Global Elite Moments with... Jonathan Speck, Mourant, Jersey
Tell us about your background. Have you always worked for Mourant? I started working for Mourant in 1989. So I must have been 12. …
By Amy Glover / July 04, 2019
Tell us about your background. Have you always worked for Mourant?
I started working for Mourant in 1989. So I must have been 12. I was recruited by Alan Binnington and I have tried, but failed, to emulate him ever since.
As a partner at Mourant Jersey, what are you looking to achieve in the next 3 years?
To continue to expand our international private client advisory practice. That's the one thing that I am most excited by.
And what else are you most excited about?
I am most excited about becoming part of The Global Elite, because that's obviously going to help me in my aspirations.
Oh, and meeting up with my friends who do the same work.
Where is the best place to eat in Jersey?
Oh, the best place to eat (depending on mood) for fine dining has to be The Atlantic Hotel, for its sophisticated setting and the Michelin starred food. For relaxed dining and a great atmosphere and location, Green Island. At Green Island, it's all down to the owner, Alan, who is a real star and makes it all great fun. The food is always sensational; the freshest fish.
Tell us about Mourant's Private Client Practice?
Well we call it ITPC, International Trust and Private Client. We started it with that name almost 10 years ago and it was designed to help us advise in relation to every aspect of Private Client work. Whether it's setting up structures, advising on structures, litigating structures, closing structures or even running structures as we can now do. We do it joined up across all of our jurisdictions and we do it together as a team.
What makes Mourant different to other advisory firms offshore, particularly in the Channel Islands?
We are genuinely one firm. We are closely joined up and collaborate with our friends and colleagues in other offices and we think that it works seamlessly.
If you could choose any wine in the world, what would it be and why?
If you're paying, Chateau Petrus.
What is the biggest challenge to the private client sphere in 2019?
I think the biggest challenge is the geopolitical situation. There is so much uncertainty; so many political moves to try and shut down international finance centres. But we are confident, because we have always been entrepreneurial and look to find opportunities where other people do not. So we see this as an opportunity to grow and really refine the services that we offer.
How do you keep up to date with the mounting regulatory and tax developments globally?
I can't think of a better way to keep up to date with what is going on in the industry other than the International Private Client Forum at the Villa d'Este. Not just through what is said formally on the platform, but also in conversation with my colleagues, ideally, with a dry martini in hand.
If you were alone on a desert island, what is one item you could not live without and why?
A corkscrew. Failing which, a cocktail shaker. Because I shall be thirsty.
How do you find recommended advisors in jurisdictions that are unknown to you?
Word of mouth from trusted advisors, ideally those who are already in the Global Elite.
Have you seen an increase in protection planning from volatile jurisdictions?
I think so, yes, particularly from the Middle East. The Ritz Carlton incident was a real wake up call for some people. Whether I would call them volatile jurisdictions, I don't know, but people are certainly wanting to have safe harbours like Jersey.
What is the biggest buzz word right now in the private client sector?
Well if we avoid the “B” word, which I am anxious to avoid, it's that geopolitical word again. Geopolitical issues, populism and so on. You see it in the US, you see it in Italy, you see it in the UK, in Germany and throughout Europe as well.
If you had to give your clients advice in one sentence, what would it be?
Keep a level head.
You infamously have recently returned from sabbatical. What was the best country you travelled to and why?
Oh gosh, that is really hard to answer because they are all so different. I like New Zealand for the dramatic scenery; the great people, they're so charming, relaxed and friendly and the amazing food and wine.
And we all want to know, did you travel with a backpack and stay in hostels?
Naturally.