H Edition feat H Ticino 2015

EDITION www.heditionmagazine.com

INCORPORATING

TICINO MAGAZINE

ExclusivE intErviEw with

LUCA ARGENTERO

A classic Gentleman in a Modern world

GLOBAL REVIEW

read the latest From Around the world Michelin starred chef FRANK OERTHLE talks about his passion for fine cuisine at Grand Hotel villa castagnola, ticino

RICHARD STONE

the Majestic creator of royal Art the Future is Electric shaking up the car industry with TESLA MOTORS

remembering

GRACE KELLY the Princess of Monaco

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From the

Editor

‘Luxury is attention to detail, originality, exclusivity and above all quality.’

‘‘

– Angelo Bonati

T

his month we wanted to bring you a magazine that touches upon past and present luxury whilst also embracing current issues affecting business, economy, art, culture and lifestyle. With the general election just a few weeks’ away, we’re wondering what the results will be. Looking at the present situation we know that the UK could be facing considerable political instability. Philip Whiteley looks at the upcoming election on page 14.

May is upon us – and with it comes a springtime addition to our publishing titles. Alongside H Edition Global, we have launched a new monthly magazine named H Ticino for our Swiss and Italian readers. It will be distributed across Ticino and Italy. Both publications include some magnificent interviews from leading business minds such Founder and Executive Chairman of British fine jewellery brand, Astley Clarke – Bec Astley Clarke. Bec was recently awarded an MBE by Her Majesty The Queen. Read her inspirational story right here on page 23. Mr Walter Rohrbach former Director of Laurent-Perrier from 1992 till 2014 also describes his affection for the world class brand that he has spent much of his life involved in.

Grace Kelly adorns our front cover. She was the Oscar-winning movie star who bewitched Hitchcock, captivated cinema goers and ultimately became a real life princess when she married Prince Rainier of Monaco. Despite her death over thirty years ago, the image of Grace Kelly endures, she remains a fashion icon, the ultimate icy blonde who has been described as “the most beautiful actress of Hollywood’s Golden Age.” Yet, behind the stunning good looks and the glamorous lifestyle is the story of a hard-working woman who, when forced to give up her career on marrying, devoted her life to philanthropic causes. Turn to page 26 for the full article.

See you in June.

Dina Aletras @HEditionMag

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DUBAI • HONG KONG • LONDON • LUXEMBOURG • MALTA • MIAMI • MONACO • MONTREAL• NEW YORK• SINGAPORE • SWITZERLAND H Edition Magazine is published monthly and offers advertisers an exclusive audience of affluent readers. Whilst every attempt has been made to ensure that content in the magazine is accurate we cannot accept and hereby disclaim any liability to loss or damage caused by errors resulting from negligence, accident or any other cause.

All rights are reserved no duplication of this magazine can be used without prior permission from H Edition Magazine. All information is correct at time of press.

Views expressed are not necessarily those of H Edition Magazine.

Editor: Contributing Editor: Editorial Assistant: Board Of Directors:

PA to Board:

Dina Aletras Romy Gai Rebecca Cowing Gianmattia Pucciano Enea Trevisan Danila Pisati Faye Redmond

Cosmetic Specialist: Photography: Designer: Freelance writers:

Dr Ohan Ohanes Stephen Crockford Kevin Dodd Philip Whiteley Joanne Walker Geoffrey Dean Milan Brlík

For editorial and advertising enquiries please email info@hamblemediacomms.com Front cover credits: Getty Images Printed in the UK by The Magazine Printing Company www.magprint.co.uk

www.heditionmagazine.com

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IMPRESSIONIST & MODERN ART

Wednesday 24 June 2015 New Bond Street, London

MAX ERNST (1891-1976) Demain oil on panel 35.2 x 27cm (13 7/8 x 10 5/8in).

Painted in 1962 Sold for ÂŁ158,500

bonhams.com/impressionist

ENQUIRIES +44 (0) 20 7468 8328 india.phillips@bonhams.com Closing date for entries Friday 1 May

CONTENTS ISSUE 12

26

COVER STORY 26 THE BEAUTY OF GRACE KELLY

REGULARS 8 GLOBAL REVIEW

By Philip Whiteley

11 THE MARKET MOMENT

by Professor Carlo Pelanda

47 H TICINO MENsILE Affari, Notizie, Cultura, Lusso, Stile Di Vita

BUSINESS 6 1000 COMPANIEs TO INsPIRE BRITAIN Celebrating the UK’s most inspiring and dynamic scale-up businesses

12 THREE NUMBERs FOR CHINA Sergio P. Ermotti, Group Chief Executive Officer at UBS

14 Is BRITAIN PREPARED FOR LIFE WITHOUT A GOVERNMENT

47

20

The United Kingdom could be facing considerable political instability after this month’s General Election

INTERVIEWS 23 BEC AsTLEY CLARK MBE Founder and Executive Chairman of British Fine Jewellery Brand, Astley Clarke

52 LUCA ARGENTERO A modern day gentleman

56 FRANKE OERTHLE Executive Chef of Grand Hotel Villa Castagnola, Switzerland

LUXURY, CULTURE & TRAVEL 16 H BOOK CLUB The new H Edition Book Club, providing a selection of choice reads that deserve your consideration

20 RICHARD sTONE Richard is a much favoured, and well respected, royal portrait painter who has completed over 40 royal commissions in the four decades of his career

32 AV BUYER Showcasing the Bombardier Global Express 6000 one of the world’s favourite jets

36 GRAND HOTEL A VILLA FELTRINELLI

52

The tale of a Dynasty

42 LAURENT PERRIER A NEVER ENDING PAssION Interview with Mr Walter Rohrbach Former Director of Laurent-Perrier

| BUSINESS

1000 Companies to inspire Britain LONDON STOCK EXCHANGE

T

he second edition of London Stock Exchange’s 1000 Companies to Inspire Britain report celebrates and showcases the UK’s most inspiring and dynamic scale-up businesses and was launched with much success at the beginning of March.

The publication is a significant part of London Stock Exchange’s broader campaign to support the UK’s ambitious companies in their growth journeys and to create an entrepreneurship revolution. It is these businesses that are vital to the UK’s prosperity, yet they still face significant hurdles in realising their achievements and often remain under celebrated and under recognised.

One such hurdle London Stock Exchange feels strongly about helping these businesses overcome, is their dependence on bank and debt finance. Together with the wider business community, we are committed to educating and encouraging these businesses to look at equity financing as a viable source of long-term stable capital.

Together with the UK Government and business community, much progress has been made in diversifying the UK funding ladder for these firms but despite this, recent statistics from the British Bankers’ Association continue to highlight a trend amongst many businesses towards debt financing. Only three per cent of UK SMEs using equity finance, which is in stark contrast to the US, where over 70 percent of financing comes from various types of equity: angel investment, crowd-funding, venture capital, private equity, a stock market listing.

Aside from support through providing capital, simply celebrating and highlighting some of these businesses is also crucial in boosting their profile and helping them to further grow and develop. London Stock Exchange’s 1000 Companies to Inspire Britain report does exactly that. The result of positive collaboration between UK Government, financial market participants, investors, entrepreneurs and companies, it highlights the achievements of many of the UK’s most inspiring businesses.

The report is unique in its approach in identifying the UK’s high growth businesses. It looks at private and listed companies and focuses on metrics beyond

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short term revenue and profit growth, painting a more accurate portrayal of the wider economy. Not only is revenue growth over the last four years taken into account but also how companies have performed against their sector peers. This unique methodology reveals a community of UK businesses richer and more varied than we believe ever identified in any other exercise of this type.

Interesting trends have emerged one year further on from the financial crisis. Certainly a recovery being built on jobs: 50 recruitment firms made the list, a 100 per cent increase on the previous year. And a recovery not limited to London either, with over 75 per cent of the 1000 companies drawn from outside the capital.

Within the report, exactly a quarter of the 1000 companies operate in manufacturing, construction and engineering, and many within that group work at the very cutting edge of their industries. This is striking and a cause for celebration dispelling numerous myths around the UK economy, such as the demise of manufacturing.

Sectors such as IT, telecommunications and financial services remain very well represented and have been propelled by support networks such as TechCity UK, spearheaded by Joanna Shields. Its recent Tech Nation report was the first of its kind on the state of the UK’s digital economy, confirming that the sector has become a new but now integral part of the country’s growth.

According to the report, digital employment is forecast to grow 5.4 per cent by 2020, higher than total job growth. Alongside the big sector shifts, intriguingly the report also tracks some of the nation’s changing tastes and hobbies: three Mexican restaurants make the list for the first time as does a high-end cycling clothing company.

What is evident from looking at this year’s report is that UK entrepreneurs continue to set up businesses that create jobs for the UK population and contribute to the continued economic recovery. We think it is important to celebrate that success and strive to create an environment that encourages innovation and helps the current crop of SMEs flourish and become the bluechips of tomorrow.

We hope you are inspired. www.1000companies.com www.heditionmagazine.com

Negative iNterest rate iNcreases pressure oN swiss peNsioN system

S

ince the Swiss National Bank scrapped the EUR/CHF floor earlier this year and lowered the negative interest rate even further, the interest rate environment in Switzerland has been turned on its head. The UBS Chief Economist in Switzerland and his team analysed the possible implications under different interest rate scenarios. The results show adverse effects for the real economy, significant interest rate risks and additional consolidation pressure in the banking sector, along with serious consequences for the Swiss pension system. In abandoning the Swiss franc’s exchange rate floor with the euro, the SNB also reduced its target for the 3-month LIBOR by another 50 basis points to –0.75%. Immediately following this move, nearly the entire yield curve for Swiss government bonds up to a maturity of 16 years fell sharply into negative territory. The effect of the franc’s appreciation on prices and the economy are complex and almost unprecedented.

“Up to now, the focus has been on the consequences of ending the exchange rate floor. The resulting impacts for the export industry and tourism are enormous,” said Lukas Gähwiler, Head of UBS Switzerland, “but we have to keep in mind that the impact of the negative interest rate environment is long term. It is at least as serious for the economy as ending the floor to the euro, and could even be more serious.”

In a new report, UBS economists used a comprehensive econometric macro model to examine the implications of various scenarios for the Swiss economic outlook in the years ahead. They show what the impact could be on the basis of three future interest-rate scenarios.

The focus is on the macroeconomic consequences and the effects on the financial sector and Swiss pension system.

The analysis of three different global economic scenarios suggests that interest rates will remain very low and in some cases will go significantly deeper into negative territory, while real GDP growth is set to fall sharply below its potential rate of 1.5%. Even in a middle scenario, the UBS economists see short- and mediumterm interest rates in Switzerland remaining negative into 2017. Low interest rates make labour more expensive relative to capital and, together with a strong Swiss franc, lead to a rise in unemployment, especially among the lower-qualified section of the workforce.

For the banking sector as a whole, direct costs arising from the negative interest rates on sight deposits with the SNB are likely to be up to CHF 1 billion. If banks across the board are forced to pass on negative interest rates to their deposit customers, this could lead to a significant increase in the holding of cash. In addition, UBS economists estimate that the indirect risks arising from the negative interest rate environment are high.

The extremely low interest rates lead to an erosion of interest rate margins, one of the main sources of income for many banks, and they increase the risk of significant losses in the event of a future steep rise in interest rates. Should an interest rate shock occur on a similar scale to that at the end of the 1980s, Swiss banks could lose more than CHF 30 billion in accumulated interest income over the next 10 years, according to the report by UBS. In addition, insurance companies could become more active in the mortgage market as they search for returns. Overall, the negative interest rate environment, combined with the existing regulatory pressure, is likely to speed up the pace of consolidation in the banking sector.

If interest rates were to stay negative, many pension funds would see their shortfalls grow even larger, also because pillar 2 investment guidelines restrict the ability of pension funds to invest in assets with higher potential returns. If interest rates were to stay low or even negative for longer, pension funds could be allowed by law to increase employee contributions in order to finance the promised pension benefits. This would lead to a greater redistribution between people in employment and pensioners, as well as placing an additional burden on companies in the form of higher personnel costs. In these circumstances, a measured reduction in the statutory conversion rate seems more urgent than ever. For pillar 1, lower interest rates would mean a sharp increase in the AHV financing shortfall, which stood at CHF 1,000 billion even before the onset of negative interest rates.

In a scenario of low interest rates and weak equity markets, the AHV compensation fund could be exhausted as early as 2024, according to the UBS economists’ calculations. By contrast, in a scenario of higher interest rates and positive equity market performance, the AHV compensation fund would be sufficient to fund excess pillar 1 expenditure until 2028.

www.ubs.com www.heditionmagazine.com

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| NEWS

GLOBAL

8

REVIEW 1

Italy

Italy’s strong industrial base and diversified economy has helped it maintain living standards despite considerable challenges of high public debt and an ageing population. Tension is increasing, however as deflation has appeared in Europe, exacerbating the impact of the public debt, which reached around 130% of GDP by early 2015.

Its undoubted strengths in business management are offset by a rigid labour market, high taxes and issues to do with access to finance, according to the most recent Competitiveness Index of the World Economic Forum. Overall, Italy is ranked at 49th, significantly lower than advanced economies of northern Europe.

Opposition to Eurozone austerity measures, a consequence of the debt crisis and problems in completing fiscal and monetary union, has grown across southern Europe. Prime Minister Matteo Renzi, elected just a year earlier, has expressed some support for his more leftwing counterpart in Greece, Alexis Tsipras.

The country is quite low on the Transparency Index for a major European Union member, at 69th in the rankings.

A 2012 study indicated that lack of independence of the judiciary was a contributing factor.

In March 2015 Transport Minister Maurizio Lupi, though not under investigation himself, resigned over claims relating to bribes in awarding public works contracts, shortly after police arrested four people linked to the alleged irregular payments.

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2

Uruguay

The end of José ‘Pepe’ Mujica’s Presidency in March 2015 brought to a close a remarkable era in South American politics. Left-wing populists in the region typically project a flamboyant image and have a lifestyle to match, but Uruguay’s Mujica was remarkably different. Throughout his presidency he lived modestly, dressed casually, and donated 90% of his salary to good causes, developing an international following. His successor is Tabaré Vázquez, also of the Frente Amplio (Broad Left).

The country scores a very high 21st on the Transparency Index, indicating low corruption, much lower than Argentina, Brazil or Paraguay. Uruguay has a long history of democracy, and was one of the first nations to establish a welfare state, but was damaged by violent dictatorships in the mid-late 20th Century.

Mujica is a former left-wing guerrilla who fought against the dictatorship but later renounced violence. He has acknowledged that inward investment can be beneficial for the region, and not simply a case of resource-extraction.

In competitive terms, it is medium-low ranking on the Global Competitiveness Index at 80th, but has improved in recent years. Strengths include education and health, while bureaucracy and labour regulations are cited as weaknesses.

The economy has grown an average 5.7% per year since 2005, according to the World Bank. Public debt has fallen from 100% of GDP in 2003 to 60% by 2014.

3

Mozambique

The murder of leading constitutional lawyer Gilles Cistac in March 2015 had every sign of being politically motivated, and risks provoking a new wave of violence in the troubled south-east African country.

