Lansdown Place Magazine Q4 2012 Cleese

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The exclusive magazine for Lansdown Place Financial Management

ISSUE #6 | NOVEMBER / DECEMBER 2011

GARDEN OF THE GODS

WE TRAVEL TO ZIGHY BAY

PART OF THE PROCESS AUTO-ENROLMENT ESSENTIALS

‘TIS THE SEASON

INDULGENT GIFT IDEAS

JAMES CAAN

Cleese NOT THE MESSIAH

BUT A VERY NAUGHTY BOY

TOP ENTREPRENEURIAL TIPS

FINANCE

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BUSINESS

NEWS

ARTS

FOOD & DRINK

FA S H I O N

LUXURY GOODS

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Dear Reader

r e d a e R r a e D Twelve months ago we reported that we were looking forward to being in our new premises. Well, finally, a year later, I am delighted to report that we are now settled in our new offices in Clifton, Bristol.

The move for us was important, not only to provide more space (which we desperately needed) but to demonstrate to our clients, and other professional firms that we work with, our commitment to continuing to provide long-term, holistic financial planning to both private and corporate clients in the years ahead.

So, what of the past twelve months? I asked Graham Lewis (Private Wealth Director) to give us his overview and thoughts for 2012 and beyond: “Just when the global recovery was beginning to appear self-sustaining, markets were buffeted by unexpected events in the first quarter. The civil unrest in the Middle East, the earthquake in Japan and the ensuing nuclear crisis, reminded us just how fragile stock markets actually were.

The release of consistently disappointing statistics over the middle of this year gave a picture of the global economy slowing down. This is in spite of a lot of economic stimulus by the developed world.

As we come to the end of a very volatile year, global markets remain gripped by fears of a renewed global recession and the rapidly worsening debt crisis in the Eurozone area. With governments and central banks seemingly powerless to react, the uncertainty resulted in extreme market movements within fairly narrow ranges. Investments such as equities, commodities and currencies performed badly, the worst since 2008. Safe haven investments, like US Treasury and Gilts, had their strongest run since 2008.

Financial Advice: Independent & Impartial

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Turning our attention to next year and beyond, economic difficulties remain, with little idea of how to put things right. Our immediate concern is still about the extreme levels of debt in the Western world. As growth slows in the face of cuts in government spending, the temptation is to engineer a high dose of inflation. With interest rates set to be low for the foreseeable future, this would suggest equities, index-linked gilts and alternatives as investments for 2012.�

In summary, never has it been so important to seek advice from an independent financial adviser. There is still money to be made, you just need to be creative and plan appropriately, and seeking professional assistance is key to your financial success in 2012 and beyond.

On a slightly lighter note, as a business we have supported and been involved in a lot of charity work in 2011, not least our own team who entered the INVESCO Perpetual Highland Challenge, raising money for Mitchemp Trust. We are also delighted to have sponsored and supported the local Bristol charity, Hop Skip and Jump, which in turn supports underprivileged children.

All that is left for me to say is a Merry Christmas and a Happy New Year to you all and your families and loved ones.

Nicola Mould Managing Director Lansdown Place

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Editor’s Letter

Ho-ho-ho, season’s greetings, happy Yule and all that schmaltz. Jollities out of the way, I have never really been one for Christmas. We go together like frogs and lawnmowers. But not being a complete Scrooge, I do abide the shopping. Defying sensibility, I leave it to the eleventh hour, Christmas Eve, to be part of the desperate hysteria of it all. For the more discerning amongst you, who prefer to spend their time relaxing, not rushing and queuing, why not have a flick through our gift guide, with a handful of indulgent ideas carefully put together by Klair Robinson.

In keeping with last year’s Christmas interview, we’ve gone all funny on you again, with another legend of the genre, the national treasure, Mr. John Cleese. Fresh off the back of his Alimony Tour, we look back at the career of one of Britain’s most-loved and revered comedians, not forgetting any dead parrots, silly walks, or black knights.

I’ve really been missing out recently: a trip to Zighy Bay and an invitation to Bristol’s newest speakeasy, The Milk Thistle, are obvious regrets, both of which are featured this issue. I didn’t miss out on speaking with James Caan, though, whose thoughts on business leadership are as cool and collected as we’ve come expect from the former Dragon. Likewise, Giles Clarke, chairman of the English Cricket Board, has some choice words about the economy and corruption in sport.

I would go on, but that’s what the front page and contents are for. There’s a bulging Christmas stocking of editorial to get through, including cars, restaurants, fashion, hotels, business and finance.

All that’s left is to wish you a wonderful Christmas and a prosperous 2012.

Laith Al-Kaisy Laith Al-Kaisy Editor Laith Al-Kaisy Editor in Chief Andrew Hobson Art Director Andrew Hobson Art Director Peter Robinson Director Peter Robinson Director Adam Wood Digital Director Adam Wood Director

laith@getmediamanagement.com laith@getmediamanagement.com info@andrewhobsondesign.co.uk info@andrewhobsondesign.co.uk peter@getmediamanagement.com peter@getmediamanagement.com adam@getmediamanagement.com adam@getmediamanagement.com

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Floor, Prudential Buildings Get Media1st Management 11-19 Wine Street, Bristol, BS1 2PH 1st Floor T: +44 (0)117 3702 471 Prudential Buildings www.getmediamanagement.com 11-19 Wine Street Lansdown Bristol, BS1 2PH Place Place T: +44 (0)117 3702Lansdown 471 2 Oakfield Road E: peter@getmediamanagement.com Clifton, Bristol, BS8 2AL www.getmediamanagement.com T: +44 (0) 845 30 50 222 www.lansdownplace.co.uk

Lansdown Place is a trading style of Lansdown Place Financial Management Ltd which is authorised and regulated by the Financial Services Authority. Our Financial Services Authority Registration Number is 126762. Lansdown Place Magazine is designed by Andrew Hobson Design. All rights reserved. Lansdown Place Magazine is funded solely through the kind support of advertisers. The views expressed in this publication are not necessarily those of the publisher. The publisher cannot accept responsibility for any errors or omissions relating to advertising or editorial. The publisher reserves the right to change or amend any competitions or prizes offered. No part of this publication may be reproduced without prior written consent from the publisher. No responsibility is taken for unsolicited materials or the return of these materials whilst in transit.

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INSPIRED DESIGN. INSPIRING PERFORMANCE. THE NEW ASTON MARTIN VIRAGE Assertive but not aggressive, the elegant Virage exudes understated grace and style. Clean, fluid lines capture the essence of the Aston Martin design ethos, while the underlying potency of a hand-assembled V12 delivers a performance that is both powerful and pure.

An intoxicating blend of looks, refinement and pace, the Virage is the perfect choice for the discerning driver who not only demands comfort, but also desires genuine dynamism.

Aston Martin Broughtons Aston Dealer Martin 1234 Aston Road Rutherford Way, Martin Cheltenham Gaydon, Warwickshire Gloucestershire CV35GL51 0DB,9SQ UK 01234 01242 567890 232667 www.astonmartindealer.com info@broughtonsastonmartin.co.uk

PLEASE CONTACT US FOR MORE INFORMATION OR TO ARRANGE A TEST DRIVE Official government fuel consumption figures in mpg (litres per 100km) for the Aston Martin Virage: urban 12.7 (22.3); extra-urban 26.2 (10.8); combined 18.8 (15). CO2 emissions 349 g/km.

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Contents

Contents 10

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06 Under the Spotlight 10 John Cleese 16 Finance 23 Legal Trusts 26 Travel Zighy Bay & Blakes Hotel 34 Mastering Leadership 39 Drinks Wine & Milk Thistle 42 James Caan 44 Executive Toys Audi A7 47 Watches 48 Fashion Burberry & Fashion Weekend 52 Food Drakes & Wongs 55 Christmas Gift Guide 59 Giles Clarke 61 On the Bookshelf 64 Iconic Brands Aston Martin

Our Contributors

Road reporter Graeme Morpeth goes weak at the knees for the Audi A7 and uncovers the story behind Aston Martin.

Fashion guru Rhiannon Smith shops and stays at fancy hotels. Don’t miss her report from London Fashion Weekend.

Somehow Peter Robinson gets all the tough jobs. This issue he reviews Oman’s Zighy Bay resort, and Bristol’s newest speakeasy.

Finance expert Huw Thomas continues his series on autoenrolment, looking at administrative challenges facing employers.

Special thanks go to our recent intern Klair Robinson, who put together a stellar Christmas Gift Guide.

Steve Brice, Lansdown Place Senior Corporate Benefits Consultant, puts pen to paper on the Retail Distribution Review.

Lansdown Place is printed on FSC-certified grade paper. Please recycle this magazine when you have finished reading it.

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Under the

t h g i l t o p S BRRRing on the holidays...

IceHotel brings a whole new meaning to the pop-up fad that took 2011 by storm. Ephemeral is certainly one way to describe this temporary accommodation, which is based in Sweden and built entirely from ice and snow each year. Though not the first of its kind, but certainly regarded among the best, IceHotel is a truly elemental experience, originally conceived in the early 1990s by Yngve Bergqvist.

Pitched to customers as a literal work of art, building of the IceHotel begins as soon as winter does; a team of snow-builders, sculptors, architects, designers and artists come together in the little town of Jukkajarvi, acute north of the Arctic Circle, and start creating the year’s version of the hotel.

The result: well, as you can see from the photo, positively fairy tale-like. With a choice of warm or cold accommodation, you can make this trip one of comfort or endurance, depending on your disposition.

Regardless, though, there’s only a short gap each year when the elements are working in harmony for this to be experienced. So, if you’re looking for a winter retreat, this ethereal proposition will cost you anywhere between £100 and £500 per night, with the season lasting until April. www.icehotel.com

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Under the Spotlight

The Da Vinci Ode November saw the opening of 2011’s most anticipated art exhibition, Leonardo da Vinci: Painter at the Court of Milan, which focuses on the polymath’s career as a painter for the royals.

The show will bring together the largest number of Leonardo’s surviving paintings, including international loans never before seen in the UK. Leonard’s tenure in Milan was to be his making, using his salaried position to exercise artistic license and ultimately evolve his ideas.

He was given the liberty to overreach, in true Renaissance fashion. Works of this era, which will be on show, include ‘The Last Supper’, ‘Portrait of a Musician’ (Biblioteca Ambrosiana, Milan), the ‘Saint Jerome’ (Vatican, Rome), ‘The Lady with an Ermine’ (Czartoryski Foundation, Cracow), the ‘Belle Ferronnière’ (Musée du Louvre, Paris) and the recently restored ‘Virgin of the Rocks’.

And if that wasn’t enough, more than fifty drawings related to his paintings will debut, including thirty-three sketches from the Royal Collection. Open until February 5, 2012. www.nationalgallery.org.uk

Survival of the richest Who was the greatest economist: Charles Darwin or Adam Smith? This is the question Robert H. Frank poses in his much-anticipated new work, The Darwin Economy.

Economists have long believed in the power of Adam Smith’s “invisible hand” to steer markets, but the collapse of the financial industry in 2008, and the resulting Great Recession, have left many wondering whether unregulated competition always leads to the greatest good.

Frank argues that Charles Darwin’s understanding of competition describes economic reality far more accurately than Adam Smith. For years, anti-government activists have referenced Adam Smith, claiming that unregulated and untaxed competitive markets promote the common good with little, if any, government intervention. For Smith, market failures were almost always rooted in attempts to suppress competition. Robert Frank argues that these failures stem from competition itself.

For an engrossing antithesis to mainstream thought, The Darwin Economy only goes so far, but still proves to be one of the year’s most enlightening books on the uncertain economic landscape. www.foyles.co.uk

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More news, goods and gadgets over the page »

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Shelf life The Hohrizontal 51 is quite possibly the sexiest and most sophisticated iPod dock that we’ve seen this year.

What’s more, it’s a shelf too, with no distracting bits and bobs, just slick, streamline finesse. Its built-in speakers and amplification offer unequivocal sound with a forceful bass, also providing seamless integration with other multimedia, such as computers, televisions and other MP3 devices.

The USP here is design. MP3 docks are rarely discreet and effectual in equal measure, but the promise here is a smart design that neither compromises aesthetics nor audibility. Complete with remote control and available in a variety of high gloss and veneer finishes, the Hohrizontal 51 was distinguished with a Red Dot Design Award in the Product Design category 2011.

You can pick one up at Sphere Living Design, Bristol (0117 929 2365), or from www.spherelivingdesign.com.

20% off RRP of £599.00 to our readers. Simply add the promo code LPM11 into the website when purchasing, or take this magazine into the store.

Arrive & Drive We’ve teamed up with Guy Salmon Land Rover Bristol for an exclusive Arrive & Drive event for Lansdown Place clients, taking place at Lucknam Park Hotel & Spa, near Bath, on Tuesday December 6.

You are invited to experience the motoring brand firsthand, with test drives of the Range Rover, the Range Rover Sport and the Range Rover Evoque through the breathtaking Somerset countryside. In addition, the Land Rover Defender, Freelander and Discovery will be available to test drive, together with the chance to experience the impressive capability of the range on Land Rover’s ‘mini terrapod’.

Two sessions will make up the event (morning: 9am – 12:30pm; afternoon: 1:00pm – 4pm) which will include a buffet breakfast or lunch, and the opportunity to discuss your current and future vehicle requirements with the team from Guy Salmon. Places are limited, so please express your interest as soon as possible. We look forward to seeing you there.

Contact Peter Robinson on 07530 212841 to book your place on the arrive and drive, or visit www.lansdownplacemagazine.com/editorial/arriveand-drive-0

Turn it up to eleven Bang & Olufsen release the latest technology in their BeoSound range, the BeoSound 5 Encore: a home music hub that promises to centralise scattered music collections.

In true ‘plug and play’ style, the system allows you to instantly access your digital music catalogue from a hard drive, computer, wireless device or network server – and all from the same hub. And with the ability to connect up to eight BeoSound Encores to a single server, your whole music collection could be accessible in every room of your home; a small fortune to pay, but cool or what.

The hub also allows access to internet radio stations, as well as the ability to automatically generate playlists. At £2,900, it’s not a cheap toy, but it is one of the sleekest and most indulgent systems on the market.

Available from Bang & Olufsen, Bristol Triangle, or visit www.bang-olufsen.com

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And now for something

y l e t e l p m Co t n e r e f f di

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And Now for Something Completely Different

To be English is to have two things: history and humour. Providing you have these, everything else is a bonus. No other people revel in their own merciless schadenfreude and selfdegradation. To say to an Englishman that he has no sense of humour is to question his very existence, the backbone of his being, and the inability to take or understand a joke has long been the demarcation line between us and Johnny Foreigner. To think of someone who personifies this idea isn’t hard; someone who is quintessentially English and has used humour to lampoon himself, his country, its history, and indeed foreigners for over half a century.

“The Americans all love Holy Grail and the English all love Life of Brian.

