BREAKFAST BRIEFING: Offshore Centres To Stay, But Expect Fewer Of Them

Tom Burroughes

2 October 2013

The world of onshore wealth management is likely to become even more important as large countries flex their muscles against offshore jurisdictions, producing consolidation among some IFCs in the battle for market share, a Breakfast Briefing meeting in London heard recently.

While the debate about what “offshore” or “onshore” mean is not settled, panellists at the event, organised by ClearView Financial Media, publisher of this website, agreed that old-style offshore centres acting as secretive locations for illicit funds were doomed. (The event at the Carlton Club in London’s St James’s district was held in association with , the family-owned, independent fiduciary services group.)

The speakers at the event were Sean Coughlan, managing director of the Asiaciti Trust Singapore office; Seb Dovey, co-founder and managing partner of an incredibly sinister development.”

Ticehurst agreed with the idea that the number of offshore IFCs are likely to fall. One problem with the smaller IFCs is that they lack infrastructure, experienced lawyers and courts to work effectively, he added.