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EXECUTIVE AGENCIES MEAN BUSINESS NW & Iom in association with the institute of directors isle of man and the north west of England

brand voice KPMG isle of man Managing bribery risk

Entrepreneur Jaime Amoedo HSBC Isle of man

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Welcome

to the ninth edition of Agenda.

F

or the first time I am writing this as part of an exciting new partnership between the North West and Isle of Man! And it is just that, a partnership formed to benefit members on the Isle of Man by tapping into the wider resources and networking activities of our neighbouring branches based in Liverpool, Manchester, Cheshire, Cumbria and Lancashire.

I was invited to attend the quarterly Regional Committee Meeting in September where I had the pleasure of getting to meet many dedicated and experienced Chairmen to discuss our priorities on the Isle of Man, such as having local CPD courses, interesting networking events, and a strong policy voice through regular meetings with the Department for Enterprise. Claire Ebrey, our new Regional IoD Director, also flew over and attended our bi-monthly Committee Meeting and was impressed with how well we worked together as a supportive team. As usual, the meeting was held in our boardroom at the Claremont, which may not quite compare to Pall Mall, but our on-island headquarters offers excellent service and is often used by locals for regular functions and coffee meetings. We hope it will also be the place where visiting members have the opportunity to mingle with our growing Isle of Man membership base. A launch party will be held in early 2019, details to be made available on our website.

Another benefit of the new partnership is the combined Isle of Man and North West Director of the Year Awards 2019. Please encourage talented business leaders to apply, as many will not want to volunteer themselves! You do not need to be a member of the IoD, and the online application is open to anyone who displays the visions, values and achievements highlighted in 11 different prize categories, ranging from small start-ups to listed companies. Please contact me or Claire Veale for further details.

A big thank you to all members, guests and sponsors for supporting the many activities that have been held in the last quarter:* Dining Club with Bill Shimmins MHK * Autumn Prestige Lunch with the Lieutenant Governor, His Excellency Sir Richard Gozney * Ladies Lunch with Maria Bridson * 8th Annual Enterprising Women Conference held in The Plaza, Stockport * Wine Tasting Quiz hosted by Anne Berry I feel privileged to be given the opportunity through these functions to meet inspiring speakers, members and guests who make me feel very proud to be part of our unique community.

Lesh yeearreeyn share - with best wishes,

Jennifer Houghton Chairman Institute of Directors - Isle of Man

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CONTENTS

BRAND VOICE

UPDATE

3 6

WELCOME BUSINESS NEWS

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KPMG ISLE OF MAN - MANAGING BRIBERY RISK

FEATURES

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AN ICON OF DESIGN - LYNN DAY, STARBUCKS

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JOURNEY OF AN ENTREPRENEUR

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22

ISLE OF MAN SUPER YACHT FORUM IN MONACO

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A M MARINE TECH - GLOBAL YACHT CONNECTIVITY

ENTREPRENEUR - JAIME AMOEDO HSBC

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EQUIOM - SUPER YACHTS, A NEW ERA FOR THE ISLE OF MAN

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ON THE AGENDA...

OPINION

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FOUR EXECUTIVE AGENCIES MEAN BUSINESS

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ATHENA LAW - EMPOWERING WOMEN

TECHNOLOGY

36 38

MT CLEARSOUND - GLOBAL FIRST MOBILE TECHNOLOGY 5G SIGNALS A STRONG FUTURE

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FINANCE.IM CYBER SECURITY EVENT

IOD – IOM

41 42 44

BUSINESS EVENTS WHAT’S ON

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AUTUMN LUNCH FOODBANK EVENT

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JO HAIGH EVENT

IOD COMPANY DIRECTION PROGRAMMES

48 MEMBERS INTERVIEW - SANDRA SKUSZKA

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IOD EVENTS

APPOINTEMNTS

54-60

MOVERS & SHAKERS

CONTRIBUTORS Matt Mosur (Photographer) Liam Gilman (Photographer) Peter Kwiecinski (Photographer) Les Able (Journalist) David Watterson - KPMG Isle of Man CONNECTING BUSINESSES

Chiva Samani - Athena Law Steve Cain - Equiom Joseph Tully - Masterpixel Mike Phillips - Sure Carolyn Gelling - TISE Claire Veale - IoD - IoM

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update news

Opportunity for Island Businesses to Show Ability to Adapt as Political Headwinds Threaten Global Trade

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nternationally-focused businesses in the Channel Islands and Isle of Man need to demonstrate their ability to adapt as political headwinds threaten to disrupt global trade patterns, according to HSBC’s Head of Commercial Banking in the Channel Islands and Isle of Man. A new HSBC survey of over 8,500 companies in 34 markets, ‘Navigator: Now, next and how for business’, published this week, shows that businesses around the world are upbeat about their prospects, encouraged by customer demand and favourable economic conditions, but are revising their strategies as protectionism dents the outlook for international trade.

The report finds that more than three quarters (78%) of companies are positive about the trading environment, rising to 86% in ASEAN countries and 82% in the EU. Yet at the same time, political headwinds are gaining strength as 63% of firms think governments are becoming more protective of their home economies.

For those companies with a negative outlook on their company’s prospects, tariffs and the US-China trade dispute are the main reasons for pessimism (31% each). In mainland China and Hong Kong, markets that Guernsey, the Isle of Man and Jersey have all built strong links with over recent years, the political dispute with the US is the greatest concern (65% and 53% respectively).

Reflecting these uncertainties, many companies are turning their attention to intra-regional rather than inter-regional trading opportunities. When asked about their top targets for future trade growth, for instance, the number of European companies citing Asian markets dropped from 26% in the first quarter to 13% now.

At the same time, more Asia-Pacific companies are looking at China as a future growth market.

Commenting on the findings, Warwick Long, Head of Commercial Banking, Channel Islands and Isle of Man, said: “Businesses are staying positive, but they’re signalling to policymakers that protectionism is a significant concern that’s reducing their appetite to grow through international trade. Some are looking closer to home for opportunities, and many are adapting their approach to stay fit for the future.

“For globally-dynamic busineses in the Channel Islands and Isle of Man, this means that now more than ever, they need to show their understanding of global markets and demonstrate an ability to adapt. As IFCs immersed in cross-border trade, these findings are particularly pertinent for financial services firms and those who have invested heavily in building relationships with

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overseas markets such as China. There are challenges but also real opportunities, and those that can best demonstrate their agility will emerge the winners.”

Meanwhile, the report also finds that businesses are placing a real emphasis on skills development and productivity enhancements, with more than one in five (22%) businesses having invested in research and technology over the last two years, three quarters (75%) looking to data to drive business optimisation and more than a quarter (26%) considering

technological advancement as the top reason for choosing a supplier. Warwick added: “All sectors in the islands should sit up and take notice of these findings.

This report strongly suggests that technology, digitisation and data will play an increasingly important strategic role by enabling businesses to develop their products and services, reach new customers and cut costs by improving operational efficiency.”

ON THE AGENDA...

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SEVENTH HEAVEN FOR DANDARA AFTER PRESTIGIOUS INDUSTRY AWARDS SUCCESS

he Dandara Group has claimed seven titles at the prestigious UK Property Awards.

At a gala ceremony at the Royal Lancaster Hotel in London, the developer was awarded a “Highly Commended” citation in addition to six “5 Star” ratings, the highest level possible, which included success for two Isle of Man schemes.

The Holly, a two-bedroom bungalow development at Slieau Whallian View in Peel, was named the Best Residential Property (North West England category), while The Maple, a four-bedroom detached family home at Ballakilley in Port Erin, secured the title for Best Architecture Single Residence.

The awards ceremony, which recognises high standards in architecture and design in projects across the British Isles, was attended by a number of Dandara representatives from the Isle of Man.

CONNECTING BUSINESSES

Other success for the Dandara Group came for its properties in Scotland and the south of England.

Beech Walk at Hazelwood, in the West End of Aberdeen, secured the title of Best Residential Development (Scotland), and The Yew, a spacious five-bedroom detached family home, also in Aberdeen, also received a five-star award in the Residential Property (Scotland) category.

Dandara Living earned the Best Lettings Agency (Scotland) title.

The Church View development in Tenterden in Kent picked up a double award.

It was named leading Residential Development (South East England), with four-bedroom detached home The Reed, located within the same award-winning development, taking the win for Best Architecture Single Residence (South East England).

Submissions were judged against

strict criteria and assessed by a 70-strong expert panel of respected professionals from throughout the industry, focusing on design, quality, service, innovation, originality and commitment to sustainability.

Dandara Managing Director Seamus Nugent explained: ‘To have received such overwhelming recognition in such highly competitive awards is naturally a real boost. 2 ‘It was pleasing to see recognition for a diverse range of residential developments which celebrates the high standards of both design and architecture.

‘Each submission was subjected to a thorough assessment by international industry experts and the entire process was extremely rigorous so each accolade is a major achievement. To gain six “5-star” ratings is an outstanding accomplishment and a major endorsement of the high quality of Dandara’s work.’

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update news

(left to right, all from Old Mutual International) Peter Kenny, CEO; Cheryl Gleeson, Marketing Manager Middle East and Africa and Helen Abell, International Proposition Specialist.

(left to right) Karen Blatchford, Head of International Marketing and Proposition; Elodie Barron, International Marketing Manager; Sophie Heywood, Bonds Marketing Manager; and Paivi Hagelberg, Investment Marketing Specialist.

Old Mutual International wins six prestigious annual awards

O

ld Mutual International has won six prestigious awards – three at International Investment’s annual International Fund and Product Awards, and three at International Adviser’s Global Financial Services Awards.

The International Investment awards, presented at a ceremony at the Merchant Taylors’ Hall in the heart of the City of London, recognised wealth management and financial advisory firms that are leaders in their respective fields in adopting the best client-focused practices, and regularly go that ‘extra mile’. Old Mutual International won the following categories: Best Best-Practice in Asset Management/Life Products/Bonds (Future Fit); Best International Portfolio

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Bond (Wealth Portfolio); and Best International Protection Plan (Silk).

The Best Practice award is particularly significant because it is the third successive year that the company has won it for its Future Fit programme.

Future Fit is a year round campaign, with a supporting website, that helps advisers in the company’s international territories to navigate the regulatory changes and deliver good customer outcomes.

At the International Adviser Global Financial Services Awards – held at the Grosvenor House JW Marriott Hotel in Mayfair – the Island’s biggest life company won the International Life Group of the Year (Non-UK), Best International Portfolio Bond, and Best

Digital Proposition categories.

Peter Kenny, CEO of Old Mutual International, said: “I am delighted that Old Mutual International has once again been recognised with these industry awards. This is a great achievement for the business and for the whole of our international team. I would like to thank everyone who has contributed to this success, none of which would have been achieved without the commitment and hard work of our employees.”

The award successes follow more recent good news. Quilter plc (Old Mutual International’s parent company) announced changes to its Executive Committee, and this included Peter Kenny, Managing Director of Old Mutual International since August 2016, being promoted to CEO of Old Mutual International and appointed to Quilter plc’s Executive Committee. Peter, who was the keynote speaker at the 2018 International Adviser Global Financial Services Awards, will continue to drive the momentum that has been gained regarding the transformation of the international business during his time as Managing Director.

In 2017 Old Mutual International won 12 categories in International Adviser’s International Life Awards, and three at International Investment’s International Fund and Product Awards.

The International Adviser awards have been restructured this year, and there are fewer categories than in previous years. Previous award performance is not indicative of future performance.

ON THE AGENDA...

LEGAL GUIDE RANKINGS CONFIRM APPLEBY AS LEADING LAW FIRM IN ISLE OF MAN

C

hambers UK 2019 Guide and IFLR1000 2019 Guide confirm leading status for Appleby Isle of

Comments on the firm within the edition include: “Considered a first port of call by financial institutions for a wide range of M&A and transactional matters” and “fields a formidable team of litigation experts, with a deep level of experience advocating for clients before the Isle of Man courts”.

Produced by Chambers and Partners, and updated annually, the Guide identifies the best law firms globally. They assess firms based on several factors and considerations, with the London-based team, comprising 200+ researchers, conducting thousands of interviews in 20+ languages.

Individual lawyers are also ranked in their practice area(s). In the 2019 Guide, nine Isle of Man lawyers have been recognised: Faye Moffett, Simon Harding, Kyle Sutherland, Mark Holligon, Christopher Cope, Charles Davies, Caren Pegg, Claire Corkish (née Collister) and Mark Emery.

The IFLR1000 2019 Guide, released Friday 2 November 2018, confirms Appleby Isle of Man as Tier 1 in the Financial and Corporate practice area; the only law firm to achieve this ranking in

Man Appleby has retained its position as the Isle of Man’s highest-ranked law firm in the newly-released Chambers UK 2019 Guide and IFLR1000 2019 Guide.

