Invest with Your Head and Your Heart

www.business365iom.co.uk | JULY 2020 ISSUE

INVEST WITH YOUR HEAD AND YOUR HEART

How RL360 is championing responsible investing

For life’s financial journey www.rl360.com

RL360 is part of

COVID19 CASTLE MONA B365 FEATURE: HOUSEHOLD RESTORATION WELLNESS AT WORK INCOME SURVEY PLANS It’s a topic that many companies have started taking seriously. The reasons aren’t entirely A survey has been launched by Isle of Man Tevir Group has submitted plans for the first altruistic though, because – in purely financial Government Economic Affairs Division, phase of the restoration of the Castle Mona terms – looking after the health and wellbeing to help further understand the impacts of Hotel. The proposed works are detailed within of staff increases efficiency and improves staff the coronavirus (COVID-19) pandemic on three planning applications and three registered retention. people in the Isle of Man. building applications.

Inside your organisation Educate employees to recognise threats and use best practice security policies with effective online security training programs.

At your perimeter Protection from inbound phishing, malware and spam attacks whether in the office, at home or mobile.

CORONAVIRUS HOUSEHOLD IMPACT 5 SURVEY LAUNCHED A comprehensive round-up of the latest business news ProtectProtect youryour covering all sectors within the Isle of Man’s diverse and FIRST LOOK AT CASTLE MONA dynamic business environment. 6 RESTORATION PLANS PDMS ENHANCES MARITIME Expert comment from leading figures within the 10 EXPERIENCE businessbusiness business community, on a variety of topical issues across a range of sectors. FOOD SECURITY – LAXEY GLEN MILLS Secure offshore email, archiving 12 ON THE FRONT LINE Looking at the people who keep the wheels of TRANSFORMATION OF HEALTH AND commerce turning on the Island; features, profiles, 13 CARE MOVES FORWARD & security awareness achievements and stories with a human dimension. IMPACT OF COVID19 ON ECONOMIC training services 16 SUBSTANCE Who, what, where – a comprehensive appointments section keeping you abreast of all the movements within WELLNESS AT WORK – A SPECIAL the business community. B365 FEATURE Inside your organisation 17

Educate employees to recognise LifestyleHELPING YOU MAKE THE MOST OF WORK AND PLAY Lifestyle threats and use best practice Living a full and productive life is all about finding the right INVESTING THROUGH VOLATILE security policies with effective balance between work and play. Here at B365 we know 22 TIMES the importance of both. Our new lifestyle section will online security training include regular topics covering travel, motoring, property,

Living a full and productive life is all about ﬁ nding the right balance between work and play. Here at B365 we know the importance of both. Our new lifestyle section covers topics IGNORING INFLATION WOULD including travel, motoring, property, health, sport and leisure. health and leisure. programs. B365 – bringing a bit of balance into your life! BE FOOLISH IN THE EXTREME – 23 INVESTOR’S DIARY WITH PETER SHARKEY

Exactly what it says on the tin – news snippets, forthcoming events and information from the business world. ANOTHER FIRST FOR ONLINE BETTING 29 PIONEER

At your perimeter BUSINESS365 IS PRINTED & PUBLISHED BY MANNIN GROUP BRINGING YOU THE BUSINESS Protection from inbound This publication is printed on a Heidelberg SpeedMaster SX74 5 colour lithographic printing press on carbon balanced paper which is produced at one of the world’s Business365 evolved from Mannin Group’s highly successful, market leading publication, Money phishing, malware and spam most environmentally advanced paper mills ensuring it’s ultra clean and friendly to the Media. The new title embraces and builds on the ethos of its predecessor offering an all-embracing attacks whether in the office, environment. look at all sectors of the Isle of Man’s vibrant business community. Business365’s incisive editorial at home or mobile. reflects the Isle of Man’s standing as an international business centre of repute, and its modern, stylish presentation makes the magazine the first choice for industry leaders and professionals. In keeping with its position as the Isle of Man’s premier business publication Business365 enjoys an extensive distribution network. The magazine is delivered by post to all Isle of Man business addresses and is widely available in dispensers at the airport and the sea terminal in Douglas. tel: 01624 696565 | mail: [email protected] Should you require further copies of the magazine, please call (01624) 696565.

To whom all matters relating to editorial should be addressed. Articles may be submitted for publication at the publisher’s Contact Us discretion. All items contained in this publication are the copyright of the publishers and may not be reproduced without the permission of the publishers. The publishers take no responsibility as to the veracity of statements or claims made by business.sure.com advertisers or outside contributions. comments Business365 offers a view on a topic e ou s or issue of the day. You can also log onto our dedicated website and express your opinion...

Onwards and upwards... June will be remembered as the month we saw the Cloud of Covid 19 lifting from our lives, and when the Manx economy rose from its enforced slumber.

here will be positives and negatives through an impressive overall ‘team effort’ the have managed to adapt their working models to to be gleaned from the Coronavirus Island has defeated the first wave of coronavirus survive through a long and difficult phase. experience. We can’t forget the 24 earlier and more effectively than many of us had T There will be difficult times ahead. When the people who tragically lost their lives as a result of thought possible. government’s MERA scheme and others come the Pandemic, and the families whose lives have We have also witnessed a resurgence of to an end companies that have relied on them been turned upside down. There are others who community spirit and togetherness – important will suddenly have to find the money to pay have lost their livelihoods and face a difficult and qualities that must be retained and nurtured if employees, in some cases long before their challenging period to get back on their feet. we are to turn the economy around and put the businesses are fully functioning - post pandemic. From an economic perspective dealing with the Island back on track for future prosperity. It is possible, indeed likely, that some will not crisis has been horrendously expensive and survive and the Island’s jobless total could rise We have seen the Health Service at its best, and has blown a massive hole in the government’s even further. the huge wave of public support for all the front finances, at a time when the outlook was starting line staff and carers within the service, will give How government performs post pandemic is to look rosier than at any point in the past decade. NHS workers a much needed morale boost after as critical as how it dealt with the crisis. After a But there are positives from the Covid a number of difficult years. period of understandable self-congratulation experience that mustn’t be overlooked. The and elation the work must continue with the We have also seen companies across all sectors Government – and in particular the council same focus and determination. demonstrate flair and flexibility in the ways they of Ministers - has succeeded in getting the people of the Isle of Man back on board. Their handling of the crisis has, with a few exceptions, We have also witnessed a resurgence of community been strong, determined and focused. Howard Quayle and his team have forged their own path spirit and togetherness – important qualities that must based on the needs of the Isle of Man, and have be retained and nurtured if we are to turn the economy not blindly followed the bungling route taken by the UK. Their efforts have been supported and around and put the Island back on track embraced by the people of the Isle of Man, and for future prosperity.

ADVERTISING EDITORIAL

Sales: Sarah Ashall Editor: Simon Richardson T: 01624 696556 T: 01624 696590 Business365iom E: [email protected] E: [email protected]

The Business365 team is mainly working from home now because of the Coronavirus epidemic, but we will be keeping readers updated on news and information via our website at www.business365.co.uk A comprehensive round-up of the latest business news covering all sectors within the Isle of Man’s diverse and dynamic business environment.

CORONAVIRUS HOUSEHOLD IMPACT SURVEY LAUNCHED A survey has been launched by Isle of Man Government Economic Aff airs Division to help further understand the impacts of the coronavirus (COVID-19) pandemic on people in the Isle of Man.

he Coronavirus Household Impact Survey, however our Island will continue to be aff ected for which is being conducted by the Cabinet some time to come. Offi ce on behalf of Treasury and the T ‘This survey will help us to consider more medium Department for Enterprise, aims to collect data on term responses and how best to support households the ways in which coronavirus has infl uenced life at this time. We would encourage everyone to spare in the Isle of Man, including areas such as current 10 minutes to complete the short questionnaire, and and future spending, employment and household thank people in advance of their participation.’ fi nances. The confi dential results will be used by Isle Individuals are asked to complete the survey as of Man Government to contribute to the formulation soon as possible by visiting https://www.gov.im/ of schemes to support residents and businesses in about-the-government/departments/cabinet-oﬃ ce/ the future. economic-aﬀ airs-division/coronavirus-economic- Alfred Cannan MHK, Minister for Treasury, impact-surveys/ commented: ‘This is an extremely challenging time The Household Impact Survey is being run alongside for both people and organisations, with many of the Coronavirus Business Survey, which looks us feeling the social and economic eff ects of the understand the impact on individuals sectors and the pandemic. Several measures have already been economy as a whole, and both surveys can be found introduced as an immediate response to COVID-19, online at www.gov.im/ New portfolios for Rob Callister MHK The Chief Minister has confi rmed the appointment of Rob Callister MHK as the Island’s new Children’s Champion – a fi gurehead position designed to give vulnerable children a voice.

he role is focused on representing support vulnerable youngsters and help the interests of children in care, young ensure their views are heard. I thank Mr Baker Tcarers and children with complex for his commitment and eff orts in the role, needs, when decisions that will aff ect them which will continue to develop in new hands.’ are made. Mr Callister said: ‘I am honoured to accept this As Children’s Champion Mr Callister will liaise important role and look forward to hearing closely with elected members and senior about the diverse concerns, needs and government offi cers, keeping them informed aspirations of looked-after children, young about the rights and needs of vulnerable carers and children with complex needs. I will children. refl ect carefully on what they say and take He takes over from Tim Baker MHK, who opportunities to promote their views to wider was appointed Infrastructure Minister earlier government. This is an area close to my heart this month, following the departure of Chris and I am grateful for the opportunity to help Thomas from the Council of Ministers. provide a voice for vulnerable children.’ He joins the DEFA political team alongside Chief Minister Howard Quayle said: ’I’m Mr Callister has also been invited to take on Martyn Perkins MHK, with the third slot still to be delighted that Mr Callister has accepted the responsibility in a second government role, as fi lled. The shake-up follows the departure of Mr role and I know he will be an energetic and a member of the Department of Environment, Baker to DOI and the retirement from Tynwald enthusiastic Children’s Champion, keen to Food and Agriculture. of long-serving member David Cretney.

| 5 PLANS FOR FIRST PHASE OF CASTLE MONA RESTORATION SUBMITTED Tevir Group has submitted plans for the ﬁ rst phase of the restoration of the Castle Mona, Douglas. The proposed works are detailed within three planning applications and three registered building applications, which have been submitted today for consideration by the Planning and Building Control Directorate.

iaran Doherty, Managing Director, Tevir Group told B365: ‘We are keenly aware Cthat the Castle Mona is a key heritage asset for the Isle of Man and extremely mindful of the great interest that the Manx public have in the property. These proposals will necessitate signifi cant investment but will enable us to rectify core issues that have compromised the integrity of the building in recent years, such as signifi cant water ingress. “We are not yet in a position to announce plans for the future use of the building. However, we would point to our impressive track record over the past 18 months in delivering major refurbishment projects, and securing quality tenants, at other properties in our ownership, namely 55 Athol Street and Villiers House in Douglas.’ Full details of the Planning and Building Applications will be able to be viewed online once they have been uploaded to the Planning and Building Control section on the Isle of Man Government website. Tevir Group is working with local architects, Horncastle Thomas, on the Castle Mona project, We are not yet in a position to announce who are experienced in dealing with sensitive development projects involving registered plans for the future use of the building. buildings. Their work on the Market Hall in Douglas was shortlisted for a RIBA Award in consultation with the Registered Buildings This will better inform any future 2019. Offi cer. These repairs were attended to again in development phases as well as improving 2019 but it is clear that further work is required maintenance access until the longer term Remedial works on the property to date to stop water ingress and protect the building works are undertaken. have been done in conjunction and with the fabric and internal historic detailing. agreement of DEFA’s Registered Building 3. Removal of the later additions/ Officer. 2. Interior works to remove modern extensions to the building: the former interventions bowling alley and the north-east bedroom/dining wing and provision of a In brief the applications cover the In brief this is the removal of modern temporary protective rain screen following three main areas: interventions like the bathrooms, hotel fi ttings, 1. Replacement of roof coverings with slate former Reception area. The building has been The south west wing and north east and repair of the roof structure subject to many changes over the years, which extensions do not form part of the registered have compromised the integrity of the original part of the building, though they do fall This work will represent a major enhancement build. These include the proposed removal of: within a conservation area. It is proposed to to the building. Parts of the roof are composed remove the north-east bedroom and dining of a concrete roof tile so replacement with • modern ceilings; wing together with the former bowling alley, natural slate and careful repair of the structure • modern bathroom en-suites and fi nishes; which are later additions (1960s and 1990s) where required will enable a major cause of the • modern partitions and fi xtures; and are of limited architectural value. This ongoing water ingress to be rectifi ed. will improve access to the main core of • the rear single storey store/toilets The Castle Mona has had roofi ng works the building for the re-roofi ng and ongoing extensions; undertaken in the past. These included maintenance. The extensions are in poor replacing the roof fi nish with a concrete roof • the single storey fl at roof infi ll and associated condition and detract from the main core of tile and subsequent repairs to the fl ashings, offi ce/toilets to the inner courtyard. the building. generally in fi breglass. This will enable a better understanding of the The lower fl oor of the south west wing is part Following the acquisition of the building by building. Any remaining, but obscured, historic of the original building; the upper fl oor was Tevir Group in 2018 some necessary repair detailing will be revealed along with problem added when the building was converted into works were undertaken to the roof following issues, such as areas of water ingress. an hotel. This wing will remain intact.

6 | PLANS FOR FIRST PHASE OF CASTLE MONA RESTORATION SUBMITTED Tevir Group has submitted plans for the ﬁ rst phase of the restoration of the Castle Mona, Douglas. The proposed works are detailed within three planning applications and three registered building applications, which have been submitted today for consideration by the MAKING INVESTING Planning and Building Control Directorate. iaran Doherty, Managing Director, Tevir Group told B365: ‘We are keenly aware A FORCE FOR GOOD Cthat the Castle Mona is a key heritage asset for the Isle of Man and extremely mindful The current pandemic has no doubt brought about large scale changes to the way we live and work. of the great interest that the Manx public have At the heart of those changes has been the notion of responsibility – all of us, businesses included, have in the property. These proposals will necessitate signifi cant investment but will enable us to stopped to take a long, hard look at how we contribute not just to Isle of Man society but to the wider world. rectify core issues that have compromised the These Environmental, Social and Governance (ESG) concerns – used increasingly by socially-conscious investors integrity of the building in recent years, such as and shareholders to screen investments and assess a company’s impact on the world - have been forced into signifi cant water ingress. the mainstream via our responses to Covid-19. “We are not yet in a position to announce plans for the future use of the building. However, In particular, the social factors, such as how companies have treated the people around them, have been we would point to our impressive track record thrown into stark relief. over the past 18 months in delivering major refurbishment projects, and securing quality Putting the ‘S’ in ESG Environmental benefits tenants, at other properties in our ownership, RL360 has been ensuring it is meeting (and hopefully There has been fascination in seeing the dramatic namely 55 Athol Street and Villiers House in exceeding) its responsibilities to its staff and the decrease in pollution in urban areas as a result of the Douglas.’ communities in which it operates during the pandemic. pandemic lockdown measures and huge reductions in Full details of the Planning and Building But we’re also looking to a post-Covid 19 future in travelling. This has clearly created an opportunity to talk about the environment and sustainability in tangible terms Applications will be able to be viewed online which we can ensure we’re able to maintain this socially and that includes in investments. once they have been uploaded to the Planning responsible outlook. It’s clear there’s an appetite to look at sustainability as and Building Control section on the Isle of Man We’re providing easier access to more socially part of the global economic recovery and responsible Government website. responsible (or ESG) funds across our investment investment has a huge part to play in that. Tevir Group is working with local architects, platforms. It means our policyholders can consider ESG Horncastle Thomas, on the Castle Mona project, We are not yet in a position to announce criteria when selecting funds to include in their plan. Technology and COVID-19 who are experienced in dealing with sensitive plans for the future use of the building. The use of social criteria sees responsible investors The dramatic swing to remote working under lockdown development projects involving registered gain the power through active ownership to influence has pushed technology to the fore, whether video buildings. Their work on the Market Hall in company behaviours. This ensures that staff, suppliers conferencing or the use of digital signatures and the consultation with the Registered Buildings This will better inform any future Douglas was shortlisted for a RIBA Award in and consumers are treated in the correct manner. It can move towards a true paperless office. Offi cer. These repairs were attended to again in development phases as well as improving 2019. also mean providing a safe environment in which staff 2019 but it is clear that further work is required maintenance access until the longer term Companies who are willing to be more flexible in their can work, fair remuneration and providing flexibility to Remedial works on the property to date to stop water ingress and protect the building works are undertaken. approach to the use of technology than they were in their deal with childcare or unsocial working hours. pre-pandemic days are likely to garner positive attention have been done in conjunction and with the fabric and internal historic detailing. 3. Removal of the later additions/ agreement of DEFA’s Registered Building Access to healthcare is another major social factor among ESG conscious investors. 2. Interior works to remove modern extensions to the building: the former Officer. and has been at the forefront of people’s thoughts interventions bowling alley and the north-east Resilience throughout the crisis, whether watching in horror bedroom/dining wing and provision of a A Morningstar study of their ESG indexes during the first In brief the applications cover the In brief this is the removal of modern at the images coming directly from the front line of temporary protective rain screen half of 2020 saw 20 of the 21 indexes lost less than their following three main areas: interventions like the bathrooms, hotel fi ttings, hospitals or governments’ difficulties in ensuring that equivalent index in the broader market, highlighting that former Reception area. The building has been The south west wing and north east front line medical staff have the appropriate protective 1. Replacement of roof coverings with slate responsible investing carries real risk and return benefits subject to many changes over the years, which extensions do not form part of the registered equipment. We will continue to see the healthcare and and repair of the roof structure and is more than just a flavour of investing. The myth of have compromised the integrity of the original part of the building, though they do fall No one pharmaceutical industries highlighted as we struggle This work will represent a major enhancement sacrificing returns for investing in a responsible manner build. These include the proposed removal of: within a conservation area. It is proposed to to contain the pandemic and develop a vaccine. to the building. Parts of the roof are composed has been firmly debunked and the inclusion of ESG remove the north-east bedroom and dining would Investment in healthcare has now taken on a different of a concrete roof tile so replacement with • modern ceilings; factors is being widely considered as a risk mitigation tool wing together with the former bowling alley, dimension as we are seeing real public support in every natural slate and careful repair of the structure argue that in its own right. • modern bathroom en-suites and fi nishes; which are later additions (1960s and 1990s) corner of society; no one would argue that investment where required will enable a major cause of the • modern partitions and fi xtures; and are of limited architectural value. This investment in ensuring good health is not a responsible use of No going back ongoing water ingress to be rectifi ed. will improve access to the main core of investment. Ultimately, the world has changed. If we are to live • the rear single storey store/toilets in ensuring The Castle Mona has had roofi ng works the building for the re-roofi ng and ongoing through change, let us make it positive change. extensions; The pandemic has also highlighted the inequality in undertaken in the past. These included maintenance. The extensions are in poor good health the world, with poorer areas and countries seeing The way the people and businesses of the Isle of Man • the single storey fl at roof infi ll and associated replacing the roof fi nish with a concrete roof condition and detract from the main core of is not a higher mortality rates as a result of poorer health and have navigated the very real challenges thrown our way tile and subsequent repairs to the fl ashings, offi ce/toilets to the inner courtyard. the building. healthcare. during the Covid-19 pandemic has shone a light on our generally in fi breglass. This will enable a better understanding of the The lower fl oor of the south west wing is part responsible Perhaps it could also be argued that enforced isolation ability and desire to do better. Following the acquisition of the building by building. Any remaining, but obscured, historic of the original building; the upper fl oor was use of has brought us closer together; we should use this Responsible investment definitely has its part to play. Tevir Group in 2018 some necessary repair detailing will be revealed along with problem added when the building was converted into feeling of ‘all in this together’ and ensure that this is the works were undertaken to the roof following issues, such as areas of water ingress. an hotel. This wing will remain intact. investment. case moving forward. Find out more at www.rl360.com | 7 Mortgage Repayment Holiday

The Island banks that oﬀ er personal mortgages in the local market have announced the availability of a further three-month mortgage repayment holiday.

he ‘Mortgage Repayment Holiday’ is designed to support those the eff ects of the pandemic. These positive actions demonstrate the individuals who fi nd themselves in fi nancial diffi culties as a result of importance of the Island’s banks in supporting the local community and TCOVID-19 and where they have seen their income suff er as a result. their customers during this unprecedented period’. The holiday forms part of a wider package of support provided by the John Hunter, Head of Banking and Fiduciaries for Finance Isle of Man, banks on Island. added: The support package off ers relief to homeowners by providing a ’Over the last several months our banks have been working tirelessly to repayment holiday of up to three months on a residential mortgage, ensure that consumers and businesses can still access banking services which will now run until 31st October 2020. Santander International, where possible. HSBC, Barclays, Lloyds, Nedbank Private Wealth International, Cayman ‘Alongside this, the banks have continued to support homeowners with National Bank and RBSI which includes the Isle of Man Bank and NatWest packages such as the mortgage repayment holiday and local businesses International, will all, where appropriate, be off ering the holiday to through forbearance and Government-backed funding arrangements. customers who have fallen into fi nancial diffi culty as a result of coronavirus. This support for local people and local businesses has never been more Peter Greenhill, MLC, Member with responsibility for Finance Isle of Man, important’. told B365: To fi nd out more about the Mortgage Repayment Holiday, please contact ‘I am delighted that the local banks have all stepped forward to provide a your mortgage lender directly to discuss. To fi nd out more about the further three month repayment holiday for personal residential mortgages. fi nancial support schemes for businesses and individuals aff ected by ‘Although we are rapidly moving towards the new Manx normal, many coronavirus, please visit: https://covid19.gov.im/businesses/funding- families and individuals will still be struggling fi nancially as a result of support/

Coronavirus restrictions force cancellation of Manx Litfest 2020 The team at Manx Litfest has been forced to cancel this year’s event in light of the Covid-19 restrictions. he festival had been scheduled to in June. While at present the situation in the John added: ‘Manx Litfest receives annual take place from September 22-27, Island is fairly positive, there is still too much support from Isle of Man Arts Council and Twith authors, illustrators and poets uncertainty for the months ahead, which Culture Vannin and we have spoken to both from around the British Isles set to appear makes planning the festival an impossible organisations to explain the situation, along alongside Isle of Man-based writers. task. For that reason, we have decided to with our other sponsors and supporters. Having With the Isle of Man’s borders closed for cancel this year’s event and focus all our seen the festival become a popular regular the foreseeable future, and uncertainty over eff orts on organising next year’s festival. feature in the Isle of Man’s cultural calendar, we indoor gatherings and venue capacities, we ‘On a positive note, having informed the are sad to have to miss this year, but the team have taken the decision to cancel this year’s authors, illustrators and poets who were to is already eagerly looking ahead to next year.’ festival and focus on returning in September visit us this year, the majority are happy to The dates for Manx Litfest 2021 will be 2021. come across for Manx Litfest 2021, while the announced in due course, but it will take place Manx Litfest Director John Quirk told B365: others are interested, but can’t commit to it at in the second half of September. You can ‘When the Island went into lockdown in the moment. We have spoken to Island-based keep up to date with the latest news at www. March, we wanted to wait and see how writers who were to be involved this year, and manxlitfest.com or by following on Facebook, things developed and review the situation invited them to take part next year. Twitter and Instagram.

