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Category: Shard Capital News

Shard Capital increases its global custody capabilities by partnering with SIX 

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Shard Capital Partners LLP is delighted to be partnering with the financial infrastructure operator SIX, to expand its Custody offering and increase its global reach.

As the leading and trusted Financial Market Infrastructure operating Central Securities Depositories (CSDs) in Switzerland and Spain as well as integrated international Custody services worldwide, SIX has a long-standing track record in delivering comprehensive and high-quality Custody services to wealth managers.

This new sub-custodian relationship will help Shard Capital further its wealth management aspirations by providing clients with the highest level of security for their assets and the best service at the greatest value. It also gives Shard Capital access to global, multi-jurisdictional support to continue its strategic global expansion.

The partnership will complement Shard Capital’s current custody arrangements, ensuring that the best service at the greatest value is available to all clients.

Commenting on the news, Toby Raincock, CEO, Shard Capital, said: “This is another important step in Shard Capital’s growth story, enabling us to bolster our custody capabilities and maintain our focus on providing quality, value propositions to our clients. Asset custody is of huge importance to our business and by partnering with a global operator such as SIX, we can better service our clients’ needs. We are now extremely well-placed to continue to progress our wealth management division thanks to our breadth of investment management expertise, sophisticated platform technology and range of high-class sub-custodians.

“Following our successful entry into the Irish market in September 2021 and the launch of Shard Capital Jersey’, we are continuing to focus on strategic global expansion and this partnership represents a fantastic opportunity to help accelerate this growth.”

Javier Hernani, Head Securities Services, SIX commented: “We are delighted to partner with Shard Capital and are looking forward to a close and strong collaboration. Our best-in-class market access models, expertise and integration capabilities combined with our growing international presence are the basis for flexible end-to-end Custody services tailored to clients’ needs and ensuring highest client experience. With the recently established teams, one in Singapore and one in the United States, SIX is now able to provide even more direct market access internationally, enabling us to offer relevant market know-how to Swiss and international customers. We are growing for our clients and at the same time supporting them in their growth and expansion ambitions.”

For further information, please visit www.shardcapital.com or contact:

Media Enquiries

Shard Capital c/o SEC Newgate      ShardCapital@secnewgate.co.uk
Sally Walton            Isabelle Smurfit     +44 (0) 7961 463 864 +44 (0) 7525 133 461

SIX

Media Relations: T +41 58 399 2227 or pressoffice@six-group.com

Shard Capital:

Shard Capital is a leading, London headquartered wealth manager. It also offers investment, dealing and capital markets services to private, corporate and institutional clients, supporting them to achieve a broad range of objectives through its highly tailored service. Shard Capital uses a range of platforms, markets or financial instruments to meet its clients’ needs.

In just 10 years, Shard Capital has grown organically to manage and administer more than £1bn of assets. The Shard Capital team includes more than 75 specialists in the UK and abroad and its leadership team has a proven track record in successfully managing financial and professional services companies, gained at brands such as Barclays, Deutsche Bank, Brewin Dolphin, KPMG and EY.

SIX:

SIX operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for Post-Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers. The company is owned by its users (120 banks). With a workforce of 3,685 employees and a presence in 20 countries, it generated operating income of CHF 1.5 billion and Group net profit of CHF 73.5 million in 2021.

New investment services business launching in Jersey

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A new and independent investment services business, Shard Capital, has launched in Jersey.

Offering discretionary, advisory and execution only investment services to trust, family office and private clients, including any clients who require a Jersey based, cost effective custodian for safekeeping their assets.

Shard Capital Jersey’s independence and local decision-making ability allows it to be agile and responsive to changing economic conditions and client demands, in a world that is adapting to unprecedented challenges. The business has flexibility to work with business partners that are best positioned to help deliver efficient and lower cost client centric solutions.

Led by CEO Greg McIntyre, the team has many years of investment experience and expertise.