Released on Thursday 1 November 2018, the 2019 Chambers UK Guide ranks Appleby’s Isle of Man office as Band 1 in the following practice areas: Corporate & Finance, Dispute Resolution and Employment. Appleby is the only Isle of Man law firm to receive a Band 1 ranking in three practice areas.

the Isle of Man. The IFLR1000 is the guide to the world’s leading financial and corporate law firms and lawyers. The research ranks firms by practice area in more than 120 jurisdictions.

Faye Moffett, Managing Partner of Appleby Isle of Man, said: “Following the results of The Legal 500 2018 Guide last week, I am thrilled that the office has received further recognition in the Chambers UK Guide and IFLR100 Guide, putting Appleby at the forefront of legal firms on the Isle of Man. “Congratulations to the entire firm on achieving this position, as well as the individuals ranked within their practice areas.”

Last week Appleby Isle of Man also announced its ranking in The Legal 500, which ranked the firm as Tier 1 in seven practice areas and Tier 2 in two others.

Appleby Isle of Man is the largest law firm on the Isle of Man with over 30 lawyers, servicing a broad range of clients.

We’ve always been by your side Celebrating 30 years of private banking and unwavering client service excellence in the Isle of Man. For a multi-award-winning approach, phone 645000 or visit

WWW.NEDBANKPRIVATEWEALTH.COM

ISLE OF MAN

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JERSEY

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UNITED KINGDOM

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UNITED ARAB EMIRATES

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SOUTH AFRICA

Nedbank Private Wealth is a registered trade name of Nedbank Private Wealth Limited. Nedbank Private Wealth Limited is licensed by the Isle of Man Financial Services Authority. Registered office: St Mary’s Court 20 Hill Street Douglas Isle of Man. The Jersey branch is regulated by the Jersey Financial Services Commission. The London branch is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registration No: 313189. The UAE representative office in Dubai is licensed by the Central Bank of UAE. Licence No: 13/191/2013.

Representation in South Africa is through Nedbank Limited. Registered in South Africa with Registration No 1951/000009/06, an authorised financial services and registered credit provider (NCRCP16).

CONNECTING BUSINESSES

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update events - (IOMBN) Lynn Day, Starbucks

An icon of Design

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ore than 70 people attended a recent event on the Island with Lynn Day, Design Director for Starbucks in the EMEA region. She was visiting as a guest of the Isle of Man Business Network, talking not only about her meteoric rise to success working for one of the world’s leading brands, but about her passion for supporting women to achieve success in the workplace.

Lynn’s presentation was incredibly witty and insightful, charting her early days leaving home in Huddersfield for the bright lights of London and landing her first career role at the age of 21 for the Conran Design Group, to her struggles balancing her job with bringing up two children to working on some of the most visible design statements you’ll see today.

These include the rebrand of Selfridges and its flagship London store, development of the Harrod’s store in Heathrow T5 and a large M&S store in Westfield.

She was especially candid about reinventing herself now that her children have grown up, going on to land her dream role at Starbucks, and how she continues to remain relevant in such a fast-paced and rapidly-changing world. She also spoke very passionately about the role she believes employers have to play in supporting parents in the workplace, and about the importance of setting career goals and objectives, no matter how large or small. www.iombn.im

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ON THE AGENDA...

CONNECTING BUSINESSES

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update events - Journey of An entrepreneur

Journey of an entrepreneur

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ntrepreneurs and investors from a range of sectors discussed the opportunities and challenges faced by start-up businesses in the Isle of Man with a panel of industry experts at the Barclays Eagle Lab. The ‘Journey of an Entrepreneur’ event was held on Wednesday 14 November during Global Entrepreneurship Week, an annual celebration of the innovators and job creators who launch start-ups, bring ideas to life and drive economic growth around the world.

The expert panel included: Pauline Smith from Greenwave, an accountant who works with entrepreneurs and small businesses; Carolyn Gelling from The International Stock Exchange (TISE), which is a leading international stock exchange for debt and equity listings; Paul Maddocks from the Department for Enterprise, responsible for economic development and the creation of an environment where local entrepreneurship is supported and Katie Nicholson from Bridge, the Manx Angel Investor Network which encourages investment into start-ups and high growth businesses on the island.

The practical process of setting up as an entrepreneur was discussed during the Q&A style event, including opening a business bank account, the support provided by the Isle of Man government, applying for funding, raising capital, writing a business plan and how to work with angel investors.

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ON THE AGENDA...

CONNECTING BUSINESSES

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entrepreneurs - isle of man

Jaime Amoedo head of corporate and commercial banking with HSBC Isle of Man The Isle of Man boasts a high degree of entrepreneurship and innovation. This is the unequivocal opinion of Jaime Amoedo, head of corporate and commercial banking with HSBC Isle of Man who declares: “Our aim is to enable businesses to thrive and the economy to prosper.�

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ON THE AGENDA...

CONNECTING BUSINESSES

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entrepreneurs - isle of man

Words by: Les Able Photos by: Matt Mosur

H

e adds: “The vast majority of our customers are local companies based here on the island who are not only innovating but spear-heading in their respective sectors, a factor not always recognised and seen to be happening by some outside the island.”

Jaime, who took up his current position with HSBC a year ago goes on: “Not only is this a beautiful and safe island with a great community spirit, it also has a high dynamism factor.”

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ON THE AGENDA...

“We want to put the customer at the centre of what we do”

“Our priority here in the Isle of Man is to enable its businesses to thrive and prosper”

All this from a man with a truly international background in banking and prior to that a key role in industry with a multi-national construction company, and its concessions all round the world.

“I was living on planes as the customers I was supporting had large contracts globally, but the job also linked with my desire to travel and see other countries,” explains Jaime, who was born in Madrid , Spain, 49 years ago.

His lust for travel started when as a nine-year-old his parents decided that the youngest of his five children should benefit from another culture and with it learn to speak English. For the next five years Jaime was sent to summer schools CONNECTING BUSINESSES

in the UK but then at 15 he was sent to school in America for a year followed by the University of Michigan, leaving with a degree in economics. “It’s also where I got to learn to play baseball,” he proudly confesses.

Jaime recalls how his father, a doctor, was less than impressed when he learned that his youngest son was going into banking and not becoming a doctor as well, one of his brothers was a lawyer and the other a doctor; on his mother’s side both his grandfather and great grandfather had both been doctors.

“It was a shock to him, but I wanted to do something different to my brothers and persuaded him that working for a bank was also a good way of helping and supporting people and businesses in the community.”

By then Jaime had returned to Spain and his first job in banking was with the Manufacturers’ Hanover Trust, he worked there for eight years until he opted for the global experience in industry. He then returned to banking, working for an Italian bank in Madrid, one of the four languages he speaks fluently is Italian.

“My wife, Raquel, can also speak four languages and when we met it was her similar connections on an international basis that attracted me as she had lived and worked in the UK, France and Italy,” says Jaime. They now have a daughter of 14 and a son of 12.

He was with the Italian bank for four years and then came the opportunity of a job with HSBC in Madrid, he was there for seven years and then was offered the opportunity to continue his international career with HSBC, which took him to Turkey for four years, then two years in Milan and now one year in the Isle of Man, living in Douglas with the whole family enjoying life in the island.

“I already knew a bit about the island as, aside of being an international business and financial centre, in Spain we are very much into motor sports and motor cycling so there is a big interest in the TT. From what we were told I was expecting the island to be very rural, green, rainy and cold and not very dynamic. How wrong all that was, so it was an incredible surprise when we arrived and discovered its astonishing nature and landscapes, its rich culture, its dynamism. As a walker every day I discover a different scenery, I have a map on my sitting room wall of footpaths and lanes. People are also so very welcoming.”

In looking back over his first 12 months with HSBC Isle of Man he is clearly proud of what has been achieved. “In commercial banking we now have an internationally diverse team with people from six

different nationalities which can speak 12 different languages, all this in less than a year. We want to put the customer at the centre of what we do as an international bank, connecting people and businesses globally. Taking into consideration our strong global footprint, we are able not only to help companies locally but also connect them with suppliers and customers all over the globe.

“All the necessary analyses that needs to be done in bringing a customer on board, eg due diligence, is now done locally. How does HSBC differ from other banks? We have a good understanding of our customers so we can support them and help them to grow. We pay much attention to understand our customer’s needs so we can help them better.”

He adds that from a technological perception, HSBC will be investing up to $17 billion by 2020 primarily in technology and growth. “The banking industry as a whole is undergoing an exciting transformation,” he declares.

“Our priority here in the Isle of Man is to enable its businesses to thrive and prosper, and continue promoting the island as a centre for doing business. For those who want to travel the world, eg to Asia, Australia, China, South Korea, HSBC offers fantastic opportunities to develop an international career.”

Despite HSBC’s fantastic global opportunities, there are local challenges: “One of the key issues we face, like many other islands, is that all too often students, when they finish school, go to the UK and beyond to further their skills and most don’t come back to the island. There is a crucial gap in talent between the ages of 17 and 28. The Isle of Man is competing for that talent not only with the UK but with the world. If the island is to attract the talent it needs it must continue working to have a better offering in what is here in the island for them and their children.”

He adds: “Here in the Isle of Man we want to continue growing, we are investing in a new Commercial Banking Centre early next year and the Douglas branch will also benefit from a refurbishment.

We hope these demonstrate HSBC’s commitment to the island. We’re proud to be here in the Isle of Man, helping support the community, people and businesses to thrive.”

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brand voice - KPMG isle of man

Managing

bribery

risk 18

ON THE AGENDA...

David Watterson, Senior Manager at KPMG Isle of Man, reflects on UK and Isle of Man Anti-Bribery legislation and what businesses should be doing to ensure they are abiding by the rules.

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hile Anti-Money Laundering (“AML�) remains an important focus area for businesses in many sectors, the introduction of tough new legislation in 2013 and greater enforcement activity globally in respect of bribery and corruption have created a strong incentive for companies to carefully consider and, where appropriate, take specific measures to mitigate bribery risks.

CONNECTING BUSINESSES

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brand voice - KPMG isle of man

Paying bribes was once considered an inevitable cost of doing business in some jurisdictions and sectors. However, the international community has increasingly sought to challenge that position. Conventions introduced by the Organisation for Economic Co-operation and Development (OECD) in 1997 and the UN in 2003 have led many countries to bolster their anti-corruption legislation and (in some cases) step up enforcement action. The UK Bribery Act 2010 (UKBA), which was substantially mirrored by the Isle of Man in 2013, implemented the legislative requirements of the UN Convention Against Corruption. The Acts cover bribery of public officials and bribery between private entities. In both cases, the Acts capture bribery whether undertaken directly or via intermediaries and they also introduce a corporate offence of failing to prevent bribery. Although enforcement was slow to start, the UK’s Serious Fraud Office has now prosecuted or settled several cases and has around a dozen open investigations.

Even where domestic enforcement against bribery is limited, companies should not be complacent. Countries that

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“we found weaknesses in firms’ anti-bribery and corruption framework[s]” “they must ensure they manage and mitigate all their financial crime risks at all times” Source: UK Financial Conduct Authority

ON THE AGENDA...

are active in enforcement have proven themselves very willing to pursue claims against foreign companies, with the United States being perhaps the most notable.

Its Foreign Corrupt Practices Act (FCPA) was introduced in 1977, but enforcement was stepped up in the early 2000s. Since then, the US Department of Justice has frequently brought actions under the FCPA against foreign companies and individuals, even where a limited connection to the US exists. The UK’s Rolls-Royce, France’s Alstom, Germany’s Siemens and Israel’s Teva Pharmaceuticals are among those to have faced significant penalties and disgorgements of profits in recent years. Indeed, of the ten largest ever settlements under the FCPA, only two are with US-based companies.

It has also been a trend in recent years to see greater collaboration and coordination between jurisdictions on anti-bribery investigations, with the wellpublicised Rolls-Royce case involving extensive cooperation between the UK and the US. Furthermore, a particularly relevant feature of UKBA to the Isle of Man is that British citizens can be pursued under UKBA regardless of where an offence is committed. A similar principle applies to US citizens under the FCPA, albeit only where bribery involves foreign public officials.

Another important feature of the UK and Isle of Man Bribery Acts is that, by taking steps to prevent bribery, an organisation can build an ‘adequate procedures’ defence to corporate charges should a rogue employee or third party intermediary engage in bribery on the company’s behalf in spite of those steps. This possibility prompted the development of a new British standard for anti-bribery management systems, which has since formed the basis for an international standard (ISO 37001).