I side with the English”

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To look at John Cleese is to see raw Englishness – a caricature gentleman, whose gangly appearance always complements his overblown performances and self-abasing style. Cleese has been hero of mine ever since, at the age of twelve, discovering the film Life of Brian and, like many others, incorporating its dialogue into my day-to-day lexicon. You see, John Cleese isn’t just a comedian, he’s a national treasure, in the least cliché and most genuine sense of the term. For many English people, he forms part of the cultural fabric, but unlike many of his contemporaries, hasn’t gone so far as to align himself with the establishment. “I turned down a peerage actually,” he says. “Paddy [Ashdown] was going to offer me one, for political services - not because I was such a wonderful human being.” Cleese previously turned down a CBE too, “because I think they are silly.”

But not sillier than, say, Monty Python, the comedy troupe Cleese founded with Eric Idle, Terry Jones, Terry Gilliam, Michael Palin and Graham Chapman. Cleese, who turned 72 in October, is obviously a man of integrity, which is probably why we rarely see him on television anymore.

Broadcasting has changed vastly since his heyday in Monty Python’s Flying Circus and Fawlty Towers, and apparently television is all the worse for it. “I was sent two scripts by the corporation recently, which I was initially very excited about, but then I read them and they were terrible,” he laments.

“Very few good opportunities have come my way in this country of late.”

Indeed, Cleese spends his time between California and Bath – in fact, he is turning on the Christmas lights there this year. Cleese only recently moved to the south-west city, with his partner Jennifer Wade, 40, and calls it redolent of the England he was raised in. “As I arrived here, I just fell in love with the place and I was trying to figure out why it felt so good. And I realised it’s because I was born in Weston and I went to Clifton College.” Cleese is a local boy with local values then, which probably helps to explain the choice words he had about London recently. “I don’t know what’s going on in London, because London is no longer an English city.

That’s how they got the Olympics. They said, ‘We’re the most cosmopolitan city on Earth’, but it doesn’t feel English.” Does that explain his move to Bath? “I love being down in Bath, because it feels like the England that I grew up in,” he says.

Perhaps it is wrong to suggest he experienced the bitter end of fame, recently paying out a whopping $16 million divorce settlement to his third wife, Alyce Cleese. “I am left with about $8.5 million, out of which I have to pay her another $5 million. So she’ll get something like $21 million, and I am left with $3.5 million – and we never had children,” he admits. Bath is an antidote to this prior extravagance perhaps? “We acquired a luxurious kind of lifestyle – a mews in London, an apartment in New York, the ranch in Santa Barbara, a beach house. I found that I began to spend all my time earning money to support this very expensive lifestyle. Totally my fault,” he concedes, but then jests, “At least in the future if I go out with a lady, they will not be after my money.”

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And it’s that kind of English schadenfreude, that ability to see mirth in one’s own misfortune, which gave birth to Cleese’s latest stage show, the appropriately named ‘Alimony Tour’, which was “an evening of well-honed anecdotes, psychoanalytical tidbits, details of recent surgical procedures, and unprovoked attacks on former colleagues, especially Michael Palin.”

The show was met tepidly by critics, but, as always, pleased the fans, which seems to be a running theme with Cleese’s work. Hacks are always the last to catch on, notably with Fawlty Towers and Monty Python.

Indeed, the onty Python team’s feature films made a habit of causing social stirs, not least Life of Brian, which Christians declared “blasphemous” and “an agent of the Devil.” It was subsequently banned for a short time in Norway (one year), a long time in Ireland (eight years), and an even longer time in Torbay and Aberystwyth (nineteen and twenty years, respectively).

“I think it is the most mature thing we did,” he offers. But is it his favourite of the films Yes, and it’s very interesting because there’s a big difference of opinion between the English and the Americans.

The Americans all love Holy Grail and the English all love Life of Brian. I side with the English. I think that the first or 0 minutes of Holy Grail is terrific, really good, I’m very proud of it. But then I

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And Now for Something Completely Different

think that some of the sequences in the middle are not as strong. And then the ending – we sort of get away with the ending, but I don’t think the ending is great. Whereas, as a story, Life of Brian works much better than anything else the Pythons ever did. The jokes are terrific and it’s about something really important.”

For those not in the know, Life of Brian is the Python’s satirical allegory on the life and death of Jesus Christ, whereas Holy Grail sends up the famous quest of King Arthur and his roundtable knights. So prominent are their films, in fact, that many forget that the Python outfit started life as an alternative sketch show on the BBC. It’s a theme that would later be revived for a film that won the Grand Jury Prize at the ’83 Cannes Film Festival, The Meaning of Life. The film walks us through the stages’ of existence, from birth to death, tackling the hypocrisies and anomalies of various cultures and religions. It played out rather like an acid trip, and is probably the most bizarre thing they ever did.

Though The Meaning of Life was a hit with the critics, leese remains dubious of its personal fulfilment. We were used to writing sketches,” he recalls. “That came back again in eaning of Life, where we could never figure out what that movie was really about. We just found a framework on which to hang various funny bits of material. I actually think we did very well, but I just never felt it was quite right.

It didn’t have a storyline, and the framework was kind of artificial. It was very ingenious of Terry ones to come up with it. Without it, the film would never have been made, but it never felt artistically satisfying to me. And I remember that for some reason, I did not particularly enjoy the shooting process. I don’t know why that was, perhaps because it went on for so long. And it was also excessively uncomfortable.”

By that time, however, Cleese had already tasted solo success, starring as Basil Fawlty in the eponymous BBC show Fawlty Towers. Based on a real life person, Donald

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Sinclair, who Cleese called “the most wonderfully rude man I have ever met,” Fawlty Towers was well-received by audiences, though took time to become the success it is today. But it was enough for Cleese to venture out properly on his own, soon writing and starring in the Academy Award nominated ‘A Fish Called Wanda’, which saw him reunited with former-Python Michael Palin. I wanted to film A ish called Wanda in London, and make it look lovely, what Woody Allen and Gordon Willis did for New York in Manhattan,” he says. Although that wasn’t the end result, the film did, however, create some truly memorable characters. And it’s these characters that will make a return for Cleese’s next project a musical version of the film.

“They asked me if we could try and write a musical of A Fish Called Wanda, and originally I didn’t want to be inhibited or restricted by that, but then I thought: ‘It’s mine, I can change it’. So we changed the last 20 minutes completely – they now escape in a helicopter from London oo, so it’s been great fun changing it. This is leese’s first collaboration with his daughter, Camilla, who is co-writing the musical with him. “We’ve handed the book in, that’s everything except the music, and what we’re trying to figure out now is a deal with MGM, because they own the rights.

“At least in the future if I go out with a lady, they will not be after my money” And the other thing is to get a director who’s going to help us integrate the music, because I’m hilariously unmusical.

I’m so unmusical that when I was in a Broadway musical, they refused to let me sing. I had to mime on stage.”

This will be leese’s first large solo project since ’s Fierce Creatures, which reunited much of the Wanda cast, though failed to make the same impact as its predecessor.

But if an Englishman’s hat falls off, he picks it up, dusts it off, and goes about his day. Cleese’s comedy will always have a core fan-base; those who understand the psychology and philosophy of it, and who can relate to the sti ed emotion, stiff-upper-lip of it all. To them – to us – Cleese’s work is still intrinsically pythonesque, like a collective psychotherapy, a Cooley’s Looking Glass of comedy, rationalising the national identity through irrational characterisation and disparate ideas.

John Cleese, at 72, is still as charming, inventive and vigorous as ever. He is finally working on an autobiography, alongside writing a book on English history. “I’ll never grow up,” he claims – which will come as a welcome relief to us all. «

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Part of the Following on from our last issue, Huw Thomas examines the administrative challenges employers must tackle as autoenrolment draws ever closer.

Process

Despite the understanding that encouraging more Britons to save for their retirement is an essentially laudable ambition, it’s fair to say that few companies are particularly excited about the coming shift to autoenrolment. Times are tough, with the economic climate seemingly worsening by the day. Small businesses in artic lar are facing one of the most diffic lt times in living memory, which makes it particularly unwelcome that they are set to be hit hardest by the coming reforms. The Federation of Small Businesses chairman Mike Cherry effectively summed up the thoughts of many employers when he said that: “It is vital that everyone is able to save for their future, but the automatic enrolment scheme is going to cost the smallest businesses dear. The true administrative costs are unknown and could be extortionate.”

A glimmer of hope for beleaguered businesses emerged in October. Government adviser Adrian Beecroft’s report into possible ways to cut red tape included the suggestion that auto-enrolment could be delayed in order to make life easier for organisations currently struggling to keep their heads above water. However, this potential lifeline was quickly cut by pensions minister Steve Webb, who reiterated the coalition’s commitment to the current timetable. “We need to get on with this now and not to meddle – we need a stable architecture,” he said. “People will react in different ways and we will learn as we go along.”

While this may not be what employers want to hear, it means that they must now look seriously at how they are going implement the systems and processes that autoenrolment will demand. The reality of the situation is that being prepared for its staging date is only a small part of a massive and ongoing challenge that every UK company will have to face in the very near future.

A question of knowledge A key issue is quite simply that a large proportion of employers currently have no pensions provision and

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consequently lack the experience to effectively plan and administer one. According to the Department of Work and Pensions, employers with zero pension provision make up 86 percent of the UK total and employ 40 percent of the workforce. Unsurprisingly, most of the companies that fall into this category are micro and small employers and, as such, are least well positioned to cope with the growing administrative and cost burdens that auto-enrolment will entail.

Who is eligible?

Employers will need to monitor the earnings of workers earning below the income tax threshold over a rolling 12-month period. A spike in earnings may result in a jobholder needing to be autoenrolled. This may happen if the jobholder is paid a bonus or overtime.

Eligible jobholders who are not already enrolled in a pension scheme which meets the minimum requirements will need to be automatically enrolled in such a scheme within one month of becoming eligible. Once enrolled, employers must continue to contribute for as long as the worker earns, even if their earnings dip below the income tax threshold.

Jobholders under-22 or over the state pension age who pay tax, and those who earn between £5715 and the income tax threshold, can choose to join the scheme even though they are not eligible for auto-enrolment. The employer will need to make contributions for those workers.

Jobholders earning less than £5715 can apply to join a registered pension scheme chosen by the employer. The scheme does not need to meet any criteria and the employer will not need to contribute. Employers should be ready to deal with these applications.

Source: www.out-law.com

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Part of the Process

In its report ‘Making automatic enrolment work’, the DWP admits that it is these small employers who will be most significantly affected by the coming reforms. The document states that: “Given the predominance of small and micro employers, this group also has the highest rates of employee churn, between 14 and 17 per cent, and will have to undertake proportionally more automatic enrolment activities per year than other groups of employers. Most will also be making contributions for the first time and thus face the highest proportional costs of all employers.”

The issue of workforce segmentation is one of the thorniest raised by the coming reforms. Determining which employees are eligible has the potential to be an administrative minefield for employers. or example, some workers will not be covered by the auto-enrolment rules due to their age, working hours or salary. However, some of these ineligible employees may take up the offer of voluntary membership of the qualifying scheme and thus become eligible for auto enrolment. In this case they will fill out an opt-in form which employers must correctly respond to if they wish to remain compliant.

“Determining which employees are eligible has the potential to be an administrative minefield” In other cases, workers not eligible for auto-enrolment into the qualifying scheme could be able to join an alternative workplace pension scheme, which the employer must operate either as a separate scheme or as part of the qualifying scheme. While the employer will not be obligated to make contributions to these workers’ pensions, they must still facilitate their operation by deducting contributions from salaries and passing them on to the relevant pension provider.

Additionally, employers must continually monitor the situation of those non-eligible workers who are part of an alternative non-qualifying scheme. Companies will need to be aware of their circumstances in case changes in age or salary render them eligible for auto-enrolment.

Even those employees who opt out of any pension scheme bring their own challenges. It falls to employers to ensure that re-enrolment dates are set and observed, in order that they can remain compliant with the new rules.

What all this makes abundantly clear is that autoenrolment will require considerable ongoing effort on the part of employers, all of which will come with a cost.

Leaving aside an organisation’s responsibility to contribute

Financial Advice: Independent & Impartial

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Auto-enrolment: The Big Numbers

£17.1 billion:

Estimated total additional pension contributions over implementation period.

£77 million:

Administration costs for the 8000 employers with more than 250 staff in first year.

£123 million:

Administration costs for the 576,000 employers with between two and four employees in first year.

£11 million:

Ongoing administration cost for companies with more than 250 staff.

£47 million:

Ongoing administration costs for companies employing between two and four people.

£16 million:

Ongoing administration costs for businesses with just one employee.

to its employees’ pension funds, simply administering the systems will present significant financial implications.

Footing the bill The Department of Work and Pensions have attempted to quantify the per-employee administrative cost of the new rules, but it remains to be seen how accurate these predictions will be. There are a huge number of potential variables in how compliance processes operate and it is likely that a true picture will only emerge once they are actually in operation. As has already been demonstrated, there is considerable complexity involved in establishing and maintaining these systems, so it is not beyond the realms of possibility that mistakes could be made. This is a particular risk for smaller companies who have little or no experience in administering these kinds of programmes.

Correcting any mistakes could prove costly. In addition, compliance failures could draw regulatory penalties in the form of as yet unspecified fines. Taken as a whole, these factors add up to largely unquantifiable additional expenses for firms that are not adequately prepared for the coming changes.

As an indication of what impact the new regime could have, it is instructive to look to the example of Norway. During 2006-2007, the country underwent its own transition to mandatory pensions, Obligatorisk

NOVEMBER 2011 17

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Part of the Process

Recent events such as London’s mployee Benefits Live have given employers and pension providers the opportunity to discuss how they will respond to the advent of auto-enrolment. What has emerged from these discussions is that, while many employers are clearly grasping the nettle and ensuring they have systems in place ready for their respective staging dates, few – if any – have considered how they are going to segment their workforce into the three categories of eligible, non-eligible and entitled.

Even particularly proactive employers who have already begun the process of auto-enrolling their employees seem to have overlooked the subsequent and ongoing necessity to rebalance their assessments as the make-up of their workforce evolves. Salaries and ages will change and employees who initially chose to opt out will need to be re-enrolled. Keeping track of these constantly shifting data points will be essential if systems are to function properly.

In addition this information must be recorded and held for as long as six years under the new system. ailure to be able to produce this data at the request of The Pensions Regulator could have serious legal consequences.

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Administrative expenses per employee faced by different sized companies

45

53

Counting the cost

16 116 140

100

19 2 33 6 27 10 61

“Organisations would do well to start thinking about how they are going to administer these programmes sooner rather than later”

200

Cost per employee (£)

TjenestePensjon in the local lingo, and the difficulties experienced by many employers there are likely to be repeated here in the UK. Consultants Mercer were involved in Norway’s transition and witnessed many of the difficulties first hand.

“It’s tempting for most companies to leave all the preparation work till the last minute, but Norway’s experience of doing so was certainly painful – for employers and providers,” said Richard Tuff, the company’s auto-enrolment manager.

“One of the unintended consequences of Norway’s legislation was the extreme complexity of the autoenrolment requirements, and the UK’s regulations will have a similar effect. The main administrative challenge will be to categorise and track employees on a continuous basis, to ‘catch’ them when they became eligible for autoenrolment. Many employers believe auto-enrolment is a one-off exercise, but it’s much more complex than that.”

