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08.04.25 – CBO Projects, the award-winning Channel Islands consultancy, is delighted to announce the addition of a Senior Data Solutions Consultant in Jersey, and a Consultant and Junior Consultant in Guernsey.

Anya Van Heerden is the newest member of CBO’s growing team in Jersey and brings an impressive skillset to her role as Senior Data Solutions Consultant. She has a Master’s degree in Applied Mathematics and a wealth of experience in data analytics, risk management and business intelligence.

Throughout Anya’s career, she has excelled in facilitating cross-functional collaboration and implementing process improvements that enhance data governance, risk reporting and platform development, as well as solving complex data challenges. She is looking forward to utilising her expertise to design and implement impactful data solutions that help her clients to leverage their data.

The CBO team in Guernsey has recently gained a new Consultant, Summer Rodrigues Rito, who has a diverse background in project and change management, and has led key initiatives in both the public and private sectors. Her experience spans across multiple industries and she has successfully managed projects in health and social care, consultancy and technology.

Summer brings a practical and results-driven approach to projects and ensures her clients receive clear, actionable solutions tailored to their needs. When she’s not consulting on projects, Summer teaches yoga and will soon be hosting her first retreat in Madeira.

Rachel Brereton has also joined the Guernsey team as a Junior Consultant and begun CBO’s two-year personal development pathway, which will provide professional qualifications, hands-on experience and mentoring.

With a positive attitude, eagerness to learn and an aptitude for problem-solving, Rachel is looking forward to expanding her skillset and building on her previous project management experience, to make a meaningful contribution to CBO and her clients.

CBO has clients across Guernsey, Jersey, the UK, and beyond. They specialise in change management, project services, assurance, and business analysis across a wide range of sectors, including finance, utilities, government, legal, insurance, and retail.

Founder and Chief Executive Officer of CBO Projects, Philip Smith, said: “We’re really pleased to welcome Anya, Summer and Rachel to the team. Each of them brings something different to the table – fresh perspectives, valuable experience, and the kind of practical skills our clients rely on. At CBO, we’re focused on doing great work with great people. Growing our team in Jersey and Guernsey with talent like this helps us keep delivering on that.”

Find out more about CBO Projects at www.cboprojects.com.

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07.04.25 – Longueville Manor Hotel & Restaurant is delighted to announce that it has achieved a British Airways Holidays Customer Excellence Award in recognition of its consistently high guest reviews from customers of British Airways in 2024.

British Airways Holidays, one of the UK’s leading tour operators, prides itself on taking its customers’ holidays seriously. As such, it uses customer feedback to carefully identify top-rated hotels as part of its commitment to provide high-quality holidays. Their customers are asked to rate their hotel based on location, service, cleanliness and sleep quality, as well as provide an overall score out of five. In 2024, British Airways Holidays gathered 72,408 independent reviews from their customers and have handed out Customer Service Excellence Awards to the top eight percent of their hotels across the globe, all of which are rated between four and a half and five stars.

Andrew Flintham, Managing Director at British Airways Holidays, said: “We are delighted to recognise and celebrate outstanding hotels that share our commitment to creating unforgettable experiences for our guests. This Customer Excellence Award showcases high quality hotels that we are proud to work with, and helps our customers make the right choice for them, so they can fully embrace their time away and take their holidays seriously.”

Last year, Longueville Manor received an impressive overall score of five out of five from British Airways Holidays customers. They particularly praised the luxury Jersey hotel for its outstanding services, facilities and customer experiences, as well as ensuring that each guest enjoys a memorable stay.

Longueville Manor’s General Manager, Daniela Corasaniti, expressed her joy at receiving the Customer Excellence Award. She said: “Our team is dedicated to delivering the best possible experience for our guests, so it really does mean a lot to all of us to receive this validation. We’re grateful to British Airways Holidays for presenting us with this amazing accolade and, of course, our valued guests who have taken the time to give us such positive feedback. Their satisfaction has always, and will continue to be, our top priority at Longueville Manor.”