Cistac had recently supported the view of the opposition Renamo movement that there was legal backing for devolution of power. This is particularly significant as Renamo has stronger support in northern areas where gas reserves are generating wealth. Renamo restarted lowlevel conflict in the north two years ago, agreed a peace deal before the election in October 2014, but claimed that the election, won by the ruling Frelimo party, was rigged.

Frelimo had sharply criticized Cistac’s opinion. Hundreds of protestors marched in Maputo on 7 March, to demand justice for the lawyer.

Mozambique continues to struggle with poverty, displaying shockingly low indicators: literacy at just 55% and life expectancy under 50.

Corruption is high. It is placed at 119th on the Transparency Index. It comes a lowly 133rd on the World Economic Forum’s Global Competitiveness Index.

The Forum is critical across a range of issues: weak institutions, excessive red tape, poor infrastructure. Even health and education services are in need of significant improvements. Access to finance and corruption are the two most cited barriers to doing business in the country.

4

Iran

High-level negotiations between the US and Iranian governments over Iran’s nuclear programme have provoked a backlash from conservative elements in both countries. US Republicans have voiced opposition to the approach of the Democrat administration’s initiative, headed by Secretary of State John Kerry. Yet a report in the hardline Iranian newspaper Kayhan in March 2015 criticized Kerry’s counterpart, Mohammed Javad Zarif, for ceding too much ground to the USA. Shortly afterwards, the Senate Majority Leader in the US, Republican Mitch McConnell, said the Senate would vote for ‘another heavy dose of sanctions’ on Iran without a nuclear agreement.

The Iranian government wants to a deal to lessen the impact of trading sanctions.

The economy has grown over the years with the help of oil revenues, but is in need of diversification. It is ranked 83rd in the most recent Global Competitiveness Index of the World Economic Forum, scoring well on education, macro-economic positioning and market size. Literacy and life expectancy are fairly good, at 85% and 72 years respectively.

But it needs improvements to the effectiveness of the goods, financial and labour markets, the Forum recommended.

Access to finance and the instability of policy are the two most cited factors making business difficult in the country.

On anti-corruption, Iran does not score well, being placed 136th on the Transparency Index.

www.heditionmagazine.com

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5

Sweden

Like Switzerland, Sweden has unusual challenges posed by being a relatively successful economy with its own currency, adjacent to the much larger eurozone.

Currency appreciation often has to be countered, and the Swedish central bank has imposed negative interest rates in response to the European Central Bank’s bond-buying activities. The intention is to stave off deflation, but the risk is a speculative property bubble.

The Riksbank cut its key interest rate by 0.15 percentage points in March, taking into negative territory at -0.25%, and announced that it would buy a further Kr 30 billion ($3.5 billion) of government bonds.

Some economists warned that the ultraloose monetary policy could encourage households to take on more debt, fuelling unsustainable house price rises.

Under official policy the Scandinavian country, which joined the EU in 1995, will the Krona, or Crown, will join the single currency once conditions are judged right.

Like other Scandinavian nations, Sweden has an excellent record on anti-corruption, standing at 4th in the international league table published by Transparency International.

It has a high competitive ranking, but has fallen four places to 10th in the most recent Competitiveness Index.

There is praise for macroeconomic conditions and relatively low levels of public debt and fiscal deficit.Problems include labour regulation and high taxes, but the country continues to score well on education and innovation.

www.heditionmagazine.com

6

Thailand

Thailand has improved its competitiveness in recent years, leaping six places in the most recent rankings to reach 31st place, ‘despite its prolonged political crisis’, the Global Competitiveness Index notes. It scores well for macro-economic position, a high savings rate and market efficiency.

Health and primary education score particularly well, while further education has a moderately high ranking The crisis refers to the opposition to the governing elite and subsequent crackdown in the past two years. Protests began in late 2013 over a proposed political amnesty bill. Protestors said that it would allow the ousted former leader Thaksin Shinawatra - the brother of the then Prime Minister Yingluck Shinawatra - to return to the country without facing jail. There was a general election in early 2014, ruled invalid by the Constitutional Court owing to disruption by the opposition. In May 2014 Shinawatra was dismissed by the court and shortly after there was a military coup.

The current leader of the junta, Prayuth Chan-ocha, has taken an increasingly hard line. Although the competitiveness rating is good, authors of the Competitiveness Index warn that political instability, red tape, corruption and uncertainty over property rights present significant risks.

The level of trust in politicians is among the lowest in the world.

Thailand scores rather low on the Transparency Index, at 85. Social and health indicators, however, are good with a literacy rate of 94% and life expectancy of 74.

7

Vanuatu

Cyclone Pam had a devastating effect on this small, low-lying Pacific archipelago when it struck on 13 March 2015.

The islands have a very exposed, oceanic location, situated between a triangle that comprises the Solomon Islands, New Caledonia and Fiji, around 2,000km to the east of the Queensland coast of Australia.

Vanuatu has a population of around 250,000, across 65 islands. The most southerly islands, which are home to many subsistence farmers, were the most badly hit. Advance meteorological warnings seem to have prevented significant initial loss of life, but damage to agricultural land and infrastructure is extensive. Australia, New Zealand, France and the UK all pledged emergency assistance. The President Baldwin Lonsdale has spoken of the nation having to ‘start anew’. The President added that the cyclone had ‘wiped out’ years of development of infrastructure. With many homes completely flattened, it is likely to be years before the islands fully recover.

The airport at the capital Port Vila was able to reopen soon after the storm.

Initial aid consists of tarpaulins, medical supplies and water containers, but in due course much of the infrastructure will have to be rebuilt.

The nation has already complained that climate change and rising sea levels have led to some loss of agricultural land, with farmers forced to move further inland.

There is no stated ranking in the most recent Transparency Index, and the tiny economy is not featured in the most recent Global Competitiveness Index.

8

Costa Rica

In March 2015 Costa Rica was able to announce it had managed to supply all energy needs for the small Central American country from renewable supplies for 75 consecutive days. Heavy rainfall boosted hydroelectric power, enabling electricity generating facilities to avoid having to burn fossil fuels, the Costa Rican Electricity Institute said.

The nation of just 4.7 million residents is a popular tourist destination, rich in wildlife and with attractive beaches on both the Pacific and Atlantic coasts. It has enjoyed internal peace in recent decades, in sharp contrast with Nicaragua, Guatemala and El Salvador.

The country has not had armed forces for several decades since abolition by President José Figueres Ferrer in 1948, though its security is underwritten by the USA. There are internal security forces, and the country has a minor border dispute with Nicaragua, but there is no immediate threat to the non-military status.

Life expectancy is just under 80 and literacy is 96%. It scores relatively well on anti-corruption, being placed 47th on the Transparency Index.

On the most recent global competitiveness index, it rises three places to 51st, scoring strongly on education, IT literacy and quality of institutions. The Index compilers did note weaknesses, however, in transport infrastructure and access to finance. There are also concerns over macro-economic management and a public sector deficit.

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THE NEED FOR A POSITIVE PROPHECY

By Professor Carlo Pelanda

I

n Financial Operations Rooms there is euphoria, by contrast, in think-tanks dedicated to long-term scenarios, there is concern.

In the latter, increased use of robotic and computer systems instead of human labour (the new normality characterized by stagnation in Western economies), the unlikelihood that public debts will be paid off, plus the narrowing of the global area where economic and financial operations can be carried out with decent risk control are being discussed.

In the think-tanks I attend, I recommend not overemphasising the negative scenarios which suggest an implosive future. This is for two reasons. The first, comes from the lesson learned from the mistakes of the Club of Rome, and other similar cases in the ‘70s, which assumed limits to development, based on projections which didn’t take into account the ameliorative variables that later occurred. Whilst they didn’t stop the drive of technological capitalism and development, they did contain it which supported an anti-capitalist reaction, fuelling the birth of restrictive rules and a culture where prudence was more important than innovation - a lethal virus for technological capitalism.

The second reason is related to first: if the market discounts the remote scenarios

prevailing today, it could lose momentum and the technical liquidity it has available wouldn’t find a psychological multiplier able to have a growth effect in America and Europe.

But does it make sense to aid recovery by separating market and thought, as well as short and long-term scenarios, so that a lack of awareness could create more active, eager and bold economic players?

It would make sense if central banks could maintain quantitative easing indefinitely, but this would be impossible.

Therefore, the right strategy is to counter negative prophecies, as these are a result of restrictive thought and not anticipations of reality. The market moment: the West’s recovery lacks the driving force of an optimistic prophecy that shows a future from which to extract wealth in the present.

Perhaps in the Western think-tanks and universities we should start to design new solutions rather than to sadly refine the growing list of problems.

Prof. Carlo Pelanda, www.carlopelanda. com, is Director of the PH. D. Programme in Geopolitical Economy, Marconi University, Rome, and Member of the Academic and Policy Board of the Oxford Institute for Economic Policy (OXONIA), Oxford

www.carlopelanda.com www.heditionmagazine.com

11

Three numbers for China

By Sergio P. Ermotti, Group Chief Executive Officer at UBS

O

ver the past thirty years, the pace of development in China has been astonishing and unprecedented.

China’s growth over the next ten years will likely be slower, but slower does not mean slow. No other large economy can come close to the growth China has today.

The Chinese consumer is now the most important in the world, and China will soon be the world’s largest consumer market.

Urban per capita GDP will reach some 10,000 dollars per year within a decade.

China’s population will also have a better safety net, encouraging them to save a little less and spend a little more. Let me tell you the three numbers that I believe will influence China’s growth story over the next 10 years. 221, 7.5 million and 440 billion.

221 is the number of cities with over a million people by 2025.

Urbanization will continue to create massive infrastructure and emerging middle-class demand.

7.5 million. This is the number of students graduating every year.

These talented people are tomorrow’s wealth creators, something we at UBS welcome, being the largest wealth manager in the world.

440 billion. This is the amount in dollars Chinese consumers will spend online this year, making China the world’s largest e-commerce market. And this is expected to reach a trillion dollars within five years.

These numbers are a good indicator of China’s status as a nation with world-class technology, and of the progress made in rebalancing its economy.

You get the picture. The fundamentals are great. But what else will help China grow?

Well, there are positive economic reforms designed to support growth. These include: the deregulation of pricing in key areas like utilities and services; the continued growth of the private sector, including the ongoing reform of SOEs and the development of ‘mixed ownership’ and, last but not least, the acceleration of pension and health insurance reforms. The NPC made it clear earlier this month that this pace will be kept up. Clearly, this growth has to be managed and funded in a sustainable way. China’s leaders have been thoughtful and considered in the way they have sought to liberalize the country’s financial sector. This approach must be continued if sustainable growth is to be secured.

If we step back and think about first principles, then it is clear that financial intermediation – connecting sources of capital with users of capital in a productive and efficient way – is a precondition for optimal growth. And a key component of that is the development of deep and liquid capital markets. Getting this right is important, and not only for China.

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China’s policymakers have an inherent advantage. They can not only scrutinise global best practice, but also learn from the mistakes of others. This allows them to make more informed choices about what will work best for China. For example, Europe is currently wrestling with an over-reliance on the banking sector.

Around 75 per cent of all corporate financing in Europe is provided by banks, compared to 30 per cent in the US. Europe has therefore had to begin a difficult debate on capital market union.

China has already made progress on this front.

Over the last 15 years, the proportion of formal bank lending in China’s total credit system has declined from 90 per cent to around 70 per cent today. On the other hand, the rise of the shadow banking system – which may help improve the efficiency of credit allocation in the long run – needs to be reined back.

This will allow regulatory checks-and-balances to be applied, and risk management systems to be established or enhanced. It’s clear that having an efficient debt capital market is very important.

Domestic bond issuance reached 2 trillion dollars last year, up 41 per cent on 2013. At the same time, China’s international bond market is buoyant, with issuances last year reaching the equivalent of 139 billion dollars, more than half of the total in Asia.

In addition, in the last 20 years, the capitalization of the A-share market has increased over 200 times to 6 trillion dollars, making it the world’s second-largest equity market. Derivatives markets will also be crucially important for China. The development of the futures market will play a vital role in hedging and risk management, ultimately creating a more efficient, less risky economy.

If capital markets are the bridge between sources and users of capital, China will need more bridges and more traffic across them.

With 15 trillion dollars in bank deposits, growing at 2 trillion dollars a year, China can recycle savings into productive assets.

Financial reform is crucial to the healthy development of the Chinese economy in the longer term. Indeed, financial sector reform is a key component of China’s economic reform blueprint, as unveiled at the Third Plenum in November 2013, and will give the market a more decisive role in allocating resources.

As a banker, I am naturally cautious. I always look ahead to spot the bumps in the road. But in the case of China, I believe that if the reform agenda is completed in full, the road ahead will be smooth. Ten years from now, China is likely to be the world’s leading economy, and it will enjoy more sustainable and betterbalanced growth.

This article was published in Swiss newspapers and also on Mr Sergio P. Ermotti’s LinkedIn Influencers profile

www.heditionmagazine.com

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FLORENCE GENEVA LUGANO LINZ DRESDEN LEIPZIG

| BUSINESS

IS BRITAIN PREPARED FOR LIFE WITHOUT A GOVERNMENT? The United Kingdom could be facing considerable political instability after this month’s General Election

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olitical geeks in the UK are getting excited about the May general election. The likelihood of an uncertain result and the rise of previously minor parties will keep many people awake until the small hours of election night, feverish with anticipation.

Few in the commentariat seem to be seriously concerned about the future of the country, or even whether it has one under existing borders. The UK faces the most important constitutional challenges since the Home Rule debate, subsequent partition of Ireland and creation of an Irish Free State a century ago, but one would not think so to view the activities of the major parties, with their attack ads, hysterical spats over relatively minor differences on fiscal policy, and simplistic sloganizing.

First, a recap: Between 1945 and 2010, with the exception of a few months in 1974, either the Labour Party or the Conservative Party enjoyed an outright majority of seats in the House of Commons, the main legislative chamber. Between 2010 and 2015 the Conservatives and the Liberal Democrats formed a coalition government that has proved to be more durable than most expected. Government deficits have been reduced, though some difficult decisions have merely been deferred. Economic growth has returned and unemployment and inflation have fallen. The public debt has continued to rise to over 80% of GDP, but the rise is at a slower pace and there is no immediate pressure on the pound sterling. The banks, whose debt-related and speculative activity contributed to the economic crisis in 2008/09, have been partially reformed.

One would expect, under these conditions, for the dominant coalition partner, in this case the Conservatives, to be in a good position to win an outright majority in the election of May 2015. Several factors complicate this picture. The first is that the United Kingdom is really a collection of mini-kingdoms and the Conservatives only have strong support in one

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of them, England. They have only one MP in Scotland, which came close to breaking away in the independence referendum in September 2014.

The final margin for the ‘No’ to independence campaign of 55%-45% looks comforting for the Union, but may be deceptive. Much of the campaigning for ‘No’ was based on fear. London refused to allow an independent Scotland to continue to use sterling, and the ‘No’ campaigners concentrated heavily on this issue.

British newspapers ran features illustrating the risks for Scottish pensioners, and the potential hazard of owing a mortgage in sterling but earning a wage in a new currency. This was a campaign won more on the Personal Finance pages than in the Politics section.