8 | SECURE UNIFIED COMMUNICATIONS PIVOTAL TO NEW WORKING WORLD If your business wasn’t equipped for remote or flexible working before, the likelihood is that it certainly is now. Joseph Walls, Head of Sales at Sure in the Isle of Man, explains the importance of a unified communications system that offers businesses adequate protection no matter where employees are based.

colleagues and customers, how we did things five years ago is not how we work today. The expanded possibilities of remote and flexible working of course need to be balanced with making sure that your data, systems and employees are protected. Cybersecurity is paramount to the successful roll out of a unified communications system and should be top of the list of things for businesses to address as they review how and where their workforce is now logging in. Sure’s professional services team have the knowledge, experience and expert industry partnerships to find the right unified communications solution for businesses of all sizes. This approach can revolutionise your business and equip you with the tools needed to work more effectively, safely and seamlessly across geographic locations. So what do you need to consider in order to roll out unified communications and collaboration? • Mobile-first: Employees now expect to be able to work flexibly and for many, especially younger workers, this can be a deciding factor in which jobs to apply for. Placing your employees’ mobile needs over their desktop ones is a smart move at this point. • Cloud: Cloud is essential to a unified communications system as it allows for real-time, secure updates to be made to documents, applications and systems across devices and locations. Some of the benefits however of public cloud UC solution can be overshadowed by the drawbacks, one of which could be that your business could JOSEPH WALLS lose its voice and become lost in a sea of customers to the supplier, so ensure you have a relationship with your chosen partner. n recent months we’ve all had to get used to new forms of Security: Of course working on mobile devices remotely entails communicating. For many that’s included getting to grips with unified • a different set of security concerns to when your workforce was communications and collaboration software, such as those provided by I operating from corporate locations. We work with leading industry Sure; Mitel, Microsoft Teams and our own developed Sure Cloud Voice partners like Cisco, Trustwave and Mimecast to offer the latest service. security solutions to keep businesses safe no matter where their The adjustment to a world of self-isolation and lockdown necessitated workforce operates from and we can ensure your specific needs are a rapid rethink for businesses of how they operate and how best to accounted for, whether that is compliance, data sovereignty or even communicate with customers and employees. We worked quickly with BYOD. many local and international businesses to put solutions in place to ensure Training: For your tech-savvy employees, a move to a packaged work could continue. • communications system will be a welcome one. But for some the But now, as businesses face up to the reality of a radically different move will present a challenge. Training in how your new solution professional landscape, the thinking needs to be long-term and it needs to works is essential and should be complemented by awareness revolve around unified communications and collaboration. training as a security consideration. A solution that offers flexibility and protection To survive and thrive in the new working world, a unified communications A unified communications system is essentially a technology that brings all and collaboration solution is a must. your communications needs into an integrated platform that allows you to communicate anywhere, anytime and increase working efficiencies. Key to this are collaboration technologies, which have revolutionised the way we all work. From instant message and chat, to desk-based video conferencing, to secure document sharing and collaboration with

Get in touch with Sure’s team today on [email protected] to learn more, or visit www.business.sure.com PDMS enhances maritime expertise PDMS’ maritime and registry expertise has been further strengthened, by contracting DW Maritime as Independent Maritime Advisors.

I look forward to this interesting and exciting new phase in our relationship.

Isle of Man Disruption Loan Guarantee Agreement exceeds £1.5million worth of business support

he Isle of Man Disruption Loan Guarantee Agreement, a date, the banks have received 108 applications, sanctioned over TCOVID-19 fi nancial support initiative launched by the Isle of £1.5million worth of facilities and helped secure 216 local jobs. Man Government, has provided £1.5million worth of support and ‘The banks and the Isle of Man Government are continuously listening helped secure over 200 jobs for local businesses since its launch to the business community’s concerns and as a result, this week the in April. Agreement’s eligibility criteria has been extended to include additional The Agreement, introduced in response to the fi nancial challenges sectors. I’d also like to take this opportunity to thank the banks, who for facing local businesses as a result of the coronavirus pandemic, the last two months have worked tirelessly to support both the local is supported by Barclays, Conister Bank, HSBC, Lloyds and RBSI business community and consumers during this unprecedented period.’ (including Natwest and the Isle of Man Bank). The Isle of Man Chamber of Commerce are also off ering a free of The Agreement supports overdraft and term-lending facilities for Isle charge ‘Business Advisory Service’, which off ers mentoring and of Man registered businesses with a turnover of up to £10million and guidance to businesses looking for assistance in completing the relevant will enable eligible businesses to access six year term loans with Isle applications for the Agreement. of Man Government-backed guarantees. To fi nd out more about the Isle of Man Disruption Loan Guarantee Laurence Skelly MHK, Minister for Enterprise, told B365: ‘This vital Agreement, please contact your bank directly to discuss or visit https:// funding will enable our local businesses to continue to trade and covid19.gov.im/businesses/funding-support/isle-of-man-disruption- ensure local jobs are safe throughout these uncertain times. To loan-guarantee-agreement/

10 | PDMS enhances maritime expertise PDMS’ maritime and registry expertise has been further strengthened, by contracting DW Maritime as Independent Maritime Advisors.

DW Maritime is a consultancy run by Dick PDMS has considerable experience in the and I am looking forward to forging new and Welsh, MBE. With over 40 years maritime maritime sector, including providing software exciting relationships with ship registries and the experience, as a marine engineer, Class and and services for highly successful and leading wider maritime sector.” Following a recent move to DQ Advocates Flag State Surveyor and Director of the Isle of global ship registries. PDMS are an active Dick Welsh, Independent Advisor added: as an Associate Director in the firm’s Dispute Man Ship Registry, Dick is a hugely respected member of the Isle of Man maritime community. “I have worked with Bruce and the team at and well-known fi gure in the global maritime Director Bruce McGregor regularly attends PDMS for many years and have fi rst-hand Resolution team, we caught-up with Mark Emery sector. Dick was the driving force behind the key international maritime events such as, experience of how PDMS’ technical partnership to find out what it has been like to move jobs during IoM Ship registry, during his time as Director, London International Shipping Week (LISW) and style, digital expertise and services can help forging its global and class leading reputation Posidonia and is a member on the Executive to transform a business and deliver desired lockdown and to assess current and future litigation including leading its digital transformation before Board of Isle of Man Maritime. strategic outcomes. I am confi dent that my his retirement in late 2019. In recognition of his As an Independent Advisor to PDMS, broad maritime expertise combined with my trends on the Isle of Man. outstanding contribution to the sector he was DW Maritime’s Dick Welsh will be working understanding of how PDMS delivers will awarded a well-deserved MBE in 2019 and the closely with Director Bruce and our business complement the team and I too look forward to Mersey Maritime, Maritime Ambassador’s Award development team to expand and enhance our this interesting and exciting new phase in our in March 2020. maritime expertise. Dick will help to facilitate and relationship.” enhance relationships with new and existing clients and work with us to identify opportunities where PDMS’ digital expertise can add value. Bruce McGregor, Director at PDMS told B365: MARK EMERY “Our great relationship with Dick goes back many years, so he has a solid understanding of INTERVIEW PDMS’ capabilities and areas where our services can really enhance maritime businesses. Since Tell us a little about yourself? What trends have you seen in respect of litigation on the retiring as the Director, and globally recognised I have been an Advocate since 2012 and practice a wide range Isle of Man during COVID and what do you expect in the fi gurehead of the Isle of Man Ship Registry, of commercial litigation. My job focusses upon acting for clients near future? Dick maintains his position as an active and in commercial disputes, banking litigation, insolvency and fraud Whilst there was an initial slow-down of work it now appears most dynamic member of the international maritime & asset tracing. Outside of work I am a keen sportsman, splitting litigation is largely progressing as normal. The High Court has provided community. I am delighted to personally my time between going to the gym and football. I`m also a guidance to indicate that it is open to adjourning matters, but given that welcome Dick to this independent advisor role proud Manxman and love exploring the Island with my family at most advocates and clients are working relatively smoothly at home, weekends. many cases which DQ are acting in have continued and we are still I look forward to this interesting regularly receiving new instructions. Why did you move to DQ? and exciting new phase in our Looking forward, the UK Government has recently published the relationship. There was a terrific opportunity for me at DQ to further grow my Corporate Insolvency and Governance Bill, which proposes a radical legal practice and to play an important part in growing the firm reform of the insolvency regime with the aim of acting swiftly to and its leading Dispute Resolution department. DQ is renowned prevent aggressive creditor action against otherwise viable companies for being a modern, progressive and forward-thinking firm on the struggling because of COVID. In particular, the Bill includes temporarily Island and it felt like a great fit for both parties. DQ is a leading banning the use of statutory demands and the presentation of winding- Isle of Man Disruption Loan Guarantee Agreement full service law firm (providing assistance to clients not only in up petitions where a company cannot pay its bills due to COVID respect of largescale litigation and commercial instructions, but in order to provide some breathing space and promote business exceeds £1.5million worth of business support also issues such as matrimonial law and commercial property) and recovery. Whilst writing this article, the Isle of Man has not announced is also known for its prominent position in providing support and similar proposals. If this remains the case then, whilst I expect there will assistance to local charities and sportsmen and women on the be some further goodwill following COVID, I anticipate at some point in he Isle of Man Disruption Loan Guarantee Agreement, a date, the banks have received 108 applications, sanctioned over Island. All in all, it was an exciting opportunity! the not too distant future companies will need to improve cashflow and COVID-19 fi nancial support initiative launched by the Isle of £1.5million worth of facilities and helped secure 216 local jobs. T we will start to see an increase in the volume of debt recovery action Man Government, has provided £1.5million worth of support and ‘The banks and the Isle of Man Government are continuously listening How have you found moving jobs during lockdown and winding-up proceedings being brought to the Isle of Man High helped secure over 200 jobs for local businesses since its launch to the business community’s concerns and as a result, this week the and have you found it challenging working from Court. in April. Agreement’s eligibility criteria has been extended to include additional home? The Agreement, introduced in response to the fi nancial challenges sectors. I’d also like to take this opportunity to thank the banks, who for It is obviously a rather odd way to start a new job, but the transition For businesses on the Island, how do you envisage the facing local businesses as a result of the coronavirus pandemic, the last two months have worked tirelessly to support both the local to DQ has been surprisingly smooth. I am lucky in that DQ has ‘new normal’? is supported by Barclays, Conister Bank, HSBC, Lloyds and RBSI business community and consumers during this unprecedented period.’ always been known as a family friendly firm and had already, prior If there is one positive to take out of the recent awful situation it is that (including Natwest and the Isle of Man Bank). The Isle of Man Chamber of Commerce are also off ering a free of to COVID, invested heavily in improving its IT systems so it was perhaps businesses will further embrace remote and flexible working. The Agreement supports overdraft and term-lending facilities for Isle charge ‘Business Advisory Service’, which off ers mentoring and easier for everyone to work from home remotely. As such, on my I suspect many employees will be reluctant to go back to work when of Man registered businesses with a turnover of up to £10million and guidance to businesses looking for assistance in completing the relevant first day I was simply provided with everything I needed to work they have proven to their employer that they can work effectively will enable eligible businesses to access six year term loans with Isle applications for the Agreement. from home and I managed to set it all up myself without any major from home. With most businesses on the Island already having to of Man Government-backed guarantees. problems. I think we are all quite lucky too in that with apps such To fi nd out more about the Isle of Man Disruption Loan Guarantee invest in infrastructure to facilitate working from home I hope the as Zoom it has been really easy for me to meet everyone without Laurence Skelly MHK, Minister for Enterprise, told B365: ‘This vital Agreement, please contact your bank directly to discuss or visit https:// Island business community continues to promote remote and flexible being able to physically go into the office. The firm also has ‘drinks’ funding will enable our local businesses to continue to trade and covid19.gov.im/businesses/funding-support/isle-of-man-disruption- working even after COVID. I believe that, for many, this is a smarter way on Zoom each Friday afternoon, so little things like that have made ensure local jobs are safe throughout these uncertain times. To loan-guarantee-agreement/ of doing business and that there are also other wider benefits, such as me feel really welcome. environmental due to the reduction in people commuting each day.

| 11 LAXEY GLEN MILLS

Our hope is that the many, many people who have bought Manx now will remain customers going forward.

Matt joined the Mill on 30th March 2020. Matt’s background is largely from food retail, having Matthew Baptist spent time working with ASDA, Sainsburys and Tesco. Matt’s experience comes from building and reinventing business propositions. As a Demonstrating the importance of retailer he’s familiar with sitting in the middle of a supply chain and understands the importance of gaining a deep understanding of the needs of food security in troubled times both customers and suppliers. In addition, the Mill recognised the need for he Covid-19 crisis is an unprecedented been paying up to £6 for a bag of fl our on eBay) specialist milling experience, in particular in the event and has brought about a lot of the Mill has been able to keep a steady supply planning and feasibility of milling operations. creative thinking to look at new ways of T of Manx grown and milled fl our on the Island’s So, it has also engaged milling expert, Mark working for many industries across the Island. In shelves. Philip Dunne, the Chairman of the Board Robinson on a consultancy basis. With over Laxey, Laxey Glen Mills has temporarily bolstered of Mill told B365: “What the crisis has shown is 25 years of milling experience Mark has, until its team with the recruitment of local man, Peter the importance of local produce to our Island’s recently, fi lled the post of General Manager Ross and as a contingency the production team food security. Our hope is that the many, many at Allied Mills in the UK. Mark will provide the has been separated into two halves, adopting a people who have bought Manx now will remain specialist advice to help Matt cost and deliver split shift system, keeping the Mill running for a customers going forward and the good-will the proposals for the Mill’s future. His knowledge total of 66 hours across a 6-day week. and unity of our community will continue to be and experience have already proved invaluable The Manx public has been making the most refl ected into the future.” during the current Covid 19 crisis. of its time at home over the last few weeks of The Board at the Mill has been working to Mr Dunne continued: “Key to the Mill’s future lockdown, and demand for 1.5kg bags of Laxey’s develop a long-term viable future for milling is the need to continue to build open and baking and bread fl our has been running at on the Isle of Man. In this aim it has received productive working partnerships. To this end the many times normal levels, and sales to local fantastic support from the Isle of Man Treasury new Board have visited a number of growers and bakeries have been higher than at seasonal and DEFA. Together with the help of Treasury, customers and Matt will be making similar visits peaks. Whilst many mills across the water have the Board identifi ed that a major fi rst step on to get to know all parties. Together to everyone’s run out of 1.5kg bags Laxey Glen Mills have even that journey was the recruitment of a Strategic mutual benefi t we can ensure a sustainable future (thanks to a team eff ort, including Mannin Group Development Manager to help enhance and for all. Our common goal is to supply the Island and Bridson & Horrox) been applying labels by refi ne the Mill’s current practices and to develop with exceptional quality, locally grown, milled hand to unbranded bags to maintain continuity viable alternatives for the Mill’s future. DEFA and baked product, with identifi able provenance of supply to the Island. helped resource the search and the Board have and low food miles and so reduce the need for Whilst retail bags of fl our continue to be scarce now been successful in fi lling the role with a top- imports. Now, more than ever before, we believe in supermarkets in the UK (and people have quality candidate, Matthew Baptist. that goal is one that we must all strive to achieve."

Isle of Man Meats says thanks for support from community Isle of Man Meats has praised the Island’s food and farming community – and shoppers – for their support during the COVID-19 crisis.

hil Parsons, Plant Director at Isle of Man Meats, told B365: “At the DEFA and Isle of Man Government generally. Equally important has been start of the crisis our ﬁ rst priority was to protect our employees, the support from shoppers who have responded magniﬁ cently to our P and visitors to the plant, while also maintaining the operation #MakeSureItsManx campaign and the ‘buy local’ messages from across of what is a strategic asset that’s vital for the Island’s food chain. From Government and the Island’s food and drink sector. There’s no doubt that moment on we have received fantastic co-operation from our that this has been a very challenging time for all of us, but there are employees who have gone above and beyond the call of duty, all of our some positives which we can draw on too. Firstly, it has been inspiring 220 producers, network of retailers, hauliers, suppliers, and of course to see how the community has worked together to meet the Island’s

12 | LAXEY GLEN MILLS Transformation of health and care The ﬁ rst annual report of the Health moves forward and Care Transformation Programme Our hope is that the will be presented to Tynwald in July. many, many people who have bought Minister for Health and Social Care David Ashford said: ‘It’s pleasing to see the transformation programme becoming more Manx now will visible on many fronts. Work continued as far as possible during the pandemic, despite the focus of colleagues being diverted remain customers elsewhere. The timetable has been adjusted slightly but the way going forward. forward remains clear. We are aiming for Manx Care to operate in shadow form from the start of January 2021, only three months later than planned, with the new landmark body due to ‘go live’ as originally planned from April 2021*’ He added: ‘The coronavirus crisis made us fi nd new ways of Matt joined the Mill on 30th March 2020. Matt’s doing things, under pressure and at pace. We maintained and background is largely from food retail, having developed essential services while dealing with a global health he programme to restructure the health and care system Matthew Baptist spent time working with ASDA, Sainsburys and crisis, learning a great deal about making swift and necessary in the Island is raising its profi le and moving forward with Tesco. Matt’s experience comes from building changes to care delivery in a way we could never have predicted. fresh impetus and clear key milestones. and reinventing business propositions. As a T The transformation programme and the Department are working Demonstrating the importance of retailer he’s familiar with sitting in the middle of The transformation team scaled back its public engagement together to incorporate some of the changes which served our a supply chain and understands the importance work during the coronavirus pandemic, as Government focused people well into the wider transformation of service delivery. The of gaining a deep understanding of the needs of resources on the Covid-19 response. programme will benefi t from the determination of staff and the both customers and suppliers. food security in troubled times However, during that time signifi cant progress has been made public to achieve lasting and progressive reforms to our treasured In addition, the Mill recognised the need for by the team towards the programme’s objective: to take a health and care services.’ he Covid-19 crisis is an unprecedented been paying up to £6 for a bag of fl our on eBay) specialist milling experience, in particular in the unique opportunity to redesign integrated, high quality, person- event and has brought about a lot of the Mill has been able to keep a steady supply planning and feasibility of milling operations. creative thinking to look at new ways of centred health and care services which will be sustainable in the T of Manx grown and milled fl our on the Island’s So, it has also engaged milling expert, Mark working for many industries across the Island. In long-term. shelves. Philip Dunne, the Chairman of the Board Robinson on a consultancy basis. With over Laxey, Laxey Glen Mills has temporarily bolstered CONSTABULARY TO of Mill told B365: “What the crisis has shown is 25 years of milling experience Mark has, until Work began in earnest last year to establish Manx Care, a new its team with the recruitment of local man, Peter the importance of local produce to our Island’s recently, fi lled the post of General Manager stand-alone health and care delivery body, separate from the Ross and as a contingency the production team CONSIDER ABBOTSWOOD food security. Our hope is that the many, many at Allied Mills in the UK. Mark will provide the Department of Health and Social Care which will be responsible has been separated into two halves, adopting a people who have bought Manx now will remain specialist advice to help Matt cost and deliver for wider policy and strategy. The creation of Manx Care is the split shift system, keeping the Mill running for a customers going forward and the good-will the proposals for the Mill’s future. His knowledge cornerstone recommendation of Sir Jonathan Michael’s landmark CARE HOME FILES total of 66 hours across a 6-day week. and unity of our community will continue to be and experience have already proved invaluable report, and a public consultation inviting feedback on legislation The Registration & Inspection (R & I) and Safeguarding The Manx public has been making the most refl ected into the future.” during the current Covid 19 crisis. to establish the body was underway before the pandemic began. Investigations into the running of Abbotswood Nursing of its time at home over the last few weeks of The Board at the Mill has been working to Mr Dunne continued: “Key to the Mill’s future Work to establish Manx Care will be more visible from this lockdown, and demand for 1.5kg bags of Laxey’s Home have been temporarily suspended by the develop a long-term viable future for milling is the need to continue to build open and month, with the introduction of the Manx Care Bill to the baking and bread fl our has been running at Department of Health and Social Care. on the Isle of Man. In this aim it has received productive working partnerships. To this end the House of Keys at the start of its parliamentary journey. This is a many times normal levels, and sales to local fantastic support from the Isle of Man Treasury new Board have visited a number of growers and signifi cant step towards creating an entirely new statutory health xternally appointed investigators working as part of the R & I bakeries have been higher than at seasonal and DEFA. Together with the help of Treasury, customers and Matt will be making similar visits and care organisation in the Isle of Man, responsible for all investigation, commissioned by the department, have recommended peaks. Whilst many mills across the water have E the Board identifi ed that a major fi rst step on to get to know all parties. Together to everyone’s service delivery. referral to Isle of Man Constabulary for consideration as to whether run out of 1.5kg bags Laxey Glen Mills have even that journey was the recruitment of a Strategic mutual benefi t we can ensure a sustainable future potential off ences have been committed. (thanks to a team eff ort, including Mannin Group Development Manager to help enhance and for all. Our common goal is to supply the Island In addition, recruitment has begun for an independent non- and Bridson & Horrox) been applying labels by In the meantime, all investigations led by DHSC that had been underway at refi ne the Mill’s current practices and to develop with exceptional quality, locally grown, milled executive chair for Manx Care, a challenging role in which the hand to unbranded bags to maintain continuity Abbotswood have been halted. viable alternatives for the Mill’s future. DEFA and baked product, with identifi able provenance successful candidate will be tasked with ensuring transformed of supply to the Island. helped resource the search and the Board have and low food miles and so reduce the need for health and social care services are delivered for the people of Once the Constabulary has considered the position, contact will be made Whilst retail bags of fl our continue to be scarce now been successful in fi lling the role with a top- imports. Now, more than ever before, we believe the Island. It is the fi rst in a series of important appointments to with those directly involved. in supermarkets in the UK (and people have quality candidate, Matthew Baptist. that goal is one that we must all strive to achieve." the new board.

Isle of Man Meats says thanks for support from community needs. Secondly, the increase in demand for locally produced meat emerge following the current phase of the COVID-19 emergency. has been very welcome and we’ve had lots of feedback which clearly This is just the end of the fi rst phase of what will be a long journey Isle of Man Meats has praised the Island’s food and farming community – and shoppers – for their support during the COVID-19 crisis. demonstrates that many customers on the Island have discovered the for everyone in the Island’s food and farming sector, but Isle of hil Parsons, Plant Director at Isle of Man Meats, told B365: “At the DEFA and Isle of Man Government generally. Equally important has been benefi ts of buying local for the fi rst time. In fact, local meat sales were Man Meats is in a strong position thanks to everyone who has start of the crisis our fi rst priority was to protect our employees, the support from shoppers who have responded magnifi cently to our up 42% in April when compared to the same month last year. Of course, supported us over recent months – so we want to say a big ‘thank P and visitors to the plant, while also maintaining the operation #MakeSureItsManx campaign and the ‘buy local’ messages from across we can’t be complacent and assume that this trend will continue so you’ to you all.” we are already working hard to ensure that this local market growth of what is a strategic asset that’s vital for the Island’s food chain. From Government and the Island’s food and drink sector. There’s no doubt Isle of Man Meats’ beef, lamb and pork are available from continues in the long-term. that moment on we have received fantastic co-operation from our that this has been a very challenging time for all of us, but there are participating butchers’ shops, convenience stores, and supermarkets employees who have gone above and beyond the call of duty, all of our some positives which we can draw on too. Firstly, it has been inspiring “Growing our markets both on and off -Island will mean adapting Island-wide. Find out more at www.iommeats.com and the fi rm’s 220 producers, network of retailers, hauliers, suppliers, and of course to see how the community has worked together to meet the Island’s our business strategy to the economic and social realities that social media channels.

| 13 y name is Kathryn Druggan, and I am education, fun and peace to work. Some days the kids a Senior Analyst for PDMS with clients are motivated towards schooling whilst on other days, including a global corporation and Isle of a virtual catch-up with their friends via apps such as MMan Government. My job as an Analyst Tik Tok, Minecraft or Robox proves to be much more requires communication, collaboration, and plenty of alluring. headspace. I am the conduit between the client and Over the past few months, our family has developed our development team and must continue to deliver new skills. Daddy learned about dancing (although the high level of service PDMS have always provided, technically he still can’t dance) and we have both pandemic or no pandemic. Balance this with home- adapted a mix of fun and educational tasks for the schooling three children of 10, 7 and 5 and it is safe to children. However, the biggest change has been in say I have been tested in ways never expected. the kids – my youngest, aged five now gets himself up, I joined PDMS in January 2018, so I am a relative dressed (in some very questionable outfits), can now ‘newbie.’ Since joining PDMS, I have invariably been ride his bike and I have seen his reading and speech n BY KATHRYN DRUGGAN, proud of working for the company, but even more so come on leaps and bounds. My eldest two can now Senior Analyst, PDMS throughout this pandemic. We had established policies write a decent Zoom quiz, have choreographed dance that allowed for homeworking, this meant that the routines and designed costumes! infrastructure and security were already in place. Our I cannot say that I have not been worried about the teams did not need to ‘learn’ how to work remotely or increase in screen time and have been disappointed introduce any new tools to the mix – this is our normal that my children do not wake-up each morning leaping and we do it well. out of bed excited and driven to learn. As a parent, I cannot say that this period has been without stress or the pressure to be ‘everything.’ All this said, I really feel there is light at the end of the tunnel. Our Covid-19 statistics continue to head in the right direction and there is a phased return to school (albeit under new conditions), so, this won’t last forever. Thanks to our beautiful island, some exceptional weather, and a very supportive employer, I can honestly say that The Druggan’s have tried to make the very best of an extraordinary time in our lives. When I contemplate how my family will emerge from this shared bizarre experience, I believe we will be more COSTUME CALLS appreciative, understanding and supportive of each other (if not wiser). What I know for certain is, after all this, I will miss the time I have spent with my mini squad Were the teachers lying who have undoubtably taught me a lesson or two.