Microsoft and Wal-Mart are among the big names who have announced their intention to pursue certification.

Even for organisations that choose not to seek certification, the standard offers a framework for building and maintaining an anti-bribery management system that is likely to afford the organisation the ‘adequate procedures’ defence and may assist an organisation in demonstrating effective anti-bribery measures should it find itself facing enforcement from elsewhere. For example, the US Department of Justice will take an organisation’s compliance environment into account as a factor in deciding whether or not to pursue a case and in setting the values of penalties.

It is evident that not all companies are taking advantage of the ‘adequate procedures’ opportunity. In its most recent annual report on AML, the UK’s Financial Conduct Authority noted improvements in AML controls at the firms it reviewed, CONNECTING BUSINESSES

but highlighted that “we found weaknesses in firms’ anti-bribery and corruption framework[s]” and reminded firms that “they must ensure they manage and mitigate all their financial crime risks at all times”.

So what are ‘adequate procedures’ under the UK and Isle of Man Bribery Acts? The short answer is ‘it depends on the organisation’. Official guidance published in support of the Acts is not prescriptive, but includes six key principles: n Introduction of proportionate procedures which take into account the organisation’s risk profile. What may be appropriate for a small retailer operating from a single site within a lower-risk jurisdiction might not be appropriate for a large bank with counterparties and intermediaries spanning multiple jurisdictions, including higher-risk jurisdictions. n The need for top-level commitment from management to the prevention of bribery by or on behalf of the organisation. n The need to conduct a risk assessment of the organisation’s exposure to bribery risk. n The need to conduct due diligence measures proportionate to the risk profile of the organisation and the types of individuals and entities it engages with. n The need for communication of policies and procedures relevant to bribery prevention throughout the organisation and to counterparties and intermediaries, as appropriate. This may include training. n The need to monitor and review the effectiveness and applicability of the procedures as circumstances change and, where appropriate, to make improvements.

Whether bribery risks are addressed separately or as part of a broader risk management system, professional advisors can support in the design or review of policies and procedures or in delivering elements of the system.

David Watterson Senior Manager at KPMG Isle of Man To discuss your anti-bribery strategy call KPMG on 01624 681000 or visit kpmg.co.im.

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Feature - superyachts

Isle of Man Flag Flown High at SuperYacht Forum Event in Monaco Now that the waves have settled and as the main charter season comes to an end, one might say it is the perfect time to reflect on this year’s Monaco Yacht Show.

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O

nce again the Isle of Man was well represented at this year’s show but the Isle of Man flag flew ever higher with the Isle of Man SuperYacht Forum hosting an extremely well attended presentation and networking reception.

The event was held at the prestigious Metropole Hotel and was attended by over eighty delegates including some of the most influential companies and ON THE AGENDA...

individuals within the superyacht industry.

The wide range of delegates included captains, lawyers, insurers, family offices, management companies, brokers, surveyors, technical specialists, security and cyber specialists and registries.

The event was suitably named ‘A Superyacht in Crisis’, the theme for which focused on a fictitious scenario about a superyacht, ‘M/Y Solarflare’, which was owned by a billionaire IT magnate.

With celebrities on board, the yacht collided with another yacht in a marina after an unscheduled engine shutdown.

This resulted in the holing of the vessel, leading to a large amount of oil leaking into the marina. In an attempt to prevent the collision a crew member was seriously injured and another crew member was tested and found to be under the influence of alcohol. It was also suspected that there was a drink and drugs culture with the crew and possibly the guests. The scenario formed the basis of the ensuing panel and audience discussions.

The event commenced with Mike Dean, Chairman of the Isle of Man SuperYacht Forum, giving the history of the Forum, the extensive involvement of the Isle of Man in the superyacht industry and the outline of the day’s schedule.

To set the scene, Pat Adamson and his team from media response specialists, MTI Network, presented a video of the scenario as if it was being reported by the news networks, demonstrating how a situation can quickly spiral out of control if those involved and responsible do not understand how to deal with modern day media - particularly with the involvement of a newsworthy owner and his guests together with speculation that drink and drugs may have contributed to the accident.

Delegates were given a tutorial on how to handle the media, including social media, in this type of scenario before, to their surprise, being involved in a media ambush. The ambush both demonstrated and highlighted the types of problems which can arise with little or no understanding of how to handle the press in such scenarios. The MTI team posed as reporters with microphones and cameras putting interviewees under considerable pressure to answer questions about the incident.

The event was chaired by Ken Hickling of Inserve Yachts, former President of the International Superyacht Society and Executive Committee Member of Superyacht UK, who introduced a panel of industry specialists. The panel included four Forum members, who discussed the incident and how it should be handled by all those involved from the Captain to the Crew, to the management company, the lawyers, insurers, Flag State and any emergency response organisations. There followed a lively and informative one and CONNECTING BUSINESSES

a half hour interactive discussion between the panel and audience.

MTI had highlighted the growing influence and invasiveness of the media, especially social media, as well as the growing problem of hacking.

This led onto a session on Cyber Security headed by three specialists from the Forum; Ian Comish, Riela Cyber Security Centre; Bryan Beesley, KPMG and Ben Hextall, OceanWeb; who discussed and emphasised the dangers and possible preventative solutions.

The final presentation was on Brexit, fronted by Paul Cawley of KPMG, who looked at how the Isle of Man and the superyacht industry might be affected.

The event closed with a drinks and canapés networking reception in the Salon Mediterranee where all delegates were invited to visit the Isle of Man stand over the following four days of the Yacht Show.

Commenting on the event, Dick Welsh, Director of the Isle of Man Ship Registry, said: ‘This was a great turnout and tremendous exposure for the Island and its involvement in the superyacht industry.’

Ken Hickling added: The invitees list was fabulous, the panellists and attendees were knowledgeable and participated well.

The programme’s focus was interesting and engaging and the additional topics broadened the scope nicely.’

Mike Dean concluded: ‘The event ran extremely well with interesting, engaging and topical subjects not usually covered in superyacht seminars. We designed and organised it to be interactive and succeeded in this objective. We have received many positive comments from the delegates and we look forward to organising our next ground breaking event in the near future.’

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Feature - Superyachts - Marine Technology

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Luxury asset managers, Adamson Middleton, partner with Marine Technology specialists providing global yacht connectivity ON THE AGENDA...

In June 2017, a global cyberattack, nicknamed Petya, targeted various international industries, but the Trojan horse virus also heavily infected the maritime industry.

With cybercrime prevention in increasing demand, threats have continued to grow.

A

t first, it appeared as a harmless software application used in connection with the Ukrainian government, yet it became one of the most notable global cyberattacks in history. It used payloads that infected computers’ Master Boot Record (MBR), overriding the Windows bootloader, subsequently triggering a reboot which asked for a payment in Bitcoin to end the attack.

As a consequence, multinational companies were affected; British advertising and law firms, American hospital operators, Russian oil companies, among some to mention. Alarmingly, it also caused the radiation monitoring system at Chernobyl to fail. It marked international collaboration between governments in combatting cyberattacks, but Petya’s notable difference marked it as the next generation in malware technology. More than a year on, the maritime industry is in dire need of advanced security protocols to brace against the force of developing threats.

At Adamson Middleton, the team found their clients looking for a complete package, from yacht management to security, connectivity, and online and on-board support. As such, in the lead up to the Monaco Yacht Show 2018, they introduced their new brand; Adamson Middleton Marine Technology, or AM Marine Tech for short. The Marine Technology specialists provide global internet connectivity, entertainment packages, and security solutions for marine clients by teaming up with industry leaders.

The technical specialists at AM Marine Tech have highlighted the need for consolidated connectivity solutions, providing internet services with access to the best entertainment and security solutions. The Internet of Things (IoT) offers the availability of interconnected items, but better connected devices present the difficulty of protecting the entire system. IoT devices have moved from the workspace into our homes, and hackers no longer need to specifically target multiple devices, preferring instead to target one individually weak and vulnerable device. The security issues IoT has raised have not gone unnoticed, and cyber criminals attack without discrimination of person or device.

Steve Debnam, Technical Solutions Expert at AM Marine Tech, said “Take a moment to think about the saved passwords and personal data you have CONNECTING BUSINESSES

“Any device used by the crew or guests while on board has the potential to be a threat, and the moment any device is brought on-board, or there is potential for a device to connect to your network, they can breach the security of the vessel.”

stored on your mobiles, tablets, laptops and computers. It will not take long for you to unveil the devastating pattern that modern hackers are experts at discovering! Now, ask yourself, what security do I have that fully protects all of my devices?”

Hackers look for easy access to devices lacking security, and the average user is more likely to breach your system accidently. There are two systems which perfectly secure backdoor security, alongside Antivirus and Firewalls; Mobile Device Management commonly called MDM, and Live System Monitoring.

According to AM Marine Tech’s leading experts, these are essential aspects for any connected environment, especially within the yachting industry.

Mr Debnam added “Any device used by the crew or guests while on board has the potential to be a threat, and the moment any device is brought on-board, or there is potential for a device to connect to your network, they can breach the security of the vessel.”

MDM secures mobile devices, preventing criminals breaching more vulnerable devices, keeping owners, Captains and crew management in control. They are used to monitor, manage and secure mobile devices that can be used across various networks, securing emails, documents, browsers and app catalogues, among all other on-board devices. It’s proved particularly useful for interconnected environments, and the yachting industry is fortunate to have internet solutions granting each vessel with its own network and servers, yet this makes it more vulnerable to cyber-crimes.

Live System Monitoring is essential to yacht security. Anyone using your network can become a potential security breach, but as these monitoring systems keep track of system resources and network usage on-board vessels, it provides a protocol to manage which devices are being used on-board, and what is being accessed on your network.

Disgruntled former employees, incoming guests, and crew manning the vessel may all carry devices which are potentially damaging, because they have the option to connect to your network. The network does not necessarily know the device is vulnerable, so alternatives such as MDM and Live System Monitoring offer yacht owners and Captains security protocols to protect against potential infections, although there are no guarantees, as any device is potentially vulnerable.

With cases of hackers infiltrating vessel and turning them off course, and other of both personal and professional data being removed or stolen, the threat to the marine industry is still very much present. The introduction of MDM and Live System Monitoring has allowed companies such as Adamson Middleton to protect the yachting industry from threats of this magnitude, and endeavours with Marine Technology specialists have allowed them to provide protocols to support and protect vessels.

Cybersecurity has become a growing issue for business and leisurely environments alike, and the yachting industry has also felt the brunt of vulnerable security systems, but solutions provided by AM Marine Tech can combat the growing threats, which will ultimately ensure vessels are given the correct level of protection.

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feature - Equiom Isle of Man - state of yachting

A new era for the Isle of Man and

super yachts 26

ON THE AGENDA...

As we say goodbye to yet another yachting season, Steve Cain, Director at Equiom, reflects on the state of the sector and why the Isle of Man will prevail as a leading jurisdiction for yacht ownership and registration.

T

Words by: Steve Cain, Director at Equiom

he Isle of Man as the hub of the superyacht world has its benefits not only for the wealthy who take advantage of our services, but also for the local residents who benefit from its valuable contribution to the Island’s economy.

Isle of Man service providers consist of a range of technical experts in the various aspects of owning and operating a yacht, offering clients a wide range of corporate and financial services. We have local insurers, crew recruitment and crew employment companies. Our Ship Registry provides world-class registration services and our lawyers assist with the vessel purchase and any financial aspects required.

CONNECTING BUSINESSES

The Isle of Man’s prestigious status has not been without its challenges however, and there are a number of considerations that could potentially bring this status under threat.

Remaining competitive There is no EU VAT and Customs harmony and each country applies different measures to attract yacht owners.

Even Spain, after decades of driving yacht owners away from its shores, has opened its doors with a ‘new’ interpretation of long-standing EU legislation. This means that, at any given time, competing jurisdictions may introduce measures that give them the advantage.

Closer to home, the UK is free to introduce restrictions on the sector that

could impact on our competitiveness. This happened in 2012 when Her Majesty’s Revenue and Customs (HMRC) confirmed its requirement that VAT recovery is only allowed for goods purchased that physically arrive in the UK and/or Isle of Man. This has put a damper on the Isle of Man’s status as a VAT jurisdiction for yachts as it is commercially impractical for goods to be purchased, for example in Italy, and then be transported to the UK before onward supply to the yacht based in Croatia. Nearly all other EU Member States do not apply such requirements which gives them a clear advantage over the Isle of Man and UK for VAT registration.