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28.03.25 – Longueville Manor encouraged diners to support the Jersey Association of Youth and Friendship (JAYF), their chosen charity for 2024.

Longueville Manor is renowned for luxury and indulgence but has always demonstrated an unwavering commitment to charitable giving and sustainability within the local community. Last year marked Longueville Manor’s 75^th Anniversary, so it was important to the hotel’s owners, Malcolm and Patricia Lewis, that they chose a charity that was close to their hearts.

JAYF is an independent local charity that was founded in 1961 with the purpose of providing safe, secure accommodation for young people experiencing homelessness. Longueville Manor has a strong connection with JAYF which dates back to its early years when Neal and Barbara Lewis, Malcom’s parents, began supporting the charity. They were hugely involved in the purchase and refurbishment of JAYF’s first hostel and helped with fundraising for the purchase and running of the second. The whole Lewis family pitched in to help with jumble sales and other fundraising events during the 1970s and, in recent years, they have supported the JAYF Open Garden Scheme.

Last year, Longueville Manor used its exceptional cuisine to support its chosen charity. Executive Head Chef, Andrew Baird is well-known for his culinary talents, attracting foodies across the Channel Islands and further afield. The hotel encouraged diners to add £1 to their bill as a charitable donation and included a QR code on menus to provide a link to JAYF’s website, should they wish to increase their donation.

Longueville Manor’s ‘Food for Thought’ initiative raised a total of £4,400 for JAYF in 2024 and Malcolm and Patricia expressed their gratitude to their generous guests. Malcolm said: “We want to thank everyone who has donated and helped us to raise awareness and funds for our chosen charity, whose work is vital for the protection and well-being of young people across the island.”

Malcolm and Patricia presented a cheque for the fundraising total to JAYF’s CEO, Deputy Hilary Jeune, on Tuesday 25^th March. Following the presentation, she said: “We are incredibly grateful to Longueville Manor for choosing JAYF as their charity partner for 2024. Their generous support will directly help provide safe housing and vital support for young people facing homelessness in Jersey. Partnerships like this not only provide crucial financial support but also raise awareness of youth homelessness and the urgent need for action.”

To find out more about Longueville Manor visit: www.longuevillemanor.com

To find out more about JAYF visit: www.jayf.org.je

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11.02.25 – Longueville Manor Hotel & Restaurant is delighted to introduce their new General Manager, Daniela Corasaniti.

Daniela is a familiar face to guests of the hotel as she joined the Longueville Manor family 15 years ago as a receptionist. Inspired by the passion and dedication of her colleagues, she embraced opportunities to expand her skills within different areas of the business, including marketing and sales.

From the beginning of her time at Longueville Manor, Daniela knew she was part of something special and credits the team as being the secret of the hotel’s success. She said: “In hospitality, it’s common to move around a lot and not stay in the same hotel for too long but that’s not the case here. Even after 15 years, I am still relatively new compared to some of the team who have been with the hotel for 30 or 40 years. We get to know the guests and we’re always excited to catch-up with them when they return.”

In her new role as General Manager, Daniela will be ensuring the smooth operations of the luxury hotel and maintaining the high standards of Longueville Manor and the Relais & Châteaux hotel group. This new level of responsibility doesn’t faze Daniela, and she is optimistic about overcoming new challenges in 2025. She explained: “We will always uphold Longueville Manor’s traditional values but it’s also crucial that we grow and evolve, particularly during this challenging time for the hospitality industry.”

Malcolm Lewis, owner of Longueville Manor Hotel & Restaurant, is confident that Daniela can build on the accomplishments of the hotel’s 75^th Anniversary celebrations which saw them achieve three prestigious accolades. He said: “We had an incredible year last year but it’s important not to become complacent, and Daniela is as passionate as I am about the continued success of Longueville Manor.”