SCIENCE EXPERIMENT when they said my kids When the Isle of Man Government released their plans for lockdown, PDMS flung open the doors and allowed us to seize anything which was not nailed down (bar the snack and coffee machines). I took my office chair, laptop stand, two monitors and keyboard/mouse which were a joy to teach? were kindly delivered to me by our Operations Director – we’re a paperless office, so thankfully I didn’t need to bring paper home with me. It feels like only yesterday (pre-pandemic) that my friends and I were laughing at the now viral, YouTube video of I am currently working on four projects for one of my clients. Due to our remote working policies and BBC news correspondent Professor Robert Kelly attempting to keep his cool during a live interview hilariously gate- technology, the impact to this client has been minimal. My crashed by his small children. hours have changed slightly to allow for home schooling, however this has actually suited my clients who have Oh how this blooper made us giggle, the suited expert presenting political opinion to the world, as a persistent a Head Office in the US. Despite some of my contacts toddler joins him oblivious to the hint “Hey Daddy’s on the phone, little buddy’. If you have not seen it, you should, being furloughed or having to adapt the way they work, I it’s comedy gold! The first child is followed by a baby on wheels and is deftly extracted from the room by the Prof’s have found that the pandemic has actually strengthened flustered wife sliding in to save the day. our relationships as we speak to each other on a personal level rather than just a professional level. But who is laughing now? After over 10 weeks of working from home, whilst attempting to home-school, I have experienced a few comic online bloopers myself. They might not have been as high profile, nor broadcast to the Spinning plates world, but to the professional in me cringeworthy enough! When it comes to my kids, I cannot boast to have defined a particularly ideal routine nor ‘typical day’. Bloopers aside, combining work and childcare, let alone education, has been a tremendous career challenge. We have largely been ‘winging it’, probably like many parents, looking for the right balance between ADVENTURES

14 | y name is Kathryn Druggan, and I am education, fun and peace to work. Some days the kids a Senior Analyst for PDMS with clients are motivated towards schooling whilst on other days, including a global corporation and Isle of a virtual catch-up with their friends via apps such as MMan Government. My job as an Analyst Tik Tok, Minecraft or Robox proves to be much more requires communication, collaboration, and plenty of alluring. headspace. I am the conduit between the client and Over the past few months, our family has developed our development team and must continue to deliver new skills. Daddy learned about dancing (although the high level of service PDMS have always provided, technically he still can’t dance) and we have both pandemic or no pandemic. Balance this with home- adapted a mix of fun and educational tasks for the schooling three children of 10, 7 and 5 and it is safe to children. However, the biggest change has been in say I have been tested in ways never expected. the kids – my youngest, aged five now gets himself up, I joined PDMS in January 2018, so I am a relative dressed (in some very questionable outfits), can now ‘newbie.’ Since joining PDMS, I have invariably been ride his bike and I have seen his reading and speech n BY KATHRYN DRUGGAN, proud of working for the company, but even more so come on leaps and bounds. My eldest two can now Senior Analyst, PDMS throughout this pandemic. We had established policies write a decent Zoom quiz, have choreographed dance that allowed for homeworking, this meant that the routines and designed costumes! infrastructure and security were already in place. Our I cannot say that I have not been worried about the teams did not need to ‘learn’ how to work remotely or increase in screen time and have been disappointed introduce any new tools to the mix – this is our normal that my children do not wake-up each morning leaping and we do it well. out of bed excited and driven to learn. As a parent, I cannot say that this period has been without stress or the pressure to be ‘everything.’ All this said, I really feel there is light at the end of the tunnel. Our Covid-19 statistics continue to head in the right direction and there is a phased return to school (albeit under new conditions), so, this won’t last forever. Thanks to our beautiful island, some exceptional weather, and a very supportive employer, I can honestly say that The Druggan’s have tried to make the very best of an extraordinary time in our lives. When I contemplate how my family will emerge from this shared bizarre experience, I believe we will be more COSTUME CALLS appreciative, understanding and supportive of each other (if not wiser). What I know for certain is, after all this, I will miss the time I have spent with my mini squad Were the teachers lying who have undoubtably taught me a lesson or two.

| 15 Be aware DOUGLAS PROMENADE of impact of SCHEME UPDATE The Isle of Man Government, working in partnership with its main covid-19 on construction contractor Auldyn Construction Ltd, has developed a economic new Promenade programme to allow the highway works along the substance Douglas Promenade to be delivered more quickly. he Isle of Man’s tax legislation requires companies that are tax resident on Tthe Island - and generating income from relevant sector activities - to comply with the economic substance test. That encompasses the requirements to conduct core income-generating activities on the Island and the “managed and directed” test. Specifi cally, the latter requires that signifi cant board meetings, where matters are deliberated and approved, must be he ambitious programme seeks to take parking as it will be used for emergency vehicles conducted on the Island and the Directors advantage of the low traffi c volumes due from 15 June. that form a quorum must be physically to COVID-19 restrictions and the likelihood T The scope of the project has been reduced by present. of there being limited holiday visitors during the two temporary changes intended to make sure However, the disruption in international travel summer of 2020. The aim is to make sure that that it is ready by 31 March 2021. has compounded the risk of non-compliance the works are completed before the 2021 visitor with the economic substance legislation, season so that businesses along the Promenades The fi rst major change will be that the horse explained Chris Dera, Tax Division Manager can have the best possible chance to recover tram track line from Broadway through to the at Grant Thornton Isle of Man. from the challenges created by COVID-19. Bottleneck will not be laid until the winter of 2021- 22. The route of the tramway will be temporarily ‘This is due to the inability of directors and The new programme will mean that the other key personnel to travel in and out of replaced with landscaping. Promenade highway will be complete by the end the Island. Unlike in other jurisdictions with The second change is that the roundabouts of March 2021 so that all construction works are similar economic substance legislation, the at the bottom of Broadway and Church Road removed from the Prom before the season starts. Isle of Man Income Tax Division has not yet will for now be fi nished in an enhanced tarmac Over the following winter the tram track will be released any published views with guidance construction. This will save a number of months completed. for the aff ected entities. on the programme. The high quality pedestrian ‘Though it is widely expected the Division Two key decisions have been taken to achieve crossings close to the roundabouts will still be will take a more pragmatic view when this new programme. Firstly, some of the fi nished in block paving as part of the main works assessing client circumstances on a case- constraints imposed on the scheme are being but the two roundabouts will be updated with by-case basis, we nevertheless strongly relaxed. Secondly, some elements of the scope paviours as part of the later works. recommend aff ected client entities take the of the work are being delivered in a new way or New gateway to the Isle of Man initiative. Our advice is to self-assess your delayed until the following winter. own specifi c circumstances with a view to Infrastructure Minister Tim Baker MHK said: ‘This is The changed constraints mean that a one-way mitigating non-compliance risk and retain the Government’s most signifi cant refurbishment system from Victoria Street through to Summerhill relevant documentary evidence which is scheme and we are determined to deliver a new suffi cient to demonstrate any adequate will be in place from Monday 15 June 2020 until gateway to the Isle of Man. COVID-19 has changed compliance,’ he told B365. the end of the school summer holidays. There will this scheme, like everything else, so bringing in Chris added: ‘There are various potential be associated closures at various times on side additional resource and deferring parts of the impacts and, in view of the likely prolonged roads such as Church Road Marina, Broadway scheme until after the tourist season for 2021 is the disruption to global travel, a recommended and Summer Hill. Broadway and Church Road right decision for the Isle of Man. I am certain that mitigating measure is to consider the Marina will be closed at the same time for six I want the works to be off the Prom by the end of appointment of alternate Isle of Man based weeks. To help traffi c moving southbound there March but equally certain that I want the tramway to directors to ensure those companies will be adjustments to key junctions in Onchan and be completed to the Sea Terminal before the 2022 aff ected can form a quorum.’ Douglas. The new traffi c management details are season in line with the express will of Tynwald. Grant Thornton’s fi duciary services has a outlined on www.myprom.im and on www.gov.im ‘This approach gives the businesses on the team of highly qualifi ed and experienced The site’s operating hours will now be from Promenade and the Island as a whole the directors who are able to act as alternate 0730-1830 on weekdays and from 0730 to 1530 opportunity to regroup and bounce back ready directors and assist the aff ected entities on Saturdays. There may be some work on some for the 2021 season. This decision demonstrates with fi lings and the requisite formalities for Sundays. Some of the noisier activities will not the commitment of this Government to support appointment of alternate directors. start until 0800. our businesses and our economy. Additionally, Grant Thornton’s tax team can assist and advise businesses on the There will be limited parking along the highway ‘We will continue to liaise with all residents implications of the economic substance on the Promenade during the summer but this and businesses along the length of Douglas legislation and all other Isle of Man and will be fully reinstated as soon as possible. Promenade to address any concerns or off er international tax matters. The Promenade walkway will not be open for assistance.’

16 | NEVER HAS THE TOPIC HAD MORE RELEVANCE at work... ellness at work is a topic that of gym facilities and showers, to access many companies have finally to mental health professionals and Wstarted taking seriously. The private healthcare. reasons aren’t entirely altruistic because The subject is highly topical at the – in purely financial terms – looking present time with many people working after the health and wellbeing of staff from home and significant numbers increases efficiency and improves staff of people still receiving the MERA retention. In highly competitive sectors payments, with the relative hardship that the battle for key employees often goes it brings. down to which company offers the best working conditions and welfare Businesses that take the Wellness package. Wellness at work programmes of their employees seriously as we can include anything from the provision Continued on page 20...

| 17 NOBODY KNOWS ANYTHING Pinnacle CEO Richard Reid on why uncertainty is the only thing businesses can be certain of in the post-lockdown world - and how they can use it to thrive.

dealists would have you believe that, as Organisations are often looking for a partner These aim to help leaders develop the skills we begin to shape our post-coronavirus that can work with them from shop-floor to and competencies they need to be able Ienvironment, the world will be a very different C-suite, taking an holistic view of their people, to excel in the corporate world and public place. We will no longer chase materialism, culture and performance. At Pinnacle we help sector today. We work in partnership with we’re told. We’ll be gentler, softer and kinder them do just that. organisations to make sure their leadership consumers, goes the prediction. objectives are met, and then we work with them to make sure these are embedded Realists would point to the mile-long drive-thru How are your people doing? into the organisation to create self-sustaining queues that sprung up around any re-opening change. McDonalds to suggest that, whisper it, the One of the major trends we’re already world after Coronavirus might well be very seeing is companies wanting to get on the similar to the one preceding it. front foot as far as employee wellbeing is What’s your culture like? concerned. They’re looking for support and The truth about these predictions? No-one Culture is one of the first things we always ask training for their employees, managers and knows. It’s possible that by the time you read our clients about: it’s where performance meets leadership teams to help them adjust to life this, the UK will have been placed back in psychology. It doesn’t matter how good your post-Covid19. lockdown. It’s almost certain that the world will business strategy is: if your culture doesn’t be changed forever in lots of ways, but right now We start with some by making sure that their support it then the smartest thinking is dead in we don’t know exactly what that future will look teams have the tools they need for mental the water. like. Anyone who pretends that they do is either wellbeing, offering training in-house or online brave, or foolish - or both. As William Goldman for mental health first aid and awareness. once wrote, “Nobody knows anything.” We work in partnership with them to create It doesn’t matter how a culture in which managers and general No man is employees are not only more open in good your business So what do we know? discussing mental health issues, but also able strategy is: if your All organisations can do to prepare for what’s to seek or offer support more readily. next is to make sure that we’re each ready to culture doesn’t support For some companies we also offer a managed an island. embrace the inevitable change that will come, counselling referral system that handles it then the smartest and that our people have the tools they need psychological support for any employees who to do that. What we do know is that every strategy is dead in the might need it. We oversee and supply clinical single business has been - and will continue to Apart from this one, of course. But all 83,314 of assessments, regular progress updates and water. be - affected, whether here on the Isle of Man, us could do with a helping hand sometimes. end-of-therapy reports, so that people receive or the mainland and beyond. the right support with minimal disruption to the Is your organisational culture working? How overall functioning of the business. do you know? We partner with organisations So if you’d like your people (and your business) to be that want to go beyond vision and values at their best, our unique combination of coaching, Every single business statements and implement tangible, lasting training and therapy could be the answer. has been - and will What does peak performance look like? culture change that delivers measurable outcomes for the business across everything We’re a performance partner to forward- continue to be - from employee engagement to innovation. We’re Pinnacle Wellbeing Services. Based here on the thinking businesses who want to make sure affected, whether here their people are mentally and emotionally Our consultants have all spent years working Isle of Man and in London, we focus on the bigger on the Isle of Man, ready to be at their best at work - whether it’s with leaders and teams within corporates and picture of your workforce’s potential, performance and in the office or at home. Our coaching and start-ups to improve performance, and culture wellbeing in ways no-one else can, whether it’s helping or the mainland and consultancy helps create a work environment is absolutely key to making change happen you tackle workplace stress or hit peak performance. beyond. that inspires and energises, so that your and improving results across the board. people can stay on track through turbulent times and make sure your business is firing on The lucky, smart, flexible companies will Life moves pretty fast all cylinders. adapt and thrive, with the agility to turn it to The pace of change is dizzying, and the their advantage and come back stronger. We deliver resilience coaching to help achieve uncertainty can be hugely stressful. But there is We’re already seeing it happen as future- this, enabling people to develop the emotional plenty that smart, progressive companies can ready organisations turbo-charge their digital balance they need to perform under stress, do to future-proof their business. At Pinnacle Find out more: offerings. For example, online retail grew at 1% and we team this with 1-2-1 business coaching we’re already working with some of them to 07624 499 511 | 0207 060 4375 each year for 20 years - and then leaped by 8% for senior leaders as well as creating bespoke make sure that they’re ready for the brave new in the last few months. leadership group programmes. world - whatever it looks like. [email protected]

18 | NOBODY KNOWS ANYTHING Pinnacle CEO Richard Reid on why uncertainty is the only thing businesses can be certain of in the post-lockdown world - and how they can use it to thrive. dealists would have you believe that, as Organisations are often looking for a partner These aim to help leaders develop the skills we begin to shape our post-coronavirus that can work with them from shop-floor to and competencies they need to be able Ienvironment, the world will be a very different C-suite, taking an holistic view of their people, to excel in the corporate world and public place. We will no longer chase materialism, culture and performance. At Pinnacle we help sector today. We work in partnership with we’re told. We’ll be gentler, softer and kinder them do just that. organisations to make sure their leadership consumers, goes the prediction. objectives are met, and then we work with them to make sure these are embedded Realists would point to the mile-long drive-thru How are your people doing? into the organisation to create self-sustaining queues that sprung up around any re-opening change. McDonalds to suggest that, whisper it, the One of the major trends we’re already world after Coronavirus might well be very seeing is companies wanting to get on the similar to the one preceding it. front foot as far as employee wellbeing is What’s your culture like? concerned. They’re looking for support and The truth about these predictions? No-one Culture is one of the first things we always ask training for their employees, managers and knows. It’s possible that by the time you read our clients about: it’s where performance meets leadership teams to help them adjust to life this, the UK will have been placed back in psychology. It doesn’t matter how good your post-Covid19. lockdown. It’s almost certain that the world will business strategy is: if your culture doesn’t be changed forever in lots of ways, but right now We start with some by making sure that their support it then the smartest thinking is dead in we don’t know exactly what that future will look teams have the tools they need for mental the water. like. Anyone who pretends that they do is either wellbeing, offering training in-house or online brave, or foolish - or both. As William Goldman for mental health first aid and awareness. once wrote, “Nobody knows anything.” We work in partnership with them to create It doesn’t matter how a culture in which managers and general No man is employees are not only more open in good your business So what do we know? discussing mental health issues, but also able strategy is: if your All organisations can do to prepare for what’s to seek or offer support more readily. next is to make sure that we’re each ready to culture doesn’t support For some companies we also offer a managed an island. embrace the inevitable change that will come, counselling referral system that handles it then the smartest and that our people have the tools they need psychological support for any employees who to do that. What we do know is that every strategy is dead in the might need it. We oversee and supply clinical single business has been - and will continue to Apart from this one, of course. But all 83,314 of assessments, regular progress updates and water. be - affected, whether here on the Isle of Man, us could do with a helping hand sometimes. end-of-therapy reports, so that people receive or the mainland and beyond. the right support with minimal disruption to the Is your organisational culture working? How overall functioning of the business. do you know? We partner with organisations So if you’d like your people (and your business) to be that want to go beyond vision and values at their best, our unique combination of coaching, Every single business statements and implement tangible, lasting training and therapy could be the answer. has been - and will What does peak performance look like? culture change that delivers measurable outcomes for the business across everything We’re a performance partner to forward- continue to be - from employee engagement to innovation. We’re Pinnacle Wellbeing Services. Based here on the thinking businesses who want to make sure affected, whether here their people are mentally and emotionally Our consultants have all spent years working Isle of Man and in London, we focus on the bigger on the Isle of Man, ready to be at their best at work - whether it’s with leaders and teams within corporates and picture of your workforce’s potential, performance and in the office or at home. Our coaching and start-ups to improve performance, and culture wellbeing in ways no-one else can, whether it’s helping or the mainland and consultancy helps create a work environment is absolutely key to making change happen you tackle workplace stress or hit peak performance. beyond. that inspires and energises, so that your and improving results across the board. people can stay on track through turbulent times and make sure your business is firing on The lucky, smart, flexible companies will Life moves pretty fast all cylinders. adapt and thrive, with the agility to turn it to The pace of change is dizzying, and the their advantage and come back stronger. We deliver resilience coaching to help achieve uncertainty can be hugely stressful. But there is We’re already seeing it happen as future- this, enabling people to develop the emotional plenty that smart, progressive companies can ready organisations turbo-charge their digital balance they need to perform under stress, do to future-proof their business. At Pinnacle Find out more: offerings. For example, online retail grew at 1% and we team this with 1-2-1 business coaching we’re already working with some of them to 07624 499 511 | 0207 060 4375 each year for 20 years - and then leaped by 8% for senior leaders as well as creating bespoke make sure that they’re ready for the brave new in the last few months. leadership group programmes. world - whatever it looks like. [email protected] emerge from the pandemic lockdown, will reap are investing plenty of time and effort into. At the rewards in the future, with greater staff loyalty and heart of the strategy is a carefully devised plan The challenge retention. that recognises a proportion of workers will be apprehensive on many levels; protecting their As businesses assess their performance over they face will be safety – both physically and mentally – is essential. the period of lockdown a significant number retaining the sense have found the working from home model to be The coronavirus epidemic has spawned all successful and are planning to build on it in the manner of new terms – one of which is ‘new of inclusiveness months and years ahead. The challenge they face normal.’ It’s hugely significant for businesses as and belonging that will be retaining the sense of inclusiveness and they evolve to meet a range of new challenges. belonging that being part of a team creates. It will Their approach to ‘Wellness’ will be at the heart of being part of a team require imaginative wellness programmes built all future strategies. around changing work practices. creates Many larger companies actively engage in Wellness audits that seek to identify the effectiveness of their wellbeing programmes - but what is wellness? To many people it’s just another modern buzzword that has spawned an industry around itself. But in basic terms it’s simply an umbrella terms that embraces an individual’s social, emotional, spiritual, environmental, occupational, intellectual, and physical wellbeing. From a business’s perspective the more ticks it can apply to those seven basic principles, the better. The challenge facing many companies during the current Covid19 crisis will be the transition of employees back into the workplace. It’s an issue that the most forward thinking business leaders

20 | Capital International Group Making Wellbeing Work

Responsible for delivering a wellness programme to Capital International’s 150+ employees, Luke Adebiyi is a firm believer that real impact can only be achieved through a holistic and non-stop approach to workplace wellbeing. Zeroing in on five key aspects of wellness, Luke now shares his insight into the dos and don’ts of wellbeing strategies and what makes investment in this area so worthwhile.

formanc Physical Wellbeing: Per e to day appreciation that matters most. The The global pandemic has pushed health appreciation badge system we use at Capital up the rankings on our priority lists with works very well. Staff can award badges to many taking a step back from the daily their colleagues online. It’s quick, easy overload and coming to realise what’s and offers a little more tangibility. truly important. Promoting and Engaging Environment: facilitating healthy habits should be Employees need to feel they have at the forefront of any wellbeing Physical Engaging programme. According to Wellbeing Environment a purpose. We all seek meaning insurance company Alfac, 61% in our lives, and so giving people of employees say they have a good enough reason to

made healthier lifestyle choices E get out of bed and come to n

as a result of their company’s g work each day can make for a a

programme. All firms can (and g more productive and satisfied

e workforce. But how? At Capital,

should) have a go. It doesn’t m

have to be complicated or break e the leadership team deliver

Mental Strong n the bank! Simple things like a talk t weekly virtual updates where staff Wellbeing Relationships from a nutritionist or a lunch-time get to find out what’s happening in walking club can help to inspire other areas of the business. It serves positive changes. R as a reminder that we are all working e s together towards a common goal and il Mental Wellbeing: ie Appreciation you gain a better understanding of how nc The latest corporate fad? Certainly not. With e your role fits in as part of the bigger picture. 1 in 4 British workers affected by conditions like anxiety, depression and stress every Strong Relationships: year, mental health will at some point impact Not everyone is going to get a long – that’s Appreciation: every organisation. Despite these sobering just life. Organisations can however nudge statistics, many companies treat their mental Never underestimate the power of appreciation; employees in the right direction by giving them health initiatives as a tick-box exercise, paying it can have a major influence on behaviour and, the chance to get to know one another and to lip service to the issue rather than taking any according to the Harvard Business Review, better understand what makes their colleagues practical action to support employees. Mental doesn’t even have to come from humans. At tick. Collaboration and teamwork are essential health carries a stigma. It’s a cultural issue a New York hospital, the installation of robots in most roles, so it of course pays to build and change needs to come from the top. If which thanked medical workers each time teams that gel. Increased loyalty to colleagues an example of openness and approachability they washed their hands resulted in a nine-fold can also result in increased loyalty to the is set by those in the most senior positions, increase in hand-washing rates over a four- organisation, making staff retention another employees will hopefully feel more comfortable week period. Typically, organisations regard potential benefit. It’s a tight-knit community at in sharing their concerns, safe in the formal recognition as the best approach. Big Capital but that may not be the case if it weren’t knowledge that the support is there should cash prizes and glitzy presentations — they’re for initiatives like our virtual staffrooms, daily they need it. great to have, but it’s undoubtedly the day check-ins and social events.

In volatile market conditions it’s important to understand how your portfolio is positioned.

Capital International Group can provide advisers and trustees with a portfolio review to assess: Asset allocation Investment selection High risk exposure Cost analysis Please get in touch if you would like further details: [email protected]

Our portfolio review service does not constitute ﬁnancial advice. Capital International Limited and Capital Treasury Services Limited are member companies of the Capital International Group, and are licensed by the Isle of Man Financial Services Authority. Capital International Limited is a member of the London Stock Exchange. For further information visit capital-iom.com

| 21 Expert comment from leading fi gures within the business community, on a variety of topical issues across a range of sectors.

THE SEVEN PRINCIPLES OF INVESTING THROUGH VOLATILE TIMES With the global economy currently in the midst of a crisis following the rapid spread of coronavirus, Quilter International has produced a guide for investors to use when investing through volatile times.

formulate your plan and ensure it stays on track 6. Invest for the long-term is with a professional fi nancial adviser. They will Many people believe that knowing when to talk to you about what you want to achieve for buy and when to sell is the secret of successful you and your family, your current situation, and investing. The truth is that no one knows with your attitude to risk versus potential rewards. As certainty when markets will rise or fall. Trying to well as tailoring a plan specifi cally to you, they time the market is not only stressful, it is very can monitor its progress and recommend ways seldom successful. It‘s far better to use time to keep it on course. to your advantage. The sooner you can start 3. Invest as soon as possible investing, and the longer you can invest, the more likely you are to have the potential for The earlier you invest the better. The magic healthy returns and achieve your fi nancial goals, of compounding allows investors to generate conomies worldwide have been heavily regardless of short-term blips. impacted by the range of measures wealth over time, and requires only two things: Edesigned to stem the spread of Covid-19. the reinvestment of earnings and time. The 7. Stay invested While a relaxation in some lockdown measures diff erence of just a few years can make a When markets are volatile, it is often tempting to over the past few weeks signals that we may be massive diff erence to your end result. exit the market or switch to cash in an attempt entering a new phase of the pandemic, there 4. Don’t just invest in cash to reduce further expected losses. However, it is likely to be volatility in the markets for some is impossible to time these movements correctly When markets are volatile it’s a big temptation time to come. Quilter’s guide features seven as no-one has a crystal ball to predict future to put all your investments in the relative safety principles that investors should consider when movement, so being out of the market for just of cash. It may seem like a safe bet. However, markets are in turmoil in order to keep their a few days can have a devastating eff ect on at just 2.5% infl ation, an investor would lose heads when others are losing theirs. returns. Make a plan, stick to it, and don’t try to nearly half of their purchasing power over 25 time the market. 1. Get advice years. Every investor does need at least some Every single investor’s needs are diff erent and, part of their funds in liquid investments in case Karen Blatchford, head of international product while the points below are good general tips, of an emergency, but low risk usually leads and marketing at Quilter, commented:“It’s there’s no substitute for a plan that’s tailored to lower returns. For anyone with longer term natural at these times for some investors to specifi cally for you. The role of a fi nancial adviser investment plans, it needs to be supplemented get concerned, which only serves to make the is to get to know you and your attitude to risk with investments in other asset classes that off er situation even less predictable. The truth is that versus reward; and then to navigate you through better capital growth potential and beat the share prices invariably rise and fall but, for the your investment journey. What’s more, in turbulent perils of infl ation. long-term investor, this shouldn’t need to be times, advice helps you take the emotion out of the primary concern. A fi nancial adviser plays a 5. Diversify your investments investing and provides an objective view. huge part in helping their client make the right When markets are fl uctuating wildly, it’s all decisions at the right time and warding them 2. Make an investment plan and stick to it too easy to worry about the performance of against any knee-jerk reactions.” It is one thing to have a target, but a sound certain investments while forgetting about the fi nancial plan can be the diff erence between bigger picture. Similarly, when one asset class is simply hoping for the best and actually achieving performing poorly, others may be fl ourishing. A your goals. It helps you to stay focused on your diversifi ed portfolio including a range of diff erent long-term aims without being distracted by assets can help to iron out the ups and downs short-term market changes. The best way to and avoid exposing your portfolio to undue risk.