There is now a backlash against London, and a surge in support for the Scottish National Party. The Conservatives have struggled to win seats north of the border since the 1990s; now support for Labour and the Liberal Democrats has also collapsed. This is the intriguing but potentially dangerous scenario that awaits UK citizens on the morning after the election: it is likely that the only viable junior coalition partner to form a UK government, in terms of the number of seats, is a party that does not even want the UK to exist. It also has an anti-nuclear policy, with implications for NATO and relations with the USA. Domestically, the SNP has already secured a commitment from leaders of the Labour Party, the Conservatives and the Liberal Democrats for extra powers for the Scottish Parliament and Executive.

This process has begun with the formation of the Smith Commission, but it deepens some constitutional anomalies. Since Scotland acquired its own parliament in 1999, it has been possible for members of Scottish constituencies of the Westminster Parliament to vote on domestic issues such as health and education that only affect England, or England and Wales, but their counterparts south of the border have no say on those issues in Scotland.

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As things stand, Scotland, Northern Ireland, Wales and Greater London have parliaments with varying amounts of power. The rest of England does not.

The assumption for the past 16 years has been that, because England outside London constitutes around 70% of the population, it’s reasonably well served by Westminster so the anomalies don’t matter. But with more devolution, including tax-setting and spending powers for Scotland, the case for an English Parliament or regional Parliaments becomes stronger.

Nipping at the heels of the Conservative Party, especially in the east of England, is the anti-European Union UK Independence Party, which now has two MPs and may gain more. David Cameron, the Conservative Prime Minister, has promised a referendum on Britain’s membership of the EU, throwing up a further constitutional and economic uncertainty, as well as potentially further alienating the Conservatives from Scottish voters, who are more pro-EU. Then there is the deficit and the debt. All on the left of politics, including the SNP, and the Greens, who have one MP, oppose ‘austerity’, but are vague on how debts can be controlled, spending maintained and the economy rebalanced (there is also a trading deficit). The UK has not experienced austerity to anything like the degree of other debt-affected nations such as Ireland, Spain or Greece. Some tough decisions await future London governments, which none of the parties fully acknowledge.

Britain’s political leadership has not faced such a demanding strategic agenda for decades. Major decisions cannot be ducked on: constitutional reform, membership of the EU, defence, public debt, and rebalancing the economy. Yet the parties are behaving tactically, trading insults and scarcely looking beyond the end of the year, never mind the next couple of decades.

So what will happen over the summer when, in all likelihood, there will be no government for a few weeks or even months? Will the Queen intervene to ensure

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that at least the Treasury, Defence, Home Office and other essential Departments have leadership, risking anti-monarchist protests in Glasgow? Will there be a grand coalition of Labour and Conservative, further undermining their support in Scotland?

The most likely outcome is a ‘confidence and supply’ arrangement, where a minority party forms a government, seeking support from a smaller party or parties on a case-by-case basis. This would most likely be followed by another election before long – but with a similarly inconclusive result.

For all the disarray and constitutional anomalies, it’s possible that the Brits will somehow muddle through, and may even emerge with a stronger, more democratic constitution. The rhetoric is often vicious, but Parliamentarians call each other by their first names and there is a considerable degree of cross-party cooperation on some issues. Political violence has diminished since the Northern Ireland peace deal and the army hasn’t interfered in domestic politics since the 1640s.

Nicola Sturgeon, the new leader of the SNP, is more moderate in rhetoric and negotiating position than her firebrand predecessor Alex Salmond. She has talked of a deal for the whole UK, not just Scotland, and has dropped demands that a condition of supporting a minority Labour Government on certain votes would be to axe Britain’s nuclear weapons system Trident.

Complicating matters, however, Salmond is standing for the Westminster parliament so is likely to have a pivotal role in coalition negotiations.

Meanwhile, government agencies, business life and society seem to trundle along in a normal fashion. Is this a sign that a moderate, adaptable people will construct a modern constitution that balances different interests fairly, while generating enough wealth to prevent government default and economic crisis? Or is it a complacent calm before an unprecedented storm?

By Philip Whiteley

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BOOK CLUB Thousands of new book titles are released globally every month, all vying for your attention and a place on your bookshelf. But finding the gems amongst the exhilarating thrillers and fascinating nonfiction can be painstaking work even for the most dedicated book browser. The new H Edition Book Club is here to help, providing a selection of choice reads that deserve your consideration. fundamental and enduring relationship: that with our personal colony of microbes. This is a fascinating and vitally important book and a compulsive read for anyone who wants to understand ‘how we work’.

First up is A Song of Shadows, the highly anticipated next instalment in John Connolly’s Charlie Parker series.

Recovering from a near-fatal shooting and tormented by memories of a world beyond this one, private detective Charlie Parker befriends a widow named Ruth Winter, but she has her secrets. She is hiding from the past, and the forces that threaten her have their origins in the Second World War, in a town called Lubko and a concentration camp unlike any other. Old atrocities are about to be unearthed, and Parker is about to risk his life to defend a woman he barely knows, one who fears him almost as much as she fears those who are coming for her.

Connolly writes addictive page turners, but there’s a real humanity to Parker, his central character. Recommended.

More Life, Please! The Performance Pathway to a Better You by Dr Christian Marcolli is the perfect read for anyone who wants to create a better work/life balance.

We all strive to ‘get more’ from life, but can struggle to find a positive harmonization between our career and family commitments. Christian is a successful coach of top leaders and athletes (including Roger Federer!) and his book takes you from adequate to astounding in easy to follow and practical steps, changing your life for the better.

You are just 10% human. For every one of the cells that make your body, there are nine impostor cells. You are not just flesh and blood, muscle and bone, brain and skin, but bacteria and fungi. You are not an individual, but a colony of microbes. Far from being passive, the trillions of microbes that live on and in you are intimately involved in running your body. Even aspects that you think of entirely as ‘you’ turn out to be run by ‘them’ – like your immune system. 10% Human: How Your Body’s Microbes Hold the Key to Health and Happiness by Alanna Collen explores the modern epidemics of ‘Western’ diseases – obesity, autism, mental health problems, gut disorders, allergies, auto-immunity, and even cancer – and argues that most have their root in our failure to cherish our most 16

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Sometimes great history books can be more addictive and compelling than the best fiction. To mark the 800th anniversary of the signing of Magna Carta, bestselling historian David Starkey explores the Magna Carta and its influence on Britain today.

At Runnymede, on the banks of the River Thames, on 15 June 1215, the seal of King John was attached to the Magna Carta, and peace descended upon the land. Or that’s what successive generations have believed. But is it true? And have we been persuaded (or persuaded ourselves) that the events of 15 June 1215 not only ended a civil war between the king and the barons but – as if by magic – established a British constitution beloved and copied throughout the world? Informative, entertaining and controversial, Magna Carta: The True Story Behind the Charter challenges centuries of myth-making to demonstrate how important it is we understand the true significance of that day beside the Thames, eight hundred years ago.

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Here’s another piece of enthralling fiction for you. Trail of Broken Wings by Sejal Badani reveals the burden of shame and secrets, the toxicity of cruelty and aggression, and the exquisite, liberating power of speaking and owning truth.

When her father falls into a coma, Indian American photographer Sonya reluctantly returns to the family she’d fled years before. Since she left home, Sonya has lived on the run, free of any ties, while her soft-spoken sister, Trisha, has created a perfect suburban life, and her ambitious sister, Marin, has built her own successful career. But as these women come together, their various methods of coping with a terrifying history can no longer hold their memories at bay. Buried secrets rise to the surface as their father – the victim of humiliating racism and perpetrator of horrible violence – remains unconscious.

As his condition worsens, the daughters and their mother wrestle with private hopes for his survival or death, as well as their own demons and buried secrets.

Emotive and powerful reading!

Brian Clarke has an ordered life, a life of village cricket, solid principles, and careful interaction with those around him. He is resolutely fending off advancing middle-age with a straight bat, determined to defend his wicket against life’s occasional fast balls.

Then he meets Elizabeth – a gentle, caring, genuinely selfless soul who is a glowing bloom amongst the ordered hedgerows of his existence. As Elizabeth demands Brian’s interest…and breathes hope into his heart…he must reassess his self-defined role as the lone batsmen and fight to find the courage to fall in love. Or risk losing her forever. Close of Play, the debut novel of author PJ Whiteley, is a thoughtful, funny, beautifully honest story of love and manners. It’s a tale of missed opportunities and a chance at redemption – and the fear of opening our hearts to another when we think we’ve forgotten how to love. This will appeal to all those Jo Jo Moyes fans!

I look forward to sharing more great reading recommendations with you soon.

Matthew Smith, founder of Urbane Publications www.urbanepublications.com 17

A BEAUTIFUL MIND

By Kim Baden-Kristensen, CeO and fOunder Of Brain+

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our brain is lazy! Yes, that’s right. If you’re brain had a choice, it would be to lie on the couch all day in effortless inactivity.

Of course I’m not talking about your brain in particular, as a matter of fact, all brains are lazy. This goes way back to good old evolution and survival. Your brain wants to minimize its energy consumption. The less energy it needs, the less food you need to hunt and gather, and the higher your likelihood of survival.

So what does your brain’s inherent tendency to procrastinate mean to Brain Health? A lot it turns out. In fact, too much inactivity is one of the biggest threats to Brain Health.

Your brain builds and strengthens its neural connections when it’s active. But it also allows them to wither away if you don’t use them for longer periods. Using your brain actively is like watering a plant.

If you become too inactive it’s as if you are no longer watering the plant and it will wither and eventually die.

In the context of brain health, you can think of unhealthy inactivity, as avoiding effort. This is when you choose the easy way out, the familiar way, the path of least resistance. When you do something easy, instead of doing something that requires effort. For example, to just do a usual routine instead of spending some time to engage in a conversation with your partner. Sounds familiar? Or, when you choose to stay within the comfort of you home, instead of going for a walk or a run. Maybe you content yourself with staying in the same job, although it has become routine for you. Maybe you can do your job blindfolded with one hand tied behind your back.

Maybe you choose not to learn a new language, because it seems like too much work, and besides, you’re getting to old to learn a new language, right?

You get the picture. But let me give you some evidence of the consequences of choosing the path of least resistance.

Inactivity changes your brain, and not for the better. An inactive lifestyle reduces grey matter in the brain and can cause instabilities in the regulation of the nervous system. Numerous studies have found correlations between activity levels and brain health. The studies find that higher levels of activity improve learning and memory, promotes growth of new neurons, and prevents and decreases likelihood of brain disease. Even if you are nowhere near retiring from the job market, you should know that every day you have a choice to strengthen your brain’s health and performance, or let it just follow a regular path of slow ageing decline.

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If you are now thinking, hey, I’m not lazy, I’m making an effort, I’m working hard... then I congratulate you. You’re not letting the couch control your life, but I also challenge you to keep listening, because hard work alone is not enough, it’s also about the type of activity you do, more on this in the next SmartSession. Now let’s learn the technique of this session.

Technique The technique of today is called ‘Take Action’.

The goal of this technique is to make you take action that requires effort and do that more frequently, because it will strengthen your brain, increase your willpower, and boost your brain health.

The technique targets all those moments in life when you have to make a choice between inactivity and action, a choice between effortless and demanding, or a choice between known and unknown.

These moments of choice happen many times during a day. They happen right when you have finished some activity, or when you stop for a brief moment during an activity. It’s those moments when you can ask yourself, should I do this, or should I do that?

The first step is to get off autopilot!

Start to pay attention to your thoughts and your emotional process right before you choose. Start noticing your inner dialogue.

When you find yourself in a moment like this, ask yourself: • What are my options right now?

• Why do I feel attracted to doing this rather than that?

• Is it because it’s comfortable or easy?

• Or is it because it requires less effort, is less challenging, or less intimidating?

• Would I accomplish more if I chose the more demanding activity?

• Would I feel better afterwards?

The next step is to apply your willpower and inner motivation to choose the more demanding Action, instead of the easy and effortless one. You’ll often feel resistance. Try to overcome it and take the first step. Once the first step is taken, the rest comes more easily.

Play with this technique. You’ll find that it will be easy to Take Action in some situations and very hard in others. The most www.heditionmagazine.com

www.brain-plus.com important thing I hope you learn from this technique is to simply begin to pay attention to what happens in those moments of choice. As you become more aware of how you choose your activities, you’ll have more freedom to choose those Actions that benefit you the most.

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The human brain has 100 billion neurons, each neuron connected to 10 thousand other neurons. Sitting on your shoulders is the most complicated object in the known universe.

Usually the most beneficial Actions are the ones that require effort, but they’re also the ones that build Michio your brain’s strength and health.

Remember, you don’t have to take action 100% of the time. Rest and downtime are important and necessary too. But that being said, I’m sure that if you take a look in the mirror, you have many opportunities to Take Action more often in your life!

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Now choose the project on the list you would most like to complete. If some of them are smaller and more manageable, it can be a good idea to start there. Now take action to get the task done as soon as it makes sense, even if that means sacrificing something that seems easier and more pleasurable in the short term.

Each time you complete a task, cross it off your list. And notice the sensation of accomplishment and pleasure that Kaku naturally follows completing a task or project. This is your brain rewarding you for completion. You’ll also feel more mental space freeing up as the task is cleared from your mind.

This exercise is called: ‘Project Complete’

One of my favorite effects of this exercise is that it builds willpower.

Each time you complete a project, you build a bit more willpower.

Next time you face a decision point it becomes that much easier to take action. It’s a win-win-win. You complete activities that benefit your life, you train your willpower, and you improve your brain health. This is one of the practices you may want to hold on to for the rest of your life.

Take out a pen and a piece of paper. Now make a list of projects in your life that you still haven’t finished or even started. Maybe you need to book the flight for your next holiday, arrange a dinner for your partner, read a specific book or clean out your cupboards.

Nicely done! You made it through the first Brain Health SmartSession. If you have to take away just one thing, remember that staying active is the key to a long healthy life for you and your brain. So go and take some action until we meet again.

exercise Let’s put the Take Action technique into a structured real life practice that will also build your willpower to new levels.

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| CULTURE

Richard Stone THE MAJESTIC CREATOR OF ROYAL ART I

t is not just grand occasions of State which identify the importance of our royal family in modern 21st century Britain. As supporters, patrons and beneficiaries who influence the arts, for years, members of our royal family have supported composers, sculptors and particularly portrait artists and cemented their position and place not only within our society, but throughout the world.

The portraits produced of the royal family – particularly those of Her Majesty, the Queen – can be similar in subject likeness and profoundly deep in symbolism, they may be simple representations of the individual or sometimes even artistically daring. There have been hundreds of portraits of the Queen produced over the 62 years of her reign, however, one royal portrait painter holds a special place in her mind and eye.

The Queen was so impressed with Richard Stone’s exact likeness of her in his 1992 portrait celebrating the 800th anniversary of Colchester’s Royal Charter, that she approved the image to be replicated and included for purchase from the Royal Collection. Richard is the only royal portrait artist to have this honour bestowed upon him, which is seen by many as a royal nod of approval.

