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Discover the best of bespoke private banking. Duncan Lawrie offers first-class service, a direct line to your own personal Relationship Manager and flexible borrowing opportunities. In a recent survey, 65% of our banking clients gave their Bank Manager 10/10, and our Relationship Managers scored 81% for client satisfaction – 20% higher than our peer group*. To find out more, contact us: Call us on 0845 680 8778 – Monday to Friday between 9am and 5pm. Outside these hours you can contact John Hilson on 07590 452440. Email jhilson@duncanlawrie.com Visit www.duncanlawrie.com/bank *Survey by Ledbury Research of 252 Duncan Lawrie clients. Duncan Lawrie Private Banking is a trading name of Duncan Lawrie Holdings Limited and its subsidiaries, represented in the UK by Duncan Lawrie Limited, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority and Duncan Lawrie Asset Management Limited, authorised and regulated by the Financial Conduct Authority. Their registered office is 1 Hobart Place, London SW1W 0HU. Registered in England under numbers 998511 and 1160766 respectively. DL0114SM
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CONTENTS ‘I am mulling over the pros and cons of running my own brand. I thought, “How hard can it be?”’ TAMARA SALMAN’S D I ARY ( PAGE 1 8 ) 64 SHOULD HEDGE FUNDS BE TRIMMED OR CHOPPED? 56 THE LABOUR PAINS OF SELLING YOUR FAMILY BUSINESS 50 WE DUB THEE A TRUE AND NOBLE KNIGHT THE COLUMNS 10 Leaders 14 From the Founder 16 Editor’s Letter 18 Diary Luxury goods designer Tamara Salman is heavily into leather 20 The Hedgehog 26 The Giver and the Gift We hear a philanthropic duet from Glyndebourne 28 Shot Before Dawn Photographs from the Young Turk Awards, the Mayo Clinic Claridge’s dinner and the Nyetimber tasting dinner 35 Counter Culture Sam Leith schools us in the new HNW class system. Where do you fit in? 37 PEP Talk Robert Amsterdam thinks our diplomats should be carrying handcuffs 38 The Discriminator From hipsters to hip replacements, Alessandro Tomé on age-gap couples 40 The Law The US government is very interested in your tax bill — and not to help you pay it 41 View from St Paul’s Central banks are going to continue to gush cash, says Guy Monson 42 Image Rights We could be heroes (unless we’re politicians) 45 FROM PINSTRIPE SUIT TO SPACESUIT THE ISSUES 45 Per Ardua Ad Astra Financier and adventurer Per Wimmer has his helmet on and his desiccated meals ready: he’s going into space 48 Tech for Granted We need to stop Britain’s tech entrepreneurs heading for California. Alex Matchett hopes for an appy ending 50 Active Duty Brett Scott doesn’t predict a riot — but he does advocate a revolution in how the wealthy give back. Bring on philanthroactivism! 52 Capital Outflow If private bankers knew how much wealth there is outside of London, they’d be on the first train to Liverpool Lime Street, says Chloë Barrow 56 Sell-O-Tape William Cash tries to see if his ancestral family business, Cash’s name tapes, can be rescued, or if it’s already lost 60 Up Against the Wall Why is London’s success killing its art galleries? Josh Spero puts us in the frame 64 Hedge Trimmers Whether you want them gently pruned or ripped out at the roots, hedge funds divide investors like nothing else. By Christopher Silvester

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Discover the best of bespoke private banking. Duncan Lawrie offers first-class service, a direct line to your own personal Relationship Manager and flexible borrowing opportunities.

In a recent survey, 65% of our banking clients gave their Bank Manager 10/10, and our Relationship Managers scored 81% for client satisfaction – 20% higher than our peer group*.

To find out more, contact us:

Call us on 0845 680 8778 – Monday to Friday between 9am and 5pm. Outside these hours you can contact John Hilson on 07590 452440.

Email jhilson@duncanlawrie.com

Visit www.duncanlawrie.com/bank

*Survey by Ledbury Research of 252 Duncan Lawrie clients.

Duncan Lawrie Private Banking is a trading name of Duncan Lawrie Holdings Limited and its subsidiaries, represented in the UK by Duncan Lawrie Limited, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority and Duncan Lawrie Asset Management Limited, authorised and regulated by the Financial Conduct Authority. Their registered office is 1 Hobart Place, London SW1W 0HU. Registered in England under numbers 998511 and 1160766 respectively.

DL0114SM

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