22 | INVESTOR’S Expert comment from leading fi gures within the business community, on a variety of topical issues across a range of sectors. DIARYBY PETER SHARKEY THE SEVEN PRINCIPLES OF Ignoring infl ation would be INVESTING THROUGH foolish in the extreme Ever since quantitative easing (QE) emerged as a convenient, central bank instrument with VOLATILE TIMES which to address sudden economic upheaval in the wake of the 2007-08 fi nancial crash, infl ation has loomed in the shadows, a sinister, though largely undisturbed threat. With the global economy currently in the midst of a crisis following the rapid spread of coronavirus, Quilter International has produced a dozen years ago, banks that had chased unsustainable returns caught a IMPACT ON SAVINGS OF A 2% RISE IN INFLATION guide for investors to use when investing through volatile times. A particularly nasty cold; in some cases, Savings Return (pa) Income (pa) Infl ation (pa) Lasts (Years) the impact was fatal. Immediately, they pulled formulate your plan and ensure it stays on track 6. Invest for the long-term in their horns and, almost overnight, stopped £200,000 3.5% £15,000 2% 15 years is with a professional fi nancial adviser. They will Many people believe that knowing when to lending, giving them time to calculate the extent 3.5% £15,000 4% 13 years talk to you about what you want to achieve for buy and when to sell is the secret of successful of their liabilities. you and your family, your current situation, and investing. The truth is that no one knows with Lehman Brothers and Northern Rock proved 2% £15,000 4% 12 years your attitude to risk versus potential rewards. As certainty when markets will rise or fall. Trying to high-profi le casualties, but the sector’s collective well as tailoring a plan specifi cally to you, they time the market is not only stressful, it is very reluctance to lend sucked liquidity from markets, emerge in 2008; in eff ect, today’s central should refl ect your attitude towards risk, is can monitor its progress and recommend ways seldom successful. It‘s far better to use time prompting central banks to fi re up the printing bank-controlled printing presses are bankrolling complete. to keep it on course. to your advantage. The sooner you can start presses and introduce QE. With their freshly- budget defi cits across the world to the tune of £7 investing, and the longer you can invest, the There’s little merit in basing an investment 3. Invest as soon as possible minted banknotes, central banks fl ooded trillion. The problem, according to economists, more likely you are to have the potential for strategy on a single future possibility; there’s The earlier you invest the better. The magic markets with cash and hoovered up billions of is this fresh money supply will, at some point, healthy returns and achieve your fi nancial goals, so many to consider, from the personal (health, of compounding allows investors to generate merge with consumer spending (and we know conomies worldwide have been heavily regardless of short-term blips. pounds worth of assets. ambitions, a changing attitude to risk etc) to impacted by the range of measures wealth over time, and requires only two things: there is already huge pent-up demand for goods Ordinarily, infl ation would be aroused by such that over which we have no control (market designed to stem the spread of Covid-19. the reinvestment of earnings and time. The 7. Stay invested which is steadily driving prices up), the result of E action, but it never established a serious enough fl uctuations, political developments, infl ation While a relaxation in some lockdown measures diff erence of just a few years can make a When markets are volatile, it is often tempting to which will be rising infl ation. foothold to cause lasting damage; you could etc). Better to conclude that as investment over the past few weeks signals that we may be massive diff erence to your end result. exit the market or switch to cash in an attempt hear audible sighs of relief in central bank As the above example and economists’ comprises some form of risk, avoid doing entering a new phase of the pandemic, there to reduce further expected losses. However, it 4. Don’t just invest in cash boardrooms the world over. understandable concerns suggest, ignoring anything stupid or expecting ridiculously high is likely to be volatility in the markets for some is impossible to time these movements correctly When markets are volatile it’s a big temptation infl ation would be foolish in the extreme, returns, take account of the risk, then go off time to come. Quilter’s guide features seven as no-one has a crystal ball to predict future Yet just because infl ation failed to raise its ugly to put all your investments in the relative safety especially for longer-term investors. trekking around South America, or settle down principles that investors should consider when movement, so being out of the market for just head when QE was last used as the central of cash. It may seem like a safe bet. However, to write your novel. markets are in turmoil in order to keep their a few days can have a devastating eff ect on banks’ economic tool of choice doesn’t mean to Though I didn’t have a specifi c infl ationary at just 2.5% infl ation, an investor would lose heads when others are losing theirs. returns. Make a plan, stick to it, and don’t try to say that we should no longer consider it a threat. threat in mind, a few years ago, I read Investing One of the risks, which I suspect could become nearly half of their purchasing power over 25 time the market. Demystifi ed by Lars Kroijer, about which I’ve increasingly evident, is infl ation. The fi scal 1. Get advice years. Every investor does need at least some We’re told (rightly) that infl ation can have a written here before. stimulus provided by central banks, coupled with part of their funds in liquid investments in case Karen Blatchford, head of international product corrosive eff ect upon our savings, but how does Every single investor’s needs are diff erent and, a forecast increase in consumer spending could while the points below are good general tips, of an emergency, but low risk usually leads and marketing at Quilter, commented:“It’s this translate into a real life situation? Kroijer claims, rightly, I believe, that the trigger a prolonged period of infl ation. It’s for this there’s no substitute for a plan that’s tailored to lower returns. For anyone with longer term natural at these times for some investors to overwhelming majority of investors do not The chart below provides an example where reason that when creating my own version of specifi cally for you. The role of a fi nancial adviser investment plans, it needs to be supplemented get concerned, which only serves to make the possess any form of investment ‘edge’, ie just a marginal increase in infl ation reduces the Kroijer’s rational portfolio, my minimal risk asset is to get to know you and your attitude to risk with investments in other asset classes that off er situation even less predictable. The truth is that information or technique that would enable period of time a reasonably-sized savings pot was sterling-denominated, index-linked gilts. versus reward; and then to navigate you through better capital growth potential and beat the share prices invariably rise and fall but, for the them to consistently beat the market. To counter lasts by three years. your investment journey. What’s more, in turbulent perils of infl ation. long-term investor, this shouldn’t need to be this, he says, investors should create a ‘rational Bonds issued by the UK Treasury are considered the primary concern. A fi nancial adviser plays a times, advice helps you take the emotion out of Someone with £200,000 of savings drawing portfolio’, at the heart of which should be minimal ‘gilt-edged’ (hence ‘gilts’) because the UK has 5. Diversify your investments huge part in helping their client make the right investing and provides an objective view. an annual income of £15,000 could expect their risk assets, such as highly-rated government never defaulted on a debt. I expect that proud When markets are fl uctuating wildly, it’s all decisions at the right time and warding them money to last 15 years, assuming a 3.5% annual bonds, ideally available in the base currency record to continue. The index-linked element 2. Make an investment plan and stick to it too easy to worry about the performance of against any knee-jerk reactions.” return and infl ation remaining at a benign 2% of your other investments. Combine this with a provides additional security. But, you might ask, It is one thing to have a target, but a sound certain investments while forgetting about the a year. If, however, infl ation jumped by 2% and world equity index tracker and you’re 90% of the isn’t this a boring form of investment? Perhaps, fi nancial plan can be the diff erence between bigger picture. Similarly, when one asset class is returns fell by just 1.5%, a three-year income gap way there. but over the past fi ve years, the index-linked simply hoping for the best and actually achieving performing poorly, others may be fl ourishing. A appears as the savings last just 12 years. gilts, bought as an iShares’ exchange traded your goals. It helps you to stay focused on your diversifi ed portfolio including a range of diff erent Kroijer later suggests adding corporate bonds fund (ETF) has delivered annualised returns of long-term aims without being distracted by assets can help to iron out the ups and downs Many economists believe that ‘pandemic QE’ and some possibly additional government 7.81%. I’m happy with that. short-term market changes. The best way to and avoid exposing your portfolio to undue risk. is a completely diff erent beast to that we saw bonds, but that’s it: the rational portfolio, which

| 23 PARTNERING FOR BETTER BUSINESS CONTINUITY Not many leadership teams will have previously experienced the levels of business disruption we are currently seeing due to the measures implemented to stem the spread of COVID-19.

he vast majority of businesses have been It’s also likely that our working environment has reviewing their operational plans and now changed forever. This means there are new Treshaping their ‘ways of working’ in order challenges and new opportunities to be explored to futureproof their operations in a robust but agile across every element of your business and supply manner. Now, as we embrace “the new normal”, this chains. is a time for us all to acknowledge the disruption this pandemic has caused and more importantly ensure that we are planning for the future. Adapting to fl exible working As we have recently seen, many businesses can Business leaders need to interrogate their business implement their continuity plans and ringfence continuity plans and assess the market. How Scott Bradley, Manx Telecom’s themselves and their employees in a reasonable has it shifted and what potential new shifts could Head of Corporate Sales, refl ects timeframe. Most organisations I have spoken to materialise? How can you adapt both operationally and commercially as you adjust to new ways of working on how developing constructive have handled this well but also admit that they were that support the needs of your own customers – partnerships can help businesses reactive, and suspect their current situation is not as effi cient nor eff ective as it could, or should, be. potentially leading to competitive advantage? become more resilient and cope with diff erent ways of working in At Manx Telecom, we believe true ‘continuity’ comes When it comes to fl exible working, there are fi ve key the future from the strength of partner-built plans and the points to consider: vigorous testing of them. It won’t help having a sound Culture plan for yourself if your suppliers and partners are • ill-prepared and can’t function. Scenario identifi cation • Physical Environment and stress testing is critical: after all, if plans are not • Technology tested regularly with partners they are just theory. Security & Compliance That’s why we place particular emphasis on joint • planning opportunities. • People Manx Telecom has signifi cantly evolved its service Of these, the most essential is culture. Does your portfolio over the past year to support the offi ce of organisation, or can your organisation, truly support the future. Businesses of any size can now operate your workforce away from the offi ce and how remotely using any device, at any time and from any adaptable are you in making this happen? Having the location in a unifi ed manner. COVID-19 has, however, right culture in place is the bedrock for making this brought this forward earlier for a lot of businesses. new way of working a success.

24 | The physical environment is another key same, such as passwords, integrity of staff and is changing faster than ever and we must priority as the safety and wellbeing of your being responsible, but there are many ways of continue innovating. enhancing your physical infrastructure too in people is paramount. You should conduct a Who are your strategic partners? Identify those order to protect your remote workers. simple display screen equipment assessment that your business can’t do without. which incorporates desk space, seating On the people front, getting used to working What are their continuity plans and do they arrangements and levels of noise or distraction. from home isn’t always easy for employee match up to your needs? How safe and secure Suitable devices to work from and the ability to or manager. Remote working has proven to are these partners? Does their support meet collaborate with colleagues and customers alike be more productive over the years for many your needs? are also essential. organisations, but employees still need to What new services, products and consumer Technology, in essence, is the enabler: without remain motivated, valued and supported. We groups have emerged? Have you identiﬁ ed it, we simply can’t operate. There are many must stay in touch with our people regularly, them, and can you adjust your o ering to options available ranging from virtualisation and daily if necessary. capitalise on this “new reality”? cloud technologies to simple telephony disaster recovery plans. Removing the need and How can you more eff ectively organise your Reassessing business strategy reliance of physically accessing and maintaining business? What have you learned from the past your IT infrastructure on your own premises The change we are seeing take place in few months? Do new ways of working create is a leap of faith but one which provides your working environments is massive and has e ciencies and increase productivity? huge implications. Without reviewing business business with more options in the event of a What eventualities do you need to plan for? Will strategy at this juncture, we risk becoming disaster. Working with partners, you can reduce we ever return to the old normal? Do we complacent and failing to capitalise on more the risks to your business and remain one step want to? How do we streamline our business effi cient ways of working. So there are a ahead. processes to cope with constant change? number of questions businesses need to ask Just because we were all in a crisis and themselves: These are unclear and stressful times but working diff erently does not lessen the need partnering with a business that can provide How do you position your business for for data security and compliance – it may sound advice and transparent learnings from recovery? Consider people, process and even highlight some vulnerabilities you will its own experience can add signifi cant value to technology along with location. need to tackle. Maintaining the integrity of your continuity plans. This is where the power of your data is something that needs a robust How do you position yourself for competitive a partner-built and continually tested business approach. The basic principles remain the advantage and remain relevant? The world continuity plan can really make a diff erence.

If you’re interested in learning more about business continuity partnerships with Manx Telecom please contact our team at [email protected] or call 636 770. We are helping businesses of all sizes overcome their challenges by adopting robust plans that promote fl exible and agile working in a secure way.

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| 25 2019 THE ISLE OF MAN M&A YEAR FOR THE SOCIAL GOOD IN REVIEW LET’S CHAT ABOUT THE ‘S’ IN ESG INVESTING PART 2 – EMERGING TRENDS Since the outbreak of COVID-19, we have developed a greater awareness of society and protecting the vulnerable. We’re now thinking about and thanking the people who look after us. We’re spending more time at home with our families and determining what is important to In this, the second of a two-part series, Garry Manley, a partner in us. And as lockdown starts to slowly ease and we consider the ‘new normal’, these themes Appleby’s Isle of Man offi ce, considers certain trends from local mergers will become increasingly important for conscientious investors. In this article, we explore the and acquisitions (M&A) deals in 2019. ‘social’ element in environmental, social and governance (ESG) investing and think about companies that have the interests of people at their heart… A Standout Year for Foreign Investment 2. Data Protection • Post-completion: Does the buyer need to 2019 was a busy year for Isle of Man corporate The Isle of Man implemented legislation in May update the target’s privacy notices/data transactions, with 64% more local M&A deals in 2018 that broadly follows the EU General Data processing agreements or register with the the fi rst half of 2019 compared with the second Protection Regulation (GDPR). Information Commissioner? Business leaders have First off, treat employees and Cyber security is essential to keep customers appropriately us safe half of 2018. Although one of the main objectives of the 3. W&I Insurance to be aware that social Last month we looked at what this means for GDPR was to protect EU citizens from having Warranty and indemnity (W&I) insurance, which factors are not fluffy Although no longer making the headlines, Working from home is an experiment that will the Isle of Man. This month, we will focus on their personal data exploited by the FAANGs provides cover for warranty claims in connection it wasn’t that long ago when accusations probably continue beyond the lockdown, but the trends that emerged from local M&A deals (Facebook, Amazon, Apple, Netfl ix and Google), with M&A transactions, has become increasingly and irrelevant – they of senior politicians bullying employees or our cyber-security is weaker at home than in it is so broadly drafted that – as readers will no in 2019. This is essential reading for company popular in the last 10-15 years. have a massive impact #metoo reports highlighted how employees the office and hackers know it. Further, the shareholders, directors, senior business leaders doubt be aware – it aff ects most areas of 21st It can be attractive for a number of reasons. are treated in the corporate world. Mildly cynical use of private data to tamper with and entrepreneurs. century life. on the economic First, the buyer might have concerns about the provocative behaviour or language is no democracy isn’t acceptable, such as the Corporate acquisitions are no exception. Emerging Trends seller’s fi nancial standing and prefer to have success of companies. longer tolerated, and organisations need to case of Cambridge Analytica - the political Until recently, data protection issues were not recourse against a creditworthy insurer. In have the culture, policies and procedures consulting firm that was found guilty of the Isle of Man M&A deals involve many legal high on the list of priorities when structuring this sense, a W&I policy is an alternative to a in place to ensure that harassment - and misappropriation of Facebook data for issues, including how to structure the deal, how M&A transactions. The GDPR, with its eye- traditional escrow or holdback arrangement. bullying – are prevented in the workplace. exploitation in political campaigning. to calculate what the buyer pays at completion, catching penalties, signifi cantly changed this, how to protect the buyer if it doesn’t get what it Secondly, if the seller will stay involved in a and a recent survey revealed that more than half And so, another big ‘S’ factor for ESG investors management capacity after completion, the paid for and how to limit the seller’s liability. of European M&A practitioners had seen a deal Social diversity positively impacts buyer will be keen not to harm its relationship is cyber security - keeping citizens safe online. There is not enough space to consider all of aborted because of data protection concerns. with the seller. Being able to sue a third-party business success People’s data is valuable and the companies these topics here. However, having advised The risk was highlighted last summer, when insurer can address this tension. Business leaders have to be aware that that offer solutions around how to protect it are on almost 90% of deals by value in the fi rst hotel chain Marriott announced that it was to Finally , buy-side W&I insurance can reduce social factors are not fluffy and irrelevant socially interesting and spending in this area is half of 2019, Appleby is well placed to identify be fi ned £99 million for a cyber-attack on its the seller’s post-closing exposure, which can – they have a massive impact on the bound to increase. emerging trends in the local M&A market. We subsidiary company, Starwood. The fi ne was make a bid more attractive in a competitive discuss three of them below. particularly signifi cant because the data breach economic success of companies. situation. 1. Economic Substance started before Marriott owned Starwood. The pandemic has seen the more diverse The importance of quality education Most of the Isle of Man M&A deals that Appleby Data protection laws aff ect M&A deals in and inclusive businesses thinking how beyond home schooling As most readers will be aware, new legislation advised on in the fi rst half of 2019, and almost so many ways that there is no substitute for was introduced at the start of 2019 requiring all of the higher value deals, involved a buy- they can help and support different The fourth UN 17 Development is ‘quality speaking to an experienced legal professional. certain companies to have “economic substance” side W&I policy. groups of people. These firms are more education’; for example, all girls and boys on the Isle of Man. This legislation is pervasive However, key issues to consider include: likely to make smart and determined complete free equitable primary and and aff ects transaction structuring considerations, • Confi dentiality agreement: What data Practical Signifi cance decisions in their response to COVID-19 secondary education by 2030. And while lots as well as several key areas of a sale agreement. protection obligations should the seller Practically speaking, the owners of any Isle and are more likely to innovate and of us hope home schooling and education Our buy-side mandates in 2019 highlighted that impose on the buyer? of Man business can take a few steps now to anticipate shifts in consumer needs technology - or ‘edtech’ – will be short term, many company owners struggle to classify their • Due diligence (seller considerations): What make any eventual exit as smooth as possible. and consumption behaviours and gain For more information about ESG some of the learning facilities being developed companies under the substance rules or believe personal data will the seller disclose as part First, they should obtain legal advice on the competitive advantage. investment, contact Richard Stanley will be in demand longer term. that their companies are out-of-scope when of the sale process? Does it have consent to economic substance rules before starting the Last year Larry Fink, the CEO of BlackRock, closer analysis shows this not to be the case. share that data, and does it need to inform the sale process. on [email protected] This often results from accepting a classifi cation data subject? Is it necessary (or even possible) wrote to his investee businesses outlining Secondly, if the business controls or processes or +44 1624 690 100 How to invest in these social themes? from an advisor with no legal qualifi cations. to anonymise or aggregate personal data? BlackRock’s policy on diversity, saying personal data they should consider whether Sellers should also ensure that any data room they would change their hiring and If you’re interested in investing in the future Flawed or incomplete responses to queries it needs to register with the Information canaccordgenuity.com/ provides an adequate level of data security. of our society, then taking a closer look about the substance rules are likely to result Commissioner and whether to extend its wealth-management-uk compensation structure to ensure that in in enhanced due diligence, which can delay • Due diligence (buyer considerations): Does privacy notice to permit the transfer of personal five years’ time the firm “is not just a bunch at the ‘S’ in ESG investing is a good place the transaction timetable. In addition, if a buyer the target company comply with data data to a potential buyer. This could avoid of white men”. And in ‘The Competitive to start. At Canaccord Genuity Wealth disagrees with the seller’s own analysis, it is protection laws? Are its data protection the need to approach data subjects for Advantage of Racial Equality’ report, FSG, Management, we can provide access to a likely to seek to allocate any associated risk to policies fi t for purpose? And how should consent during the negotiations, which can be a global social impact consulting firm, wide range of funds offering exposure to the seller in the sale agreement. the sale agreement address any non- challenging for a number of reasons. found that companies find new sources cyber security, positive change in education compliance? To avoid potentially costly disputes, buyers and of revenue and greater profitability by or firms that treat employees fairly through sellers should obtain legal advice on the impact • Signing/completion: What information/ This publication is for general guidance only and does not Investment involves risk. The value of investments and the more adequately meeting the needs of sound diversity policies or good employee income from them can go down as well as up and you may not of the substance rules in the early stages of an notifi cations need to be provided to data constitute defi nitive advice get back the amount originally invested. employees and customers of colour. benefits programmes. M&A deal. subjects at signing/completion? © Appleby Global Group Services Limited 2020. 26 | FOR THE SOCIAL GOOD LET’S CHAT ABOUT THE ‘S’ IN ESG INVESTING

Since the outbreak of COVID-19, we have developed a greater awareness of society and protecting the vulnerable. We’re now thinking about and thanking the people who look after us. We’re spending more time at home with our families and determining what is important to us. And as lockdown starts to slowly ease and we consider the ‘new normal’, these themes will become increasingly important for conscientious investors. In this article, we explore the ‘social’ element in environmental, social and governance (ESG) investing and think about companies that have the interests of people at their heart…

Business leaders have First off, treat employees and Cyber security is essential to keep to be aware that social customers appropriately us safe factors are not fluffy Although no longer making the headlines, Working from home is an experiment that will it wasn’t that long ago when accusations probably continue beyond the lockdown, but and irrelevant – they of senior politicians bullying employees or our cyber-security is weaker at home than in have a massive impact #metoo reports highlighted how employees the office and hackers know it. Further, the on the economic are treated in the corporate world. Mildly cynical use of private data to tamper with provocative behaviour or language is no democracy isn’t acceptable, such as the success of companies. longer tolerated, and organisations need to case of Cambridge Analytica - the political have the culture, policies and procedures consulting firm that was found guilty of the in place to ensure that harassment - and misappropriation of Facebook data for bullying – are prevented in the workplace. exploitation in political campaigning. And so, another big ‘S’ factor for ESG investors Social diversity positively impacts is cyber security - keeping citizens safe online. business success People’s data is valuable and the companies Business leaders have to be aware that that offer solutions around how to protect it are social factors are not fluffy and irrelevant socially interesting and spending in this area is – they have a massive impact on the bound to increase. economic success of companies. The pandemic has seen the more diverse The importance of quality education and inclusive businesses thinking how beyond home schooling they can help and support different The fourth UN 17 Development is ‘quality groups of people. These firms are more education’; for example, all girls and boys likely to make smart and determined complete free equitable primary and decisions in their response to COVID-19 secondary education by 2030. And while lots and are more likely to innovate and of us hope home schooling and education anticipate shifts in consumer needs technology - or ‘edtech’ – will be short term, and consumption behaviours and gain For more information about ESG some of the learning facilities being developed competitive advantage. investment, contact Richard Stanley will be in demand longer term. on [email protected] Last year Larry Fink, the CEO of BlackRock, wrote to his investee businesses outlining or +44 1624 690 100 How to invest in these social themes? BlackRock’s policy on diversity, saying canaccordgenuity.com/ they would change their hiring and If you’re interested in investing in the future wealth-management-uk compensation structure to ensure that in of our society, then taking a closer look five years’ time the firm “is not just a bunch at the ‘S’ in ESG investing is a good place of white men”. And in ‘The Competitive to start. At Canaccord Genuity Wealth Advantage of Racial Equality’ report, FSG, Management, we can provide access to a a global social impact consulting firm, wide range of funds offering exposure to found that companies find new sources cyber security, positive change in education of revenue and greater profitability by or firms that treat employees fairly through Investment involves risk. The value of investments and the more adequately meeting the needs of sound diversity policies or good employee income from them can go down as well as up and you may not get back the amount originally invested. employees and customers of colour. benefits programmes.