His famed and royally favoured image was also featured in 2013 by the Royal Mail as a stamp in their Diamond Jubilee stamp series, and can currently be found, in all its regal splendour, at the town hall in Colchester, Essex.

Richard is a much favoured, and well respected, royal portrait painter who has completed over 40 royal commissions in the four decades of his career. He has painted every member of the royal family, with the exception of Princess Alexandra and the late Diana, Princess of Wales, and his rise to international fame has also seen him capture the likenesses of Baroness Thatcher as well as private people on the domestic front. He has travelled the globe to complete portraits

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of Archbishop Desmond TuTu, Nelson Mandela, Luciano Pavarotti, Mrs Reagan, Dame Joan Sutherland and countless celebrities.

From the age of just four, Richard believed that he would one day paint Her Majesty Queen Elizabeth II. But his determination was met with challenges and tribulations.

Just a few short months after he had stood outside Buckingham Palace and told his mother he would paint the Queen, he suffered a near fatal accident which left him in a coma, with a fractured skull and permanent deafness in his right ear. Says Richard of his accident: ‘For the following two years I found hearing extremely difficult and I was tormented daily with extraordinary noises in my head. My parents took me to every possible specialist to see whether anything could be done to repair my broken eardrum.’

As a result of his deafness, Richard’s primary school experience was sometimes less than entertaining.

It would often render him unable to participate fully in lessons, so his teachers would give him pencils and notebooks and he would draw to keep himself busy. ‘I’m convinced that, as it was my only source of amusement – and, quite possibly, communication – it created in me a need to draw quickly and, perhaps, accurately. I think I developed a facility to draw quite well because I could do nothing else.’

Since then, Richard’s life has been on the fast track.

He developed his artistic talents as the protégé of Sir Gerald Kelly (assistant to Claude Monet), who not only taught Richard the tricks of his trade, but encouraged him to use his talent, his personality and his desire to succeed as the basis of his career. Despite the portraits already under his belt and the promise he displayed, The Royal Academy, the Slade and the Colchester School of Art all denied Richard a place at their artistic establishments, which he retrospectively regards as a

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positive: ‘They did me a favour. What they did was to spur me on to go it alone. My parents were worried, but did nothing to dissuade me and Sir Gerald kindly spoke to them, saying he thought I would make a go of it.’

When Kelly died, the young Richard picked up his brushes and promoted his talent to the very person his master had discussed with him in many conversations: Queen Elizabeth, The Queen Mother.

The Queen Mother along with her husband King George VI, had been Kelly’s subject. Richard recalls ‘The commission that gave him the most pleasure, and the most agony, was painting the state portraits of George VI and his consort, Queen Elizabeth The Queen Mother.

He spent seven years on those at Windsor Castle, and recalls what a wonderful person the Queen Mother was – ‘a perfect sitter, as I might find out were I ever to paint her portrait.’ And paint her portrait he did – not just once, but four times before her death in 2002.

‘The Queen Mother was amazingly generous with her time,’ says Richard, ‘and would invite me for lunch or tea and to meet friends. She would bring her family to view the portraits in progress. It was astonishing, really – I was only twenty-two. She had an amazing presence.

She was the consummate professional when it came to meeting people and making them feel welcome and comfortable, and she was interested in so many things. We’d chat about art. It was wonderful hearing her talk about sitting for artists like John Singer Sargent, Augustus John, Graham Sutherland, John Bratby and, of course, Gerald Kelly – she’d sat for everyone.’ As the Queen Mother had been one of Richard’s first clients, it was with her encouragement and support that he was able to expand his confidence, technique and success into what we see today. Following in the footsteps of his first royal subscriber, the members of the Queen Mother’s family have continued to seek Richard out as their portrait painter of choice, something which has resulted in one royal commission per year since his first encounter with the Queen Mother.

Despite the famed royal pomp and pageantry which will come to pass in June 2015, it is subtle and still works of art which will immortalise the symbolism and importance of the British Monarchy for centuries to come. Culture, creativity, grace and symbolism are evident in many portraits of our royal family, but the stories behind these works are often untold. As events, trends and people come and go, one constant remainder for the people of Britain will be the special and important moments captured between a royal subject and the portrait painter, Richard Stone. www.richardstoneuk.com

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| INTERVIEW

Bec Astley Clarke mbe Founder and Executive Chairman of British Fine Jewellery Brand, Astley Clarke Today, Astley Clarke is one of the UK’s leading online and offline Fashion Fine Jewellery Brands and recognised as a pioneer in luxury online retailing. Bec graduated from Edinburgh University with an MA in Politics and Philosophy and went on to work in online and across luxury brands – spending much time living and working in Hamburg, Paris and Milan. Before founding Astley Clarke, Bec was Commercial Director of iVillage.co.uk and Head of Non-Retail Strategy at Tesco.com. In December 2013, Bec was awarded an MBE for ‘Services to Jewellery’ by the Queen. www.heditionmagazine.com

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| INTERVIEW

T h e s To r y b e h i n d T h e b r a n d

A

stley Clarke was founded in London by Bec Astley Clarke MBE to celebrate design and colour in fine jewellery and to create a brand that represents all that is good and proper about British luxury. By combining the grandest of ideas with an acute attention to the tiniest of details, the brand creates refined and colourful jewellery that is designed to be layered and stacked. “At Astley Clarke we believe that our approach to relaxed luxury inspires the modern, intelligent woman to wear contemporary and fashion fine jewellery every day.”

Originally founded as an online luxury, multi-brand jewellery E-tailer housing the finest edit of international, designer jewellery; in 2009 the business opened a Design Studio in London and invested in creating own brand collections. Today Astley Clarke sell only own-brand Fashion Fine Jewellery collections and has

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successfully made the transition from multi-brand E-tailer to established multi-channel British luxury brand, making it a fine jewellery industry first. The brand has successful concessions in iconic department stores Harrods, Liberty and Selfridges and a number of global wholesale partners including Lane Crawford in Hong Kong, Nieman Marcus and Saks Fifth Avenue.

The Astley Clarke brand was named after Bec and her family name. Bec’s grandfather, Sir Cyril Astley Clarke, discovered the cure for Rhesus Negative babies for which he was knighted in 1974. He founded the cure by combining his butterfly research and his genetic studies – on the suggestion of his wife Fao. His butterfly collection is currently housed at The Natural History Museum in London and Bec has been inspired by this collection; mimicking the butterfly wings within gift wrap, and using the butterfly icon throughout the brand.

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on hold by a customer services department for half an hour, especially when you’re buying from a luxury brand.

All queries at Astley Clarke are handled by our trained team of personal shoppers with the highest level of jewellery knowledge ready to answer any questions or place an order from you.

What advice would you give to companies wanting to take their business online?

You have to know and understand your customer and the way they like to shop. It has to be convenient and easy to use but also still a luxury service. A tricky combination but an essential one.

You founded Astley Clarke, the luxury online jewellery boutique in 2006, tell us a bit more about how you launched?

At the time a lot of established jewellery brands were very slow to move online and many people didn’t think it was possible to sell Fine Jewellery in that space, including established jewellery powerhouses and potential investors. I recognised a gap in the market for intelligently designed fashion fine jewellery, to fill the gap between Bond Street and the high street.

When I founded Astley Clarke.com we were and still are absolutely committed to marrying old fashioned customer service with cutting edge technology and innovative online content. We take a fresh, modern approach to luxury retail and challenge the preconceptions of online shopping.

Share your secret weapons – what business apps or tools help you run your business and personal life efficiently?

It’s no secret or revolutionary app, but I couldn’t live without my calendar to organise my days. It’s the first thing I look at every morning to plan my day and to find out what meetings are ahead.

What do you do to relax in your free time?

You’ll always find me spending time with my family and dog Como. Usually on a walk around Westbourne Grove or at our house in Umbria, Italy – the perfect getaway any time of year.

Your favourite London restaurant/s?

I love J Sheekey’s and Wilton’s in St James. And it’s not technically a restaurant but you cannot beat Oddono’s for an Italian gelato.

With online sales rapidly growing, how did you adapt your business strategy to meet the growing demand?

What are the benefits of having a London-based business?

In 2009 we opened our London Design Studio, creating own-brand collections with our newly appointed Creative Director Lorna Watson. In 2014, the brand transitioned to a single brand retailer, offering only our own contemporary and fashion fine collections including our grown-up friendship bracelet collection, Biography and The Icon collections. Astley Clarke is now one of the UK’s leading fine jewellery brands both online and offline with UK concessions in Harrods, Selfridges and Liberty and international retail partners including Saks Fifth Avenue, Neiman Marcus, Lane Crawford and Moda Operandi to name a few. It’s a really exciting time for the brand – I am a firm believer in the online/ offline synergy and how it can successfully build a brand.

On a personal level it’s great in that it’s the city in which I grew up and know very well. It’s also an international hub for style and cutting edge when it comes to creativity and technology.

How did you extend your Personal Shopper experience from in-store to online?

I truly believe that every Astley Clarke customer should benefit from good old fashioned British customer service. There’s nothing more frustrating than being put

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I recognised a gap in the market for intelligently designed fashion fine jewellery, to fill the gap between

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Bond Street and the high street

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“ Fairytales tell imaginary stories. Me, I’m a living person.

I exist. If the story of my life as a real woman were to be told one day, people would at last discover the real being that I am.”

Grace Kelly PRINCESS OF MONACO

S

he was the Oscar-winning movie star who bewitched Hitchcock, captivated cinemagoers and ultimately became a real life princess when she married Prince Rainier of Monaco. Despite her death over thirty years ago, the image of Grace Kelly endures, she remains a fashion icon, the ultimate icy blonde who has been described as “the most beautiful actress of Hollywood’s Golden Age.” Yet, behind the stunning good looks and the glamorous lifestyle is the story of a hard-working woman who, when forced to give up her career on marrying, devoted her life to philanthropic causes.

Her image, and her sense of fashion remain iconic to this day. In 1956 she was frequently pictured holding a Hermes bag in front of her abdomen (perhaps to prevent intrusive pictures being taken of her pregnancy) – this became known as the ‘Kelly bag’. The ‘Grace Kelly Look’ of white gloves, neatly pressed shirts, narrow cropped trousers and demure tailored day suits worn with a sensible mid-heel and, naturally, the Hermès Kelly bag, is so famous that the Victoria and Albert museum dedicated an exhibition to her clothes entitled ‘Grace Kelly: Style Icon.’ Her wedding dress was exhibited at the Philadelphia Museum of Art, and in 2009 a plaque was placed on the Rodeo Drive ‘Walk of Style’ in honour of her contribution to style and fashion.

Grace Kelly was born in 1929 to affluent parents who, as children of immigrants to America, were from humble beginnings. Her mother was a beauty queen and model who became the first ever coach of the women’s athletics team at the University of Pennsylvania and

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her father, an Olympic medal winner as part of the U.S rowing team, was a self-made millionaire who owned one of the most successful brick companies on the East Coast. It seems she inherited their tenacity and when she finished high school she single-mindedly pursued her dream of acting, leaving home to pursue a career in New York. She gained a place at the prestigious American Academy of Dramatic Arts and graduated when she was 19.

The world of film soon beckoned and just three years’ later she was cast in her first movie, Fourteen Hours, with Gary Cooper. Despite the dazzle of Hollywood, she remained grounded, and when she signed a seven year contract with MGM she insisted on two conditions that reveal her un-starry nature: that she be released to do stage work every two years and she be allowed to live in New York.

She would go on to star in eleven films, perhaps the most famous of which are the ones she made with her friend and mentor Alfred Hitchcock. Hitchcock spotted Kelly when she did a screen test for the film Taxi and cast her in his movie Rear Window. Kelly herself was so impressed with Hitchcock that she turned down the role of Edie Doyle (for which Eve Marie Saint won an Oscar), and the opportunity to work with Marlon Brando, in the film On the Waterfront, to work with him. Hitchcock’s camera work remains a potent tribute to both her beauty and to the unique chemistry that she created with the camera. She was sublimely beautiful and yet managed to convey a world of emotion simmering beneath that icy surface – small wonder that Hitchcock described her as a “snow covered volcano.”

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In 1955, having won an Oscar for her performance in The Country Girl, she was one of the highest paid and most respected actresses in the world. She was asked to join the United States Delegation Committee at the Cannes Film Festival. During a photoshoot here she met Prince Rainier III of Monaco. The press was delighted with this glamorous courtship describing it as a ‘fairy tale romance.’ She married Rainier in 1956 in a very public and opulent ceremony that cemented her new role as Princess of Monaco. Her marriage meant that she had to give up acting (in fact Rainier actually banned her films from being shown in Monaco), which led to her focussing her energies on philanthropic work. She founded AMADE Mondial, a Monaco-based not-for-profit organisation which, according to UNESCO protects the “moral and physical integrity and spiritual wellbeing of children throughout the world without distinction of race, nationality or religion and in a spirit of complete political independence.” She also anonymously assisted emerging theatre, dance and film artists in America.

After her death, The Princess Grace Foundation was established to continue this work. Thus, despite her fame and her social rank, Kelly remained down to earth and focussed on what she saw as the important things in life. She said of herself; “I would like to be remembered as someone who accomplished useful deeds and was a kind and loving person. I would like to leave the memory of a human being with a correct attitude and who did her best to help others”.

Kelly was a unique combination of beauty and compassion and she had an impact on everyone she met. Her tragic death, in a car crash, aged just 52 shocked the world. James Stewart, in his funeral eulogy for her, said: “Grace brought into my life, as she brought into yours, a soft, warm light every time I saw her, and every time I saw her was a holiday of its own.” Grace’s light continues to be cast both in her image and in the work that her charities are still doing in her name.

“ Although I’ve played a wide variety of roles, I’ve never had a chance to act in a story written specially for me.” www.heditionmagazine.com

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| INDUSTRY

DIAMONDS ARE FOREVER

By ILIAS KAPSALIS SKOUFOS MBA GIA GD AJP Head Designer for Bentley & Skinner

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ndia was the only source of diamonds for almost two thousand years, until early 1700s.

Golconda was the main market city of the diamond trade and the stones were coming from numerous mines around the fortress city. Some of the most famous diamonds are believed to have been excavated from the Golconda mines like the Koh-i-nor which is part of the Crown Jewels, the Hope and the Wittelsbach Diamond.

In 1725, a new find in the Portuguese colony of Brazil, helped to rejuvenate the European diamond market and during the following century, the Portuguese crown declared a “royal monopoly” on the diamond mining industry. At first, Brazilian diamonds were not as desirable as their Indian counterparts but as the supply of Indian diamonds dried up, Brazilian stones gained popularity. Twenty five years from the first discovery, Brazilian diamonds were flooding the European market and prices dropped until the early 1800s when the Brazilian supplies began to dry up.

Twenty two years later on a farm near Hopetown in South Africa a young shepherd found a small white peddle that turned out to be the 21.25ct “Eureka”. Ever since the Kimberley diamond strike of 1868, South Africa has been a world leader in diamond production with the primary sources controlled by the DeBeers Mine Company, giving some of the biggest rough diamonds ever found like the “Culinan” and the “Golden Jubilee”.

