100M Recovery Fund

www.business365iom.co.uk | AUGUST 2020 ISSUE

£100M RECOVERY UNEMPLOYMENT CELEBRITY CHEF FUND FALLS IN JUNE MASTER CLASS Treasury Minister Alfred Cannan has announced The number of people registered unemployed Guests of Standard Bank have been treated a £100m Economic Recovery Fund and unveiled was 400 in March, rising to 1,350 by the to a personalised dining experience in their measures to protect jobs, secure investment beginning of May. There are currently around own homes with a Michelin-star chef. Michel and enable growth as part of the Isle of Man’s 1,100 people registered as unemployed and Roux Jr gave a 90 minutes master class full of financial fightback from coronavirus. claiming Jobseeker’s Allowance. invaluable tips and tricks.

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business.sure.com Connectivity To be the best you need the Secure and resilient data connections worldwide. right team supporting you Voice & Mobile Future proof your business communications with business Sure’s technical expertise is mobile plans and IP Voice August just the start solutions. Managed Services Improve performance, eliminate downtime and lower costs. Our combination of local knowledge, global expertise and TREASURY’S £100M RECOVERY FUND close collaboration with market-leading industry partners 5 DC & Cloud ensures your business can benefit from the latest innovation Robust and secure offshore A comprehensive round-up of the latest business news BUDGET AT A GLANCE hosting via data centre and covering all sectors within the Isle of Man’s diverse and and technologies on island and throughout the world. cloud solutions. 7 dynamic business environment. Contact our locally based team to find out more. AGREEMENT SIGNED WITH GUERNSEY Security NATIONAL TRUST Protect your data in a secure 8 offshore environment with guaranteed data residency. Expert comment from leading figures within the WHY EUROPEAN EQUITIES COULD BE business community, on a variety of topical issues 9 COMING OUT OF LOCKDOWN across a range of sectors. ‘IT WAS THE FIRST TIME I’D FACED 12 A FINANCIAL CRISIS AND A HEALTH Looking at the people who keep the wheels of CRISIS AT THE SAME TIME’ - commerce turning on the Island; features, profiles, EXCLUSIVE B365 INTERVIEW WITH achievements and stories with a human dimension. WILL THORP - CEO STANDARD BANK OFFSHORE GROUP

ISLE OF MAN’S INTERNET EXCHANGE Who, what, where – a comprehensive appointments section keeping you abreast of all the movements within 13 GOES LIVE the business community. RECORD BREAKING FIRST HALF FOR TISE LifestyleHELPING YOU MAKE THE MOST OF WORK AND PLAY Lifestyle 18 Living a full and productive life is all about finding the right Support balance between work and play. Here at B365 we know C19: WHY LONG-TERM TECH the importance of both. Our new lifestyle section will 20 INVESTMENT PAYS OFF include regular topics covering travel, motoring, property,

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Getting the economy back on track The Treasury Minister’s emergency Budget is memorable not so much for the content of the package, but more for his bold reassurance that the Island is not going bust, and our finances are robust enough to withstand the seismic impact of the Coronavirus.

t’s a good starting point from which to launch a dearly, and the legacy of that inaction is an improve our national infrastructure, and we will recovery, and something Boris and his cohorts economy still crippled by the effects of ongoing actively invest now to support the development Iacross the water would walk on hot coals for. restrictive measures to deal with the virus, which of new sectors of our economy. That said the Manx economy faces serious is still rampant in some parts of the country. We will plant the seeds now that will bear fruit in issues, not least how to get people back to work Then there’s Brexit. If the UK leaves without a 2021 and beyond.’ and earning real wages after the life support of deal, as now seems likely, there will be another He is absolutely right and the priority now is MERA is switched off. significant financial tremor for an economy that’s to hit the ground running and launch these At the heart of Mr Cannan’s recovery strategy running on empty. campaigns without delay. is a £100 million Economic Recovery Fund. The Now nobody should take pleasure in benefiting Even taking into account the massive hit from hope is that the sum required will be much less, from the tribulations of others, but the reality is the pandemic the Isle of Man still has strong but that’s how much the government is prepared that the Isle of Man could, if it plays it cards right, reserves. Getting us out of difficult situations to spend to get the Island back on course for reap rewards from the fact that it’s own largely and supporting the needs of the people and prosperity. successful anti-Covid strategy makes the Island the economy is what they are for. When the Our primary obstacle to growth is our nearest an attractive place to be - from both a lifestyle time is right we can look to build them further, neighbour. The UK, our biggest trading partner, and a business perspective - a point not lost on but for the immediate future stashing cash in is in a mess. Unthinkable sums of money have the Treasury Minister, who stated: ‘We will look to the national piggy bank - a policy that’s been already been ploughed into various support capitalise on the opportunities our response to something of an obsession for previous Manx schemes, and hopes for a rapid V shaped the pandemic has given us – through enhanced administrations - is not on the agenda. Using recovery, seem to have evaporated. Failure marketing of the Island as a great place to live what we have to get the economy back on track, to act decisively with measures to contain the for entrepreneurs and business leaders. We will supported by prudent borrowing is the number Coronavirus early on have cost the country look to accelerate initiatives already underway to one priority.

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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. £100M ECONOMIC RECOVERY FUND TO HELP ISLE OF MAN’S FIGHTBACK FROM CORONAVIRUS PANDEMIC

Treasury Minister Alfred Cannan MHK has announced a £100m Economic Recovery Fund and unveiled measures to protect jobs, secure investment and enable growth as part of the Isle of Man’s ﬁ nancial ﬁ ghtback from coronavirus.

e confi rmed a new cross-government ‘Finally, we will invest in our future economic strategy, Economic Recovery Group has been seeking to understand the changing world around Hestablished and will start work immediately us, how this is likely to challenge us and where it may to co-ordinate action and reaction to the economic also present us with opportunities.’ conditions. During this morning’s sitting of Tynwald, Minister Minister Cannan told Tynwald Members: ‘We will Cannan delivered a comprehensive update on the continue to invest in our businesses using direct Island’s economic outlook in light of the challenges and indirect support. We will invest in our people by facing the public and private sectors in the immediate expanding the opportunities for developing core skills, aftermath of the pandemic. and standing ready to create up to 1,000 additional An appraisal of the Island’s fi scal position included retraining and employment opportunities, if needed. reassurance on the robust state of Government ‘We will invest in our island by accelerating investment reserves, as well as action being taken to enable programmes and schemes to improve our digital businesses and workers to look to the future with capabilities, speed up national high-speed broadband, confi dence. accelerate climate change commitments and improve Minister Cannan laid before Members Budget core infrastructure – being ready to support up to We will invest Update 2020, a document which includes revised 1,000 jobs and taking our Island forward to a greener, income and expenditure estimates following the in our future, cleaner future. Government’s sudden and swift response to the moving towards ‘We will invest in our economy, seeking and coronavirus pandemic. developing opportunities for our local businesses to an inclusive digital, In a foreword to the report, Minister Cannan says: grow and develop. We will invest in our future, moving green and safe ‘[Since setting out the Budget in February] the towards an inclusive digital, green and safe Island by Island has faced a challenge the likes of which are, Island. exploring ideas and accelerating delivery of major fortunately, rarely seen. The public and businesses initiatives that might take a little longer but can deliver rose to that challenge and I am pleased that the economic benefi t for years to come. Government, including the Treasury, was able to ‘We will look to capitalise on the opportunities our move quickly to support our community when it response to the pandemic has given us – through needed it. enhanced marketing of the Island as a great place ‘The cost to the public purse is likely to be signifi cant, to live for entrepreneurs and business leaders. We a change expected to be seen mostly through a will look to accelerate initiatives already underway to reduction in revenue. At this stage it is too early to improve our national infrastructure, and we will actively predict with any certainty the level of this reduction.’ invest now to support the development of new sectors of our economy. Additional net spending across all Government departments is forecast to reach a combined total of ‘We will plant the seeds now that will bear fruit in 2021 and beyond. Continued over the page...

| 5 just under £25m. Departmental targets will not An additional £900,000 will be spent on fi ve be amended, but budgets will continue to be projects while £6.2m will be brought forward to BUDGET UPDATE 2020 AT A GLANCE rigorously scrutinised. accelerate progress on nine more. To accommodate this forecast and enable Acknowledging the level of uncertainty that further fl exibility in the coming months, surrounds fi nancial planning, Treasury intends Treasury sought authorisation from Members to access short-term borrowing facilities in to approve a further £17.5m transfer into order to provide liquidity and maintain the Treasury proposes the creation the contingency fund, topping up the £40m ability to act quickly. In accordance with the The Council of Ministers has Research will be undertaken of a £100m Economic Recovery transferred earlier in the year. Loans Act 1974, permission was sought from commissioned a series of projects into how the Island can seize on Members to support Treasury’s intention to In addition to revised Departmental Fund to bolster businesses, enter into a revolving credit facility which could to stimulate the internal economy, opportunities presented by the estimates, the amount will be used to cover promote innovation, create provide up to £250m of alternative funding, if create and protect employment, crisis and, looking ahead, be well- the Government’s immediate response to training and employment required. the pandemic, most signifi cantly the range and provide investment in the placed as the global economy opportunities, and invest in the of fi nancial support packages created for Minister Cannan says: ‘Whilst I recognise this Island. settles over the coming months. businesses and workers. is the fi rst time in a long time that Government domestic economy. has taken this approach I believe it provides an Spending on multiple support packages as important element of fl exibility as we continue an initial response to the pandemic remains to meet the immediate fi nancial challenge and ongoing as activity resumes and they are then look to invest in the future.’ gradually phased out. The Budget Update 2020 includes details of how the cost At the same time as revising expectations for The Salary Support Scheme currently falls signifi cantly short of the amount the current fi nancial year, Budget Update 2020 Tynwald Members will be asked forecast when the measures were put in looks ahead at the economic outlook and and MERA have been extended to approve the transfer of £17.5m Treasury will seek approval from place. maintaining the Island’s fi scal strength over the for certain sectors through to medium and long-term. from the contingency fund - Tynwald Members to set up a Mr Cannan says: ‘Our challenge now is to September, providing further topping up the £40m transferred £250m revolving credit facility provide a platform for economic recovery Minister Cannan says: ‘The task of maintaining direct support to those involved and to provide transitional support as the our economic position will be neither easy nor earlier in the year - to cover the over two years and establish an in travel, tourism, and ﬁ sheries. economy moves towards the new normal. To quick and will require renewed long-term focus projected cost of coronavirus alternative source of liquidity, if do so we are extending the Salary Support on investing in and supporting our wealth- A £10m Working Capital Loan support packages as well as the required, to meet future ﬁ nancial Scheme for certain sectors through to generating businesses while continuing to look scheme will also be available to forecast shortfall in departmental challenges as they arise. September, providing further direct support to the family heartbeat of our society. enable businesses to resume to the hard hit travel, tourism and fi sheries ‘This Budget Update therefore proposes, on budgets set in February. sectors and making available working capital activity. top of the immediate support schemes already loans to help businesses restart.’ implemented, to create an Economic Recovery A review of the capital programme has been Fund by transfer of £100m from the general undertaken, with increased focus on an reserve. acceleration of schemes that support the ‘This will be used to fund a range of measures A review of the capital programme has been undertaken, with increased focus on an acceleration of schemes that support the economy. Departments were asked to identify to ensure we can move forward quickly to economy and local employment market. projects that could be delayed or deferred to invest where needed, to ensure support is ensure funding is channelled towards helping available if required and to build a platform for the Island’s recovery. an economic fi ghtback.’

To date, the Salary Support Scheme has supported 1,999 jobs and 12,295 businesses and paid out £27.5m; the Strategic Capacity Scheme has paid out £2.5m to 182 hotels and tourist accommodation providers; the Business Support Scheme has paid out Chamber of Commerce broadly welcomes Budget measures... £9.2M to 3,061 businesses; the Disruption Loan Scheme has backed £1.8m of loans for 37 applications, protecting 275 jobs. but wants more detail on business support packages

Between 1 March and 13 July the Manx Earnings Replacement Allowance paid out £3.4m, Income Support £8.3m, Job Seeker’s sle of Man Chamber of Commerce has A Chamber spokesperson told B365: for a signifi cant time. The Budget appears a little Allowance £2.2m and Incapacity beneﬁ t £1m. responded to the Budget by Treasury “Government has clearly recognised the need light in detail regarding how this concern will be IMinister Alf Cannan MHK. The Island’s biggest to focus on continuing to help some of the most addressed. Further, Chamber considers that other business network says that Government’s badly hit sectors of the economy. Obviously all important economic and fi nancial considerations decision to continue to provide support through businesses aff ected by the Covid crisis would such as the scale and cost of government, as well a number of schemes that are designed to help like to receive fi nancial support. However, it is as potential government reform, also need to be fi rms recover from the impact of the Covid crisis recognised that Government has to carefully addressed as a matter of priority. Chamber looks The number of people registered is clearly welcome news for those organisations manage public spending and that it must aim to forward to receiving more detail in relation to unemployed was 400 in March, that will benefi t from those schemes. In achieve a balanced approach, which is clearly these issues in the coming months.” More than £30m of Government Economic surveys have recently rising to 1,350 by the beginning particular, Chamber is pleased to see that the very diffi cult. taxation payments have been drawn feedback from 400 of May. There are currently schemes – which were set-up at the start of One concern we have is the question of how the Certain businesses and the crisis – will now be enhanced to more business support packages will be paid for in the deferred. businesses and 500 households. around 1,100 people registered accurately target the sectors or organisations medium and long term as it seems very likely that sectors will require support as unemployed and claiming that are most in need. certain businesses and sectors will require support for a signiﬁ cant time. Jobseeker’s Allowance.

6 | BUDGET UPDATE 2020 AT A GLANCE

Treasury proposes the creation The Council of Ministers has Research will be undertaken of a £100m Economic Recovery commissioned a series of projects into how the Island can seize on Fund to bolster businesses, to stimulate the internal economy, opportunities presented by the promote innovation, create create and protect employment, crisis and, looking ahead, be well- training and employment and provide investment in the placed as the global economy opportunities, and invest in the Island. settles over the coming months. domestic economy.

The Salary Support Scheme Tynwald Members will be asked and MERA have been extended to approve the transfer of £17.5m Treasury will seek approval from for certain sectors through to from the contingency fund - Tynwald Members to set up a September, providing further topping up the £40m transferred £250m revolving credit facility direct support to those involved earlier in the year - to cover the over two years and establish an in travel, tourism, and ﬁ sheries. projected cost of coronavirus alternative source of liquidity, if A £10m Working Capital Loan support packages as well as the required, to meet future ﬁ nancial scheme will also be available to forecast shortfall in departmental challenges as they arise. enable businesses to resume budgets set in February. activity.

A review of the capital programme has been undertaken, with increased focus on an acceleration of schemes that support the economy and local employment market.

To date, the Salary Support Scheme has supported 1,999 jobs and 12,295 businesses and paid out £27.5m; the Strategic Capacity Scheme has paid out £2.5m to 182 hotels and tourist accommodation providers; the Business Support Scheme has paid out £9.2M to 3,061 businesses; the Disruption Loan Scheme has backed £1.8m of loans for 37 applications, protecting 275 jobs.

Between 1 March and 13 July the Manx Earnings Replacement Allowance paid out £3.4m, Income Support £8.3m, Job Seeker’s Allowance £2.2m and Incapacity beneﬁ t £1m.

The number of people registered unemployed was 400 in March, More than £30m of Government Economic surveys have recently rising to 1,350 by the beginning taxation payments have been drawn feedback from 400 of May. There are currently deferred. businesses and 500 households. around 1,100 people registered as unemployed and claiming Jobseeker’s Allowance.

| 7 PUBLIC ENCOURAGED TO TAKE PART IN CYBER Agreement signed with SECURITY SURVEY he public is being encouraged to take part National Trust for Guernsey Tin a survey to measure awareness of cyber security in the Isle of Man. The survey, which launches today (7 July 2020), is part of the Isle of Man’s National Cyber Security Strategy which aims to protect the Island from cyber-attack and improve the resilience of critical digital infrastructure through collaboration with business and the public. The results of the Isle of Man Government’s 2019 cyber security survey informed a 12 month campaign to raise awareness of the importance of good practice for everyday online activities. The campaign will be extended following this year’s results and will inform further implementation of the strategy. Manx National Heritage (MNH), Biosphere status the Island holds highlights Cyber security is a shared responsibility between the charity responsible for the how special it is - with outstanding government, organisations, and citizens. Having care and promotion of the Isle landscapes, incredible biodiversity, medieval castles and heritage sites, and a clear understanding of current levels of of Man’s natural and cultural awareness is essential as a baseline measure, long stretching uninterrupted coastlines. heritage, has signed a reciprocal and will help with planning future activity. We have a rich 10,000 year history and a agreement with the National Trust unique culture which is narrated across for Guernsey. the spectacular Manx National Heritage sites, and it’s wonderful that members of AIRLINES ANNOUNCE he agreement comes in advance of the National Trust of Guernsey will get to STRATEGIC PARTNERSHIP the fi rst fl ights to and from Guernsey, avail of these for free. I’m sure many of our Tfollowing the announcement of an ‘air Islanders will be looking to take advantage here was a snippet of good news for the bridge ’between the two jurisdictions without of the agreement on their visit to Guernsey TIsle of Man’s troubled airport today after the need for self-isolation on arrival. also.’ Loganair and Blue Islands announced a strategic Under the terms of the agreement, Members Edmund Southworth, Director of Manx partnership that will enable passengers to use of the National Trust of Guernsey will benefi t National Heritage said: fl ights booked on both airlines on a single ticket. from free entry to properties under the care of Manx National Heritage. Eight sites will ‘We already have reciprocal arrangements in The arrangement will apply to a number of routes initially be available to visit on the Isle of Man place with a number of jurisdictions and as including the Isle of Man, several UK airports and including the Manx Museum, Castle Rushen, part of the International National Trust family the Channel Islands. Cregneash, Rushen Abbey, Peel Castle, continue to work with those organisations Isle of Man residents will be able to travel off House of Manannan, the Grove Museum who share our values and our love for the Island’s wildlife and heritage. Island without restriction from July 20th, though and the world famous Laxey Wheel. Two they will be required to quarantine for two weeks unique, self-catering properties owned by We’ve brought forward our discussions with on their return to the Isle of Man. It represents the Manx National Heritage are also available to Guernsey in light of the new “air bridge” and fi rst stage of the Manx Government’s fi ve- step book a stay at- Yn Thie Thooit, a 4* thatched I am delighted that we have been able to process to re-open the Island’s borders. cottage and Eary Cushlin, a 4* Gold rural agree things within a week. We very much holiday home. hope that the new agreement between

In Guernsey, Members (Friends) of Manx National Trust of Guernsey and Manx INCREASED INTEREST IN National Heritage will beneﬁ t from free entry to National Heritage will encourage Members the Folk and Costume Museum at Saumarez of both organisations to visit and enjoy each ISLE OF MAN FROM UK Park, the only pay-for-entry site managed other’s historic sites, leading to a deeper by National Trust of Guernsey, and Les Caches relationship going forward. BUSINESS OPERATORS Farm, a wonderful example of a mid-19th- We encourage visitors to Manx National he number of people and businesses century Guernsey farmhouse and barn. Heritage or National Trust of Guernsey sites Tenquiring into the possibility of moving to the Laurence Skelly MHK, Minister for Enterprise to please tag @manxnationalheritage and @ Isle of Man has show an increase, according to said: ‘I am delighted with the recent nationaltrustguernsey in your social media Enterprise Minister, Laurence Skelly. announcement by the Governments of feed so we can share stories of heritage travel between both destinations.’ Describing what he called a ‘good level of Guernsey and the Isle of Man and we cannot wait to welcome residents from the 'Flights operated by Aurigny between the interest’ the Minister said his department had Bailiwick of Guernsey to the Isle of Man. Isle of Man and Guernsey are now available received around nineteen expressions of interest The new air bridge is a major milestone to book online at www.aurigny.com and will in less than a month, none of which included for both jurisdictions and reﬂ ects how well run twice weekly until the end of August. people his department had already had contact both communities have responded to the Isle of Man residents not already a Member with. COVID-19 pandemic. of The Friends of Manx National Heritage It’s thought the ongoing Covid19 crisis and the ‘Whether for a week or short break, the Isle can help conserve and promote the Isle huge fi nancial hit taken by the UK economy of Man is the perfect choice to for those of Man’s culture and heritage, and take might encourage businesses and investors to looking to get away, providing opportunities advantage of the new Reciprocal Agreement look elsewhere. The Isle of Man could stand to for a relaxing break or an adventurous by becoming a Member from as little as benefi t due to its international focus, its relative holiday on land or sea. The UNESCO World £37.50 each year. economic.

8 | WHY EUROPEAN EQUITIES COULD BE COMING OUT OF LOCKDOWN European equities lagged the rest of the world quite badly during the last economic cycle, returning 10.6% annualised in sterling, compared to 16% for the world index. The periods of greatest underperformance were 2011 (when the eurozone was thought to be in danger of breaking up) and 2016 (the Brexit referendum). Investors voted with their feet to avoid the perceived political risk of the European Union.

European equities are now cheap in comparison President Macron of France have proposed a plan for the EU to issue joint bonds to help the countries that Despite some world-class companies, as a market Europe suffered most from the pandemic, with Italy and Spain at is relatively cheaper than the US because it lacks the the top. This brings a real possibility of a deal that could thriving technology sector that drives US markets. If you reduce the semi-permanent political risk premium for analyse European equities vs the US and the UK on a European equities. If this should be the case, the upside sector-by-sector basis, you also realise that the discount for European shares is large. suffered by European shares widened during and after the two periods of underperformance (2011 and 2016), European shares could also receive a boost from being without ever narrowing back. There is therefore a pent-up more ‘cyclical’ ‘return to normal’ valuation for European stocks, provided regional politics stops creating headlines. World stock markets have different make-ups: the US market is full of technology and healthcare; the UK has Is political risk in Europe finally subsiding? energy, materials and banks; but Europe has many cyclical businesses - those that tend to follow the ups and Investment involves risk. The The fight at the core of the most intra-European debate value of investments and the downs of economic cycles, such as industrial exporters is the distinction between the ‘frugal north’ and the income from them can go down and capital goods manufacturers. This makes European as well as up and you may not ‘spendthrift south’ - each with a different philosophy about equities highly volatile. get back the amount originally government borrowing. invested. Past performance is But with the recovery from lockdowns looking very strong, not a reliable indicator of future However, recent headlines have been more constructive some of the numbers for manufacturing surveys are performance. for the Euro area. Chancellor Merkel of Germany and very close to pre-COVID-19 levels. Obviously, services will remain challenged while we have to keep social distances, but industry is recovering fast so this is a To find out more please get in touch: backdrop against which European equities could do well. Quality businesses exist everywhere, but sometimes the DERMOT HAMILL make-up of a market is as important as the stock-picking Canaccord Genuity Wealth Management - and Europe may well be front and centre of a cyclical Tel: 01624 690 100 recovery. Email: [email protected] While trade war, Brexit and US election headlines may canaccordgenuity.com continue, Europe may finally offer a glimmer of hope. As Europe works to hold together and also boasts many cyclical businesses which could benefit from the current market recovery, we have decided to put our traditional reservations behind us. Alongside our thematic ESG (environmental, social and governance) ideas, we are also more positive about European equities for our clients’ discretionary portfolios. RL360 introduces SIPP RL360 has teamed up with a leading pension administration business to create a Self-Invested Personal Pension (SIPP) to be used with our single premium products.