0

250+

50-249 20-49

5-19

2-4

1

Number of Employees Initial Cost

Ongoing Annual Cost

Source: Department of Work and Pensions

Perhaps this failure to engage with what happens after the auto-enrolment legislation is activated can be attributed to an excessive focus on simply hitting initial deadlines? Maybe it’s because many companies believe that a staging date a few years into the future gives them plenty of time to get their houses in order? Whatever the reason, organisations would do well to start thinking about how they are going to administer these programmes sooner rather than later. Even if a company’s staging date doesn’t fall until 2014, three years isn’t a very long time in business.

Given the inevitable cost impact of the reforms, long-term plans need to take these extra responsibilities into account if companies aren’t to see already slim margins being eroded further. or larger companies with well-developed human resource and accountancy structures, the potential problems will be less disruptive. But for small and mediumsized businesses, it is imperative to seek advice right away on how best to transition to this new reality without paying too heavy a price. «

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21/11/2011 21:30

Times are a-changin’

’ n i g n a h c a e r a s e Tim Soon financial advisers who want to be able to label themselves ‘independent’ will have to have a higher qualification.

The new requirement forms part of the Retail Distribution Review (RDR), which will radically change the way you receive financial advice – and hopefully for the better. Steve Brice of Lansdown Place discusses further.

In the FSA’s words, the aim of the Retail Distribution Review is “to establish a resilient, effective market, where consumers can have confidence and tr st at a time when they need more help and advice”.

The Financial Services Authority (FSA) is proposing, from the end of next year, to have just two main types of adviser – an independent adviser who offers products from the entire market and will have attained the higher qualification and sales advisers who have not and whose primary purpose is to sell a product from one or more providers Currently advisers are able to offer their clients the option to pay for their advice by way of commission or fees instead. Some will give their clients the option of either, or indeed both, forms of payment, depending on the agreement with the client and at the point before giving advice.

In addition to the proposal to increase qualification levels, the RDR seeks to remove the option for Independent Advisers to be remunerated by commission for their advice.

As such, from the end of 2012, the only options remaining for their clients will be to pay a separate fee in the form of a cheque, which may attract VAT, or to have the fee deducted from the initial investment before a client’s money is invested.

The main reason for proposing this change is to make the fees being charged by advisers more transparent, and to make it clear about the services that customers receive.

Clearly both of these methods will move some way to achieving this.

According to a recent report from Aviva, around three million people will struggle to get advice once the new rules

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come into force, because IFAs will target higher-net-worth individuals after the RDR, who, in theory, are able to pay for their services.

There has long been a concern that the RDR will result in a two-tier advice system, with the majority of people ending up simply being sold products rather than being advised on them. In its current form, the RDR is likely to see an increase in the number of consumers who opt for advice from their local high street branch rather than an IFA. However, given recent actions from one of the banks, if they all follow the message from Barclays after it closed down its advice arm earlier this year, people may not even be sold products – they may have to go it alone.

With auto-enrollment commencing for many employees at the same time, a question that many are asking is: will the workplace become a place where people gain access to financial advice in all areas? Auto-enrolment will start to be implemented by employers from 2012, and by the end of 2016, all eligible employees will have been auto enrolled, for the first time at least, into their employers Qualifying Workplace Pension Scheme. Will this mean that employees who are enrolled by way of this new regime will expect advice on their options at that point? And if left until after the RDR is implemented in 2013, as many employers staging dates appear after this, who will pay for it?

Any company scheme which is reviewed and ultimately deemed to attain qualifying status, prior to the implementation of the RDR and auto-enrollment, may have the option of including member advice post-2012, without additional direct cost to the employer and this may be attractive to some. They will have the option to remunerate their financial advisers in any combination of ways they see fit, which could be important at a time when many employers are looking at ways to reduce and mitigate the increased costs associated with auto-enrolment.

There may be no better time to regularly benchmark the advice employers receive (regardless of their respective staging date for auto-enrollment) than now. The FSA is right on one point – we are going to need more help and advice.

Younger generations certainly face an uphill struggle, and the question facing them is where to seek advice and will they be able to afford it. «

NOVEMBER 2011 21

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21/11/2011 21:31

A Matter of Trusts

A Matter of

s t s u r T

A trust has long been a useful tool to allow individuals to structure their wealth so that they can pass assets on in a controlled and tax-efficient way. Michael Westbrook, solicitor at Burges Salmon, explains more.

The fundamental premise of a trust is the division of ownership of the trust property. Assets are transferred to the trustees who become the legal owners of the assets and assume responsibility for their management and investment owever, it is the eneficiaries of the tr st the eneficial owners who enefit from the trust assets, although whether they and to what extent they do will depend on the terms of the trust.

The trustees may have wide powers over how trust assets are distributed, managed and invested, and could decide when, who and how the beneficiaries will benefit. The extent of the trustees’ powers will depend on the wording of the trust document and also by general law.

Trusts can be drafted so as to create fixed’ interests for specific beneficiaries e.g. A receives the income from the trust assets for their life (the “life tenant”) and on their death the capital will pass to B. Alternatively, trusts may be discretionary. Such trusts are exible in nature allowing the trustees to decide which of a group of possible beneficiaries may become entitled to the trust assets, when and in what way. The beneficiaries of a discretionary trust do not have a right to receive anything from the trust (as opposed to the fixed interest trust , rather they have an expectation or hope. ixed interest trusts can also incorporate a discretionary element and therefore exibility. or instance, in the simple example above, the trustees may be given the power to pay capital to A during their life to the exclusion of B. They may also have the power to pay capital to B during A’s lifetime.

The benefits of a fixed interest trust is that by establishing the trust you retain control over who benefits from the trust assets and in what way. It also gives those who benefit a degree of certainty as to what they are entitled to.

However, this type of trust is relatively in exible meaning that while it may suit the circumstances when it is created, this may not always be the case.

Discretionary trusts by contrast will normally allow the trustees to manage the trust assets as they think fit.

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This allows them to deal with the trust assets exibly and to respond to the personal and financial circumstances of the beneficiaries and the wide tax landscape. However, by transferring the assets to a discretionary trust, you relinquish control over how they are dealt with. This can be tempered by appointing yourself as a trustee and leaving a letter of wishes which gives guidance (albeit not legally binding) to the trustees as to how they should exercise their discretion.

Trusts can be useful in a wide variety of situations such as asset protection, tax and succession planning. This article gives a brief overview of these areas.

Asset Protection – Divorce & Separation The starting point for financial settlements on divorce and separation is to look at the assets each party owns. By transferring assets to a trust, thereby separating the legal and beneficial ownership, you are able to distance yourself from the underlying value of the assets. or this reason trusts are sometimes used a basic means of trying to protect wealth from being divided on divorce or separation.

However, trusts are not a failsafe method of asset protection as courts in England and Wales have wide-ranging powers and will look at all the relevant circumstances in a specific case. or example, if a trust has a nuptial element i.e. it is created during or in contemplation

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of a marriage (though not necessarily by the parties to that marriage), or it names a spouse or civil partner as a beneficiary, a court could vary the terms of the trust and use the underlying assets in the financial settlement. However, the more complex the ownership structure and, in the case of a discretionary trust, the greater the number of possible beneficiaries, the less likely the court will want to do so.

Notwithstanding this, the court may still take the value of the interest in a trust, whether on or offshore, into consideration when calculating one party’s financial position and so it is very important to take specialist advice before establishing a trust if asset protection on divorce of any beneficiary could be a concern Lifetime Tax Planning This section looks broadly at the use of trusts for lifetime inheritance tax IHT planning. However, it is important to note that they also are an extremely useful tool when considering IHT planning on death, not to mention capital gains tax and income tax planning.

Prior to 22 March 2006, there were various types of trusts that you could create during your lifetime which enjoyed special IHT treatment. This meant that you could transfer assets of any value and, so long as you survived the gift for 7 years, the assets would fall out of your estate for IHT purposes, yet you would still have control over them an incredibly useful and widely-used tax-planning tool.

Now, virtually all trusts created during your lifetime will fall within the ‘relevant property regime’, which historically was reserved for levying IHT on discretionary trusts only.

The relevant property regime is complicated. However, generally it means that an IHT charge arises on each ten year anniversary of the trust and when capital is paid out to the beneficiaries. The tax charge on each chargeable event’ is limited to 6% and is sometimes lower depending on the circumstances. The idea is that, over the life of the trust, the total tax will add up to 0 , which is the rate at which the trust assets would be taxed had they been owned by an individual. urther, an entry charge’ of 20 could arise on the value of assets transferred to the trust exceeding your available individual IHT nil rate band currently 2 ,000 .

For the purposes of calculating these charges, a relevant property trust has its own IHT nil rate band in the same way that an individual does. Generally as a result, if the total net value of the assets in the trust is lower than the nil rate band, no IHT will be payable on each event.

The change to the taxation of trusts in 200 was widely perceived as an attempt to stop people sheltering their wealth from IHT in trusts. The main effect was that it restricted the value of assets that you can put into trust without an immediate IHT charge 2 ,000 every years and reduces the scope to use trusts as a tax planning tool, particularly during a person’s lifetime.

However, 2 ,000 every years and double that if a spouse also adds to the trust is often sufficient in terms of what most people may be prepared or able to transfer to a trust. It is also possible to make use of various reliefs and exemptions. or example, agricultural and business assets may qualify for relief

2

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from IHT and could be put into trust without restriction. Also, any excess income you have could be regularly put into trust without using up your IHT nil rate band. ne warning is that the rules on these exemptions and reliefs are complicated and professional advice should be sought before steps are taken.

Succession Planning: Trusts in the Context of Wills When considering how to pass on your assets on death, trusts can be a vital succession planning tool, particularly when there is significant wealth to pass on or when there are complex issues to consider. ne example of how trusts can be useful is as follows Alan and Barbara are a married farming couple and have a thriving and diversified business that includes a factory that manufacturers widgets and a retail outlet. Their combined wealth is almost entirely tied up in the business. They have a young family with children aged between 11 and 16 and only one of them, Charlotte, has thus far shown an interest in becoming involved in the family business.

They would dearly love for all of their children to succeed to the business. ailing that, they would like to give harlotte the opportunity to take the business forward but for their other children to be able to benefit from its success.

As Alan and Barbara both run the business, their Wills can simply leave everything to the survivor of them on the first death. The issue is what to do on the second death. There are complex factors involved here and the requirements of the children and business may uctuate over time.

The best solution here would be to leave the whole of

“Trusts are a valuable tool for asset protection, tax and succession planning” their estate including the business on the second of their deaths to a discretionary trust set up in their Wills with a separate letter setting out their thoughts and wishes. By allowing the trustees exibility, it is possible for them to take account of the circumstances prevailing at the date of the second death and they can therefore make appropriate decisions as to how the children may become involved in the business or otherwise benefit from it.

It would be very important for Alan and Barbara to choose the right people as trustees. Ideally, there should be a combination of people who have knowledge of the business and of the family dynamic.

Trusts are a valuable tool for asset protection, tax and succession planning. They can be suitable for a huge range of situations but they are complicated and there are traps for the unwary. It is very important, therefore, to take professional advice when considering establishing a trust to ensure that it is appropriate to do so and to put in place the right type of trust best suited to your specific circumstances. « For more information on trusts, contact Burges Salmon on 0117 939 200 or visit www.burges-salmon.com

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s d Go

Garden of the

26 NOVEMBER 2011

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21/11/2011 21:34

Garden of the Gods

If I was to throw political correctness to the wind, which I’m known to do, I would call Six Senses hideaway in Zighy Bay the Garden of the Gods.

Zighy Bay is the Six Senses group’s first resort within the Sultanate of Oman and is most certainly a retreat that even the most prolific of luxury travel seekers won’t have sampled. It’s a different kind of luxury; it envelopes you, it welcomes you and makes you the centre of its world. Yes, the norms of a five-star resort are there, contemplates Peter Robinson, but Zighy Bay is a place that asks you to embrace intelligent luxury.

“Intelligent luxury is about exploring the intersection between authentic and sustainable travel”

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ZingyBay_v3.indd 27

Intelligent luxury is about exploring the intersection between authentic and sustainable travel, to showcase the essence of place, what’s unique and original, what locals cherish most about where they live. After all, you wouldn’t want to travel to a place as striking as Oman without witnessing its culture, would you. This leads me onto my only concern when agreeing to review Zighy Bay: I didn’t want to take the team somewhere that endeavoured to place the western traveller in their ‘comfort zone’. Zighy Bay bypasses travel that includes generic experiences focused on ensuring that you are constantly smothered with the familiar, such as chain resorts that look and feel exactly the same in every country they are located.

When we arrived at the gates to Zighy at the foot of the Hajar Mountains on the eastern side of the Musandam Peninsula, there was a feeling of excitement and trepidation: a fairly intense plane journey (as intense as Emirates Business class can be), followed by a two-hour transfer, followed by a 4x4 ride 2100 meters up the Hajar mountains. Once a certain member of our team, who was both queasy from the journey and suffers from vertigo, was silenced, we reached the top of the peak. Vista doesn’t quite cover it. You’re faced with a picture postcard of a mile-long, white, sandy beach and a resort which has been constructed out of local materials to resemble a local village. Six Senses is the best example yet of how Oman is learning to style resorts that unify, rather than dominate their surroundings.

Of course, if a simple three-mile, 2100-meter-high, 4x4 ride is too much for your relaxing getaway you can be transferred to uscat and take the fifteen-minute speedboat ride into the bay. I guarantee you will look like a bond villain approaching a location that even Cubby Broccoli would have been proud of. The third and final option for the seriously hardcore is to paraglide into the resort from 1000 feet with Hristo Arnaudov (Itsu), the resident Bulgarian paragliding expert. Having travelled for some fifteen hours, we opted to revisit this one later in the trip.

When you arrive, you are welcomed into what I can only describe as the world’s most breathtaking air conditioning system; I could have fallen to my knees. I know its cliché to be British and abroad and whinge soporifically about the un inching heat, but degrees elsius is new to me.

Having sat down, been presented with a cold towel, fresh oranges and possibly the most nectarous dates I have ever tried, we were asked nothing more than to take five minutes to cool down. This was welcomed.

Zighy Bay is designed to make you relax. Yes, it has WiFi everywhere and a fully stocked library with desktops onsite we considered moving the office , but you will eventually let the ice-cold plastic and steel that wrap your iPhone fall from

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your hand and embrace the serenity. This includes changing your watch to ‘Zighy Time’ (an hour forward), a concept implemented in all Six Senses resorts to allow you a later sunset and get more into you day. If this truly is the Garden of the Gods, they already know me.

Having taken a well-deserved acclimatisation break, we were introduced to Mubarak, an Omani local who would be looking after us during our stay. He used to introduce himself as President Mubarak, but this year it stopped being funny apparently. As the golf buggies pulled up, we were beckoned in and taken on a short trip through the resort to the private reserve. I listened carefully for children playing and families laughing on the beach; nothing, bliss, a true escape.

Zighy Bay has eighty-two unique villas ranging from 247 to 000 square meters. The majority have private infinity pools, day beds and Majlis, which are traditional Arabic summer houses that circulate cold air. The resort also has the Retreat and the Reserve, two purpose-built hideaways within the hideaway. If you’re thinking of getting married at Zighy Bay, or planning a family retreat, opt for the private reserve; a certain Prince may have been in residence during our stay. We were to stay in the Northern Retreat, which came equipped with its own gym, treatment room, day beds, infinity pool and balconies over the 22 sq meters.