Commenting, Greg McIntyre, CEO:

“We are delighted to announce the launch of Shard Capital in Jersey. As a fully independent company we will provide our clients with a bespoke, personalised director led offering. The key to delivering a great client experience is in the team we are building, and we are therefore delighted to have seasoned investment professionals Marc Schroeder and Mike Hollings helping to lead the business.

“This is a hugely exciting time for us. Following extensive feedback from trustees, we are delighted to launch a bespoke defensive investment strategy. This solution is available to clients who would like to increase returns on existing cash holdings, but don’t want to invest in the financial markets. We are confident that we have a suitable solution and look forward to further diversifying our service offering in the months ahead.”

Shard Capital (Jersey) Limited is regulated by the Jersey Financial Services Commission and is an associated company of Shard Capital Partners, an FCA regulated asset and wealth management business based in the UK.  This relationship brings two culturally aligned businesses together to share expertise, resources and networks. Shard Capital Partners has a strong track-record, supported by more than 90 staff and having over £1.5bn* in assets under management and administration.

*March 2021

For further information, please visit www.shardcapitaljersey.com

Media Enquiries

SEC Newgate                                                          ShardCapital@secnewgate.co.uk

Sally Walton                                                             +44 (0) 7961 463 864

Isabelle Smurfit                                                       +44 (0) 7525 133 461

Shard Capital enters Irish market with stake in Dublin-based Omnium Investment Platform

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2Shard Capital, a leading, London headquartered wealth manager, has agreed to take a 50% stake in the Dublin-based investment platform “Omnium”, the innovative technology solution for financial advisers in Ireland.

The deal gives Shard Capital access to a strong digital platform as well as access to new markets with a regulated entity to springboard its plans for expansion within Ireland and the European Union.

In turn, the investment from Shard Capital, which is subject to regulatory approval, will enable Omnium to accelerate its growth trajectory and capitalise on the huge demand for its digital platform over the last year.

Shard Capital CEO, Toby Raincock, adds:

“Shard Capital and Omnium are both client-focussed, solutions-led businesses and our combined entrepreneurial spirit and agility will ensure we are well-placed to create innovative solutions for clients. Shard and Omnium’s partnership represents a fantastic opportunity for expansion for both organisations and provides us with the ideal platform to expand our offering across both Ireland and the EU27.”

Christopher Ovenden, CEO, Omnium Investment Platform comments:

“The demand for our digital platform has shot through the roof in the last 12 months where we have seen five years of digital transformation take place in one year.

“By working with Shard Capital, we will be able to accelerate our enhanced offering to clients in Ireland and the EU, as well as extend the range of services we provide. Shard’s stellar reputation for excellence in client servicing fits in with our own commitment to providing the highest quality of service, and with access to their experienced, market-leading team, Omnium is ideally placed to accelerate our ambitious growth plans in the near future.”

The transaction concerned will see Shard Capital International Ltd obtain a 50% interest in Omnium and is subject to obtaining regulatory approval of the Central Bank of Ireland (pending at time of release).

For further information, please visit www.shardcapital.com or contact:

Media Enquiries

SEC Newgate            ShardCapital@secnewgate.co.uk
Sally Walton                Isabelle Smurfit   +44 (0) 7961 463 864 +44 (0) 7525 133 461

Note to Editors

Shard Capital:

Shard Capital is a leading, London headquartered wealth manager. It also offers investment, dealing and capital markets services to private, corporate and institutional clients, supporting them to achieve a broad range of objectives through its highly tailored service. Shard Capital uses a range of platforms, markets or financial instruments to meet its clients’ needs.

In just 10 years, Shard Capital has grown organically to manage and administer more than £1bn of assets. The Shard Capital team includes more than 75 specialists in the UK and abroad and its leadership team has a proven track record in successfully managing financial and professional services companies, gained at brands such as Barclays, Deutsche Bank, Brewin Dolphin, KPMG and EY.