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Jersey, 6 February 2025 – UBS is pleased to announce its partnership with Beresford Street Kitchen (BSK), making a significant step towards fostering a diverse and inclusive workforce in Jersey. This collaboration underscores UBS’s commitment to supporting local communities and driving positive change.

Tobias Wehrli, CEO and Country Head at UBS Jersey, said: “We’re looking forward to working closely with BSK to help them achieve their mission of providing quality education, training, and employment opportunities for individuals with learning difficulties and autism. Our shared vision for inclusivity makes this partnership a perfect fit.”

Beresford Street Kitchen’s CEO, Gabby Ellmers, shared her excitement about the collaboration with UBS. She said: “We’re so grateful to UBS for choosing us as their charity partner and we’re excited about the prospect of enhancing and expanding our BSK Academy with their support. It’s been a challenging time for all charities – we’re facing uncertain times due to increased costs and reduced funding. However, we’re optimistic that with the generosity of the public and the support of corporate partnerships, we can continue to develop our valuable programmes that allow people with learning disabilities and/or autistic people to reach their independence and employability goals.”

To celebrate the launch of this partnership, BSK served drinks and canapés at the Jersey Bankers Association’s JBA 2.0 networking event, hosted by UBS on 28 January. This event provided an opportunity for young talent in the finance sector to learn from industry experts, share insights, and discuss the future of banking in Jersey. Both UBS and Beresford Street Kitchen look forward to collaborating on more events and employee volunteering initiatives throughout the year.

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Disclaimer

UBS AG, Jersey Branch is authorized and regulated by the Jersey Financial Services Commission for the conduct of banking, funds and investment business.

Hettich celebrates 125 years with new flagship store

 01.02.25 – Since 1900, the family run jewellery business has proudly occupied 1 King Street and now the Hettich name is embellished on another historic building in the heart of St. Helier.

Facing the current site, the new flagship store at 2-4 King Street has facilitated the restoration of the landmark building that has laid empty since the closure of Burton in 2020. Hettich has honoured the building’s history with a stunning and luxurious new interior and an Art Deco style across its showroom to reflect the original 1930s architecture.

The opening of the new premises on 1^st February marks the start of an expansion programme and a new chapter for the Hettich family business. Managing Director, Jeffrey Chinn, is excited about the next big step for the jewellers and what their new store will offer. He explained: “Our new building is going to deliver a level of customer service excellence that has never been seen in Jersey. The ground floor will be dedicated to Patek Philippe and Rolex, which will have its own VIP area, complete with service centre and bar. The first floor will have a beautiful jewellery showroom featuring some exciting new brands.”

The move to a larger retail space does not mean that Hettich will vacate their premises at 1 King Street, which has housed the family business for 125 years. Nick Chinn, Director and brother of Jeffrey, shared what prompted the change. He said “We love our existing building, but we have outgrown it and it simply does not have enough space. However, it would be impossible to say goodbye to 1 King Street as it has been home to four generations of our family. Going forward we will continue to operate there with a gentle refit coming later.”

Recent years have seen the closure of many high street shops which has resulted in a number of empty buildings. Hettich’s presence in St. Helier is a key part of the town’s history so the Chinn family are passionate about investing in the high street and enhancing Jersey’s retail offering. Jeffrey said: “We are confident in the future of St. Helier as a vibrant destination and Jersey as a beautiful island. Hettich is particularly honoured to have such a special place in the retail industry here. We can’t wait to welcome everyone to our new store – we’re sure the community will find it quite spectacular.”

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08.01.2025 – Leading Channel Islands project management and business consultancy, CBO Projects, is delighted to announce that Senior Consultant, Cheney White, has become the third team member to achieve Chartered Project Professional (ChPP) status with the Association for Project Management (APM).

The APM is the only chartered membership organisation dedicated to project professionals, and its coveted Chartered Status is awarded to individuals who have demonstrated an exceptional level of technical knowledge, professional practice and ethical behaviour.

