered the top end of the chilled aisle of Grand March St Helier a small but apparently telescopic arm extended from my trolley and grabbed a tub of rival Classic Herd Yogurt. When I say grabbed I mean secured with the kind of grip that would impress the Grim Reaper himself. Nothing could make my daughter part with her booty. We were going to be buying Classic Herd products today. My shame and disappointment was a combination of latent competitive energy and a large portion of simple pomposity that our brand was so much better than theirs and therefore was always the one to choose. Even a two year old could be relied upon to make the right choice. So either she could not or the brand didn t have the wow factor of my marketing dreams. In a flash of memory I recalled the time spent researching the market in order to fashion a product range worthy of export shelves products that would go mano a mano with Muller and Onken Anchor and Lurpak in any UK supermarket. In my dreams our local competition would be tucked away on their farm turning out their products now and again wishing they could have our budgets and our sheer marketing brilliance. When they launched we purchased the range and begrudgingly admired the farmliness of their branding look slightly threatening in its simplicity. We agreed it was a good punt but without a doubt they had not spent the time and expertise we had in securing our points of differentiation. We would after all be pitching to the discerning dairy buyers of Sainsbury and Tesco Waitrose and Marks and Spencer. I know the immense power of branding. I saw the shiny blonde mother supplying her Sunny Delight to children seemingly fresh from the eugenics laboratory. A product that likely did not need refrigeration in the way fresh orange juice does clearly marked out as the key alternative to other Y Marketing Forces o Columnist CHRISTOPHER JOURNEAUX healthy chilled alternatives. Their launch sales were ridiculously high because their branding was a model of best practice. If an apocalypse leaves the earth populated only with marketers then their branding guru will be our messianic figure. It really was that good. Their fall from grace was also record-breaking thanks in large part to the Daily Mail looking a little more closely at the ingredients and a small boy from Wales who apparently turned orange after a hefty Sunny-session (his sad story can still be found on YouTube if you are minded). In this perhaps lies the problem and maybe even explains why my daughter was a not as loyal as she might have been....its not the branding its the product. We were shortlisted for The Grocer Awards. One of three up against two household yogurt names and brandishing independent consumer research that stated our yogurts will find the shopping baskets of 65% of those purchasing yogurts. I was now spending most of my time identifying new ways to pat myself on the back and to inveigle the subject of dairy branding awards into all conversations. It was whilst wondering whether the new brand had legs to extend out into clothing art and perhaps a globally syndicated cartoon of world domination proportions that my MD seriously interfered with my parade. In short all this branding and researching is important. It grabs the eye of the consumer and when it works helps secure that first purchase. What really matters though is the product. I had missed the Sunny Delight lesson. Whilst I rejoiced in my concept of marketing as the fourth emergency service bringing profitability and purpose to the farmers the production staff and the sales team in fact we are just the pimps the introducers. We persuade the public to look to try and to decide. The product brings them back....or makes them orange depending on your choice. So when that pudgy arm grabbed the Classic Herd yogurt as yet unaware of the marketing messages I spent so long developing it was just saying I like this and I want more. I respect that. Sure she has now begun a branding awareness re-education programme to bring her up to speed but she has in the meantime reminded me that it s the product stupid and it always was. jsy CONNECT JULY 2015 77 Here s the Thing Here s Good news. And a tragedy. A triumph for reason. A disaster for democracy. After years of delay and prevarication progress is finally here trampling over the face of public protest. The decision to press ahead with the Jersey International Finance Centre is all of these things and it is none of them. Here s the thing. The sorry sordid shambles that has played out over the last few weeks marks a unique moment for politics in Jersey that defies logic literally everyone involved was completely wrong about absolutely everything and yet the right decision was reached. Our new Council of Ministers left it should be said in a pretty unwinnable situation by the last generation of ministerial types found themselves in the insane position of arguing that on one hand no aspect of the development posed the slightest risk to the public purse while on the other hand delaying just a month could cost taxpayers untold millions. They were not alone in standing on difficult ground. The protestors found themselves in the bewilderingly untenable position of arguing that democracy democracy itself demanded a delay pending a Scrutiny panel report conveniently ignoring that fact that on five occasions the democratically-elected States Chamber had decided against shelving the scheme and that at least one Scrutiny panel had already given the plans the green light. This dear reader is nonsense piled upon nonsense. It is madness on rocket boosters. It is hypocrisy on steroids. Everyone involved should be thoroughly ashamed of themselves. 