In the second part of the 20th century, new diamond sources where found in African countries, Russia, Australia and Canada. At the tiny Kingdom of Lesotho, located in the centre of the Republic of South Africa, is located the Letseng Diamond Mine, which is owned

by Gems Diamonds Limited and is noted for its high percentage of large diamonds over 10 carat.

The state controlled Alrosa, which is responsible for the mining operations in Russia since 1954, accounting for 20 per cent of global diamond production most of which is mined in Yakutia of Siberia, just below the Arctic Circle. These Russian diamond mines are located in some of the most inaccessible and inhospitable places

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on planet with sub-freezing temperatures all year long, and near-total darkness during the winter months.

Known for its Fancy Coloured Diamonds, Australia’s Argyle Mine is one of the world’s only major sources for pink and rare red diamonds, producing since the early 1980s, over 90 per cent of the words supply.

Additionally provides a large proportion of other natural coloured diamonds such as green, blue, champagne and cognac.

Two of Canada’s most productive diamond mines are Ekati and Diavik, both located in the pristine arctic wilderness of Canada’s Northwest Territories, 350 miles south of the Arctic Ocean. The Ekati diamond mine combined with Diavik produced over 7 million carats of diamonds in 2014.

The main diamond trading centres are Antwerp, Tel Aviv, New York and recently Dubai from where roughs are sent to the main processing centres of India and China.

The opening of the Argyle mines in Australia in 1980s was followed by the rise of India and specially the area of Surat as the main diamond cutting and polishing centre because of the vicinity and the low labour cost, competing with the emerging Chinese diamond cutting centres of of Guangzhou and Shenzhen. The stones that are processed in India are of smaller size, generally smaller than 0.5 carat. On the other hand the most important traditional cutting centres are found in Belgium (Antwerp), Israel (Tel Aviv) and the United States (New York) which are still of importance because of their special added value provided from their knowledge and experience in stones of large size and high quality.

The universal method for assessing the quality of any diamond anywhere is the world is: Colour: The diamond colour evaluation is based on the absence of colour. The scale begins with the letter D, representing colourless and continues with increasing presence of colour to letter Z. Clarity: Internal and external characteristics that called inclusions and blemishes are the hallmarks of the process that followed by nature in the formation of

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the diamond. The scale has six categories: Flawless, Internally Flawless, Very Very Slightly Included, Very Slightly Included, Slightly Included and Included.

Cut: The design and craftsmanship of the diamond, the proportion, the symmetry of its facet arrangement and the quality of the polish, are crucial to the stone’s final beauty and value.

Carat weight: Is the measurement of how much a diamond weights. A metric carat is defined as 0.20 grams and each carat can be subdivided into 100 points, which allows very precise measurements to the hundredth decimal place.

Investing directly in diamonds, buying the gems and storing them to sell at a later date, is the most traditional way. With increasing global appetite for diamonds and a limited number of mining operations, supply and demand are working in the investor’s favour and driving up prices. Round and cushion shape colourless diamonds are mostly in demand on the bridal jewellery sector,specially stones with weight between one to three carats. The rarer a diamond is, the more desired and valuable it is. Fancy colour diamonds counting only one per cent of the mined stones are found to be natural coloured, performanced strong even when the market turned sharply lower during the financial crisis of 2008 and 2009.

Important pink and blue diamonds outperformed practically all investment classes as consumers and investors continued to view them as a long-term safe investment. Trading in fancy colour diamonds has increased as markets have slowly recovered, driven largely by growing demand in the emerging economies of the Far East.

Red diamonds for example are so rare that only around twenty to thirty true red diamonds are known to exist and most are less than half a carat in size. With record prices like $2 million paid for the “Argyle Phoenix”, a 1.56 carat fancy red diamond auctioned by Rio Tinto in 2013, natural reds are the most desired for long term investment. Blues and Pinks are fetched new records prices, like the Vivid Pink 8.41carat diamond sold for £11.07 million and a

Fancy Vivid Blue 9.75 carat, pear-shaped diamond was sold for $32.6 million by Sotheby’s last year.

Alternative ways to invest in the diamond industry is buying shares of diamond mining companies or investing in diamond funds.

Investing in a diamond mining company can be risky, especially the companies that operate only one mine.

Conglomerates with a diverse portfolio seems as a more safe option. London listed Anglo American owns the 85% of De Beers. De Beers operating in Botswana, Canada, South Africa and Namibia coast where mine diamonds from the seabed up to 140 meters depth.

Petra Diamonds’ operations are focused in Africa, which produces about 60% of the world’s diamonds by value.

It has grown by acquisition, acquiring mines in South Africa and Tanzania from De Beers. Petra’s exploration activities are focused in Botswana, the world’s largest diamond producer by value and host to two of the world’s biggest diamond mines.

Rio Tinto is based in London and operating in Canada, Zimbabwe and is the owner of the 60% of the Argyle mine, in Australia. Argyle produces 80% brown diamonds, 16% yellow diamonds, 2% white diamonds, and the remaining 1% are pink or green. The Canadian based Dominion, is the owner of Ekati and a shareholder of the Diavik Minesin Canada and listed in the NYSE. A few funds, specialising in diamonds are available to investors.

The Investment Diamond Exchange (IDX) is a Los Angeles based diamond exchange providing private investors with a liquid and price transparent market for colourless GIA certified diamonds.

The Diamond Capital Fund,is investing in 1-5 carat diamonds, with Emdico as the inventory service provider to the fund, enabling trading of the diamonds with international dealers and the jewellers within the UK, with minimum investment at £75,000.

Pink Iguana, offer to investors the potential significant returns achievable by trading in diamonds, on an investment from £10,000 up to £1,000,000 per individual.

www.bentley-skinner.co.uk www.heditionmagazine.com

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| LUXURY

BOMBARDIER GLOBAL 6000 C RO S S I N G C O N T I N E N T S I N ST Y L E A N D C O M F O RT

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T

his month AvBuyer’s Matt Harris shares his insight as to why the Bombardier Global Express 6000 is one of the world’s favourite jets.

With its 6,000nm range, the Bombardier Global 6000 ultra-long-range business jet quite literally keeps a world of destinations at its owners’ fingertips, linking London with Tokyo, for example, or Shanghai with Rome non-stop.

Delivering since 2012 and today costing $62.3m to acquire new, the Global 6000 was created to meet the needs of the most demanding of travellers who require comfort and style on intercontinental business trips. The evidence shows that Bombardier hit a sweet spot within the business jet market.

Warren Buffet’s NetJets fractional ownership company ordered several Global 6000 jets in 2011 as part of a larger $2.8bn order for 120 Global-family aircraft. A year later, an even larger block-order from private aircraft charter company VistaJet worth $7.8bn included 25 Global 6000s. And last year, Bombardier delivered 80 of its Global series of business jets to customers around the world.

With a maximum cruise speed of 934km/h, and ability to fly high above the weather at 51,000 feet, the Global 6000 delivers its exceptional performance from a pair of Rolls-Royce BR710A2-20 engines.

Perhaps highest on the list of attractions to this jet, however, is the luxurious and stately cabin, which offers over 2,000 cubic feet of space. That allows plenty of possibility for customization, and typically the Global 6000 is equipped to accommodate between eight and 19 passengers, and two to four crew members.

Yet generous cabin area alone doesn’t make this aircraft comfortable. It’s also fitted with a cabin management system that enables passengers to have total control

of their environment on those ocean-crossing, 12-hour journeys.

Typical Cabin Layout As you board the jet, to the left of the entrance is a forward-located lavatory and a cockpit that incorporates some of the most sophisticated avionics equipment available. Bombardier’s Vision flight deck is built to offer “a completely new cockpit experience”, and features LCD screens, third-generation enhanced vision system, head-up display system and synthetic vision system (and more) to optimize the safe operation of the aircraft.

To the right of the entrance, you find a large, handcrafted galley and a dedicated crew rest area, beyond which you enter a stately main cabin area, bedecked with hand-crafted cabinetry and custom upholstering, wood veneers and high-quality leathers.

The forward passenger cabin zone can comfortably seat eight in club-seating formation.

Beyond this passenger area, a stateroom area offers its own amenities. When not in use as private sleeping quarters, the stateroom incorporates two facing seats around a table, and a side-facing three-seat divan which makes for an ideal environment for in-flight meetings, guaranteeing maximum productivity en route.

A door from the back of the state-room leads to an aft rest room that could include an optional shower to ensure a fresh arrival following a long globe-trotting flight.

Jetcraft, a leading aircraft broker, has four Bombardier Global 6000 jets for sale on AvBuyer currently plus a new 2015 Global which will be completed later this year.

For a limited time, the 2015 Global is available for the buyer’s specification.

Find Bombardier Global 6000 jets for sale on www.AvBuyer.com

Images: courtesy of Bombardier and Jetcraft

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Shaking up the car industry

The fuTure is elecTric Tesla Motors are on a mission to change the world; they are successfully accelerating the global transition to more sustainable, electric-powered transportation. With their pioneering technology, forward-thinking design and innovative manufacturing processes, Tesla are currently producing what can only be described as a highly efficient, clean and luxurious range of saloons; there is no Model S that will disappoint.

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odel S P85D is their fastest and undeniably most exciting saloon, with its advanced 85 kilowatt-hour battery and dual motor system. Users can even marvel at the vehicle’s ‘Insane Mode’, which enables a staggering 690 hp motor power and potential to complete a run from 0-60 mph in just 3.2 seconds.

Even with this incredible speed, the P85D remains one of the most efficient cars on the road. The vehicle’s powertrain delivers both unprecedented range and a thrilling drive experience. With a rigid body structure, nearly 50/50 weight distribution and a remarkably low centre of gravity, Model S offers the responsiveness and agility expected from the world’s best sports cars, while providing the ride quality of a saloon.

Tesla definitely values the personal needs and specifications of their clients and they do their utmost to ensure satisfaction.

The cars are designed around the driver, to ensure luxury and comfort. One can purchase a premium interior design package, which ensures sophistication and executive ambience. The highresolution Model S 17” touchscreen, digital instrument cluster and steering wheel controls seamlessly integrate media, navigation, communications, cabin controls and vehicle data: all of which can be controlled and tailored to driver’s desires.

Customers can also listen to any song with a choice of HD, online, on-demand Internet radio and Bluetooth or USB audio 34

devices. The sound experience also matches that of a recording studio because of the meticulous noise engineering combined with Tesla’s uniquely quiet powertrain. Furthermore, there is also a choice of LED accent lighting, extended Nappa leather throughout the cabin and private, comfortable rear-facing seats in the boot, which can alternatively be folded down to enable added storage space.

The sophistication of the hardware also ensures utmost safety and possible autopilot functionality. There is a radar, 360-degree long-range, ultrasonic sensors, a forward looking camera and high precision, digitally controlled electric assist braking system.

This hardware is just the first step for Autopilot in Model S, and new capabilities will continue to be developed through the overthe-air software.

The weight-saving aluminium body structure of the Model S also ensures utmost safety due its higher torsional rigidity and lower centre of gravity. The design ensures maximum contact between the road and the tyres, along with Traction and Stability Control.

Passengers are not only protected, but are also aided in the overall control when behind the wheel, proven by the 5-star Euro NCAP safety rating.

Tesla offers everything and more. They deliver a luxury, high quality service to their customers, not just when they purchase cars, but also as their technology and processes constantly evolve. www.heditionmagazine.com

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Users can even marvel at the vehicle’s ‘Insane Mode’, which enables a staggering 690 hp motor power and potential to complete a run from 0-60 mph in just 3.2 seconds

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To find out more about Model S, visit www.teslamotors.com/en_GB/ www.heditionmagazine.com

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| LUXURY TRAVEL

Grand Hotel A Villa Feltrinelli T H E TA L E O F A DY NA S T Y In 1892, the sons of “lumber magnate,” Faustino Feltrinelli, built what we know today as Villa Feltrinelli in Gargnano, on Lake Garda

T

he Villa was built as one of the “summer seats” of a lumber empire that stretched from the woods of Northern Italy, Austria, Hungary and Turkey to the stock market and banking centres of Milan.

At the time the villa was being built, the two Feltrinelli brothers, Angelo and Giacomo, were busy developing new businesses and expanding the budding “empire” that their father Faustino had begun in 1846. They shared the use of the villa in the summer 36

months, while Angelo stayed in Gargnano most of the year, taking a keen interest in its development.

Angelo (1827 – 1900) led the lumber business from Gargnano (of which he was also the mayor for 15 years), while Giacomo (1829 – 1913) launched the family business into new ventures in Europe and beyond. For example, he negotiated lumber contracts for new railroads from Southern Italy to Turkey and, in 1890 even founded a private bank.

The intervention of the Feltrinelli family on public structures in Gargnano was conspicuous. In 1903, they built the Hospital and Retirement Home. In 1913, they built the road that connects the little mountain hamlets of Navazzo, Sasso and Liano to Gargnano and, in 1921, the Elementary school.

In 1913 the Villa passed on to Carlo Feltrinelli (1881 – 1935), their nephew, who expanded the immense inherited fortune. He was one of the founders and president of www.heditionmagazine.com

Edison and of the Italian Credit Institute. He was a greatly cultivated man, an esteemed pianist and a keen financier. He married Giovanna Gianzone, still remembered as a lady as rigid as a Prussian officer, always wearing a monocle on her right eye, lost during a hunting party. They had two children, Giangiacomo and Antonella.

As a reward for their contributions to the economic resurgence in Northern Italy, the King, Vittorio Emanuele II, granted the family the title of “Marchese di Gargnano” in the 1940s. The Gargnano branch of the family was also granted the title of “Conte di Gerola.”

In October 1943, the German government, in an attempt to re-establish a “pro-Hitler” government in Italy, following the surrender by the King, brought the exiled Mussolini and www.heditionmagazine.com

his ministers to Lake Garda. The government seat was in Salò, while Mussolini was given quarters in Villa Feltrinelli. General Rommel and Wolff firmly “suggested” that Mussolini establish his residence in Villa Feltrinelli, where he remained until April 1945.

This was probably the unhappiest time in Mussolini’s life as a political leader. He was, in spite of the appearance, a prisoner in Villa Feltrinelli. He was guarded by German officers, and forced into a humiliating isolation. The little town of Gargnano, that D. H. Lawrence during his stay in 1912, had described as “one of the most beautiful places on earth”, was not seen in the same way by Mussolini.

After Mussolini’s tragic end, the Villa reverted to the Feltrinelli family, namely to Giangiacomo and his sister Antonella.

Two sad and extraordinary destinies were to cross in the story of the villa: Mussolini’s failed attempt at re-instating his dictatorial powers and Giangiacomo Feltrinelli’s tragic death in a failed political act of terrorism.

As the leader of the Feltrinelli publishing house (one of Italy’s largest and most respected), Giangiacomo published the works of such writers as Boris Pasternak and Tomasi di Lampedusa, the author of “The Gattopardo”, bringing to the attention of the Italian intellectual world a literary current that had then been deliberately ignored. Later, having joined the Communist Party, Giangiacomo met Fidel Castro, and used the Villa as a “spring board” for the political propaganda of 1948, when he was candidate for the Italian political elections.