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If death occurs before the age of 75, a benefi ciary can choose Key features: to take a UK tax free lump sum or transfer the SIPP into their Existing pensions can generally be transferred to an RL360 SIPP own name or an external pension scheme. from HMRC recognised schemes. Transfers are also possible If death occurs after age 75, the beneficiary can choose to from defi ned benefi t schemes (eg fi nal salary schemes). take the whole pot as a lump sum but this will be subject to a Please note that personal advice from a Financial Conduct UK tax charge at the marginal rate of the beneficiary or they Authority regulated adviser, with the appropriate pension transfer could transfer the SIPP into a pension arrangement in their own qualifi cations, is required. name which can be used to take an income via drawdown. Minimum initial contribution is GBP 20,000 with RL360’s Oracle Any income taken will be subject to UK income tax at the product as the underlying investment vehicle, or GBP 50,000 for benefi ciary’s normal rate. PIMS. If you’re transferring an existing pension to an RL360 SIPP there’s no requirement to make any additional contribution as Taxation long as the amount exceeds these minimum levels. Whilst the UK may not apply a tax charge to a payment from a A scheme member can make personal contributions to a SIPP, SIPP, other jurisdictions may do so. as can others including a spouse, parents or employer. A Double Taxation Agreement between the UK and the scheme member’s country of residence may also dictate which Who manages the investment held in the RL360 SIPP? jurisdiction has taxing rights over any payment received. A financial adviser must be appointed to manage the investments *The scheme member should always obtain tax advice specific within the SIPP. Neither RL360 nor Hartley Pensions are investment to the jurisdiction where they are tax resident to understand the advisers or managers, nor do they give any financial or tax advice. tax consequences of any payment they request.

10 | Our 40 day notice account can make all the difference

to your savings GROSS PA / AER VARIABLE*

If you don’t need immediate access to your savings, then our International 40 Day Notice Account could be an attractive option. This variable rate product from a respected award winning bank RL360 introduces SIPP benefits from attractive rates of interest. RL360 has teamed up with a leading pension administration business to create a Interest is paid annually. Other variable and fixed interest rate Self-Invested Personal Pension (SIPP) to be used with our single premium products. savings accounts are available. Call our friendly savings team now for more information, he RL360 SIPP can either be set up entirely online, a What types of assets can be held within the SIPP? or apply online at www.skiptoninternational.com Tmajor plus given the current Covid-19 crisis, or via a paper The standard RL360/SIPP asset acceptance rules apply to any application form. It is also more cost effective than other investments or fund links made available through the Oracle pension schemes. and PIMS products. Residential and commercial property The SIPP will be managed by Hartley Pensions, experts with a cannot be held. Call (0)1481 730730 strong track record in this fi eld. It is open to both UK and non-UK residents and will be perfect for those clients who want to carry www.skiptoninternational.com When can SIPP beneﬁ ts be accessed? PO Box 509, Tudor House, The Bordage, St Peter Port, Guernsey GY1 6DS out a pension transfer or begin funding their retirement. The earliest age a scheme member can start taking money A SIPP is a tax-efficient investment vehicle intended to provide from their SIPP is 55 (due to rise to 57 in 2028) unless they are benefits in retirement. The investment component of the RL360 Rate shown for balances between £10,000 and £5,000,000. Rates correct as 27 April 2020. *AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year. Skipton International Limited (Skipton) in serious ill health, as defined by the Finance Act 2004. is licensed by the Guernsey Financial Services Commission and is registered in Guernsey: 30112. Skipton is a wholly owned subsidiary of Skipton Building Society. Skipton is licensed under the Banking Supervision (Bailiwick of Guernsey) Law, 1994, as amended. SIPP is restricted to RL360 products only. Skipton is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for ‘qualifying deposits’ up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details are available on the Scheme’s website www.dcs.gg or on request. Skipton is not licensed by the Isle of Man (IOM) Financial Services Authority and deposits made with Skipton are not covered by the IOM Depositors Compensation Scheme. To Neil Chadwick, RL360’s Head of Technical Services, said: ‘In help maintain service and quality, telephone calls may be recorded and monitored. How can beneﬁ ts be taken? conjunction with Hartley Pensions, we are really pleased to be able to offer advisers the choice of an alternative pension Scheme members can drawdown up to 25% of their SIPP free product that enables the application and ongoing servicing of of UK tax from the age of 55 as a Pension Commencement the scheme to be done entirely online. Lump Sum (PCLS), but the remaining pot must form a ‘drawdown plan’. From 2028, PCLS can only be accessed from ‘Recent months have demonstrated the importance of being age 57. able to make people’s lives as easy as possible and we believe JOIN US this is a major step in the right direction.’ After taking a PCLS, there is the option to have complete flexibility (known as ‘flexi-access’) as to how a scheme member ONLINE! Michael Baber, Technical Director at Hartley Pensions, added: draws down from their plan (i.e. any combination of lump sums ‘We are really pleased to be working closely with RL360, we or monthly payment), but each drawdown will be taxed at the pride ourselves on establishing and maintaining long-lasting member’s normal UK income tax rate, irrespective of whether relationships with our business partners and clients by providing lump sums or regular income is taken. them with professional, friendly and personalised administration services. Our products are designed to be flexible, straight- forward and relevant to our clients’ needs.’ What happens to the SIPP on the death of the scheme member?

If death occurs before the age of 75, a benefi ciary can choose Key features: to take a UK tax free lump sum or transfer the SIPP into their Existing pensions can generally be transferred to an RL360 SIPP own name or an external pension scheme. from HMRC recognised schemes. Transfers are also possible If death occurs after age 75, the beneficiary can choose to from defi ned benefi t schemes (eg fi nal salary schemes). take the whole pot as a lump sum but this will be subject to a Please note that personal advice from a Financial Conduct UK tax charge at the marginal rate of the beneficiary or they Authority regulated adviser, with the appropriate pension transfer could transfer the SIPP into a pension arrangement in their own qualifi cations, is required. name which can be used to take an income via drawdown. Minimum initial contribution is GBP 20,000 with RL360’s Oracle Any income taken will be subject to UK income tax at the product as the underlying investment vehicle, or GBP 50,000 for benefi ciary’s normal rate. PIMS. If you’re transferring an existing pension to an RL360 SIPP there’s no requirement to make any additional contribution as Taxation long as the amount exceeds these minimum levels. Whilst the UK may not apply a tax charge to a payment from a A scheme member can make personal contributions to a SIPP, SIPP, other jurisdictions may do so. as can others including a spouse, parents or employer. A Double Taxation Agreement between the UK and the Leading the way across all platforms scheme member’s country of residence may also dictate which The Isle of Man’s leading business and lifestyle publication now has its own exciting new website at Who manages the investment held in the RL360 SIPP? jurisdiction has taxing rights over any payment received. www.business356iom.co.uk. Containing daily news updates, features and information A financial adviser must be appointed to manage the investments *The scheme member should always obtain tax advice specific within the SIPP. Neither RL360 nor Hartley Pensions are investment to the jurisdiction where they are tax resident to understand the pertinent to both the business community and the Island at large – bookmark us today! advisers or managers, nor do they give any financial or tax advice. tax consequences of any payment they request.

| 11 EXCLUSIVE

‘It was the ﬁ rst time I had faced a ﬁ nancial crisis and a health crisis at the same time’

Will Thorp, CEO Standard Bank Off shore Group

Adapting to the new normal is an over-used phrase in respect of the consequences of the Coronavirus pandemic. The truth is that for businesses the past few months have involved massive upheaval and changes to working practices. Business365 editor, Simon Richardson, has been talking exclusively to Standard Bank Oﬀ shore Group’s Chief Executive Oﬃ cer, Will Thorp, about the journey the company has been on, and how it has had to adapt in the face of an unparalleled crisis.

tandard Bank Off shore Group has bases constant communication with its employees The involvement of all the staff at the Banks in the Isle of Man, Jersey and Mauritius. It’s to monitor their views on working from home off shore locations in the many procedural Sa dynamic and successful business with and checking on morale: “Clearly it’s not for changes introduced has been a key factor a strong reputation for integrity and customer everybody, but many have expressed the throughout: “Our people feel revitalised in service. When the pandemic arrived the business view that they would like to see home working some ways. We have constantly sought their knew it had to react swiftly. Will Thorp takes up become part of how we operate,” explained Will. feeback and it’s been very positive from a morale the story: “It was extremely hard. It was the fi rst The seismic changes to working practices perspective,” said Will. time in my career I had faced a fi nancial and a around the world will almost certainly make Elsewhere the company’s parent in Africa is at a health crisis at the same time. Our fi rst priority companies also re-assess their ‘bricks and diff erent phase of the pandemic. Cases in South had to be the safety of our employees, and mortar’ requirements. Will was frank in his Africa have been soaring of late, and there are looking back I think we should all be proud of acknowledgement that Standard Bank Off shore, worrying signs in many other African countries: our quick response. We reverted to a work from is no diff erent: “Yes, like many other companies “It’s certainly diffi cult across the country in South home model, which we introduced well ahead of we are now looking at our bricks and mortar in the Africa at the present time. As here, the priority the curve.” Isle of Man, Jersey and Mauritius. Looking ahead is to keep people safe. They are eff ectively The company benefi tted from an earlier decision it may be that we reduce square footage, or look going through the same procedures we have to create a ‘Cloud Ready’ operating environment. at how we use the offi ce space. It’s not just about followed,” explained Will. coming into an offi ce to sit behind desks, people Within a remarkably short space of time the Looking long-term Will believes the pandemic want to use the space in diff erent ways. technology required to switch to a working will continue to aff ect economies around the from home model was in place, along with “I certainly don’t want to play down the globe: “Behavioural impacts will last for a long the all-important cyber security protocols. The seriousness of the pandemic, but from a business period, though some will be positive.” groundwork to enable the business to migrate perspective we see a lot of positivity from what As an outsider looking in Will is full of praise for to the Cloud had been done during the previous we’ve been through. We have had to think the way in which the Isle of Man has handled two years: “It meant the changes were not so seriously about how we better engage with our the Coronavirus pandemic: “Clearly Islands have dramatic. Had the pandemic happened a couple own teams and our customers. It’s brought about a diff erent dynamic, but from what I’ve seen of years earlier it would have been extremely more collaboration across the board.” diffi cult,” added Will. and heard from our people on the Island, the A recent example of this new engagement was government there has dealt with it well. They Now, with the crisis easing, Standard Bank a live, interactive Zoom event involving staff and have continued to adopt a cautious approach in Off shore remains wary: “We are cautious about clients with celebrated chef, Michele Roux Junior terms of borders, and for good reason.” rushing back into the offi ces, and looking longer at his famous Gavroche Restaurant in London: term I’m sure the work from home model will “We all took part from our own kitchens and it become part of our business going forward.” was a great success, everybody loved it,” said Simon Richardson was talking to Will Thorp, CEO Throughout the crisis the Bank has been in Will. (See page 31) Standard Bank Oﬀ shore Group.

12 | EXCLUSIVE ISLE OF MAN’S INTERNET EXCHANGE LAUNCHED ‘It was the fi rst time I had ManxIX builds internet resilience in the Isle of Man ManxIX has launched as the internet exchange on the Isle of Man. The not-for-profi t fully independent faced a fi nancial crisis interconnection point off ers a low cost, accessible platform to allow island traffi c to stay local and for global networks to be accessible to its members. and a health crisis at Professor Adam Beaumont, Chairman of ManxIX told B365: “Whilst the Island has strong digital aspirations, these cannot be the same time’ achieved whilst the cost of global connectivity remains high. To bring down this cost, we must create a competitive marketplace on the Will Thorp, CEO Standard Bank Off shore Group Island. An internet exchange is an important fi rst move in this initiative. A few short years after establishing the exchange in Leeds, the costs of wholesale data dropped to the same low prices as the major European Adapting to the new normal is an over-used phrase in respect of the consequences of the internet cities such as London, Frankfurt and Amsterdam. We want to do the same for Coronavirus pandemic. The truth is that for businesses the past few months have involved the Island.” massive upheaval and changes to working practices. Reacting to the news, Treasury Minister,Alfred Cannan MHK, said: “The Isle of Man is Business365 editor, Simon Richardson, has been talking exclusively to Standard Bank Off shore home to a rapidly expanding digital industry, Professor Adam Beaumont Group’s Chief Executive Offi cer, Will Thorp, about the journey the company has been on, and particularly in new technologies such as AI, Blockchain and Reg-Tech. The exchange how it has had to adapt in the face of an unparalleled crisis. anxIX founder and Bluewave will allow faster routing of internet traffi c on MCommunications CEO, Professor the island, providing more effi cient video tandard Bank Off shore Group has bases constant communication with its employees The involvement of all the staff at the Banks Adam Beaumont was also the co-founder of the collaboration, better access to high defi nition in the Isle of Man, Jersey and Mauritius. It’s to monitor their views on working from home off shore locations in the many procedural UK’s fi rst outside-of-London internet exchange content and also provide an important Sa dynamic and successful business with and checking on morale: “Clearly it’s not for changes introduced has been a key factor in Leeds during 2008. This exchange has component in rolling out 5G connectivity. The a strong reputation for integrity and customer everybody, but many have expressed the throughout: “Our people feel revitalised in transformed digital growth in the city and internet exchange is a great example of private service. When the pandemic arrived the business view that they would like to see home working some ways. We have constantly sought their region over the past decade, bringing content sector cooperation for the benefi t of all.” knew it had to react swiftly. Will Thorp takes up become part of how we operate,” explained Will. feeback and it’s been very positive from a morale networks such as those who deliver Youtube, Manx1X founding Board the story: “It was extremely hard. It was the fi rst perspective,” said Will. Apple, Facebook and others, together with the The seismic changes to working practices member, Shelley Langan-Newton stated: “As time in my career I had faced a fi nancial and a ISP networks that deliver to the end user. This around the world will almost certainly make Elsewhere the company’s parent in Africa is at a the use of the internet continues to increase health crisis at the same time. Our fi rst priority has attracted high profi le businesses to Leeds, companies also re-assess their ‘bricks and diff erent phase of the pandemic. Cases in South notably the move of Channel 4 from London, at a rapid rate, so does the need for networks had to be the safety of our employees, and to be able to exchange traffi c or peer more mortar’ requirements. Will was frank in his Africa have been soaring of late, and there are along with much of its supporting ecosystem. looking back I think we should all be proud of acknowledgement that Standard Bank Off shore, worrying signs in many other African countries: eff ectively. ManxIX has been founded to Having an internet exchange on the our quick response. We reverted to a work from is no diff erent: “Yes, like many other companies “It’s certainly diffi cult across the country in South off er one of the most cost-eff ective peering island not only makes traffi c routing more platforms in the industry while enabling service home model, which we introduced well ahead of we are now looking at our bricks and mortar in the Africa at the present time. As here, the priority effi cient, keeping local traffi c moving quickly providers to improve performance, speed the curve.” Isle of Man, Jersey and Mauritius. Looking ahead is to keep people safe. They are eff ectively and effi ciently between island residents on the and reliability. It also brings great value to The company benefi tted from an earlier decision it may be that we reduce square footage, or look going through the same procedures we have island, but also provides better quality access the island by attracting some of the biggest at how we use the offi ce space. It’s not just about to create a ‘Cloud Ready’ operating environment. followed,” explained Will. to media content. network operators in need of interconnection Within a remarkably short space of time the coming into an offi ce to sit behind desks, people Looking long-term Will believes the pandemic Along with building an internet exchange capability to the Isle of Man. We’re also on technology required to switch to a working want to use the space in diff erent ways. will continue to aff ect economies around the comes other resilience benefi ts. As part of the lookout for new board members to join us from home model was in place, along with “I certainly don’t want to play down the globe: “Behavioural impacts will last for a long the exchange fabric, the Island is also gaining on our quest for the good of the internet.” the all-important cyber security protocols. The ManxIX has seriousness of the pandemic, but from a business period, though some will be positive.” its own ‘root nameservers’, helping the The internet exchange will provide a groundwork to enable the business to migrate perspective we see a lot of positivity from what traffi c keep operating on the Island should As an outsider looking in Will is full of praise for been founded Layer-2 platform for network operators to the Cloud had been done during the previous we’ve been through. We have had to think there be a loss of off -Island connectivity and and content providers to connect and the way in which the Isle of Man has handled two years: “It meant the changes were not so seriously about how we better engage with our to o er one decreasing the reliability on London based share Internet Protocol (IP) traffi c and help the Coronavirus pandemic: “Clearly Islands have dramatic. Had the pandemic happened a couple own teams and our customers. It’s brought about infrastructure. Bluewave has also recently drive down the costs of the internet on the a diff erent dynamic, but from what I’ve seen of the most of years earlier it would have been extremely more collaboration across the board.” established a high bandwidth route straight island. Initial connected parties include diffi cult,” added Will. and heard from our people on the Island, the from the heart of the island into their main data Bluewave, aql, Google and several root A recent example of this new engagement was cost-e ective government there has dealt with it well. They hub for the north of the UK. nameserver operators. Now, with the crisis easing, Standard Bank a live, interactive Zoom event involving staff and have continued to adopt a cautious approach in peering Off shore remains wary: “We are cautious about clients with celebrated chef, Michele Roux Junior terms of borders, and for good reason.” To fi nd out more about becoming a member of ManxIX, please visit: http://manxix.im/. rushing back into the offi ces, and looking longer at his famous Gavroche Restaurant in London: platforms in the Connectivity to the exchange can be achieved via any of the aql or BlueWave carrier term I’m sure the work from home model will “We all took part from our own kitchens and it industry. neutral sites. Any operator with a presence on these sites will benefi t from a free become part of our business going forward.” was a great success, everybody loved it,” said Simon Richardson was talking to Will Thorp, CEO interconnect installed to the exchange. Throughout the crisis the Bank has been in Will. (See page 31) Standard Bank Off shore Group. Shelley Langan-Newton

| 13 THRIVING NOT SURVIVING n the 24th of March I came back to the Island from a business trip just in the nick of time before the borders closed and went into quarantine at home. PDMS had already abandoned the office and we were starting to see how well we Owould cope with a very different working and business environment. Four months on, I am very glad I made it back to the Island and it is great to be somewhere that feels so safe and normal but we are in the minority and our economic recovery cannot happen in isolation. In line with the rhetoric from progressive governments around the world we are hoping to “build back better” with a focus on Green, Digital and Safe. This article is perhaps an early reflection on what we have learned from being forced to change the way businesses operate and how this might allow us to thrive and not just survive. n BY CHRIS GLEDHILL, Managing Director, PDMS Going digital ‘Digital’ was already a theme prior to lockdown but now in our ‘new normal’ These rules are more honoured in the breach than in the observance, it has enjoyed an incredible acceleration in the practical application of the particularly in larger organisations, and, from my own personal experience, tools we already had. Necessity was indeed the mother of invention (or at the banking sector. least adaptation) but in life post the crisis phase, the key to thriving is to cash Just as trust is vital to individual businesses, the role of regulation in in on the productivity benefits of a ‘digital by default’ approach. the creation of trust is one of the most important aspects of economic The fall out of digital productivity is a short-term threat to those with jobs in development at a jurisdictional level. Rather than being an imposition, good administrative roles but failure to remain competitive is a threat to the whole regulation is a constructive partnership between business and government. economy. So how do you make digital transformation work for the people Good regulation creates trust in the products being regulated and should be who feel most threatened by it? technology agnostic. Up until now, digital innovation has mostly been a story of disruptive For regulated sectors to thrive in a digital world, regulation and supervision start-ups trying to challenge the business models of established sectors. needs to be in tune with a ‘digital by default’ approach to compliance. Rather Typically, large established organisations work on the basis that they have than viewing digital systems as intrinsically riskier, the question should been doing this for years and consequently they know best, yet they actually be ‘why is this process still paper based?’ This way, the onus is not almost always underestimate the willingness of consumers to adopt new just on the regulator but also on industry groups who need to collaborate to technology and consequently squander their advantages of scale. That is identify those ares of digital best practice which they can agree and adopt until COVID-19 hit and the whole world had to look at digital innovation as collectively. a matter of urgency. Thriving in the digital world Regardless of whether you are doing business face to face or online, trust Thriving for a business means doing more business at less cost and thriving is usually the single most important factor when it comes to closing a sale. for an employee means more remunerative, flexible and rewarding work. Trust is won through compliance with regulations and through consistent Thriving for customers means doing business with organisations we trust to application of a company’s values in every single interaction that a business provide products and services which meet our needs, represent good value, has with its clients. The single most important technology for generating and are designed in our long-term best interest. trust is HI (human intelligence – of course!), which unlike AI, excels in empathetic communication. Digital solutions designed without HI are To thrive in a more digital, greener and safer business climate, we all need unlikely to increase trust in anything but the most mechanical interaction. to understand and design our systems around the people we employ and the people they serve. Digital does not mean no human interaction - it The digital customer experience should mean better, more enjoyable human interactions not based solely on Optimisation of HI of course should be the core principle for digital completing administrative tasks such as KYC, which should be easy to do transformation. If businesses want to thrive rather than just survive in the online. Similarly, business travel should be a lot less frequent and a lot more digital economy, systems must be designed to generate trust. Trust must pleasant. particularly come from the two stakeholder groups that success depends One of the most surprising things that we have experienced during the on most - staff and their customers. last few months is how much more we have been able to engage with our Staff need to see how digital transformation and therefore greater international colleagues and organisations because suddenly location is less productivity will benefit them rather than threaten their jobs. Customers important than bandwidth. Personally, I have been able to contribute far more need to see that they are getting better value for money and an enhanced to organisations like TechUK where I sit on the Central Government Council - customer experience whichever way they choose to interact. this has been achieved at a fraction of the cost, with no air miles and with far It may seem blindingly obvious but there are a couple of golden rules for less disruption to the day job. In fact, looking at PDMS as a business overall, generating a good customer experience which makes the best use of we have found that while we have all worked from home, our productivity and technology and people: activity levels have improved while costs and our carbon footprint have been significantly reduced. n Never make people provide the same information more than once, ever ideally, but definitely not on the same call! This totally erodes trust in the Not all of the cost savings achieved will be sustainable or even desirable in the competence and cohesion of the underlying systems. long term but we will certainly be expecting to travel a bit less, do more with our time and use our people and our places more flexibly and productively n Think of business processes as pathways which people can follow com- in future. My personal experience with TechUK was that prior to lockdown, fortably – good signposting, manageable steps and a clear goal will help committee membership was heavily skewed towards people who could to keep people moving. easily attend meetings in London in person and, although lip service was paid n Don’t use people to do the job of a computer and vice versa. Computers to supporting remote attendance, it was a pretty poor experience. However, are good at following scripts, people are good at communicating and when lockdown happened, TechUK had to embrace the change and I have making decisions based on incomplete information. Well trained and already seen a difference to the balance of geographical contributions to empowered staff are brilliant at dealing with unusual problems. meetings. This trend, if sustained, can only be good for Isle of Man PLC!