Whoever designed Zighy Bay was really given a strict focus on maintaining the local look and feel – and a blank cheque.

Having stowed away my suitcases and organised my electronics and wash bag (Kartick, one of Mubarak’s staff did this), I decided it was time for a dip in the pool. As I hooked my arms over the edge of the slate-lined pool and listened to the crashing waves, not even the outstanding invoices crossed my mind – that’s relaxation for you. Having spent most of the morning sleeping and sunbathing, we were awoken by a team of staff and a gentleman in full chef ’s attire.

I hadn’t told the team, but these gentlemen were here to prepare the villa for a private barbeque on the pool deck under the stars. Once we were all dressed head to toe in linen, we sat down for a true dining experience. Cliché alert: possibly some of the richest humus I have ever had. Not to mention the lamb steaks – divine. If you are a true foodie,

28 NOVEMBER 2011

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Zighy Bay will not disappoint. When you travel to Oman, you don’t expect Heston Blumenthal, but we didn’t need him; we had Steven Wilson. A less extravagant name, but no less extravagant food. Having eaten and been merry, we decided that enough jetlag was enough and retired for the evening to our three-hundred-count Egyptian cotton sheets.

In the morning, I made the conscious effort to wake and watch the sunrise, something that we evidently take for granted in the Western world, possibly because it’s hard to observe behind the concrete. As the warm sun rose from the ocean, I remember thinking it was majestic. No one else had managed to join me on the beach for this which made it that much better.

“This thrill-ride lasts for what seems an eternity” Having woken the team, we headed off up the sandy road for breakfast. There are no cars in Zighy Bay, less the golf buggies, which you can’t begrudge, and each villa is also given ample bicycles for guests to get around. I’m told that if you return to Zighy Bay a second time you are given your own bike with personalised license plate – made from wood of course. That’s a touch. Breakfast was an assault on the senses. Having travelled a fair bit, I’m used to seeing every nationality’s standard breakfast covered in the buffet, but this was exceptional: not a fruit missing, fresh smoothes, pastries, honeycomb (where do they get honeycomb in the desert?), French toast, Eggs Benedict. Gluttony is not an attractive vice, but it was the first day and besides, I was on holiday.

Not wanting to wax lyrical about the food, but the barbeque around the central pool was also exceptional. Amongst the king prawns and lobster was qergr, a local fish caught in the bay, which was sublime. This gave us the opportunity to engage with our fellow guests, who were a real mixture of magnates, close-knit families and well-tanned retired couples.

As with all things at Zighy, you are asked to embrace intelligent luxury, in this case the simple pleasure of walking

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Garden of the Gods

back to your villa after dinner along the beach, with the moon shining onto the Gulf of man. This became a firm favourite every night. I had called ahead and asked if some drinks and snacks could be laid out. Mubarak said, “Kartick has already done this for you.” They really don’t miss a trick; nothing is too much to make your stay special. After a few drinks we said goodnight and retired, a busy day awaited us in the morning.

We woke promptly at 10am and made our way to the famed Spa at the top of the resort. The spa reminded me of an ashram, calming and secluded. We were happily greeted by Chandra and her team who made us a blend of ginger tea, a beverage like no other I can assure you; its smell filled the reception area, with its stained glass and soft furnishings and created an aroma of tranquillity. They have a wide-ranging menu of regional and Six Senses signature treatments that focus on holistic and pampering therapies using only natural products. I opted for the holistic massage with Parkil (Art). Having drunk two cups of the Spa’s elixir like tea, I was already fairly horizontal. After an hour with Art you couldn’t move me. I was taken to the relation area and given another cup of the heavenly stuff and asked to relax for at least twenty minutes. “Yes, I can do that,” I answered. One of the spa’s most unique features is an ice-cave, which was refreshing and innovative, but I lasted all of five minutes. I would have stayed longer and taken in another cup of the elixir, but we had business to attend to: a Bulgarian paraglider called Itso was waiting for us some 1000 meters atop the Hajar Mountains, with Ishanka Peris (Shankar) waiting to throw us off.

On the drive up the mountain it seemed insane to have spent the last hour finding a sense of inner calm and en only have it scared out of us. But planning was never a strong suit of mine.

As you’re strapped into the harness and Itso explains the safety procedure as you sign the ‘waiver’, you wonder what the hell you are playing at. Paragliding would always involve heights, I knew that, but until you’re stood on the side of a mountain strapped to a Bulgarian man shouting “run”, it doesn’t hit home.

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Of course, once the wind takes you higher and higher up the mountain side, in sight of neighbouring villages, you realise what a stroke of genius this is for the resort. Having never paraglided, I have since skydived; this was a real experience for me. You are still conscious, however, that you’re thousands of feet up. It’s the silence that gets you.

And maybe the jagged rocks beneath you. This thrill-ride lasts for what seems an eternity, until you find yourself over the water of the bay, banking into g-force-inducing spirals that lose hundreds of feet in moments. Once we were all safely on the ground, we shared stories of discussions with Itso held at 1200ft about life, work and love. It seems that the altitude and the exhilaration left us all with our own experiences. Great memories.

Zighy Bay’s policy stands for: Sustainable, Local, Organic, Wellness, Learning, Inspiring, Fun, Experiences.

And so, the SlowLife experience didn’t end there.

Our next junket was aboard a boat from the sustainable onsite marina. There were three of us with the boat to ourselves for the sunset cruise; the lack of other bodies did not matter – more champagne and canapés for us.

Creature comforts are obviously the norm at Zighy Bay. The sun, however, decided that it was not the time to make an appearance, but it didn’t deter us. Our captain and Shankar were once again there to steer the boat into a beautiful cove for some snorkelling. Having spent almost an hour pruning gently in the Omani Gulf, we realised that the water had started to get a little choppy. In the evenings, we had been treated to the most beautiful lightning storms over the ocean, so we knew what was coming. As the water picked up, we were beckoned back to the boat, fearing that it was getting dangerous we briskly swam back, only to arrive as the champagne was getting warm and Adam was soundly finishing off the canap s. As we clambered back aboard the boat, the sun broke through the clouds and hit the vessel like a lightning bolt from the gods. Every trip, every person, every meal; everything at Zighy Bay goes toward crafting a perfect experience for you. This was just that. There was five-minutes of up and down that had something to do with the anchor, but either way, it didn’t take long and we were

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gunning our way back along the coast to the marina – less bond movie this time, more Rolling Stones video.

The day was over, but the evening’s entertainment was just beginning. Looking over the Omani Gulf, it seemed like it couldn’t get much better.

The highlights of dinner that evening, apart from overlooking the Omani Gulf from the Wine Tower, included creamy snow pea soup with crème fraiche, toasted pine nuts and truf e oil. Bay fresh Scottish scallops with sweet and sour papaya pickle, basil leaves, pomegranate vinaigrette and micro cress. The list goes on. The chefs at the resort are without doubt on-point. However, we did feel bad watching the waiting team go up and down three stories no less than ten times, so when the chef came up to assess our satisfaction, we insisted he join us for a drink. Once again, we may have thrown political correctness off the Wine Tower, given that we were in a dry country, trying to encourage people to imbibe with us. We were intending to show our gratitude and thankfully that’s how it was received.

Having once again walked back along the moonlit beach, we changed into robes and sat out on the deck to watch the thunderstorm roll in. It had become somewhat of a ritual.

When your alarm goes off at am and you’re on a relaxation kick, you obviously have something important to get up for. We had scheduled sunrise yoga with the resort’s guru, Vishnu Prasad. He’s somewhat of a local celebrity amongst the staff in the bay, and as unassuming as he was, you could tell why he was liked so much. I have never taken a yoga lesson in my life, let alone from someone as internationally renowned as Vishnu. Vishnu was initiated into yoga practices and teaching by His Holiness Swami Mahadevanandji Maharaj and Shivaswarupananda.

He started his practices from childhood and encourages everyone to adopt his motto ‘be healthy and be happy’.

There are many forms of yoga embraced by the western world, and I’m sure the glitterati will shoot me for saying this, but yoga has become a heavily marketed commodity.

“Who’s your Guru?” Madonna asks Victoria.

Vishnu practices Yoga in the oldest forms. He tells us that many of today’s practices, such as Bikram yoga, fundamentally go against the mantras of the centuries-old practice. We arrive on the Spa’s roof-deck, overlooking the bay, for our first taste of this global phenomenon. He teaches us breathing techniques to in uence the ow of energy channels (pranayama), which genuinely worked wonders for me. We run through what I perceive to be the known positions towards the sun and the earth (Hatha), and assisted stretching. Before we know it, the sun is rising over the ocean and we are enveloped in a warm haze: “And there is the sunrise,” says Vishnu. I have to say that I found this session so in uential that I continued to practice on the beach every morning that week.

Even with this list of cornucopian pursuits, there was still more to come. As we had reached the top of the Hajar Mountains on our arrival, some days earlier we spotted another Bond-esque complex in the side of the mountain.

Given that we were heavily into our game of ‘spot the goat’, we gave it little thought. As with most travel beyond the

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resort’s sandy lanes, a 4X4 is the best mode of transport. As you arrive at the entrance to ‘Sense on the Edge’, you really don’t know what to expect. It looks a beautifully crafted LA home designed by rank Lloyd Wright. But inside you find all the trappings of the Zighy Bay lifestyle: soft furnishings and low lights. It’s a very natural setting with the most astounding views of the entire bay, and a menu that mixes traditional produce with unconventional form. We dined on coconut and lemongrass-poached lobster, mango and papaya chunks, passion fruit jelly, soya pearls and tamarilo coulis.

Six to seven grade Wagyu beef, miso-marinated Wagyu beef with sweet potato puree, bok choy, roasted pumpkin and yuzu raisin jus.

As we sat overlooking the moonrise, laughing and eating together, I contemplated our departure the next morning.

We had spent just under a week at Zighy Bay and packed so much in. I have never stayed at a Six Senses resort before, despite them having enough accolades and awards to declare ownership of a Conde Nast ceremony. Zighy Bay is a very special place a place for re ection, a place for fun, a place for indulgence, a place that you make your own. We all have a place, a trip that we can recall memories of and recant to friends and relatives, trying to give them some semblance of the experience that we encountered. Zighy Bay is my trip, my experience, and my brief but ever so gratifying journey to the Garden of the Gods. « Visit: www.sixsenses.com to book your escape.

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22/11/2011 14:44:38 21/11/2011 21:35

A Night in Kensington Town

A Night in Kensington

Town

In the heart of residential Kensington bliss is the legendary Blakes Hotel. With only word-ofmouth as a guide, my expectations were high.

I got out of a cab to a horrified driver, who was glaring at me for my ignorance; I didn’t realise Gloucester Road tube station was a mere £3.40 journey away. Rhiannon Smith gives us her verdict on Blakes.

A charming bell boy greeted me and whisked my bags away into the most mysterious and wonderful lobby I’ve ever seen. The decorations were muted and dark, with low orange lights placed throughout the room, illuminating the intricate wallpaper and art work. The large antique mirrors helped make the room feel more open and added to the atmosphere. After a change in light, the second thing that I noticed was the faint sound of tweeting coming from inside the lobby; once my eyes had adjusted, I could see the enormous ornate bird cage in the corner and two beautiful budgies zooming around inside. The central feature was an enormous wrought iron staircase leading down into the suave bar and restaurant area, where there are at least three groups of Kensington socialites at any one time.

The reception is grand and welcoming, manned by staff who seem as if they’re straight from the catwalk and magazines. I’m checked in by a gorgeous and friendly blond and offered my complimentary drink, which I ask to be

“You have to go into Blakes with an open mind – expect anything” brought to my room. I’m helped to my room by the same charming doorman, who takes the stairs while me and my suitcase barely fit into the age-old, seven-by-three-foot, 0s wooden elevator. I get to my oor and am led through the similarly-decorated hallways as the lobby dark grey wallpaper broken up by intricate and unusual vintage paintings and ornate light fixtures lighting our way. arrying on with the vintage vibe, I unlocked my room with a heavy gold key and was transported to what felt like a new world.

My room was decorated entirely with black and orange stripes – and I mean entirely. I imagine it wouldn’t be to all people’s tastes, but you do have to go into Blakes with an open mind and really expect anything.

The sofa, the wallpaper, the cushions, the bedding – everything was black and orange stripe, which was stunning, if not a little dizzying. The bathroom was a homage to 0s glamour bright, with white walls and golden marble finishes throughout. The heavy wooden shutters on the windows acted as Blake’s version of curtains and added that extra air to the luxurious bathroom. With the bathrobes provided, and my complimentary drink on its way, I unpacked and made myself at home. From check in to check out, turn down service to efficient bar staff, I was treated by all staff like a true ensington A-lister.

If you’re looking for classic interiors, grand open rooms and hallways with cream and white colour pallet use throughout, then Blakes is definitely not for you. The eclectic vibe carried throughout the hotel leaves you wondering what could be around each corner. Blakes is high on my list of places to see and stay in London, but is certainly not for the faint-hearted « For more information, visit www.blakeshotels.com or call 020 7370 6701.

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we were not the only ones impressed by the unexpected bush breakfast.

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Valuable Peace of Mind in Uncertain Times

Valuable peace of mind in uncertain times You couldn’t have helped but notice we’re living in uncertain times – you only need to look at the sovereign debt crisis in Europe and the threat of recession across many developed economies. Meanwhile, UK economic growth is sluggish and the Government is trying to avoid a ‘double dip’ recession with a further round of quantitative easing.

Many people have been impacted by these events but are seldom mentioned. You may be one of these people.

For those near to or already in retirement, and looking to invest their savings for growth or to supplement their income, it s a diffic lt time with challenging decisions to be made. Interest rates are at an all time low and the UK stock market has seen dramatic swings over the last 6 months. The FTSE 100 Index has fallen from over 6,000 to below 5,000 and is back at 5,547 on 14 November – that’s a lot of change. Nobody can predict where markets will go next. What is certain is that they are erratic and this can play havoc with the decisions you have to make.

This uncertainty is worrying for investors, especially if you’re to protect and grow your retirement pot to help maintain your standard of living in retirement. With low interest rates expected to stay for the foreseeable future and continued roller coaster stock markets, it’s difficult to know where or how to invest for your future. Ask yourself this question – could I afford for my income to reduce or start using my capital to supplement my income needs?

Unit-linked guarantees You may want to consider unit-linked guarantees or variable annuities as they are sometimes called. These innovative investment solutions were first introduced in the UK about 5 years ago. They’ve been around for much longer in the USA and Japan where they’re now a core part of retirement investing for those who are typically cautious investors.

Unit-linked guarantees let you invest in a portfolio of assets but they limit some of the risk of investing in the stock market by providing protection in down-markets and the opportunity at the yearly reviews to lock-in investment gains in up-markets. They offer lifetime income guarantees and

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capital guarantee between 8 and 20 years that can go up but will never go down unless you take additional withdrawals.

This can be very appealing as people are now living longer than ever before and need to make sure their retirement income and capital doesn’t run out. Remember that investment returns may go down as well as up.

The capital guarantee applies at the chosen term only.