| 27 IF THERE’S ONE PLACE WHERE THE CUT-AND- THRUST OF SHARP-EDGED CAPITALISM IS CONSTANTLY EVIDENT, IT’S THE UNITED STATES As a university student back in the late 1970s, I spent two wonderfully long summers working on a US summer camp situated on the shores of Schroon Lake in upstate New York, a couple miles from a one-street town called Pottersville. It was my ﬁ rst exposure to the United States and after camp ended, a group of us travelled around this vast country, eventually making our way south to Florida with a single, self-imposed brief: to enjoy ourselves. We succeeded; meanwhile, I fell in love with the States and its often strikingly positive people.

ost-university, I worked for a major It would appear that investors are prepared but this staggering increase in value refl ects US corporation for several years and to continue believing that US technology investors’ belief that online shopping will Pa few years later, with my wife and and communication companies will emerge become the post-lockdown norm and that daughter, lived in San Diego, California, where stronger from the pandemic. Amazon’s cloud computing business will grow just as rapidly. I developed the US arm of my business. We Countering concerns, at least in part, that the gave serious consideration to making the move stock market isn’t the economy, May’s monthly Despite Amazon’s remarkable performance, permanent, but a million other factors ultimately payroll report, which revealed the unexpected Microsoft and Apple are Wall Street’s most resulted in us returning to the UK. addition of 2.5 million jobs, appeared to provide valuable companies. Alphabet, the holding I mention this because I’ve always enjoyed evidence yet that actually, the US economy company for Google, has actually suff ered visiting the States and retain a soft spot for could be destined for a rapid, post-lockdown a rare loss of value since the pandemic’s recovery. Nevertheless, at 13% unemployment emergence, but few would bet against it, or the country and its collective can-do attitude. remains painfully high, while many businesses stablemate Facebook, continuing to surge Perhaps this explains my concern when I watch are not expected to survive the year. forward. news reports knocking the USA. But can the US’s corporate behemoths, Once upon a time, buying shares in US While major, US-based news stories, from boasting impressively robust balance sheets companies was a bureaucratic nightmare. the assassinations of Martin Luther King and comprising mountains of cash, build on their Today, you need only open an online share JFK, to 9-11 and historic space launches have existing competitive advantages and help dealing account and complete the Certifi cate of always demanded attention, never before have themselves to market share at the expense Foreign Status of Benefi cial Owner for United there been so many negative nightly reports of smaller rivals who might be struggling to States Tax Withholding and Reporting form, criticising our biggest ally as we have witnessed survive the global health crisis? The answer is also known as the W-8BEN form (a single page over the past few years. We all know why. surely ‘yes’ because if there’s one place where document) and you’re ready. the cut-and-thrust of sharp-edged capitalism is I was, therefore, particularly amused when, at It’s worth noting that US dividends are subject constantly evident, it’s the United States. the beginning of June, US employment fi gures to a withholding tax, though completion of revealed that the number of people in work had Since the middle of February, ie before we the W-8BEN mitigates the impact to a degree. leapt by an astonishing 2.5 million in the space became increasingly reliant on home delivery, Amazon shares do not currently pay a dividend, of a month. Meanwhile, the US stock market Zoom-based get-togethers and home working but considering the company’s share price has was, to paraphrase the President, behaving like – with everything that entails – Amazon’s stock soared by 36% in the past 12 months, most a rocket. These revelations left the naysayers market value has risen by more than $150 investors won’t care should that rate of growth nonplussed –at least for one night anyway. billion. The fi gure is almost incomprehensible, continue. Why is this happening? Clearly, the heavyweight technology stocks Ramsey Crookall oﬀ er investors access to a range of international investment that drove Wall Street higher in recent years and share dealing opportunities. For more details, contact Ramsey Crookall on are again fuelling a surge which, at the time 01624 623884 or visit www.ramseycrookall.com of writing, has resulted in the S&P 500 index reaching its highest point since February. At the same time, the Nasdaq composite index, home to some of America’s major technology players, has recorded a rise of more than 9% so far this year. In 2015, the combined market value of Microsoft, Apple, Amazon, Alphabet and Facebook accounted for around 12% of the S&P 500; today, their collective worth accounts for For details of Ramsey Crookall’s investment management services, contact their Douglas more than a fi fth of the same index. oﬃ ce on 01624 623884 or visit their website: www.ramseycrookall.com

28 | Looking at the people who keep the wheels of commerce turning on the Island; IF THERE’S ONE PLACE WHERE THE CUT-AND- features, profi les, achievements and stories with a human dimension. THRUST OF SHARP-EDGED CAPITALISM IS CONSTANTLY EVIDENT, IT’S THE UNITED STATES ONLINE BETTING PIONEER CREATES ANOTHER As a university student back in the late 1970s, I spent two wonderfully long summers working on a US summer camp situated on the shores of Schroon Lake in upstate New York, a couple miles from a one-street town FIRST WITH LIVE VIRTUAL RACING PRODUCTS called Pottersville. It was my ﬁ rst exposure to the United States and after camp ended, a group of us travelled around this vast country, eventually making our way south to Florida with a single, self-imposed brief: to enjoy Betinternet founder Vincent Caldwell behind Virtual Live Racing’s regulated digital ourselves. We succeeded; meanwhile, I fell in love with the States and its often strikingly positive people. tote betting products for USA

new concept in live virtual racing ost-university, I worked for a major It would appear that investors are prepared but this staggering increase in value refl ects products has been created which US corporation for several years and to continue believing that US technology investors’ belief that online shopping will features fully rendered replicas of real a few years later, with my wife and and communication companies will emerge become the post-lockdown norm and that A P tracks, stunning graphics, and results based on daughter, lived in San Diego, California, where stronger from the pandemic. Amazon’s cloud computing business will grow historical race data in partnership with leading I developed the US arm of my business. We just as rapidly. Countering concerns, at least in part, that the American racetrack venues. gave serious consideration to making the move stock market isn’t the economy, May’s monthly Despite Amazon’s remarkable performance, Virtual Live Racing is a global fi rst because permanent, but a million other factors ultimately payroll report, which revealed the unexpected Microsoft and Apple are Wall Street’s most resulted in us returning to the UK. addition of 2.5 million jobs, appeared to provide valuable companies. Alphabet, the holding races are based on anonymised and encrypted data from real-life thoroughbred, harness I mention this because I’ve always enjoyed evidence yet that actually, the US economy company for Google, has actually suff ered and greyhound races – a huge leap forward visiting the States and retain a soft spot for could be destined for a rapid, post-lockdown a rare loss of value since the pandemic’s recovery. Nevertheless, at 13% unemployment emergence, but few would bet against it, or compared to RNG (Random Number Generator) the country and its collective can-do attitude. remains painfully high, while many businesses stablemate Facebook, continuing to surge products that are currently off ered by legacy Perhaps this explains my concern when I watch are not expected to survive the year. forward. market suppliers. news reports knocking the USA. But can the US’s corporate behemoths, Once upon a time, buying shares in US While major, US-based news stories, from boasting impressively robust balance sheets companies was a bureaucratic nightmare. the assassinations of Martin Luther King and comprising mountains of cash, build on their Today, you need only open an online share JFK, to 9-11 and historic space launches have existing competitive advantages and help dealing account and complete the Certifi cate of always demanded attention, never before have themselves to market share at the expense Foreign Status of Benefi cial Owner for United to some truly historic milestones for the Wood, Chief Software Architect. Dave, of Island there been so many negative nightly reports of smaller rivals who might be struggling to States Tax Withholding and Reporting form, industry. Most notably these include a State Broadcasting Media Limited, was the co-founder criticising our biggest ally as we have witnessed survive the global health crisis? The answer is also known as the W-8BEN form (a single page of Oregon Legislature Senate Bill, which of Red Vision, which created the world’s fi rst over the past few years. We all know why. surely ‘yes’ because if there’s one place where document) and you’re ready. made history by granting regulatory approval major virtual racing products. Those products the cut-and-thrust of sharp-edged capitalism is I was, therefore, particularly amused when, at It’s worth noting that US dividends are subject for virtual racing products. currently generate more than $8billion gross constantly evident, it’s the United States. gaming revenue annually. He led his team to the beginning of June, US employment fi gures to a withholding tax, though completion of A number of tracks are live including Derby Lane Caldwell told B365: “While virtual racing win two BAFTA and two Royal Television Society revealed that the number of people in work had Since the middle of February, ie before we the W-8BEN mitigates the impact to a degree. and Tampa Bay Downs in Florida. Five other products operate in over 40 countries and are awards for technical and creative innovation. leapt by an astonishing 2.5 million in the space became increasingly reliant on home delivery, Amazon shares do not currently pay a dividend, tracks are signed and are soon to be launched, very much a mainstream wagering product Dave and his team were twice nominated for of a month. Meanwhile, the US stock market Zoom-based get-togethers and home working but considering the company’s share price has including Hawthorne in Chicago, and Parx in with billions of dollars bet on them each year, Emmy awards in the United States for computer was, to paraphrase the President, behaving like – with everything that entails – Amazon’s stock soared by 36% in the past 12 months, most Philadelphia. The product is available to all we have identifi ed a niche opportunity for a graphics and virtual eff ects. a rocket. These revelations left the naysayers market value has risen by more than $150 investors won’t care should that rate of growth tote systems in the US via distribution through unique product. We’ve developed a real-time nonplussed –at least for one night anyway. billion. The fi gure is almost incomprehensible, continue. Amtote International’s Spectrum betting system rendering engine deployed to deliver horse, Angus, also of Island Broadcasting Media Why is this happening? which is the leading technology tote provider in harness and greyhound racing with high quality Limited, was formerly CTA at Inspired Gaming the USA which enables tracks to accept wagers graphics and animations. Unlike other products, where, following the acquisition of Red Vision, Clearly, the heavyweight technology stocks Ramsey Crookall oﬀ er investors access to a range of international investment and share dealing opportunities. For more details, contact Ramsey Crookall on from players and create a brand new risk-free our technology ensures that a racetrack’s he oversaw their growth to become the leading that drove Wall Street higher in recent years revenue stream. Virtual Live Racing has been intellectual property in the form of historic race developer of online virtual racing products. His 01624 623884 or visit www.ramseycrookall.com are again fuelling a surge which, at the time created by Isle of Man-based company Virtual data is anonymised and encrypted so outcomes role included responsibility for the technical of writing, has resulted in the S&P 500 index Software which has a proven track record of cannot be known prior to the race being run. development and security operations of over reaching its highest point since February. At innovation in digital product development for We believe that Virtual Live Racing products, 90,000 wagering terminals and machines as the same time, the Nasdaq composite index, the pari-mutuel or fi xed odds betting industries. which are built on a pari-mutuel wagering well as substantial server-based wager testing. home to some of America’s major technology Chairman Vincent Caldwell started one of model, have a massive potential because it VLR is represented in the US by Derby Lane players, has recorded a rise of more than 9% so the world’s fi rst online wagering companies allows market access into an existing $11billion and their executive team, and VLR’s Business far this year. (betinternet – licensed in the Isle of Man) which USA pari-mutuel wagering market, and other Development Consultant Joey D Michaels who In 2015, the combined market value of then went on to become the fi rst such company access points into international regulated racing is responsible for building relationships with track Microsoft, Apple, Amazon, Alphabet and to list on the London Stock Exchange. markets valued at $100billion.” owners and online Account Deposit Wagering (ADW) betting operators to drive expansion into Facebook accounted for around 12% of the S&P The launch of VLR is the result of several VLR has a strong executive team with a wealth tracks, casinos, and off -track betting outlets. 500; today, their collective worth accounts for For details of Ramsey Crookall’s investment management services, contact their Douglas years’ hard work by their highly experienced of industry knowledge and experience. Dave more than a fi fth of the same index. oﬃ ce on 01624 623884 or visit their website: www.ramseycrookall.com executive team which, along the way, has led Mousley is Chief Creative Offi cer, and Angus virtualliveracing.com

| 29 Crowe’s Manx Solidarity Fund donation boosts Manx distance runner’s fundraising goal

TO DONATE VISIT: https://www.justgiving.com/fundraising/christian-varley-msr

Crowe Isle of Man chief executive rowe Isle of Man’s donation of £1000 to Crowe Isle of Man chief executive offi cer Phaedra oﬃ cer Phaedra Bird, left, with the Manx Solidarity Fund has helped Manx Bird said: ‘We are all living through extraordinary Manx Solidarity Fund trustee C distance runner Christian Varley to far times, but there are those in our community Jennifer Houghton exceed his £19,000 fundraising goal. experiencing exceptional hardship brought about by COVID-19. We’re therefore pleased to On May 1 the Manx athlete set out to run 19 recognise Manx Solidarity Fund’s eff orts with marathons in 19 days. He achieved his goal, this donation. We’re also delighted to have had covering 500 miles and raising more than another opportunity to lend visibility to Christian’s £100,000 for the coronavirus relief charity. heroic fundraising and sporting activities.’ The Manx Solidarity Fund was set up to provide Manx Solidarity Fund patron, His Excellency practical support to individuals and local Lieutenant Governor Sir Richard Gozney, said: organisations facing diffi culties as a result of the ‘The coronavirus emergency has brought the Covid-19 pandemic. Manx community together in many commendable ‘Manx Marathon Man’ Christian has previously ways and highlighted this island’s generosity of benefi ted from Crowe support after sponsorship spirit. Christian Varley is the very embodiment from the Douglas-based accountancy fi rm of that spirit and I congratulate him on his helped him to compete in the Ironman world outstanding fundraising achievement for the Manx championship in Hawaii in 2018. Solidarity Fund.’

30 | PAUL SPELLER takes a left-fi eld look at the issues of the moment POST VIRUS RAMBLINGS Without wanting to tempt fate, at the time of writing, the Isle of Man has gone a month without a new coronavirus case, the schools are about to re-open and the pubs just have. What follows are the random thoughts going through my mind at this point, thoughts that will probably linger for a while and, hopefully for the most part, will not be proven wrong.

Will I start to remember what day it is? Working from home, this was never a strong point. But previously I at least used to be able to tell it was a weekday because I would take the kids to school. And Tuesdays normally meant trying to remember where I’d left my tie after my last trip to the House of Keys. School is back on, but I’m still not visiting the Keys. On the upside, that means I don’t need a tie. (Or to spend hours watching politicians wriggle around and try to pick their noses without being noticed.) What is this thing called time? You know how we all thought, during lockdown, we were going to complete those projects we’d been putting off for years, because we now had the time? I didn’t do any of them. I suspect most parents with young children at home did not, either. But what I did do is get to spend lots more than usual of that time with my children, make use of the superb learning support they received from I was less proud of the reaction of some others. than taking a pay cut themselves or actually their school, watch lots of episodes of Horrible Some were genuine in their belief that All Lives increasing pay for nurses? Remember how the Histories and grow some potatoes. Matter was a fairer mantra, but hopefully the UK Government didn’t want to provide free The spud calendar is a marker of the island’s explanations, such as, ‘all houses matter, but meals for children over the summer? Remember success. That the aforementioned potatoes are you extinguish the fl ames in the one on fi re fi rst’, how it took a Premiership footballer who had still in the ground and not due to be unearthed may have resonated with some. Others leapt already helped raise millions to force them into for a couple of weeks indicates that lockdown did at the chance to seek validation of views that, a u-turn? Remember how, at the same time, we not last as long as we expected. once upon a time, they may have felt rightly discovered the UK Government had not fulfi lled Hair. Still haven’t cut it. The editor still would were better hidden. its promise to remove the NHS surcharge imposed on migrants who came to work in the rather not use an up to date picture of it. It has been a bit of a wake-up call for all of us. NHS? Peace and quiet? I normally work from home. So I still cross the road to socially distance. It Keep remembering that. it was a shock to the system to have that home might be habit. It might be I don’t like you. It full all the time. But after averaging 23 hours a might be there’s a dog egg in the middle of the The Isle of Man. Let’s be honest, whatever day in the company of my children – the other pavement. You decide. happens in the future, and while never hour spent running, walking or shopping – I forgetting that a number of our population lost Coﬀ ee or pints? You can have either. You can expect the house is going to feel a little empty for their lives, we know that on the whole the Isle of have both. The fact you can now do so in a quite a while. (Well, fi ve weeks.) Man has so far done a pretty darned good job in social setting is pretty marvellous. I imagine terms of fi ghting the virus. We know that the vast There are more racists about than I realised, that for people who live alone, in particular, the majority of the community came together. although some of them don’t even realise it. diff erence must be huge. The Black Lives Matter protest in the Isle of Man Most of us probably always suspected that we That said, pouring a pint of beer out of a milk made me proud to watch. Proud that so many were lucky to live here. We know that now, for carton has had its appeal. people got it and supported it. Proud that they sure. managed to do it while using social distancing. Footballers and nurses. Remember when UK Proud of the organisers who put themselves Ministers tried to make us hate Premiership Editor’s note: Claims I’m hairist are strongly above the parapet. footballers for earning more than nurses, rather refuted.

| 31 WHEELS THAT HEAL People aff ected by leprosy, disability and those displaced by Boko Haram celebrate the arrival of medics and medicines – courtesy of the Isle of Man

mobile health clinic touring communities aff ected by leprosy, disability A and terrorism has been welcomed with open arms. For the fi rst time, residents of the three disadvantaged communities in Nigeria’s Federal Capital Territory Abuja will be able to see a doctor locally and receive medicines free of charge. The life-changing Wheels that Heal project has been made possible by a grant from the government of the Isle of Man and donations from the people of the Isle of Man. It enabled The Leprosy Mission to buy a van and kit it out with ramps, steps, awnings and partitions. Medical equipment has been purchased including thermometers, weighing scales, blood pressure monitors and blood sugar testing devices. The mobile clinic is stocked with dressings for leprosy- related ulcers and a range of medicines. The Leprosy Mission has provided two specialist doctors to staff the mobile clinic. The charity has worked closely with the Nigerian government, which has supplied two nurses and a pharmacist to help. Dr Amanda Essien of The Leprosy Mission with a mother and child in Joanna Nwosu is Nigerian and works for The Leprosy Mission based in the mobile Wheels that Heal clinic Peterborough, Cambridgeshire, as Deputy Head of Programmes. She told B365 : “I have visited these three communities and they are very “A referral to a specialist doctor from a nurse at a primary care post in the disadvantaged in terms of living conditions and access to healthcare. They leprosy village of Yangoji, for example, would result in a costly 40-mile trip are home to people who have been through a huge amount. The displaced into the capital Abuja. So, Wheels that Heal is desperately needed to bring people’s camp has formed in the past fi ve years as a result of Boko Haram doctors to people living in these three communities, which total almost attacks in the North East of Nigeria. The people in all three communities 8,000 people.” have faced enormous challenges, emotionally and physically. Constance Izere, a Programmes Offi cer for The Leprosy Mission Nigeria “Residents of all three communities are very much at risk from ill-health, said: “Villagers are excited to have this mobile clinic in their community. including leprosy, because of overcrowded and basic living conditions. This project, which is one of magnitude as well as being one of its kind, has Healthcare is currently limited to local clinics or primary care posts staff ed been implemented with funds from the Isle of Man. Healthcare is provided by nurses. Medicine is particularly scarce and must be paid for. This is with free of charge to the patients. Everything from the record cards to the drugs the exception of Multidrug therapy, the cure for leprosy, which is provided to the medical supplies is free of charge.” by the World Health Organisation through a partnership with Novartis. Mariam Saidu, a young mother living in the leprosy village of Yangoji, said: “The people living in these communities have very little money. There are “Our parents, our children and our siblings were given treatment and major obstacles in accessing even the most basic healthcare such as the medication. cost of travelling to a clinic. Then there is the added headache of physically getting there for those struggling with a disability. “We are grateful and happy that we brought our kids here. May God reward them.” Federal Capital Territory Abuja is one of the three Nigerian states still under a partial ‘lockdown’ because of coronavirus. As a result the weekly mobile clinic to each of the three communities was temporarily suspended. The Leprosy Mission has since been granted permission from the Nigerian government to continue to provide services during lockdown. It is currently working to secure Personal Protective Equipment for the medical team with a view to the mobile clinics resuming later in June with social distancing measures in place. Joanna added: “It is such unfortunate timing just after the launch of Wheels that Heal but obviously COVID-19 is something the whole world is battling currently. “We have further plans for Wheels that Heal in the next year including mental health counselling and eye care. “We are so grateful to the people of the Isle of Man for allowing us to make Wheels that Heal; villagers queue for the mobile clinic in Yangoji, a such a big change to people’s lives.” leprosy village close to Nigeria’s capital Abuja, on its maiden voyage. Out of the 252 patients examined, four new leprosy cases were diagnosed Chairman of the Trustees of The Leprosy Mission Isle of Man, Paul Halliday, and treated as well as a host of other diseases and conditions. These said: “I never cease to be amazed by the generosity of the Manx people. include malaria, high blood pressure, eye problems and people suﬀ ering “Churches, schools and fellowship groups have all made this wonderful life- from infected leg ulcers as a result of leprosy-caused nerve damage. changing initiative possible. I pray for its continued success.”