Cheney shared her joy at receiving this accolade: “It’s feels fantastic to have your work validated and recognised by your peers. I’m so grateful to the APM and to CBO for all the support and encouragement they have given me.”

She has a wealth of experience leading a wide variety of projects across the globe and since joining CBO Projects in 2024 has been project managing major transformation initiatives at a Channel Islands based utilities firm and a national insurance company.

Dom Ash, CBO Director, highlighted Cheney’s dedication and impact, stating: “Cheney has made a significant difference to both CBO and her clients. Her ability to tackle challenges head-on and deliver meaningful results makes her an essential part of the team. We’re delighted for Cheney and her well-deserved new recognition, and we’re so proud to now have three Chartered Project Professionals at CBO.”

The APM has also awarded Chartered Status to CBO Directors Alastair Bisson and Ed Mason-Smith, who has continued to collect accolades from the organisation. Ed won the Chartered Project Professional of the Year Award in 2023 and last year received the prestigious APM Fellowship for his significant contribution to the project profession.

CBO is passionate about investing in the personal and professional growth of the team and believes it is fundamental to their success. Dom Ash explained: “Supporting our team to achieve Chartered Status demonstrates our commitment to these values and gives our clients confidence that team members will deliver change using the highest standards of project management practice.”

About CBO Projects

CBO has clients across Guernsey, Jersey, the UK, and beyond. They specialise in change management, project services, risk and regulatory services, and business analysis across a wide range of sectors, including Finance, Utilities, Government, Legal, Insurance, and Retail.

You can find out more about CBO Projects here: www.cboprojects.com

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• The UBS Billionaire Ambitions Report, in its 10^th year, is the longest-running and most comprehensive wealth management study of the current era of billionaire wealth.
• Billionaires have outperformed global equity markets over the past 10 years, with their total wealth increasing 121% to USD 14 trillion from USD 6.3 trillion.
• The number of billionaires increased to 2,682 from 1,757 over the past 10 years.
• US billionaires accrued the greatest gains in 2024, reinforcing the country’s place as the main center for billionaire entrepreneurs worldwide.
• The wealth of tech billionaires increased the fastest, followed by those in industrials.
• Since 2020, consolidation among China’s billionaires has slowed the global growth trend.
• Billionaires are relocating more frequently, with 176 having moved country since 2020.

Baby boomer billionaires’ heirs and philanthropic causes are set to inherit an estimated USD 6.3 trillion over the next 15 years.

Jersey, Channel Islands, 5 December 2024 – UBS today announced the launch of the 10^th UBS Billionaire Ambitions Report, which tracks the wealth of more than 2,500 billionaires across the Americas, EMEA and APAC, focusing on the last 10 years. The bank also conducted an online survey of the views of a sample of UBS billionaire clients across the world’s main regions.

“For 10 years, the report has been chronicling the growth and investment of great wealth, as well as how it’s being preserved for future generations and used to have a positive effect on society,” said Benjamin Cavalli, Head of Strategic Clients at UBS Global Wealth Management. “This anniversary edition looks back over the report’s discoveries of the past 10 years to identify the key developments in billionaire wealth.”

Global wealth creation flatlines

Between 2015 and 2024, total billionaire wealth increased by 121% globally from USD 6.3 trillion to USD 14.0 trillion. By comparison, the MSCI AC World Index of global equities rose 73%. During this time, the number of billionaires increased from 1,757 to 2,682. The peak was reached in 2021 with 2,686 billionaires. Since then, it has remained flat.

From 2015 to 2020, billionaire wealth grew globally at an annual rate of 10%. Since 2020, growth has stalled at 1%. But that number masks continued expansion in the US, EMEA and parts of Asia, most notably India.

Over this time, the impact of Chinese billionaires’ dynamism and consolidation has been clear. Chinese billionaire wealth more than doubled from 2015 to 2020, rising from USD 887.3 billion to USD 2.1 trillion. Since then, it has fallen to USD 1.8 trillion. Even so, the overall number of billionaires remains stable.