14 | THRIVING NOT SURVIVING n the 24th of March I came back to the Island from a business trip just in the nick of time before the borders closed and went into quarantine at home. PDMS had already abandoned the office and we were starting to see how well we Owould cope with a very different working and business environment. Four months on, I am very glad I made it back to the Island and it is great to be somewhere that feels so safe and normal but we are in the minority and our economic recovery cannot happen in isolation. In line with the rhetoric from progressive governments around the world we are hoping to “build back better” with a focus on Green, Digital and Safe. This article is perhaps an early reflection on what we have learned from being forced to change the way businesses operate and how this might allow us to thrive and not just survive. n BY CHRIS GLEDHILL, Managing Director, PDMS Going digital ‘Digital’ was already a theme prior to lockdown but now in our ‘new normal’ These rules are more honoured in the breach than in the observance, it has enjoyed an incredible acceleration in the practical application of the particularly in larger organisations, and, from my own personal experience, tools we already had. Necessity was indeed the mother of invention (or at the banking sector. least adaptation) but in life post the crisis phase, the key to thriving is to cash Just as trust is vital to individual businesses, the role of regulation in in on the productivity benefits of a ‘digital by default’ approach. the creation of trust is one of the most important aspects of economic The fall out of digital productivity is a short-term threat to those with jobs in development at a jurisdictional level. Rather than being an imposition, good administrative roles but failure to remain competitive is a threat to the whole regulation is a constructive partnership between business and government. economy. So how do you make digital transformation work for the people Good regulation creates trust in the products being regulated and should be who feel most threatened by it? technology agnostic. Up until now, digital innovation has mostly been a story of disruptive For regulated sectors to thrive in a digital world, regulation and supervision start-ups trying to challenge the business models of established sectors. needs to be in tune with a ‘digital by default’ approach to compliance. Rather Typically, large established organisations work on the basis that they have than viewing digital systems as intrinsically riskier, the question should been doing this for years and consequently they know best, yet they actually be ‘why is this process still paper based?’ This way, the onus is not almost always underestimate the willingness of consumers to adopt new just on the regulator but also on industry groups who need to collaborate to technology and consequently squander their advantages of scale. That is identify those ares of digital best practice which they can agree and adopt until COVID-19 hit and the whole world had to look at digital innovation as collectively. a matter of urgency. Thriving in the digital world Regardless of whether you are doing business face to face or online, trust Thriving for a business means doing more business at less cost and thriving is usually the single most important factor when it comes to closing a sale. for an employee means more remunerative, flexible and rewarding work. Trust is won through compliance with regulations and through consistent Thriving for customers means doing business with organisations we trust to application of a company’s values in every single interaction that a business provide products and services which meet our needs, represent good value, has with its clients. The single most important technology for generating and are designed in our long-term best interest. trust is HI (human intelligence – of course!), which unlike AI, excels in empathetic communication. Digital solutions designed without HI are To thrive in a more digital, greener and safer business climate, we all need unlikely to increase trust in anything but the most mechanical interaction. to understand and design our systems around the people we employ and the people they serve. Digital does not mean no human interaction - it The digital customer experience should mean better, more enjoyable human interactions not based solely on Optimisation of HI of course should be the core principle for digital completing administrative tasks such as KYC, which should be easy to do transformation. If businesses want to thrive rather than just survive in the online. Similarly, business travel should be a lot less frequent and a lot more digital economy, systems must be designed to generate trust. Trust must pleasant. particularly come from the two stakeholder groups that success depends One of the most surprising things that we have experienced during the on most - staff and their customers. last few months is how much more we have been able to engage with our Staff need to see how digital transformation and therefore greater international colleagues and organisations because suddenly location is less productivity will benefit them rather than threaten their jobs. Customers important than bandwidth. Personally, I have been able to contribute far more need to see that they are getting better value for money and an enhanced to organisations like TechUK where I sit on the Central Government Council - customer experience whichever way they choose to interact. this has been achieved at a fraction of the cost, with no air miles and with far It may seem blindingly obvious but there are a couple of golden rules for less disruption to the day job. In fact, looking at PDMS as a business overall, generating a good customer experience which makes the best use of we have found that while we have all worked from home, our productivity and technology and people: activity levels have improved while costs and our carbon footprint have been significantly reduced. n Never make people provide the same information more than once, ever ideally, but definitely not on the same call! This totally erodes trust in the Not all of the cost savings achieved will be sustainable or even desirable in the competence and cohesion of the underlying systems. long term but we will certainly be expecting to travel a bit less, do more with our time and use our people and our places more flexibly and productively n Think of business processes as pathways which people can follow com- in future. My personal experience with TechUK was that prior to lockdown, fortably – good signposting, manageable steps and a clear goal will help committee membership was heavily skewed towards people who could to keep people moving. easily attend meetings in London in person and, although lip service was paid n Don’t use people to do the job of a computer and vice versa. Computers to supporting remote attendance, it was a pretty poor experience. However, are good at following scripts, people are good at communicating and when lockdown happened, TechUK had to embrace the change and I have making decisions based on incomplete information. Well trained and already seen a difference to the balance of geographical contributions to empowered staff are brilliant at dealing with unusual problems. meetings. This trend, if sustained, can only be good for Isle of Man PLC! FOUR-IN-TEN BUSINESSES DON’T HAVE AN EMERGENCY PLAN IN PLACE FOR RANSOMWARE ATTACKS

Despite increase in cases during lockdown, one-in-fi ve admit they couldn’t access a working backup of their data if required

Ontrack, the world’s yberattacks and data breaches can have clicking on ransomware- infected links that they serious implications for organisations wouldn’t click if they were in the offi ce.” leading data recovery in terms of downtime, fi nancial damage C Whilst there are numerous benefi ts, the and reputation of the business. Ransomware service provider, has remote working seen during lockdown can attacks that seek to encrypt a victim’s data revealed that four-in-ten leave a business’s IT network and systems and demand a fee to restore it continue to be vulnerable. It adds a huge number of endpoints (39%) of organisations prevalent. Unfortunately, the damage caused to organisations that may not have been there can be severe and widespread. The largest either have no previously. Plus, many of them are considered ransomware attack to date – WannaCry – was ransomware emergency ‘shadow IT’ and have not been vetted by the estimated to have aff ected more than 200,000 employer. plan in place or are not computers across 150 separate countries. aware if one exists. Ransomware today is rife and has been “The threat of ransomware has never been greater. The fact that only 39% of respondents This is despite more exacerbated by the current work-from-home trend. to our survey have an emergency plan in place ransomware attacks for a ransomware attack is shocking. They are One-in-fi ve (21%) of the survey respondents said gambling with their and their customer’s data. being recorded in the they had experienced a ransomware attack, It is imperative, now as ever, to ensure your and of those, over a quarter (26%) admitted they past 12 months than organisation has processes and procedures in couldn’t access any working backup after the place to mitigate the impact of any cyber-attack ever before. attack. Even when organisations could access a and protect sensitive data,” adds Bridge. working backup, 22% of them could either only restore a partial amount of data or none at all. As part of the research, Ontrack surveyed 484 organisations from France, Germany, Italy, Spain, In most countries, employees have been the UK and the US. working under a completely diff erent set of parameters for a couple of months; ones where new security risks are high and where cybercriminals are fi nding new ways to exploit Whilst there are any weaknesses they can fi nd. numerous beneﬁ ts, the “We have seen a sharp increase in the number remote working seen of ransomware cases since lockdown began,” comments Philip Bridge, president of Ontrack, during lockdown can leave LLC. “Unfortunately, this is at a time when more a business’s IT network and distractions at home have led to an increased amount of complacency by staff . For example, systems vulnerable.

16 | HSBC APP PHISHING SCAM TARGETING WORKERS USING SMS DURING COVID19 OUTBREAK UK workers are being targeted by a new SMS phishing scam designed to trick victims into handing over details of their HSBC bank account.

he scheme, uncovered by litigation Chris Ross, SVP, Barracuda Networks told Andy Harcup, VP, Absolute Software said: “The specialists Griffi n Law, begins with a B365: “This is the latest in a long line of Covid-19 outbreak has led to a sharp rise in T text message purporting to be from increasingly sophisticated phishing scams, phishing scams, with fraudsters impersonating HSBC, the multinational banking and fi nancial designed to trick the victim into handing over banks in order to extract personal fi nancial services organisation, telling the target that their personal fi nancial details. As so often details of victims, many of whom are under ‘a new payment has been made’ through the with these schemes, the text message is extreme fi nancial pressure. Failure to identify HSBC app on their phone. The message tells designed to frighten the recipient into clicking and block these kinds of attacks could lead the victim that if they were not responsible on the link and entering their username and to severe data breaches for businesses, for the payment, they should go to a site password without reviewing the legitimacy of particularly if the recipient of the request called “Security.hsbc.confi rm-systems.com” to the URL. hands over usernames and passwords to the validate their bank account. company account. With millions of people Increasingly, we are seeing examples of cyber now working from home for the foreseeable They are then directed to a fake landing criminals using the branding of major banks to future, often using personal phones and newly page, which asks for their username and create realistic-looking fake websites, in order purchased laptops, the threat posed by hackers password, followed by a series of verifi cation to extract personal fi nancial information, often is higher than ever. Addressing this issue steps. The fraudulent site, which uses offi cial catching the victim’s attention by warning requires a robust system in place to protect the HSBC branding, then asks for specifi c them about unauthorised payments from their end-points in use across the company network, account details and personal data of the account. to ensure that the latest encryption and security individual. Tackling this problem requires all companies updates are installed and to track, freeze and Griffi n Law’s research team, which liaises and their employees to remain vigilant wipe devices in the event of loss or theft, with over a dozen accountancy groups and against such scams. SMS messages are keeping hackers locked out.” fi nancial support teams across London has often used by criminals to catch workers off - seen a spike in reports of the scam, with an guard, using their personal mobile number. estimated 47 people coming forward to say Ensuring security awareness within the they have received the text message so far. workforce is also critical, and it’s important Increasingly, we are

Some workers have identifi ed the scam due that all employees are trained about how seeing examples of cyber to the fact that they do not even have a HSBC these schemes operate as well as how SMS criminals using the branding of app installed on their phone. messages can be exploited as part of a wider phishing scheme designed to steal company major banks to create realistic- There have been no current reports of the funds and data.” scam being successful. looking fake websites.

| 17 "I’m delighted not only with the growth of the business but also with the employment opportunities which we have been able to create"

FIONA LE POIDEVIN, CEO OF TISEG

Record breaking fi rst half for TISE, despite COVID-19 There were more new listings on The International Stock Exchange (TISE) during the ﬁ rst six months of 2020 than in the same period of any other prior year since the business was established in 1998.

here were 390 securities admitted to the opportunistic or essential, as well as greater become the leading European listing venue for TOffi cial List of TISE during the fi rst half of this proportions of securitisations and high yield high yield bonds. The total number of securities year, despite the backdrop of the coronavirus bonds. What remains to be seen is whether listed on TISE has grown from 2,274 at the end (COVID-19) global pandemic. This represents a any delayed impacts from COVID-19 or any of December 2014 to 3,030 at the end of June rise of more than 60% on the same time in 2019. resurgent uncertainty surrounding the future 2020, with a total market value of more than Fiona Le Poidevin, CEO of The International UK-EU relationship result in a slowdown in listing £400 billion. In that period, there has also been approximately a 50% rise in the number of full- Stock Exchange Group (TISEG), said: “Last year activity during the second half of the year.” time employees across the business. the uncertainty created largely by Brexit led Mrs Le Poidevin leaves TISE on 27 July, to subdued levels of listing activity during the after more than fi ve and a half years at the Mrs Le Poidevin said: “I’m delighted not only fi rst half of 2019. This then gave way to a much helm, to take up a portfolio of non-executive with the growth of the business during the stronger performance during the second half of directorships. last fi ve and a half years but also with the employment opportunities which we have been last year which continued into the fi rst quarter She took up the role as TISEG CEO in January able to create across our offi ces in Guernsey, of 2020. What has been hugely pleasing is 2015. Shortly thereafter, the company opened Jersey and the Isle of Man. I’m very proud of that the volumes of listing applications have its offi ce in Jersey and in June 2016, the continued to hold up unexpectedly well during the culture which we have fostered, and that company listed on TISE. Since that time, the staff are attuned to our wider social purpose the second quarter of this year, despite the group has opened an offi ce in the Isle of Man as a stock exchange and our values of being continuing impact of COVID-19 on the broader and rebranded to refl ect both the geographical responsible, curious and connected. economy.” expansion and the international nature of the “These values have shone through never more Overall, at 30 June 2020, the total number of client base. The Exchange has launched market so than during the last few months when, like securities listed on TISE had grown to 3,030 segments for trading companies headquartered every company, we have been impacted by and the total market value of those listed in the Channel Islands and the Isle of Man, as the pandemic. The team has done a fantastic securities had risen to more than £400 billion. well as a green market segment, TISE GREEN, job in not only providing business continuity but to raise the visibility of investments aimed at Mrs Le Poidevin added: “What we have seen also maintaining high standards of client service during the second quarter is a pipeline of fi nancing the protection or enhancement of the during what has been a very challenging and business particularly linked to completed environment. busy period. I am proud of everything we have private equity and real estate transactions. During her tenure, TISE has grown its share achieved as a team in the last few years and I This has been increasingly mixed with listings of UK Real Estate Investment Trusts (REITs) to know I am leaving the business in good shape related to corporate refi nancing, whether more than a third of the market and it has also and in good hands.”

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01624 665 801 [email protected] www.luminaires.co.im Expert comment from leading fi gures within the business community, on a variety of topical issues across a range of sectors. C19: WHY LONGTERM TECH INVESTMENT PAYS OFF The following guest article has been written for B365 by Derek O’Carroll, CEO, Brightpearl. Brightpearl is a retail operations platform for retailers and wholesalers with a clear mission to automate the back offi ce so merchants can spend their time and money growing the business. Brightpearl’s complete back offi ce solution includes fi nancial management, inventory and sales order management, purchasing and supplier management, CRM, fulfi llment, warehouse management and logistics.

n the face of rapidly changing consumer lifestyles and shopping habits, businesses Iare fi nding the need to pivot quickly to stay competitive in today’s landscape. Digital transformation is something we’ve been talking about for a long time in retail, but many brands swifty moved online, seemingly overnight, once they realized this is how they would stay afl oat - a quick glance at Shopify’s recent sales surge shows some merchants are quickly adapting operations to survive the coronavirus. However, many others are faced with the burdens of legacy; on premise ERP systems which stand in complete contrast of retail innovation, speed of deployment and modernised functionality which are essential in these challenging times. Leading UK analytics company Forrester even talks of the new era of the Digital Operations retailers (51%) admit they do not have the time inventory, shipping, and logistics across multiple Platform, where antiquated ERP systems are or expertise to confi dently make major software channels and locations, or for more real-time being phased out by next generation DOPs that investments. customer-facing support, the business is quickly going to run into problems. are better suited to modern digital business. Even at the best of times this presents a problem, This is crucial in the current climate because but given the current retail climate it presents Tech Investments Pay O DOP systems off er fl exibility to rapid changes a catastrophic oversight. Multiple chains and in demand and integrate with other aspects of categories have gone dark because of the All merchants no matter how digitised, now your business, as well as being built for speedy lack of technology planning and investment, need to look beyond COVID-19 and start deployment to enable merchants to react quickly combined with a reliance on Legacy ERP which thinking about what the future may look like. to the coronavirus challenge. impairs the ability to operate across multiple This is a perfect opportunity to take the time to channels. really evaluate your tech stack and assess the Planning to Fail operational pain points within the business that In this climate it’s more imperative than ever could be addressed. The lack of innovation, long-term technology that retailers are agile and invest in the right planning and investment is a retail dilemma. One technologies in place to support greater Brands should take lessons from this pandemic: of the most surprising statistics to come out of fl exibility, such as the ability to enter new markets Tech Investments Pay Off . Retailers that have Brightpearl’s Retail Tech Stack report was that 1 in with minimal investment or to test new business invested in their operations to support real-time 3 retailers either do not have, or are not aware of models to help them weather the storm. visibility across channels are faring much better their business having a long term IT strategy. than those that didn’t as tactics like click & collect But even brands making the switch to the online prove to be key survival factors. PA found that 66 per cent of executives stated DTC space should understand that this channel they’d made little to no moves towards making is going to expand past what they previously had. Those brands that ultimately thrive post-crisis the innovative changes they felt their business When you’re operating in diff erent markets and have, or will be implementing long-term IT needed to survive. This chimes with another you’re scaling quickly, you’ve got to have the right strategies that are underpinned by intelligent concerning statistic pulled from the Brightpearl retail operations in place to respond eff ectively. retail technology which form the building blocks study which highlights that more than half of Without those mechanics, for example, to handle for multichannel growth and success.

20 | 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 C19: WHY LONGTERM TECH Caviat Emptor INVESTMENT PAYS OFF The Sopranos, television’s greatest-ever series, was so remarkably authentic partly because go-betweens from families engaged in organised crime allegedly advised or corrected the The following guest article has been written for B365 by Derek O’Carroll, CEO, Brightpearl. Brightpearl series’ producers on important details to ensure programmes were true-to-life. is a retail operations platform for retailers and wholesalers with a clear mission to automate the back his meant that when Tony Soprano or offi ce so merchants can spend their time and money growing the business. Brightpearl’s complete his henchmen were required to display An international back offi ce solution includes fi nancial management, inventory and sales order management, Ta menacing show of force, for example, arrest warrant is viewers could be assured that the drama still out (at time purchasing and supplier management, CRM, fulfi llment, warehouse management and logistics. portrayed on-screen was alarmingly accurate. of writing) on Wirecard chief Yet this was fi ction. Great storylines, brilliant n the face of rapidly changing consumer operating oﬃ cer writing, outstanding acting, realistic action, but lifestyles and shopping habits, businesses Jan Marsalek. Iare fi nding the need to pivot quickly to stay fi ction none the less. However, we can never be competitive in today’s landscape. Digital quite sure whether art mirrors life or is it the other transformation is something we’ve been talking way around? about for a long time in retail, but many brands The unravelling of former German stock market swifty moved online, seemingly overnight, once darling Wirecard suggests that real life certainly they realized this is how they would stay afl oat borrows from art if incredible behind-the-scenes - a quick glance at Shopify’s recent sales surge reports are any guide. shows some merchants are quickly adapting operations to survive the coronavirus. Almost exactly two years ago, in August 2018, Wirecard was valued at more than €24 However, many others are faced with the billion (£22 billion) and described as “Europe’s burdens of legacy; on premise ERP systems greatest fi ntech”. It had joined the Frankfurt collapse and its share price collapsed – from shareholders’ association SdK has launched which stand in complete contrast of retail stock exchange in 2005 by means of a reverse €104.50 (on 17 June) to €1.28 nine days later. legal action against accountancy fi rm EY. innovation, speed of deployment and takeover, assuming the market listing of a Small investors in Wirecard were less fortunate; modernised functionality which are essential in The episode will remind older investors of former call centre operator. By June 2020, many have lost everything. Enron’s collapse at the turn of the century, these challenging times. however, the company had fi led for insolvency Meanwhile, the search for Marsalek continues. another bleak period for smaller investors which Leading UK analytics company Forrester even after admitting that €1.9 billion (£1.7 billion) didn’t, According to Austrian daily Die Presse, he proved that determined fraudsters can avoid talks of the new era of the Digital Operations retailers (51%) admit they do not have the time inventory, shipping, and logistics across multiple in all probability, actually exist; to make matters enjoyed access to highly confi dential information, offi cial scrutiny for far too long. Platform, where antiquated ERP systems are or expertise to confi dently make major software channels and locations, or for more real-time worse, Wirecard still owes its creditors more suggesting he had links to secret services. being phased out by next generation DOPs that investments. customer-facing support, the business is quickly than €3.5 billion. At the heart of the Enron fraud were special are better suited to modern digital business. going to run into problems. It is alleged that Marsalek passed on confi dential purpose entities (SPEs), eff ectively new companies Even at the best of times this presents a problem, Having come clean, the company’s former chief This is crucial in the current climate because but given the current retail climate it presents information from Austria’s secret services and part-funded by Enron. On paper, this appeared Tech Investments Pay O executive and founder Markus Braun turned DOP systems off er fl exibility to rapid changes a catastrophic oversight. Multiple chains and interior ministry to political opponents of the perfectly legitimate, but once established, the SPEs himself in to the police, but chief operating offi cer in demand and integrate with other aspects of categories have gone dark because of the All merchants no matter how digitised, now nation’s government; the Financial Times (and there were hundreds of them) then borrowed Jan Marsalek remains at large. He was believed your business, as well as being built for speedy lack of technology planning and investment, need to look beyond COVID-19 and start reported that Marsalek openly boasted of his heavily from their lenders, not Enron’s, eff ectively to have travelled to Manilla the day after he was deployment to enable merchants to react quickly combined with a reliance on Legacy ERP which thinking about what the future may look like. access to secret information when in the UK. allowing Enron to massively increase its leverage fi red, fl ying to China 24 hours later, although to the coronavirus challenge. impairs the ability to operate across multiple This is a perfect opportunity to take the time to without sullying its own balance sheet. authorities in Germany and the Philippines In what sounds like an overtly sinister, Soprano- channels. really evaluate your tech stack and assess the suspect this information is at best questionable esque show of strength, he is said to have shown Remarkably, because Enron didn’t own the SPEs Planning to Fail operational pain points within the business that In this climate it’s more imperative than ever and believe immigration offi cials may have been business associates documents containing the outright, there was no requirement for it to report could be addressed. The lack of innovation, long-term technology that retailers are agile and invest in the right paid to falsify records relating to Marsalek’s recipe for the nerve agent Novichok, used to any SPE activity in its own accounts. For a long planning and investment is a retail dilemma. One technologies in place to support greater Brands should take lessons from this pandemic: movements. poison former double agent Sergei Skripal and time, therefore, Enron could show increasing of the most surprising statistics to come out of fl exibility, such as the ability to enter new markets Tech Investments Pay Off . Retailers that have his daughter in 2018. profi ts (the borrowed cash fl owing from the International arrest warrants (at the time of writing Brightpearl’s Retail Tech Stack report was that 1 in with minimal investment or to test new business invested in their operations to support real-time SPEs into Enron’s account) without exposing any there is one out for Marsalek), are the stuff of The FT also allege that Marsalek boasted of his 3 retailers either do not have, or are not aware of models to help them weather the storm. visibility across channels are faring much better corresponding debt. links to Russia’s military intelligence directorate, their business having a long term IT strategy. than those that didn’t as tactics like click & collect thriller or spy movies, but investors in Wirecard But even brands making the switch to the online are unlikely to reserve a seat at the Odeon to the GRU, as he endeavoured to dissuade Whether Wirecard’s activities will ultimately PA found that 66 per cent of executives stated prove to be key survival factors. DTC space should understand that this channel watch in horror as this real-life drama unfolds. London-based fi rms from ‘shorting’ Wirecard reveal something similar or perhaps even more they’d made little to no moves towards making is going to expand past what they previously had. Those brands that ultimately thrive post-crisis shares. complex remains to be seen, but the company’s the innovative changes they felt their business According to the Financial Times, a clutch of When you’re operating in diff erent markets and have, or will be implementing long-term IT collapse should remind investors to remain alert needed to survive. This chimes with another leading hedge funds that ‘shorted’ the company’s Since Wirecard’s share price collapsed, you’re scaling quickly, you’ve got to have the right strategies that are underpinned by intelligent and continually conscious of that most precious concerning statistic pulled from the Brightpearl shares made over £1 billion in profi ts inside Germany’s fi nancial watchdog has been criticised retail operations in place to respond eff ectively. retail technology which form the building blocks advice: Caveat Emptor. study which highlights that more than half of Without those mechanics, for example, to handle for multichannel growth and success. a week as Wirecard teetered on the brink of for failing to prevent the scandal, while German

| 21 T for coecti with yor adiece and shining online

By Lyn Roseaman, Toastmasters International

In our current situation being able to use platforms such as Zoom for training sessions or other meetings has provided a life raft for many businesses. However, communicating well online is a challenge, which requires a diff erent mindset and adapting your skills. How can you shine online and communicate via diff erent platforms with Confi dence, Connection and a message that drives Change?

For Conﬁ dence Get ready to be viewed in close up If we have noticeable nerves it can makes our If you’re going online from home check your audience feel uncomfortable and concerned surroundings. What’s behind you that the To ensure our listeners for our wellbeing. Online, they may choose to camera will pick up? Are there people or abandon us and stop listening. sounds that may interrupt? Is the space you’ve engage with our chosen sending out your intended message? To ensure our listeners engage with our A garden shed or the kitchen may not be the message we need to message we need to bring confident energy best for a business webinar. bring conﬁ dent energy to the screen. This will help our audience to to the screen. relax and connect with us and what we’re Being online is a ‘close up’. On the small saying. screen the camera picks up every detail, expression and gesture. Is the light behind How can this be achieved?

