Walk in my Shoes Web Series - Episode 23
Join our CEO, John Pepin, as he chats with our Board member George King, Partner, MASECO Private Wealth; our Board member Richard Cassell, Partner, Withers LLP; Keith MacDonald, Partner, EY; our members Simon Weil, Partner, BDB Pitmans LLP; Angela Kail, Director of Consulting, NPC; about the impact of COVID-19 and of issues related Brexit and the implications for the philanthropy and impact investing sectors.
Philanthropists, social and impact investors are responding to the current crisis created by COVID-19. However, there are issues on the immediate horizon related to the corona virus spike. Added to this is the uncertainty of Brexit and its implications for charities and social enterprises and the philanthropists and social impact investors who are supporting them.
The immediate crisis has negatively impacted a variety of communities adding to racial and gender inequalities, those on low income, and people dealing with complex societal issues.
This session will address the impact of COVID-19 on inequality and will speculate on the possible impact on philanthropic giving and social impact investment as a result of Brexit.
Many donors to UK charities hold investments in the EU, but what will happen if after Brexit tax incentives for giving in the UK change? Will the government review its current approach to tax reliefs related to charities and to giving and social investment? Will government adopt innovations such as the charitable remainder gift scheme?
What could be the effect on high-value donors in the UK? Will they decide to invest their money in a different way? How should advisors support them on their donor journey in a time of uncertainty, like the one we are living today with COVID-19 and the potential results of Brexit? What is the impact of the Covid-19 crisis and Brexit in cross border donations?
Speakers’ Bios
George King
George is a Partner at MASECO Private Wealth and a senior investment professional with 25 years of financial markets experience who advises high net worth families on their cross border financial needs.
For the first decade of his career, George was doing primary investment research as a Financial Analyst (CFA), spending most of that time as an Institutional Investor-ranked analyst at Credit Suisse First Boston in New York. Though responsible for a range of consumer industries, his notable coverage was the dynamic TMT (telecom, media and technology) sector. The second half of his career has been focused on working with high net worth investor clients, principally with AllianceBernstein (AB) and Royal Bank of Canada (RBC). Working in New York, Miami and London, George has experience advising a very broad range of investors around the world on investment strategy and portfolio construction, across all major asset classes and multiple currency regimes.
George has played a key role in helping to build wealth management businesses for both AB and RBC, across Florida and in London. He is a frequent speaker at industry conferences, writes for and is quoted in a range of publications, and makes regular appearances on TV and radio programs. Passionate about the critical importance of the intersection of wealth planning and investment management, he has earned a Certificate in Financial Services – Trusts and Estate Planning from the Society of Trust & Estate Practitioners (STEP). As an American expat in the UK, George has lived through the issues on which he now advises US clients residing in the UK and elsewhere outside the US.
Richard Cassell
Richard is of counsel in the private client and tax team. He advises on US and international tax and trust and estate planning, with clients based in Europe and the US. He specialises in US tax strategies for individuals, international trusts and closely held business structures. Richard devotes a significant part of his practice to cross-border philanthropy and pioneered the use of dual qualified charitable structures.
Richard was educated at University College London and qualified as a solicitor before moving to the US and attending the University of Pennsylvania Law School and has practiced in Washington DC and London. He is admitted as a solicitor in England, as a member of The District of Columbia and US Tax Court Bars.
Simon Weil
Simon specialises in tax planning, trusts, philanthropy, charities and the resolution of potentially contentious issues arising out of wills, trusts and co-ownership of property for private clients and charities. Simon has lectured on philanthropy, governance, charity trusteeship and charities in the context of tax-planning. He is also actively involved in the promotion of living legacies in connection with Philanthropy Impact.
He has acted for families with heritage assets and helped them to plan for a sustainable future. Simon has advised trustees with holdings in overseas companies in the context of major reorganisations, entailing dealings with firms in multiple jurisdictions.
He includes as part of the philanthropy offering creating musical instrument syndicates.
Angela Kail
Angela leads the Research and Consulting team at NPC, driving the team’s focus on impact and managing its operations. The team supports and partners with organisations to help them articulate their purpose, manage to outcomes, understand their impact and learn.
Over the years at NPC, Angela has worked on a wide variety of consulting projects with both charities and funders. She has provided strategy advice to several large funders, including the Lloyds Bank Foundation for England and Wales and The RS MacDonald Trust. At the moment, Angela leads NPC’s pooled fund to help EU Citizens achieve Settled Status in the UK—the Transition Advice Fund. She has recently authored a report on what works in engaging young people in the arts
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