By contrast, North American billionaire wealth has continued to accumulate. From 2015 to 2020, North American billionaires’ wealth increased from USD 2.5 trillion to USD 3.8 trillion. And from 2020 to 2024, it rose 58.5% to USD 6.1 trillion, led by industrials and tech billionaires.

In Western Europe, wealth accumulation has slowed slightly since 2020 against a backdrop of higher interest rates. It rose from USD 1.5 trillion to USD 2.1 trillion from 2015 to 2020, before increasing to USD 2.7 trillion by 2024, led by tech billionaires in fields ranging from software to messaging and music streaming.

Tech entrepreneurs

While regional differences have emerged in the past 10 years, tech entrepreneurs have played a steadily increasing role across the global economy. That has resulted in tech billionaires’ wealth growing the fastest of any sector, tripling from USD 788.9 billion in 2015 to USD 2.4 trillion in 2024.

In earlier years, the new billionaires commercialized e-commerce, social media and digital payments; more recently they engineered the generative AI boom, while also developing cybersecurity, fintech, 3D printing and robotics. Industrials billionaires increased their wealth from USD 480.4 billion to USD 1.3 trillion as nations invested to sharpen their competitive edge, especially in the green economy, to deal with demographic challenges and to support the economic trend of reshoring. Industrial policy interventions are benefiting technologically advanced businesses like aerospace, defense and electric vehicles.

The sector lagging all others is real estate. Real-estate billionaires performed in line with the broad universe until 2017 but have lagged since then, possibly due to a combination of China’s property correction, the Covid-19-induced upheaval in parts of commercial real estate and higher US and European interest rates.

Equities, real estate, gold

Billionaires’ views on asset classes are shifting at a time when interest rates appear to be starting an easing cycle in the US and Europe, which may underpin economic growth. Over the next 12 months, 43% of billionaires intend to increase their exposure to real estate and 42% to developed market equities. At the same time, though, they’re increasing investments in perceived safe havens. The survey found that 40% intend to increase gold / precious metals exposures over 12 months and 31% cash. This could reflect fears of heightened geopolitical risk and equity market valuations.

When it comes to alternative assets, billionaires continue to invest – most likely for diversification – yet with some changes. While 38% still intend to increase their direct private equity holdings, only 28% plan to raise private equity funds / funds of funds holdings, with 34% planning to decrease them. Twenty-six percent intend to increase investments in infrastructure and more than a third (35%) in private debt. At the same time, hedge funds are looking less popular, with 27% intending to decrease investments and 23% looking to increase them. Thirty-two percent of billionaires said they plan to increase their exposure to arts and antiques. That compares with 11% in the previous year.

Billionaires on the move

The Covid-19 pandemic was a wake-up call for a lot of people and led them to reassess their lives. Billionaires were no exception. With homes, family and businesses spread across different countries, billionaires have always relocated. However, since 2020, they’ve moved more frequently, with 176 having moved from a total population of 2,682 in April 2024. That’s one in 15.

They’re moving to countries such as Switzerland, the UAE, Singapore and the United States. In total, billionaires accounting for more than USD 400 billion have emigrated in four years, with the MEA region attracting the most billionaire capital.

Big regional differences

US billionaires accrued the greatest gains in 2024, reinforcing the country’s place as the main center for billionaire entrepreneurs worldwide. Their wealth rose 27.6% to USD 5.8 trillion, accounting for more than 40% of billionaire wealth worldwide. The number of US billionaires increased 11.2% to 835. There were 101 new US billionaires, while 20 individuals saw their wealth drop below a billion.

Central and South America’s billionaires also had a good year. In Brazil, 19 new billionaires lifted the total to 60, and wealth increased 37.7% to USD 154.9 billion. Overall, Central and South America’s billionaires advanced their wealth by 20.8% to USD 411.4 billion, while their number grew from 74 to 92.