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feature - Equiom Isle of Man - state of yachting Managing outside influences In addition to the backlash the industry encountered in the wake of the ‘Paradise Papers’ leak, we are also dealing with further uncertainty over what may happen post-Brexit. With regard to competing jurisdictions, the market has historically been dominated by places like the British Virgin Islands (BVI), Cayman Islands and Marshall Islands. However, the UK Ship Registry could equally become a rival for this business when it leaves the EU. With all of these challenges come opportunities and I believe the Isle of Man is in a great position to maintain its status as a leading jurisdiction for yacht registration. Here’s why: With Brexit comes opportunities Despite its challenges, it is clear that Brexit creates an exciting new era for yachting in the Isle of Man. Certain VAT relief measures that are in place could serve to benefit us when the UK leaves the EU. For example, a privately registered yacht with a non-EU owner can be imported into the EU under the Temporary Admission regime in Europe, allowing 18 months of operation in EU waters without having to pay VAT. It’s a process which can be renewed every 18 months up to a maximum period of 10 years. This type of relief will be a clear advantage if it continues post-Brexit.

The Isle of Man Ship Registry is second to none The quality of service from the Isle of Man Ship Registry remains unrivalled which has led to it being voted the Best Shipping Registry 2019 by World Commerce Review. This review takes into account product innovation, ongoing customer support and best practice criteria, as well as a continuing commitment to deploying the best possible solutions for the benefit of their clients.

An excellent choice of Flag The choice of flag state should be considered one of the most important decisions in yacht ownership. The benefits of registering a vessel under a recognised quality flag state are clear. It will affect the regulations the owner and vessel

are subject to including construction, inspection, regulatory compliance regimes and, of course, taxation and liability protections.

The Isle of Man Flag is part of the Red Ensign Group which uses the UK’s Maritime & Coastguard Agency (MCA) regulations for construction, safety and employment, which has a positive impact on maritime security for the yacht, owners, guests and crew. In addition, it protects the ethical welfare of mariners, the marine environment and resale value of the vessel, due to the ensured high standards of maintenance and quality.

There is a fantastic story to be told,

but it has to start on our own door step and it needs our Island community to believe and support what is being done and then convey the message to the rest of the world. Structuring the ownership and registration of yachts on the Isle of Man is a story of high standards, increased safety, crew welfare, and a positive impact on the hardworking people based on the Island.

Quocunque Jeceris Stabit!

This article has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The article cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact Equiom to discuss these matters in the context of your particular circumstance. Equiom Group, its partners, employees and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this article or for any decision based on it.

www.equiomgroup.com

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ON THE AGENDA...

Opinion - IoM executive agencies

FOUR EXECUTIVE AGENCIES MEAN BUSINESS I Words by: Les Able Photography by: Liam Gilman

www.businessisleofman.com www.digitalisleofman.com www.financeisleofman.com www.visitisleofman.com

CONNECTING BUSINESSES

deas and solutions to contribute to long-term, sustainable growth for the Isle of Man are the key factors over the next two years for the four newly formed Department for Enterprise executive agencies.

“The agencies are a public/private partnership,” emphasises Ranald Caldwell, Chair of the Visit Isle of Man agency.

The other non-executive chairs are Aidan Doherty, Finance Isle of Man; Lydia Barbara, Digital Isle of Man; and Stephen Bradley MBE, Business Isle of Man. All have been appointed on a parttime basis to chair the Department’s four executive agency Boards, which are predominantly made up of private sector members. Each appointment is for a limited minimum term of two years with the possibility of a further two year extension.

The Boards have delegated powers enabling them to ‘leverage private sector expertise and knowledge and create a partnership approach to product development, policy input and promotion’.

“For me the priority is to protect and grow the financial sector and promote the island internationally as a location of choice for doing business,” says Finance Chair, Aidan Doherty.

Lydia Barbara emphasises that she doesn’t come from government, but from industry. “What I have been doing is understanding the lie of the land and focusing on projects and concepts that could bring the greatest benefit to the island.”

Stephen Bradley MBE is unequivocal in his stance. “We have got to have an economy that is viable,” he declares, while highlighting the fact that government and private sector will be “stepping together” with a view to ensuring that all initiatives go through more smoothly.

In a Question and Answer session Agenda has been given the opportunity to quiz all four Chairs on what they want to achieve and their answers make for interesting reading. >>>

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Opinion - IoM executive agencies You are expected to provide effective leadership and strategic direction, forming a cohesive and focused board. Can you briefly outline your stance on this?

The Finance Board is made up of a diverse mixture of members from the finance industry, including representatives from banking, insurance, fiduciary and pensions etc. My role so far has been to encourage Board members to identify any issues, hurdles, new ideas etc... as they affect their individual sectors, and, where appropriate, make recommendations for change.

The input and feedback have been tremendous from what is a very focused Board, which has the overriding aim of developing and promoting the island as an international financial centre. From here we aim to devise a strategic plan, which incorporates the Agency’s vision and come up with proposals to enable the island to compete in an ever more competitive world, making sure that proposals are for the betterment of the island as a whole.

Long term sustainable economic growth – where are your priorities?

The Agency’s priority is to protect and support the growth of the financial sector and promote the island internationally as a preferred centre for doing business.

In promoting growth, we need to ensure we have the talent to support that growth.

Any policy needs to encompass how we deal with the retention of young Manx people here, training and educating them locally; it also means we need to ensure that the Isle of Man is attractive enough to bring back those who have gone overseas for university or further education and also ensure it is an island attractive enough to bring in new talent.

It is imperative that both the private sector and government collaboratively devise an education system that retains and develops expertise. Businesses in the financial sector are expanding and so far have been successful in developing talent locally, while recent changes in the Work Permit system introduced by the Government have helped to attract new talent to the island as well.

AIDAN DOHERTY

Chair of Finance Isle of Man, has been in the finance industry since 1977 and lived on the island since 1984.

What do you consider to be the opportunities and the risks that might face the sector?

Threats come from numerous directions targeting the Isle of Man and other international finance centres. In my opinion we are right to continue to engage with these bodies and agencies to make them aware we are a very well regulated and governed business centre staking its rightful place in the world economy. As regards to opportunities there are many.

One of the major unknowns for the Isle of Man is of course Brexit and as an Agency we have been trying to understand some of the issues that may develop and look for potential opportunities, believing there may be some; equally, we are reaching out to understand what our local and international clients, advisors and introducers need from the Isle of Man’s finance industry to ensure we have the products and services to enable them to use us as a preferred offshore location in the future.

For more information on the Finance Isle of Man Agency, visit: www.financeisleofman.com

Is private sector funding a major priority?

In my opinion, yes I believe so. It reinforces financial sector commitment to their own projects such as a new initiative which has just launched, which involves a major international promotion of the life insurance industry. Significantly, the costs for this initiative, which are substantial, are being shared by both government and industry which is a clear demonstration that private sector funding is available and, importantly, that public/private partnership does work here on the Isle of Man.

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ON THE AGENDA...

You are expected to provide leadership and strategic direction, forming a cohesive and focused board.What is your stance on this?

What is crucial are strategic directions and the leadership to make things happen along with the recruitment of the right people at board level. I’m delighted we have been able to encourage a diverse and talented set of individuals to lead the ‘visitor economy’, coupled with a shared vision to be one of the best visitor destinations in the British Isles.

The Agency is a private/public partnership which encourages visit sector experts to lead improvements, encouraging innovation, investment and seeking policy change where appropriate.

What is also important is stakeholder/ partnership with the trade, distribution channels and other Government departments – working together with a ‘destination first’ approach, including the other three agencies. Lastly, a sprinkling of drive, enthusiasm and passion to make it all happen and the Agency to deliver the results.

How is the island positioning itself as a visitor destination, and in which markets do you see the opportunities and potential for growth? What initiatives might be taken to help encourage and fulfil this potential?

Quite rightly we have been positioning ourselves as a place that offers a wide range of adventure and leisure activities through our Extraordinary Story campaign, which was launched in May and will run for three years. In terms of markets there are four main short-term opportunities: To drive further value from existing sporting/adventure events, for example: The Parish Walk, encouraging more nonisland participants and also more visitors to take on the challenge of the Raad ny Follian (similar to the West Highland Way, which is roughly the same distance and attracts 85,000 people a year).

To encourage more packaged events, such as golf/walks/cycling/railway enthusiasts.

In terms of extending the traditional season, we are currently reviewing our promotion and products, which may include a competitive package offering.

A real measurement of customer service, along with better traffic management.

RANALD CALDWELL

Chair of Visit Isle of Man, has worked in international finance for 35 years. An enthusiastic ‘outdoors man’ who believes the Isle of Man should become a walking alternative to the Lake District. centres. After all we are not considered a ‘main’ holiday destination, other than for maybe motorsport fans. While we continue to target the ‘work hard, play hard’ segment, there is a significant segment in the UK who are seeking adventure and the great outdoors, as well as targeting the active family sector.

We also have great assets in culture and heritage.

What can the Isle of Man offer younger people and families?

A safe and secure environment, rich in history, the only nation to have Biosphere status with a fabulous outdoor, adventure, mythical, cultural and friendly playground.

What are the key challenges which could inhibit growth in the sector and how do you see the Visit Board addressing these?

Transport links are viewed as the key consideration and we as a Board are having input into both the sea and air strategies which are being formulated.

Brexit may have an impact both positively or negatively. An overarching focus and responsibility of the Board is to be the voice of the customer/industry with sight of market intelligence.

For more information on the Visit Isle of Man Agency, visit: www.visitisleofman.com

Around half the visitors to the island are aged over 50. Do you think this is a reflection of what the island has to offer visitors?

We have much to offer all types of visitor, but our messaging and reach will improve. The age profile is probably typical of many leisure, activity break CONNECTING BUSINESSES

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Opinion - IoM executive agencies You are expected to provide effective leadership and strategic direction, forming a cohesive and focused Board. What is your stance on this?

Collaboration and cohesiveness are our greatest opportunities and challenges, not just for the Board and the Department for Enterprise, but the Government as a whole.

The Board is composed of very intelligent and excellent people and after just four meetings it is apparent that there are enough different perspectives from them to capture what the island’s opportunities are from the digital space.

The aim is to establish the island as a centre of international excellence for the digital economy. In your first year what will you be doing to bring this about and what do you consider to be a priority?

The remit is extraordinarily broad when we talk about the future and how we live and work. Everything we do now is enabled by technology, so in order to apply focus we need to establish what we are naturally good at and where there are gaps in other jurisdictions’ offerings and exploit these opportunities.

LYDIA BARBARA

Chair of Digital Isle of Man, has a “lifelong love and passion” for technology.

I have my own technology start-up and from that I have an understanding of just how difficult it can be to start and build a company on the island. This prompted my application for the position: I’ve seen from the outside the problems that can be faced and I would like to be part of the solutions for other businesses.

For more information on the Digital Isle of Man Agency, visit: www.digitalisleofman.com

As far as your own background is concerned have you had any involvement/experience of the industry?

I’ve a lifelong love of technology, perhaps something of a passion, which I am carrying into my new role. I have been working in e-gaming for 15 years and a job with Microgaming brought me to the island nine years ago. I’m head of innovation strategy at Microgaming, where my focus is turning concepts into products.

I have a deep interest in the ethics of new technologies and the use of personal data, which in large part is driven from a scepticism of the idea that all new things are positive. I think technology can and should be used for the betterment of society and the world. I’m also very interested in education around technology.

I volunteer frequently with Code Club and I am involved with a group of local business women called Love Tech which offers innovative learning experiences for women of all ages.

What do you see as the immediate challenge, not just for yourself, but the industry as a whole?

A large challenge for the digital agency, which looks after that part of the economy that is the fastest growing and moving, is trying to put structures in place which are robust and agile at the same time. When it comes to new technologies we need to be responsive and flexible but also open minded and focused on figuring out what is best for the island and its communities.

In addition to my work at Microgaming,

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ON THE AGENDA...

You are expected to provide effective leadership and strategic direction, forming a cohesive and focused Board. Can you briefly outline your stance on this?

I have a reputation of being a good communicator with a passion for new projects and ideas. I have worked in a number of businesses and sectors and still do, taking on this challenge is about giving something back and ensuring we have an investable framework. I have focused on bringing together a great bunch of enthusiastic people who have new ideas, want to see economic growth and the island prosper.

STEPHEN BRADLEY MBE

Chair of Business Isle of Man, warns “we have got to have an economy that is viable”.

Stephen’s first job was as a Saturday boy at Marks & Spencer.

Which sectors do you see at this early stage as having potential, but are in need of promotion and development to grow?

I think I would give a political answer and say at the moment all sectors have got opportunities and threats.The business agency, however, covers a much broader spectrum of sectors and what the agency structure gives us is the opportunity for the private sector and government to step closer together and collaborate to see economic growth with the removal of barriers to business and exploitation of opportunities.

