Top Ten Tax & Trust Lawyers
Ashley Crossley, Baker McKenzie’s head of wealth management, excitedly tells Spear’s of a ‘colossal’ amount of business coming in from the Middle East, making up almost 75 per cent of his practice this year. He cites the increase of private wealth in the Gulf and London’s position as the world’s financial crown as reasons for this: ‘Local businesses there want to see and expand their presence in London.’
Crossley says the influx suggests that ‘Brexit is an opportunity rather than a problem’, adding: ‘Soon the investors from Saudi Arabia and the Gulf region will not only look to where the investment opportunities are, but will also look for the best pool of experts in one place – and certainly London meets that.’
The dual-qualified solicitor and barrister leads Baker McKenzie’s European and Middle East wealth management practice groups and its Russia/CIS practice, as well as coordinating the firm’s global banking relationships.
Crossley recalls an era, almost a decade ago, when many UK private client firms’ plans to expand into Singapore and Hong Kong fell flat, due to differences in the governance of trusts. The tide has turned: ‘After Brexit, I can’t see why London, Singapore and Hong Kong will not strongly develop together.’