Out with that term, you may not get back the amount you originally invested.

The only circumstance in which the guarantees wouldn’t apply is if Scottish Equitable plc or AEGON Ireland plc failed. In this event, the benefits from the bond or plan may be affected.

They’re also tax-efficient capital can be accessed in case you need it and they can be passed onto your estate upon death. They can also help trustees of Self-Invested Personal Pensions (SIPP) and Small Self-Administered Schemes SSAS fulfil some of their responsibilities.

Insuring your retirement The security offered by unit-linked guarantees provides some valuable peace of mind for investors. You could compare the guarantees to the security and peace of mind offered by car, house and even pet insurance. As investors are effectively passing more of the investment risk onto insurers such as AEGON, there are additional costs involved.

However, AEGON research carried out in 2009* showed that nearly half (47%) of those people said 0.5% to 1.5% of their retirement pot each year is a fair price to pay to insure their income never fell, never ran out and had the potential to increase over time. The remaining 53% think that an insurance premium of more than 1.5% of their retirement pot each year is fair.

The actual charge depends on the plan and the investment choice you choose.

Securing your future Unit linked guarantees are now coming of age as people start to appreciate their value and the security they offer.

While they may not be suitable for everyone, they should at least be considered as part of an overall portfolio if you’re looking to secure your retirement. « *Source: AEGON At Retirement Report, 2009 If you’d like to find out more visit AEGON’s website at www.aegon.ie (look under ‘Guaranteed Solutions’), or talk to your financial adviser.

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. . . y a w the

Leading

The key to truly effective leadership lies in mastering a wide range of skills from implementing and administering process to inspiring others to achieve excellence.

To be an effective leader you need to make the most of opportunities to learn to lead, whether by observing others, through formal training, or through careful evaluation of practical experience. Serial entrepreneur and business consultant William Montgomery has worked with a who’s who of high-profile professionals, many of whom join him on his annual leadership cruise – the next of which takes place aboard Star Clipper, sailing out of Venice on 29 July, 2012. Here are William’s ten actions for mastering leadership.

1. Focus on quality The aim of leadership is to help others to achieve their personal best. This involves setting high but realistic performance goals for yourself and your team, finding ways to improve operations and procedures and striving for quality in all areas.

2. Develop your strengths All the attributes that you will require as a leader can be developed, even drive and energy. Self-confidence and self-determination, combined with an ability to manage people and money, will make you a strong leader who can attain targets.

3. Exercise your authority The role of a leader is to ensure that everyone understands instructions and carries them out effectively. Since it is rare for everything to go according to plan, put in place reporting systems that enable you to deal with any deviations swiftly.

“You should concentrate your time on activities that nobody else can do”

4. Delegate tasks As a leader, you should concentrate your time on activities that nobody else can do. Delegation is a form of time management. It is a way of exercising control and meeting your own responsibilities more effectively while developing the skills of your team.

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Leading the Way

5. Communicate clearly The ability to communicate with your team is essential in leadership. To ensure that messages are received and understood all the way down, atten the hierarchy of your team structure. To keep communication two-way, invite feedback from your team.

9. Generate ideas A leader does not have to be the most inventive person in the team. But as a leader, you need to release the potential for generating ideas that exist in each individual. This will help in both achieving a vision and resolving day-to-day issues.

6. Make a decision All decisions involve a series of other decisions, notably when to settle the issue, who else to involve in the decision-making process, and what alternatives to consider. Get these decisions right and you will be able to make the correct move.

10. Be competitive Entrepreneurs, people who spot and take a new business opportunity, are inspirational leaders who know that it is vital to accept the risk of failure to achieve anything worthwhile. Emulate such people by seeing risks and threats as opportunities. «

7. Set goals Goals are the essence of planning, whether for the long, medium or short terms. They should be ambitious but achievable. Set stretching, hard-headed, but feasible subgoals to help your team attain their ultimate goal.

8. Motivate others People are capable of remarkable achievement if they are given the right motivational leadership. To mobilise a team’s inner drive, enthusiasm, and vigour effectively, you need to be a credible leader who sets an inspiring example.

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To subscribe to William’s free weekly email: 10 things you didn’t know last week, which includes tips on how to achieve leadership excellence, visit askten.co.uk.

The next leadership cruise is taking place between July 29 and August 2 next year in Venice. For more information please visit www.askten.co.uk/cruise

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The Power of

s d n e d i Div

“Over time, a strategy of owning stocks that consistently grow their dividends can be a very successful method of accumulating wealth. My approach to income investing is to identify companies that have the discipline to steadily increase the level of dividend they pay rather than to seek out those that provide the highest yield.”

Stuart Rhodes, Fund Manager of the M&G Global Dividend Fund.

Focus on dividend growth Traditionally, dividend investors have focused on the dividend yield that shares offer (the dividend yield is calculated by dividing the past year’s dividends by the current share price). However, I believe that concentrating solely on dividend yield can be a awed strategy as a high yield is often a sign that a company is in trouble. Therefore, when identifying potential investments, I look for companies that can increase their dividend in a sustainable manner over the long term.

Income is the dominant element of total return Investing in companies that are growing their dividends has proved to be a successful strategy in the stockmarket over the long run, as the chart below, of the returns delivered by US equities, illustrates. Since 1972, shares have performed well, despite the ups and downs of the investment environment. However, investors would have fared even better if they had focused on the companies that were either starting to pay or growing their dividends since they delivered far superior returns over the same period. (The scale used reduces the actual difference.)

Progressive dividend policy – a good discipline for companies I believe that a progressive dividend policy helps a company improve since a firm has to grow its business to support a rising dividend stream. A rising dividend stream restricts the amount of cash that can be reinvested in the business and therefore means that only the best projects are likely to be selected. Companies that embrace this disciplined approach to capital allocation, wherever they are in the world, have generally been rewarded with good share price performance. The chart on the next page shows that, over the past 10 years, ‘dividend achievers’ (US companies with a 25-year or more record of consecutive dividend growth) have

The power of dividends Past performance is not a guide to future performance.

The S&P 500 Index measures the change in price of the 500 largest companies traded in the US. It is generally representative of the US stockmarket.

The S&P 500 Geometric Equal Weighted Total Return Index measures the change in price and the income received from the 500 largest companies traded in the US, each company makes up the same percentage of the index.

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21/11/2011 21:44

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Tucked away in the back alleys of the Old City, The Rummer Hotel not only boasts the most extensive spirit collection in the region, fine wines and local ales but an eclectic menu of modern British dishes prepared by Head Chef Greg McHugh from the freshest local ingredients. Just remember to make a reservation during busy times... email: info@therummer.net | www.therummer.net

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22/11/2011 08:06 21/11/2011 23:10:38

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performed significantly better than the S P 500 Index in capital terms, demonstrating that capital discipline has delivered superior returns. When the total return, that is, the combination of income and capital growth, is considered, the performance is even more impressive. It is worth noting that the capital return, that is, the change in price, of the dividend achievers is higher than the total return of the market as a whole, showing that capital performance need not be sacrificed for income.

A world of income opportunities By searching for dividend opportunities on a global basis I believe investors benefit from exibility of choice and valuable diversification. There are many companies in different sectors worldwide that have been able to demonstrate excellent capital discipline through dividend increases year after year. The US market offers the widest range of outstanding dividend-paying companies, including the 91 ‘dividend achievers’ mentioned above. In Europe, too, there are plenty of firms, such as estle and Roche, which have good capital discipline and the potential for long-term dividend growth. urther afield, there are attractive dividend opportunities in Australia and Brazil. In both countries it is possible to find companies with excellent management teams, as well as good growth prospects. They also benefit from regulatory environments that are favourable for dividends. For example, Brazilian companies are required by law to pay at least 25% of their earnings as dividends.

Paying too much for comfort To me, the benefits of investing in companies with rising dividends are compelling, although well-managed businesses with good capital discipline can be expensive. I prefer to look for good investments rather than just good companies so I try to avoid overpaying for companies where dividend growth appears certain. These investments, where the purchase price is high, run the risk of delivering a reduced capital return.

The importance of having a balance Many of the companies that provide consistently rising dividends are in industries that are less reliant on increasing economic activity, such as healthcare and food manufacture.

In order to counteract the traditional defensive bias of equity income strategies, I try to construct a balanced portfolio that can also perform when markets are driven by an improving economic outlook. I select companies with long-term dividend growth potential from three different sources of dividends. The core of the fund is made up of high-quality, defensive multinationals, such as ohnson ohnson, which are able to deliver consistent dividend growth. I also invest in asset-backed companies with good capital discipline in economically-sensitive industries and rapid-growth companies that are experiencing fast increasing revenue

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that can be translated into dividends for their investors.

Having different sources of dividends, but with the common characteristic of strong capital discipline, can help the fund perform in a variety of different markets.

Bright outlook for dividends The uncertainties in the global economy, including the debt crisis in Europe and declining growth, are unlikely to be solved immediately, although I believe that the indiscriminate selling that has taken place in the equity (share) markets has created some excellent opportunities for stockpickers with a long-term investment horizon. My approach focuses on a company’s basic qualities and, specifically, its ability to deliver long-term dividend growth. I do not take background economic factors into consideration. We continue to see healthy dividend increases from many companies in the fund and I am confident that a disciplined, as well as diversified, approach based on company fundamentals is an excellent way to create wealth for the long-term investor. « Important Information Prices and income may fluctuate and you may not get back your original investment. Investment decisions should not be based on past performance as this is not a guarantee of future performance. The value of overseas investments may be affected by currency exchange rates.

Source of Brazilian Law: Standard and Poor’s Country Governance study. The M&G Global Dividend Fund is in the IMA Global Sector. This financial romotion is issued by G Securities imited w ic is aut orised and regulated by t e inancial Services Aut ority and rovides investment roducts. e registered office is Laurence Pountney Hill, London, EC4R 0HH. egistered in England No. Nov

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21/11/2011 21:45

Cream of the Crop

m a e r of the Crop C

When we learnt that the team behind the influential Hyde & Co were opening another prohibition speakeasy, I have to say, a small fight broke out as to who would cover this new saloon nestled in Bristol’s city centre. Nathan Lee, the owner, has had huge success creating a great ambiance at Hyde & Co; could he go two for two?

Having won the coin toss, Peter Robinson takes us behind the velvet curtain at The Milk Thistle.

The Milk Thistle Bristol, BS1 1EB Tel: 0117 9294429 www.milkthistlebristol.com

Having been open for only a few months, The Milk thistle is already gaining a sterling reputation. But what was the modus operandi when conceiving the idea for a members bar in Bristol? Nathan tells me that the city is growing up. “It’s gaining independence and an appreciation for quality cocktails and superior service de o was his first vent re and it’s a bar that tops my list of establishments to take friends and family to. But the Milk Thistle may well take the top spot.

It’s an impressive sight to behold as you walk into the lobby of Quay Head House; you’re greeted by grand portraits in métamorphoses du jour and anthropomorphic taxidermy. For those of you that aren’t aware, taxidermy is seeing a grand resurgence; the fox with a bow tie is a particularly nice touch: BOOM BOOM. I wonder how many man-hours Nathan put into securing the right furniture, fixtures and fittings It’s styled in quirky ictoriana with a hint of colonial outpost,” he tells me. I’m known for my love of heritage and the Milk Thistle pays homage to the eccentric side in all of us. Before Nathan got his hands on the property, a South American Restaurant, a charity and the erchant entures Society had all used it over the years. There is a great sense of tradition to the building and, to my mind, an air of secret society clubhouse. ne of the most unique attributes of this new Bristol beau is its member policy: membership can be secured for £250 per annum and entitles you to an array of benefits, including a complimentary taxi service to the bar, use of the private rooms, entry to society events and, my personnel favorite, storing a bottle of your favorite tipple in the society cabinet. I have tried to build on people’s personnel experience when they’re here and build on that; to add ten percent to everything. I think if you do that, then the overall product becomes really strong. You can already book the top oor for dinner parties of up to eighteen people for an a la carte offering, courtesy of Tom Green, aptly named the avor-smith’. ot surprisingly, The ilk Thistle caters to all tastes and budgets.

If you’re still thinking of where to bring in 2012 – and let’s be honest, no one’s bought tickets yet – then the hottest ticket by far has to be ‘The Bootleggers Ball’. rinks and canap s will be owing left, right and Charleston, and are included in the ticket price of £90 for members and 00 for non-members. As if there weren’t enough benefits of membership already, there will be burlesque show girls, a honky-tonk pianist and a macabre magician. You won’t be disappointed at midnight either; Nathan has something spectacular planned, I assure you.

The Milk Thistle is without doubt a showstopper; the pièce de résistance of a growing culture of exceptional bars in Bristol, manned by the finest cocktail artisans and sommeliers. I urge you to pay the team at The Milk Thistle a visit – and I’m being generous sharing it. Remember: we almost came to blows in the office over who would visit in the first place. « For more information, visit www.milkthistlebristol.com.

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27-29 Baldwin Street •Bristol •01179 300 350 www.hushhairbristol.co.uk AD_MP.indd 1

22/11/2011 11:26:18

Bringing Wine Back Home

Bringing wine

e m o h k bac As the festive season gets into full swing, we can all delight in the finer fare of this green and pleasant land, as we overindulge at numerous Christmas parties. Before reaching for that bottle of French carbonated wine with a fancy label on it, and an even fancier price tag, you should really consider whether you want to support the French in their long campaign of claiming great English inventions as their own.

Brett Hirt sets the record straight.

They claim Concorde to be a French plane, the crème brulee to be a French dish, and sparkling wine to be a French drink. Concorde was a British design, the crème brulee was originally the ‘Cambridge Burnt Cream’, and sparkling wine was invented by a West Country gent called Christopher Merrett. He used techniques from the cider ind str to ma e the wine fi , and crucially, invented the stronger glass needed to prevent the bottles exploding, decades before Dom Perignon.

for their truly magnificent wines. The south coast of ngland also shares similar soil and geology to the Champagne region; the chalk seam found there reappearing from under the hannel, across the Sussex and Hampshire downlands. Add a few slopes and some cool English nights, and you have the perfect recipe for growing the grapes required for an excellent sparkling wine. o wonder there are rumours of the large champagne houses making offers for nglish vineyards.

Thankfully, over the last few years, English wine makers have been hard at work taking the sparkling wine world by storm with excellent wines, and emblazoning their bottles with references to the great man and his method of production (called “methode champenoise” by producers across the water) 350 years after Merret invented the process, producers like Camel Valley in Cornwall, and Ridgeview in West Sussex are picking up international trophies and gold medals

Camel Valley The first vines were planted on the sun-drenched slopes of the amel alley ineyard in 8 . This family-run vineyard has received recognition in both national and international competition, and has a slew of awards to its name. The 200 amel alley Brut is a delicious, silver medal-winning wine, which is vibrant and fresh with a glorious amount of bubbles. It could easily be confused with a hampagne Grande arque.