I think some of the issues are old chestnuts and have been around for a long time but there is an imperative now to see economic growth. The key issues that have emerged so far are not new; they are the shortage of skilled workers and growing the working population. What we will be looking for is clear outputs; the in-vogue phrase is the dashboard of the agency which identifies pointers of success and economic growth. What the private sector brings is a focus on key performance indicators. We have to remember that we are part of a working, successful economy - the Isle of Man has made great strides over the last 30 years.

There has always been uncertainty, but now, with what is happening in the EU, we have uncertainty in bucket loads.

What are the key challenges the ‘domestic’ sectors face in helping make the island a vibrant and prosperous place to live?

We have got to have an economy that is viable. I think the expectation of our resident population is ever increasing, when we are compared with the UK, they are looking for more.

For more information on the Business Isle of Man Agency, visit: www.businessisleofman.com

CONNECTING BUSINESSES

33

opinion - empowering women

The business Y of empowering

women

The empowerment of women in the workplace is a no brainer for industry.

From boosting profitability to driving innovation, the benefits of increased female participation and leadership in business are well documented. Only this month, Justice Secretary David Gauke called for more progress to be made in relation to gender equality, suggesting that achieving gender parity could add £150 billion to the British economy by 2025.

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et, the hotbed of noise and buzz that is gender equality in the workplace has not led to significant or meaningful changes in the industry make-up in the past two decades: women continue to be underrepresented at all levels of senior management, from entrylevel management roles to the coveted C-Suite. For women of colour, the disparity is even starker. Only one in five senior leaders is a woman, and one in twenty-five is a woman of colour (McKenzie & Co, Women in the Workplace (2018)). The research tells a tale of women hitting the glass ceiling early, being pessimistic about reaching the top of their profession and not feeling recognised for their efforts.

The landscape in the political sphere is equally gloomy: of 193 heads of state, there are only 15 female world leaders currently in office, eight of whom are their country’s first woman in power.

In an era where gender parity is on every politician’s lips, why then, one might ask, the lack of progress?

The primary reason for the gender gap is generally cited as being a disparity in the education of men and women.

However, in the context of the United Kingdom, where female graduates have consistently outnumbered their male counterparts since 1994 in respect of first degrees and have matched their male counterparts on second degrees since 2012 (Bolton, 2017), education may not be as critical a factor in our isles as it is globally.

Beside learning and education, the next two barriers to female progression in the business arena are said to be a lack of selfbelief and the presence of socio-cultural restrictions (2017 Mastercard Index of Women Entrepreneurs).

Research has found that whilst men will

ON THE AGENDA...

attribute their success to internal qualities (“I am able”), women generally attribute their achievements to external factors (“I got lucky/worked hard/got help”).

Further, men will rate themselves a little higher than their objective rating, whereas the women under-grade themselves substantially (Claunce and Imes, 2006).

How do these beliefs then influence behaviour?

A recent case study at Hewlett Packard found that men will tend to apply for a job or a promotion when they meet 60% of the hiring criteria, whereas women wait until they meet 95% of the criteria. The hindering factor in women not securing the same opportunities is not their ability but rather lack of self-belief.

This confidence gap (or imposter syndrome as it is sometimes called) has an equally disastrous effect on women’s ability to negotiate for themselves.

Indeed, how do you sell something you do not believe in? The figures suggest you simply don’t. A study in in 2010 of people entering the workforce out of higher education found that 57% of men entering were negotiating their first salary, compared with only 7% of women (Babcock/Laschever, 2012).

You might say that these issues are readily overcome – women need to challenge their “inner critic” and own their success rather than apologise for it. However, matters are complicated somewhat by a further factor deeply rooted in the human psyche and it’s this: Success and likeability are positively correlated in men and negatively correlated in women (Flynn, The Case of Heidi Roizen (2000)). This inherent gender bias means that success for women comes at a cost: likeability. Bearing in mind that love/ belonging needs come right after safety and physiological needs on Maslow’s

hierarchy of needs, this is no small price to pay and many women will shy away from success for that very reason. In the context of interviews, faced with two individuals of the same calibre, an interviewer is likely to choose the more likeable character, which because of the gender bias, is most probably going to be the male candidate.

Historically, the studies have placed the onus on women themselves to overcome these internal barriers. It goes without saying that self-development has a place: there is undoubtedly a lot to be gained from exploring whether the value we attribute to ourselves as women is evidence-based, or whether we are succumbing to limiting beliefs. However, the latest research suggests this is not enough.

More recently, the discussion has veered away from a shift in mentality on the part of women to a concerted effort on the part of organisations in nurturing a culture in which such a shift of mentality can take place. Groups and digital communities like LeanIn.org (the brain child of Sheryl Sandberg, Facebook’s COO) are at the forefront of this movement.

McKenzie & Co’s latest report (Women in the Workplace, 2018) suggests that gender diversity needs to be made the business priority it is. Organisations need to set goals/targets in relation to gender representations, measure progress, and managers/leaders need to be held accountable for driving policy on this front. Current figures suggest that whilst 96% of companies track gender representation, only 48% actually set representation targets. Accountability statistics paint a depressing picture to say the least, and senior leaders are largely not required by their organisations to be champions for gender diversity. Mentoring programmes and support groups, which are at the core of female advancement in

For further reading, see www.LeanIn.org. If you are interested in getting involved in contributing to an Isle of Man Lean In circle, please contact Chiva Samani (chiva.samani@athenalaw.im)

CONNECTING BUSINESSES

the workplace, are an exception rather than the rule.

The report also indicates that more effort needs to be directed towards making hiring and promotion processes fair, making more use of automated CV screening tools and ensuring that interviewing panels, and those involve in performance reviews are trained to recognise and push back against gender bias: currently, only 4% of organisations provide this type of training. Finally, outcomes need to be tracked, not only in terms of hiring, but also in the remit of performance reviews.

The message from McKenzie & Co’s latest research is clear - until significant action is taken by companies to drive gender diversity policies, little change is likely to be observed. The focus for corporate entities needs to move from good intentions to concrete action.

Words by: Chiva Samani Ranked as “Next Generation Lawyer” with Legal 500 and “Up and Coming” with Chambers UK in Dispute Resolution, Chiva is the owner and a specialist litigation advocate at Athena Law with a focus on complex and high value commercial and trust disputes, asset tracing and recovery, and claims against directors and trustees for breaches of duty. She acts from time to time in large scale insolvencies and advises liquidators on their powers. She also has a keen interest in two emerging areas in which she is increasingly instructed, namely defending individuals in actions against them by regulatory authorities and proceedings under the Proceeds of Crime Act 2008.]

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technology - MT Clearsound

MT clearSound: The story behind global first mobile technology 36

I

n September, Manx Telecom launched MT clearSound, a global first in the field of mobile phone technology that can provide life-changing benefits for people with varying degrees of hearing loss, or anyone with normal hearing who wants to reap the benefits of a crisper, clearer mobile conversation. Available first exclusively to Manx Telecom Pay Monthly mobile customers – initially as a free, valueadded service – in the longer term it has the potential to change the lives of millions of people worldwide. In this feature we look at the journey which led to the development and launch of this ground-breaking product right here on the Isle of Man. ON THE AGENDA...

“How we communicate really defines us as humans, so being able to pick up a mobile phone and talk to your grandchild, or your mum or your dad, is a hugely personal thing.”

Those are the words of Matthew Turner, reflecting on how using a mobile phone to make voice calls has become an essential part of everyday life. However, for him and more than a billion people around the world who suffer some form of hearing loss, using a mobile to make or receive calls can at best be frustrating, and at worst impossible.

Matthew has had hearing loss since suffering a childhood illness. When mobile phones became part and parcel of everyday life Matthew quickly identified that there was a need to find a solution to give people like him full access to the technology.

In September this year Manx Telecom launched that product. MT clearSound links an online hearing assessment to your mobile phone. It means that for the first time you can really make your mobile call personal. In minutes you can build an individual profile that delivers clearer conversations tailored to how you hear different sounds. Seamless technology on the Manx Telecom mobile network applies your profile to your mobile immediately.

No special equipment is needed and MT clearSound works on any mobile phone.

The product is the result of years of tenacious commitment by Matthew, and its development illustrates how the Isle of Man serves as a test-bed for innovation.

Manx Telecom has enabled a great idea to become a potentially life-changing experience for people with hearing loss on the Island and, ultimately, worldwide.

The journey started in 2012

Geraldine Willman, one of the volunteers who took part in clinical trials of the technology behind MT clearSound.

Matthew Turner, Founder and Chief Executive of Goshawk Communications.

Emeritus Professor Brian Moore from the University of Cambridge, one of the world’s leading authorities on auditory perception.

Sally Shaw, Founder and Director of Ideas for Ears.

Stephen Griffiths, Head of Audiology at Noble’s Hospital.

when Matthew founded Goshawk Communications and assembled a team with a mission – to deliver enhanced audio/voice mobile phone services for people with hearing loss, as well as to those with normal hearing who also want to reap the benefits of a crisper, clearer mobile conversation.

Matthew contacted Emeritus Professor Brian Moore, at the University of Cambridge, who is one of the world’s leading authorities on auditory perception. Matthew says: “Thanks to Professor Moore’s knowledge and expertise we were able to generate the first algorithms to measure someone’s hearing loss over the telephone using a mobile network.”

Fast forward a few years and Goshawk launched technical and clinical trials. It had sought a modern mobile network and a supportive network operator, and Manx Telecom was perfectly placed to provide that. Its size meant it was easy for Matthew to reach decision-makers, and the world-class performance of Manx Telecom’s mobile network was an ideal fit.

Technical and clinical trials followed over several years with support from the Department of Health and Social Care’s Audiology Services team, the Manx Deaf Society, and Ideas for Ears which is a social enterprise that supports the development of products and services to better meet the needs of people with hearing loss.

The first trials proved the effectiveness of the technology. Geraldine Willman, from Ballasalla, volunteered to be a trialist – she suffered problems with her hearing since suffering a burst eardrum in the 1970s, and today uses hearing aids.

Using the Goshawk technology made a massive difference to her ability to hear conversations on a mobile phone more clearly. Geraldine said: “It just made it so much clearer – it really did. The nearest correlation would be putting glasses on – you put your glasses on and suddenly you can see wonderfully. It’s the same as that!”

In 2017 Manx Telecom established Vannin Ventures as its incubator for growth in innovative technology products and services. Vannin Ventures became the majority shareholder in a new Isle of Man company, Goshawk Communications Limited. The drive to turn Goshawk technology into a marketable product gathered pace, culminating in a final clinical trial in the summer of 2018.

MT clearSound was researched, trialled and developed on the Isle of Man. At its launch on September 19 this year, Professor Brian Mooredescribed the product as having ‘global significance’.

He added: “MT clearSound has the potential to dramatically improve mobile phone communication for the millions of hearing-impaired people who currently struggle to hold a telephone conversation.” A UK launch is planned for 2019 and global growth opportunities beckon.

To find out more about MT ClearSound – including how to register for the product – go to mt.im/clearsound

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technology - 5g

5G technology signals a strong future for small businesses and entrepreneurs With 5G mobile technology on the horizon our already digital, wireless societies are soon to become even more mobile. Mike Phillips, Sure’s chief executive in the Isle of Man, explores what 5G technology means for small businesses and how it will revolutionise not just the way we live, but also the way we work.

Words by: Mike Phillips, Chief Executive, Sure Isle of Man

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oday the Isle of Man is well served by fast mobile networks which in Sure’s case uses the latest 4G+ technology to deliver a download speed 38% faster than any other operator, as well as comparing favourably to the UK in terms of value for money.

This level of connectivity has already had a telling impact on the island’s economy, which hosts a flourishing digital sector. As an island we strive to be seen as leaders in emerging industries; and digital industries currently account for around 30% of the island’s economy. Of course digital also has a bigger impact, with the associated innovations benefitting the island’s wider business and social communities.

5G, the fifth generation of mobile technology, is the next step in the island’s digital journey and represents a revolution that will bring multi-gigabit speeds to everyone, everywhere. Sure believes that 5G’s transformational potential is best

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coined as ‘fibre in the air’. The leap from today’s fixed and mobile technology is significant; having multi-gigabit speeds available to everyone everywhere will mean that 5G is 20-40 times faster than the broadband most people use at home and work today.

Benefits for business 5G is the future of broadband enabling flexible, reliable and secure wireless networks to connect people constantly to an ultra-fast network whether we’re at home, at work or out and about. The Isle of Man is currently ranked 62nd for broadband speeds in the world but 5G will enable the island to be in the top tier of world-class jurisdictions. It also means no more digging up roads or physical cables, increasing the accessibility of the network.