22 | the camera (to avoid hiding you in shadow)? For Connection visible, explore change and start building our Is dazzling sunshine bouncing flare onto your future together. If you’ve been to conference you may well have face, especially if you wear glasses? Capture a notice that some speakers have a queue of Search engines can tell us immediately what’s photo/screenshot before you go live to make people waiting to talk to them. These speakers new and different online. To stand out and sure you’re looking the part and everything is had connected, both in terms of the value they keep our listeners interested we need to say appropriate for the occasion. gave to the audience – their relevant message something timely and relevant. – and the way the speaker made them feel. Controlling the technology Identify your message – one that is refreshed and relevant today – and incorporate only Online, we need to convey a feeling of calm Answering the question - ‘What’s in it content that supports it. and control when we host a meeting or event, for me? and handle the technology. As a webinar host it’s your responsibility to Keeping to the point In spite of doing all the appropriate tech checks, answer listeners’ all-important question ‘What’s Online attention spans are short and there things can still go wrong. And people accept in it for me’, as quickly as possible – so they is even less appetite for tangents than when that this can happen. What’s important is that keep listening. For this, you need to know your everyone’s in the same room, so keep to the you handle it calmly and efficiently, explaining participants. Find out what makes them tick and point. what’s happening. If possible find another why they’re attending. person who can take care of the tech while you Make your talk easy to understand. Consider a concentrate on connecting with your audience. Using the magic word clear structure, such as a hero’s journey or the

‘When it comes to being relevant and engaging pros and cons. Break it up into small ‘chunks’ of Manage your body language online ‘You’ is the magic word. In English, around fi ve minutes and top and tail each chunk with what you plan to cover and a keyword to Think about the non-verbal ways you are able ‘you’ power comes from being both singular sum it up as you move on. to convey confi dent energy online: – a one-to-one conversation – and plural, including everyone. You-focused language Being able to communicate clearly and connect • An open and stable posture that is relaxed simultaneously creates a feeling of inclusivity with your audience is vitally important. Review and assured. and a personal connection with every listener. what you are doing before your next online

• Smaller gestures. Big gestures will webinar or presentation so you can make overwhelm or fall off screen. Sharing stories sure your set up is as good as it can be. Think • When you’re close to a mic, people may hear Storytelling comes into its own online. When about how you will word your message and your nerves in your voice. Breathe into the we tell a relevant personal story, openly and connect with your audience online. With all the abdomen and relax your upper body so that honestly, our listeners can relate to us. Stories elements in place you can shine online. your vocal tone is rich and strong. create connections and are both engaging and memorable. How diff erent from wading through • Steady eye contact and the correct endless bullet points! positioning of your camera lens at just above ABOUT THE AUTHOR eye level helps you to come across as open For Change Lyn Roseaman is a Distinguished and sincere. Toastmaster at Toastmasters In current circumstances, online webinars and International, a not-for-proﬁ t organisation that • Remember to smile. conversations are our opportunity to remain has provided communication and leadership skills since 1924 through a worldwide network of clubs. There are more than 400 clubs and 10,000 members in the UK and Ireland. Members follow a structured educational programme to gain skills and conﬁ dence in public and impromptu speaking, chairing meetings and time management www.toastmasters.org

| 23 Become agile and adaptable to survive

Globally the Covid 19 pandemic has ripped through the hospitality sector with hotels, bars and restaurants shut up for months. In the UK, outlets closed their doors on 20th March, three days before the nationwide lockdown was announced and began to reopen 15 weeks later on 4th July. The Isle of Man was ahead of the game, but the eﬀ ects are still severe. Now business leaders are urging the sector to adapt and become more agile to future proof and look at new ways to grow revenue. Founder James Brundle from innovative London food retailer Eat17, who are oﬀ ering franchising opportunities, looks at the changes the sector can make to become more agile and adaptable over the coming months.

he priority for many businesses at the There are some steps they can begin to take to Think about the negative and positive thing moment is very simple – survival. With ensure a more profi table future. that could happen to your business. Being Tthe furlough scheme beginning to draw agile means you can adapt to those changes. to a close and life slowly returning to a kind of Set objectives What we’ve seen in recent months in the normal, all sectors are having to adapt to a new Think about why your business model needs to adaptable businesses fl ourish. They’ve taken way of operating. be agile. What do you want to achieve and what their off ering online, found new ways to meet And none more so than the hospitality sector. The benefi ts will it bring? What changes will need to customer needs and come up with a much last four months has been devastating for Britain’s be made to adopt this new way of working and more robust business model. For some that hotels, bars and restaurants. Just as the Easter how will it help and provide value to staff and has been impossible because of the nature of and summer season were about to get started customers? Where do you need to start and their business but now is the time to look to in earnest, businesses were locked up for the how will you communicate the change? solutions for the future. What can you do with foreseeable future. unusable space both internally and externally Set priorities and kitchens that have been shut for months? According to estimates from UK Hospitality, the As lockdown was eased, we increased the sector experienced a 97% drop in revenue from the For the business to be agile, priorities need to outdoor eating area at our restaurant in beginning of April. be set but take your time to do them. Do not rush and have time to refl ect on the changes Walthamstow. It made good use of that space, Survival for these businesses now depends on you are making. Think about the changes you was safe for our customers and meant we them becoming agile, adaptable and ready to want to make to secure future growth and could increase our covers. change to suit the market conditions. recoup loses made in the last four months. Our business offers a convenience store with By turning over redundant space to retail or The team restaurant and takeaway dining so like others in the off ering an eating out / takeaway option as our In an agile business, overall performance is hospitality sector, we have had to make changes to franchise model suggests, you’ll be creating more important than when and where people adapt. However, by having several strands to our new streams of revenue which will work now work so a fl exible approach needs to be built business, we’ve been able to adapt to the market and in the future. in, Think about the training you need to off er conditions to remain viable. to make this happen, encourage teamwork Planning is now important to ensure profitability Plan for the unexpected and collaboration and make the most of the as businesses move forward and adapt to the If the last four months have taught businesses services and support available to you and changing times. anything, it’s to plan for the unexpected. your team.

24 | The Management of Change Change has become an almost ubiquitous concept. It can be blamed for all manner of ills like an unwelcome aggressor in the workplace, and yet heralded as the solution to an organisation’s long-standing problems. For some it is the driver of solutions, and for others a harbinger of cynicism. Depending on one’s particular state of mind and environment at the time, change is viewed in a complex matrix of diﬀ erent ways. However it is framed though, change is inevitable. In fact, it is happening all the time, in our private lives and in the workplace, and at a signiﬁ cantly increased pace over the last 30 years.

hy, then, is there still mystery and fear surrounding change? The answer lies Win anthropological and psychological intricacies, which are far too detailed to piece together in this article. To simplify enormously, human beings are complex and some of our basic needs have stood fi rm throughout evolution, even as the world around us has transformed. We need to have a sense of purpose and to feel valued, and there is a deep- seated drive within us to protect ourselves and our loved ones. The diff erent ways in which these basic needs manifest themselves lead to individuals fi tting into one of four groups, as illustrated in the table. Unless you sit in the top right quadrant, then change is not going to feel comfortable or natural. In organisational terms, successful change management is much more diffi cult if the substantial majority sit outside of the top right quadrant. Indeed, it is also highly likely to fail. There are several well-known change management models; 7S, Kotter and Lewin, to name a few of the more notable theories. A similar theme runs through each of these models, describing in diff erent ways the process an organisation should take to will have heard of Kübler-Ross, perhaps fewer about eff ect change. No doubt these and other models Bridges and ADKAR, and these are more people- have been implemented successfully on many centric theories that consider the emotional journeys occasions, however it is also certain that they will that need to be undertaken to eff ect real change. have spectacularly failed too. Directors and senior managers will have spent hours agonising over A relatively common obstacle that arises in change possible reasons for failure. Was the strategy wrong management is incumbent senior managers not all along? Are the team just not good enough? Is the feeling qualifi ed to apply the more psychological industry not ready for our innovative thinking? Were skills, which are necessary to ‘move’ people around we unlucky and aff ected by external factors? Shall we the quadrants. There can also be a concern around try again and hope for the best? their authenticity and credibility too, perceived or actual. The practice of bringing in external, normally Failure is normally not the fault of the model per temporary, resources to facilitate change is becoming se. These procedural models eff ectively instruct more common for precisely these reasons. The ‘management’, using a reliable path to implement organisation still has the best drivers, but the ‘change change but the trouble with any of these models is expert’ is there to escort and support them that if they are used in isolation they’re unlikely to and their nervous passengers through a really make a diff erence. These models all “do change stretch of tricky and uncertain terrain. to people”; which means that they tell people what to do but, if you look back to the quadrants, it is obvious There is no one single correct way that people sitting outside of the top right are not to implement change management, going to react well to simply being told. They need but in the end, success will depend to trust and believe, and they require understanding on how well you understood and and inspiration to get them there. This is why other accounted for your staff ’s feelings change models, more focused on the human psyche, and thoughts, as much as on how are necessary alongside the procedural models. Most clearly you told them what to do.

Auxesia’s panel of highly qualifi ed experts can help companies at all stages of development to implement successful change management across their business, To fi nd out more about Auxesia and how it could help you or your business to grow and fl ourish, visit www.adiff erentwayofthinking.com By Stuart Colligon, Managing Director at Auxesia

| 25 The appeal of Shariah investing For weeks, newspaper headlines have regularly conﬁ rmed the depth of our pent-up demand for holidays, reporting record levels of travel bookings as we desperately attempt to escape and forget lockdown.

pparently, more people are booking cruise holidays than there were before A the pandemic. There has been a 40% increase in reservations for 2021, yet only 11% of these bookings were made by those who had had their cruise cancelled this year, suggesting a considerable surge in new interest. This is not surprising. Over the past few months, most of us have had plenty of time to browse travel websites and read articles in newspapers and magazines peppered with enticing images of golden beaches, azure-coloured waters and spectacular sunsets. Throw in an opportunity to a) escape lockdown and b) visit somewhere new on a regular basis and it’s no wonder demand for cruise holidays has increased so dramatically. For many, lockdown has presented a prolonged, once-in-a-lifetime opportunity to of funds, including mainstream funds, which do The Franklin fund invests in ‘Sukuk’, evaluate life and refl ect on how they would not have an explicit ethical focus. Managers commonly known as ‘Islamic bonds’, in this like to spend the rest of it, considerations not recognise that fi rms that do not take these case a portfolio of fi xed- and fl oating-rate necessarily limited to holiday planning. It’s considerations seriously are at risk of suff ering Shariah-compliant securities; more than half an approach which an increasing number of tangible losses as a result of poor practices, (54%) of the fund is invested in government, investors have embraced too. which ultimately impacts share prices. government-related and corporate entities As the calls to ‘build back better’ become located in the UAE and Saudi Arabia. Over the In many respects, this has been essential as louder, ESG strategies will continue to strike a past 12 months, a period which has included traditional investment stratagems have been chord with investors, but so too will the appeal unprecedented fi nancial market dislocation, called into question. Lockdown has had a of Shariah investing. the fund has returned 4.6% and enjoyed debilitating impact upon the (previously high- annualised returns of almost 4% for the past yielding) commercial property sector and the Shariah funds and ETFs off er investors access three years. equally bountiful ‘Big Oil’ pairing of BP and Shell. to investments based on Islamic principles, which exclude activities that challenge Shariah Performance at the HSBC Islamic Global Old certainties and regular dividend payments law. The principle exclusions are investments Equity Index Fund has been particularly appear threatened, especially when in alcohol, gambling, fi rearms, pornography, impressive. A little over 70% of the fund is commercial property landlords such as Intu tobacco and the trading of gold and silver as invested in the United States, which accounts go into administration, while BP and Shell cash on a deferred basis. for a year-to-date return of 12.8%. According announce they’re writing down the value of Investors may ask whether the extent of these to Trustnet, over the past three years, the fund their assets by a combined total of almost £32 exclusions compromise investment returns has provided cumulative returns of 52%. billion, as they did in the latter half of June. (similar queries were made of ESG-focused Sharia-compliant investing isn’t necessarily on Shell has been quick to highlight the underlying funds a decade ago), but research suggests every investor’s radar, although a decade ago, strength of its balance sheet, which, it believes, this is not necessarily the case. few imagined that ESG strategies would prove can ensure it becomes the world’s largest The point is proved when examining two so popular. Considering the potential size energy business by focusing on natural gas and leading Sharia-compliant funds: the Franklin of the Sharia-compliant market, it’s entirely renewable energy. The success of either sector Templeton Sukuk Fund and the HSBC Islamic possible that once investors analyse returns is not, as many would have it, determined by Global Equity Index Fund, each of which boasts from ’Islamic funds’, this sector too could enjoy the oil price but by governmental policies and a 5-star Morningstar rating. even wider appeal. the falling cost of technology. As governments endeavour to align themselves with renewables and long term sustainability, Ramsey Crookall oﬀ er investors access to a range of international investment climate activists maintain we’ve been presented and share dealing opportunities. For more details, contact Ramsey Crookall on with a rare opportunity to ‘Build Back Better’ 01624 623884 or visit www.ramseycrookall.com and create structural changes in the energy sector which focus on making it carbon-free. ‘Ethical investing’ was once the term used to describe a niche investment strategy with a limited fund universe, though it has evolved dramatically over the years. Today, perhaps the fastest growing, broadest such strategy is environmental, social & governance (ESG) investing.

ESG factors are routinely integrated into the For details of Ramsey Crookall’s investment management services, contact their Douglas investment processes of an increasing number o ce on 01624 623884 or visit their website: www.ramseycrookall.com

26 | The appeal of Shariah investing For weeks, newspaper headlines have regularly confi rmed the depth of our pent-up demand for holidays, reporting record levels of travel bookings as we desperately attempt to escape and forget lockdown. Looking at the people who keep the wheels of commerce turning on the Island; pparently, more people are booking features, profi les, achievements and stories with a human dimension. cruise holidays than there were before A the pandemic. There has been a 40% increase in reservations for 2021, yet only 11% of these bookings were made by those who had had their cruise cancelled this year, suggesting a considerable surge in new interest. This is not surprising. Over the past few months, most of us have had plenty of time to browse travel websites and read articles in newspapers and magazines peppered with enticing images of golden beaches, azure-coloured waters and spectacular sunsets. Throw in an opportunity to a) escape lockdown and b) visit somewhere new on a regular basis and it’s no wonder demand for cruise holidays has increased so dramatically. For many, lockdown has presented a prolonged, once-in-a-lifetime opportunity to of funds, including mainstream funds, which do The Franklin fund invests in ‘Sukuk’, evaluate life and refl ect on how they would not have an explicit ethical focus. Managers commonly known as ‘Islamic bonds’, in this like to spend the rest of it, considerations not recognise that fi rms that do not take these case a portfolio of fi xed- and fl oating-rate necessarily limited to holiday planning. It’s considerations seriously are at risk of suff ering Shariah-compliant securities; more than half an approach which an increasing number of tangible losses as a result of poor practices, (54%) of the fund is invested in government, investors have embraced too. which ultimately impacts share prices. government-related and corporate entities As the calls to ‘build back better’ become located in the UAE and Saudi Arabia. Over the In many respects, this has been essential as louder, ESG strategies will continue to strike a past 12 months, a period which has included traditional investment stratagems have been chord with investors, but so too will the appeal unprecedented fi nancial market dislocation, called into question. Lockdown has had a of Shariah investing. the fund has returned 4.6% and enjoyed debilitating impact upon the (previously high- annualised returns of almost 4% for the past yielding) commercial property sector and the Shariah funds and ETFs off er investors access three years. equally bountiful ‘Big Oil’ pairing of BP and Shell. to investments based on Islamic principles, which exclude activities that challenge Shariah Performance at the HSBC Islamic Global Old certainties and regular dividend payments law. The principle exclusions are investments Equity Index Fund has been particularly JOHN COWAN appear threatened, especially when in alcohol, gambling, fi rearms, pornography, impressive. A little over 70% of the fund is commercial property landlords such as Intu tobacco and the trading of gold and silver as invested in the United States, which accounts go into administration, while BP and Shell RETIRES FROM CROWE ISLE OF MAN cash on a deferred basis. for a year-to-date return of 12.8%. According announce they’re writing down the value of Investors may ask whether the extent of these to Trustnet, over the past three years, the fund their assets by a combined total of almost £32 John Cowan and Crowe Isle of Man chief executive offi cer Phaedra Bird are fl anked by directors Debbie Clague and Andy McLarney. exclusions compromise investment returns has provided cumulative returns of 52%. billion, as they did in the latter half of June. (similar queries were made of ESG-focused Sharia-compliant investing isn’t necessarily on Shell has been quick to highlight the underlying funds a decade ago), but research suggests After 40 years in the profession and 34 years with the fi rm John Cowan has retired from every investor’s radar, although a decade ago, strength of its balance sheet, which, it believes, this is not necessarily the case. few imagined that ESG strategies would prove local chartered accountants Crowe Isle of Man. can ensure it becomes the world’s largest The point is proved when examining two so popular. Considering the potential size energy business by focusing on natural gas and leading Sharia-compliant funds: the Franklin of the Sharia-compliant market, it’s entirely t’s been the same fi rm, but had several in lots of business sectors and, most Manxman I think the spirit that’s been shown renewable energy. The success of either sector Templeton Sukuk Fund and the HSBC Islamic possible that once investors analyse returns name changes over the years and many importantly, I’ve had the opportunity to in the last few months has been fantastic. is not, as many would have it, determined by ‘ Global Equity Index Fund, each of which boasts from ’Islamic funds’, this sector too could enjoy might recognise the one in longest use, advise and support a huge range of clients, the oil price but by governmental policies and I ‘So, thank you to my colleagues, clients and a 5-star Morningstar rating. even wider appeal. Clark Whitehill’, said Mr Cowan. the falling cost of technology. which made my job extremely satisfying. contacts for all we’ve done together. I will Joining in 1986, he became a partner in Without those clients, I would have had no As governments endeavour to align themselves miss it and you, but will never forget the good career, so I want to give them a massive with renewables and long term sustainability, Ramsey Crookall off er investors access to a range of international investment 1989 and was managing partner for 10 years fortune you brought me and the fi rm I have thank you. climate activists maintain we’ve been presented and share dealing opportunities. For more details, contact Ramsey Crookall on before handing over to Phaedra Bird in 2018. been so very proud to have led.’ with a rare opportunity to ‘Build Back Better’ 01624 623884 or visit www.ramseycrookall.com He continued: ‘I’ve been planning to leave ‘I have never doubted I was leaving a very Crowe Isle of Man chief executive offi cer and create structural changes in the energy for a couple of years and started to reduce strong fi rm here in excellent hands and I’m Phaedra Bird said: ‘It’s thanks to John’s sector which focus on making it carbon-free. my offi ce hours to get me into the right frame proud of what I have helped to build over the leadership, vision and abiding passion for the ‘Ethical investing’ was once the term used to of mind. The last three months have been a years, but I’m a great believer in change and industry that the fi rm has grown and developed describe a niche investment strategy with a bit of a challenge but I kept to the plan and I’m convinced that the Crowe team we have the trusted Crowe brand, respected by our limited fund universe, though it has evolved hopefully have cleared my desk. now will make it even better. expanding local and international client base. dramatically over the years. Today, perhaps ‘Inevitably retirement is a time for refl ection ‘Post retirement, I am fortunate to have a few ‘All of us at Crowe will miss not only his wealth the fastest growing, broadest such strategy and looking back I can say I think I’ve been non-executive director appointments to keep of knowledge and industry insight but also is environmental, social & governance (ESG) my hand in and no plans to emigrate, even investing. lucky in my career. I’ve worked alongside his great sense of humour and unique take some very talented people who’ve helped if it were possible! Holidays seem to be off on the ever-increasing complexities of the ESG factors are routinely integrated into the For details of Ramsey Crookall’s investment management services, contact their Douglas me enormously over the years. I’ve dealt the agenda for a while, but we’ll get back to accountancy world. We wish John every investment processes of an increasing number o ce on 01624 623884 or visit their website: www.ramseycrookall.com with some brilliant fellow professionals more normal before too long and as a proud happiness in his retirement.’

| 27 THE POWER OF 3: ZURICH INTERNATIONAL AND Z ZURICH FOUNDATION SUPPORT INITIATIVES TO HELP IOM THROUGH COVID CRISIS The Isle of Man is renowned for its resilience, a strength that’s reﬂ ected by the triskelion and the ‘whichever way you throw it, it will stand’ motto.

n recent months those qualities have also been shown by the reaction of businesses, Iemployees, and the whole community to help the most vulnerable members of society during the COVID-19 crisis. Zurich International’s response stands out – as does the support provided by the Z Zurich Foundation (Zurich Insurance Group’s charitable foundation). Together they have supported three key initiatives which are already helping the individuals and community organisations that are most in need. Zurich International donated £30,000 to the Manx Solidarity Fund and became one of the fi rst businesses to support the fund which was set-up in March. The Manx Solidarity Fund is a Manx- registered charitable trust with a mission to serve the community. Its Patron is His Excellency the Lieutenant Governor Sir Richard Gozney. The Fund is already providing grants to the individuals, businesses and charities on the Island who need it most. Click here With the cheque for funds raised from Zurich International’s #Yessir campaign are (left to right) to fi nd out more, or fi nd the ‘Success Stories’ tab at David Gawne MBE, Chairman, Isle of Man Foodbank; Madina Sharpe, Foodbank Volunteer; Melanie Kermeen, Director, Manx Solidarity Fund; and Martin Malone, International Distribution Manager, www.manxsolidarityfund.com Zurich International, who came up with idea for the fundraising campaign. • Isle of Man Foodbank received a donation of £30,000 from the Z Zurich Foundation in funding from the Z Zurich Foundation, a total behalf of everyone at Zurich International, thank April. The Foodbank, which is a registered of £11,773.80 was shared equally between the you to everyone involved with the charities for Manx charity run solely by volunteers, would Manx Solidarity Fund and Isle of Man Foodbank have suffi cient donations of food in normal the great work they are doing, and to everyone (so that means each charity receives £5,886.90). circumstances, but since the pandemic started that has supported our fundraising eff orts so the number of people needing help has greatly Globally, the COVID-19 pandemic has exposed far. I also want to thank my colleagues for the increased. The Z Zurich Foundation donation many vulnerabilities that have led to a sudden fantastic contribution they have made during is helping the charity to meet that demand. surge in demand for the services provided by the crisis, including raising funds for many good Worldwide, Z Zurich Foundation donations in charities. Zurich International and the Z Zurich causes. Charities and organisations will continue response to the COVID-19 emergency have Foundation’s rapid response to help charities here to need support to overcome the challenges that supported about 60 charities so far, helping on the Island has been mirrored around the world lie ahead, so we are already working on more them assist a vast number of our communities by the Zurich Insurance Group, and the Foundation fundraising ideas to maintain the momentum we in need by providing food, medical service which has refocused its eff orts on helping those have already established.” deliveries, laptops for online schooling, and who provide urgent medical attention, food Check out Zurich International’s social media access to mental health support for the most supplies, mental health counselling, and other channels for the latest news about fundraising vulnerable and isolated people. support to the most vulnerable members of society. events, and to see stories of how the money • In May, Zurich International launched its ‘Give Peter Huber, CEO, Zurich International, said: that has already been raised and donated is A Coff ee #Yessir’ campaign. Martin Malone, “Everyone at Zurich International, and our Zurich helping those in need here on the Island. Zurich International Distribution Manager at Zurich Insurance Group colleagues around the world, International also has a free online ‘Wellbeing International, came up with idea. Due to the always recognise the importance of giving back Toolkit’ which off ers a wealth of information lockdown, Martin realised that he wasn’t to the communities in which we live and work. specifi cally designed to help Isle of Man residents spending money at his local coff ee bar, so he That’s always a priority for us, and even more during the COVID-19 pandemic. The toolkit – decided to give the money he saved to charity. so in times of crisis. It has been inspiring to see available at Zurichinternational.com/wellbeing He knew that many of his colleagues and friends how the whole community here on the Island has – contains lots of information to help everyone on would think it was a good idea too, and so the responded. We are already seeing the positive the Island look after their own mental health and #Yessir campaign was born. Thanks to a quirky impact that charities such as the Manx Solidarity wellbeing, and to assist in supporting their families, social media and PR campaign, and match- Fund and Isle of Man Foodbank are having. On friends, and work colleagues. 28 | PAUL SPELLER takes a left-fi eld look at the issues of the moment AFTER COVID EVEN POLITICS WILL BE REFRESHING You know that things have been getting back to normal, on a political level at least, when a bye-election is announced. In the Isle of Man we already knew one was coming due to the sad death of Bill Malarkey earlier this year. That poll was put on hold due to the coronavirus lockdown. But now the Douglas South constituency’s other MHK, Kate Costain, has announced she is standing down for health reasons.