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In the Villa, in the 1960s, he organized an anniversary party of the Publishing House but, shortly after, he left the leadership of the entire business to his uncle Antonio (who was also the founder of many prestigious literary prizes). He eventually joined the terrorist political militancy that led him to his tragic death.

He probably kept in the Villa important documents concerning the terrorist activity of the extremist terrorist group he was 38

enrolled in, and used it during the autumn of 1970 as a hiding place, when he was wanted by the international police.

Giangiacomo died in the explosion of the bomb he was placing under an electricity pylon in Segrate, near Milan, March 14th 1972.

After this period, the Villa was increasingly left uninhabited, until Giangiacomo’s last wife Inge and their son, Carlo, decided

to sell it to the owner of a large building company in Brescia.

In 1997 the Villa was acquired and restored back to its former splendour, respecting its grand style and historical importance. The Villa opened as a hotel in July 2001, and the General Manager Markus Odermatt and team are happy to share with you this beautiful home with a fragrant garden situated on the lovely Lake Garda.

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Mr MArKuS ODErMATT, GENErAL MANAGEr OF GrAND HOTEL A ViLLA FELTriNELLi, TALKS TO Our EDiTOr, DiNA ALETrAS

How did your journey with Villa Feltrinelli begin?

We bought the Villa in 1997 and spent five years restoring it to its former splendour. We opened as a hotel in July 2001. We have since maintained its formal and grand style.

As one of the most exclusive hotels on the planet how do you maintain the Villa’s exclusivity and luxury?

Quality of service is essential and this comes from one of the most important assets of the Villa - our staff. We have a high ratio of three to one, and have had no staff turnover. This means we have maintained the same team members and over the years have learned our guests’ needs.

What is unique about your hotel’s location?

The Villa itself is unique as it is a historic building built in 1892. It is located in the small village of Gargnano, in a private eight-acre park and gardens.

Is privacy for high profile guests given priority?

Privacy is a priority for all our guests at the Villa. It is located in a secluded park and is not open to nonresidents.

Describe the personality of Villa Feltrinelli?

The Villa’s opulence befits the prosperous family for which it was built. Today it still captures the essence of a superbly smart family home with a warm, relaxed and friendly manner.

How has the hotel performed commercially over the years?

Commercially the Villa maintains itself - 50% of our guests are return guests. We have only 21 rooms, yet we achieve exceptionally high seasonal room occupancies – of about 80%.

Who are your customers and from which parts of the world do they visit?

We have an international clientele, but the majority of our guests are from the US and Europe.

Are there any plans to expand the concept of your brand into other destinations?

We are interested in finding a property similar to the Villa, but in a winter location.

The Villa and its grand park were built in 1892 by the prominent Feltrinelli family and served as a summer escape. What made the Villa the perfect escape from Milan?

It’s appeal is the same as In the 1800 & 1900’s when very wealthy Italian families living in Milan, built summer homes on the lakes to get away from the heat of the city.

Mussolini, Churchill, DH Lawrence and even Hitler have stayed there. Can you share any further great past times?

In the late forties and early fifties Giangiacomo Feltrinelli used the Villa to hold many parties and political meetings, which attracted many famous writers and activists of the time.

What do you believe was the reason behind Mussolini using Villa Feltrinelli as his war-time hideout?

We believe that Mussolini was a prisoner and was obliged by the Germans to remain at the Villa.

What is Villa Feltrinelli’s philosophy?

We provide a private home away from home. We want our guests to feel that they’ve been invited to stay in a luxurious family home not a hotel.

www.villafeltrinelli.com www.heditionmagazine.com

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| SAILING

Croatian Time Machine

C

roatia’s indented islands, wildly painted on the background of rapidly ascending coastal mountains, will enchant your heart. You are bound to fall in love with them as soon as the bow of your yacht slips into Croatian waters. You’ll enjoy the steady wind that blows up and down the mountains with surprising regularity, which, when combined with tiny waves and negligible tides, makes sailing the Adriatic Sea for most part a lazy, effortless endeavour. Add picturesque villages, quiet bays with turquoise water, the omnipresent chirping of cicadas, worldclass marinas, delicious cuisine and homemade wine and you are nearing paradise. Could it get any better?

When researching the Croatian coast and islands for our online sailing guide, I realized how much we’ve been missing on our past sailing trips. Under everywhere you sail and on every piece of land you set your foot, lie scattered the remnants of history. One day you might be sailing over a Neolithic town without noticing it.

Another, you might be climbing over a pile of rubble that is in fact a Byzantine fortress destroyed by the Ottoman Empire. Later you may be sailing past what looks like a crack in a cliff but is actually a sea-cave that used to be home to the Adriatic seals and before them to Stone Age people. The past may not be readily apparent but once know where to look, you will start feeling its presence everywhere.

Before The Romans Welcome to pre-ancient times! Look at the Dalmatian islands and coast all covered in forest and shrub with just a few villages and towns. Rivers are glittering like pearls in the midday sun and flowing through their natural canyons and deltas into a sea that is swarming with marine life. Merchant ships of the first Mediterranean civilizations are sailing its waters to trade with Celtic and Illyrian tribes, while the Greeks are setting up their first colonies. What I find really fascinating is the fact that at this time the Adriatic Sea is several metres lower than it is today; as the polar ice caps have melted, the sea has gradually risen and flooded anything that stood in its way. When sailing Croatia today, the rising seas give us a unique chance for a very authentic and unusual activity – underwater sightseeing.

That is the reason I wrote this mini-series; the aim is to help you experience Croatia not only for its beautiful stretch of coast in the Eastern Adriatic but also for what it always has been – one of the most turbulent parts of The Mediterranean. Let’s start our miniseries with a visit to the pre-Roman era … and don’t forget your goggles!

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Zambratij Zambratija cove came to attention of researchers during a breakwater extension in 2008 when divers kept finding interesting fragments of wood and pottery on the seabed. Subsequent research, led by the Archaeological Museum in Pula, found that the remains belonged to a late Neolithic/Early Copper Age settlement. The wooden pieces were confirmed to be oak pillars used as support for houses. Around them archaeologists found plenty of animal bones and pieces of pottery as well as a timber structure that is believed to be a wooden floor of a house. Carbon dating later set the site at between 4,230 and 3,980 BC. The settlement now lies 2.5 - 3.1 m below sea level and covers around 6,500 m2. The very same cove is also the location of the oldest Adriatic shipwreck dating back to 1,200 BC.

Atlantis Split In summer 2014, six metres deep and five miles from the coast between Port of Split and Brac Island, local divers discovered a regular stone structure resembling an ancient road. The stone blocks (most likely road paving) are precisely arranged which suggests a man-made structure rather than a natural phenomenon. The road is over mile long and up to three metres wide. This truly amazing discovery is now being examined by the Croatian Ministry of Culture and is set to become a magnet for divers and nautical tourists eager to see the ‘Atlantis Split’ (as the local newspapers started calling it). Could this really be a road to Atlantis? If you happen to sail past it, make sure you pay it a visit!

Dugi Otok Dugi Otok (which means ‘Long Island’ in Croatian) is one of the larger Croatian Islands. During the last sea-level minimum, some 20 thousand years ago, Dugi Otok was essentially a piece of high ground overlooking the Adriatic plains – a perfect location for hunters to set up their camp and watch Stone Age animals migrating over the plains. There are several caves on Dugi Otok that testify to their presence. If you are a more experienced scuba diver, visit the Y-cave near Brbi?icica Cove. Its entrance is 6 metres high and lies some 12 metres deep. Any local diving club will be happy to accompany you and advise on the many other caves in the area.

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Laurent Perrier

A NEVER ENDING PASSION The House of Laurent-Perrier was founded in 1812 by André Michel Pierlot and took the name Vve Laurent-Perrier when Mathilde Emilie Perrier, the widow of Eugène Laurent, combined the two family names after she decided to expand the business. Mr Walter Rohrbach, Former Director of Laurent-Perrier from 1992 till 2014, talks to H Edition about his affection for the world famous brand.

Was this your first experience of working for Laurent-Perrier Champagne?

No. Thirty years ago I worked at MartiniRossi establishing the Champagne Laurent-Perrier brand in the German part of Switzerland. At the time Laurent-Perrier was not very well known, so I had to promote the name – which is not so easy to pronounce for a Swiss-German.

Laurent-Perrier is one of the few Champagne Houses, which is still independent and family owned. What do you feel was the key to the brand’s success?

That’s right, Champagne Laurent-Perrier is practically the only big ChampagneHouse, which is still family owned. The key to its success is its high quality and of course its founder Bernard de Nonancourt, (who sadly died in October 2010). De Nonancourt was a big patron – maybe the last one of his kind. He not only created brand awareness, but he also passionately applied his ideas to ensure the same high quality year after year.

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His two daughters, Alexandra and Stephanie, who now successfully manage the Champagne-house, always consider his original vision.

Also, Champagne Laurent-Perrier currently has only its third cellar master. His extensive knowledge guarantees the high demands of Bernard de Nonancourt are applied to the single wines. Champagne Laurent-Perrier is one of the few houses which offers a big selection of wines and is also a leading Rosé and Ultra Brut brand.

Wine quality and image are the two most important things, what are the most crucial things the brand does to raise its profile?

Work, work, work … Laurent-Perrier works hard for its exceptional quality and high profile. Being available for its clients seven days a week, all year long. Being kind, fair and polite, loving work and consulting the right clients, always being present at market and networking opportunities.

Clients also have to know where the salesman is. All clients must know who to contact at Laurent-Perrier.

Where in Europe is Laurent-Perrier’s biggest market?

France, followed by England, Belgium and Switzerland. Italy is also very important.

In 2014, Rosé imports in Switzerland increased by 8.1% compared to 2013, what do you think increased the figure so dramatically year on year?

In my opinion, Laurent-Perrier contributed a greatly to this success. Bernard de Nonancourt created an important product here. A bottle of Laurent-Perrier Cuvée Rosé contains 100% Pinot Noir grapes with no red wine included. It entices with its fruitiness, freshness and aromas of red berry and black cherry. It’s number one in the Rosé market worldwide. I’m sure the success of Laurent-Perrier Cuvée Rosé contributed to the general image of Rosé wine. www.heditionmagazine.com

wealth, personality and even openmindedness each one could recommend a different product as “the best”.

Also things like a fantastic vacation, a trip, a particular taste preference, or loyalty to a wine-grower, a person, a country, a region, a place, or a house (cellar), can mean someone can declare a product is “the best”.

For example: years ago, Martini-Rossi, could not be bought in Switzerland. Every year after summer holidays in Italy, clients would request Martini-Rossi because of their holiday memories.

Laurent-Perrier is sponsoring the upcoming 6th Hublot Polo Cup in Ascona, why is it important for brands to get involved with such events?

Champagne Laurent-Perrier chose various sectors to sponsor. For example: golf, curling, tennis and horse sports. In Ticino the brand “Laurent-Perrier” is very well known, therefore it is important that we support the Hublot Polo Cup Ascona. The fact that we have participated for such a long time reflects our strategy of continuity in sponsoring and partnerships.

What advice would you give to a newly opened business trying to grow its sales?

Make sure your product is high quality. Be proactive not reactive. Work hard. Keep things simple. Minimise mistakes and, of course, treat your clients with fairness, kindness and politeness.

Last year’s figures showed Switzerland as 8th among export markets for champagne; do you think this position will change within the next five years?

That’s a difficult question to answer at the moment. Right now we don’t know how the economy is going to develop. Moreover there will be always be new sparkling wines introduced to the market.

However, we are lucky that the quality of our champagne means that, whilst it is often imitated, it is never recreated.

Because of this, I assume that the level of our champagne consumed in Switzerland will stay the same. To increase sales, Laurent-Perrier will have to transmit the price advantages, due to the strong Franc to consumers.

Define the wine and spirts world?

This is a very particular world – especially the Wine and Champagne world. A lot of “connoisseurs”, “specialists” and “pros” exist. Depending on their age, education, www.heditionmagazine.com

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| FINE WINES

Wine of the month Recommended by Giacomo Paolo Pellegrini, Sommelier at Ristorante Orologio, Lugano Switzerland VINO BIANCO:

Monteraponi Trebbiano Vd 2013 produced by Mr Michele Braganti Having recently sampled this wine I am blown away by its intensity and magnificence.

A white wine hailing from Tuscany. Tuscany is usually famed for its robust reds however I am a great believer that should one be able to produce a spectacular red wine than they should also be able to produce an equivalent white.

The colour is a beautiful mixture of golds and yellows and crystal clear. Intense, persistence and incredibly elegant. The burst of flavours that come through are camomile, apple, apricot, pear, honey, spices and then a whoosh of lemon and tangerine.

A dry fresh wine. Combine with a hearty dish of prawns, carpaccio and some seasonal fruit.

Production 1000 bottles, €30 per bottle

V I N O R O SSO :

Barolo Monprivato Riserva Ca d’Morissio 2008 Giuseppe Mascarello Another favourite I will be adding to my collection. An iconic wine with a complex aroma of floral rose and violet with fruity bursts of cherry and plum with a hint of black pepper, liquorice and earthy tones. A strong intense freshness full of tannins. This Barolo is magnificent and a must for wine lovers. A young wine with a great future ahead of it, within 10-15 years it will be at its best. I would recommend serving this wine at 18 degrees.

The perfect accompaniment to cheese such as Bagoss from the Lombardy region.

Production 3400 bottles, €350 per bottle

www.ristoranteorologio.ch/ www.heditionmagazine.com

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OYS TER PERPE TUAL SK Y-DW EL LER

bucherer.com

TICINO www.heditionmagazine.com

M E N S I L E

A F FA R I | N O T I Z I E | C U LT U R A | L U S S O | S T I L E D I V I TA

| AFFARI

La tempestività nella ristrutturazione aziendale Di Davide Cognolato, Restructuring Department, Anchorage Group

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timologicamente il verbo Fallire deriva dal latino fall re – “ingannare”. L’odierna definizione ne fa assumere invece il significato di “errore, mancanza, esito negativo, disastroso, grave insuccesso”. Ne deriva che, nell’immaginario comune, il fallimento rappresenta un evento estremamente traumatico per chi ne viene coinvolto.

Su questo presupposto imprenditori e manager, negli ultimi anni, hanno ricorso a procedure di composizione della crisi (d’impresa nell’odierno contesto) con il precipuo fine di evitare il fallimento ed, in particolare, gli effetti (disastrosi) che ne conseguono.

Per un imprenditore (o manager) fissare come primario obiettivo quello di evitare il fallimento si spiega, per lo più, con la volontà di evitare l’opinione negativa che viene riservata pubblicamente al fallito, nonché per evitare le conseguenze patrimoniali e personali che ne derivano; solo in parte, l’attenzione viene focalizzata sul salvataggio dei valori aziendali.

Affrontando decine di casi negli ultimi mesi, mi sono convinto che, partendo dai presupposti elencati, imprenditori (o manager) tendano procrastinare le azioni necessarie a risolvere lo stato di crisi piuttosto che affrontarlo consapevolmente. E ciò perché è frequente il convincimento (errato) che il tempo sia una naturale modalità di affrontare la crisi. Purtroppo in tal modo i protagonisti dell’impresa ottengono l’effetto esattamente contrario: aggravare la situazione ed aumentarne gli effetti da evitare.