For smaller businesses this is especially important. Entrepreneurs and start-ups often need the flexibility to work from various locations and in different settings; sometimes out of necessity, sometimes to benefit from specially designed environments and increased

collaboration. 5G will mean that no matter where these businesspeople want to work, they will have access to a fast and reliable network that will provide multi-gigabit speeds as standard.

Digital business enabler We’re expecting 5G to enable increasingly digital businesses to thrive in the Isle of Man. The future is going to be more connected than anything we’ve seen before and, more importantly, those connections are going to be ultrafast which will enable businesses with digital at their heart to set up and grow quickly and easily.

At Sure we’re passionate about the potential of 5G and how it could help the island’s economy continue to thrive in an increasingly digital future. ‘Fibre in the air’ will have significant benefits for individuals and large businesses but it is perhaps entrepreneurs and start-up businesses that will feel the greatest impact thanks to its flexibility.

An enhanced ability to work on-the-go, speedier connections and more devices online will all contribute to increased efficiency for businesses, greater possibilities for digital businesses and new opportunities for digital industries to grow and thrive.

We need to be ambitious in our aims and meaningful with our actions when it comes to our future economy and the advantages 5G could bring.

ON THE AGENDA...

technology - Cyber security event

CYBER SECURITY – RESPONSE AND RESILIENCE TO ATTACKS 29th November Barclays Eagle Lab, Victoria St, Douglas

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n conjunction with AML Consulting (Global) Limited and Expol Limited, Finance Isle of Man held two presentations on Cyber Security – Response and Resilience to Attacks, to raise awareness within industry to these increasingly critical and ever evolving issues and helped equip organisations with the knowledge required to respond effectively.

Presentation were by Gary Kibbey, AML Consulting (Global) Limited. Gary specialises in Combating Organised Crime (including online), Criminal Threat Assessment and Combating Cyber Crime.

The event focused on 4 of the most prevalent types of data breach which are: n Conventional data breach through employee misuse or a hacked database n Denial of Service attacks followed by ransom demands n Ransomware attacks and demands n Sextortion demands against individuals where access may have been made on corporate IT or where the demand is made through a corporate IT infrastructure www.financeisleofman.com

CONNECTING BUSINESSES

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iod-iom committee members

meet your institute of directors - isle of man IOd-iom committee members committee members

JENNIFER HOUGHTON

CHAIRMAN

DAWN WEBB TREASURER

PAM WATSON SECRETARY

(Dawn Webb Advisory Limited)

(Lloyds Bank International)

Institute of Directors - Isle of Man The Claremont 18-22 Loch Promenade Douglas Isle of Man IM1 2LX

Isle of Man Member Benefits QUICK LOOK

CLIVE PARRISH

DEB BYRON

CLAIRE MILNE

(CDP Associates)

(Hansard International)

(Appleby)

n Discounted entry to Rendezvous Lounge at the IOM Airport n Discounted VIP Business Travel and Airport Transfers with K&B Carriage n Discounts on Leisure and Business Travel with Richmond Travel and MannLink Travel n Discounts on selected training courses with TLC

JADE ZORAB

PHAEDRA BIRD

(SMP Partners)

(Crowe Clark Whitehill LLC)

PETER REID

(Lloyds Bank International)

Additional Benefits for all members

n Access to our local HQ

and Business Hub and locations throughout the UK

n IoD Car Rental, provided

by Hertz www.iod.com/ carrental www.iod.com/regions

SALLY BOLTON (Corlett Bolton & Co)

ALICE MARTIN

(Isle of Man Government)

MARK WATERHOUSE (Isle of Man Financial Services Authority)

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ON THE AGENDA...

Business Events Calendar - What’s on DECEMBER- february 2019 for delegates who attend multiple sessions.

Session 1: Practical Tips for becoming a NED 2019 Session 2: Top 5 Things Every Director Should Know Session 3: Step to the Top

IoD Isle of Man | Cyber Security Breakfast - The Board’s Responsibility LOCATION: The Claremont Hotel,

Douglas DATE: 24th January 2019 TIME: 7.45am - 9am PRICE: Members – FOC, Non members £10 per person We are delighted to invite you to attend our Cyber Security - “The Board’s Responsibility” Industry Expert Breakfast Briefing.

Cybersecurity is a principal risk for many Boards and security defences and monitoring has risen up the Board’s agenda following the implementation of the GDPR regulations and the associated fines. This breakfast briefing will focus on the Director’s role in ensuring that good cybersecurity practices are implemented and followed at all levels, from the Board down.

IoD Isle of Man | CPD Sessions with Jo Haigh

IoD Isle of Man | Dining Club with Dr Alex Allinson MHK LOCATION: The Claremont Hotel,

Douglas DATE: 28th February 2019 TIME: 19.30 PRICE: £40 per person

PRICE:

1 Session - Member Price: £75, Non Member Price: £150 2 Sessions - Member Price: £130, Non Member Price: £260 3 Sessions - Member Price: £150, Non Member price: £300 We are delighted to announce that we have brought three different key workshops together to run consecutively on 7th February 2019.

Delegates are invited to attend 1 session, 2 sessions or all 3 sessions with discounts CONNECTING BUSINESSES

Tickets go on sale in the new year – just when you need a pick me up to beat postChristmas holiday blues. Keep an eye on your inbox as this popular event sells out quickly.

With thanks to our event sponsors Newfield – a dynamic company focussed on international racing events, giving the best customer service and giving back to the island where the Newfield team work and love to live! https://iombn.im/category/events/

The Dining Club will begin at 7.30pm with pre-dinner drinks. A 3 course meal will be served from 8pm followed by a cheese board and tea/coffee.

Dr Alex Allinson is a Member of the House of Keys and political member for the Cabinet Office and the Department of Home Affairs alongside his role as Chair of Manx Utilities Authority. A GP partner with Ramsey Group Practice, he was elected as a Member of the House of Keys for Ramsey in the September 2016 General Election. In the Department of Home Affairs Dr Allinson has responsibility for the Isle of Man Fire and Rescue Service and the Communications Division, which encompasses the Emergency Services Joint Control Room.

For more information or to book IoD events visit: www.iod.com/eventscommunity/regions/isle-of-man/events

LOCATION: Appleby, Athol street DATE: 7th February 2019 TIME: Session 1 8:30am – 10.30am, Session

2 10.30am – 12.30pm, Session 3 1.30pm – 3pm

new year as we celebrate the amazing work that Isle of Man charity Alzheimer’s Society (Isle of Man) does to support people living with dementia in our local community.

Isle of Man Isle of Man Business Network Annual Charity Ball 2019 LOCATION: Woodbourne House DATE: 1 March 2019 TIME: 19.00 PRICE TBC

We’re teaming up with our friends at Newfield to give you something to look forward to, beyond Christmas. Our muchawaited annual Charity Ball is back and it promises to be the biggest event of the

Brexit & Beyond LOCATION: Comis at Mount Murray DATE: 18th January 2019 TIME: 8.30 am -10am PRICE: Sustaining Member ticket: £15 Full

Member ticket: £20 - Ticket price includes breakfast The turn of the New Year, will take us into the final few weeks before the UK’s withdrawal from the EU on 29th March 2019. The Chief Minister Howard Quayle MHK; Della Fletcher, Executive Director, Crown & External Relations; and David Corlett, Head of the Isle of Man Government’s Brexit team, will join Chamber members to talk about the Island’s preparation for Brexit - whether there is a deal or no deal on the UK’s departure date from the EU. At this event the Chief Minister and his colleagues will offer further insight into the work which has been going on to ensure the Island’s voice is heard, and is as well positioned as possible for either outcome. www.iomchamber.org.im/public/ chamber-events.aspx

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iod-iom Autumn Lunch

The IoD Isle of Man Branch hosted a very successful and well-attended Autumn Lunch on 25th October at the Claremont with around 100 members and guest in attendance.

T

he guest speaker was His Excellency Sir Richard Gozney and guests included Hon Steve Rodan MLC, Minister Alfred Cannan and Minister Laurence Skelly.

The lunch was once again generously supported by Barclays.

Following welcome drinks and an excellent lunch, His Excellency gave a fascinating talk. An interesting comparison was made of the Island and other offshore countries such as Singapore and Bermuda. Sir Richard found the Isle of Man to be one of the most diverse economies in his diplomatic career, with a rich educational system that also supported young talent in sports and music.

He told us afterwards; “I was glad to talk to the IoD Isle of Man. I admire the IoD as an organisation and as far as I can see, it fulfils a useful role among senior members of the business community.”

Jennifer Houghton Chair of the Isle of Man Branch commented “I was pleased to see so many local and visiting IoD members and guests attend the annual Autumn lunch. It was a successful networking event that gave business leaders across dozens of sectors the opportunity to listen to the Lieutenant

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ON THE AGENDA...

Photos: Liam Gilman

Governor share his inspirational views on what makes our Island so unique.”

Stuart Nelson from Barclays said: “Barclays is pleased to sponsor the IoD’s lunch series - the events give the local business community the opportunity to network and hear from a range of interesting speakers all while raising funds for important charities. His Excellency Sir Richard Gozney delivered an engaging talk about his career; providing his thoughts on what makes the Isle of Man as a centre for financial services so unique.”

The IoD Committee would like to thank His Excellency, Mr President, Ministers, members and guests for supporting the bi-annual lunches. We look forward to seeing you at the Spring lunch next year.

A fantastic £1,900 was raised for Hospice at Home by way of a raffle and matched by Barclays.

CONNECTING BUSINESSES

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iod-iom Autumn Lunch

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ON THE AGENDA...

iod-iom Charity Night

Charity Night Raises Awareness and Money for Isle of Man Foodbank The Isle of Man branch held a very successful wine tasting evening on 8th November at the Claremont in aid of Isle of Man Foodbank.

O

ver 40 guests attended this fantastic event to help raise awareness and much needed funds for the IOM Foodbank which helps people on the Island in times of crisis.

The raffle raised an amazing £500 which was generously matched by Lloyds Bank International taking the total to a staggering £1,000.

HSBC kindly sponsored the welcome drinks for this event which means we are also able to donate the proceeds from the ticket sales.

Jane Mellon from the Isle of Man Foodbank commented “we are delighted to accept the fundraising donations from the recent event held by the IoD – we are going to use it to buy two freezers for our stores, one dedicated to vegan/vegetarian food. Thank you so much! Big thank you to Lloyds Bank International too for matching the raffle donation!”

The Isle of Man Foodbank provides crisis support in the form of food parcels to families and individuals in need. They also provide a support and action plan to help get beyond the crisis, and plan for a return to independence, training and advice on cooking with minimal facilities and a means of distributing surplus food from suppliers to those in need.

CONNECTING BUSINESSES

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iod-iom event

“I’d also like to thank law firm, Appleby for not only hosting the day but also for its commitment of support to the IoD in 2019, including also sponsoring the February Dining Club.”

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IoD to Host Experienced Dealmaker Jo Haigh at Business Leaders Event

he Institute of Directors’ (IoD) in the Isle of Man will welcome experienced dealmaker, Jo Haigh to lead a series of CPD training events at Appleby’s Douglas office in the New Year. As a multi-award winning business leader, Jo is the CEO and founder of business support consultancy, fds and has bought and sold approximately 400 companies in the last 28 years.

The day-long event on 7 February 2019 will consist of three workshops presented

by Jo. Entitled ‘Practical Tips for becoming a NED 2019’, ‘Top 5 Things Every Director Should Know’ and ‘Step to the Top’, they will each be targeted at local business leaders looking for support in a role transition or career development.

The first session, ‘Practical Tips forbecoming a NED 2019’ will look at how leaders can access non-executive roles and how to be the most desirable candidate in a competitive marketplace, whilst also exploring the risks and responsibilities of the NED role, with recommendations on best practice for assessing contracts in an increasingly litigious environment.

The ‘Top 5 Things Every Director Should Know’ will follow as an interactive taster session to help delegates distinguish the role of a director from the roles of other actors involved in the management and oversight of a business, including exploring the link between a director’s

duty towards the company and their potential personal liability.

The final session, ‘Step to the Top’ has been created to provide leaders with an understanding of what it means to be ‘board-ready’, a capable director and the duties and obligations that people face as board directors.

Speaking about what will be an interactive and informative day of CPD, the IoD’s Isle of Man branch chair, Jennifer Houghton said: “We are delighted to be welcoming Jo here to the Isle of Man and for the opportunity to share her knowledge and expertise with our members and the wider business community. As an experienced dealmaker and NED chair for a number of prestigious companies within the UK, she is highly regarded in this field – something that is demonstrated by the outstanding number of awards she has been nominated for and the many she has won.”