32 | WHEELS THAT HEAL FIM CAPITAL’S MARY TAIT NOMINATED FOR PRESTIGIOUS People aff ected by leprosy, disability and those displaced by Boko Haram celebrate the arrival of medics and INVESTMENT medicines – courtesy of the Isle of Man mobile health clinic touring communities aff ected by leprosy, disability WOMAN OF A and terrorism has been welcomed with open arms. For the fi rst time, residents of the three disadvantaged communities in Nigeria’s Federal Capital Territory Abuja will be able to see a doctor locally and receive medicines free of charge. The life-changing Wheels that Heal project has been made possible by a grant from the government of the Isle THE YEAR of Man and donations from the people of the Isle of Man. It enabled The Leprosy Mission to buy a van and kit it out with ramps, steps, awnings and partitions. Medical equipment has been purchased including thermometers, weighing scales, blood pressure monitors and blood sugar testing devices. The mobile clinic is stocked with dressings for leprosy- AWARD related ulcers and a range of medicines. FIM Capital’s Mary Tait (Investment Director) and Sara Collister (Head of The Leprosy Mission has provided two specialist doctors to staff the mobile Off shore Administration) have received nominations in the upcoming clinic. The charity has worked closely with the Nigerian government, which Investment Week ‘Women in Investment’ Awards 2020. Mary has been has supplied two nurses and a pharmacist to help. Dr Amanda Essien of The Leprosy Mission with a mother and child in nominated in the Investment Woman of the Year (small to medium Joanna Nwosu is Nigerian and works for The Leprosy Mission based in the mobile Wheels that Heal clinic Peterborough, Cambridgeshire, as Deputy Head of Programmes. She fi rms) and International Investment Woman of the Year categories, told B365 : “I have visited these three communities and they are very whilst Sara has also been nominated in the Role Model and Team “A referral to a specialist doctor from a nurse at a primary care post in the Mary Tait disadvantaged in terms of living conditions and access to healthcare. They leprosy village of Yangoji, for example, would result in a costly 40-mile trip Leader of the Year categories. are home to people who have been through a huge amount. The displaced into the capital Abuja. So, Wheels that Heal is desperately needed to bring people’s camp has formed in the past fi ve years as a result of Boko Haram he Investment Week ‘Women in Investment’ awards are a signifi cant annual event celebrating the inspiring achievements of doctors to people living in these three communities, which total almost attacks in the North East of Nigeria. The people in all three communities women across all parts of the investment industry and which are due to take place on the 8th of December in London. 8,000 people.” T have faced enormous challenges, emotionally and physically. Mary, who is a key member of the investment management team at FIM Capital, has built up a wealth of experience in the Constance Izere, a Programmes Offi cer for The Leprosy Mission Nigeria “Residents of all three communities are very much at risk from ill-health, investment industry over her career and this has been formally recognised by her attaining Chartered Fellowship of the CISI and said: “Villagers are excited to have this mobile clinic in their community. including leprosy, because of overcrowded and basic living conditions. This project, which is one of magnitude as well as being one of its kind, has Chartered Wealth Manager status, the highest awardable qualifi cation. Healthcare is currently limited to local clinics or primary care posts staff ed been implemented with funds from the Isle of Man. Healthcare is provided Sara (pictured right) has also been nominated having led the development of the Off shore Administration team and brings a wealth by nurses. Medicine is particularly scarce and must be paid for. This is with free of charge to the patients. Everything from the record cards to the drugs of experience to the role having a background in international banking, life insurance and fund administration. the exception of Multidrug therapy, the cure for leprosy, which is provided to the medical supplies is free of charge.” by the World Health Organisation through a partnership with Novartis. CIO Russell Collister told B365 “Mary and Sara’s nomination for these prestigious industry awards is recognition of their Mariam Saidu, a young mother living in the leprosy village of Yangoji, said: “The people living in these communities have very little money. There are unquestionable ability, hard work and dedication and highlights the signifi cant contribution that they have made at FIM Capital. “Our parents, our children and our siblings were given treatment and major obstacles in accessing even the most basic healthcare such as the Their positive approach and success in their roles at FIM, can only serve to act as an inspiration for others looking to enter medication. cost of travelling to a clinic. Then there is the added headache of physically the investment industry.” getting there for those struggling with a disability. “We are grateful and happy that we brought our kids here. May God reward them.” Federal Capital Territory Abuja is one of the three Nigerian states still under CRUSE IS ‘MOVING FORWARD’ WITH SUPPORT OF MANX LOTTERY TRUST a partial ‘lockdown’ because of coronavirus. As a result the weekly mobile clinic to each of the three communities was A project to support bereaved families has received a signifi cant boost with a grant from Manx Lottery temporarily suspended. Trust, as delegated partner of The National Lottery Community Fund. The Leprosy Mission has since been granted permission from the Nigerian ruse Bereavement Care Isle of Man has Support volunteers are drawn from various thoughts and individual ways of coping with government to continue to provide services during lockdown. It is currently been awarded £7,000 for its Moving backgrounds and undergo special training in the changes and/or loss working to secure Personal Protective Equipment for the medical team with Forward initiative, which helps families process of grieving and working with people, • Support families to fi nd ways of remembering a view to the mobile clinics resuming later in June with social distancing C deal with and adjust to signifi cant change in their including those aff ected by sudden death, suicide the person who has died and to encourage measures in place. lives while focusing on the six central needs of and the death of a child. and support children and families to talk Joanna added: “It is such unfortunate timing just after the launch of Wheels grief: reality, pain, remembering, support, new Cruse’s Moving Forward project will aim: openly with each other about the person that Heal but obviously COVID-19 is something the whole world is battling roles and meaning. • Work together with the family to allow them to currently. • To reduce the isolation experienced by many The charity provides confi dential support for bereaved families understand each other’s emotions and grief “We have further plans for Wheels that Heal in the next year including people of all ages and over the last three and understand that, for each family member, • To increase confi dence and resilience mental health counselling and eye care. decades has helped more than 3,500 adults, there are diff erent stages in their healing • Support families to deal with their grief “We are so grateful to the people of the Isle of Man for allowing us to make children and young people in need in the Isle Wheels that Heal; villagers queue for the mobile clinic in Yangoji, a personally and together For more information about Cruse Bereavement such a big change to people’s lives.” of Man. Its aim is to promote the wellbeing of leprosy village close to Nigeria’s capital Abuja, on its maiden voyage. Out bereaved people and allow anyone bereaved to • Help families understand death and what it Care Isle of Man, visit: www.cruseisleofman.org of the 252 patients examined, four new leprosy cases were diagnosed Chairman of the Trustees of The Leprosy Mission Isle of Man, Paul Halliday, understand their grief and cope with their loss, as means to them or email: [email protected] and treated as well as a host of other diseases and conditions. These said: “I never cease to be amazed by the generosity of the Manx people. well as raise public awareness of the impact of • Encourage and support children and families To fi nd out more about the work of the Manx include malaria, high blood pressure, eye problems and people suff ering “Churches, schools and fellowship groups have all made this wonderful life- grief on everyday life. to share and understand the feelings, Lottery Trust visit: www.mlt.org.im from infected leg ulcers as a result of leprosy-caused nerve damage. changing initiative possible. I pray for its continued success.”

| 33 VIRTUAL

By SUE GEE Managing Director, TLC TRAINING

The lockdown has been a learning experience for all of us, and TLC has learned a few valuable lessons along the way. From our start 16 years ago we have been a training and development company, although we also do consultancy work, and that has mostly been about working face-to-face in a training room.

ure, we’ve had computer-based training We looked at various approaches, and tested more common going forward. Organisations from the start - and that’s useful for some a few platforms, and we worked out a few have learned that there is a productivity gain to Stopics - but we’ve always believed that principles that seemed to be valid: be had, that people need less supervision and interaction between delegates and the trainer is • For most topics, the sessions need to be control than they thought, and that maybe there key, to allow as much participation as possible brief are cost savings to be had. Although not so and for everyone to learn from each other’s for everyone, many individuals have found that • Relevance was even more important than experience. working from home suits them really well. normal Over the years we’ve attended a few webinars, Then there are the organisations (many here in • Groups needed to be small enough to allow some with hundreds of attendees, and decided the Isle of Man) that have staff dotted around appropriate levels of participation that this approach left a lot to be desired: the world and the small businesses with a tiny participation (if at all possible) was limited typically • They need to be timed to suit a variety of number of staff , all of whom need training but to text messaging, and most amounted to a schedules, and to avoid late afternoon – the who struggle to access it for want of time or lecture. Again, that’s fi ne in some circumstances, internet seems to go slow! challenges of geography. for example where a lecture is the most suitable We did a few trial runs, and the feedback was I believe that virtual training, delivered in an method with tutorials and wider interaction to really positive, and so we’ve ended up with 17 interactive and participative way, can meet the support it. courses for organisations and their staff , plus a development needs of all these people and their So the question we faced was clear: could suite of topics aimed at helping young people. employers. Certainly, even though we hope to we deliver training over a video conferencing Of course, we’re really pleased that we’ve been see people back in face-to-face training, TLC will platform that would meet our standards, the able to support people during the lockdown, but be adding this particular approach to our toolbox expectations of our customers and the needs of where does this leave the virtual training room going forward. It might not suit every topic or our delegates? I for one was not convinced, but going forward? every person, but it can open up time- and cost- we really wanted to support our clients and their For a start, I believe, and so do a number of other eff ective training to a whole new audience. staff through this time of unprecedented change people who pay attention to this sort of thing, and challenge. that working from home is going to be much

34 | VIRTUAL Who, what, where – a comprehensive appointments section keeping you abreast of all the movements within the business community.

By SUE GEE Managing Director, TLC TRAINING THE LATEST JOBS NEWS FROM THE ISLE OF MAN BUSINESS COMMUNITY

Appointment of new Non-Executive Directors at In joining the Boards John said: “I am delighted to join the Boards of Conister Bank and Manx Financial Group. I hope to use my experience to Conister Bank help support the business to further success in the future.” Conister Bank Limited, the Island’s leading independent bank, has Douglas Grant, Managing Director of Conister Bank Limited, commented: appointed two new Isle of Man based non-executive Directors, Sam “On behalf of everyone at Conister Bank and Manx Financial Group, I Skelton and John Spellman. These appointments have been made to am delighted to welcome Sam and John to our Boards. Both are highly add additional NED experience to the Bank’s board as it continues to regarded in their respective fi elds and I look forward to their valuable innovate its deposit and loan off ering on Island. insights as we continue to expand our operations both on Island and Sam Skelton is joining the Board of further afi eld.” Conister Bank Limited with immediate eff ect bringing with him a wealth of banking and fi nancial experience Jenny Akrigg is promoted to Director at Equiom Tax gained during his 32 year career Services Limited working for the RBS Group both in the U.K. and in the Isle of Man. Equiom, the global professional services provider, has announced Sam is an economics graduate, and the promotion of Jenny Akrigg within the wider RBS Group, Sam held to Director within its tax business, a number of key roles throughout his The lockdown has been a learning experience for all of us, and TLC has learned a few valuable lessons Equiom Tax Services Limited (ETSL). along the way. From our start 16 years ago we have been a training and development company, although career including director for Coutts International Ltd and director and Jenny joined the business from a we also do consultancy work, and that has mostly been about working face-to-face in a training room. chairman for Lombard Isle of Man Ltd. Big Four accountancy fi rm in the Sam Skelton Island in 2017. She has more than In joining the Board Sam said: “It’s ure, we’ve had computer-based training We looked at various approaches, and tested more common going forward. Organisations 11 years’ experience of providing a great privilege to have this opportunity to join a local bank which has from the start - and that’s useful for some a few platforms, and we worked out a few have learned that there is a productivity gain to tax advice to Isle of Man and UK such a long history and fi ne pedigree with a true go-ahead attitude Stopics - but we’ve always believed that principles that seemed to be valid: be had, that people need less supervision and high net worth individuals and underpinned by such great staff and customers. interaction between delegates and the trainer is • For most topics, the sessions need to be control than they thought, and that maybe there companies. She also provides key, to allow as much participation as possible are cost savings to be had. Although not so brief It’s accepted these are very challenging times for us all but I genuinely feel technical support in respect and for everyone to learn from each other’s for everyone, many individuals have found that • Relevance was even more important than Conister Bank has and will continue to make a diff erence in supporting of international developments experience. working from home suits them really well. normal businesses and individuals to get through these diffi culties and I hope in including the Foreign Account Over the years we’ve attended a few webinars, Then there are the organisations (many here in • Groups needed to be small enough to allow some small way to compliment Douglas Grant and his fellow executive Tax Compliance Act (FATCA), the some with hundreds of attendees, and decided the Isle of Man) that have staff dotted around appropriate levels of participation directors in leading the Bank through to a more normal business Common Reporting Standard (CRS) and Economic Substance legislation. that this approach left a lot to be desired: the world and the small businesses with a tiny environment.” Her promotion will see her continue with these responsibilities along with participation (if at all possible) was limited typically • They need to be timed to suit a variety of number of staff , all of whom need training but additional leadership duties and a seat on the ETSL board. to text messaging, and most amounted to a schedules, and to avoid late afternoon – the who struggle to access it for want of time or John Spellman is joining the Boards of lecture. Again, that’s fi ne in some circumstances, internet seems to go slow! challenges of geography. Conister Bank Limited and its parent Managing Director of ETSL, Monica Dixie said: ‘Jenny has a great way for example where a lecture is the most suitable We did a few trial runs, and the feedback was I believe that virtual training, delivered in an company, Manx Financial Group PLC, with with clients and draws upon her experience to deliver cost eff ective and method with tutorials and wider interaction to really positive, and so we’ve ended up with 17 interactive and participative way, can meet the immediate eff ect. commercially viable solutions. She is business savvy, risk aware and has support it. courses for organisations and their staff , plus a extensive technical knowledge, so will add a signifi cant contribution to the development needs of all these people and their During John’s career he gained suite of topics aimed at helping young people. strategic leadership of ETSL. I congratulate Jenny on her promotion and So the question we faced was clear: could employers. Certainly, even though we hope to experience in banking, fund we deliver training over a video conferencing Of course, we’re really pleased that we’ve been see people back in face-to-face training, TLC will look forward to celebrating with the team when we are able to.’ management and accountancy, platform that would meet our standards, the able to support people during the lockdown, but be adding this particular approach to our toolbox specialising in various parts of the Speaking of her promotion, Jenny added: ‘It is exciting to be taking on expectations of our customers and the needs of where does this leave the virtual training room going forward. It might not suit every topic or off shore industry. John has also this new role and a seat on the board of ETSL, now one of the largest our delegates? I for one was not convinced, but going forward? every person, but it can open up time- and cost- worked with, and created, a number providers of tax services in the Isle of Man. The ETSL team are a pleasure we really wanted to support our clients and their For a start, I believe, and so do a number of other eff ective training to a whole new audience. of successful locally based businesses to work with, hardworking, client-focused and, collectively, have signifi cant staff through this time of unprecedented change people who pay attention to this sort of thing, and challenge. that working from home is going to be much and acted as a strategic advisor to the knowledge and experience of a wide range of local and international tax Government, specialising in the fi nance matters. I look forward to supporting the team in growing ETSL’s business sector and foreign direct investment. John Spellman in the future.’

| 35 Sancus (IOM) Limited announces appointment of Chris of discretionary investments in Jersey. He has over 25 years’ experience in fi nancial Corkill as Business Development Manager services, working for global blue-chip Sancus (IOM) Limited*, part of the companies in both London and Jersey, and Sancus BMS Group, the niche asset providing investment solutions to a wide backed alternative lender, has variety of clients around the world. announced the appointment of Chris Andrew (right) now heads up the Corkill as business development private banking team in the Isle manager, joining their offi ce in the Isle of Man, and will be reporting of Man. into David. He has been with Chris will be responsible for Nedbank Private Wealth for 15 years and has a thorough knowledge developing relationships and and understanding of the organisation. With his extensive experience generating business from brokers and of working with high-net-worth individuals and their families, his focus is borrowers throughout the Isle of Man, ensuring clients are provided with the highest level of service at all times. UK and Northern Ireland. Stuart Cummins, chief executive of Nedbank Private Wealth, said: “These He has over 30 years banking experience, most recently as Head of are exciting new roles for David and Andrew. The moves form part of a Corporate and Real Estate fi nance for RBS International (Isle of Man) and recent restructure designed to enhance our client off ering across the Director of Isle of Man Bank Limited. organisation. David will be responsible for all our client-facing teams and Chris is also a member of the IOM Chamber of Commerce Finance and our investment and wealth planning specialists. I know David’s track record Professional Services committee, mentor for IOM Junior achievement and a of successful leadership and business growth across multiple geographies representative on the IOM Shipping Association. will be invaluable in this role.” Chris told B365: “I’m delighted to join such a dynamic business. Although David McFadzean’s new appointment is subject to fi nal regulatory we are all currently facing exceptionally challenging times, I feel there will approval. be even greater demand now for borrowers who off er fl exibility, speed of service and a truly bespoke service. Sancus addresses the practical Charlotte Corlett adds to growing list of Qualiﬁ cations obstacles and challenges often experienced by businesses, developers Browne Craine Audit Manager, Charlotte and entrepreneurs in securing funding quickly, enabling them to focus their Corlett, has now added the Chartered energies on successfully delivering the next project.” Accountant qualifi cation (“ACA”), to her ever- The Sancus BMS Group has provided in excess of £1 billion of funding growing list of qualifi cations. to SMEs and entrepreneurs over the last four years. The business off ers “To become ACA qualifi ed, I applied for the asset backed lending solutions with particular expertise in bridging and Institute of Chartered Accountants of England development fi nance. and Wales’ (“ICAEW”) membership through the Graham Sheward, Managing Director of Sancus (IOM) said: “We are pathways membership route. To do this I was delighted that Chris has joined Sancus in the Isle of Man. He has both deep required to be a Fellow of the ACCA and complete technical knowledge and practical experience of the lending market and an Examination of Experience (“EoE”),” explained he will be a great addition to the team, I look forward to working with him.” Charlotte. “The EoE is a series of questions where Andrew Whelan (CEO, The Sancus Group) added: “The Sancus Group I had to verify my experience and achievements over the last fi ve years as a has a strong focus on recruiting experienced professionals with a full and way of demonstrating I was qualifi ed by experience and I was pleased to hear holistic understanding of the industry. Chris’ tremendous experience fi ts I met the appropriate standards for membership of ICAEW.” that profi le perfectly, putting us in a position to respond very rapidly to Charlotte studied hard and passed all of her exams fi rst time which meant borrowers and introducers whilst also giving our Co-Funders confi dence in she qualifi ed as a Chartered Certifi ed Accountant (ACCA) in 2012 at the our underwriting capabilities.” age of 21 and become a Fellow of the ACCA fi ve years later. Charlotte * An affi liate company joined Browne Craine in 2016 and has become a key member of the fi rm’s audit team. Nedbank Private Wealth strengthens senior Despite having two small children to look after, Charlotte has always been managemen team keen to continue her personal development. In 2018, Charlotte studied and successfully became a Certifi ed Internal Auditor (“CIA”) which means Nedbank Private Wealth has strengthened its senior management team she can conduct Internal Audits for companies should they require one. with two internal appointments. David McFadzean will take on a new role Charlotte now holds practicing certifi cates and audit practicing certifi cates as head of wealth management, while Andrew Halsall has become head with both the ACCA and ACA, the latter meaning she can audit both Isle of of private banking in the Isle of Man. Man and UK companies. Charlotte was able to do this at Browne Craine Reporting directly into chief executive, Stuart Cummins, David will assume due to the fact that the company is an ICAEW authorised training employer responsibility for spearheading business development across the and audit registered fi rm. Charlotte was awarded the practicing certifi cates company’s jurisdictions in the UK, Jersey, Isle of Man and and audit qualifi cation as she was able to demonstrate that she had recent, Dubai. His focus will be on growing the bank’s high-net- relevant and suffi cient audit and accounting experience to be competent worth client base for its wealth planning, investment to conduct audit and accountancy work. management and private banking services. David will “I’d like to congratulate Charlotte not just on her recent achievement also join the bank’s executive committee. with the ACA but her achievements over the last few years, it’s been an David (left) joined Nedbank Private Wealth just over a incredible and worthwhile journey for her. I’m delighted that our position as year ago to lead its investment specialist function and a registered audit fi rm and authorised training employer has enabled her chair its investment committee. Prior to joining, to achieve this position and I’m sure she’ll not be the last person we’ll be David spent 15 years with RBC Wealth able to nurture and help them achieve their aspirations,” said Lynsey Smith, Management where he held several senior director at Browne Craine. “Charlotte is a very motivated individual, her roles, latterly leading the investment achievements are highly impressive and I am proud to have her as part of business as managing director and head my team! Well done Charlotte, well deserved.”

36 | LifestyleHELPING YOU MAKE THE MOST OF WORK AND PLAY

Living a full and productive life is all about ﬁ nding the right balance between work and play. Here at B365 we know the importance of both. Our new lifestyle section covers topics including travel, motoring, property, health, sport and leisure.

B365 – bringing a bit of balance into your life! COMMUNITY CONCEPT DESIGNS CONCEPT DESIGNS FOR THENEWISLEOFMANTTGALLERY, MANXMUSEUM exhibition designagency, CreativeCore. planned TTandMotorsportHeritageGalleryattheManxMuseumwillbespearheadedbyspecialist Isle ofMan’s naturalandculturalheritage, hastodayconﬁrmed thatthedesignandﬁ t outforthe2022 Manx NationalHeritage, thenationalheritagecharityresponsibleforcareandpromotionof will tell the story of will tellthestoryof the Isle of Man TT the IsleofManTT from its inception from itsinception The new gallery The newgallery in 1907tothe presentday. B 1907 tothepresentday. Itwilloff ervisitorsthe story oftheIsleManTTfromitsinceptionin Opening in2022,thenewgallerywilltell install thisexciting newgalleryattheManxMuseum. Man basedcontractorstodesign,supply, fi toutand National HeritageandtogetherwithUK,Isleof races. TheywillworkalongsidetheteamatManx excitement oftheworld-famous,IsleManTT with theirlatestprojectsettocapturethe museums, galleries and visitor attractions, museums, galleriesandvisitorattractions, specialise increatingexhibitionsfor ased inWest Yorkshire, Creative Core refl ectionsandstories. multi-dimensional theatricalcelebrationofpersonal to personalitems,postersandluckycharms,a the technicaldevelopmentofmotorbikes through everything TT-related willfeature, demonstrating will immersevisitorsanddynamicdisplaysof services. Sensoryandhands-onengagements tributes andrefl ectontheworkofemergency A contemplativeareawillincludecommemorative mechanics, marshalsandfans. life storiesofeveryoneinvolved-riders,families, TT atmosphereallyearroundandportraythereal- opportunity toexperienceatantalising,tasteofthe heritage”. forward tonextyear’s eventandtocreatingaworld-classhomeforTT from homeandwewelcometheirthoughtscontributionsaslook this year’s eventandmanymorewhowouldhavejoinedintheexcitement thousands offansaroundtheworldwhowerelookingforwardtoattending weeks ofthesummeronIsleMan.We knowthattherearetensof Nowhere elsecanthisuniquecombinationbefound,except fortwo an explosionofenergyandpassion,itischaotic,catharticcultural. “This isnotatransportmuseum,thisjustsportingevent, Man TTraces. within theManxMuseuminDouglas,dedicatedtoworld-famousIsleof is thrilledtobeworkingonanewprojectcreatepermanentgallery Nichola Ward, CreativeDirectoratCoretoldB365:“Creative Core An explosionofenergyandpassion W best possiblelight.” organisation willpresentittothepublic inthe mark ourpassing.We areconfi dentthat the MNH wasthebestwaywecouldthink ofto leaving oneofthebikes behindinthecareof to showwehadbeenontheisland,so intense eff ort,andnotleaveanything behind done whatwehaveovereightyearsof It wouldbeagreatshameforustohave create acertainlegacyforMugen. some milestones,whilstatthesametime put somestakes intheground andachieve skills inEVpowertraintechnology, butalsoto not onlyforustoimproveourknowledgeand us comingtotheTTin2012weremanifold; European arm,toldB365:“Thereasonsfor Colin Whittamore,chiefexecutiveofMugen’s Manx Museum. forthcoming TTandMotorsportgalleryatthe Manx NationalHeritage,toformpartofthe their machinesfromthe2019campaignto To thisend,theydecidedtopresentoneof the IsleofManwerenotforgotten. advances inelectrictechnologyachievedon eager toensurethatthegroundbreaking competitors, Japanesefi rmMugenwere gallery new TT feature in Mugen to TT Zero: next few years, one of the leading next fewyears,oneoftheleading from theracingschedulefor ith thesuspensionofTTZero the Island’s heritage. Manx NationalHeritageastheguardian of machines, andagreatvoteofconfi dencein Mugen topresentoneoftheir2019 Shinden “It wasanincrediblygenerousgesture by History atManxNationalHeritage,added: Matthew Richardson,CuratorofSocial journey toDouglas. to completethefi nallegofits9000mile location intheUK,awaitinganopportunity from Japan.Last weekitarrivedatasecure still beenmakingitswaybyseafreight international pandemicthemachinehas restrictions anddiffian cultiesimposedby place duringthe2020TT, butdespitethe The formalhandoverwastohavetaken In transitfromJapantoIsleofMan Mugen to present their history Mugen topresenttheir history proud to be able to work with proud tobeablework with race”. of Man,asparttheworld’sgreatestroad with MugentopresenttheirhistoryontheIsle We areenormouslyproudtobeablework with thatethos. components, andthismotorcyclefitsperfectly development ofengines,fuel,tyresandother important rolethattheTThasplayedin One ofthethemesnewgalleryis technology. stones inthedevelopmentofelectric will cometobeseenasoneofthestepping zero emissionsracingontheIsleofMan I certainlybelievethatindecadestocome, galleries intheManxMuseumcomplex. of themostdramaticandthoughtprovoking scenes toensurethatthiswillbecomeone curators anddesignersworkingbehindthe The galleryisscheduled to openin2022,with We areenormously on theIsleofMan | 39