Ridgeview Ridgeview urvee erret Bloomsbury 200 , from West Sussex, is another fine example of nglish winemaking. It is from a family run vineyard, growing classic varieties of grapes in the South owns of ngland. The hardonnay, Pinot oir and Pinot eunier grapes used in this wine have been cultivated here since . The wine is a full and rich example, with citrus and toasty notes, a long dry finish and plenty of lovely bubbles. Ridgeview, too, has collected numerous trophies and awards for their truly wonderful wines. « To purchase any of these excellent wines, please contact Great Western Wine on 01225 322810 or visit www.greatwesternwine.co.uk

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Thrown into the public eye by way of Dragons’ Den, James Caan achieved a cult-like status as the relaxed, smooth-talking alternative to the show’s acid-tongued investors. He spends much time helping start-up businesses, best exemplified by a school he runs with Bev James: The Entrepreneurs’ Business Academy. James’ story starts at Alexander Mann, a recruitment company he founded at age 25, and sold for a reported £93 million in 2002. We caught up the former Dragon to discuss his thoughts on business leadership.

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James Caan Interview

That Caan Do Attitude Financial Advice: Independent & Impartial

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How did you learn to be such an effective leader?

I always knew I wanted to run my own business, from years of watching my father build his own business from scratch. So when I started out some 30 years ago, I had a good sense of how to approach business and importantly I believe I have always had natural leadership skills. Leadership has to come from the top of an organisation, authentically. Your staff need to believe and buy into what you say, do and stand for. But I am passionate in getting contributions from all levels of the business because you never know where the next innovative idea is going to come from. Your leadership style is an important part of staff retention. You want your staff to feel valued without the responsibility of “taking the heat” if something goes wrong.

Can you name a person who has had a measurable impact on you, and why?

My father was a very driven and inspiring man. It’s clear to me now that part of the reason I am in business and as successful as I am is because of my father’s sheer dedication and focus all those years ago. When he came to the UK, he had no money and couldn’t even speak English. He started a clothing business from nothing and built up a successful business supplying west London boutiques. He always taught me that business relationships should be based on a win-win protocol. He said you should always do a deal that either your client or your supplier is happy with.

You set up The EBA with Bev James. What’s it about, and why did you get involved?

The Entrepreneurs’ Business Academy (The EBA www.the-eba.com) was created by Bev and I and launched in March 2010. Its aim is to provide start ups and business owners with the skill-set and mindset of successful entrepreneurialism. As Bev says, “you don’t need a licence to be an entrepreneur.” The failure rate of businesses saddens both of us. You have to have more than a great idea. You need the drive, determination and knowledge to make it happen.

We have a wonderful membership now in the Academy, all of whom have grown immensely, and all are so diverse with different challenges. It won’t be long before we have our first self made millionaire too. Success isn’t always about money though. For some it’s about the opportunities that wealth can enable them to fulfil.

What is one characteristic that you believe all leaders should possess?

A leader should be a visionary. They need to inspire others to join them on their journey, to believe in the vision and what is trying to be achieved.

What is the biggest challenge facing bosses today?

Employee engagement. If you believe that the greatest asset of any organisation is the people in it, the key question must be, “What are you doing to enhance the greatest asset of your organisation? What are you investing to maximise its development and/or potential?” In most businesses that I come across, there is no budget for people development and that’s largely down to the post-recession culture of budget cuts. Every business should take a step back and think about what they are doing to engage staff and ensure they reinforce staff retention.

Is there anything you do to ensure you continue to grow and develop?

I never stop learning as a leader. I’ve achieved so many of my goals, but I feel there is so much more to do. I turned 50 this year and in a way it felt like a new beginning. Through the work of the James Caan Foundation, I’ve found new and satisfying goals by using my business and leadership skills to help good causes.

I also believe that you can’t micro manage people – human beings love to step up to the plate and show they can. I love that too. A collaborative organisation is vital for bottom line success. I tend to exhibit a very people-orientated democratic style. There’s nothing more I enjoy than sitting down with my team at Hamilton Bradshaw to gather their ideas and input on new projects. I find working collaboratively not only stimulates staff, but it’s also essential to identifying people’s strengths, and is the key ingredient behind any business’ success.

If someone wants to become a better business-person, how should they go about it?

Come and see what The EBA does. This is the best starting point. www.the-eba.com. «

NOVEMBER 2011 43

21/11/2011 21:48

The Exclusive Magazine For

Lansdown Place

Where once golf club car parks would have resounded to the roar of eightcylinder, gas-guzzling executive saloons, these days they echo to the muted oleaginous thrum of beautifully refined, and parsimonious, six cylinder turbodiesel engines, and none is more so than the oil burner nestling in the nose of Audi’s delicious A7. Graeme Morpeth goes for a spin.

The A7 is an über-smooth executive cruiser, with performance capable of embarrassing most sports cars. The test car, equipped with a 247 bhp engine (also used in the Porsche Panamera), and Audi’s excellent Quattro all-wheel drive system was something of a revelation; an Audi that steered, all pointy and darty with pin-sharp turn in, straightening the corners, and fast enough to shorten the straights thereafter. And it’s an Audi that doesn’t ride like a fast roller skate – far from it, this A7 rides like a Roller, smoothing the lumps and bumps and taking broken surfaces in its stride, giving drivers and passengers a wonderful cosseting ride. It is a supremely comfortable place to be, especially the driver’s electrically controlled seat with built in rump-warming for those colder mornings - hüten ein sehr heißer Hintern!

The design is typical Audi. Bauhaus simplicity from Walter de’Silva, Audi’s design guru, with perfectly cohesive curves and lines: a slightly threatening look from the dragon’s eye LCD running light strings under the headlights assertion rather than aggression; and shut lines to die for. They could have been drawn on the bodywork using a fine point pencil. The novelty of a self opening and closing boot lid never wears off, and you could even learn to live with the gaping gill radiator, an homage to the fearsomely fast, and equally dangerous 6 litre V-16 Auto-Union D type racing cars of the 1930s.

The interior is equally well finished. The test car had swoops of brushed aluminium providing highlights in an interior of elegant and functional simplicity, with some lovely touches; a heads-up display to remind the driver of speed limits on busy, speed restricted roads; voice activation for the sat-nav and Bluetooth phone systems; and an intuitively easy-to-use MMI (I like Man Machine Interface, Audi prefer Multi Media Interface) all controlled by a “twirl and press” knurled knob on the centre console.

Oh, and a 6 button keypad to gain instant access to your six favourite radio stations; and it’s on the correct side of

44 NOVEMBER 2011

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the car for UK drivers, to the right of the gear selector (lever is too agricultural an expression).

The driving experience is uncanny. This is surely the quietest car this side of a Roller, with the merest of wind rustle at three figure speeds, and engine noise only notable by its absence. Combine an adjustable-for-reach-and-rake steering wheel, with electrically adjustable seats, and only those of chthonian proportions would fail to find a perfect driving position. The “doppelkupplung” seven speed, automatic gearbox slurs its changes perfectly, allowing progress uninterrupted by mere cog-swapping. The gears can be changed using steering-wheel-mounted appy paddles, or by shifting the gear selector to the left, and using it as a sequential gearbox. Used in combination with changes to the suspension settings and steering feel effected via the MMI, the nature of the car changes from (very fast) marathon runner, to (even faster) long distance sprinter, allowing the enthusiastic driver to nail the throttle along highways and byways, secure in the knowledge that the stiffer suspension settings and sharper steering will allow considerable progress to be maintained. Even without these chassis enhancements, this Audi ows down the road, taking all in its stride, keeping its passengers unshaken and unstirred.

Audi has come a long way since 1977 when chassis engineer, Jörg Bensinger, devised the now famous Quattro all wheel drive system, after he discovered that a Volkswagen Iltis jeep could outperform any other vehicle in snow, no matter how powerful. Bensinger started developing an Audi 80 variant in co-operation with Walther Treser, Director of PreDevelopment. The rest as they say is history; Audi Quattro rally cars won the Group B series for many years, and even now 23 years after the class was abandoned, they are still considered the most successful rally car ever made. This same Quattro system that is used on Audis road cars today.

Our thanks to Steve Smith and his team at Audi Bristol for stepping up and supplying this A7 at very short notice, after prolonged and convoluted discussions with Hartwell Jaguar came to nought. It is typical of Audi Bristol’s attention to detail, and to customer service levels. «

www.lansdownplace.co.uk

21/11/2011 21:49

Executive Toys

Executive

s y To

Financial Advice: Independent & Impartial

Audi_v3.indd 45

Technical Specifications Engine: 2967cc 24v V6 turbo-diesel Capacity: 2967cc Horsepower: 245 bhp @ 4000/4500 rpm Transmission: 7-speed S Tronic automatic auto; quattro 4-wheel drive Weight: 1785Kg Top speed: 155 mph limited Torque: 309 lb ft at 1750 rpm 0-100 km/h: 6.3 seconds Fuel consumption: 47.9 mpg combined, 156 g/km CO2

NOVEMBER 2011 45

21/11/2011 21:49

FINE PEKING • CANTON • SZECHUAN CUISINE

‘Wongs is not your average Chinese restaurant. It offers diners a gourmet experience in sumptuous surroundings at a price that is accessible to all.

It is the choice for the connoisseur!’

READER OFFER

Wongs are offering readers of Lansdown Place magazine a free glass of wine when dining from the £12 Pre or Post-Theatre menu or 20% off your total bill when dining A La Carte! Bookings are essential. Please mention Lansdown Place Magazine when you book.

‘Wongs is conveniently situated in the heart of Bristol behind the Hippodrome and a few steps away from the Colston Hall, Park St and Bristol’s historic harbourside. Parking is located nearby at Trenchard Street and College Street Car Park’

WONGS CHINESE RESTAURANT

12 DENMARK STREET • BRISTOL • BS1 5DQ TEL: 0117 925 8883 • WEB: WWW.WONGSBRISTOL.COM • EMAIL: INFO@WONGSBRISTOL.COM • BOOKINGS: RESERVATION@WONGSBRISTOL.COM Wongs.indd 2

22/11/2011 14:27:51

A Matter of Time

e m i t of

A matter

Our thanks to Mallory of Bath, who sell these, and other exquisite examples of “Haute Horlogeries” from their splendid showroom on Bridge Street. Our expert Graeme Morpeth gets clock-wise.

This striking ladies watch, the Omega Ladymatic 18ct ref: 42565342055002, has an arabesque pattern on the face complemented by a mother-of-pearl dial, set with diamonds.

It has a self-winding movement, and is waterproof to 100m. There are 31 models available in stainless steel, yellow, and rose golds, with metal or leather straps. This featured watch retails at £22600.

The Jaeger LeCoultre Reverso was developed in the 1930’s for polo players who wanted to protect their watches whilst playing. This new ultra-thin ladies model Ref. 3208423, has a slight curve to the elegant Art eco case, to fit more snugly on the wrist. This Stainless Steel model with a leather strap retails for £5500.

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Cartier, court appointed jewellers to most European royal families, and the original inventor of the wristwatch in 1904, offer this beautiful watch, Ref. W7100009, in Pink gold with an alligator-skin strap. The self-winding movement incorporates calendar and second counting functions, and the case is waterproof to 30 m, and retails at £15000.

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For Rolex, the world is a laboratory for testing the excellence of its products. Rolex watches have been to the very bottom of the ocean, and the top of the highest mountains. This superb and elegant Explorer II watch, Ref. 216570 is just about as tough as it gets: it retails at £5530 and will last a lifetime.

Financial Advice: Independent & Impartial

Watches_v4.indd 47

These enviable watches can all be found at Mallory, Bath. www.mallory-jewellers.com

NOVEMBER 2011 47

21/11/2011 21:51

The Exclusive Magazine For

Lansdown Place

From the moment I’d been told I was attending London Fashion Weekend, I was an excitable mess. Outfits and magazine recommendations were flying through my mind, and I was practising my reaction of seeing Gisele or Anna Wintour any chance I got. My experience of London Fashion Weekend 2011 wasn’t star studded, but was as amazing as any girl could imagine. When I arrived in the big city, I navigated my way to the hotel, unpacked and relaxed for the evening ready for the big day. Rhiannon Smith reports. rom m an ment t e station, it is a fifteen min te walk to Somerset House. The closer I got to Somerset o se, the more fashionistas were a earing, and the more the air ecame f ll of e cited giggles and heels clic ing down the road e erience egan in the main show s ace in the centre of omerset o se gro nds he show s ace itself ho sed aro nd twent five designers l s the catwal area, so as o can imagine, it got ite s and sti ing mongst all the h stle and stle there were res ite sto s, s ch as the ver o lar li a eth rden ea t t dio offering ma eovers and all the ea t advice a girl co ld need too a seat at the er glam ham ord ar here were coc tails to die for, almost far too man to choose st one went for the ling ha er and en o ed ever dro fter m drin went ac to er sing what seemed to e the accessories and eweller h tems Lola ose, nna Lo of London and risori were items that stood o t he ard and lac ring risori was m ersonal favo rite and at the disco nt rice of it was a steal elts L nch were ver o lar and e isite, with ama ing designs for all tastes

When the ‘show space’ got too busy, I headed for the thriving East Wing and was met by Vintage by Hemmingway, y lash Trash again selling amazing jewellery), Never Fully Dressed and London-based Clara Francis, two personal favourites with hand-crafted necklaces I couldn’t resist. Through the designers was a dedicated room to ‘Vintage Levis’, but as vintage is something I only admire from afar I gave Levi’s and Lucy In Disguise a miss.

Pringle of Scotland, not my usual choice, offered up some shoes that changed my life. Feathered ankle straps and black stiletto cigarette heels don’t sound like a good mix, but Carrie Bradshaw would have been proud. Handmade and one-of-a-kind handbags, specifically the envelope clutches

by Wilbur and Gussie, were like nothing I’ve ever seen. In the East Wing, menswear was represented very well, with Berthold, New Power Studios and Katy Eary all showing clean-cut and up-to-date designs for the fellas.

The Embankment Level 2 was a treasure trove. It was a maze of fabulous uropean designers such as Tatty evine,

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From Somewhere and Twenty8Tweleve. Retrosun is a brand specialising in unique vintage sunglasses from the late 70s and 80s, favoured by Rihanna, Cheryl Cole and Nicole Richie. The area was very popular and very tempting, however, when I approached, deep in conversation, I sent a whole shelf of these unique vintage designer glasses crashing to the oor with my handbag. ortified, I contemplated buying the whole lot to hide my embarrassment, or to apologise and run away very quickly. I chose to run. Scarred for life, I left the entire level and chose to head for Boutique Street, where key pieces by Luella, Vivienne Westwood, Galliano and Viktor and Rolf were among the best.

Tired from browsing, I decided it was time to stop in Tom’s Deli for lunch. Less formal and the only place to get

www.lansdownplace.co.uk

21/11/2011 21:52

London Fashion Week

food on the go, Tom’s Deli offered homemade cakes, bagels, sandwiches and salads catering for everyone. Refuelled, I thought the next and last stop of mine had to be a catwalk show. Saving the best for last, I sat in on the Jaeger London, Betty Jackson, Donna Karen, Anne Bryce, Eley Kishimoto, other of Pearl, Acne and Reem. Their A W 20 designs made me wish it was already cold outside, with Jaeger’s outrageous fur coats, Acne’s dreamy leather trousers and dresses by Bernard Chandran made every one giggle with excitement for their Christmas parties. Cork heeled sandals and shoe boots by Christian Louboutin were the height of every girl’s dream and isa Harada’s head pieces created brilliant shapes and textures to liven up any drab autumn British morning!