Across the Americas region, the number of billionaires grew from 867 to 973 and their wealth increased 26.9% to USD 6.5 trillion.

In the APAC region, the picture was mixed. Billionaires’ wealth from Mainland China and Hong Kong SAR fell 16.8% to USD 1.8 trillion, while the number dropped from 588 to 501. In a market with a high rate of billionaire churn, 138 people’s wealth fell below a billion, while 53 individuals became billionaires.

Elsewhere in the APAC region, Indian billionaires’ wealth increased 42.1% to USD 905.6 billion, while their number grew from 153 to 185. Forty people became billionaires against the backdrop of rising equity prices and rapid economic expansion. In the APAC region, growth in billionaire wealth flattened, increasing 1.8% to USD 3.8 trillion. The number of billionaires fell from 1,019 to 981.

In EMEA, Western Europe’s total billionaire wealth rose 16.0% to USD 2.7 trillion, partly due to a 23.8% increase in Swiss billionaires. The number of Western European billionaires climbed from 456 to 495.

Within the Middle East and Africa, UAE billionaires’ aggregate wealth rose 39.5% to USD 138.7 billion, with the number of billionaires growing by one to 18. In total, EMEA’s billionaire wealth grew 17.0% to USD 3.7 trillion, with the number of billionaires increasing by 70 to 728.

The year’s new billionaires were mainly self-made. People becoming billionaires for the first time numbered 268, with 60% of them entrepreneurs. That reverses the position in last year’s report when most new billionaires were multi-generational billionaires inheriting money. As the great wealth transition gains momentum, though, the proportion of multigenerational billionaires is forecasted to increase.

What’s ahead

Looking to the next 10 years, billionaires face an uncertain world. It’s clear that governments must balance fiscal rectitude with mounting spending requirements, particularly in countries associated with ageing populations. At the same time, geopolitical tensions will remain high, with ongoing barriers to international trade. Against this backdrop, billionaire entrepreneurs will need the distinctive traits identified as key to their success in a previous issue of this report: smart risk-taking, business focus and determination.

Learning from the past 10 years of this report, risk-taking billionaires are likely to be at the forefront of creating two technology-related industries of the future already taking shape: generative AI and renewables / electrification. This year’s report shows how tech’ CEO founders are already leading the way, pursuing their visions with high conviction and an appetite for risk.

In a world where billionaires’ families are more complex and mobile, wealth planning will continue to evolve. It will continue to stress simplicity that allows for the flexibility required by multilayered families living around the world, who may choose to move country from time to time. But there will also be a sharper focus on the needs of individual family members, recognizing that everyone has different strengths and ambitions. Family governance will remain key, especially involving the next generations.

In the 10 years of the study, multigenerational billionaires have inherited a total of USD 1.3 trillion. This amount understates the total inheritance as many heirs have not themselves become billionaires. Looking forward, we calculate that billionaires aged 70 or more will transfer USD 6.3 trillion over the next 15 years, mainly to families but also to chosen causes. That is a significant increase from the 2023’s estimate of USD 5.2 trillion over 20 – 30 years, due to asset price inflation and the ageing of billionaires.

Learn more and download the report, here.

About the UBS Billionaire Ambitions Report 2024

This is the tenth report from UBS focusing on billionaire wealth and ambitions. UBS conducted an online survey of billionaire clients booked in Switzerland, Europe (excl. Switzerland), Singapore, Hong Kong, and the United States between 18 June and 30 September 2024. The total sample size was 82 respondents. Separately, PwC has tracked the wealth of more than 2,500 billionaires across the Americas, EMEA and APAC (47 markets), focusing on the 10 years to 2 April 2024. The results of our research have been analyzed by UBS subject matter experts.

About UBS

UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. With the acquisition of Credit Suisse, UBS manages 5.7 trillion dollars of invested assets as per the fourth quarter of 2023. UBS helps clients achieve their financial goals through personalized advice, solutions, and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

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