“I’d also like to thank law firm, Appleby for not only hosting the day but also for its commitment of support to the IoD in 2019, including also sponsoring the February Dining Club.”

Claire Milne, Partner at Appleby Isle of Man, commented: “We are thrilled to be hosting the IoD CPD training, a series of informative sessions aimed at local business leaders. We look forward to welcoming speaker Jo Haigh and the delegates to Appleby’s office in February.”

The event is open to both members and non-members.

For more information, to register for one, two or all three of the events, please visit: www.iod.com/eventscommunity/events/event-details/eventdateid/12822 For any further information please contact Claire Veale on admin.iom@iod.net

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ON THE AGENDA...

iod-iom company direction Previous Delegate Steve Hulbert – Clearwater IOM said about the programme…

“Whether you are an aspiring Director, or already appointed, I believe the IoD Diploma in Board Management is a must.

It is wide ranging, but at the same time detailed, and really helps to focus on the full extent of fiduciary duties that fall upon your shoulders when acting as a Director.

The various modules are interactive and mentally invigorating, which in itself is a practical representation of the Board Room environment”

The programme in total entails 4 modules, covering the core competences expected of a practicing Director including governance, strategy, leadership and finance.

The module‘The Role of the Director & the Board’ which covers company law is tailored to Isle of Man law when delivered on the Island.

Certificate Modules:

IoD Company Direction Programmes

A

s a Director of a company, Isle of Man Law dictates that you must be able to exercise a certain standard of care in financial matters – regardless of whether you are holding a finance specific role within the company or not.

The risk of personal liability As seen recently with the Patisserie Valerie fraud case, the group’s multimillionaire chairman, Luke Johnson, was forced to use £20m of his own moneyto keep Patisserie Holdings in business, after finding that it was nearly £10m in debt instead of having £28m in the bank, as it had last reported.

The Directors have said they were unaware until 10 October that Patisserie Holdings’ main trading subsidiary, Stonebeach, faced a winding-up petition from HMRCover a £1m unpaid tax bill.

What we can learn from this case…

Because Directors are personally liable for financial irregularities within the company they lead, this can result in significant financial penalties and loss of personal assets.

The way a Director can admonish themselves of any guilt, is by being able to show they have kept abreast of company financial statements and lodged any concerns via the prescribed internal channels.

Required steps to avoid problems Therefore, the first step towards avoiding catastrophe, both from a company perspective and a personal one; is to have a detailed understanding of your legal responsibilities as a Company Director, which in the Isle of Man are slightly different to the UK. The next step is to equip yourself with the level of skill and knowledge expected of a person holding such a position of responsibility.

A good option to mitigate risk of this nature, is through Director focused training such as The Institute of Directors Training Programme.

n The Role of the Director & the Board (Legal Responsibilities & Governance) n Finance for non-Finance Directors (inc. Interpreting Financial Statements) n Strategy for Directors n Leadership for Directors

On completion of all 4 modules, delegates are award the Certificate in Company Direction and may use the designation ‘Cert IoD’.

There is then an additional Diploma module, that is designed to provide practice at utilising the content delivered across the 4 certificate modules.

The Institute have scheduled the following dates for these modules to be delivered on the Island in 2019:

n Role of the Director & the Board (inc Isle of Man Company Law) January 28, 2019 (09:00) to January 29, 2019 (16:30) n Finance for Non-Finance Directors March 12, 2019 (09:00) to March 14, 2019 (16:30) n Leadership for Directors April 30, 2019 (09:00) to May 01, 2019 (16:30) n Strategy for Directors July 01, 2019 (09:00) to July 03, 2019 (16:30) Salford University are the Institute of Directors course delivery partner for the Isle of Man and can deal with any questions you may have.

For more details regarding the module agendas and pricing please contactp.brown15@salford.ac.uk/ 0161 295 3386

CONNECTING BUSINESSES

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iod-iom member interview

Sandra Skuszka, Customs and Excise Collector Words by : Les Able Photography by: Matt Mosur

Sandra Skuszka readily admits she is a “decision maker” and once she has all the relevant facts she won’t dither, nor will she dodge what might be a difficult conversation in her professional life.

“I

will do both as soon as possible, I don’t like to leave things to fester,” declares Sandra who, in July this year, was appointed to the crucial role of Collector of Isle of Man Customs and Excise.

Sandra is the first female Collector since the division was created in 1980, has responsibility for 47 staff, and the collection of more than £360m of Government revenue.

In fact, Sandra’s career started in Isle of Man Customs and Excise as a VAT assurance officer, a job she did for five years.

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ON THE AGENDA...

“We had the Tearooms when Prince Charles came to visit, I was asked to bake a bonnag for him, he loved it.”

CONNECTING BUSINESSES

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iod-iom member interview

“It took four years to complete and then I studied for Chartered Tax Adviser for another two years. These were the hardest exams I’ve ever had to do but were pivotal to my career.”

“My role is primarily to oversee the collection of indirect tax but also to advise the Government on all indirect tax matters, and associated law enforcement,” says Sandra, who was previously with KPMG LLC for 10 years and had worked her way up to become an Associate Director.

“Part of my role is to actively participate in discussions on the interaction of indirect taxation with trade and the economy, and to develop strategic relationships with key stakeholders, both external and internal. I represent the Government at meetings and in negotiations with the UK government, plus other national and international organisations, law enforcement agencies and businesses.”

Looking to the future and Brexit she adds: “The Customs and Excise division will go through some fundamental changes in the next few years, particularly with Brexit on the horizon. There is no doubt that those years will be challenging, will require drive and enthusiasm and a willingness to embrace change. Whilst I was happy at KPMG the position of Collector provides new and exciting challenges which I am really looking forward to.”

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ON THE AGENDA...

She adds: “I really enjoyed working at KPMG, I have learnt so much and gained a lot of technical knowledge which I can bring to this new role. My experience in the private sector was one of the key reasons I was offered the position. There is a perception that government is a slow wheel turning, but I’ve been pleasantly surprised. Everyone is open to suggestions and ideas, it’s not so difficult to get things moving.”

Two years ago Sandra, now 54, suffered a dramatic change in her life when her husband of 30 years passed away suddenly from a heart attack. “He was there that morning when I left for work but gone when I came home, it was just all so sudden. Since my husband died I’ve had to take stock and reassess my life. It’s been something of a difficult time but you have to move on, there is only one person to make the decisions now and that’s me and that’s quite hard to adjust to. I have had a lot of support from my friends, family and the people I worked with, and having to get up and go to work in the morning was a godsend. It was the coming home to the empty house that was quite hard.

“I’m lucky, as my parents live nearby and my son Zack, who is 24, has been living at home and has been a tremendous support over the last couple of years but he and his partner Sophie are buying a house and Zack will soon be moving out. I admit I’m not looking forward to living on my own, but you have to deal with it. I now realise how important it is to get the work/ life balance right, you can look back and regret to some extent the amount of time spent away.

“If you’re conscientious and enjoy your work then it’s easy to put it ahead of anything else. I probably do the same hours working in government as I did in private industry, but I no longer deal with so much outside work, eg answering emails at home of an evening or the weekend, so can enjoy more of a private life. I’ve recently done a lot of travelling which gives me something to look forward to.”

An aspect of her working life which Sandra looks back on with great nostalgia and affection is the seven years running Cregneash Tearooms from 1994 to 2001.

“We had the Tearooms when Prince Charles came to visit, I was asked to bake a bonnag for him, he loved it.”

In all the years she has worked in both government and private sectors she has never come across any male bias towards women. “I’ve always been treated as an equal in any job I’ve done, whilst I appreciate some women have not had the same experience. The days of just the one token woman on a board have gone, it’s recognised that having both men and women on a board makes for a good balance, they complement each other. Men and women often see things from different CONNECTING BUSINESSES

FACT FILE

FAMILY? I live in the south of the Island

with my son Zack and a cat called Izzy. My Mum and Dad also live here on the Island whereas my brother and his family live near London, my sister and her family live in San Francisco and my brother-in-law and his family in Manchester. I have lots of nieces, nephews and cousins, all in various places around the world.

BEST GADGET? Zack and partner Sophie

gave me a Fitbit for my birthday last year. I love the step challenge, the most I’ve ever done in a day is 36,000. You can get a bit obsessive about it though.

SPARE TIME ACTIVITY? I do Yoga and

Pilates at least once a week. You need to keep all those joints moving, especially your back.

FAVOURITE COLOUR? Blue, although I

like orange and red flowers.

FAVOURITE MEAL? Fish and Chips. We

are blessed with the best chip shops on the Isle of Man and I’m pretty sure I’ve visited most of them. My favourite is Port Erin.

WORST CHARACTER TRAIT? My sense of

direction. Even if I have a map, I still get lost.

PHOBIAS? Mice. When we moved into the

Weaver’s cottage in Cregneash we caught 38 mice in one day. They were running up and down the wood paneling behind the bed!

FAVOURITE FILM OF ALL TIME? Oh

brother where art thou. I like films that make me laugh and George Clooney is really funny in this one. I can’t watch horror films though!

MOST EMBARRASSING MOMENT? My

suitcase was going round on the baggage carousel with this vibrating noise coming from it. I went bright red getting it off the carousel.

YOUR BEST QUALITY? I’m fairly patient. It

takes quite a lot to get me annoyed.

GUILTY PLEASURE? Pringles and

Maltesers.

BIGGEST INSPIRATION? My Mum and

Dad have always been a huge influence in my life. They are so loving and caring and have such a special relationship with each other.

A PERFECT DAY? A day on the ski slopes

with family and friends when it’s snowed the night before and the powder is really fresh.

BEST PIECE OF ADVICE YOU’VE EVER HAD? Always try and look at things from

another person’s point of view.

WHAT DO YOU MOST DISLIKE? People

that are rude to waiters or waitresses.

IF YOU COULD GO BACK IN TIME, WHICH AGE WOULD YOU GO TO? I’d go back to

the 1960s. I love Motown and Soul music and all the clothes they wore – think Jackie Kennedy.

THE CRAZIEST THING THAT EVER HAPPENED TO YOU AND THE WORST?

I was asked to bake bonnag for prince Charles. He loved it!

BIGGEST EXTRAVAGANCE? I recently

spent a lot of money on a new bed but it was worth every penny. A good night’s sleep is so important.

electric toothbrush somehow switched on whilst it was in my suitcase and my

TOP OF YOUR BUCKET ‘TO DO’ LIST? To

perspectives which is a good thing.”

Sandra, who readily admits she has had a varied career, didn’t start studying accountancy until she was 40. “It took four years to complete and then I studied for Chartered Tax Adviser for another two years. These were the hardest exams I’ve ever had to do but were pivotal to my career.”

Until recently she was Chair of the Association of Certified and Chartered Accountants. “It was my decision to step down as there could have been a slight conflict with my new role.”

A member of the Institute of Directors Isle of Man for nearly four years, Sandra says: “I enjoy being with like minded people, meeting people you might not

usually meet. If you work in industry then the IoD is great for networking.

The speakers at local events are always interesting as they are locally focused.”

As for her style of management, Sandra hopes she is approachable and that people feel they can come to her with a problem but also admits she is not impressed if someone lets her down, in terms of morals and conscientiousness.

It’s worth going back to her nononsense approach to issues: “When my son was little and he did something he shouldn’t, like accidentally kick a ball through a neighbour’s window, I would march him straight round and sort it out.”

go to the Isle of Wight pop festival.

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iod-iom events

The very well-attended Ladies Lunch at 14 North on 17th October was a great success

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n almost full house joined the IoD Ladies Lunch to hear Maria Bridson, a qualified advocate for over 15 years, speak about recent changes to Isle of Man immigration law, and in particular about the challenges of a pending Brexit.

Maria commented, “My talk highlighted some of the key competitive advantages that the Island’s immigration system has compared to other jurisdictions and discussed how businesses can capitalise upon those opportunities. It was really interesting to hear from fellow professionals across such a wide range of sectors about the challenges and opportunities they face in bringing new people and businesses to the Island”

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wenty four guests enjoyed a three course meal at the Dining Club, held at the Claremont, before having the pleasure of listening to Bill, MHK for Middle since 2016, speak about his experience in his first two years as a politician. Bill’s talk was much appreciated and resulted in lively discussions that took us well past our scheduled finish time.

Mark Waterhouse, IoD Committee member, who had the pleasure in introducing Bill, said, “It was a great evening with Bill giving a very interesting presentation on some of the meatier issues facing the Government and the “politics” involved in getting agreements and decisions from fellow MHK’s and from MLC’s. The only downside was that we ran out of time to deal with the many questions from our guests, which Bill was answering frankly and with great understanding and sympathy with public opinion.”