78 JULY 2015 jsy CONNECT And yet they re not the real villains of the piece. To find the moment when this plot started to unravel you have to go all the way back to the moment that it all began. The States of Jersey Development Company Jersey International Finance Centre isn t something that went wrong. It s always been wrong. It started out that way. From the moment that the first master-plan was approved in 2007 it was stupid. The vanity of the ministers who pushed it then is mind-blowing the plan then was for 620 000 square feet of offices 400 flats 1 420 parking spaces 65 self-catering flats a hotel... basically they were pretending to be Kevin Costner in Field of Dreams the difference was that they were doing it with public money and assets owned by the taxpayer. If you build it they will come was the logic of that film and those seven words were about as far as the Waterfront mob got in terms of economic analysis. Senator Philip Ozouf is the last man standing of that first generation of ministers but it s not fair to lump all of this on him he was one of a group drunk on vanity persuading themselves that for no discernible reason at all that they d do a better job of office development than the people who have been doing it for a living for decades. And so the great crash of 2008 came and went. And noone built anything and no-one came. It took four years for ministers to get the message and come back with a much-reduced scheme. It has taken almost another four for work to begin on the basis of one tenant taking 16 500 square feet of office space or to put it another way 2.6% of the total of the original plan. At the current rate the scheme will be full around the year 2300. That s a few decades after the events in the last Star Trek film. YES Perhaps the SOJDC think the Klingons might be needing some office space. But get some ministers on their own off-the-record and they ll admit that the plug should have been pulled years ago. It would have been the bold brave thing to do especially while the professionals like Dandara and Camerons have been knocking up offices and filling them with tenants such as RBC PwC KPMG and Ogier (literally the exact people that the JIFC was conceived to house) the whole time while the line coming out of the States of Jersey Development Company Waterfront Enterprise Board for the last eight years has been ...everything s fine work s going to start any day now there s loads of demand and if there are any problems it s only because people keep asking us questions. Well duh. That s how the social contract works. The deal is that governments get to take money away from us but we get to know what they do with it. While ministers have been bemoaning misinformation and poor communication they haven t come close to acknowledging that the reason for the mistrust and suspicion is that they ve been so defensive and opaque about what s going on and insisting that everything was fine when it very clearly wasn t. But while the bold thing to do would have been to put a stop to it all it was never an option. Conceding that a mistake had been made was deemed worse than pressing on and spending millions running the SOJDC and telling everyone that the sun was shining while they were standing in the rain. And yet we are as Waterfront ringleader Frank Walker used to say where we are. It would have been better to cut our losses years ago. It was madness to keep going. But that moment has passed. It would be stark raving lunacy to have stopped the scheme at the first moment when a tenant had come forward and work was about to start. On this finally the ministers were right. It would have cost more money and rendered every penny of the millions spent thus far a complete waste at a time when we re laying off people in the public sector and introducing new taxes for health and waste to balance the books. The fact that 17 politicians were prepared to go along with that lunacy is frankly beyond the territory of normal irrationality and into the final frontier of just being terrifying. That kind of thinking is a bigger threat to Jersey s future than obesity the ageing population or HSBC deciding to up sticks. It s the same kind of madness that lies behind the curious reality that the people most loudly baying for the Scrutiny report s publication are those least capable of being swayed in their views by its findings. Those 17 politicians are wrong. The protestors who have been banging on about this for weeks are wrong. The Council of Ministers have been consistently wrong about all of this for years. Somehow in defiance of all reason and logic all of that wrongness has combined to create the right decision. All we have to do now is hold on for another 285 years and this thing might finally turn a profit. Have your say... Connect s political columnist Ben Qu r e spent far far too long covering the States during his 13 years as a noted news reporter and commentator. In Here s The Thing... he takes on a key subject each month drawing on