COMMUNITY COMMUNITY their bestfootforwardandstepupforTheBigSummerWalk. Junior AchievementIsleofManiscallingonpeopleacrosstheIslandtoput T THE BIGSUMMERWALK STEP UPFORJUNIORACHIEVEMENT IN day 100km trek through one of the oldest day 100kmtrekthroughoneoftheoldest De SantiagoTrek innorthernSpain;afi ve- Man wereduetoparticipateintheElCamino In October, ateamofpeoplefromtheIsle Glamping glamping pod,kindlydonatedbyGlenHelen voucher forastayinGlenHelenluxurious Most moneyraised byafamilyorgroup– Inspire HRfi tnesstracker Most moneyraisedbyanindividual–Fitbit camera withUltraHD Best video–Akaso4KSportActionwaterproof made intoaneye-catchingcanvas Best photograph–thewinningphotowillbe prizes upforgrabstoo, including: The BigSummerWalk medal,withothergreat and raises£35ormorewillberewardedwith Every individualwhocompletesthechallenge asks thateveryoneraisesasmuchtheycan. fundraising amountrequired:thecharityjust It isfreetosignupandtherenominimum summer months. the Islandandenjoysomefamilytimeover toes andisagreatwaytokeep active, explore challenge willkeep thewholefamilyontheir by ChaseWealth Solutions,thefundraising Junior Achievementintheprocess.Sponsored www.jaiom.im/event/the-big-summer-walk To fi ndoutmoreand signup, head to: raising as much money as possible for raising asmuchmoneypossiblefor between 15 he goalistowalk,jogorrun100km th Juneand7 th September, channels alongtheway. encouraging messagesonoursocialmedia sharing lotsofphotos,diff erentroutestotryand ‘feel-good’ communityfeeltoitandwillbe never beenbefore!We wantittohaveareal and exploringpartsoftheIslandyoumayhave over thenextfewmonths,trackingyoursteps challenge whichwillgetyououtandabout ‘The BigSummerWalk isdesignedtobeafun own businessoncetheyleaveeducation. the skillstheywillneedtogetajoborstarttheir children acrosstheIslandtohelpthemdevelop to continueourworkwithmorethan5,000 in TheBigSummerWalk, youwillenableus said: ‘Bysupportingourcharityandtakingpart Junior AchievementChiefExecutive SueCook summer. abilities thatpeoplecouldparticipateinoverthe family-friendly versionsuitableforallagesand keen tore-workthetrekandlaunchaManx, they leavefulltimeeducation.Thecharitywas people gaintheessentialskillstheyneedwhen to continueitsworkandhelptheIsland’s young like many, isreliantonfundraisingandevents This losswasahugehitforthecharitywhich, Covid-19 pandemicithadtobecancelled. Achievement, butduetotheimpactof expected toraisemorethan£20,000 forJunior pilgrimage routesintheworld.Thetrekwas ‘achieve’ thetarget!’ up thosewaterbottlesandjoiningintohelp We willcertainlybelacingupourtrainers,fi lling Island moving;andallforaworthwhilecause! focused, funchallengethatissuretogetthe a perfectopportunitytosupportsuchfamily into successfulemploymentandthisseems do tohelptheyoungpeopleofourIsland admired theworkthatJuniorAchievement to sponsorthisgreatinitiative. We havealways Solutions, added:‘Chase Wealth aredelighted Paul Chase, ManagingDirectorofChaseWealth thanks toourwonderfulprizesupporters.’ challenge –we’re incrediblygrateful.Alsoabig Wealth Solutionsforoff eringtosupportthis ‘We’d like tosaya huge thankyoutoChase PLASTIC POLLUTION ONWILDLIFE IMAGES HIGHLIGHTDEVASTATING IMPACT OF T A natural environment,afteraspateofdamageinrecentweeks. is appealingtotheIsland’s communitytohelpsafeguardourhistoric& Manx NationalHeritage, thenationalheritagecharityforIsleofMan, MAN’S SAFEGUARDING THEISLEOF entangled in plastic waste, or ingest it. Some entangled inplastic waste, oringestit.Some animals and birds, are at risk when they become Mr Bootadded:‘Wildlife, particularlymarine use plasticacrosstheIsland. Strategy Government’s These initiativesalignwiththeIsleofMan pollution fromourenvironment.’ for Litterare, astheyactivelyremoveplastic Buddies PlasticBusters,3POPandFishing us howimportantinitiativessuchasBeach sad tosee, butit’s importantwedoasitreminds Food andAgriculture, toldB365 : ‘It’s incredibly Geoff reyBootMHK,MinisterforEnvironment, Ballaugh Beach. to freeitselffromamassofwhitetwineon Chasms -thesecondshowsaswiftunable nest visiblycontainingplasticwasteatthe chough wrappedinorangetwinenearalarge Images, taken atoppositeendsoftheIsland,showdevastatingimpactplasticpollutioncanhaveonwildlife. aff ectedbydamageinJune. The idylliclocationofEaryCushlinwasalso visitors tothecastlesafe, wasalsoremoved. in discardedplastic.Thefia rstshows have diedafterbecomingentangled he distressingphotosshowbirdswhich , which aims to reduce to use of single , whichaimstoreduceuseofsingle distancing signage, designed to keep distancing signage, designedtokeep to theentrancedoor, wheresocial t Peel Castle, damagehasoccurred Single UsePlasticReduction HISTORIC ENVIRONMENT the Island’s beautyspots,even ifisnottheirown. protect wildlifebydisposingoflitterwhen visiting Everybody canmake adiff erence andhelp of single-useplasticisessential.› over the last 30 years, so minimising the amount seabird specieshavedeclineddramatically monetary terms, this causes much-needed monetary terms,thiscausesmuch-needed occurrence, yettheimpactissignifi cant.In historic sites.Deliberatedamageisarare saddened tohearofrecentdamageour Heritage said:“TheManxcommunitywillbe Edmund Southworth,DirectorofManxNational or Biospheresocial mediachannels be downloadedfromtheGovernment’s website reduce thedisturbancetonestingbirds. Itcan produced aguidetohelpbeachcleaners to March toAugust andtheDepartmenthas Bird breedingandnestingseasonruns from the islandweenjoy. future generations,havingalastingimpacton care. In socialterms,ourheritagecanbelostfor as themaintenanceofhistoricbuildingsinour funds tobedivertedawayfromprojectssuch to come. safeguard ourIsland’s heritageforgenerations Constabulary orManxNationalHeritagetohelp heritage crimeshouldcontactIsleofMan Anyone withinformationonincidentsof £5,000. possible imprisonmentandafi neofupto historic monumentsisliabletoprosecution, any personinjuringordefacingtheIsleofMan’s Museum andNationalTrust Act. UndertheAct, are protectedunderthetermsofT he Manx many historicsitesacrosstheIsleofMan Because oftheirimportanceandsignifi cance, provided –ortake ithome”. don’t leavelitterordogwasteexcept inthebins not lightﬁ res oruseportablebarbeques.Please remind peopletotake carewhenoutdoorsand is veryvulnerabletoﬁ re andsowewantto This isalsothetimeofyearwhenourcountryside monuments is liable to monuments isliableto Any persons injuring Any personsinjuring or defacing the Isle or defacingtheIsle of Man’s historic prosecution | 41

COMMUNITY MYBIOSPHERE # I 42 against. Even the seas around the Island seem against. EventheseasaroundIslandseem with fewercarwindscreenstobesquashed the insectshavebeengivenanewleaseoflife, much moreactiveandbrazenthanusual, most ofthelockdown. Thebirdsseemtobe It isnotjustthepeoplewhoaremaking explore itwhilestillmaintainingsocialdistancing. open spaceavailabletousmeansthatwecan and hilltopstoroam,thelargeamountof many beaches,glens,plantations,historicsites just howluckywearetolivehere. We haveso recent Covid-19crisishashelpedpeoplerealise The Islandhasalwaysbeenbeautiful,butthe Island community. work hereandtobeactivelyinvolvedinthe Sweden, asmyhome. Ifeelluckytoliveand 16 yearsandIconsidertheIsland,alongwith My ‘two-year’stayhasnowlastedmorethan Island. This month,JenniferHoughtonwrites: However, Ifellinlovewithmy husbandandthe two-year contractwithamajoraccountingfi rm. moved totheIslandin2004,initiallyona To ﬁnd outmoreaboutUNESCOBiosphereIsle of Man,ortoapplybeapartner, visitwww.biosphere.im, | MyBiosphere email regular feature, authorsfromdiff erentwalksofManxlifeoff erapersonal [email protected] orring01624686080. The Isle of Man is the only entire nation to boast UNESCO Biosphere The IsleofManistheonlyentirenationtoboastUNESCOBiosphere backroads tofi ndnewplacestovisit. We now forgotten publicfootpaths,greenways,and the hillsaroundcapital,usingalmost walks fromourapartmentinDouglasupto weather we’ve hadbytaking fourorfi ve-hour We havebeenmakingthemostof the glorious for thosewhoknowme, wasaminormiracle). bright sunlightthatitleftmespeechless(which, It looked sospectacularintheblueseaand fi it. lm succession anditwasoverbeforewecould Douglas Prom.Itbreachedthreetimesinquick we werewalkinguptowardsPort Jackfrom baleen whale(probablyaMinke) breachingas dolphins inDouglasbay. We recentlysawa to beenjoyingthereducedtraffi c,withmore both have e-bikes so can explore even further both havee-bikes socanexplore evenfurther Jennifer Houghton chairs the Institute of Jennifer HoughtonchairstheInstituteof status, refl ectingitisaspecialplaceforpeopleandnature. Inour around ourIslandhome. culture and history and it is rightly culture andhistoryitisrightly The Islandiscrammedwithbeauty, Directors IsleofMan. safe andstaywell. Tannee-shiu saucheyasgow-shiukiarail–stay in theIrishSea. because ofuswholiveandappreciatethisjewel in partbecauseofitsnaturalbeauty, butalso UNESCO Biospherestatushasbeenachieved friendly andcaringnature. TheIsleofMan’s Meanwhile, enjoytheIsland’s beauty, safety, are suff eringduringthistimeofuncertainty. look outfortheseandhelpusthosewho planned tohelpraisemoney, sopleasekeep a the Covid-19pandemicandmoreeventsare continue tobeaff ectedbytheglobalimpactof and elsewhere, weknowthatmorepeoplewill Although thelockdown iseasing,bothhere need itthemost. those individuals,businessesandcharitieswho the fund,whichisalreadyprovidingdirecthelpto There aremanyothersraisingmoneytoassist towards thecurrentfundtotalofover£600,000. raise morethan£100,000 (atthetimeofwriting), and hesmashedhisoriginaltargetof£19,000 to those whoaresuff ering fi nanciallyinthiscrisis, mentally inthischallenge, inhisdesiretohelp marathons in19days.Hesuff eredphysicallyand soul oftheManxspiritbyrunninganamazing19 Christian Varley epitomisedtheveryheartand most. directly orhelpedraisefundsforwhoneeditthe from thisislandastheyhaveeitherdonated overwhelmed bythegenerosityofpeople are suff eringfromthiscrisis,andwehavebeen Fund. Thefundwassetuptohelpthosewho involved withthelaunchofManxSolidarity this lockdown. Ihavebeenluckyenoughtobe other, andthishasbeenespecially trueduring The Islandcommunityhaslongsupportedeach beaches andpathwaysclearofrubbish. PlasticBusters, helpingtokeep theIsland’s Bill Dale’s BeachBuddiesandJaimeAmoedo’s TT (althoughsadlynotthisyear)totheworkof maintain it:frommarshalsvolunteeringwiththe proud ofthisandtheIslandcommunityhelps perspective on #MyBiosphere. perspective on#MyBiosphere. MYBIOSPHERE # I against. Even the seas around the Island seem against. EventheseasaroundIslandseem with fewercarwindscreenstobesquashed the insectshavebeengivenanewleaseoflife, much moreactiveandbrazenthanusual, most ofthelockdown. Thebirdsseemtobe It isnotjustthepeoplewhoaremaking explore itwhilestillmaintainingsocialdistancing. open spaceavailabletousmeansthatwecan and hilltopstoroam,thelargeamountof many beaches,glens,plantations,historicsites just howluckywearetolivehere. We haveso recent Covid-19crisishashelpedpeoplerealise The Islandhasalwaysbeenbeautiful,butthe Island community. work hereandtobeactivelyinvolvedinthe Sweden, asmyhome. Ifeelluckytoliveand 16 yearsandIconsidertheIsland,alongwith My ‘two-year’stayhasnowlastedmorethan Island. This month,JenniferHoughtonwrites: However, Ifellinlovewithmy husbandandthe two-year contractwithamajoraccountingfi rm. moved totheIslandin2004,initiallyona To ﬁnd outmoreaboutUNESCOBiosphereIsle of Man,ortoapplybeapartner, visitwww.biosphere.im, MyBiosphere email regular feature, authorsfromdiff erentwalksofManxlifeoff erapersonal [email protected] orring01624686080. The Isle of Man is the only entire nation to boast UNESCO Biosphere The IsleofManistheonlyentirenationtoboastUNESCOBiosphere backroads tofi ndnewplacestovisit. We now forgotten publicfootpaths,greenways,and the hillsaroundcapital,usingalmost walks fromourapartmentinDouglasupto weather we’ve hadbytaking fourorfi ve-hour We havebeenmakingthemostof the glorious for thosewhoknowme, wasaminormiracle). bright sunlightthatitleftmespeechless(which, It looked sospectacularintheblueseaand fi it. lm succession anditwasoverbeforewecould Douglas Prom.Itbreachedthreetimesinquick we werewalkinguptowardsPort Jackfrom baleen whale(probablyaMinke) breachingas dolphins inDouglasbay. We recentlysawa to beenjoyingthereducedtraffi c,withmore both have e-bikes so can explore even further both havee-bikes socanexplore evenfurther Jennifer Houghton chairs the Institute of Jennifer HoughtonchairstheInstituteof status, refl ectingitisaspecialplaceforpeopleandnature. Inour around ourIslandhome. culture and history and it is rightly culture andhistoryitisrightly The Islandiscrammedwithbeauty, Directors IsleofMan. safe andstaywell. Tannee-shiu saucheyasgow-shiukiarail–stay in theIrishSea. because ofuswholiveandappreciatethisjewel in partbecauseofitsnaturalbeauty, butalso UNESCO Biospherestatushasbeenachieved friendly andcaringnature. TheIsleofMan’s Meanwhile, enjoytheIsland’s beauty, safety, are suff eringduringthistimeofuncertainty. look outfortheseandhelpusthosewho planned tohelpraisemoney, sopleasekeep a the Covid-19pandemicandmoreeventsare continue tobeaff ectedbytheglobalimpactof and elsewhere, weknowthatmorepeoplewill Although thelockdown iseasing,bothhere need itthemost. those individuals,businessesandcharitieswho the fund,whichisalreadyprovidingdirecthelpto There aremanyothersraisingmoneytoassist towards thecurrentfundtotalofover£600,000. raise morethan£100,000 (atthetimeofwriting), and hesmashedhisoriginaltargetof£19,000 to those whoaresuff ering fi nanciallyinthiscrisis, mentally inthischallenge, inhisdesiretohelp marathons in19days.Hesuff eredphysicallyand soul oftheManxspiritbyrunninganamazing19 Christian Varley epitomisedtheveryheartand most. directly orhelpedraisefundsforwhoneeditthe from thisislandastheyhaveeitherdonated overwhelmed bythegenerosityofpeople are suff eringfromthiscrisis,andwehavebeen Fund. Thefundwassetuptohelpthosewho involved withthelaunchofManxSolidarity this lockdown. Ihavebeenluckyenoughtobe other, andthishasbeenespecially trueduring The Islandcommunityhaslongsupportedeach beaches andpathwaysclearofrubbish. PlasticBusters, helpingtokeep theIsland’s Bill Dale’s BeachBuddiesandJaimeAmoedo’s TT (althoughsadlynotthisyear)totheworkof maintain it:frommarshalsvolunteeringwiththe proud ofthisandtheIslandcommunityhelps perspective on #MyBiosphere. perspective on#MyBiosphere. THE SAFEST OFHAVENS PROPERTY COULDBECOME W cutting their dividend payouts to shareholders. cutting theirdividend payoutstoshareholders. likelihood ofitaff ectingthe West grewstronger, socompaniesbegan companies. However, astheburgeoningpandemicraged andthe dividends generatedfromshareholdings inbluechipandotherlisted Income-seeking investorshavelong reliedonseeminglydependable Wishful thinking? Investment-relatedevidence suggestsotherwise. comparable surgeinvalueoncelifereturnstonormal? price risesofthismagnitudesince2004,althoughwhocouldruleouta periods ofbetween33and42months.It’s noticeablethatwehaven’t seen really gotitsskatesonandvalueshavesoaredbyanaverageof77%over On fourseparateoccasionsfrom1971onwards,thepropertymarket* has ride canbeexhilarating. As thechartbelowindicates,oncepropertymarket startsmotoring,the and investorsalike. the presenceofsimilarconditionshasprovedagodsendtohomeowners pivotal toprogressinthepropertymarket, butrecenthistoryshowsusthat Back in2009, mortgageavailability, coupledwithborrowingcosts,proved market andthenumberofpropertytransactiondropped. 19% asacombinationofausterityandmortgageavailabilityweakened the suff eredoncemore. Between2007-09, averagepricestumbledbyalmost correction ensued,followedbyatemporarybounce-backbeforevalues prices hadrisenby125%.Post-Northern Rock, pricesstalled,amini by homeowners:between2000andthefi rstquarterof2007, average prices hadexperiencedoneofthoseprotractedsurgesinvaluebeloved Prior tothefi rstrunonaBritishbankin150years,residentialproperty was frighteninglyobviousthattheeconomywobbling. people queueingforhourstowithdrawtheirmoneyfromNorthernRock, it from September2007thatcausedmostconsternation.Whenwesaw into aLondon policestationtorevealhisdeception,butitwasanimage Sarkozy). Later thesameyear, the‘missingcanoeist’JohnDarwinwalked both theUKandFrancehadnewpoliticalleaders(MessrsBrown Cast yourmindback13years,to2007, andyou’llrecallthatbylateSpring, encouraging indicatorslikely togladdenpropertyinvestors. of 2007-08,thoughifwegobackfurther, wediscoverseveralextremely be withthefalloutandeventualrecoveryfromglobalfi nancialcrisis From apropertyperspectiveatleast,moreaccuratecomparisonwould been voluntary. us tosmithereensandb)inadheringlockdown rules,ouractionshave experiencing theonsetofdespotism,buta)there’s no-onetryingtoblow Some commentatorshavelikened lockdown tolivingthroughawaror unparalleled inoureconomicandsocialhistory. nonetheless reasonabletosaythatwhatwe’ve livedthroughoverthelastthreemonthsis Over-use oftheword‘unprecedented’mayhavelessenedadjective’s impact,butit’s Source: Nationwide. *Nationwide’s fi guresarebaseduponUKdata,butthoseoftheIsleManwerebroadlysimilar. Period WHEN THEPROPERTY MARKETMOTORS: Change inav. propertyvalues Percentage increase Consecutive monthsofgrowth tricky business. tricky business. makes forecastingitslonger-termeconomicramifia cations e havenothingwithwhichtocompareagloballockdown, which Q2 1971toQ31974 £ 4,909to10,148 + 42 106.7% Q1 1978toQ31980 £ 13,820to£23,628 + 70.9% 33 to make it much sought-after once lockdown ends. to make itmuchsought-afteroncelockdown ends. slowly-rising rentalincomeandlongtermcapitalappreciation,factorslikely could becomethesafestofhavens,off eringacomfortingprospectof It followsthatwhileitmightsuff eraperiodic,short-termknock,property for thatcovetedcombinationofincomeandcapitalgrowth. appears uncertain,anincreasingnumberofpeoplearelookingelsewhere the prospectofoncereliableequitiesreturningacopper-bottomedyield equity investorshaverecoupedvirtuallyalloftheircapitallosses.Now, as since thegut-wrenchingcollapseofearlyMarch,mostdividend-seeking this abottomlesspit.Fortunately, assharepriceshaverecoveredmarkedly a cashbuff ertotidethemoverduringperiodsofuncertainty, butrarelyis In additiontotheirequityandotherinvestments,mostfolkstendretain fi rstreductionsince World War II. giant Shellannounceditwouldbereducingitsdividendbytwo-thirds,the more thanhalf(51%).Bearinmind,thesefi gureswerepublished beforeoil fall bymorethanaquarter;theworstcasewouldseepayoutsslump Even Link’s ‘bestcase’ scenariowouldseeshareholders’ dividendincome be atriskthisyear. do so, whilethereportidentifi edafurther£23.9bnofdividendsitjudged to Britain’s listedcompanieshadeitheraxed theirpayoutsorwerecertainto expected overtheremainderof2020. ByApril,almosthalf(45%)of The fi gurerepresentsonethirdofthedividendsinvestorscouldhave the endofDecemberthisyear[2020].” payouts toshareholdersworthastaggering£25.4bnbetweennowand that “WithinafewdaysfromthemiddleofMarch,UKcompaniesscrapped latest The extenttowhichdividendshavebeenslashedishighlightedinthe yielding anaverageof5.6%. Fordetailsofresidential Hartford Homes currently have a range of modern, Hartford Homescurrentlyhavearangeofmodern, new build investment properties available for sale, new buildinvestmentproperties availableforsale, published by Link Group. The report states UK DividendMonitorpublishedbyLinkGroup. Thereportstates [email protected] or telephone 01624631000. and commercialinvestment property, email Q3 1986to1989 £ 38,251to£62,782 + 64.1 % 39 Q3 2001toQ42004 £ 91,049 to£152,464 + 67.4% 42 By Peter Sharkey | 43

PROPERTY COMMUNITY FOR MANXSOLIDARITY FUND & IOMFOODBANK CUP WINNERS!#YESSIRCAMPAIGN RAISESFUNDS 44 Packet CompanyfromWednesday 26 As ofmidnightonTuesday 26 Meanwhile, demandfornewdepositbookings TT 2021washighwhenreservationsopenedonMonday25thMay. transferred theirbookingstonextyear’s event. More than71percentofpassengers booked totravel withtheCompanytothisyear’s TT–whichwas cancelledduetotheCOVID-19 pandemic–have were releasedbytheIsle ofManSteam Packet Company. The continuedpopularityoftheTThasagain beenhighlightedaftersailingsforthe2021festival BUMPER EARLY BOOKINGSFORTT2021 International. Before the #Yessir campaign International DistributionManageratZurich The campaignwastheideaofMartinMalone, Fund andIsleofManFoodbank. be sharedequallybetweentheManxSolidarity charitable foundation. Sothatmeans £12,240 will Foundation which is ZurichInsuranceGroup’s pound hasbeenmatchfundedbythe ZZurich campaign’s JustGiving page – andevery coff ee. Atotalof £6,120 was donatedtothe which theywouldnormallybespendingon those whocanaff ordittodonatemoney Coff ee#Yessir’ campaignwhichasked Zurich International createdthe‘Give A COVID-19 emergency. who aremostinneedduetothe both helpingthoseontheIsland Foodbank – charitiesthatare Fund and Isle ofMan between the ManxSolidarity £12,240 tobesharedequally campaign hasgenerated An innovativefundraising | th May, morethan24,000 passengersandcloseto 12,000 motorcyclesarebooked totraveltheIsleofManwithSteam th May–Friday11 supporting those in crisis across the Isle of Man, supporting thoseincrisisacrosstheIsleofMan, and abilitytocontinueouressentialwork, been awesomeandhavegivenusthecourage International andtheZZurichFoundationhave support. The recentdonationsfromZurich over thelast7yearsandfortheircontinued have developedwithZurichInternational added: “We areproudoftherelationshipwe Neal Mellon,CEO, IsleofManFoodbank, as this.” of ourdonorsandinnovativecampaignssuch it. Thisisonlypossiblethankstothegenerosity is alreadypayingoutgrantstopeoplewhoneed their ongoingsupport. TheManxSolidarityFund amount raised.We areimmenselygratefulfor to the Z Zurich Foundation formatchingthe timed #Yessir campaign!Andahugethanks the staff atZurich International fortheirperfectly told B365: “ThankyoutoMartinMaloneand Melanie Kermeen, Director, ManxSolidarityFund, of ManFoodbank. Zurich Foundationhaddonated£30,000 toIsle £30,000 totheManxSolidarityFund,andZ began, Zurich Internationalhadalreadydonated th June2021. and cafés Among themanycoff eeshops coff eeshopsontheIslandthatsupportedittoo.” donated tothe#Yessir campaign,andthemany want tosayabigthankyoueveryonewho public havebeenincrediblygenerous,sowe began. Asalways,ouremployeesandtheManx on theIslandsinceCOVID-19 emergency we havelaunchedtohelpthecommunityhere #Yessir campaign ispartofarangeinitiatives Peter Huber, CEO, ZurichInternational,said:“The Foundation fortheirsupport.” to allatZurichInternationalandtheZ like tosayamassiveGuramieeu/Thankyou volunteers andclientsoftheFoodbankIwould time ofgreatestneed. Onbehalfthedirectors, to suspendorevenclosetheirfacilitiesatthe when somanyfoodbanksintheBritishIsleshad Coff eeCo. Beans, Starbucks, Tea Junction,andThe Windsor Bakehouse, Shed ByTheSea,Spill Courthouse, Cycle360, JavaExpress, Noa Bohemian Coff eeHouse, Coff eeMann,Costa, were 1886, TheAlpine, BaristaExpress, supporting the #Yessir campaign

F healthy during lockdown. healthy duringlockdown. Wealth ManagementintheUKandCrownDependencieskeep activeandmentally Olympic andParalympic athletesarehelpingthe564employeesofCanaccordGenuity motivated throughCOVID-19 Management workforcekeep movingand Olympians helpCanaccordGenuityWealth personal performance. Studies byThe GuardianandPsychologyToday There isaprovenlinkbetweenphysical activityandbetterbusiness anyone whoisstrugglingwhilstworking remotelywillbenefi t.” have hadandarekeen tosharethiscontentmorewidely inthehopethat campaign quicklyandeff ectively. We aredelightedwiththeresponsewe journeys, wewereabletopivotour activity toaninternalcommunications and thebrilliantworktheydowithathletesontheirOlympicParalympic and mentalhealth.HavingsupportedTeamedUp forthepasttwoyears a hugeimpactonourteams;intermsofmotivation,engagement,focus quickly recognisedthatthechangetoworkingremotelywasgoinghave for CanaccordGenuityWealth Management JaneParry toldB365:“We Commenting onthecampaign,HeadofMarketing andCommunications challenges beingpresentedbyCOVID-19 foremployees. stress andresiliencewithcontenttailoredtocurrentfeelings change. Topics includemotivationandpurpose, goalsetting,managing to sportingsuccess,particularlythroughtimesofchallenge, failureand Lizzie Simmondslooksatthekey themesthathelpedshapeherjourney kitchen workout’. Duringthementalhealth weeks,Olympicswimmer lockdown requirements–from‘coreonacushion’ to‘theultimate weeks, thefocusisontailoredexercises thatcanbedonewhilstmeeting the powerfulandengagingseriesofcontent.Duringphysicalhealth Canaccord isworkingwithTeamedUp andsix Olympicathletestocreate watch andsharewithfriendscolleagues. encouraging anyonewhowouldfi nditusefulatthisunsettlingtimeto the contentforbroaderpublicuseonitswebsiteandLinkedIn and to thecampaignhasbeensopositivethatCanaccordisnowpublishing teams astheyestablishanewnormofworkingremotely. Initialresponse used tocreatevideos,factsheetsandtoptipssupportCanaccord’s sport relatingtokeeping fi t bothmentallyandphysicallyarebeing or the#wecandothiscampaign,coreconceptsfromworldof Sarah -Corewithacushion https://www.teamedup.co.uk To fi nd outmoreabouttheworkof TeamedUp pleasevisit: https://www.canaccordgenuity.com/wealth-management-uk/we-can-do-this factsheets, goto: To fi nd outmoreandwatchorreadthe#wecandothisvideos of immensechange. and eff ectivewaytohelpallthosewhoarestrugglingthroughthisperiod sport andgettingfi rst-handadvicefromathletesisprovingtobeapowerful principles of#cando. Shiningalightontheworldofhigh-performance There hasneverbeenabetterormoreimportanttimetoembracethecore #wecandothis.” our localcommunitiesaswe’re allfacingthesamechallenges.Together, “We’re pleasedtonowbeablesharethiscontentandsupportwith homes,” saidDermotHamill,HeadofWealth Management inIsleofMan. wellbeing andsomeexcellent videoswhichwecanuseinourown “#wecandothis hasgivenfreshimpetusinsupportofouremployees’ supporting employeewellbeingwithsuchapositiveinitiative.” Canaccord GenuityWealth Managementhasbeensoforward-thinkingin is anunprecedentedandchallengingtimeforallofus,soit’s greatthat insights fromtheworldofelitesportthrough#candocampaign.This Simmonds said:“I’velovedhavingtheopportunitytoshareknowledgeand Commenting onherinvolvementinthecampaign,OlympianLizzie take actionandachieveresults.” English dictionaryis“havingorshowingadeterminationwillingnessto staff andclientsto keep moving. Thedefi nitionof‘can do’ intheOxford promote thesepositivemessagesandencouragethelocalcommunity, platform thecompanyhasusedoverpastthreeyearstoconsistently #cando isCanaccord’s overarching themeforallCSRactivity, and the indicate thatourmentalcapacityisdirectlylinked toourphysicalregime.

| Jane Parry 45

HEALTH Exactly what it says on the tin – news snippets, forthcoming events and information from the business world.