ot everyone’s cup of tea as a minister, it is, hopefully, a quiet time for news. was interesting that some of those who We want it to be an otherwise quiet period worked with her during her time at Health N because a lively time for news could well mean did not question her commitment to the job. And a signifi cant return of you-know-what. No matter she certainly performed a valuable role upon her how tedious we can sometimes fi nd politics, I return to the backbenches. We wish her well. think we’d all much prefer to be talking about So there are two vacancies in the constituency and discourse of the non-Covid variety whenever whoever is returned will have a one-year term of possible. offi ce, before a full-scale general election in 2021. What will be the big issues? There will be talk of In many respects this gives the successful the importance of economic rehabilitation and candidates something akin to a free pass – the While some may still be the strengthening of sectors that have been on seats they win this year will be theirs to lose when the frontline and would fi nd themselves on it that general election arrives. Keep noses clean shielding for health reasons, again should the worst happen. and constituents happy for that year then things others may decide it may Will anyone challenge the generally accepted should be looking good. become a good idea to view that the Manx Government has done a But it also gives the voters a free pass. Certain good job in dealing with the crisis? choices may seem less risky if you know that, just socially distance from Will border opening still be a matter of debate by a year later, you can vote them out if it turns out anyone wearing a rosette or the time people come to vote? Does it matter at the risk wasn’t worth it, after all. constituency level? carrying a scutch of freshly Such risk can range from opting for radical And which of the old chestnuts will return? The candidates who may just have hit upon printed manifestos. government certainly seems to be doing its bit to something, to single issue candidates who would ensure that anyone who lives in or near Douglas After months of tuning in to government struggle to keep a level of performance going for will have something to say about roadworks. a full fi ve years. briefi ngs, can the public bear to witness many more online events featuring would-be Heritage transport is another issue that may You could even have some fun. But just politicians who have not yet even received come up, although it is not clear whether anyone remember, some people thought it might liven aff ectionate nicknames from local websites? has yet come up with a plan for a monorail on things up to have Boris Johnson as a Prime the western side of the Castletown Road. Minister and he has only been in a year. Will success in this bye-election depend more upon the ability to embrace multi-platform On a more serious level, will candidates touch Electors in Douglas South have several key technology than in substance of policy? upon the issue of racism? decisions to make. While some may still be That may well be the case, but it should not It is a topic that should not be ignored. If shielding for health reasons, others may decide be considered anything other than electoral candidates present a united front to insist it it may become a good idea to socially distance evolution. will not be tolerated, it would go some way to from anyone wearing a rosette or carrying a countering the inevitable and deeply troubling scutch of freshly printed manifestos. The ability to fi nd the perfect television responses from some of the darker quarters soundbite preceded the political importance of a If ever there was a time to test how much of an of social media, where whataboutery – as skilful tweet. And both can come back to haunt. election campaign can be conducted online, this aggressive as is nonsensical – is used to shout will be it. There will be candidates who promise to change down anyone who dares to talk about their the world we live in. Others who seem intent on Will it be less discreet to exit a Teams meeting experiences. keeping things as they are. Some will suggest on the hustings than it would be to try sneaking It would be so good if all those standing could they can do both at the same time. out of a half-empty community hall when the take a united stance on this issue. organisers have made the mistake of off ering tea It is likely this bye-election will also receive more In a year like no other, candidates could make and biscuits during the interval, rather than at the coverage than usual due to the fact it’s going to this a bye-election like no other. end? take place in the middle of the summer in what

| 29 IMAGES IN SCIENCE ARE STILL BIASED TOWARDS WHITE MEN, NEW RESEARCH REVEALS

cience still favours images of white Smen, with women and racial minorities represented as audience members or not shown at all, fi nds research from Nazarbayev University. Dr. Anna CohenMiller, Dr. Sejin Koo, Dr. Neil Collins and Dr. Jenifer Lewis, working across education, political science, and business disciplines, analysed the extent to which women were represented in images from 10 countries’ pavilions at the Astana Expo: a mega-event bringing together countries from around the world to showcase scientifi c advancement. They found varying levels of bias towards men in all 10 countries, with no country showing gender-equal presentation. Germany, Greece, Italy, and Luxembourg Santander International’s displayed no women in science in their images, while the only woman Spain presented was shown in a kitchen to new Managing Director for demonstrate innovations in improved stoves. Austria, France, Hungary, and Slovakia displayed some women in science, however, they still relied heavily on imagery of men. the Isle of Man starts after For example, of Austria’s 15 individual images, only one was a female scientist. Although the Netherlands were the closest lockdown delay to having gender-balanced imagery - of fi ve images, two were women - no country actually provided a gender-balanced view. Santander International’s new Managing Director for the Isle of Even when women did feature, they were Man Branch has started his role after a three-month delay due to presented di erently to the men. the Covid-19 lockdown. The researchers explained: “When scientifi c images included women, they were often ames Geldart was due to take up his Director of the Isle of Man Branch I hope to audience members rather than scientists position in the Isle of Man in early April, further the development of the bank, exceeding and often shown with smiles. In contrast, men were the main focus with serious Jhowever, pandemic restrictions meant the expectations of our clients and continuing to expressions. Also, scientist roles were he could not leave Jersey until July. Upon his off er a brilliant working environment for our staff .” primarily white, with racial minorities shown arrival on Manx soil earlier this month, James A graduate with a BA Honours degree in as audiences or benefi ciaries. Overall, the completed a two-week isolation period, where Management and a Charterholder with the images strongly emphasise the presence of he was working from home. Earlier this week Chartered Institute of Securities and Investments, white men in science. James joined his new team in Douglas. James began his career in banking as a “Portrayal in imagery reinforces and teaches James is no stranger to the Isle of Man, having Financial Planning Manager with HSBC UK, ideas on who can take on various roles, grown up in the south of the Island and as a working with the bank in various roles and including doctors, teachers, or scientists. former pupil of Castle Rushen High School. jurisdictions. Outside of work, James is a keen Gender-balanced or gender-biased imagery cyclist and triathlete, taking part in local and can either raise awareness to reduce a gender He has worked with Santander International international events. gap or reinforce gendered stereotypes - by since 2016 as Head of Retail and Private Banking excluding women as scientists, the imagery for Jersey and the Isle of Man. During this time, James Pountney, Chief Executive Offi cer, teaches visitors that scientifi c knowledge is James developed the bank’s HNW and mass Santander International, said: “Growing and primarily owned by men.” affl uent proposition for both island residents and developing talent is a big part of our success Furthermore, they noted the importance international customers. story at Santander International and we are of imagery and its e ects on formal and delighted to see James take this next step in his Having worked in banking since 2006, notably informal learning: “Between 1901 and 2017, career. James has become an integral part of within wealth management and the expatriate there were 599 Nobel Laureates in medicine, our leadership team and his extensive Jersey market in UK, Dubai and Jersey, he has a wealth physics, and chemistry; only 17 of these were and Isle of Man connections will help us maintain of experience behind him. women. Sharing stories of women in science a strong working relationship between teams in with the next generation is essential for James said: “I’m delighted to be able to move these jurisdictions.” nurturing future scientists and these fi ndings back home to the Isle of Man and this promotion demonstrate the need to raise awareness of John Pearson, the previous Managing Director marks an exciting time for me both personally gender equality in science.” of the Isle of Man Branch, will remain on the and professionally. his research was eatred i the oral Executive Committee and take up a new eder echoloy ad eelopet “Santander International has a strong and role developing new markets for Santander growing presence in the Island and as Managing International.

30 | IMAGES IN SCIENCE ARE CELEBRITY CHEF DIGITALLY DELIGHTS STANDARD STILL BIASED TOWARDS BANK GUESTS WITH ONLINE MASTER CLASS WHITE MEN, NEW RESEARCH REVEALS Guests of Standard Bank were treated to a personalised dining experience in their own homes with a Michelin-star chef. cience still favours images of white Smen, with women and racial minorities irectly from top London restaurant Le represented as audience members or not Gavroche, where he has been at the shown at all, fi nds research from Nazarbayev Dhelm since the early 1990s, Michel University. Roux Jr gave a 90 minute master class full of Dr. Anna CohenMiller, Dr. Sejin Koo, Dr. Neil invaluable tips and tricks with eff ortless candour. Collins and Dr. Jenifer Lewis, working across Roux Jr, who comes from a family dynasty of education, political science, and business chefs, spoke of his family experiences, how disciplines, analysed the extent to which he coped during the recent lockdown, his women were represented in images from 10 countries’ pavilions at the Astana Expo: immediate thoughts as the hospitality industry a mega-event bringing together countries returns to work and some invaluable advice for from around the world to showcase scientifi c aspiring young chefs and family cooks – making advancement. They found varying levels of it a great event that the whole family could enjoy. bias towards men in all 10 countries, with no Much of the talk pre-event centred around what country showing gender-equal presentation. Santander International’s has become his trademark dish, Souffl é a la Germany, Greece, Italy, and Luxembourg rhubarb. displayed no women in science in their images, while the only woman Spain That formed part of the menu as the two presented was shown in a kitchen to new Managing Director for Michelin-starred and celebrity chef took clients demonstrate innovations in improved stoves. through the step-by-step process of cooking a ‘It really was a wonderful evening and to ‘Hosting client events is an important part of Austria, France, Hungary, and Slovakia meal before sharing his best tips and practices. participate from the comfort of our own businesses and the chance to hear from and see displayed some women in science, however, All attendees received hampers in advance, kitchens with a chef of such esteem was a real such an esteemed chef at work in his kitchen they still relied heavily on imagery of men. the Isle of Man starts after including all of the ingredients, a signed honour. We are sure all of our participating was a real treat!’ For example, of Austria’s 15 individual clients enjoyed the master class and, as cookbook, branded chopping board and wine Standard Bank Off shore Group has operated in images, only one was a female scientist. Michel told us, guests are passionate about which had been paired with the dishes. the Isle of Man for almost 30 years and the bank Although the Netherlands were the closest good food and good service. We certainly had lockdown delay Roux Jr, who is among a panel of high-profi le continues to expand its operations in the island. to having gender-balanced imagery - of both tonight. fi ve images, two were women - no country judges for this year’s Great British Food actually provided a gender-balanced view. Santander International’s new Managing Director for the Isle of Awards, explained that while many people had Even when women did feature, they were Man Branch has started his role after a three-month delay due to experienced diffi culties over the lockdown presented di erently to the men. period, one positive to emerge was the chance QUILTER INTERNATIONAL the Covid-19 lockdown. The researchers explained: “When scientifi c to spend more time with his family. images included women, they were often ames Geldart was due to take up his Director of the Isle of Man Branch I hope to By his own admission, he spoke of his ‘lockdown EMPLOYEES RECEIVE RECOGNITION audience members rather than scientists position in the Isle of Man in early April, further the development of the bank, exceeding hair and beard’ and how he had spent time at and often shown with smiles. In contrast, home over recent months, ‘taking up yoga’ with FOR LONG SERVICE men were the main focus with serious Jhowever, pandemic restrictions meant the expectations of our clients and continuing to his wife, creating new recipes, planning for the expressions. Also, scientist roles were he could not leave Jersey until July. Upon his off er a brilliant working environment for our staff .” re-opening of Le Gavroche and also revealed he Seventeen Quilter International employees have received recognition primarily white, with racial minorities shown arrival on Manx soil earlier this month, James A graduate with a BA Honours degree in had recently become a grandad. for their long service. as audiences or benefi ciaries. Overall, the completed a two-week isolation period, where Management and a Charterholder with the images strongly emphasise the presence of he was working from home. Earlier this week Chartered Institute of Securities and Investments, During a Q&A session, Roux said he believed ive employees received recognition white men in science. James joined his new team in Douglas. James began his career in banking as a while the Covid-19 pandemic had led to a tough F for 20 years service, two for 10 time in the industry, it was now trying to tackle “Portrayal in imagery reinforces and teaches James is no stranger to the Isle of Man, having Financial Planning Manager with HSBC UK, years service, and 10 for fi ve years. The the immediate challenges to continue training ideas on who can take on various roles, grown up in the south of the Island and as a working with the bank in various roles and recipients are as follows (the information including doctors, teachers, or scientists. chefs, while minimising the risk of transmission, former pupil of Castle Rushen High School. jurisdictions. Outside of work, James is a keen in brackets shows the business areas they Gender-balanced or gender-biased imagery cyclist and triathlete, taking part in local and and feels there is a real appetite for people to go work in): can either raise awareness to reduce a gender He has worked with Santander International back to restaurants. international events. gap or reinforce gendered stereotypes - by since 2016 as Head of Retail and Private Banking 20 years: Helen Clarke and Lee Jackson Expressing concerns about the importance excluding women as scientists, the imagery for Jersey and the Isle of Man. During this time, James Pountney, Chief Executive Offi cer, (both International Operations), Donna of maintaining cooking and butchering skills teaches visitors that scientifi c knowledge is James developed the bank’s HNW and mass Santander International, said: “Growing and Whittaker and George Ready (both through generations, he also gave an insight into primarily owned by men.” affl uent proposition for both island residents and developing talent is a big part of our success International Finance) and Steven Boyd family life and working alongside his daughter Furthermore, they noted the importance international customers. story at Santander International and we are All of the employees received a personal and son in-law (a talented chef himself) at a (International Investment Platform). of imagery and its e ects on formal and delighted to see James take this next step in his thank you letter from Quilter International Having worked in banking since 2006, notably restaurant in Notting Hill. informal learning: “Between 1901 and 2017, career. James has become an integral part of 10 years: Kamay Cheung (International CEO, Peter Kenny, accompanied by their within wealth management and the expatriate there were 599 Nobel Laureates in medicine, our leadership team and his extensive Jersey Roux had time to provide some advice for Finance) and Lea Parsons (International award during lockdown. Peter Kenny market in UK, Dubai and Jersey, he has a wealth physics, and chemistry; only 17 of these were and Isle of Man connections will help us maintain aspiring young and novice chefs: ‘Don’t give up, Operations). congratulated his colleagues for reaching women. Sharing stories of women in science of experience behind him. a strong working relationship between teams in don’t take no for an answer and be prepared for 5 years: Kimberley McLean, Craig Fletcher, their employment milestones, and thanked with the next generation is essential for James said: “I’m delighted to be able to move these jurisdictions.” hard work and to make mistakes. And if you are Jorja Gaskell, Rachael Kennedy, Michelle them for their signifi cant contribution to the nurturing future scientists and these fi ndings back home to the Isle of Man and this promotion hosting guests for a meal, prepare in advance.’ business. Quilter International is a leading demonstrate the need to raise awareness of John Pearson, the previous Managing Director Perry, Andrew Colley, Lewis Griffi ths, marks an exciting time for me both personally gender equality in science.” of the Isle of Man Branch, will remain on the Chief Executive of Standard Bank Off shore Johnathan Gordon (all International cross-border provider of wealth management and professionally. Group, Will Thorp, who welcomed the guests at Operations), Tom Richmond (International solutions and operates in multiple global his research was eatred i the oral Executive Committee and take up a new eder echoloy ad eelopet “Santander International has a strong and role developing new markets for Santander the start of the event, hailed the digital cooking Risk & Compliance) and Kasia Banas markets in the UK, Africa, Asia, Europe, Latin growing presence in the Island and as Managing International. class a success. (International Finance). America, and Middle East.

| 31 Who, what, where – a comprehensive appointments section keeping you abreast of all the movements within the business community.

THE LATEST JOBS NEWS FROM THE ISLE OF MAN BUSINESS COMMUNITY

Buchan appoints new Head of ManSat CCO Katherine Nursey Gizinski elected to Board A former headteacher and one-time of SSPI King William’s College student has been Katherine Gizinski, Chief appointed as the new Head of Nursery for Commercial Offi cer with the The Buchan School. ManSat Group, has been Caroline Kipps Reid, who hails from South elected to the Space & Satellite Africa originally, will run the new Buchan Professionals International (SSPI) Nursery when it opens on 1st September and will also be responsible for Board of Directors. the School’s extensive extra-curricular programme, including the new She will serve a three-year term alongside six other industry professionals, Buchan Rangers Outdoor Learning provision. voted in by the SSPI membership: During her career in education, she has taught children from aged Mike Antonovich, CEO, Eutelsat Americas 2-18, as well as corporate training. She says she is happiest in the Early Years sector so the chance to set up and run the new Buchan Nursery Tony Gingiss, CEO, OneWeb Satellites is really her dream job. Caroline was the headteacher at a prestigious Christopher Johnson, President, Boeing Satellite Systems International kindergarten in Knightsbridge in London before returning to the Island last Sharyn Nerenberg, Senior Director of Corporate Communications, year with her two small children. Hughes Network Systems Caroline completed a degree in Education and Psychology before going Mike Safyan, Vice President, Launch, Planet on to complete postgraduate training in Early Years as well as children’s therapy. A former pupil of King William’s College, she and her husband Jeremy Turpin, Chief Technology Offi cer and Co-Founder, Isotropic made the decision to come back to the Island with their company Systems promoting mental health and wellbeing. The SSPI was founded in 1983 as a nonprofi t organisation and works From September, The Buchan School will operate its own in- to connect people throughout the industry, helping attract, develop, house nursery provision alongside its extra-curricular programme and retain the talented individuals to sustain the industry’s growth. which is designed to educate young people in a nurturing and inviting Membership covers all aspects of the industry, from manufacturing environment, while providing more convenience for the working parent. through to launch. ‘I am absolutely delighted to be joining the team and playing my part in Katherine joined the ManSat Group two years ago and was appointed ensuring the Buchan’s educational enrichment continues to thrive at all CCO in October last year. levels,’ explained Caroline. ‘The school already has a clear wraparound care She told B365: “Serving alongside such accomplished colleagues on strategy which provides a personalised education, including breakfast and after-school clubs and holiday clubs. There is an increasing focus on outdoor the SSPI Board is a great honour for me. Our industry is in the midst of education and all nursery and Buchan School children will have access to the tremendous technological advancement that dramatically changes the Buchan Rangers outdoor Learning programmes over the coming year. way we do business in space. ‘The Buchan has always supported pupils with a strong focus upon “I look forward to supporting policies and strategic initiatives to ensure academics, art, music, drama and a range of sports. Incorporating the we connect people across disciplines and attract and cultivate the talent nursery into the Buchan School, the nursery children will benefi t from that needed to drive our industry forward.” integrated curriculum and inclusive approach. I am thrilled our children Chris Stott, ManSat Chief Executive Offi cer, once served on the SSPI will be able to utilise the fantastic resources at the Buchan whilst having Board and was SSPI President from 2014-2016. He said: “We are thrilled the added comfort and security of our own smaller purpose-built nursery for Katherine, who has had such a major impact on the ManSat Group building. I am really looking forward to getting started.’ since joining the company. Her appointment to the SSPI Board is a huge Head Janet Billingsley-Evans added: ‘We are delighted to welcome honour for the company, as we celebrate our 20th year. Caroline to further strengthen our talented and professional team. As a “The work the SSPI carries out is vital for the industry, as it continues to former OKW it is clear she has a passion and drive to ensure the nursery demonstrate the importance of space and satellite to the world.” school succeeds and that the children are the focus of everything we do. We wish her every success in her new challenge.’ Please visit www.sspi.org and www.mansat.com for further information.

32 | Financial

Who, what, where – a comprehensive appointments section keeping you abreast of all YEARS the movements within the business community. Options 21 by Paul Chase AND WE HAVE ONLY JUST BEGUN THE LATEST JOBS NEWS FROM THE My 21st work anniversary at Chase Financial Services (CFS)/ Financial Options/Chase Wealth ISLE OF MAN BUSINESS COMMUNITY Solutions appeared on my Linked In account last month. Buchan appoints new Head of ManSat CCO Katherine Yes, that’s right, it has been 21 years! My first Nursey Gizinski elected to Board thought when I received those messages was, A former headteacher and one-time of SSPI has it really been that long? How old am I? It has certainly crept up on me and time has definitely King William’s College student has been Katherine Gizinski, Chief flown whilst we have been building our business appointed as the new Head of Nursery for Commercial Offi cer with the and helping our clients achieve their financial The Buchan School. ManSat Group, has been goals. A rough calculation shows that I have Caroline Kipps Reid, who hails from South elected to the Space & Satellite personally assisted well over 4,000 clients, be it Africa originally, will run the new Buchan Professionals International (SSPI) through buying or re-mortgaging their homes, Nursery when it opens on 1st September and will also be responsible for Board of Directors. managing their finances and investments or the School’s extensive extra-curricular programme, including the new She will serve a three-year term alongside six other industry professionals, protecting their families. Buchan Rangers Outdoor Learning provision. voted in by the SSPI membership: SO WHAT DOES THE NEXT 23 look after our clients, new and old. To achieve The fact that I have been working for this that successfully we need to attract talented, During her career in education, she has taught children from aged Mike Antonovich, CEO, Eutelsat Americas YEARS HOLD FOR THE CFS TEAM? company for just under half my life is clear passionate and qualified people to join our team 2-18, as well as corporate training. She says she is happiest in the Early testament to what this company stands for; True We have made a few developments lately and Years sector so the chance to set up and run the new Buchan Nursery Tony Gingiss, CEO, OneWeb Satellites and that is what we are currently looking to do. family values, excellent customer service, honesty have been looking at what we really want to is really her dream job. Caroline was the headteacher at a prestigious We have no fewer than 5 newly created job Christopher Johnson, President, Boeing Satellite Systems International and doing our very best for our clients. It also provide to our clients outside of the everyday kindergarten in Knightsbridge in London before returning to the Island last roles available at the moment (told you we were Sharyn Nerenberg, Senior Director of Corporate Communications, shows what we have achieved during that period financial service offerings. Our ambition as a year with her two small children. expanding!) which include: Hughes Network Systems and perhaps even more excitingly what great company can be summarised as helping our • FINANCIAL PLANNER Caroline completed a degree in Education and Psychology before going things we are going to accomplish next. clients to live a better life; to achieve their life Mike Safyan, Vice President, Launch, Planet on to complete postgraduate training in Early Years as well as children’s goals such as buying the bigger house or a boat • PARAPLANNER As a company we have grown and developed therapy. A former pupil of King William’s College, she and her husband Jeremy Turpin, Chief Technology Offi cer and Co-Founder, Isotropic or retiring earlier; to be able to spend more time over the 23 years CFS has been established • INVESTMENT ADMINISTRATOR made the decision to come back to the Island with their company Systems with their loved ones and to not worry about (I joined my father when the company was 2). • MORTGAGE ADVISER promoting mental health and wellbeing. what happens, when the worst things in life do The SSPI was founded in 1983 as a nonprofi t organisation and works We have transformed from what was originally happen. This cannot be achieved simply by • MORTGAGE ADMINISTRATOR From September, The Buchan School will operate its own in- to connect people throughout the industry, helping attract, develop, a one man band attached to an estate agent, selling financial products but rather through If you are looking for a new opportunity, either now house nursery provision alongside its extra-curricular programme and retain the talented individuals to sustain the industry’s growth. to becoming not only the foremost Mortgage comprehensive holistic financial planning and or in the future and you think your own personal which is designed to educate young people in a nurturing and inviting Membership covers all aspects of the industry, from manufacturing Adviser but also an exceptional Investment, building a relationship with our clients for life. We values, passion and ambition would complement environment, while providing more convenience for the working parent. through to launch. Pension and Financial Planning Team that offer are of course focused on preserving the high and enhance ours, then please do get in touch ‘I am absolutely delighted to be joining the team and playing my part in the widest range of services of any IFA on the Katherine joined the ManSat Group two years ago and was appointed levels of service that we offer and we must also with us. We are always delighted to meet with like- ensuring the Buchan’s educational enrichment continues to thrive at all island. We are so proud of what we have achieved CCO in October last year. encompass our ambition to help our clients realise minded professionals that have a passion for our levels,’ explained Caroline. ‘The school already has a clear wraparound care and it is no secret how we have done it. It is She told B365: “Serving alongside such accomplished colleagues on their dreams. To achieve that we are constantly industry and are interested in achieving the best strategy which provides a personalised education, including breakfast and through truly organic growth, working with clever expanding and developing and growing. possible outcomes for their clients. At CFS you after-school clubs and holiday clubs. There is an increasing focus on outdoor the SSPI Board is a great honour for me. Our industry is in the midst of and talented people, many of which we have can make a real impact and have the opportunity education and all nursery and Buchan School children will have access to the tremendous technological advancement that dramatically changes the trained and who have become qualified while There is nothing more rewarding than receiving to have your voice heard and to shape how we Buchan Rangers outdoor Learning programmes over the coming year. way we do business in space. working for us and overall treating our clients with a referral from one of our existing clients asking develop and grow as a business over the next 23 complete respect. us to help someone they know. It shows we ‘The Buchan has always supported pupils with a strong focus upon “I look forward to supporting policies and strategic initiatives to ensure have added value, have gained their trust and years and have fun doing it! Even if you are not academics, art, music, drama and a range of sports. Incorporating the we connect people across disciplines and attract and cultivate the talent We now have a team of 26 highly qualified and that they are willing to put their name alongside thinking of changing jobs anytime soon, come nursery into the Buchan School, the nursery children will benefi t from that needed to drive our industry forward.” professional advisers and support staff. We ours. I would like to give a big THANK YOU to and meet with us and find out what we are all integrated curriculum and inclusive approach. I am thrilled our children Chris Stott, ManSat Chief Executive Offi cer, once served on the SSPI have stuck to our true family values of honesty, all of those people, both existing clients and our about. will be able to utilise the fantastic resources at the Buchan whilst having Board and was SSPI President from 2014-2016. He said: “We are thrilled decency and transparency in all we do and we professional contacts, that refer new clients to And as for me, when I look back after another 21 the added comfort and security of our own smaller purpose-built nursery for Katherine, who has had such a major impact on the ManSat Group continue to provide and innovate the very best us, it is really appreciated. We have recently seen years, I know I will continue to be as proud of this building. I am really looking forward to getting started.’ since joining the company. Her appointment to the SSPI Board is a huge solutions for our clients (rather than what benefits a large increase of new clients telling us they are organisation and what it has achieved as I am honour for the company, as we celebrate our 20th year. us the most) and we have fun doing it as a team! Head Janet Billingsley-Evans added: ‘We are delighted to welcome looking for a better service or a different way of right now after the first 21, a true family business We do not always get everything right, but we Caroline to further strengthen our talented and professional team. As a “The work the SSPI carries out is vital for the industry, as it continues to looking at things and we are ready, willing and that puts its clients first. former OKW it is clear she has a passion and drive to ensure the nursery try very hard. We have exceptional and talented demonstrate the importance of space and satellite to the world.” very pleased to help. individuals working for us who love to advise our school succeeds and that the children are the focus of everything we do. www.chasewealth.im We wish her every success in her new challenge.’ Please visit www.sspi.org and www.mansat.com for further information. clients and help them to achieve their financial Having gained the trust of existing clients and and life goals and we are good at it. received their referrals we must continue to www.financialoptions.co.im

