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Expat Investor : May June 2008
Focus, our award-winning, innovative and cost-effective platform, is a fully integrated banking and investment service. Designed to make your life easier, Focus can save you time and money. To find out more about our first class wealth management services, call us on +44 (0) 1624 645000 or visit www.fairbairnpb.com Focus Have Focus. Achieve More. ( EXINV) First class service from the Best International Investment Platform Provider 2007 Winner Best International Private Bank Best International Investment Platform Provider 2006 Winner Best Offshore Bank Best Commitment to Service 2005 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) Best Internet Service 2004 Winner Best Offshore Bank 2003 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) 2002 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) 2001 Winner Best Offshore Banking Product Range distinctly different Fairbairn Private Bank is a registered trade name of Fairbairn Private Bank (IOM) Limited and Fairbairn Private Bank Limited. Fairbairn Private Bank (IOM) Limited is licensed by the Isle of Man Financial Supervision Commission for Banking and Investment Business and its principal place of business is in the Isle of Man. Fairbairn Private Bank Limited is regulated by the Jersey Financial Services Commission to carry on deposit-taking and investment business under the Banking Business (Jersey) Law 1991 and Financial Services (Jersey) Law 1998 respectively. Registered office: Fairbairn House 31 The Esplanade St Helier Jersey. Latest audited accounts are available on request. vital. Investec is a distinctive bank and we pride ourselves on our regular and personal touch. Our client relationship managers are based in Guernsey and this means Investec clients are able to liaise directly with someone who can provide intellectual information to enable them to make informed and profitable decisions. We earn our clients’ trust by offering a flexible approach, a fast response and high attention to detail. At Investec we strive to be a distinctive, specialist banking group driven by a strong sense of imagination and commitment to our core philosophies and values. Cast-iron integrity, based on maintaining the highest ethical and moral standards, lies at the heart of our approach to doing business. In the increasingly complex world of financial services, we find that these core values are appreciated by our clients. A IDAN D OCHERTY Managing Director, Kaupthing Singer & Friedlander (IOM) For our entire award-winning products, with many at the top of the Moneyfacts best buy tables, the minimum balance is only £10,000. This lower limit allows participation by a wider potential client base as many other competitors have substantially higher entry limits. The range of deposit products available varies and includes instant access and tracker accounts, available in sterling, US dollars and euros. Kaupthing Singer & Friedlander in the Isle of Man offer a range of fixed deposits accounts in all major currencies, with clients able to take advantage of the very competitive rates available offshore these days. At Kaupthing, we fully respect that customers still require a personal service which they can rely on. Consequently, we have avoided the concept of call-centres such as those used by larger institutions. Additionally, we do not outsource any of our customer support functions, preferring to concentrate on providing a truly bespoke personalised service for clients. Offshore banking is a growing and ever changing industry. This is despite the fact that stock markets have had a torrid time of late and although the global economy is currently in slowdown one would surmise that this won’t last forever. More and more people are relocating around the world and this is a trend that is likely to continue. citizens of other nationalities, to move from country to country and never expect to return ‘home’. For them, offshore banking is the simplest and most advantageous solution. Indeed it is the only real solution given the level of advice they will need and the pure logistics of their geographical position. Offshore bankers are specialists, so they can offer tailored advice about foreign currency, switching between currencies and where appropriate, provide fiduciary services, for example offshore trusts and so on. Needless to say, the same offshore banks must provide a competitive and broad range of deposit products to satisfy ever growing demands for ‘real’ returns from their accounts, this is where Kaupthing Isle of Man can help. These expatriates are using private banks for their advantages in financial planning and estate planning. There are also a lot of global entrepreneurs who choose to use offshore private bank accounts for the same reasons. It is not unusual for so-called ‘expatriates’ to be married to PRIVATE BANKING Fast Facts 55004 S TUART D OUGLAS Assistant Manager, Rothschild Channel Islands From our offshore base in Guernsey, May/June 2008 ? EXPAT INVESTOR 7 “Offshore banking is a growing and ever changing industry. This is despite the fact that stock markets have had a torrid time of late and although the global economy is currently in slowdown one would surmise that this won’t last forever.” Continued on page 8
July August 2008