his experience knowledge and contacts to lift the lid and stir things up If you want to contact Ben Qu r e please email ben 1 July Survey of Financial Institutions pavement Is that the cool Are those green shoot s pushing crack s through the Might that be the gentle rumble of an breeze of change brushing through DD s hair feet Is that stirring in DD s loins economic recovery shaking the ground beneath our is that we ll know at the start of caused by... alright let s stop there. The good news ully the answer is nothing cos it s July what s going down in finance town and hopef all going up instead. been frozen at around 1.1 billion For the last three years net profit in the sector has year will show an improvement. if you listen to the talk then these figures for last bly think that there ll be six But then again if you listen to the talk then you proba day now. Here s DD s quick guide new office buildings on the Esplanade car park any ter s economic policies are to decoding the spin if they say it s proof that minis if they say that the figures are working then there s probably been a tiny increase better. out of date and irrelevant then things haven t got any 3 July The Natwest Island Games closes Games is a ruddy wonderful We all love a bit of sport don t we The Natwest Island splash around a bit of cash it s thing in DD s humble view. It brings people here to us all something to do watch led to investment in local sporting facilities and it gives s not to like forget all about for a few days in the summer. What 8 July Business Tendency Survey April-June 2015 if only there was some kind of DD knows what you re thinking. You re thinking DD oever how people feel about survey which showed without any evidence whats Survey has landed It s more business Rejoice reader The Business Tendency bout- our-feelings type of survey than your touchy-feely-lets-hold-hands-and-talk-a nonetheless. The last version anything you might be used to but it s a nice thing with construction wholesale showed the strongest result s since September 2009 and retail showing good numbers. Every month Connect will be flicking carefully through the future calendar of political and business events ...and chewing over what it finds there . 80 JULY 2015 jsy CONNECT Deadly Diary 9 July Chamber of Commerce lunch Visit Jersey Chief Executive Keith Beecham fix Jersey s tourism indus try a This dude has a tough tough gig. He s been hired to whiniest hypocrites on the face of delightful little coterie that includes some of the a backdrop of just about every the planet. Not only does he have to do that against -class exper t on the subject single person in Jersey considering themselves a world visitors by 2030 ) the States he s been set target s that are literally insane (a million ised about 20 years ago to are still refusing to handover the 5 million they prom not better. Keith Beecham support the indus try and our airlink s are getting worse red pants. doesn t need a strategy he needs a cape and some 14 July The States are having one last get-together The brave little troopers from the States Chamber holiday bless their cotton socks. before they embark on their seven-week summer due any day now and Expec t some whinging about the States financial plan ing some boring bilge about some debate about the Great Issues of The Day includ aircraft registration. Utter utter the population register the public finances law and snooze-o-rama. 17 July RPI June 2015 some others the last repor t Ah more like it. This RPI figure is more impor tant than d the hand of the Council of showed an RPI increase of 0.6% which streng thene for public sector workers in 2015. If Minis ters when they announced a pay freeze their unhappy faces about there s a big increase expec t the unions already doing the RPI is the flipside of the cos all of this to get a lot unhappier and quite quickly of fuel g equation. As per usual it was decreases in the costs whole cost-of-livin drop in oil costs south but the and light and leisure goods that dragged the index 12-month RPI span soon so some upward movement should start to drop out of the is not entirely out of the question. Want more Read Take Five on page 08 jsy CONNECT JULY 2015 81 Question What s the best business to business platform in Jersey (show working out) Answer High footfall areas x 6 000 print Delivered to 7oo key locations (inc. airports hotels etc) 10 magazine stands x 155 000 1 000 mailed direct to business leaders Online at www.bailiwickexpress.c om x 6 000 social media audience (2 000 business tweets) 2014 8 000 e-publisher edition readers 1 000 Guernsey business email subscribers 14 000 readers 7 000 Jersey daily news email subscribers (read online worldwide) CONNECT How business should be done If you d like to advertise in CONNECT magazine please contact Mark Ferns on 01534 510309 or email markferns 34 510309 4 510309 030 0309 30 309 A worthy cause I guess that a least a fair number of people who read my regular column will have an interest in law. Yes I m sure there will also be many readers simply passing time in the waiting room of their dentist wondering which is worse reading this or what s to come in the chair. However for those of you with an interest in law I thought this month I would write about the Jersey Institute of Law. Some 17 years ago I began studying for my Jersey Law