Omnium Investment Platform:

Omnium is among the most innovative and comprehensive Investment Platforms in the domestic market, providing a transparent partnership model to intermediaries, trustees, brokers and wealth managers. The platform aggregates multiple asset classes in one place, providing straight-through processing & digital signatures, increasing transparency and reducing the cost of investing to the end-investor – all in a truly independent environment.

The platform also drives massive efficiencies for investment managers via data aggregation and automation thus driving the success of their operating models.

Shard Capital Partners with Walking with the Wounded to Sponsor The Grenadier Walk of Oman Expedition

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Shard Capital have partnered with Walking with the Wounded to sponsor its ambitious The Grenadier Walk of Oman trek across The Arabian Desert.

The Duke of Sussex will support the challenge as the official Expedition Patron along with generous support from the Royal Office of HM Sultan Haitham bin Tariq’ and in partnership with the Omani Armed Forces.

The Grenadier Walk of Oman expedition will commence on 20 November 2020 and will consist of a 4-man team of ex-service personnel, trekking 400km over the course of 21 days, ending on 11 December 2020.

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Shard Capital CEO Toby Raincock said,

Toby Raincock, Shard Capital CEO, finished with, “Having supported Walking with the Wounded for many years, Shard Capital is proud to sponsor The Grenadier Walk of Oman trek and in doing so, solidify its relationship with this fantastic foundation. Our team includes a number of people who previously served in the military and together, we salute the bravery of those injured in service who will be participating. We look forward to celebrating their success on completion of this extreme trek.”

The ambitious trek pays homage to the legendary travels Wilfred Thesiger took across the Arabian Peninsula in the 1940s and will also take the team across part of the Empty Quarter— the world’s largest sand desert, before bringing the arduous trek to a close on Oman’s Armed Forces Day.

The final team, all of whom have physical or cognitive injuries, will endure hunger, thirst and extreme temperatures to highlight the extraordinary courage and determination of the men and women who have been wounded while serving their countries and to draw attention to the support needed in their transition to civilian life.

Due to the hostile conditions and the nature of the injuries involved, the expedition teams will be followed by a support team, who will be on hand in case of emergencies.

Trekking around 20km to 22km per day, the team will endure temperatures as high as 95°F as they pull their custom-built cart, weighing in excess of 300kg, across the unforgiving Omani desert.

Before the final team is revealed, they will undergo a rigorous selection process in July to test both their physical and mental strength before preparing for this extraordinary challenge in the Middle East. Details of the selection process and expedition team will be revealed soon.

Other partners include INEOS Grenadier as lead partner, British Outdoor Clothing Brand Craghoppers, Drink & Sports Brand Monster, Satellite Communications Specialists Avanti Communications and The Invictus Games Foundation.

Sharp fall in UK Tier 1 Investor Visa applicants

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By Farzin Yazdi, Head of Investor Visa at Shard Capital

During the third quarter of 2019 the amount of main applicant UK Tier 1 (Investor) visas granted fell by over 60% to 49, from 124 in Q2.

Commenting on the data, Rafael Steinmetz Leffa notes:

“Considering the rule changes which happened in March 2019, it seems the information about the changes has not yet filtered down to the overseas professional community. When the last major rule change took place in Nov 2014, we saw a sharp fall in applicants until the new rules were fully absorbed by the professional community and prospective migrants. The last spike in the numbers could all be attributed to people that applied prior to the changes and were granted the visas throughout the Q2 2019 period, creating a bottleneck effect.”

“Other professionals we talk to have great expectations around high net worth individuals immigrating to the UK due to the unrest in Hong Kong. However, we hold the opinion that – because of this surge in demand for immigration services – liquidity simply is not present. Most of the individuals migrating to the UK historically had a significant portion of their assets in property investments and that is an illiquid asset. It would be counter-intuitive to sell these assets now that prices have dropped.”