The highlight of my experience was seeing a catwalk show up close feeling the buzz of the models and audience in the air. The lowlight: knocking £400 worth of vintage sunglasses off of a shelf . y experience was refreshing and comfortable, women of all ages, with their boyfriends and husbands were mooching around, as were children – getting as excited by the designers as their parents.

One woman had a toddler walking beside her, carrying her goody bag, with a baby strapped to her front, whilst holding one the biggest ulberry Bayswater I’ve ever seen.

Ah, the modern mum.

Having seen the trends first-hand, the colours for this season are as ever black and white with clean-cut lines.

Sequins are key as the winter trends kick in and feature

either heavily on luxe shorts, or simply on the lining of collars and cuffs of blouses, shirts and blazers. ontrasting with the monochrome will be soft earthy colours, with browns and pastels to lighten drab days and lift heavy footwear and trousers. As far as the prediction for the season’s footwear, Louboutins will never tire and will forever be at the top of any seasonal wish list. «

e k o m Big S Style Financial Advice: Independent & Impartial

LondonFashionWeek_v4.indd 49

NOVEMBER 2011 49

21/11/2011 21:52

The Exclusive Magazine For

Lansdown Place

The Real

y r r e Burb

Ernest Shackleton, Lord Kitchener, Lord BadenPowell, HRH The Prince of Wales and Her Majesty Elizabeth the Second, by the Grace of God, of the United Kingdom of Great Britain and Northern Ireland, and of Her other Realms and Territories, Queen, Head of the Commonwealth, Defender of the Faith. When Thomas Burberry founded this British style staple in 1856, I’m going to assume he didn’t foresee a client list that would include the British monarch. Nor would I have assumed that the first Burberry store heralds from Basingstoke. The impressive client base of world leaders and icons aside – where is the brand today?

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You probably didn’t know that Thomas invented the Gabardine, a water-resistant fabric that had the yarn treated before weaving. Burberry very quickly became the choice of the upper classes due to its outdoor s orting wear and its contracts with the war office to rod ce officers trench coats h s, homas sec red the brand a place in the upper echelons of the style hierarchy.

As with the small handful of British heritage brands that have stood the test of time, and the globalisation of fashion, there were military contracts and subliminal society endorsements, but it wasn’t until 1920 that the trademark check made an appearance, and only then as a simple lining pattern. The classic Burberry check became the company’s masthead in the sixties when it was used on scarfs, umbrellas and luggage.

I have to admit, it’s hard for me to mention the ‘I can’t believe it’s not Burberry’ years that catapulted the brand’s iconic check into the media spotlight as the choice of the troglodyte.

www.lansdownplace.co.uk

21/11/2011 21:55

The Real Burberry

The brand began to unknowingly forfeit some of its prestige, as football fans began donning the hats en masse. But Burberry quickly realised that its fine heritage name was under threat and decided to retrench. Step forward Christopher Bailey and queue the press conferences. I’m sure we have all read stories about the group’s return to its plinth in the great hall of British fashion, so I shall leave this chapter there.

Thankfully, the brand is now stronger than ever – I don’t think anyone has missed Emma Watson, or the lovely Rosie Huntington Whiteley, wrapped in a Burberry trench on our screens.

So what of this season’s couture? As you may know by now, I’m a big fan of sartorial style. Maybe it’s an age thing, but you can’t undervalue the importance of a well-cut suit.

Burberry certainly don’t.

Over 100 skilled tailors are involved in constructing a Burberry suit. A suit jacket takes approximately 200 minutes to make. Burberry suits use half canvas panels, which hold the shape of the suit. Over time, as the jacket is worn, the canvas conforms to the wearer’s body shape creating an excellent fit. The canvas allows the suit fabric to drape naturally, allowing a clean, crisp look. The fabrics play a very relevant role in the Burberry suit identity.

Surprisingly, all the fabrics are created by Burberry and so are exclusive – how many houses can claim that.

If you’re looking to invest in a solid wardrobe and want the best of British, then look no further, Burberry is one of the brands that is synonymous with British style; the check on the inside may as well be the nglish ag. With only a small amount of space to list everything on my Christmas list, here are some of my favorites from this season. «

MensFashion_v3.indd 51

21/11/2011 21:56

The Exclusive Magazine For

Lansdown Place

n a i s A n a P

n o i t c e Perf

Wongs

12, Denmark Street, Bristol,925 BS18883 5DQ Bristol, BS1 5DQ. Tel: 0117 Tel: 0117 925 8883 www.wongsrestaurantbristol.co.uk www.wongsbristol.com When someone recommends a restaurant that has been at the heart of Bristol’s Chinese cuisine culture for over a decade, an expectation level is set.

Wongs is the sister restaurant to Cathay Rendezvous, a Bristol staple for many years. Obviously, I have eaten at a number of Chinese restaurants over the years, but no amount of buffet carts or set menus will ever compare to a decent a la carte.

When approaching a review of a classic Chinese restaurant, you must leave preconceptions at the door.

Chinese food consists of cooking styles from four regions: Beijing in the North, Shanghai in the East, and Szechuan in the West and the South, which is represented angdong t s in enced strong classic avo rs and traditional cooking styles. If you’re looking for a swirly amuse-bouche then I’m sure there are many restaurants that will cater to western tastes. Wongs, however, stays true to its heritage – and rightly so.

Having trained in Hong Kong and in London’s Chinatown, KK worked at Lee Hou Fook (the legendary Chinese restaurant immortalised in the song ‘Werewolves of London’) and brings considerable experience to this new role. Chef KK is also keen to replicate the use of seasonal and local produce that informs so much of the menu of Lee Hou Fook in London.

We will use more local meat and fish, more local vegetables,” he says. “I want to use the Chinese skills and ways of cooking. I want Wongs to be a local Chinese restaurant – a Rolls Royce product at an Audi price.”

The menu features an extensive range of traditional favourites, as well as plenty of exotic offerings, such as razor-clams in garlic and black bean sauce; steamed scallops with vermicelli ocean avoured Squid, Szechuan style fresh lobster with ginger and spring onion canton steak amb , etc.

Wongs is a restaurant with a heavyweight heritage.

Serving traditional Chinese cuisine, expect to be dining alongside Chinese people that appreciate Wongs for its traditional fair. As with many restaurants, the fact that people from the region chose to eat there is a sign of serious approval. «

Given its location, it’s a regular favourite for theatregoers and has a new man at the helm. Master Chef KK Wong, previously with Lee Hou Fook restaurant in London’s Chinatown, has made the switch to Bristol, and is already drawing praise for exciting, imaginative and well-executed menus. Our favourites were the braised pork belly with green mustard and the king prawns in Sichuan sauce.

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22/11/2011 12:06:25 21/11/2011 21:57

Dining Out

d e t a t s r Unde e c n a g e l E Restaurant at Drakes Brighton, BN2 1PE Tel: 01273 696 934 www.therestaurantatdrakes.co.uk

It was with great anticipation that I approached my evening at the Restaurant at Drake’s Hotel, since it is often dubbed one of the best restaurants in Brighton. Located on a picturesque coastal road in the trendiest part of the city, the inauspicious hotel doesn’t make a fuss of its restaurant’s status, a theme which runs inside and out. Nina Durrell explains more.

Once we found our way into the hotel’s petite bar, we were shown downstairs by the very welcoming restaurant manager to an understated dining room of cosy but elegant proportions. It certainly felt more like a hotel restaurant than a standalone eatery, and this gave the atmosphere an intimate and adult feel.

The three course menu we were given to choose from was as simple and elegant as the room itself, with only the minimal pretensions required of an upmarket restaurant.

What stood out immediately was the wholly British feel of the dishes on offer, something which, as a patron of mostly Asian and Mediterranean cuisine, I was most looking forward to sampling. The house wine we were recommended, however, was decidedly Mediterranean; the gorgeous FOS Rioja Blanca, a delicious dry and fruity offering of which I could happily have drunk two bottles.

My starter of sautéed wild mushrooms on toast, with duck fat-fried bread and poached duck egg was, simply put, absolutely divine. The mixture of salty, earthy mushrooms and rich creamy duck egg on top of luxurious fried bread was probably the best starter I’ve ever had the good fortune to experience. It sounds like an over-statement, but I was blown away by the freshness and strong but complementary avours of the ingredients. And if it is breakfast-like in nature, as my dubious eating companion commented, it must be one of the best breakfast dishes ever created.

Having my appetite whetted in such a way left me with high expectations for my main dish: roasted red leg partridge with braised mountain lentils and pancetta, with fondant potato and baby turnip. After tucking into two beautiful, freshly-cooked and steaming bread rolls with extremely naughty, creamy butter,

I was presented with a pretty and, yet again, very English-looking dish.

The moist and juicy partridge leg was certainly not like any other fowl I’ve sampled before; the newness of the robust avour on my palate left me with a smile on my face, leaving me to ponder that so rarely do we have the opportunity to experience a completely new taste. The crispy skin of the partridge really was a joy and probably the best thing on the plate, whilst the fondant potato and al dente turnip underwhelmed me a little. Luckily the generous sweep of rich and fruity red wine sauce saved me from any frowns of disappointment.

Once dessert came, I was abuzz with my new found admiration for British ingredients and wholly looking forward to the autumnlike tastes of fig and almond tart with honey ice cream. I have to say that whilst the tart was once again beautifully presented, wholesome and warming, it was also a little bland and lacking excitement. I was expecting the fig and almond avours to sing on my tastebuds like the rich duck egg and crispy partridge skin, but instead whispered with a background hum. I left wishing that I’d instead had a bowl of the honey ice cream on its own, which was undoubtedly the star of the dish. I promised my eating companion I wouldn’t reuse the phrase that I uttered to her after my first spoonful of the dazzling, sweet and unctuous creamy treat, but I just have to: it was the bee’s knees.

I came away from my Restaurant at Drake’s experience feeling not quite dazzled, but certainly more than contented.

It was a lovingly prepared meal, abundant in pleasantries and speckled with moments of genius. «

NOVEMBER 2011 53

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21/11/2011 21:58

The Exclusive Magazine For

Lansdown Place

It’s all in the

l i a t De

As a centre for some of world’s finest brands, Lansdown Place Magazine visited Mallory in Bath to discuss the importance of maintaining its traditions.

Located on the corner of Bridge Street in the historical city of Bath, jewellers Mallory are considered a destination for conscientious buyers looking for choice jewellery and renowned watches.

But there is more to Mallory than the pristine displays and amicable customer service. “We are a working jeweller,” explains Managing Director Robert Vander Woerd, “we are a face for respected and discerning brands but there is depth in our company with the addition of goldsmiths and watchmakers.”

“All our goldsmiths are craftsmen in their own right.

They in turn have the ability to work to our exacting standards – whether that be bespoke designs, commissions or repairs.”

To reach this level, the business has invested in equipment necessary to complete vital repair and creative work, including a £20,000 laser machine and Computer Aided Design (CAD). Equally important is the company’s investment in people to work with the new technology.

54 NOVEMBER 2011

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For Mallory itself, the introduction of the new technology has meant an exciting approach for their own jewellery with the business raising the profile of their own in-house designs. Sitting alongside international brands is Mallory’s equally-lauded collection known as Mallory by Design, a range of pieces designed and made within the premises.

As an accredited Rolex repairer, Mallory can undertake repairs more quickly, often saving the lengthy period that customers may experience if they are returned to the supplier. Due to demand, an additional watchmaker has recently joined the workshop.

And for the future? “We will endeavour to carry out as much of our repair work and new design within our own establishment and we are proud of the fact that within our four walls we still maintain all the skills which you would expect of the traditional jeweller.” « For more information call 01225 788 800 or visit www.mallory-jewellers.com

www.lansdownplace.co.uk

21/11/2011 21:59

p o h S

Shop Till You Drop

till you drop

When faced with the daunting task of purchasing gifts for loved ones, remember the essentials. Klair Robinson lends a hand this Yule tide.

Chocoholic If you know a chocolate fan, or for that matter are one yourself, accept no substitutes. This hamper is brimming with a delicious array of chocolate treats, including the Classic Christmas Sleekster Selection and Salted aramel. elightfully, they also contain two bottles of their finest wines, Pink Prosecco and a Classic Prosecco, to wash it all down.

The Ultimate Chocolate Christmas Hamper £200 available at Hotel Chocolat Cabot Circus, or visit www.hotelchocolat.co.uk

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Vroom Vroom What child wouldn’t want a Ferrari. Experience truly impressive acceleration with this super-maneuverable, super-fast Ferrari. The swivel axle provides continuous stability, even on rough terrain, as it ensures all four wheels stay on the ground. 35cm diameter styled pneumatic tyres provide optimal grip on the circuit.

Both products are trademarked Ferrari items, which also incorporate a simple seat adjustment, allowing users of all ages to enjoy the fun.

Early Learning Centre Ferrari Enzo 12v £429.99 and Berg Ferrari Racer £659.99

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Financial Advice: Independent & Impartial

GiftGuide_v3.indd 55

You too can smell like Tom This extravagant set is essential to any man’s collection. The trousseau contains some of the designer’s best work, which includes the Tuscan leather-scent and atomizer with funnel.

Blended all together on the fine wooded akassar tray. Share Tom ord’s love for fine leather this advent fall. £700 – Harvey Nichols

NOVEMBER 2011 55

21/11/2011 22:00

The Exclusive Magazine For

Lansdown Place What a windup Watch winder manufacturers and sellers emphasize the quality, the precision, and their knowledgable design to correctly pamper your watch. This selection from the good people at Mallorys will keep your finest time pieces ticking.

Buben orweg Time over , 0 nderwood Roto Box ouble , 0 nderwood Roto Box Single 2 Available from Mallory, Bath, www.mallory ewellers.com

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Bag some style Smthyson introduces its chic Nancy Hobo pieces as a Christmas must-have for that special lady in your life. Designed with hand-riveted pleated leather, in this luscious blue colour, it comes with that practical cross-body strap. With the Tote Lapis, it also features the hand-riveted quilting with brushed gold clasp. An ideal accessory for work and play.

Nancy Hobo Lapis £690 and Small Nancy Tote Lapis £700, both from Mallory Jewellers, Bath.

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Clock Wise Newgate Brixton Wall Clock. Bring 1978 to 2011 and give a retro timepiece this Christmas.

Mechanised with a quartz crystal, the clock presents itself on a precise timing system, rather than the modernised electrical systems you see in the 21st century. Complete with contrast painted metal hands and a silent sweep second hand, this would be a great gift for someone who laboured in the 1970/80’s. rban Outfitters abot ircus or www.urbanoutfitters.co.uk,

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www.lansdownplace.co.uk

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Be a VIP A professional portrait can capture the whole family, or even to turn a special someone into a model for the day why not treat a close one to a IP makeover this Christmas, or get the family together for a group shoot.

Special price of 2 . , call the lifton Photographic Company on 0117 909 8985 quoting ‘Lansdown Gift’

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Grab a Graphite The new lightweight Kindle is the ideal companion for those on their daily commute to work, frequent yers, gym-goers, or those who just enjoy lying on the sofa engrossed in a good read. Access over 750,000 books, newspapers, magazines and more, offering you a wealth of great entertainment at your fingertips.

