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May 2009
03
I nves tme nt
I NTE RNATI ONAL
Comment
Contents
Jonathan Ball, editor
4 News
7 Letter from America
9
W
hat’s he smiling about? The rictus grin of the Prime Minister
adorns the front cover of this month’s edition of the magazine. Yet
does the man who is allergic to luck have anything to smile about?
Investment International
Certainly not if one considers the almost irreparable damage he has done
Blog
to the investment and banking community. And that is to say nothing of
The Chief Executive of
the distress caused to the tens of thousands of people who have already lost
Jersey Finance, Geoff
their jobs, and the further tens of thousands who will lose their jobs – and
Cook, defends jurisdictions
homes - during the coming months.
against government attack
The disillusionment, anger and outright contempt expressed towards
11 Money management for
politicians is without parallel. But then again the behaviour of the politi-
expats
cians is without parallel. The current furore over MPs expenses is entirely
James Gairdner of Halifax
justified. Their conduct simply beggars belief.
explains the do’s and
One might almost feel pity for the most hapless Prime Minister in living
don’ts for the expatriate
memory were it not for his crude populism. At the Jersey Finance Annual
community
London Trusts & Private Wealth Conference, held on 13 May, Geoff Cook,
14
the Chief Executive of Jersey Finance, highlighted particular remarks made
BUPA International
by Brown which were demonstrably inaccurate. As I’ve mentioned previ-
Dr Sneh Khemka, Medical
ously, the generalised, unfounded and irrational attack on the offshore
Director at Bupa
industry does immense damage. Brown clearly does not understand the
International, with an
Crown Dependencies – nor does he appear to want to – and the potential
evocative account of the
damage to London itself as products and offices find alternative homes.
torment of malaria
I am willing to make a prediction. Labour will be annihilated at the June
17 HSBC expat survey
4 European elections. The BNP will, deeply regrettably, gain a number of
The second part of the
seats, though not as many as they seemingly anticipate. Similarly, the
extensive HSBC Bank
Conservatives will emerge as by far the largest party, though not on the
International’s survey
scale they initially hoped for.
focuses on expat offspring
Brown will face immense pressure. Initially, typically, he will dig his heels
21 Mirae Asset focus on Asia
in. But he will be forced to go.
Focus on the growing
The Labour Party will consequently hold an election for the office of
power of the East
Prime Minister. There will be two candidates, Alan Johnson and David
Miliband. It will be an acrimonious contest, with Johnson emerging as the
23 King Sturge and property
winner by a clear but not overwhelming margin.
Latest research from the This is demonstrably not the scenario the investment community
leading property needs. Uncertainty is uncertainty. But it’s what’s going to happen.
consultants
25 Piraeus Bank
Editor Issue 225: May 2009
Jonathan Ball, 0207 490 0739
A leading Greek bank
Jonathan@thepublishinggroup.co.uk
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31 Offshore Funds Tables
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