Oggi la crisi– e c’è da augurarsi che oramai sia chiaro ai più– coinvolge imprese di tutte le dimensioni, di tutti i settori e con ogni modello amministrativo. Si tratta quindi, sin dalle prime avvisaglie, di prenderne razionalmente e rapidamente atto e di non tergiversare in attesa che il problema si auto risolva, poiché credere nell’autoregolazione della crisi è pura utopia.

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Più la fase di analisi, e il conseguente intervento, saranno tempestivi, migliore sarà l’efficacia delle azioni necessarie ad interrompere l’emorragia e a far ripartire una sana attività. Fermo restando che l’elemento più importante da raggiungere sarà la capacità dell’impresa di generare reddito e flussi di cassa in esito all’esecuzione della politica di risanamento poiché, solo in tale ipotesi, si potranno rinvenire i presupposti per riequilibrare l’indebitamento che, diversamente, non potrà far altro che aumentare, pregiudicando quindi le possibilità di successo.

Infatti, più tardivo sarà l’intervento, maggiore sarà il grado di complessità e lo stress che dovrà sopportare l’impresa per poter superare la propria fase di crisi. Appesantimento non limitato esclusivamente alla gestione di un maggior indebitamento, ma derivante anche dal progressivo deteriorarsi dei rapporti commerciali e finanziari, nonché dall’accrescere della sfiducia verso l’impresa da parte degli attori (fornitori – banche – risorse umane) che, sino al momento della crisi, l’avevano sostenuta. Un esempio palese di perdita di know how.

In tal senso, affidarsi a manager specializzati nel risanamento non presuppone necessariamente una sconfitta dell’imprenditore e dei propri valori bensì, al contrario, certifica la lungimiranza e la maturità a comprendere che non sempre le competenze interne sono sufficienti ad attraversare un cammino tortuoso e pieno di insidie.

Ogni team di ristrutturazione si pone quale mission quella di traghettare l’impresa al di fuori dello stato di crisi conservandone, a favore di tutti gli stakeholder, il valore aziendale.

Per questo, il mio suggerimento si rivolge ad imprenditori e manager. Essere consapevoli che si sta affrontando uno stato crisi è il primo passo. Evitare di imbarazzarsi nel programmare la soluzione è quello decisivo per rinascere.

www.heditionmagazine.com

Ticino 2015 quasi venti anni dopo Di Professore Carlo Pelanda

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el 1997 il Dipartimento delle finanze della Repubblica e Cantone del Ticino mi chiese di coordinare una ricerca che individuasse le linee guida per il futuro sviluppo competitivo dell’area.

Che poi fu pubblicata, il 23 marzo 1998, con il titolo “Ticino 2015” e con lo status di “libro bianco”, cioè di strumento offerto alla comunità per una progettazione condivisa. Siamo nel 2015 e sembra utile valutare oggi ciò che fu proposto circa 18 anni fa in relazione alla situazione corrente.

In sostanza, la ricerca fu scritta nel contesto di una forte crisi di competitività: negli Anni ’90 la Confederazione e, in particolare, il Cantone si trovavano svantaggiati nella nuova competizione globale di allora per eccesso di costi sistemici. La raccomandazione principale fu quella di far competere il territorio sul piano della qualità perché il sistema svizzero, diversamente da quello statunitense o inglese, non avrebbe retto sul piano sociale la competizione via riduzione dei costi ed estrema flessibilità delle regole del mercato.

I critici di quel tempo scrissero che il Libro bianco aveva un indirizzo verso il modello liberista statunitense, probabilmente perché il coordinatore aveva fatto la sua carriera accademica (anche) da quelle parti. In realtà l’enfasi era sulla competitività, cioè sui modi realistici per attrarre capitali e guadagnarli dall’attività industriale e dei servizi in un mondo sempre più concorrenziale, cosa che implicava togliere i lacci agli attori del mercato senza necessariamente chiedere alla politica di fare un passo indietro nella sua missione di tutela sociale. Infatti le linee guida suggerite invocavano una forte collaborazione tra istituzioni e iniziative di mercato: maggiore connettività con il mondo, qualificazione del territorio come centro di eccellenza globale nel settore dei servizi finanziari, commerciali e di alta educazione nonché di supporto evoluto alla competitività internazionale delle imprese residenti.

Ricordo che un amico banchiere di Zurigo ed un parlamentare dell’area tedesca, in occasione di una colazione, mi presero bonariamente in giro: “non far sognare i ticinesi, tanto quelli vivono sul nero portato dagli italiani”. Mi irritai, e lo feci notare, perché girando il Cantone allo scopo di capirne i potenziali, e con l’esperienza di una vita passata nel mondo, avevo rilevato tantissimi punti di forza che rendevano fattibile una competitività ambiziosa del Ticino sul piano globale.

Ma annotai con preoccupazione che gli eventuali sforzi dei ticinesi non avrebbero trovato supporto sufficiente nella Confederazione. Infatti più volte ripetei agli amici del Ticino quello che mi ero sentito dire da tanti friulani quando, nel 1977, aiutai la Regione Friuli – Venezia Giulia a formulare il piano di ri-sviluppo dell’area devastata dal terremoto del 1976: “fasim di besol” (faccio da solo). E lo dissi perché il fattore competitivo più forte che rilevai in Ticino fu l’attivismo autonomo, un marchio antropologico che accomuna le aree prealpine sia del Friuli sia del Ticino stesso. Infatti ai politici locali del tempo, un po’preoccupati dell’ambizione delle proposte di sviluppo, dissi: credete ed investite nella qualità e nell’attivismo dei ticinesi.

Oggi il mondo è diverso, ma la Svizzera, ed in essa il Ticino più intensamente, rischia una nuova crisi competitiva a causa di una distorsione valutaria che non sarà breve e ha dovuto rinunciare al segreto bancario per i capitali di stranieri non residenti. Ripeterei le stesse raccomandazioni di sviluppo, pur adeguate ai tempi, fatte nel passato? Certamente e sarei felice di poterle argomentare in un eventuale convegno della splendida comunità ticinese.

Il Prof. Carlo Pelanda è Coordinatore del Dottorato di ricerca in Geopolitica e Geopolitica economica presso l’Università Guglielmo Marconi, Roma, e membro dell’ Academic and Policy Board dell’ Institute for Economic Policy (OXONIA), Oxford.

www.carlopelanda.com www.heditionmagazine.com

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Scuola universitaria professionale della Svizzera italiana Dipartimento economia aziendale, sanità e sociale Centro competenze tributarie

Tax Law Master of Advanced Studies

Destinatari

Responsabile

Fiduciari, commercialisti, avvocati, consulenti fiscali,

Samuele Vorpe, responsabile Centro competenze

consulenti bancari e assicurativi, dirigenti aziendali,

tributarie, docente-ricercatore SUPSI

collaboratori attivi nel settore fiscale di aziende pubbliche e private.

Lingua Italiano

Percorso formativo articolato su tre corsi annuali: ◆ CAS Fondamenti di diritto tributario, 15 ECTS

Iscrizioni

◆ CAS Approfondimenti di diritto tributario, 15 ECTS

Entro il 28 agosto 2015

◆ Lavoro di Tesi, 15 ECTS

Inizio

◆ CAS Diritto tributario internazionale, 15 ECTS

Contatti SUPSI, MAS Tax Law diritto.tributario@supsi.ch www.supsi.ch/tax-law

Settembre 2015

Advanced Studies+

La formazione continua universitaria

| AFFARI

IRE, Ticino e la competitività fiscale La competitività fiscale del Canton Ticino con l’arrivo della Riforma III sull’imposizione delle imprese e di Alptransit Di Samuele Vorpe, responsabile Centro competenze tributarie, docente-ricercatore SUPSI

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allo studio dell’Istituto di Ricerche Economiche (IRE) “Ticino Futuro, riflessioni per un itinerario economico ticinese”, emerge che “Tra i punti di interesse delle imprese operanti su un territorio vi sono la fiscalità e la burocrazia (aspetti importanti anche per la funzione abitativa di una regione). Per entrambi questi aspetti il Ticino si rivela competitivo rispetto ai territori di oltre confine, ma non rispetto alla media elvetica. Il livello fiscale ticinese si situa ad un livello medio all’interno dello scenario elvetico: è in grado di attrarre imprese da oltre-confine, ma non da altri Cantoni”.

Tutto vero! La fiscalità del Canton Ticino è attrattiva se confrontata alla vicina Italia, ma non lo è con il resto della Svizzera. Ora, tra pochi anni, entreranno in vigore le modifiche della Riforma III sull’imposizione delle imprese, che prevedono l’abolizione dei regimi fiscali speciali cantonali e l’introduzione di un box dei brevetti a tassazione privilegiata e la deducibilità degli interessi figurativi sul capitale proprio. Per il Ticino si stima che circa il 15% del gettito fiscale proviene da società a tassazione speciale. Vi è dunque interesse a mantenere queste società, che operano nel settore manifatturiero, nel trading, nella moda e nella farmaceutica. Queste società, conti alla mano, oggi pagano circa il 12-13% di imposte (federale, cantonali e comunali), per effetto dello sgravio sui proventi di fonte estera. Questo privilegio è però destinato a sparire con la Riforma III, poiché costituisce, secondo la Comunità internazionale un aiuto di Stato selettivo che causa una concorrenza fiscale pregiudizievole. Se il Cantone Ticino non dovesse

intervenire con misure di politica fiscale, soprattutto sulle aliquote, queste società pagheranno le imposte ordinarie sull’utile nella misura del 19-22%, a dipendenza del Comune di sede.

La media degli altri Cantoni si attesta tra il 18-19%, mentre vi sono Cantoni, come Lucerna, il cui prelievo fiscale ordinario sulle aziende è già pari al 12-13%; altri Cantoni (Ginevra e Vaud), hanno annunciato ufficialmente di voler scendere a livello di Lucerna, per non perdere contribuenti. Con l’arrivo di Alptransit, non è solo il Ticino ad avvicinarsi al resto della Svizzera, ma lo è anche la regione Lombardia. Si correrà dunque il rischio concreto che il Ticino possa essere meno attrattivo anche per la vicina Italia, interessata oltre al Canton Grigioni di lingua italiana, ai Cantoni della Svizzera centrale. Immagino che le società a tassazione speciale presenti in Ticino non saranno disposte a pagare tra il 19-22% di imposte, ma al massimo il 15%, pena lo spostamento della sede in altri Cantoni, che offrono le stesse condizioni quadro. Oltre a perdere queste società c’è il rischio che non ne arrivino di nuove.

Per questa ragione è importante già oggi chinarsi sulle conseguenze della Riforma III dell’imposizione delle imprese. Le misure di licence-box e di deducibilità degli interessi figurativi da sole non basteranno al Ticino per restare competitivo, ma serve un intervento sulle aliquote. Il Ticino non può però restare fermo a guardare perché il rischio di perdere contribuenti si sta avvicinando sempre più.

www.supsi.ch

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| INTERVISTA

LUCA ARGENTERO Un gentleman d’altri tempi Tra cinema, moda e solidarietà il noto attore ci svela passioni e progetti

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ato a Torino il 12 aprile 1978, ha vissuto a Moncalieri. Dopo gli studi superiori, compiuti al “Collegio san Giuseppe”, lavora come barman in una discoteca, proseguendo gli studi e laureandosi, nel 2004, in Economia e Commercio.

Raggiunge la notorietà nel 2003 partecipando alla terza edizione del Grande Fratello, reality show in onda su Canale 5, classificandosi al terzo posto. Dopo questa esperienza, colleziona una serie di ospitate televisive, posa per un calendario del mensile Max e lavora come modello.

Nel 2005 debutta come attore nella serie televisiva Carabinieri, in cui interpreta, dalla quarta alla sesta stagione, il ruolo di Marco Tosi. Nel 2006 è protagonista del cortometraggio Il quarto sesso. Nello stesso anno debutta sul grande schermo con il film A casa nostra, regia di Francesca Comencini. Nel 2007 ritorna nelle sale cinematografiche con Saturno contro, diretto da Ferzan Özpetek, dove ricopre il ruolo di un omosessuale, e Lezioni di cioccolato, regia di Claudio Cupellini, con Violante Placido. Inoltre appare su Rai Uno con la miniserie televisiva La baronessa di Carini, regia di Umberto Marino, in cui è protagonista insieme a Vittoria Puccini.

Nel 2008 è protagonista del film Solo un padre, regia di Luca Lucini, con Diane Fleri, Fabio Troiano e Claudia Pandolfi, le cui riprese sono iniziate il 21 gennaio a Torino. Nel 2009 ritorna nelle sale con il film Diverso da chi?, per la regia di Umberto Carteni, in cui torna ad interpretare il ruolo di un omosessuale, Piero, conteso in un triangolo amoroso composto dal suo compagno Remo, interpretato da Filippo Nigro, e da Adele che ha il volto di Claudia Gerini, interpretazione che gli vale la sua prima candidatura al David di Donatello come miglior attore protagonista.

Nello stesso anno escono Il grande sogno, film che parla del ‘68, diretto da Michele Placido, dove veste i panni di un leader del movimento studentesco, e Oggi sposi, commedia scritta da Fausto Brizzi, Marco Martani e

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Fabio Bonifacci e diretta da Luca Lucini in cui interpreta il ruolo di un poliziotto pugliese prossimo alle nozze con la figlia di un ambasciatore indiano (Moran Atias).

Altri suoi tre film escono nel 2010: La donna della mia vita, anch’esso diretto da Luca Lucini, C’è chi dice no, regia di Giambattista Avellino, in cui recita al fianco della moglie Myriam Catania, e Mangia prega ama, regia di Ryan Murphy, con Julia Roberts.

Sempre nel 2010 debutta in teatro con lo spettacolo Shakespeare in Love, regia di Nicola Scorza.

Inoltre gli viene affidato il ruolo di Tiberio Mitri nella miniserie televisiva Il campione e la miss, diretta da Angelo Longoni.

Nel 2011 presta la sua voce a Fred DeLepris nel film Hop di Tim Hill e nello stesso anno viene scelto per condurre Le iene. Insieme ad Enrico Brignano, sostituisce gli storici conduttori Luca e Paolo al fianco di Ilary Blasi, che invece viene riconfermata.

Nel 2012 prende parte alle riprese dell’adattamento cinematografico dell’omonimo libro di Alessandro D’Avenia, Bianca come il latte, rossa come il sangue, in cui interpreta la parte del “Sognatore”, il professore punto di riferimento del protagonista.

Nel 2013 e nel 2014 partecipa, insieme a Gabry Ponte e Sabrina Ferilli, all’edizione serale di Amici di Maria De Filippi come giurato.

Nel 2014 è protagonista insieme a Paola Cortellesi e Rocco Papaleo del film campione di incassi “Un boss in salotto”.