The IoD Isle of Man Branch looks forward to continuing to liaise with government on important issues affecting the Island and its businesses.

Bill came to the island in 2002 to take up the role of Managing Director, Northern Bank (IOM) Limited. Subsequently he became Island Director for RBSI and MD of Isle of Man Bank from May 2011 until July 2016.

After 34 years in multi-jurisdictional banking, Bill was concerned about the trends he was seeing on the Island. As such he stood as a candidate for the House of Keys in the September 2016 election. He topped the poll in Middle and currently is also Member of the Treasury Department.

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She added, “As March 2019 approaches, Island businesses need to start examining their recruitment strategies in a postBrexit environment to understand the legislation and to make sure they can support their staff who may face immigration issues.”

We wish her the very best of luck with her new role with Bridson Halsall Advocates advising business and personal clients on their corporate and immigration matters.

If you would like to be considered to speak at one of our Ladies Lunches in 2019, please get in touch with Claire Veale on admin.iom@iod.netor 07624 355160.

The IoD Isle of Man Branch was delighted to welcome Bill Shimmins, MHK for Middle, to speak at our belated Summer Dining Club held in September

ON THE AGENDA...

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Visit tech.applebyglobal.com to find out how we can help you.

applebyglobal.com

update Movers & Shakers

Garry Manley joins Appleby Isle of Man

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ppleby has welcomed Garry Manley as Partner in the Isle of Man office, strengthening the firm’s corporate department.

Specialising in corporate finance, company law and regulatory matters, Garry brings a wealth of knowledge to the team. He has experience of advising on domestic and cross-border mergers and acquisitions, joint ventures, venture capital and private equity investments, leveraged and asset financings, international securities offerings, structured finance products, corporate restructurings and corporate governance issues.

After graduating from Oxford University with a First Class law degree, Garry practised as an English lawyer for almost 10 years in the London, Hong Kong and New York offices of Cleary Gottlieb Steen & Hamilton LLP, which is one of the world’s leading corporate law firms. He has also worked for an offshore law firm advising on BVI and Cayman law matters, and most recently he worked at an Isle of Man corporate law firm.

He is an English solicitor and an Isle of Man advocate.

Garry joins Appleby’s corporate team, which is the largest on the Isle of Man. His recruitment also strengthens Appleby’s senior team, increasing the number of Isle of Man-

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based Partners to 10.

Garry said: “Appleby is consistently ranked as the top law firm on the island, and I am delighted to join the firm as a Partner, working alongside such a diverse and experienced team both in the Isle of Man and further afield.”

“I believe passionately in the importance of giving back to the community, and Appleby, through the Appleby Charitable Foundation, Appleby Academy and Isle of Man Bursary Scheme, has one of the most established CSR initiatives on the Isle of Man, so I am pleased to be on board.”

Faye Moffett, Managing Partner and Group Head of the corporate department in the Isle of Man, said: “The firm is incredibly busy right now, so there isn’t a better time for us to be strengthening our team with the appointment of Garry as Partner.

“Garry is a great addition to the team with vast experience, having worked for a leading international law firm for nearly a decade with a long-list of well-known clients. We are thrilled to welcome him to the Appleby team.”

Appleby is the largest law firm in the Isle of Man with over 30 lawyers. The firm is continuing to expand and is currently looking to recruit two corporate lawyers. For more information visit: applebyglobal.com/careers.

ON THE AGENDA...

Sure appoints new head of sales in the Isle of Man

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ocal telecoms company Sure has appointed Dee McLoughlin as head of enterprise sales.

Dee is responsible for leading and managing Sure’s recently expanded business team of six account directors, looking after the company’s enterprise and SME customers.

Sure has enjoyed double digit growth via its investment in not only its team but also in new technologies and infrastructure, which enables the delivery of a wide and diverse product portfolio to its customers. These services include: broadband, fixed voice lines, data centre, professional technical design and implementation, cloud computing, private circuits, telephone systems and security solutions to both corporate and public sector clients.

With ten years’ experience in business development and sales, Dee joins Sure with extensive knowledge of the Isle of Man business market, technology and sales.

“Sure has invested considerably in the Isle of Man with the launch of its own fibre network and the range of business services it now provides on the island. It’s an exciting time to be joining the business as it continues to grow and drive real competition on the island,” said Dee.

“Sure has invested considerably in the Isle of Man with the launch of its own fibre network and the range of business services it now provides on the island. It’s an exciting time to be joining the business as it continues to grow and drive real competition on the island”

Jon McCulloch, group sales director, said: “We’re thrilled to have Dee lead the enterprise sales team. Her experience in sales management in the local market and her understanding of today’s technologies made Dee a great fit for our business and our customers. I’m looking forward to working closely with Dee in our constant drive to offer an exceptional customer

experience, coupled with services that best meet our customers’ needs.”

Mike Phillips, chief executive of Sure Isle of Man, said: “I’m delighted that Dee has joined the Sure family to not only lead our enterprise sales team but also play an active and crucial role in supporting our customers and developing our business further.”

DQ PROMOTES ADAM KILLIP TO SENIOR ASSOCIATE

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eading Isle of Man law firm DQ Advocates has further strengthened its senior associate team with the promotion of Adam Killip.

Adam has been with the company since 2012 and an associate within its corporate & commercial and regulatory & compliance departments since January 2015 A member of the Isle of Man Law Society and the Alliance of Isle of Man Compliance Professionals, Adam’s practice encompasses a broad range of corporate, commercial and regulatory work, including corporate mergers, acquisitions and sales, banking and finance deals, shareholder disputes and insolvency matters.

Last week, Adam was listed as an ‘Associate to Watch’ in the latest Chambers Global legal rankings.

As an accredited Data Protection Practitioner, Adam also advises on a range of data protection matters and, from a regulatory perspective, speaks to clients about licensing applications, regulatory investigations and legal obligations under financial services legislation.

CONNECTING BUSINESSES

Head of Corporate and Commercial at DQ, Stephen Dougherty, said: ‘DQ offers a professional journey for individuals with the drive and motivation to succeed and it is hugely satisfying to see Adam progress through the firm.

‘He has built up a wide range of experience in a number of areas from GDPR and cryptocurrency to enforcement action, collective investment schemes and a breadth of general regulatory matters such as anti-money laundering.

‘He has also made notable contributions to a number of the company’s publications involving restructuring and insolvency, as well as aviation finance.

‘We are delighted to promote Adam and congratulate him on the hard work he has undertaken to achieve this.’

Adam added: ‘It is an exciting time to be part of the DQ team. Everyone is committed to providing high standards of client service and being involved with such a progressive employer is extremely motivating.

‘I look forward to helping the practice prosper for years to come.’

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update Movers & Shakers

Isle of Media adds world class experience to Advisory Board.

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sle of Media, the national development agency for the thriving Isle of Man video, television, and media technology cluster is adding three world class media professionals to the Advisory Panel. The Panel drives the direction and strategy of the Isle of Man media hub and helps to spread the word globally about the advantages of setting up media ventures on the island.

The three new members are:

n Joan has steered and catapulted the Cinemagic brand from being a Belfastbased film festival for young people to now hosting Cinemagic film festivals across the world including Dublin, London, Castres (France), Los Angeles and New York. The Festivals engage with over 40,000 young people from all backgrounds and abilities. n To date the charity has engaged with over 500,000 young people, screened over 3000 films, and hosted over 500 masterclasses, workshops and special events. Cinemagic film production projects have received international acclaim for their ambition, quality and reach. n She is also a very passionate and successful producer having produced ground-breaking short films and programmes aimed to improve the life chances of young people particularly from areas of deprivation.

Joan Burney Keatings MBE.

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oan has been the formidable powerhouse behind the award-winning children’s charity Cinemagic for the last 17 years. She loves the magic of film and television and recognises its power to educate, motivate and inspire young people.

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n In the last four years Joan and her brilliant team at Cinemagic have produced two feature films, A CHRISTMAS STAR and GRACE AND GOLIATH; secured worldwide distribution for both feature films; developed award-winning “behind the scene” documentaries, produced over 45 short films. n Joan is based in Northern Ireland.

ON THE AGENDA...

Dr Bettina Brinkmannhas

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broad expertise in TV and film production, international coproductions, acquisition, event management and business development and was decisive in developing international projects, closing global deals and executing major projects with some of the worlds leading institutions and brands. n She worked in various executive roles in the media and marketing sector both within the private sector (Bertelsmann, RTL, VOX) and the public sector (ZDF, EBU), covering a broad scope of responsibilities. n She is experienced in setting up international partnerships, launching new projects and defining market entry strategies. n She is shareholder of a Swiss company and co-founder of a new media venture. n Parallel to her professional engagement she is on the Steering board of a Swiss animal welfare foundation. n Ms Brinkmann holds a PhD in media and has continued advanced studies at the International Institute for Management Development Lausanne and is currently pursuing further studies. n She is based in Switzerland.

Clark Buntingis

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he co-founder and CEO of Digital Circus Media.

n He is the former president and general manager of Discovery Channel, developing Shark Week, and overseeing Discovery Channel, Animal Planet, Investigation Discovery and many other brands for Discovery Networks. n He is well known as a strategist and innovator with a reputation for growing businesses with strong branding underpinnings. n He is also known in the non-profit world as the former CEO and president of the National Parks Conservation Association and Chairman of the Smithsonian National Zoo Advisory Board. n His programming portfolio has received numerous EMMY, DUPONT and PEABODY Awards, and one OSCAR. He is a recipient of the Distinguished Alumnus Award from Michigan State University and holds an honorary PHD. n Clark is based in the USA. CONNECTING BUSINESSES

Michael Wilson, CEO of Isle of Media said, “Growing the Advisory Panel is important for the Isle of Media as it shows the depth of knowledge and experience the organisation can call on. The Panel reviews our strategy and their global network allows the business to develop contacts and attract businesses from a cross the world.

We appreciate the time all our advisors give, and the benefit this brings to the Isle of Man economy and the media cluster we are building.”

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update movers & Shakers

HSBC appoints new CEO in the Channel Islands and Isle of Man

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ue Fox has today been announced as the new CEO of HSBC in the Channel Islands and the Isle of Man. Sue is currently the CEO of M&S Bank, which is part of the HSBC Group, and has been with HSBC for over 30 years.

Since joining M&S Bank in 2014, Sue has led the business through the launch of its first mainstream current account and its first mortgage range. M&S Bank is now regularly named one of the UK’s leading challenger banks, having received many accolades for its service and products.

Prior to joining M&S Bank, Sue held a number of senior positions in HSBC, including Global Head of Physical Distribution. She has worked both in the UK and overseas, including managing the HSBC branch network in Manhattan, New York.

The appointment will be effective on 1 February 2019, subject to regulatory and other approvals.

Chris Davies, CEO of Europe International, said, “Sue is an excellent leader for this important market. She will build on the successful strategy that we’ve established here under Tracy Garrad’s skilful leadership.”

Sue commented, “I’m delighted to be joining HSBC’s business in the Channel Islands and the Isle of Man at such an exciting time. We have the opportunity to further grow HSBC’s propositions and use our unique global banking network to benefit the Islands’ customers. Equally important to me is fostering an inclusive and positive workplace and I very much look forward to working closely with our 1,200 talented colleagues.”

Sue has been ranked as a leading LGBT+ Ally Executive by OUTstanding in association with the FT for the last two consecutive years. She was also recently ranked in the FT and HERoes Top 100 Female Executives list. In addition to her role at M&S Bank, Sue is an Independent Non-exec Director with Scottish Power Ltd. Sue lives with her partner Paul and their son Sam. Sue Fox succeeds Tracy Garrad, who is pursuing a career opportunity outside the bank. Tracy has successfully strengthened the bank’s local and global capabilities, and championed an open, inclusive culture.

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“I’m delighted to be joining HSBC’s business in the Channel Islands and the Isle of Man at such an exciting time. We have the opportunity to further grow HSBC’s propositions and use our unique global banking network to benefit the Islands’ customers.”

ON THE AGENDA...

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When quick decisions are called for, are your accounts as accessible as you are?

Business can take place anywhere, at any time. HSBCnet puts control in your hands, letting you view your bank balances, make payments and transfer money with just one login, wherever you are.

Call Jaime Amoedo, Head of Corporate Banking in the Isle of Man, on: 684833*

Together we thrive *Lines are open 9am to 5pm, Monday to Friday. Your call may be monitored and/or recorded for training and security purposes.

HSBC Bank plc, registered in England and Wales number 14259. Registered office 8 Canada Square, London, E14 5HQ. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. In the Isle of Man HSBC Bank plc is licensed by the Isle of Man Financial Services Authority. Š HSBC Bank plc 2018. All Rights Reserved. 180605/NN/214