Chase Financial Services trading as Chase Wealth Solutions and Financial Options is regulated by the Isle of Man Financial Services Authority. ‘It provides a choice in that it off ers a unique choice of education and curriculum which individuals can select, in some cases supported by bursaries and scholarships which is how I was able to attend College. However, it is equally important in off ering opportunity and employment. With 180 staff , we are one of the biggest employers in the south of the Island. ‘Delivering this educational off ering is attractive to many, whether they be Island based like myself, those attracted to the Island due to its role as an off shore fi nance centre, or those looking for the excellence and security off ered by an independent school located in the Isle of Man. As such, it is a magnet for international investment, projecting a world-wide view of the Island. Many of our former pupils then take the Isle of Man with them wherever they travel for the rest of their lives. ‘We must continue to maintain, indeed raise, our standards to remain attractive to student, child and parent alike and to seek to make a fi rst- King William’s College appoints new Chair of Governors class education available to more people. The managing director of an internationally renowned law fi rm has been ‘Key to it all is the relationship between the school, the pupils and their appointed Chairman of Governors at King William’s College. parents and guardians and I am looking forward to working with all Peter Clucas, a former College pupil (OKW) and the current President of members of our community in the years ahead.’ the King William›s College Society, succeeds Nigel Wood in the role after Mr Clucas paid tribute to his predecessor Nigel Wood for his time in he stepped down following 26 years as a school governor, including the offi ce. past 11 as chair. ‘As a school we have been so fortunate to have an individual of the Since 2014, Mr Clucas has been the head of the top tier Litigation team calibre of Nigel as chair of Governors and it speaks volumes that he at Cains, during which time the company, of which he has been a partner has also written to each of the parents this week thanking them for their since the mid-1990s, has received numerous prestigious awards in support during his tenure. recognition of its legal services. ‘It is in no small way down to his input and dedication that the School has He joined the committee of the Society in 2002, becoming President in been as successful as it has for many years and developed a growing 2012 and was appointed a governor in 2014, since when he has sat on national reputation. the school’s Development and Education committees, as well as being ‘We all wish him well and would like to put on record our thanks for his chairman of the Safeguarding Committee for the past four years. effi cient management and perceptive governance which is central to the Despite such an active involvement as a governor and through the eff ectiveness and wellbeing of any school and its community.’ Alumni Society, Manxman Peter’s association with the school goes back well beyond the last two decades. Investec appoints new Chief Operating O cer As a student from 1977 to 1984, he represented College in the Rugby XV, Investec Bank (Channel Islands) Limited Cricket XI and Hockey XI, was awarded Athletics Colours and was Head has appointed Nick Leale as Chief of School. Operating Offi cer. ‘Naturally, it is a huge privilege to have been appointed chairman. Apart Nick Leale joined Investec 20 years ago from a few years early on when I was concentrating on developing my and has undertaken a number of senior career at Cains, I have never really lost touch with the school and it has roles within the bank, most recently as been a real insight and a joy to see how it has developed over the last Head of its Trust & Corporate proposition few decades,’ he explained. across the Channel Islands, Isle of Man ‘Being invited as a volunteer to sit on the Alumni Society and gaining and Switzerland. the insight of its valuable work provided me with an introduction to the Primary responsibilities include the maintaining of Investec’s operating running of the school and, my involvement in the school’s governance platform, developing effi ciencies through innovation and delivering has naturally increased as a full-time governor since 2014. performance against strategy. ‘I said yes to this post, partly because of the aff ection I have to school Brendan Stewart, Chief Executive of Investec Bank (Channel Islands) and the fact I’ve always had the interests of the school at heart, but also Limited said, “We are delighted to announce this appointment. Nick has because of the role it played in shaping who I am. A College education considerable knowledge and experience of the fi nance sector. Over the was transformational to my life both in terms of the education and last 20 years he has been part of the core team that has helped Investec opportunities it provided, but also the life-long relationships I forged. grow and become a leader in off shore Private Banking within its off shore ‘It is a well-run school; one school, albeit on two sites each off ering target markets and is well positioned to help steer the organisation as we choices in education which the Island needs; it is also a business; but, meet new challenges and opportunities.” above all, it is a community. Being chair is very much relationship-driven, Commenting on his appointment Nick Leale said, “I am proud to be part about rapport with people and it excites me that I will be working an organisational culture that continues to be a strong enabler for its alongside a talented team of governors, a fi rst-class senior leadership people to thrive in. This is an exciting time for the bank and the fi nance team, support teams and an entire staff of people who go to great lengths sector as a whole and I am looking forward to ensuring we continue to deliver the best they possibly can to ensure our pupils achieve at such to operate a resilient operating platform that provides an exceptional a high level.’ experience to our clients and to deliver on our growth strategy.” Mr Clucas says College has, traditionally, played a key role in Island life for Nick Leale was born and educated in Guernsey. He holds the Institute nearly two centuries, both in terms of the investment in education but also of Directors Certifi cate and Diploma in Company Direction; he has in its contributions to Island life and in the wider community. previously represented the Island in both playing and coaching basketball ‘King William’s College is many things to many people,’ he continued. and now enjoys time with his young family and attempting to hit a golf ball.

34 | LifestyleHELPING YOU MAKE THE MOST OF WORK AND PLAY

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Melderstein Manor, agrandtraditionalSwedish building,wasfi rst Located 12kmfromRåneå,insub-arcticregionofSwedish Lapland, experience andfeelpartofthislivingpiecehistory.” alone, wewanttonowwelcomeguestsfromaroundtheworld for anyonestaying.Withourfamilydatingbackto1740inthishouse ancestral familyhome, whichmakes itareally personalexperience B365: “NotonlyisthisapartofNorthernSweden’s history, butitisour great, greatgranddaughteroftheManor’s founder, told Katarina Thingvall,ownerofMeldersteinandthegreat, Thingwall, whilstcallingthemanoryourhomeforrestoftheirstay. be hostedbydirectdescendantsoftheoriginalowner, Carl-Johan profi tsofthe fi rstminingconcessionintheregion.Here, guestswill road tostayatatraditionalSwedish manorthatwasbuiltfromthe footsteps ofyesteryear, astheyjourneyalongtheoriginalIronOre its doorstoanewtravelexperiencewhereguestsfollowinthe Melderstein, deepintheheartofSwedish Lapland, hasnowopened the 9thgenerationofitsfounderin1740 Stay atamanorsteepedinSwedish historyalongwith guests ofitsfounder’s descendants,280yearsafteritwasbuilt? COVID 19, whynotbecomelordand ladyofaSwedish manoras f youarelookingtogetawaywithyourfamilyastravelreturnsfrom | ORE’ OFTHEHISTORY https://www.swedishlapland.com visit For moreinformationaboutthehotelandnewexperience costs from£790pernight,onaB&Bbasis. on aB&Bbasis.Exclusive useofthemanor, whichsleeps11people, A nightatMelderstinmanorcostsfrom£57perpersonintwinroom, melderstein.se. from DecembertoMarchitcanbebooked directlythroughwww. to learnmoreaboutthisfascinatingbuildingandfamily. Available the chancetomeetanddinewithKatarina andherfather, Göran, the manoralongIronOreroadbydogsled,beforeenjoying www.melderstein.se ortolearnmoreabouttheregionvisit I – don’tneglectyoursocialmedia Starting uppostCovid customers. crisis hasalteredwhatyoutellthose And toconsiderwhethertheCovid refresh yourshopwindowtogood eff ect. starting upagain,thisisagoodtime to For businessesthathavepaused, andare purpose. use yourtimeonsocialmediatogood Which makes itallthemoreimportantto ‘manning social’included. has peopleassignedto, marketing and fulfi lseveryfunctionalargercompany smaller operationswheretheowner resource forbusinesses.Especially Now, morethanever, timeisaprecious off ering. Covid-19 forcesthemtoreshapetheir adapting ataphenomenalpaceas Businesses intheIsleofManare re-dress them. as busyownersstruggletofi ndtimeto Yet someare, understandably, neglected, channels aretheirvirtualshopwindows. For mostbusinesses,theirsocialmedia The answerisaresoundingno. what youstandfor? not refl ectiveoftheitemsyousellor stockroom, butanunkempt window, you haveawell-trained staff ,areplete f yourbusinesswereashop, would and hasworked incommunicationsfor32years. Jo OvertyMCIPRwasafoundermemberoftheIsleManGovernment’s socialmediausergroup By JoOverty light-hearted. weekend, wantthingstobeabitmore serious headsonMondaysbut, bythe the weekaff ectsmarketing. We haveour people seekoptimism.Eventhe timeof frivolous marketing, so, asweemerge, of theCovidcrisiswasn’t thetimefor What elseisgoingon? Justasthestart TIMING ISEVERYTHING weather, orsomethingelseinthenews. the virus,fi nancialimpact,thehot and talkingaboutthatday, whetheritbe what yourcustomersarethinkingabout right timeandalignyourmessageswith snowstorm, beintherightplaceat as youwouldn’t sellabarbecuein What dopeoplecareabouttoday? Just KEEP ITTOPICAL refl ectedinyoursocialmediaoutput. innovative, evenplayful?Make surethatis product assafe, secure, adventurous, you wantcustomerstoseeandyour What isyourbusiness’s personality? Do WHO AREYOU? Some tips: your valuableminutesonline. are aimingfor, beforeusinga fewmoreof three -soworkoutwhichofthese you hearts orpockets -or, occasionally, all Messaging impactsoncustomers’ heads, as aresultofyoursocialposts. people todo, or tofeelsayaboutyou, think oftheendresult.Whatdoyouwant Last butcertainlynotleast, whenposting, START AT THEEND entice insomeonewhoisstridingalong. a busyhighstreetneedstostandout attention, justasarealshopwindowon they scroll.Soyourpostsneedtograb place andpeople’s attentionisscantas by? Socialmediaisanovercrowded How canyouattractthecasualpasser PICK ME reducing plasticuse, forinstance? your goodwork,supportingcharities,or clear onyourchannels? Doyouhighlight Does yourethoscomeacrossloudand businesses thatfi tinwiththeir own ethics. choose togivetheirhard-earnedmoney What doyoustandfor?Increasingly, people TAKE THEPULSE | 37

COMMUNITY COMMUNITY 38 T condensation. to problemsincludingrainpenetration and of historicbuildings,makingthemvulnerable interface betweentheexteriorand interior Stained glasswindowsformahighlysensitive now removedandundergoingconservation”. lead-work, withalleighteenstainedglasspanels engaged tocarefullyremovetheglassand Church, aspecialistcontractorwasrecently is wellunderway. Led bytheFriendsofJurby to restoretheWilliamFarrantmemorialwindow Heritage toldB365:“We aredelighted thatwork Edmund Southworth,DirectorofManxNational Church asitisknowntoday. lasting legacyisSt Patrick’s Church orJurby endured longintothe20thCenturyandtheir The Farrantfamily’s infl uenceinthe parish Century. in theparishofJurbyuntilend19th William FarrantofBallamoar, whosefamilylived It was originally installed as a memorial to It wasoriginallyinstalledasamemorialto depicts St Patrick baptisingSt Maughold. he 19thCenturystainedglasswindow natural andculturalheritage, hassupportedtheFriendsofJurbyChurchintheireff orts toconserve | Manx NationalHeritage, thecharityresponsibleforcareandpromotionofIsleMan’s and restoreauniquestainedglasswindowatSt Patrick’s ChurchinJurby. craftsmanship involved in the restoration and craftsmanship involved intherestorationand Robert Bullock’s photographstheskillsand two years.Ithasbeenfascinatingto seefrom the focusoftheirfund-raisingfor past beautiful St. Patrick and St. Maughold window The Friendshavemadetherestoration ofthe the parishofJurbyandIsleMan, are signifi cant tothehistoryandheritageof “The stainedglasswindowsinJurbyChurch Church added: Sandra Kerrison ofTheFriends ofJurby Robert Bullock. by Ballasallabasedstainedglasscraftsman, The windowisnowundergoingconservation weather”. and suff eringtheimpactofoveracentury’s window inJurbyChurchwassouthfacing glass isfragileandvulnerable. Thisparticular the realityisoftenverydiff erent. Stained appear tohavesurvivedtheravagesoftime, commonly viewedfromadistanceandmay of colourinstainedglasswindowsare Mr Southworthcontinued:“Whilstthefi elds news, donate and support news, donateandsupport manxnationalheritage.im Manx National Heritage, Manx NationalHeritage, their work, please visit: their work,pleasevisit: sign up to their latest sign uptotheirlatest information on information on For further For further at JurbyChurch helps conserve helps conserve across theIsleofMan”. really impressivecommunityheritageprojects charity’s prioritiesithasmadepossiblesome generous andaswellsupportingthe “Mr Collister’s bequestwasremarkably Mr Southworthcommented: Collister’s memory. amount offundingtolocalheritagein“Donny” Heritage decidedtoallocateasignifi cant consultation theTrustees ofManxNational John DonaldCollister. Followingapublic years duetoagenerousbequestbythelate projects acrosstheIsleofManinrecent support overtwentycommunityheritage Manx NationalHeritagehasbeenableto back inJurbyChurchlaterthesummer.” we arelookingforwardtoseeingthewindow uuHXhdxpI4g conservation inaction:https://youtu.be/ Jurby Church.To viewJurbyChrchwindow, 19th Centurystainedglasswindowfrom IMAGE: window stained stained Robert Bullock, workingonthe Grant Grant MNH MNH glass glass Manx National Heritage

C GOOGLE ARTS &CULTURE MANX NATIONAL HERITAGE PARTNERS WITH world’s mostfamouscollections. heritage, hasjoinedforceswithGoogletoshareitshistoriccollectionsalongsidethoseofthe Manx NationalHeritage, thecharityresponsibletoIsleofMan’s natural andcultural of Manascapturedbypastvisitorsandartists. monuments andstillwell-lovedplacesoftheIsle they presentavibrantpictureofthelandscape, Isle ofManfromtheArtCollection. Together digitised 18thto19thcenturysketches ofthe its GoogleArts&Culturepagewiththerecently Manx NationalHeritagehaschosentolaunch anyone, anywhere. world’s artandcultureonlinesoit’s accessibleto around theworldtopreserveandbring working withculturalinstitutionsandartists Google Arts&Cultureisanon-profi tinitiative exhibitions tocome. Arts &Culturewithmorecollectionsandonline P must bebroughttositeforinspection. im/camping [email protected], which canbeappliedforonlineatwww.gov. Both thebookingreferenceandpermit, them tostayforamaximumof14nights. Eventbrite anda£16permitwhichallows To staypeoplewillneedtobookapitchvia times. site wardenandcheck-in andcheck-out pitches, theintroductionofapermanenton include thelimitingandspacingofcamping safety standardsandcurrentbyelaws.They model standardsforcampsites,healthand the Claddaghisrun,soitcomplieswith be anumberofnoticeablechangestohow When overnightcampingreturnstherewill 17 July-whenthetoiletfacilitiesreopen. Camping intentswillbeallowedfromFriday motorhomes andcaravansonFriday3July. the Claddaghinstages–startingwith the IsleofManGovernmentwillreopen Following theendofthesemeasures been off limitsduetoCovid-19restrictions. May andSeptember, butsofarthisyearhas The areaisnormallyavailablebetween changes ontheirnextvisit. Permits requiredforstaysofupto14nights atacostof£16 to reopenwithsomechanges... Sulby Claddagh of Man are now discoverable on Google of ManarenowdiscoverableonGoogle Heritage whichtellthehistoryofIsle ollections caredforbyManxNational again this season but will notice some again thisseasonbutwillnoticesome stay overnightattheSulbyCladdagh eople intheIsleofManwillbeableto for picnicsandrecreation. The Claddaghisavailabletoallduring theday registered campsitesfi rst.’ try outsomeoftheIsland’s wonderful campers, whonormallyusethesite, to economic times-soweencourage commercial campsitesarefacingdiffi cult ‘The departmentisawarethatmany sure theuserexperienceisgood. and mydepartmentisworkinghardtomake opening again.We havehadtomake changes to localpeopleandI’mdelightedseeit recognise theimportanceofCladdagh Agriculture, whomanagethesite, said:‘I Department ofEnvironment,Foodand Geoff reyBootMHK,Ministerforthe without apermitcanbefi nedupto£2,500. be purchasedonsite. Anyonefoundcamping Permits mustbeclearlydisplayedandcannot of theIsleMan’, whichincludesGoogleStreet An onlineexhibitioncalled‘Sketchbook Tours seascapes orthegreenofManxcountryside. intriguingly, bythecolourblueofmany the sketches bypopularity, timeor, most Google Arts&Cultureallowsvisitorstoorganise newsprint content free. the decisiontomake searchingthis1792-1960 public tellingushowmuchthey’veappreciated iMuseum Newspapers&Publications withthe on theIsleofMan. Possibly mostliked ofallis out about,notcollections,butwildlife spottings Biodiversity NetworkAtlas IsleofManforfi nding for summariesofkey archives; and National models oftheManxCrosses;ArchivesHub Art Collection;Sketchfab for playingwith3D Art UKwhereyoucancurateworksfromthe over 1millionrecordsand60,000 images; iMuseum websitewww.imuseum.im , with Heritage collectionsincludingthehome-grown free, onlinewaystoenjoyManxNational Google Arts&Culturejoinsanumberofalready collections goingonline. and moreofthemuseum,libraryarchive National Heritagehowmuchtheyvaluemore greater. VisitorshaveincreasinglytoldManx The needtodigitallyreachouthasneverbeen partner/manx-national-heritage. go aheadandvisitartsandculture.google.com/ audiences intouchwithcollections. Meanwhile ongoing andmuchwiderprogrammetoput year byManxNationalHeritageaspartofthe More collectionsandstorieswillbeaddedthis earliest tolaterdecades. highlighting justsomeofthekey ridersfromthe TT Races alsofeaturesasanonlineexhibition Badger Photographic with theIsleofMan, Accompanying thesketches istheTTTom and enjoyed.” sketches andwatercoloursnowtobeviewed collection ispubliclyaccessible, withover500 with GoogleArts&Culturehasensuredthis their own.OuriMuseumandonlinepartnership National Heritage’s onlinecollectionscameinto During themonthsofmuseumclosure, Manx due totherecentlockdown, couldnotgoahead. originally plannedasaphysicalexhibitionwhich, “Sketchbook Tours oftheIsleManwas Hannah Murphy. Hannahsays: by ManxNationalHeritageAssistantCurator, journals anddiariesofthetime, hasbeencurated View andaudioclipsfromsomeofthetravel | 39

