Old money still resides in the US and Europe, but private wealth growth has exploded in China and India. Wealth management teams at some UK law firms are matching the needs of a new wave of global clients by offering high-end, commercial advice on an increasingly global platform
One case in recent years sums up how the global wealth landscape has shifted. The high-profile Alhamrani dispute, which settled in 2009, six and a half years after it all began, was Jersey’s most expensive court case. Although the trial never concluded, it lasted more than 100 days and involved trusts worth more than $100m. Jersey advocates teamed up with solicitors from London and elsewhere in the world. The hearing, which began in 2008, involved so many firms, such as Carey Olsen, Crill Canavan and Mourant Ozannes, and so many documents that the Jersey Royal Court didn’t have the space to accommodate the dispute. Instead, the first part of the hearing took place in a hotel that had closed for the winter.