Il 12 e 13 gennaio 2015 è protagonista della miniserie Ragion di Stato su Rai 1. L’11 febbraio interviene alla seconda serata del Festival di Sanremo insieme a Claudio Amendola per promuovere il loro nuovo film Noi e la Giulia per la regia di Edoardo Leo. Inoltre da poco hanno finito di girare un nuovo film di max croci “poli opposti” in uscita nelle sale in autunno 2015.

www.heditionmagazine.com

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| INTERVISTA

Abbiamo incontrato Luca Argentero, noto attore e personaggio televisivo italiano, al Royal Park I Roveri, l’esclusivo Club Golf Club di Torino, in occasione del Grand Season Opening, l’evento di inaugurazione della stagione golfistica che ha unito sul green sport e solidarietà. Durante la serata, infatti, Luca Argentero, ospite d’eccezione, ha battuto un’asta di beneficienza il cui ricavato è stato interamente devoluto alla sua Onlus 1Caffè. A fine serata ne abbiamo approfittato per fargli qualche domanda e svelare il suo profilo non solo di attore e uomo di spettacolo, ma anche di imprenditore.

Luca, come mai la troviamo in questa location? Come nasce l’incontro con Royal Park I Roveri?

“Il Royal Park I Roveri ci ha offerto questa importante opportunità di raccogliere fondi e di incrementare così le nostre donazioni. Durante la serata ho battuto all’asta alcune eccellenze enogastronomiche del territorio piemontese (e la nostra Onlus in un certo senso è una piccola eccellenza torinese). L’asta è andata molto bene e il ricavato, oltre 5.000 euro, ci è servito a sostenere la nostra mission di Onlus: continuare cioè a finanziare i progetti delle moltissime associazioni no profit che operano da noi in Italia”.

Come è nata l’idea di 1 CAFFE ONLUS? “Nasce nel 2012 dal sogno comune di cinque amici torinesi e prende spunto da una bellissima tradizione napoletana: quella del “caffè sospeso”, ovvero la possibilità e volontà di lasciare un caffè pagato per chi non se lo può permettere. E’ la prima onlus digitale, nata per sostenere le piccole associazioni no-profit italiane e si configura come uno strumento innovativo e trasparente di beneficenza e informazione. Possiamo dire di essere “una Onlus per le onlus” e siamo felici di esserci già aggiudicati numerosi premi (ndr: Onlus1 Caffè è stata finalista nel Wired innovation award 2014) e di aver ottenuto molta visibilità soprattutto sul web”.

Attualmente collabora anche con una rubrica sul mensile BestMovie.it, che le permette di scrivere della sua più grande passione: il cinema. Come è cambiato il suo rapporto con il cinema da spettatore a protagonista? Ha un aneddoto che racconterebbe tra trent’anni ai suoi nipotini?

“Da una parte è cambiato tutto, non riesco più a vedere un film senza pensare al lavoro che c’è dietro, senza distrarmi per qualcosa che attira la mia attenzione tecnicamente...

Dall’altra, abbastanza raramente, riesco ancora a vivere l’emozione dell’essere rapito da una storia, riesco ancora a nascondermi nel buio della sala e a vivere la mia avventura sul grande schermo. Rivedermi invece è sempre difficile, troppi pensieri...

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Ai miei nipotini racconterò solo che il nonno si è divertito un sacco a fare quello che faceva da ragazzo...”

Oltre al cinema e alla solidarietà, sappiamo che ha numerosi progetti in corso, anche come imprenditore.

Ci può raccontare qualcosa?

“La mia prima avventura imprenditoriale risale al 2012 con la fondazione di una casa di produzione per Cinema e Tv, l’INSIDE PRODUCTION, realizzata anche grazie al supporto di amici e parenti, che come sempre hanno creduto in me. Il nostro debutto è avvenuto con il lungometraggio “Cose Cattive”, nel 2013. Successivamente, con la collaborazione di film commission Valle d’Aosta, abbiamo prodotto la serie “Pericolo Verticale”, trasmessa su Sky, interamente dedicata al tema dei salvataggi estremi in alta montagna. Abbiamo ripreso l’azione di guide alpine, medici, verricellisti e piloti di elicotteri addestrati a intervenire in situazioni limite. Situazioni in cui anche una piccola distrazione può essere fatale. Ho amato particolarmente questa serie perché, essendo mio padre un appassionato di montagna, fin da piccolo vivo la Valle d’Aosta come un luogo di libertà e di vicinanza alla natura. Mio zio, inoltre, è guida alpina e sono cresciuto con i racconti delle sue avventure.

Un altro progetto di produzione che mi ha appassionato subito per la sua valenza sociale e artistica è stato “Space Metropoliz”, un documentario nato con l’intento di utilizzare il cinema come strumento di aggregazione, di progettazione e di trasformazione del territorio, e per contribuire alla rigenerazione socio-ambientale del Metropoliz, un’ex fabbrica abbandonata e oggi occupata da 200 persone senza casa”.

Sappiamo che ha lavorato anche come modello. Che rapporto ha oggi con la moda?

“Assieme a mia moglie Myriam Catania e a mia sorella Giulia, grandi appassionate di moda, ho creato una linea di abbigliamento, MIA D’ARCO, che considero una piacevole esperienza di imprenditoria familiare”.

Ha altri progetti in corso?

“Sono socio e direttore artistico della sezione “web series” di Megatube, un portale che, per la prima volta in Italia, mette a disposizione un palinsesto variegato e completo capace di soddisfare i palati più esigenti, dai cultori dei film degli anni 70’ agli appassionati di webserie e anime ai fan dei migliori youtuber emergenti che siamo riusciti ad aggregare sul territorio.

Ho poi altri progetti di produzione internazionale che però non posso ancora svelarvi. Saranno una sorpresa…”

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ROYAL PARK I ROVERI

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a posizione suggestiva lo rende unico in Europa: circondato dalle Alpi Olimpiche e immerso nel Parco Regionale della Mandria, Royal Park I Roveri sorge a pochi passi dalla Reggia di Venaria Reale: la più grande delle residenze sabaude è a soli 15 km dal centro di Torino e a circa 10 km dall’aeroporto di Caselle.

Royal Park I Roveri vanta una posizione invidiabile sia dal punto di vista logistico che paesaggistico, immerso armonicamente in una foresta secolare, l’antica riserva di caccia reale da cui eredita il nome.

Il respiro profondo e calmo della natura ben si fonda con l’atmosfera di charme del Circolo, un mix tra lo chic metropolitano e la rispettosa, silenziosa, riservata tradizione sabauda.

L’attenzione ai dettagli, i servizi personalizzati per i soci e gli ospiti, l’ampia disponibilità di strutture per il relax e per il wellness fanno del Royal Park I Roveri un luogo di straordinaria eccellenza, non solo per la pratica del golf.

Il Club ha due percorsi da 18 buche progettati da nomi illustri: il Trent Jones Senior Course, disegnato dall’omonimo architetto nel 1971, e il Pramerica Course, primo campo in Europa ideato da Michael Hurdzan e Dana Fry per un club privato.

Considerato Miglior Campo d’Italia dalla rivista Il Mondo del Golf, è presente nella Guida Rolex, ed è stato il primo campo italiano a conseguire il riconoscimento di Leading Golf Courses of Italy.

www.royalparkgolf.it www.heditionmagazine.com

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| INTERVISTA

Frank Oerthle

Executive Chef di Ristorante Galleria Arté al Lago

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l Ristorante Galleria “Arté al Lago” è insignito di una stella Michelin e 16 punti Gault Millau, ed è l’unico ristorante stellato Michelin a Lugano. Frank Oerthle è stato assegnato “cuoco emergente del 2009” dalla guida GaultMillau.

Affacciato sulle acque del lago, a 100 metri dal Grand Hotel Villa Castagnola au Lac, il Ristorante Galleria Arté al Lago regala una veduta mozzafiato di Lugano e un originale avvicendarsi di opere d’arte di scultori internazionali.

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Lo Chef Frank Oerthle, nominato Cuoco emergente 2009 per il Ticino, traduce la sua passione in una selezione innovativa e allettante di piatti e accostamenti, firmando soprattutto menu a base di pesce di mare e di lago.

I sontuosi locali ospitano opere d’arte e sculture di diversi artisti, con mostre che si alternano due volte l’anno.

www.heditionmagazine.com

Qual è stato il suo percorso per diventare Chef?

Tanti anni di sacrificio in diverse cucine, stellate e non, per poi approdare come Sous Chef al ‘Giardino’ di Ascona, e poi e’ iniziata la mia esperienza presso il Grand Hotel Villa Castagnola di Lugano.

Come descriverebbe il panorama dei ristoranti nel Canton Ticino?

Dal 1985.

Ristoranti con cucina tradizionale ce ne sono tanti, negli ultimi anni nel sottoceneri mancano Ristoranti stellati, mi piacerebbe piu’ concorrenza. Molto spesso, se un nostro ospite, mi chiede dove poter mangiare oltre al Ristorante Galleria Arté mi trovo costretto a dire ‘non lo so’.

In che modo descriverebbe il suo “stile” in cucina?

Dove le piace mangiare quando non è lei in cucina?

La mia cucina e’ mediterranea con un tocco di cucina asiatica, e molte influenze moderne.

Amo la cucina tradizionale, mi piace molto la pasta, una pietanza che si può condire in mille modi diversi. Questo piatto mi somiglia: è semplice e gli servono poche cose.

Da quanti anni è che cucina ormai a livello professionale?

Qual è il suo piatto forte?

Cambiamo spesso la carta del menu, quindi non c’è un piatto che si possa trovare in tutte le stagioni. In questo momento dell’anno, però, è particolarmente apprezzato il Cuore di filetto di bisonte con morbido alle spugnole e aglio orsino, involtino di patate dolci e carote nere glassate

Quali sono i progetti futuri per il ristorante?

Per ora mi godo l’oggi e vivo il momento. Cerco anche di guardare ai prossimi obiettivi futuri e mi vedo, tra dieci anni, ancora al Ristorante Artè. Qui sono felice, ho sposato la filosofia di Villa Castagnola e sono in ottima sintonia col Signor Zorloni. La felicità, anno dopo anno, è vedere confermata la preziosa stella Michelin e, sopra ogni cosa, i sorrisi dei miei clienti. Partecipare ad Eventi, come San Pellegrino, Sapori Ticino, che portano altri Chef stellati in ticino, un occasione importante per innovarsi.

Nel Canton Ticino, come in Italia, vale il detto “La vita è troppo breve per non bere e mangiare bene”. Quali sono le specialità che non si possono non assaggiare se si visita il Canton Ticino?

Indubbiamente concordo con il detto “La vita è troppo breve per non bere e mangiare bene”. In Ticino, bisogna assaggiare il Brasato accompagnato da un Merlot ticinese, e per finire gli amaretti farciti di ‘Kirsch’, tipici di Ascona.Non bisogna, inoltre lasciare il Ticino, se non si e’ assaggiato il Panettone e la Colomba.

Per rilassarsi nel tempo libero cosa le piace fare?

Nel poco tempo libero che mi concede il lavoro, amo andare in bici ed esplorare le Valli ticinesi. Paesaggi stupendi. Oggi le ispirazioni per i miei piatti arrivano mentre sono in bici in mezzo alla natura.

Mi piace molto leggere libri di cucina.

www.villacastagnola.com www.heditionmagazine.com

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| VIAGGI

Il ResoRt CollIna d’oRo

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l Resort Collina d’Oro sorge sull’omonima collina a pochi minuti dal centro di Lugano, in un luogo magico immerso nel verde e nella natura, con oltre 2’500 ore di esposizione solare all’anno ed un panorama incantevole che domina il Lago e le Alpi.

Un parco di 25 ettari fa da cornice a questo esclusivo Hotel con 30 suites e 16 camere doppie, un ampio Centro SPA & Fitness con piscina interna ed esterna, oltre ad un elegante ristorante che propone raffinati piatti

di ispirazione mediterranea, valorizzati dalle verdure di stagione coltivate nell’orto biologico che si trova nel parco del Resort.

Completano la struttura 43 appartamenti in vendita e in affitto ed un Residence con appartamenti arredati per permanenze superiori al mese: la soluzione perfetta per tutti coloro che desiderano soggiornare o trasferirsi a Lugano, sia per lavoro che per piacere.

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www.heditionmagazine.com

combination of historic villas beautifully tored for school use and modern purposeilt facilities. The 27 buildings on campus clude dormitories, classrooms, a library, ence labs, performing arts center, computer bs, art, photography and dance studios, music oms, a fitness center, gymnasium, health nter, dining hall and administrative offices. e school’s 270 boarding students are housed one of the nine dormitories according to their

responsibilities.

THE AMERICAN SCHOOL IN SWITZERLAND Activities The school takes advantage of its location in the heart of Europe to provide an outstanding educational program with an international dimension. The travel program includes 10 days of educational travel throughout Europe as well as a one-week ski term when the school relocates to Crans-Montana and Verbier.

and grade level. Faculty live on campus supervise the dormitories.

demics academic program includes English as additional language support, and allows ents to earn the American high school oma, providing access to the best colleges universities in the US and around the world. institution is dedicated to expanding the zons of the young people entrusted to its , encouraging cross-cultural respect and mmunication among them, surroundings m with beauty and courtesy, and ispiring ents to love learning and recognize moral onsibilities.

ASIS is accredited by the Council of ernational Schools and the New England ivities sociation of Schools and Colleges, and in school takes advantage of its location in dition to the academic year, TASIS offers a heart of Europe to provide an outstanding riety of summer programs on campuses in cational program with an international gland, Spain, France, and Switzerland. ension. The travel program includes 10 s of educational travel throughout Europe well as a one-week ski term when the school cates to Crans-Montana and Verbier.

TASIS ntact The American School further information, please visit www.tasis.com ontact: Director of Admissions in Switzerland SIS, 6926 Montagnola, Collina d’Oro 6926 Montagnola +41 91 960 5151 - Fax: +41 91 993 2979 Switzerland mail: admissions@tasis.ch Tel: +41 91 960 5151 admissions@tasis.ch

www.tasis.ch

TASIS Inspires!

THE AMERICAN SC IN SWITZERLAN

Contact For further information, please visit www.tasis.com or contact: Director of Admissions TASIS, 6926 Montagnola, Collina d’Oro Tel: +41 91 960 5151 - Fax: +41 91 993 2979 E-mail: admissions@tasis.ch

Founded in 1956

• International Baccalaureate Diploma • American High School Diploma • Advanced Placement Classes • Pre-K –12 & Post Graduate • Boarding Grades 7 – 12 • Excellent University Placement in the US, the UK, & Worldwide • A campus of natural and architectural beauty overlooking Lake Lugano

Handcrafted by Racers.

La nuova Mercedes-AMG GT. Quello che promette il design degli esterni, viene ampiamente mantenuto dagli interni.

Non appena si sale a bordo della nuova Mercedes-AMG GT, si avverte l’eccitante sensazione di guidare una vettura sportiva straordinaria. I materiali, i colori e le forme si fondono per dare vita a un tutt’uno emozionante, che affascina per la pura sportività e per la sensualità esclusiva.

LUGANO-PAZZALLO Via Pian Scairolo 31 6915 Pambio-Noranco T 091 986 45 45 www.merbagretail.ch/lugano

MENDRISIO Via Borromini 5 6850 Mendrisio T 091 640 60 30 www.merbagretail.ch/mendrisio