exams. I had completed my law degree at King s College and had been called to the Bar in London as a Barrister. Learning the law at university was not easy at first. I had never picked up a law report never read a text book on any area of law and never attended a university lecture and I d been out of academia for about 9 years having left school at age 14. However all of that paled into absolute insignificance when I began to study Jersey Law. There were no text books a very poor syllabus no teachers and no notes. I was alone. The mass of material I had to study and learn was in the good times depressing in the bad times it seemed insurmountable. Ironing my shirts suddenly became enjoyable and an excuse to avoid study. The two years of studying was hard but the exams were even harder. One exam every day for six days. If you failed an exam in the set of six you had to sit them ALL again. I mention all of this because I wanted to try and convey how hard and demoralising it was. Since then things have changed. In 2008 the Institute of Law was incorporated and for the first time in Jersey a physical Law Centre was created. The Institute s Chairman is former Bailiff Sir Philip Bailhache and since its creation it has expanded and strengthened and is now a first-class educational facility. The Jersey Law Society s mass of legal books that used to live in boxes in some dusty archive are now catalogued and stored in a dedicated legal library. The Institute s academic staff have been selected carefully and comprise many notable visiting Professors. Notably at last there is a clear syllabus for the Jersey Law exams with a dedicated law course which can be taken in modules over a year two years or three. But the institute is so much more than simply a centre for those wishing to qualify as local advocates or solicitors. It now also undertakes first degree courses in law connected to the University of London has a series of continued professional education training and lunchtime simple lectures for members of the public. In short it has become a firstclass resource advancing the learning and knowledge of law accessible to all and at many different levels. What may come as a surprise however is that the Institute does not receive any States grants or subsidies and so has its own financial independence. So how does it survive In part its expenses are met by fees paid by those enrolling in the educational courses. However for its long-term survival it has established a trust the Institute of Law Endowment Trust with a primary focus on securing premises in which it can grow further. More recently the Institute has launched an appeal to raise funds for the Trust. One particular aspect of the Trust s aims really appeals to me ensuring there is adequate provision to allow people to study law who otherwise would be excluded because of lack of money. Despite what I said above about the trials of studying I never regret having embarked on my studies. It is a fascinating subject (at whatever level) and those with a real interest in it should be able to advance no matter their background. I strongly recommend that you visit the Institute s website at www.lawinstitute. so that you can see the good work its doing in the Island learn more about the courses and functions it provides and perhaps dip your toe into a fascinating and rewarding course. If you would like to donate to the Trust to help the Institute continue information can also be found on the website. For those of you in a position to make a donation I sincerely hope you will consider the Institute it is a faculty that has long been missing in Jersey and its continuance is so important. The Advisor Olaf Blakeley is an Advocate specialising in litigation and commercial law If you have a legal question you would like to put to Advocate Blakeley please email editor 84 JULY 2015 jsy CONNECT Clear investment. Pure energy. YOUR GARDEN SWITCH TO ELECTRIC MAKE MORE OF EYE-SORE SEESAW Have to move or replace your oil tank Move it for good. Switch to clean efficient electric. For a free quotation call 505460 The Skills Accelerator grant has helped me to attend courses in the UK enabling me to continue my professional development and expand my chiropractic skills and knowledge. I have been able to apply the treatment methods I have learnt at these courses to effectively treat my patients and help alleviate their pain. Gemma Weston GW Chiropractic Employees. Employers. Grants up to 4 000 still available for skills training. Skills Accelerator grants provide support to employees of local businesses (SMEs) to access training that will make a difference to the viability or diversification of their employer s business. Grants could support personal development vocational or specialist training and training for employees looking to progress to a new role. Successful applicants are offered a grant of up to 75% of the total balance of their training costs up to 4 000. Launched by Skills Jersey in September 2013 the grant has now received more than 225 applications. To be eligible for a grant applicants must be able to demonstrate their residential status and businesses must have been trading for a minimum of six months. For further information about the Skills Accelerator and how to apply visit Skillup Boosting Skills. Growing Business. A Skills Jersey Initiative