CONTENTS
‘We have to have hope at the end of the tunnel, otherwise there’s no reason to fight that hard.’ PRINCE ALBERT OF MONACO, p32
MARCH/APRIL 2020
THE AGENDA 20 PHILANTHROPY Former BlackRock managing
9 THE SPEAR’S LEADERS
Time for Boris to play his joker ❘ Stewart for mayor ❘ Crowning glory ❘ Capital gains
director Morris Pearl on the fight against inequality in the US
22 LIQUID LUNCH
Arun Kakar meets London mayoral candidate Shaun Bailey
13 EDITOR’S LETTER
14 READERS’ LETTERS
Readers’ views on African investment, Savile Row and more
16 DIARY
Former Bank of England governor Mervyn King
24 MATTHEW GOODWIN
Our new columnist explores what Boris Johnson’s version of Conservatism actually means
26 ANNAMARIA KOERLING
After a tough decade for active managers, does it make sense to go it alone?
17 SHOT BEFORE DAWN
The launch of ‘active listening’ brand IRIS at Phonica
18 THE HEDGEHOG
News from the HNW universe
19 MOMENTS IN MONEY
The early history of stock markets
28 ROBERT AMSTERDAM
The coronavirus outbreak has exposed the flaws at the heart of China’s authoritarian regime
29 JASON COWLEY
Data has transformed sport and business, but good leaders can still be worth their weight in gold
42
52
32
THE ISSUES
32 THE SPEAR’S INTERVIEW
Prince Albert of Monaco discusses the climate threat and modernising the principality
42 TO FLEE OR NOT
TO FLEE? With independence a hot topic again, Scotland’s financial centre is preparing for a bumpy ride
46 NEW YORK VS LONDON
Which of these great cities is the best home for HNW investment? Edwin Smith looks at the superprime residential building boom
52 HILARY MANTEL
The author on Thomas Cromwell, Thatcher and The Crown
58 PHILADELPHIA STORY
John Arlidge joins Norman Foster at his new hotel in Philadelphia
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