COMMUNITY MYBIOSPHERE # 40 A This month,Geoff Karran MBETHwrites: of the Island to Snaefell and the north. of theIslandtoSnaefellandnorth. Castletown, SouthBarruleupthroughthemiddle the Chicken’s Rock, pasttheancientcapitalof 12th teeatCastletown,whereyoucanlookto My favouriteplaceinmybeautifulIslandisthe keep playinguntilmy40s. Then Itookupgolf. My passionwascricket, which Imanagedto sports. coming toourIslandcompeteindiff erent Youth Gameswith67nationsaroundtheworld Also in2011wehostedtheCommonwealth Islands competeinupto14sports. sports. Thisisnowabiennialeventand24 representing smallislandscompetedinvarious hosted thefi rstIslandGames,whereteams In 1985,wecelebratedaYear ofSportand sport havegrownandgrown. and, asIhavegonethroughlife, thefacilitiesfor This IslandcanreallybecalledanofSport of Castletown,whetherplayingfootballorcricket. me andwewatchedsupporteddad’s team My father’s passionforsportwaspassedonto for sandcastles. Erin, Port St MaryandPeel wereourfavourites rocks searchingthepools.ThebeachesofPort now-defunct boatingpoolorclamberoverthe favourite spot,wherewecouldsailboatsinthe from. ThepointatPort St Marywasmyfather’s south ortoPeel, wheremymother’s familycame weekends weredividedbetweenvisitstothe father hadmovedtoDouglasbutmostofour By thetimeIwasborn,bothmotherand of theBigKarran ofCregneish. to the13thCenturyandIamadirectdescendant on myfather’s sidecantracetheirancestryback I amproudtocallmyselfaManxman.Myfamily beautiful IsleofMan. To find outmoreaboutUNESCOBiosphereIsle of Man,ortoapplybeapartner, visitwww.biosphere.im, fortunate to have lived all my life in the fortunate tohavelivedallmylifeinthe London atlawcollege, Ihavebeen part fromtwoshortperiodsspentin | 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 greatest Manxcommunityeventwithupto1,600 In laterlife, Ihavetaken partinwhatisthe the Calfinbackground. there wouldbeacompulsoryphototaken with to theSound,KitterlandandCalf. Everytime, had todrivethroughCregneishandthendown the Island.Whenevertheycamebackhomewe our Island.Bothmyboysspenttimelivingoff in beingManxandwithaloveofthebeauty My childrenhavegrownupwiththesamepride of beautyinonepainting. be impossibletorecreatesuchawideexpanse paint apictureofallIcouldseebutsaiditwould I onceasked localartistDavidByrneifhecould the FreedomofBoroughDouglasandTynwald Honour. several charitiesontheIslandhelpingpeoplewithlearningdisabilities.Heisrecipientof Chairman andDirectorofthe2011CommonwealthYouth Gamesandisstillassociatedwith Chairman oftheFinancialServicesAuthority, former ChairmanofIsleManSportand Geoff Karran MBEisaretiredadvocate, formerPresidentoftheIOMLaw Society, former status, refl ectingitisaspecialplaceforpeopleandnature. Inour an early age that I would never want to leave. an earlyagethatIwouldneverwanttoleave. of mybeautifulhomeland-aplaceIknewfrom So myloveofsporthasenabledmetoseemore year. and gettoeitherBallaughorJurby. Maybenext decided tohaveonelastgobeatthatrecord Kirk Michael,adistanceof39miles,butIhave this event.Mybesteff ortsofarwastoreach I knowwillneverbegoodenoughtofi nish Manx people. a vehicle, butalsowitnessthefriendlinessof facets oftheManxcountryside, notvisiblefrom not onlyenablesyoutoseesomanyinteresting people competingintheParish Walk. Thewalk perspective on #MyBiosphere. perspective on#MyBiosphere. MYBIOSPHERE # A This month,Geoff Karran MBETHwrites: of the Island to Snaefell and the north. of theIslandtoSnaefellandnorth. Castletown, SouthBarruleupthroughthemiddle the Chicken’s Rock, pasttheancientcapitalof 12th teeatCastletown,whereyoucanlookto My favouriteplaceinmybeautifulIslandisthe keep playinguntilmy40s. Then Itookupgolf. My passionwascricket, which Imanagedto sports. coming toourIslandcompeteindiff erent Youth Gameswith67nationsaroundtheworld Also in2011wehostedtheCommonwealth Islands competeinupto14sports. sports. Thisisnowabiennialeventand24 representing smallislandscompetedinvarious hosted thefi rstIslandGames,whereteams In 1985,wecelebratedaYear ofSportand sport havegrownandgrown. and, asIhavegonethroughlife, thefacilitiesfor This IslandcanreallybecalledanofSport of Castletown,whetherplayingfootballorcricket. me andwewatchedsupporteddad’s team My father’s passionforsportwaspassedonto for sandcastles. Erin, Port St MaryandPeel wereourfavourites rocks searchingthepools.ThebeachesofPort now-defunct boatingpoolorclamberoverthe favourite spot,wherewecouldsailboatsinthe from. ThepointatPort St Marywasmyfather’s south ortoPeel, wheremymother’s familycame weekends weredividedbetweenvisitstothe father hadmovedtoDouglasbutmostofour By thetimeIwasborn,bothmotherand of theBigKarran ofCregneish. to the13thCenturyandIamadirectdescendant on myfather’s sidecantracetheirancestryback I amproudtocallmyselfaManxman.Myfamily beautiful IsleofMan. To find outmoreaboutUNESCOBiosphereIsle of Man,ortoapplybeapartner, visitwww.biosphere.im, fortunate to have lived all my life in the fortunate tohavelivedallmylifeinthe London atlawcollege, Ihavebeen part fromtwoshortperiodsspentin 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 greatest Manxcommunityeventwithupto1,600 In laterlife, Ihavetaken partinwhatisthe the Calfinbackground. there wouldbeacompulsoryphototaken with to theSound,KitterlandandCalf. Everytime, had todrivethroughCregneishandthendown the Island.Whenevertheycamebackhomewe our Island.Bothmyboysspenttimelivingoff in beingManxandwithaloveofthebeauty My childrenhavegrownupwiththesamepride of beautyinonepainting. be impossibletorecreatesuchawideexpanse paint apictureofallIcouldseebutsaiditwould I onceasked localartistDavidByrneifhecould the FreedomofBoroughDouglasandTynwald Honour. several charitiesontheIslandhelpingpeoplewithlearningdisabilities.Heisrecipientof Chairman andDirectorofthe2011CommonwealthYouth Gamesandisstillassociatedwith Chairman oftheFinancialServicesAuthority, former ChairmanofIsleManSportand Geoff Karran MBEisaretiredadvocate, formerPresidentoftheIOMLaw Society, former status, refl ectingitisaspecialplaceforpeopleandnature. Inour an early age that I would never want to leave. an earlyagethatIwouldneverwanttoleave. of mybeautifulhomeland-aplaceIknewfrom So myloveofsporthasenabledmetoseemore year. and gettoeitherBallaughorJurby. Maybenext decided tohaveonelastgobeatthatrecord Kirk Michael,adistanceof39miles,butIhave this event.Mybesteff ortsofarwastoreach I knowwillneverbegoodenoughtofi nish Manx people. a vehicle, butalsowitnessthefriendlinessof facets oftheManxcountryside, notvisiblefrom not onlyenablesyoutoseesomanyinteresting people competingintheParish Walk. Thewalk perspective on #MyBiosphere. perspective on#MyBiosphere. THE PROPERTY MARKET WORKING FROM HOMEAND T “It’s almostimpossibletooverpayforaproperty. Butyoucanbuytooearly.” many peoplebelieve it’s very real. over therestof2020, thefi rstofwhichmaysoundalittle nebulous,though There aretwootherimportantfactors likely toinfl uencepropertyvalues usually takes alead… rosier thanitdidafewmonthsago. It’s amarket from whichtheIsland the propertymarket ontheothersideofIrishSeaappearsconsiderably suspension ofStamp Dutyon(non-investment)salesupto£500,000 and 6% uponthesamefour-weekperiodin2019. AddintheUK’s temporary were morethan50%highertheyinmid-Mayand,signifi cantly, This refusalprovedasmartmove:bythebeginningofJune, housesales below whichvendorswerenotpreparedtoventure. an elementofpredictablehorsetrading,therewasafl oor(ofaround5-6%) buyers triedtonegotiatereductionsinhousepricesandwhiletherewas Another estateagency, Winkworths,reportedthatduringlockdown, some whereas estateagentsKnightFranksuggestamoremodest3%correction. are particularlybearish:theyforecasta13%falloverthenextsixmonths, Economists attheCentreforEconomicandBusinessResearch (CEBR) second halfof2020? However, doesthisautomaticallymeanthatpriceswilltumbleduringthe more thanadecadebecausethey’rebasedonactualpropertytransactions. market) whichrevealedthehighestmonthlyfallinaveragehouseprices It’s diffi culttoarguewith UK fi gurespublishedinMaybyNationwide(forthe predictions. especially whenthereislittleunanimityamongthosemakingfuture than wheretheyweresixmonthsago. Suchcautionmakes sense, prospective owner-occupiersaremoreinterestedintheirfuturedirection the startof2020andpriceshaveswung,majorityinvestors Though propertymarket conditionsarediff erenttowhattheywereat values havefl uctuated. peak-and-trough graphrefl ectingthestrikingdegreetowhichpricesand moving inasteady, upwarddirection,we could expectajagged,dramatic property valuesoverthelast40yearswouldnotbestraight.Though Historically, propertypricesover-react.A line graphdepictingaverage reticent. property endoftheinvestmentspectrumhastendedtomake othersmore investors topartwiththeirhard-earned,lessbullishprojectionsfromthe Yet ifthepaperpromiseofoutlandishreturnsissuffi cienttopersuadesome people willthinkotherwise. Upon readingthis,credibilitydrainedfromtheoff er, thoughdoubtlessmany percent! was oneproblem;thefi xed returnwasathumping15%perannum.Fifteen business issuingthenotewasoperatinginagrowingmarket, butthere was payableannuallyandtheloanconvertedtostockin36months.The off eringa fi xed,three-yearreturnfromaconvertibleloannote. Thecoupon Here’s anexample. Earlierthismonth,Ireceivedanemailfromacompany Cat’s Ear, soonreturninaslightlydiff erentguise. income-seeking investors,they’reextremelydiffi culttoeradicateand,like ridiculously attractive‘alternativeinvestments’ take rootinthemindof Hypochaeris radicata,commonlyknownasCat’s Ear. Oncedetailsofthese The metaphorwillfeelapttoanyonewhohaseverdonebattlewith garden weed. more attractivethanpropertybloomwiththefrequencyofatroublesome history, soinvestmentoff erswhich,onpaperatleast,appearsignifi cantly While wecontinuetoemergecautiouslyfromanunparalleledphaseinour never seemed more apposite than at present. never seemedmoreappositethanatpresent. industry morethanaquartercenturyago, hasstuckwithmeand his sageadvice, givenbya(then)seniorfi gureintheUKproperty forecasters might think. forecasters mightthink. few suspectthey’reacquiringpropertytoosoon,irrespectiveofwhat through aperiodwhereitisdiffi culttooverpayforaproperty. Meanwhile, It wouldappearthatenoughpropertybuyersbelievewe’re going 5% whilethey’restillavailable.” attracting investorskeen tolock-in grossannualrentalreturnsapproaching is havingapositiveeff ectupontheIsland’s newbuildmarket; it’s also to aff ordalargerpropertythantheyoriginallyimagined.Thiscombination She adds:“As loancostshavetumbled,somepeoplearenowinaposition Jones. want fromanewhomeandtokeep trackoffallingmortgagerates,” saysMs “Lockdown hasaff ordedanopportunityforpeopletothink aboutwhatthey resulted inpeoplemakingspeedierdecisionstobuy. costs has,accordingtoJulieJonesofDouglas-basedHartfordHomes, The combinationofattitudinalchange, coupledwithcheapermortgage loan-to-value productsduetoexcessive demand. the costofborrowinghasfallen,forcingseverallenderstosuspend90% Second, astherangeofmortgageproductshasincreasedsincemid-June, prices. balance, asubtlechangeinattitudelikely tohaveanimpactuponhouse decided thatworkingfromhomepresentsthemwithanimprovedwork-life Anecdotal evidencesuggeststhatasignifi cantnumberofpeoplehave inherently relaxed natureandarereluctanttoreturnthedaily9-5grind. In short,asizeableproportionofpeoplehaveenjoyedlockdown’s time withtheirfamiliesand,surprisingly, tobeconsiderablymoreproductive. escape thedailycommute, toworkremotelyfromhome, tospendmore Lockdown gavearareopportunitytoapproximately halftheworkforceto Hartford Homes currently have a range of modern, Hartford Homescurrentlyhavearangeofmodern, new build investment properties available for sale, new buildinvestmentproperties availableforsale, yielding around 5%. For details of residential and yielding around5%.Fordetails ofresidentialand [email protected] or telephone 01624631000. commercial investmentproperty, email By Peter Sharkey | 41

PROPERTY COMMUNITY THE BIGSUMMERWALK IT’S NOT TOO LATE TO SIGNUPANDSTEP UPFOR 42 raises £35 or more is rewarded raises £35ormoreisrewarded Left toright:JoySpence, SueCook,Lucy NelsonandLisaMorris(infront)fromJA outandaboutpromotingTheBigSummerWalk. To fi nd outmoreandsignup, great prizes up for grabs too. great prizesupforgrabstoo. completes the challenge and completes thechallengeand to: www.jaiom.im/event/the- call (01624) 666266 or head call (01624)666266orhead with TheBigSummerWalk medal, and there are other medal, andthereareother Every individual who Every individualwho big-summer-walk/. | F of theIslandthey mayhaveneverbeen! to getmorepeopleoutandabout, exploringparts and partoftheinspirationbehind challengewas have beenon.We liveonsuchabeautifulIsland fun hearingaboutallthelovelystomps participants The BigSummerWalk todateandhavehadgreat said: ‘We havebeendelightedwith theinterestin Junior AchievementChiefExecutive SueCook and hassomefunintheprocess. just asksthateveryoneraisesasmuchtheycan minimum fundraisingamountrequired,thecharity suitable forallagesandabilitiesthereisno too latetosignup!Itiscompletelyfreeregister, challenge sofarandisremindingothersitnot who hassteppedupforthesummerfundraising Chase Wealth Solutionsarethanking everyone Junior AchievementIsleofManandeventsponsor 2020. walk, jogorrun100kilometresby7thSeptember pledged toputtheirbestfootforwardand in June, morethan130peoplehavealready ollowing thelaunchofTheBigSummerWalk Junior Achievement raiselotsoffundsintheprocess.’ Wealth isreallyexcited tosponsorthiswalkandhelp over theweekend –itiscompletelyuptoyou!Chase is acoupleofkilometresdayorsome heftywalks it atyourownpaceintime –whetherthat ‘What Ilike aboutthechallengeisfactyoucando until now. views recently, viewsthatIhaven’t appreciatedfully lucky enoughtoexperiencesomestunningManx blessed toliveonsuchaspecialIslandandI’vebeen exploring theIsleofManonfootwithmyfamily. We’re has givenmethepushIneededtogetoutandabout up forthechallenge. Hesaid:‘TheBigSummerWalk Solutions, thesponsorofevent,arealsostepping Paul Chaseandhisfamily, fromChaseWealth Manx airandtake on#100kforJA!’ on theirwalkingboots,headoutsideforsomefresh age, fi tnesslevelsorability-togatherthetroops,slip week, easy!We encourageeveryone–regardlessof very achievableandworksoutatjustover14kmper just undersevenweekstotacklethe100km.Thisis ‘The challengeendson7thSeptembersopeoplehave COMMUNITY THE BIGSUMMERWALK IT’S NOT TOO LATE TO SIGNUPANDSTEP UPFOR raises £35 or more is rewarded raises £35ormoreisrewarded Left toright:JoySpence, SueCook,Lucy NelsonandLisaMorris(infront)fromJA outandaboutpromotingTheBigSummerWalk. To fi nd outmoreandsignup, great prizes up for grabs too. great prizesupforgrabstoo. completes the challenge and completes thechallengeand to: www.jaiom.im/event/the- call (01624) 666266 or head call (01624)666266orhead with TheBigSummerWalk medal, and there are other medal, andthereareother Every individual who Every individualwho big-summer-walk/. F of theIslandthey mayhaveneverbeen! to getmorepeopleoutandabout, exploringparts and partoftheinspirationbehind challengewas have beenon.We liveonsuchabeautifulIsland fun hearingaboutallthelovelystomps participants The BigSummerWalk todateandhavehadgreat said: ‘We havebeendelightedwith theinterestin Junior AchievementChiefExecutive SueCook and hassomefunintheprocess. just asksthateveryoneraisesasmuchtheycan minimum fundraisingamountrequired,thecharity suitable forallagesandabilitiesthereisno too latetosignup!Itiscompletelyfreeregister, challenge sofarandisremindingothersitnot who hassteppedupforthesummerfundraising Chase Wealth Solutionsarethanking everyone Junior AchievementIsleofManandeventsponsor 2020. walk, jogorrun100kilometresby7thSeptember pledged toputtheirbestfootforwardand in June, morethan130peoplehavealready ollowing thelaunchofTheBigSummerWalk Junior Achievement raiselotsoffundsintheprocess.’ Wealth isreallyexcited tosponsorthiswalkandhelp over theweekend –itiscompletelyuptoyou!Chase is acoupleofkilometresdayorsome heftywalks it atyourownpaceintime –whetherthat ‘What Ilike aboutthechallengeisfactyoucando until now. views recently, viewsthatIhaven’t appreciatedfully lucky enoughtoexperiencesomestunningManx blessed toliveonsuchaspecialIslandandI’vebeen exploring theIsleofManonfootwithmyfamily. We’re has givenmethepushIneededtogetoutandabout up forthechallenge. Hesaid:‘TheBigSummerWalk Solutions, thesponsorofevent,arealsostepping Paul Chaseandhisfamily, fromChaseWealth Manx airandtake on#100kforJA!’ on theirwalkingboots,headoutsideforsomefresh age, fi tnesslevelsorability-togatherthetroops,slip week, easy!We encourageeveryone–regardlessof very achievableandworksoutatjustover14kmper just undersevenweekstotacklethe100km.Thisis ‘The challengeendson7thSeptembersopeoplehave RAISE NEARLY £3,000 FORCROSSROADS CHARITY LIFE CYCLE: QUILTER INTERNATIONAL CYCLISTS to MoscowfromLondon, andtoraise£2,000 forThe challenge initiallyhopingtocollectivelyreachthedistance “I asked colleaguestotake partinateamvirtualcycling Mark Satchel,ChiefFinancialOffi ceratQuilterplc,said: for Crossroads’ Young CarersProject. supporting athreeyear(2019to2021)fundraisingcampaign International (withhelpfromTheQuilterFoundation)is Crossroads Young Carerswillreceive£2,956.Quilter numbers ofcyclistswhotookpartinthosecountries–so between theIsleofManandUKcharitiesbasedon Island, andtheCarersTrust intheUK.Itisbeingdivided charity partners,CrossroadsYoung Carershereonthe That sumisbeingdonatedtoTheQuilterFoundation’s over £26,000. funds werematchedbyQuilterplctakingthetotalupto weekend –equaltocyclinghalfwayaroundtheworld!The collectively cycledinexcess of17,500km overone people overcomebarrierstoprosperity)afterthey Foundation (aregisteredUKcharitywhichhelpsyoung its HQinOnchan–raisedover£13,000 forTheQuilter their internationalarm,QuilterInternational,whichhas Employees fromacrosstheQuilterplcgroup–including care forcarers. Manx-registered charitywhichhelpsto nearly £3,000 forCrossroads,the part incharitybike ridesthatraised their colleaguesaroundtheworldtook Quilter Internationalemployeesand event. the charitycycling who tookpartin the IsleofMan employees from International both areQuilter Tom Richmond– Laura Morrisand additional support toyoungcarersintheUKandIsle ofMan.” able toraisemorethan£26,000 fortheQuilterFoundation,andtherebyprovide just over17,500km. Iamparticularlypleased thatthroughthisendeavourwewere smashed ourcollectivetargetof14,300kms and‘reached’Melbournebybiking team, takingtoroadbikes, mountainbikes, Zwift,Peloton andeventandems,we and take ushalfwayacrosstheworld.Thanksto tremendouseff ortsofthe New York, CapeTown andTokyo with120cyclistsregisteringtogetontheirbikes Quilter Foundation.We managedto surpassthreefurtherdestinationtargets, Some oftheQuilteremployeeswhogotoutontheirbikes onroadsandtrails. Mark Satchel,ChiefFinancialOfficer atQuilterplc,tookpartinthecyclingchallenge. | 43

COMMUNITY SCHOOLS 44 T ‘explore’ anasteroid. summer SpaceSchoolinHoustonwillinsteadtake partinaglobalvirtualchallengeto Three IsleofManstudentswhoshouldhavebeenpackingtheirbagstotravelthe Space Schoolwithadierence Isle ofManstudentsallsetforasummer university aftersixth form. maths, andisaimingtostudybiology at at A-level,alongsideanAS levelinfurther Sophie isstudyingmaths,biology, andphysics our competitionduringtheirschool career.” students willhavehadtheopportunity toenter year only–sothatallIsleofMansixth-form to bothYear 12andYear 13 students–forthat 2021/2022, ourcompetitionwouldbeopen 2020/2021 academicyear. However, for school scholarshipcompetitioninthe “ManSat would,therefore, notrunitsspace Houston nextJuly. for Sophie, BenjaminandJosephtogo the USSisheldasnormalin2021,weintend in theseunusualcircumstances. Provided sure Sophie, BenjaminandJosephwillexcel should beanexciting alternativeandweare The USSorganisershavearrangedwhat the studentsnottobeablegoHouston. Offi cer, said: “Obviously, itisdisappointingfor Dr JenniferStone, ManSat’s ChiefTechnical scientists. including astronauts,NASA engineersand interacting withspaceindustryprofessionals the latesttechnologyandindustrystandards, As withtheUSS,studentswillbeexposedto Manufacturing andTransportation. service inthefollowingcategories:Mining, will buildaproposalandwinbidfor the necessaryinfusionofcapital.Eachteam while expandingresourcesandfacilitating pollution andfurtherscientifi cdiscoveries, can commercializespacetoreduceEarth to anasteroid,investigatinghowhumanity The missionisforeachteamtoplanatrip conducted virtuallyviavideocalls. Space School(GSS),atwo-weekproject Island-bound astheyparticipateintheGlobal Instead, Sophie, BenjaminandJosephwillbe plan asimulatedcrewedmissiontoMars. than 20countriesaroundtheworldasthey each yearbringstogetherstudentsfrommore to plansstagethisyear’s gathering,which However, theCovid-19pandemic putpaid Dunne fromRamsey GrammarSchool. School inPeel andBenjaminLiJoseph by SophieBellfromQueenElizabethIIHigh Centre andUniversityofHouston-werewon (USS) -attheNASA JohnsonSpace to attendNASA’s UnitedSpaceSchool he annualManSatGroupscholarships | equations. Naturally, itwasdisappointing of physics,e.g. orbitalmechanicsandlaunch of theprojectwhichinvolveapplication He said:“Iammostinterestedinthe areas energy oraerospace. with aviewtocareerin engineering atuniversity, planning tostudy at A-levelandis and furthermaths chemistry, physics, Benjamin isstudyingmaths, person nextyear.” opportunity toattendtheUSSin and scholarships,forthe providing thecompetition like tothankManSat for space travel.Iwould the developmentof perspective on new, interesting think thatitisa project, asI aspect ofthe competitive the commercial/ looking forwardto asteroid mission,Iam She said:“Forthe – ManSatGroup’s SpaceSchoolscholarshipwinners2020 Sophie Bell,BenjaminLi(centre)andJosephDunne for moreinformationaboutthe of thecompany’s scholarships, www.unitedspaceschool.org www.mansat.org fordetails and details onManSatitself. Space Schooland www.mansat.com for Please visit experience relevant tomyfi eldofinterest.” around theworldandgainsomuch valuable chance toworkwithamazingpeople fromall hugely gratefultoManSatforgiving methe great opportunityforManxstudents, andIam to gonextyear. Thecompetitionisa and to have the opportunity and tohavetheopportunity