“Another reason we may not see actual numbers go up until after Q2 2020 is that the high net worth migration to the UK is still driven by education. This visa category is mostly used by parents that wish to accompany their children to school here, and the busy period of school admissions has just passed.”

Active and trading UK companies moving offshore

Major UK utility companies are attempting to protect shareholders from the threat of a cut-price nationalisation by moving offshore. This election hedge may have significant implications for those who hold these shares or corporate bonds in their portfolio.

Reuters news agency reported that SSE, one of the leading UK electricity and gas companies, has incorporated a Swiss holding company. National Grid has opened subsidiaries in Luxembourg and Hong Kong. Press reports stated that Anglian Water and Yorkshire water have created overseas holding companies.

One of the key requirements for a qualifying investment as defined in Annex A of the Guidance notes is for the active & trading company to have a UK registered address.

We urge other professionals to review and monitor this situation as we are for our clients.

Source: Shard Capital

Shard Capital Partners named on UK Investment Support Directory

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We’re thrilled to share that Shard Capital Partners have been selected to be part of the UK Investment Support Directory – a government initiative to promote expertise of businesses and connect with investors from across the globe.

“It is another way DIT [ Department of International Trade ] is helping support foreign investment by streamlining connections between UK businesses and overseas investors.” Director General for Investment, Mark Slaughter. https://bit.ly/2QFAkbS

New record – 131 Investor Visas granted in Q1 2019

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By Farzin Yazdi – Head of Investor Visa at Shard Capital.

Today’s data release reminds me of the pre Nov 2014 rush we saw ahead of the increase of minimum investment from £1m to £2m – and the results are similar too. In 2014 from Q3 to Q4 we saw numbers double. This morning’s data release show an increase of over 40% from last quarter with 131 visas granted – with nearly 60% of all applicants coming from China*. 

And what a memorable quarter it has been; with the Statement of Changes on March 7 and new rules going live on the 29th of March. 

Is Britain still open for business?

When new rules are announced, it takes time for advisors and clients to fully understand them – and their subsequent implications. This time is no different. Many are still coming to terms with the implications of showing source of wealth for 2ys.

I’ve had more than one client explain to me that their cash has only been held for a short period of time, but they will seek to apply once it has been there for 2ys! In fact, from a financial perspective nothing has changed. Immigration rules have aligned closer to those in the financial world.

Given the above, I expect a few slower quarters before a return to the mean, which I believe will be a slightly higher average as some who may have chosen the Tier 1 (Entrepreneur) Visa, may now choose the Investor Visa category.

Managing money for Investor Visa purposes is a specialist service which differs significantly from ordinary investment management; requiring detailed knowledge, expertise, and capabilities in other areas in order to achieve with the ultimate objective – to get ILR. 

Overall I welcome the new rules, and whilst not perfect, it does help to protect the UK from unscrupulous sources of wealth and bring greater economic benefit to the country.

Thank you again to all those who took part in our survey. Together we have made a difference! 

If you would like more information on the Tier 1 (Investor) Visa, or would like to discuss this ONS release, please contact Farzin Yazdi – farzin.yazdi@shardcapital.com 

Important Information

“Shard Capital LLP is authorised and regulated by the Financial Conduct Authority. Important information: The information above is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. It does not constitute a personal recommendation as defined by the Financial Conduct Authority (FCA) or take into account the particular investment objectives, financial situations or needs of individual investors. The value of investments and any income from them can fall as well as rise. You may not get back the amount you invested. It should be remembered that past performance is not a guarantee of future performance. Every effort is made to ensure the accuracy of any information provided and no assurances or warranties are given. If you are unsure of the suitability of this product then you should contact and Independent Financial Adviser, authorised by the Financial Conduct Authority.”

Ashley Boolell – Shard Capital Commodities – April Overview Update

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Ashley Boolell, Commodities partner at Shard Capital, provides his insight on the latest commodity market developments following the release of the latest monthly report.

Watch the overview update.