There’s no doubt that we live in somewhat unsettling times, and it’s taking its toll on our mental health. But when we’re all in separate spaces, it becomes even harder for managers to check in and keep track of how people are doing. It’s easy to let something like this fall by the wayside, when we’re dealing with work, childcare and homeschooling on top of our usual stresses, but it’s important that it stays a key part of your management technique. In fact, it should become an even more important one. Beth Lang, head of operations at User Conversion, explains the best ways to reach out to your colleagues when they’re working from home, and how you can show them that their mental health is one of your top priorities. HOW TO REACH OUT TO YOUR W FH COLLEAGUES DURING A GLOBAL PANDEMIC

Start by creating a safe space Encouraging people to open up mental health when remote working. Two of these questions are; ‘Are there any early Having an open culture within your offi ce is an Opening up can be hard, especially to your warning signs that we might notice when essential part of good mental health, especially colleagues or manager, and especially you are starting to experience poor mental when we’re all in lockdown and so cut off . After over Zoom. But as with anything, especially health?’ and ‘If we notice early warning signs all, if you don’t have people who champion something as complex as reaching out that you are experiencing poor mental health mental health and talk about it openly, how are for help, it’s incredibly important that the - what should we do?’ your employees going to know it’s ok to come leadership team lead by example. Nothing to you. sends a more powerful message about it Employees fi ll out these plans and share being ok to open up, than the leaders doing them with their manager (confi dentially) and If you don’t already have this in place, then it’s it fi rst. any other team members they may be more not too late to start. It might be more diffi cult to comfortable with, and they’re invaluable to create a safe mental health space in lockdown, Like most companies, we also off er 1-2-1 a manager in helping them to understand but there’s plenty you can do to encourage it. sessions between employees and their line managers. These have started happening both how to proactively support good Start by regularly checking in with those you more frequently over video chat during mental wellbeing in their teams. Because manage, ask how they are and how they are lockdown, but we try not to focus just on work they’re created on an individual level, they coping with the workload and the lockdown. and career progression. We have extended are tailored to that person’s own needs and Share resources, tips and advice on how sessions where the time is dedicated to really nothing else. The act of creating this plan also to stay well during these times, and actively talking about how they are doing. It means gets the individual thinking about what keeps encourage engagement and trying new things; that managers can start spending proper them mentally healthy - and so prompts them like diff erent working hours, longer lunch time fi nding out how they are coping, asking to take steps to ensure they are proactively breaks, etc. Try setting up an active Slack the right questions about their wellness, looking after themselves too. channel where you talk about things other motivation levels and productivity, whether or During our extended 1-2-1s, it’s not just than work, and encourage engagement in well not they are taking proper breaks and getting important that people talk, it’s also vital that being-focused things, like sharing what you out and about if/when they can. It’s not a managers listen. We encourage staff not get up to on evenings and weekends, pictures grilling, but an open and honest conversation. to just say they are ‘fi ne’ and then move from your walk, baking or recipes. on. We use coaching questions a lot here Once people know that you care more than Be on the lookout for signs of at User Conversion, which are focused on just about the work someone produces, they’ll struggling encouraging the individual to think about what fi nd it easier to approach you when things As part of our Wellness Action Plans, we have they can do - so asking what they’re doing to aren’t going so well. a number of questions that cover looking after look after themselves is a great starter. 46 | Exactly what it says on the tin – news snippets, forthcoming events and information from the CHARTWELL business world. One year on an d planning for the long-term An Island practice which provides respected independent fi nancial advice to private There’s no doubt that we live in somewhat unsettling times, and it’s taking its toll on clients and business is celebrating a special milestone. our mental health. But when we’re all in separate spaces, it becomes even harder for Hazel Jordan and managers to check in and keep track of how Joanne Dugdale. people are doing. It’s easy to let something like this fall by the wayside, when we’re dealing with work, childcare and homeschooling on top of our usual stresses, but it’s important that it stays a key part of your management technique. In fact, it should become an even more important one. Beth Lang, head of operations at User Conversion, explains the best ways to reach out to your colleagues when they’re working from home, and how you can show them that their mental health is one of your top priorities. HOW TO REACH OUT TO YOUR W FH COLLEAGUES DURING A GLOBAL PANDEMIC

Start by creating a safe space Encouraging people to open up mental health when remote working. Two of these questions are; ‘Are there any early Having an open culture within your offi ce is an Opening up can be hard, especially to your warning signs that we might notice when essential part of good mental health, especially colleagues or manager, and especially you are starting to experience poor mental when we’re all in lockdown and so cut off . After over Zoom. But as with anything, especially health?’ and ‘If we notice early warning signs all, if you don’t have people who champion something as complex as reaching out that you are experiencing poor mental health mental health and talk about it openly, how are for help, it’s incredibly important that the - what should we do?’ your employees going to know it’s ok to come leadership team lead by example. Nothing to you. sends a more powerful message about it Employees fi ll out these plans and share being ok to open up, than the leaders doing them with their manager (confi dentially) and t’s a year since Chartwell Financial Planners was formed, the brainchild of The Chartwell team, which as well as Managing Director Jo, comprises If you don’t already have this in place, then it’s it fi rst. any other team members they may be more Manx businesswoman Jo Dugdale. Head of Compliance Hazel Jordan and Non-Executive Director Chris not too late to start. It might be more diffi cult to I comfortable with, and they’re invaluable to After marking its fi rst birthday, the company is now looking to the future; Kewley, pledges to deliver a special brand of fi nancial planning to both create a safe mental health space in lockdown, Like most companies, we also off er 1-2-1 a manager in helping them to understand committed to providing the best possible advice and service to protect individuals and business owners, whether they are planning longer term or but there’s plenty you can do to encourage it. sessions between employees and their line what really matters. have already reached retirement. managers. These have started happening both how to proactively support good Start by regularly checking in with those you Jo believes fi nancial planning should be focused on keeping clients safe more frequently over video chat during mental wellbeing in their teams. Because Jo, who decided to set up her own practice after 25 years working in manage, ask how they are and how they are from the unknowns and improving their fi nancial position, over the long lockdown, but we try not to focus just on work they’re created on an individual level, they fi nancial services and independent fi nancial advice fi rms both in the UK term, using familiar tools such as insurance, investments and pensions. coping with the workload and the lockdown. and career progression. We have extended are tailored to that person’s own needs and and Isle of Man, is excited to see the business grow. Share resources, tips and advice on how sessions where the time is dedicated to really nothing else. The act of creating this plan also ‘Yes, this is an exciting time, but it is only the beginning,’ she explained. The practice prides itself on using Lifestyle Cashfl ow Planning to help clients to stay well during these times, and actively gets the individual thinking about what keeps understand how to live the life they want to live and not run out of money. talking about how they are doing. It means ‘When we formed a year ago it was incredibly important to the team that encourage engagement and trying new things; that managers can start spending proper them mentally healthy - and so prompts them we created a business that was both modern in its approach, yet delivered Jo continued: ‘It’s been a really exciting yet challenging year. I feel very like diff erent working hours, longer lunch time fi nding out how they are coping, asking to take steps to ensure they are proactively quality advice and placed the client at the forefront of every decision we fortunate that we have achieved our fi rst-year business goals and I have breaks, etc. Try setting up an active Slack the right questions about their wellness, looking after themselves too. took. We believe we are well on the way to achieving that. been humbled at the support received from both clients and the business channel where you talk about things other community. motivation levels and productivity, whether or During our extended 1-2-1s, it’s not just ‘You won’t fi nd a Chartwell offi ce; we meet clients at a location of their than work, and encourage engagement in well not they are taking proper breaks and getting important that people talk, it’s also vital that choice whether at home or a virtual online meeting. Thankfully, we have ‘Looking ahead, our aims are to continue challenging the way fi nancial being-focused things, like sharing what you out and about if/when they can. It’s not a managers listen. We encourage staff not been largely unaff ected by the COVID 19 restrictions due to our business planning is delivered; placing our clients fi nancial wellbeing at the heart of get up to on evenings and weekends, pictures grilling, but an open and honest conversation. to just say they are ‘fi ne’ and then move model. what we do, whilst providing a top-level service. from your walk, baking or recipes. on. We use coaching questions a lot here ‘What is key is taking the time to understand an individual’s aspirations for their ‘Beyond that we truly enjoy what we do, believe in what we do and care Once people know that you care more than Be on the lookout for signs of at User Conversion, which are focused on life, their family and, in the case of an organisation, their business. We then put about our clients, so it feels like a recipe for success. A sincere thank you to just about the work someone produces, they’ll struggling encouraging the individual to think about what a plan in place which organises their fi nances in a way designed to help them everyone who has been involved at Chartwell Financial Planners and, most fi nd it easier to approach you when things As part of our Wellness Action Plans, we have they can do - so asking what they’re doing to best achieve their goals. It’s all about fi nancial wellbeing, making the right of all, to our clients who have joined us over the last 12 months. We strive to aren’t going so well. a number of questions that cover looking after look after themselves is a great starter. decisions to build and protect your wealth over time.’ continue off ering the best possible fi nancial advice.’ | 47 ORGANISATIONS REVAMP MOBILITY PROGRAMMES WITH ALTERNATE FORMS OF INTERNATIONAL ASSIGNMENTS AND A FOCUS ON EMPLOYEE WELLBEING

■ Hong Kong retains top spot as most expensive destination for expatriates in Asia and globally ■ In the UK, London (19) ranks highest, followed by Birmingham (129), Aberdeen (134), Glasgow (141) and Belfast (149) ■ Mercer’s 26th annual Cost of Living Survey helps employers navigate expatriate packages, essential due to uncertainty from pandemic

n the wake of COVID-19, social and economic and remuneration packages with a keen In the short-term, preparation for this new disruption has spurred organisations to eye that balances empathy with economics, approach to global mobility may involve Ireassess their global mobility programmes accurate and transparent data is essential re-relocating assignees who have been with a focus on the well-being of their expatriate to compensate fairly for all types of mobility repatriated. In the medium-term, the priority will employees. As they leverage new working assignments, taking into account changes be about realigning the mobile workforce with arrangements, changing technology, and resulting from the current pandemic and new economic models focused on shortened adaptive ways of thinking, they are considering subsequent market volatility. supply chains, more regional moves and a alternate forms of international assignments renewed need to train talent. In addition to Mercer’s 26th annual Cost of Living Survey in addition to traditional mobility programmes these concerns, relevant information about the fi nds that specifi c factors such as currency to sustain their overseas operations and cost and location of assignments worldwide will fl uctuations, cost infl ation for goods and workforces. be a critical factor post-crisis. services, and instability of accommodation Despite an appetite to grow and scale globally prices, are essential to determining the cost Mercer’s 2020 Cost of Living Survey while navigating the uncharted waters of a of expatriate packages for employees on health and economic crisis, reductions in staff international assignments. According to Mercer’s 2020 Cost of Living and salaries as well as changes to benefi t Survey, Hong Kong tops the list of most “The COVID-19 pandemic reminds us programmes have challenged overseas expensive cities for expatriates, followed by that sending and keeping employees expansion strategies. As organisations re- Ashgabat, Turkmenistan in second position. on international assignments is a huge examine talent portfolios, mobility programmes, Tokyo and Zurich remain in third and fourth responsibility and a diffi cult task to manage,” positions, respectively, whereas Singapore is in said Ilya Bonic, Career President and Head fi fth, down two places from last year. New York of Mercer Strategy. “Rather than bet on a City ranked sixth, moving up from ninth place. dramatic resurgence of mobility, organisations Mercer’s data was collected in March; price should prepare for the redeployment of their variances in many locations were not signifi cant mobile workforces, leading with empathy and due to the pandemic[1]. understanding that not all expatriates will be ready or willing to go abroad.” Other cities appearing in the top 10 of Mercer’s costliest cities for expatriates are Shanghai (7), Bern (8), Geneva (9), and Beijing (10). The world’s least expensive cities for expatriates, according to Mercer’s survey, are Tunis (209), Windhoek (208), Tashkent and Bishkek, which tied to rank 206.

48 | Mercer’s widely recognised survey is one of the like Paris (50), Milan (47) and Frankfurt (76) drop both Dubai and Abu Dhabi. Just like UEA, Saudi world’s most comprehensive, and is designed to in this year’s ranking. Arabia is seeking to limit the impact of oil exports help multinational companies and governments and move to a more diversifi ed economic A decision by the United Kingdom to leave model. Prices have remained stable over the determine compensation strategies for their the European Union has not impacted its local course of the last six months; however, with the expatriate employees. New York City is used as currency which remains strong, gaining value to upcoming value-added tax increase there is an the base city for all comparisons and currency all major global currencies. In the UK London (19) expectation to see prices change. Tel Aviv (12) movements are measured against the US dollar. ranked highest, followed by Birmingham (129), continues to be the most expensive city in the The survey includes over 400 cities throughout Aberdeen (134), Glasgow (141) and Belfast (149). Middle East for expatriates, followed by Dubai the world; this year’s ranking includes 209 London, Birmingham and Belfast also jumped (23), Riyadh (31), and Abu Dhabi (39). Cairo (126) cities across fi ve continents and measures the four, six, and nine places, respectively this year. comparative cost of more than 200 items in each remains the least expensive city in the region location, including housing, transportation, food, “The position of UK cities remained relatively despite rising forty places. clothing, household goods, and entertainment. stable year-on-year as the pound held its own against the US dollar,” said Kate Fitzpatrick, Ndjamena, Chad (15) is the highest ranked city “Border closings, fl ight interruptions, mandatory Mercer’s Global Mobility Practice Leader for the in Africa while Tunis (209) in Tunisia ranks as the confi nements, and other short-term disruptions UK & Ireland. least expensive city in the region and globally. have aff ected not only the cost of goods The Americas and services, but also the quality of living of assignees,” said Mr. Bonic. “Climate change, While the global economic downturn took hold issues related to environmental footprint, during the fi rst part of the year, the strength of and health system challenges have pushed the dollar drove up costs for expatriates in US multinationals to consider how a city’s eff orts cities. As a result, cities in the United States have around sustainability can impact the living climbed in this year’s ranking of most costly conditions for their expatriate workers. cities. New York (6) is the highest-ranked city in Cities with a strong sustainability focus can the country followed by San Francisco (16) Los greatly improve living standards, which can Angeles (17) Honolulu (28) and Chicago (30). in turn improve employee well-being and Winston Salem, North Carolina (132) remains the engagement.” least expensive US city surveyed for expatriates. Due to timing of the COVID-19 outbreak, Mercer A decision by the In South America, San Juan (66) ranks as the conducted further analysis on availability of costliest city, followed by Port of Spain (73), San goods in April and May to verify pricing. United Kingdom to leave Jose (78) and Montevideo (88). Managua (198) is the least expensive city in South America. Properly vetting locations and compensating the European Union has not Caracas in Venezuela is excluded from the employees on international assignments is as ranking due to the complex currency situation; important as it can be costly. Mercer’s survey impacted its local currency its ranking would have varied greatly depending shows that costs of goods and services shift with which remains strong on the offi cial exchange rate selected. infl ation and currency volatility making overseas assignment costs sometimes greater and The Canadian dollar has appreciated in value, Commenting on the impact of the COVID-19 sometimes smaller. triggering jumps in this year’s ranking. Up on companies and their expatriate workers, Ms eighteen places from last year, Vancouver (94) is “Sudden changes to exchange rates has been Fitzpatrick said: “Our research has shown that the most expensive Canadian city in the ranking, mainly driven by the impact COVID-19 is having most expatriates out on assignment chose to followed by Toronto (98). Ranking 151, Ottawa is on the global economy,” said Yvonne Traber, stay in their host location during the pandemic the least expensive city in Canada. Global Mobility Product Solutions Leader lockdown period. Some temporarily returned at Mercer. “This volatility can aff ect mobile to their home country or travelled elsewhere, Asia Paciﬁ c employees in a variety of ways, from shortages but wherever possible have continued to work Six of the top 10 cities in this year’s ranking are in and price adjustments for goods and services, remotely. So while the deployment of assignees Asia. Hong Kong (1) retained its spot as the most to supply chain disruptions or when employees has been suspended temporarily, companies expensive city for expatriates both in Asia and are paid in home country currency and need to have shifted their focus to ensuring their expats globally due to currency movements measured exchange funds into the host country for local are safe, secure and set up for remote working. against the US dollar and driving up the cost purchases.” “Looking ahead to when travel can resume, of living locally. This global fi nancial centre is Europe there is a broad expectation that those followed by Ashgabat (2) Tokyo (3) Singapore expatriates out of position will return to their host (5) Shanghai (7) and Beijing (10). Mumbai (60) is Three European cities are among the top 10 list locations to see out their original assignment India’s most expensive city while Kolkata (185) is of most expensive locations. At number four periods, and new assignments will commence the least expensive Indian city ranked. in the global ranking, Zurich remains the most as originally planned. Companies therefore need costly European city, followed by Bern (8), up Australian cities have fallen in the ranking this to closely monitor how fl uctuations in currencies year as the local currency has depreciated four spots from last year. The next European city have impacted expat cost of living and if against the US dollar. Sydney (66), Australia’s in the ranking, Geneva (9), is up four places from necessary adjust their compensation packages. most expensive ranked city for expatriates, last year. Cost savings will also remain high on the agenda experienced a drop of sixteen places. The as companies decide when and where to send Despite some low price increases across the least expensive city in the region, Adelaide fell employees on assignment”. region, several local currencies in Europe have seventeen places to rank 126. weakened against the US dollar, pushing many The Middle East and Africa cities down in the ranking. As France and Italy’s Mercer produces individual cost of living and rental accommodation cost reports for each city surveyed. economies shrank at the end of 2019, Eurozone The United Arab Emirates continue to diversify For more information on city rankings, visit https:// the economy, subsequently reducing the impact growth came close to zero. Yet, there are no bit.ly/3c9EzFN. To purchase copies of individual city signs of crisis when it comes to infl ation in any of of oil industry on GDP. With this ongoing process, reports, visit https://mobilityexchange.mercer.com/ the leading EU countries. The region saw cities there has been negative price movement in multinational-approach-cost-of-living-data.

| 49 One third of businesses axe IT staﬀ due to Covid-19 cost concerns New global poll from Leonne International of over 1,000 business decision-makers reveals that over one third of companies have axed IT staff and half have cut IT Budgets due to Covid-19 concerns – despite an increase in data security concerns.

round 37 per cent of companies have applications, securing data and ensuring home- the foreseeable future. With many companies made members of their IT staff redundant workers browse the internet safely – meaning scrambling to implement remote working Aor placed them on furlough schemes, budget cuts and furloughed staff has come at a systems, getting access to digital consultancy, according to global research commissioned time when IT services will be in high demand. guidance and support is crucial, to keep by Leonne International, the private equity fi rm. In the UK specifi cally, 34 per cent of companies processes running smoothly and enabling Out of 1,116 business decision makers from the have made members of their IT staff redundant employees to work eff ectively. UK, US, France and Germany surveyed by or placed them on furlough, and 49 per cent Many companies have already discovered that independent polling agency Censuswide, 418 have frozen their IT budget until further notice. without the right software and apps in place, admitted to removing IT staff since the Covid-19 Despite this, 37 per cent of UK businesses are running important tasks remotely can pose pandemic started. still using outdated versions of Zoom; 37 per cent serious challenges. Key to solving this issue is Similarly, almost half (47 per cent) of companies have allowed members of staff to purchase their getting access to Software as a Services (SaaS) surveyed have frozen IT budgets for the own devices to work from home, and, 38 per support, to manage analytics, fi nance, email and foreseeable future in order to save money during cent expect a data breach to occur during the other key business functions through the cloud. the Covid-19 crisis. Covid-19 crisis. This approach can keep costs down, replacing outdated manual and on-prem systems with easy Interestingly, despite restricting IT budgets, 41 Andy Harcup, VP EMEA, Absolute Software told to access professional services, which will enable per cent of business decision makers admitted B365: “It beggars belief that businesses are the business to operate smoothly despite the that their remote working system for Covid-19 is slashing IT staff at a time when digital skills are Covid-19 chaos. Employers also need to reskill not compliant with the General Data Protection so critical for delivering eff ective remote working their staff to work remotely, off ering training Regulation. Furthermore, 45 per cent expect systems. It’s also worrying that such a high and mentoring to guide them, especially if new a company data breach to occur during the proportion of companies are allowing employees tools and processes are being introduced. For Covid-19 crisis, due to staff using personal to share confi dential company data on personal example, ensuring they know how they can devices, which are not properly protected. devices, using outdated apps as well as collaborate effi ciently. Despite these concerns, 44 per cent of knowingly operating in breach of GDPR rules. As for companies expecting data breaches or companies are aware that members of staff are With thousands of companies ordering brand security issues, this need not be the case if they using an outdated version of the Zoom video new laptops and tablet computers to support assess the software vendors they choose to conferencing app – which can cause severe remote working, it’s also crucial that that provide services carefully and if they adopt the security issues. Also, almost half (47 per cent) companies have the necessary cyber security right IT strategy to protect hardware. It is a simple have allowed members of staff to purchase their systems in place to ensure every device using but vitally important aspect to get right.” own laptops and tablets to work from home – the company network is patched, encrypted and many of which will not be properly protected or protected from outsider threats.” About the research connected to company IT servers. Sridhar Iyengar, MD, Zoho Europe added: Leonne International commissioned Censuswide to poll IT professionals play an important role in “Businesses should think twice before scaling 1,116 senior business decision makers from the UK, US managing the transition to remote working, down on IT expertise, particularly with lockdown and EU in April 2020. Sample sizes: US: 500, UK: 216, implementing new software, updating measures scheduled to remain in place for Germany: 200, and France: 200

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