there is still a project, there isstillaproject, However, Iamgladthat from around the world. from aroundtheworld. meet all the people meet allthepeople full experience and full experienceand get to have the get tohavethe that I wouldn’t that Iwouldn’t knowing knowing SCHOOLS T ‘explore’ anasteroid. summer SpaceSchoolinHoustonwillinsteadtake partinaglobalvirtualchallengeto Three IsleofManstudentswhoshouldhavebeenpackingtheirbagstotravelthe Space Schoolwithadierence Isle ofManstudentsallsetforasummer university aftersixth form. maths, andisaimingtostudybiology at at A-level,alongsideanAS levelinfurther Sophie isstudyingmaths,biology, andphysics our competitionduringtheirschool career.” students willhavehadtheopportunity toenter year only–sothatallIsleofMansixth-form to bothYear 12andYear 13students –forthat 2021/2022, ourcompetitionwouldbeopen 2020/2021 academicyear. However, for school scholarshipcompetitioninthe “ManSat would,therefore, notrunitsspace Houston nextJuly. for Sophie, BenjaminandJosephtogo the USSisheldasnormalin2021,weintend in theseunusualcircumstances. Provided sure Sophie, BenjaminandJosephwillexcel should beanexciting alternativeandweare The USSorganisershavearrangedwhat the studentsnottobeablegoHouston. Offi cer, said: “Obviously, itisdisappointingfor Dr JenniferStone, ManSat’s ChiefTechnical scientists. including astronauts,NASA engineersand interacting withspaceindustryprofessionals the latesttechnologyandindustrystandards, As withtheUSS,studentswillbeexposedto Manufacturing andTransportation. service inthefollowingcategories:Mining, will buildaproposalandwinbidfor the necessaryinfusionofcapital.Eachteam while expandingresourcesandfacilitating pollution andfurtherscientifi cdiscoveries, can commercializespacetoreduceEarth to anasteroid,investigatinghowhumanity The missionisforeachteamtoplanatrip conducted virtuallyviavideocalls. Space School(GSS),atwo-weekproject Island-bound astheyparticipateintheGlobal Instead, Sophie, BenjaminandJosephwillbe plan asimulatedcrewedmissiontoMars. than 20countriesaroundtheworldasthey each yearbringstogetherstudentsfrommore to plansstagethisyear’s gathering,which However, theCovid-19pandemic putpaid Dunne fromRamsey GrammarSchool. School inPeel andBenjaminLiJoseph by SophieBellfromQueenElizabethIIHigh Centre andUniversityofHouston-werewon (USS) -attheNASA JohnsonSpace to attendNASA’s UnitedSpaceSchool he annualManSatGroupscholarships equations. Naturally, itwasdisappointing of physics,e.g. orbitalmechanicsandlaunch of theprojectwhichinvolveapplication He said:“Iammostinterestedinthe areas energy oraerospace. with aviewtocareerin engineering atuniversity, planning tostudy at A-levelandis and furthermaths chemistry, physics, Benjamin isstudyingmaths, person nextyear.” opportunity toattendtheUSSin and scholarships,forthe providing thecompetition like tothankManSatfor space travel.Iwould the developmentof perspective on new, interesting think thatitisa project, asI aspect ofthe competitive the commercial/ looking forwardto asteroid mission,Iam She said:“Forthe – ManSatGroup’s SpaceSchoolscholarshipwinners2020 Sophie Bell,BenjaminLi(centre)andJosephDunne for moreinformationaboutthe of thecompany’s scholarships, www.unitedspaceschool.org www.mansat.org fordetails and details onManSatitself. Space Schooland www.mansat.com for Please visit experience relevant tomyfi eldofinterest.” around theworldandgainsomuch valuable chance toworkwithamazingpeople fromall hugely gratefultoManSatforgiving methe great opportunityforManxstudents, andIam to gonextyear. Thecompetitionisa and to have the opportunity and tohavetheopportunity

there is still a project, there isstillaproject, However, Iamgladthat from around the world. from aroundtheworld. meet all the people meet allthepeople full experience and full experienceand get to have the get tohavethe that I wouldn’t that Iwouldn’t knowing knowing young people.’ opportunities theycontinuetoprovide forour thank everyoneinvolvedwithManSat forthe behalf oftheDepartmentIwouldlike to year’s trip toHoustonismostkind,andon ManSat tooff erthemallplacesonnext will gainmuchfromit.Thedecisionby and I’msureSophie, BenjaminandJoseph this newvirtualchallengesoundsfantastic the USSthisyearwasunderstandable, but and Culture, said:‘Thedecisionnottohold Dr AlexAllinson,MinisterforEducation,Sport running thescholarships.” and KingWilliam’s Collegefortheirsupportin to theDESC,Island’s secondaryschools usual, mostimpressive. Ourthanksasalways competition. Thestandardofessayswas,as all studentswhotookthetimetoenter ‘The teamatManSatwouldlike tothank experience nextyear. being well,theywillbeabletoenjoythefull and JosephwouldhaveinHouston,butall to seewhatadventuresSophie, Benjamin year ManSatstartedtrading.We wereexcited started runningthecompetitionin2000, the Man studentstovisittheUSS41sincewe have broughtthetotalnumberofIsle Dr Stone said:‘Thisyear’s scholarswould for theirsupport. students thanked theirschoolsandteachers the ManSatjudgingpanel,andthree which areanonymisedbeforereaching involved writingthreespace-relatedessays, The competitiontowinthescholarships (DESC). Department ofEducation,SportandCulture year since2000, incooperationwiththe has awardedtheUSSscholarshipseach Manx satellitefi rmtheManSatGroup it inspiringmoreintheyearstocome.” pursue careersinscienceandIcanonlysee has alreadyinspiredmanyManxstudentsto us sponsorshipin2021–thecompetition It isextremelygenerousofManSattooff er virtual missionwillbeavaluableexperience. it wastherightdecisiontobemade. Still, the would notbegoingtoHoustonthisyear, but “Obviously, itwasdisappointingtohearwe landing ofthemission. forward tocontributingthetransitand physics andmathssoIamlooking of themissionwhicharemorerelatedto and habitation.Personally, Ienjoytheaspects control, missionobjectives,transit,landing aspects ofthemission.Thisincludedmission we gotsetassignmentsforthediff erent He said:“Priortothespaceschoolstarting ManSat scholarships. 2019 –thefi rsttimesiblingshavewon visited NASA fortheUnitedSpaceSchool in thefootstepsofhisbrother, Harry, who career asanAIresearcher. He isfollowing maths toAS levelandwantstopursuea computer scienceatA-levelandfurther Joseph isstudyingmaths,physics,and S Island duringFebruarytolaunchthecompetition. Young advocatesatthecompanyvisitedhigh schoolsonthe competition forsixthformstudentsinterestedinacareerlaw. initiative forthefourthtimethisyear, featuringanessay Simcocks AdvocatesranitsannualPartnership withSchools LAWYERS OFTHEFUTURE SIMCOCKS ENCOURAGES herself lastyear, beingawardedtheGeorge Johnson, whowonawritingcompetition the schoolsandmarked theessaysisEmily One oftheadvocateswhopresented at company whenappropriate. off eredaworkexperienceplacementatthe with his£500voucherprize, andhasbeen prison system.Finlohasbeenpresented who wroteaverysophisticatedessayonthe is FinloSmithfromRamsey GrammarSchool, we arepleasedtoannouncethatthewinner The essayshavebeenreadandmarked and Shouldadivorceapplicationbebased 2. TheIOMprisonplacessignifi cant 1. following questions: competition, respondingtooneofthe on blame? rehabilitation? Why? Should prisonsbeforpunishmentor emphasis onrehabilitationofoff enders. William’s Collegeenteredthewriting Castle Rushen,St Ninian’s andKing tudents fromQEII,Ramsey Grammar, Essay CompetitionWinner2020 advocates.” hope aboutthefuturegenerationofManx and ideasgeneratedgivesmegreat the currentcrisis.Thestandardofwriting response totheinitiativethisyear, despite “We weredelightedtoreceiveagood Chief Executive PhilGamescommented: you sometimeinthefuture.” essay, andwelookforwardtoworkingwith Congratulations toFinloonhisexcellent great dealofconsiderationandresearch. the students’ essays,whichalldisplayeda Schools initiative:“Ireallyenjoyedreading her involvementinthePartnership with Johnson Law Prize. Emilyspoke about great hope about the great hopeabout the future generation of future generation of writing gives me writing givesme Manx advocates The standard of The standardof | 45

SCHOOLS Exactly what it says on the tin – news snippets, forthcoming events and information from the business world. CLOSING THE DIGITAL GAP HOW TO DEVELOP TECH SKILLS By Dan Lewis, founder of www.WeStryve.com One of the biggest challenges faced by businesses today is a shortage of employees with tech skills. In the UK alone, research shows that 11.3 million people don’t have a complete range of basic digital skills while 4.3 million people have none.

products and industries be disrupted in recent years – for example, online streaming such as Netfl ix destroying the video rental sector once dominated by Blockbuster. Digital skills aren’t just about coding and building products; they’re fundamentally about thinking digitally, and considering how technology can improve the world we live in. The development of new products and technology This is where we get into the area of deep digital skills where engineers and developers sit – actually building solutions on the back of new ideas. Not everyone in society will need to be able to code, but everyone will need a deeper understanding of how technology is built, and what it’s capable of, so they can help to ensure the evolved products, services and businesses are satisfying, and in some cases, creating consumer demand. In order to close the digital skills gap and ensure staff are equipped for the future, businesses must help people to develop these skills. But where do you start? Firstly, be honest and transparent. Digitisation is no longer an optional thing; it’s happening. So, helping to raise awareness and get people to embrace the digital journey has to come fi rst. s the technology ecosystem rapidly expands and businesses Thereafter, it comes down to education. Employers need to start investing invest in new innovations to increase competitive advantage, both time and money into digital education and skill development, not only Ait’s crucial that eff orts are made to close this gap and train the to improve their workforce’s skills but as a means to survive. workforce of the future. But how can that be done? And I don’t mean that to be taken lightly. It’s been proven multiple times Tech skills are paramount already that those businesses that fail to innovate and to digitise are the ones that, ultimately, fail. So, digital skills development at all levels should The recent coronavirus pandemic has defi nitely highlighted the importance be an absolute priority. of digital skills. With millions of people working remotely during lockdown, cloud computing, video conferencing, online collaboration tools and many Ultimately, while we accelerate further and faster into a fully digital world, other technologies have been crucial. I think it’s important that we don’t underestimate the cultural challenges at play here. The very world we’ve been accustomed to is changing and But as we come out of lockdown and offi ces reopen, that’s not to say changing fast. digital skills will no longer be in demand. In fact, with nearly half of employees demanding more fl exible working when they return to the It’s important that people and businesses get their heads around that, and workplace, digital skills will continue to be important. then start to consider how they, themselves, are going to navigate that transition. And we’re always better when we navigate things together, With the rise of remote working and introduction of new technologies in the rather than try to plot a course alone. workplace, I believe there are three clear areas of skill development needed. The ability to learn how to use new technology, such as new systems, and adapt our ways of working to them. This could be a new bit of software that replaces an Excel spreadsheet, or an RFID scanner that replaces manual Businesses that fail to innovate checks. Technology is forging its way into our daily working lives, and we shouldn’t underestimate the cultural implications of this in organisations. and to digitise are the ones that, The ability to innovate and consider where technology could improve or replace existing products, services and processes. We’ve seen multiple ultimately, fail.

46 | ROSSBOROUGH INSURANCE (IOM) Celebrates 15 Years In Business Local insurance broker Rossborough Insurance (IOM) has marked a major milestone by celebrating 15 years of serving the local community.

Some of the team at Rossborough celebrate 15 years in business on the Isle of Man.

Rossborough would not be where it is today without its people and I would like to say a heartfelt thanks to every single member of the team for their hard work and commitment. Ann Collins, Managing Director, Rossborough Insurance (IOM)

he Isle of Man branch was opened Its community commitment ranges from and continue to invest in our special Island. in 2005 and has since gone from sports sponsorships – including chief We’re looking forward to the next 15 years of T strength-to-strength, starting with a sponsor of the Manx Hockey Leagues and delivering Rossborough excellence.’ team of just four to the thriving operation it Peel AFC junior teams – to working with Rossborough prides itself on its team of is today, employing a team of 22 staff in the and supporting a range of local charities. dedicated staff . Louise Quilliam, Professional heart of Douglas. The company also recently teamed up Risks Broker, has been with the Douglas- In 2018, the fi rm became the only company with the Isle of Man Constabulary to based company from the outset. Louise in the Isle of Man to achieve the prestigious sponsor accredited child car seat training added: ‘Rossborough truly is a special place Chartered Insurance Broker status, for Community Road Safety Offi cers – to work and I am excited to celebrate this awarded by the Chartered Insurance an important local initiative focused on milestone with the team. I have been here Institute (CII). This highly celebrated improving child seat safety in the Isle of Man. from day one and watched it go from a accolade was awarded in recognition of the Ann Collins, Managing Director of small offi ce to a fl ourishing enterprise, and company’s professionalism and high levels Rossborough Insurance (IOM), commented: I’m excited to see what the future holds for of customer service across its commercial, ‘We are thrilled to reach this special Rossborough. private clients, personal and healthcare milestone and celebrate 15 years in business With offi ces in the Isle of Man, Jersey and off erings. on the Isle of Man. Rossborough would Guernsey, Rossborough boasts a dedicated In addition to the wide range of professional not be where it is today without its people team of specialists who provide insurance achievements and successes it has earned and I would like to say a heartfelt thanks to for businesses and private clients across over past 15 years in the Isle of Man, every single member of the team for their all sectors, as well as off ering motor, home, Rossborough has also proved itself as a hard work and commitment, enabling us to travel, marine, private medical and dental proud supporter of the local community. provide a fi rst-class service to our clients insurance.

| 47 Three quarters of Brits are scared of returning to restaurants due to the risk of Covid-19 infection

round 73 per cent of consumers have Interestingly, the survey, which polled 1,000 states are being forced to close again, shortly admitted they are worried about the consumers from the UK, also found that 55 per after reopening without good social distancing Arisk of Covid-19 infection at sit down cent would be more likely to visit a restaurant, tools in place. In these trying times, it’s essential restaurants as the hospitality industry reopens if it can guarantee a contactless customer that the hospitality industry equips itself with following lockdown in the UK, according experience: using technology, such as a touchless technology to help manage social to independent research commissioned by smartphone app, to aid the process of ordering distancing at all stages of the customer journey. BookingTek, the hospitality software provider and paying for food, without the need for face to “This will not only ensure staff and guests and creator of end-to-end contactless face contact or to touch printed menus. remain safe, but it will also ease the minds of customer journey app for restaurants, A signifi cant 57 per cent admitted that they would prospective customers who are, quite rightly, still TableRes. This is despite Chancellor Rishi concerned about the risk of infection at close Sunak’s call for the public to eat out to view a restaurant more favourably if contactless quarters in enclosed spaces. kickstart the economy. technology was utilised and a further 50 per cent of consumers also agreed that they are more “TableRes is a tried and tested application that is As a result, nearly half (43 per cent) of those likely to order food for pickup from a restaurant if now available free of charge to all medium and surveyed admitted that they will visit restaurants these contactless features were in use. large chains worldwide.” a lot less frequently, and 17 per cent said that they will not visit restaurants at all. A whopping Three quarters (76 per cent) even 81 per cent cited handling things that have agreed that the government should help been touched by many people, such as paper restaurants introduce contactless customer menus, as one of their core concerns if visiting technology. Matthew Stubbs, CEO & Founder of It's essential that the a restaurant. BookingTek told B365: hospitality industry As an alternative, over one third (36 per cent) “Both customer and staff safety should always said they will switch to takeaways or order food remain the top priority in restaurants, takeaways, equips itself with for pickup from restaurants to help avoid the risk bars and other hospitality venues. We have seen of infection. this week how restaurants and bars in many US touchless technology

48 | British Citizens Get your in Order

t is estimated that 800,000 to 1 million homes in Spain are owned by IBritish citizens with 381,000 of those currently residing in Spain. Since the 1960’s, British citizens have ﬂ ocked to Spain to either migrate or have a holiday home, with many buying in well-known resort towns and areas such as the Costa del Sol, Costa Blanca and The Balearic and Canary Islands. Many of those who buy Spanish properties are retired empty-nesters so it imperative that they plan how they would wish for their estate to be distributed in the future, both in the UK and in Spain. With travel restrictions and countries on lockdown, what impact has Covid-19 had on distributing an estate when the deceased had assets in both the UK and Spain? written and registered by foreign individuals and their lifetime, as opposed to making their The pandemic originated by the rapid spread of in particular from owners of Spanish property Spanish Wills and appointing the children as Three quarters of Brits are scared of the Covid-19 has turned the entire world upside living in the UK has doubled the work load in our benefi ciaries upon their deaths. Taking correct down, aff ecting our daily lives and businesses in Wills and Estate Administration Department.” advice ensures you make the right decisions for ways beyond imaginable. This statement holds “We always recommend to our UK clients you and your benefi ciaries.” true for Spain in particular: for the past three that they have a Spanish Will in place. It is no “We are also assisting benefi ciaries who have returning to restaurants due to the risk of months, Spain has been held in strict lockdown diff erent to the UK where it is important to have a inherited property in Spain and given the recent following a state of emergency imposed by the Will and have it registered with The National Will pandemic are reluctance to travel to Spain Spanish Government. During this period the Register. A Spanish Will and having it registered but need to deal with a buyer for the inherited Covid-19 infection legislative arm of the State has been kept busy in Spain at the Spanish Last Wills Registry is property. In such cases the sale can still be enacting a wide array of legal measures in order equally important. However, some do not get handled, but our advice is that it is imperative to to mitigate the eff ects on the economy and the around to writing a Spanish Will because buying deal with an English-speaking Spanish solicitor in round 73 per cent of consumers have Interestingly, the survey, which polled 1,000 states are being forced to close again, shortly lives of Spanish citizens. a property in Spain is a happy occasion and Spain whilst you remain in the UK and one that admitted they are worried about the consumers from the UK, also found that 55 per after reopening without good social distancing the start of a new life chapter for most. Writing understands cross-border laws and implications. Arisk of Covid-19 infection at sit down cent would be more likely to visit a restaurant, tools in place. In these trying times, it’s essential Requests for help a Will is the reverse, it documents an end of life This way you can be sure of a smooth sale restaurants as the hospitality industry reopens if it can guarantee a contactless customer that the hospitality industry equips itself with without issues. Communication and experience Roser Coll Anglada is an international law chapter, so I can empathise with those who buy following lockdown in the UK, according really are key - language barriers leading to experience: using technology, such as a touchless technology to help manage social specialist and Partner of Probate in Spain by a property and choose not to think about the to independent research commissioned by misunderstandings and misinterpretation of the smartphone app, to aid the process of ordering distancing at all stages of the customer journey. Temis & Co who are based in Barcelona, she end! The recent pandemic, which may not have BookingTek, the hospitality software provider an end for many months to come, has forced law, is a recipe for potential fi nancial disaster and and paying for food, without the need for face to “This will not only ensure staff and guests comments: “Under such challenging times and creator of end-to-end contactless those who do not have a Will but own a property distress.” face contact or to touch printed menus. remain safe, but it will also ease the minds of and circumstances, our law fi rm has seen an customer journey app for restaurants, increase in requests for help from international in Spain, to consider the benefi ts of writing one.” “In short, if you own assets in Spain then take A signifi cant 57 per cent admitted that they would prospective customers who are, quite rightly, still TableRes. This is despite Chancellor Rishi clients suff ering a bereavement, where assets “Simply put, having a Spanish Will saves legal advice from an international legal and view a restaurant more favourably if contactless concerned about the risk of infection at close Sunak’s call for the public to eat out to such as a second home in Spain was owned money, time and worries for the benefi ciaries fi nancial specialist on how best to treat them in technology was utilised and a further 50 per cent quarters in enclosed spaces. kickstart the economy. by the deceased. We have been assisting and executors of an estate in Spain, making your Will. Then write a Spanish Will and register of consumers also agreed that they are more “TableRes is a tried and tested application that is it far simpler to expedite the execution of it and also write or update your UK Will and As a result, nearly half (43 per cent) of those clients which form part of that generation of likely to order food for pickup from a restaurant if now available free of charge to all medium and thousands of British nationals who bought the inheritance and avoid any unpleasant register it to refl ect the advice you have been surveyed admitted that they will visit restaurants these contactless features were in use. large chains worldwide.” property in Spain in the 1960s and onwards. surprises. Suff ering a bereavement is traumatic given. If you are the benefi ciary or executor of a lot less frequently, and 17 per cent said that They are usually in need of legal assistance enough, without having to deal with uncertainty a property in Spain following a death, use an they will not visit restaurants at all. A whopping Three quarters (76 per cent) even when it comes to planning their estate following surrounding the estate in the absences of a Will international lawyer that is fl uent in English and 81 per cent cited handling things that have agreed that the government should help a property purchase in Spain. However, we for assets in a foreign country.” can demonstrate experience in second home been touched by many people, such as paper restaurants introduce contactless customer are currently supporting many more executors “Managing your assets in Spain correctly is vital if sales for UK citizens. Use the countries respective menus, as one of their core concerns if visiting technology. Matthew Stubbs, CEO & Founder of It's essential that the and benefi ciaries who fi nd themselves in the you are to protect the money you have invested Will register in Spain which is the Spanish Last a restaurant. BookingTek told B365: hospitality industry unfortunate position of dealing with an estate in in your Spanish home. By way of example, a Wills Registry and in the UK The National Will As an alternative, over one third (36 per cent) “Both customer and staff safety should always Spain following the death of a loved one.” client had bought a property in Marbella fi fteen Register operated by Certainty to check if a said they will switch to takeaways or order food remain the top priority in restaurants, takeaways, equips itself with Roser explains that the pandemic is aff ecting years ago, who wanted to understand the Will has been registered by the deceased that for pickup from restaurants to help avoid the risk bars and other hospitality venues. We have seen Wills and Estate Administration in Spain: “Due legal and the inheritance tax implications of provides you with the relevant information you require to distribute the estate correctly.” of infection. this week how restaurants and bars in many US touchless technology to Covid-19, the number of Spanish Wills being transferring their share to their children during

| 49 ROBUST MEASURES I N PLACE AS QUILTER INTERNATIONAL ADAPTS TO THE ‘NEW NORMAL’ A range of robust, but practical measures, have been put in place to ensure the health and safety of Quilter International employees.

ost of the company’s 400+ workers here on the Island have been working Mfrom home during the lockdown, and now that social distancing restrictions have been lifted the fi rm’s employees have returned to HQ at King Edward Bay House in Onchan. Peter Kenny, CEO, Quilter International, praised colleagues for their excellent response during the lockdown. He told B365: “It has been inspiring to see how everyone has worked together and gone the extra mile to support one another and maintain the service we provide to clients and advisers. Of course, even though social distancing restrictions have been lifted there is no room for complacency, so the health, safety, and wellbeing of our employees continues to be our top priority. We have put in place a range of measures to ensure we’re ‘staying responsible’ during this phase in which we must all adapt to a new normal.” Quilter International Receptionist Sonia Turner at the company’s HQ. Enhanced cleaning and hygiene procedures have been introduced with sanitizing wipes and programme. Quilter International is continuing As with many businesses, working from home hand gels readily available to all employees. to closely monitor Isle of Man Government during the lockdown has prompted renewed Strict procedures remain in place for anyone announcements and, in the unfortunate event of interest in the opportunities which fl exible who thinks they have Covid-19 symptoms, a ‘second spike’ in Covid-19 cases, the business working off ers for employees and the company as well as visitors to the premises, to ensure is ready to bring in social distancing and other as a whole. Across the Quilter plc group, the traceability. Staff also have access to information related measures if it is necessary to comply company is in the process of engaging with and support covering all aspects of health with Government guidelines and industry best employees using focus groups to gather views and wellbeing through the company’s Thrive practice. about what the future of work could look like.

GORDON ELLIOTT TIPS IOM-BASED VIRTUAL LIVE RACING TO BE A BIG WINNER Grand National, Gold Cup and Royal Ascot winning trainer joins virtual racing product start-up as shareholder

eading racehorse trainer Gordon Elliott believes a new virtual racing revenue stream for racetracks and wagering operators. The software Lstart-up based in the Isle of Man will be a big winner for tracks, and the helps promote and build future demand in our beautiful sport. Vincent future of the sport. has created a little bit of racing history here and I am happy to back a winner with Vincent and Virtual Live Racing.” The County Meath-based multiple classics winner has become a shareholder in Virtual Software Limited, the Isle of Man-based fi rm Vincent Caldwell added: “It’s fantastic to have Gordon on board. He behind Virtual Live Racing, whose chairman is online betting pioneer and shares VLR’s vision which sees virtual racing as an innovation that has a racehorse owner Vincent Caldwell. vital role to play in the future success of the racing industry. The respect and status that Gordon has in the sport, combined with his business Gordon Elliott told B365: “Vincent Caldwell and I have enjoyed winners knowledge, is a major boost in our drive to support a future proof, for the last 4 seasons. Vincent is passionate about Irish racing and works sustainable, business model for the racing industry in Ireland, UK, and tirelessly like we all do in this industry without complaint as we are lucky internationally.” enough to work in an industry we love. His focus of wanting to excel and win, just like myself, is what sparked my interest in his new venture @gelliott_racing Virtual Live Racing (VLR). Vincent’s goal is to give back to racing so that it will fl ourish for the next generation. By creating virtual replicas of real gordonelliottracing.com racetracks Virtual Live Racing’s software, creates a much needed new virtualliveracing.com

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