Available from o n ewis www. o nlewis.co.uk

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Say cheese Leica D-Lux 5 Titanium ‘Special Edition’ camera – The elegantly-designed compact camera, with its sophisticated, anodised silver-grey finish, comes presented in a special set with a premium grey leather case and shoulder strap, and is available at an RRP of 8 including AT from authorised Leica dealers including the Leica Store Mayfair. www.leica storemayfair.co.uk 0207 629 1351

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‘Ear me now Adjustable for better sound….

Bang lufsen earphones are designed to fit the individual ear and deliver unsurpassed sound quality.

With conventional earphones, much of the sound never makes it into the ear.

These earphones are specially developed to closely match the contours and curves of the ear – so you hear the sounds that would otherwise slip away.

Available from B&O, The Triangle, Bristol at £100 www.bang olufsen.com

Financial Advice: Independent & Impartial

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Radley London The range of Lansdown products at Radley London has a special place in our hearts ( for obvious reasons) and here at Lansdown Place Magazine we think that gifts in this range would please any lady in your life. The patterned swirl makes the purse, blackberry cover, clutch, etc. Fantastically feminine and a true complement to the Christmas season.

Radley London, Cabot Circus, call 0117 316 9055. Prices range from £16 to £69

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Remx XO & La Maison Du Chocolat Gift box Another one on the wish-list: a limited edition gift box (only 250 will be available worldwide), available exclusively at Harrods for 2 .

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Piper-Heidsieck Rare Vintage 2002 nly the eighth Piper-Heidsieck intage ever released. It has won several medals and trophies, including the Gold Medal at the Decanter World Wine Awards 20 . RRP 0 .

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Pandora’s Box These shimmering and delightful jewels would make any young woman’s dream come true. With a unique, quirky edge, the Pandora charms are diamond-like, but allowing you to add and change to your heart’s content.

Pandora Cabot Circus 01179 290201, or Cribbs Causeway 0117 , or www. andora.net

To win a selection of the gifts featured in this guide, please visit www.lansdownplacemagazine.com and enter the competition.

21/11/2011 22:01

Chairman of the Board

Chairman

d r a o B e h of t Giles Clarke was born in Bristol and began his career as an investment banker with Credit Suisse First Boston. His first taste of entrepreneurial success came as Chairman of Majestic Wine Warehouse, which he built into a national chain. It sold for £15 million in 1989. But that was just the start of an incredibly interesting story from an equally interesting man. Lansdown Place Magazine caught up with Giles to discuss business, the economy... and a little cricket, too.

You began your career as an investment banker. Was that a conscious choice at the time or did it just seem like the right career move?

I was interested in doing it when I met a guy in Tehran during my third year at Oxford, who was an investment banker. It looked interesting and he was clearly enjoying himself.

You’re rumoured to have gambled at Oxford to cover your tuition. Did you have a favourite game?

Backgammon.

What spurred you to buy Majestic Wine – it was in receivership at the time, so you obviously had a plan for the organisation?

I was sitting at my desk at CSFB, it was in the for sale ads in the FT and I wanted to avoid having lunch with one of my colleagues, so I said I was going to have a look at this business. I went off and had a look at it, and then a couple of us bought it.

You founded Pet City in 1990 – quite a change from Chairing the English Cricket board and Majestic Wine – what are the criteria on which you pursue a business venture?

Well don’t forget the cricket is an unpaid job and it’s my obsession, so to be able to chair the national board,

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particularly to run the sport – particularly when you have the opportunity to give the sport the economics so it can hire the best people and the best people can turn the team into the best team in the world – it’s fantastic. All the other things I do are business, but the ECB is something I was elected to. All the businesses I have done were because I saw specific opportunities in sectors that weren’t being covered. I was always interested in competing with the supermarkets, in niche retail, because retail was very strong. These days retail is struggling desperately, the only interest I have in retail is coffee bars.

Is there a particular moment in your career when you realise you’re a successful entrepreneur and business leader?

I don’t think it’s like that when you own and run a business: they are your passion and obsession, and you don’t do much else. If a company doesn’t have somebody who is passionate and obsessed about it, it will not be successful.

There are many companies now operating under ‘Westleigh Investments’. How involved are you with each on a day to day basis?

I have a CEO of Westleigh, who runs the business. I’m a non-executive proprietor; I simply don’t have time to run any business because I have so many different interests.

Apart from English Cricket, I’m also on the world governing

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Lansdown Place abilities of a society to improve the life of that society, it’s very important, discrimination is a bad idea. o you find t ere are t e essential qualities a successful business leader must possess?

I think to be successful you need to have clarity of vision, clarity of purpose.

You must be decisive. Most people are not very decisive in my experience and that’s a major issue. Often any decision is better than no decision.

You must also delegate. You get really good people working for you if you give them opportunity and authority.

So the ability to delegate, which I think I’m very strong on. I haven’t got much choice anyway.

body and the ICC. I chair the Pakistan Task Team, which is all very time consuming, and then there are my charitable activities – I have just been Master of the Society of Merchant Venturers in Bristol.

Speaking of cricket, I read that you were prepared to meet the Pakistani President over political interference in the game. It’s been an ‘interesting’ year for cricket. What do you think the state of play currently is?

It’s been a great year for England, winning the Ashes and to be number-one in the world is fantastic. We have a very good team, who are very good role models, I’m very proud of them. All sport is challenged by corruption; all business is challenged by corruption. Corruption of any kind devalidates normal process and it applies in business just as much as sport. In the same way, if you have corrupt officials taking bribes to award major contracts frequently, that affects a whole country. Corruption is an international issue and is unacceptable.

Where are you and where are you headed?

I’m in the car heading to Merchants Hall in Bristol as tomorrow is Charter Day, an annual celebration service in Bristol Cathedral for 500 plus years and our schools will be there in force. We have a lady preacher for the first time ever which I’m very proud of. I’m a major supporter of women’s cricket, it’s the fastest growing sport in the UK, I’m a big supporter of women in all activities and we need to enfranchise half our population. You need to utilise the best brains and

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What is the biggest challenge facing heads of companies today?

We are in the most difficult economic time that I can remember since ‘76. I think it’s the most difficult market for 35 years and I think that makes it a horrendous challenge.

The concerns are extremely major and the quality of political leadership in Europe is negligible; the European experiment has manifestly been a disaster and requires considerable courage to be dealt with. What concerns me deeply is the younger generation; the unemployment prospects for those who have no capital and no ability to go to another part of the world, where there is growth, are very poor and immensely discouraging.

We really have to move forward and be worried about ngland and deal with a generation who aren’t going to find life easy and they’re understandably angry about the amounts of money that has been squandered in the last decade.

I think there is huge opportunity in other parts of the world; I’m a massive fan of South America, a lot of opportunities there, and a lot of opportunity in Africa and Asia. For young people I’m afraid it’s going to be tough here, but there is a lot of opportunity there.

Is there anyone who you recognise as a business mentor, or is there someone you have aspired to?

There have been various people. I worked alongside Lord Hanson, who was a brilliant businessman and I thought a great deal of. Sir John Craven, who was my boss when I started in investment banking, is another brilliant man.

Cricket and existing businesses to one side – what’s next?

In addition to a whole host of other things, I’m very involved in Latin America, in regards to mining activities.

Truf enet is a business monitoring social media with a strong base in sports and FMCG brands. «

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21/11/2011 22:03

On the Bookshelf

f l e h s k Boo On the

Empire: What Ruling the World Did to the British Jeremy Paxman Viking £25

We Brits will never shake our imperially romantic weakness for the empire. The turn of the nineteenth century is when Britain last properly swaggered; the peak of British power – politically, geographically and scientificall ndeed, the fort odd ears from 1890 were truly blossoming. We peaked – big time – but then inexplicably dissipated. Even so, the in ence of the ritish m ire is still ever where, from the very existence of the United Kingdom to the ethnic com osition of o r cities t affects everything, such as Prime Ministerial decisions to send troops to war, the sports we think we’re good at, the architecture of our buildings, the way we travel, the way we trade, the hopeless losers and underdogs we support, even the food we eat. You see, the empire is never very far away.

But Jeremy Paxman obviously thinks we’re neglecting the history of colonialism: “Perhaps in the dark recesses of a golf-club bar some harrumphing voice mutters about how much better the world seemed to turn when a great-uncle in baggy shorts ran a patch of Africa the size of Lancashire.

But, by and large, no one has much to say about empire.”

Paxman isn’t so much filling a gap in the market, but rather bringing a typically academic subject back into the mainstream. The fact is, of course our cultural history in uences our modern proclivities, but does any of this really matter? With Paxman’s charming wit and analysis – probably.

Paxman goes to the very heart of empire. As he describes the selection process for colonial officers, the

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importance of sport, the sweating domestic life of the colonial officers’ wives, and the crazed end for General Gordon of hartoum, Paxman brings to life the tragedy and comedy of empire and reveals its profound and lasting effect on our nation and ourselves. A good gift for the secret imperialist in all of us.

21/11/2011 22:05

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11.22.63 Stephen King Hodder & Stoughton £19.99 n his fift fo rth oo , Stephen King asks some simple and ubiquitous questions: what if you could go back in time and change the course of history? And what if the moment you could change was the JFK assassination?

ing takes his protagonist Jake Epping, a high school English teacher from Maine, on a fascinating journey: the dying owner of a local restaurant, Al, informs Jake that he has found a portal in his pantry that leads to a particular day in 1958, where he can stay in the past for months on end, even years, yet always returns just two minutes later. Cancer has impeded Al’s five-year mission to stop the event which he believes to be the decline of America ’s death. Al passes on this monumental task to Jake.

And so begins our protagonist’s adventure – from a modern age of mobile phones and iPods to an antiquated time of lvis and of Plymouth ury cars and Lindy Hopping of a troubled loner named Lee Harvey swald, and a beautiful high school librarian named Sadie Dunhill, who becomes the love of Jake’s life – a life that transgresses the normal rules of time. ing is often slated for narrative super uity and epical size of his books, which probably says more about the modern reader than it does the author. Running in at over 700 pages, however, 11.22.63 doesn’t waste a word, and simply reaffirms ing’s position as a quintessential American storyteller.

Magnum Contact Sheets Kirsten Lubben Thames & Hudson £95 t co ld e arg ed that too m ch geni s is t on photography: are photographs truly about the talent to capture that ‘decisive moment’, or are they actually

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an art of e and fort ne he decisive moment, it is said, is the ability to capture the exact fusion where light, shade, expression and gesture unite to create the perfect composition, which is invariably greater than the sum of its parts. And since the time when artier resson coined the hrase, hotogra h and photojournalism has been an irrefutable bulwark of modern art and culture.

This photography book presents, for the first time, the very best contact sheets created by Magnum photographers. ontact sheets tell the truth behind a photograph they unveil its process, and provide its back story. Was it the outcome of what a photographer had in mind from the outset? Did it emerge from a diligently worked sequence, or was the right shot down to pure serendipity – a matter of being in the right place at the right time? This unique publication provides the reader with a depth of understanding and a critical analysis of the story behind a photograph, the process of editing it, and the places and ways in which the selected photographs were used. Legends such as Henri Cartier-Bresson, Cornell Capa, Elliott Erwitt and Inge Morath, feature prominantly, as well as the latest generation, including Jonas Bendiksen, Trent Parke, Alessandra Sanguinetti and Alec Soth.

Indeed, a proper tome for anyone with a deep appreciation of photography and a desire to understand what goes into creating an iconic work. «

21/11/2011 22:05

Aston Martin

Aston Martin

Passion, Patina, Nuance and Soul Aston Martin’s history is replete with wealthy saviours rescuing the company from financial ruin. Between 1913, when Lionel Martin and Robert Bamford founded what was to become Aston Martin, and 1939, when the factory moved from car production to making aircraft components, the company was declared bankrupt three times, had five owners, and had produced seven hundred cars. Graeme Morpeth looks back on one of Britain’s finest brands.

Since David Brown bought the company in 1947 it has had a further eight owners. It would be easy to reduce the history of Aston Martin to a table of numbers of cars produced, and changes of ownership. And this would be to miss the point. Aston Martins are not about numbers, they are about the soul and passion of the people who build them, and of the pleasure of ownership they give. Aston Martin has a long history of craftsmanship, unlike any other British car manufacturer, Rolls Royce included. Their site at Tickford Street, Newport Pagnell was originally founded in 1820, by Salmon and Sons, as a bespoke, coach-building works. The site was bought by Aston Martin in 1954, and that coach-building tradition remains today.

The factory was described thus, in 2007, by Colin Thew, an ex-Aston Sales Manager: “each car that came out was a minor miracle… it was the skill of these people who built the car that made it what it was… the factory was little better than a blacksmith’s shop… after having driven the car you couldn’t believe what it was like after having watched the manufacturing process.” This process of making cars by hand, by real manual labour, using a wheel to form the panel shapes, and hammers, files, and atters to fit them together, was not work to the craftsmen, it was a creative process out of which were born Aston Martins. This level of craftsmanship was both a strength and a weakness for the company. When the Vanquish arrived in 2001, it was like turning a high-class smithy into NASA: during the 1960s, nearly 40 panel beaters worked to produce just one car; the Vanquish required just eleven. Kingsley RidingFelce, Director of Aston Martin Works Service and Parts Operations explained, “we could not continue to build cars that way, for two reasons one - they did not make a profit, and two - to achieve the levels of quality required (in the changing world), the way the cars were engineered and built had to be changed.”

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This is not to diminish the way that cars are built today. They are still hand crafted, but using space age composites and bonding resins, assembled to the finest of engineering tolerances, to turn a series of beautifully engineered components into automotive objets d’art. To watch machinists stitching pieces of Bridge of Weir leather together, for seats and dashboard trims, is to see this creative process at its best. What is certain is that Aston Martin cars are built for life: they don’t really die. In December 2009, when production had been moved to Gaydon, approximately 50,000 cars had been produced, over ninety per cent of which were still being driven.

These days, the thing that would strike most visitors about the factory is the noise; the quiet hum of airconditioning, the soft clickity-clack of sewing machines, and near silent whine of the electric supply trucks. It is a place of modern production methods and processes; nothing as vulgar, or noisy, as stamping, pressing, welding, or crimping takes place here. It is a high-tech womb, the birthplace of a

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motoring icon, not a factory spewing out motoring euroboxes for the masses.

When David Brown bought Aston Martin and Lagonda, during the late summer of 1947, he could not have imagined the nadirs and zeniths the company would experience on its way to the commercial success it is experiencing today. Much of this success must be attributed to three key figures in Aston’s recent past. ictor Gauntlett, Astons at-out, top-speed Chairman, from ’81 to ’91, who secured the company’s financial stability with the ord deal in 8 Walter Hayes, Ford’s Vice President, who oversaw the purchase and integration of Aston Martin in Ford’s Premier Automotive Group, and, Ulrich Bez, CEO since 2000, who lead the negotiations on the sale of Aston Martin, to a consortium lead

by David Richards CBE, the founder and owner of Prodrive, a £100M turnover motor-sports company. The future looks secure, the product line is comprehensive, and the factory is bustling, busy with orders for V8 and V12 Rapides, Volantes, Virages and Vantages, from across the globe. «

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