SEPTEMBER/OCTOBER 2020

Contents

26

44 36

‘You don’t necessarily have to

put someone in front of the client who looks

like them’

CLEMENT HUTTON-MILLS ON DIVERSITY IN FINANCE, p30

The Agenda

3 THE SPEAR’S LEADER

Sharpen the shovels

8 READERS’ LETTERS

Our readers’ views on Switzerland, office life and the future of dividends

9 EDITOR’S LETTER

By Edwin Smith

10 DIARY

Bioscience entrepreneur Jim Mellon on his quest for a longer and healthier life, and the future of artificial meat

12 THE HEDGEHOG

News from around the HNW universe, featuring Dominic Cummings, Ian Botham and Trevor Abrahmsohn

13 MOMENTS IN MONEY

The story of the first tax haven

14 BOOKS

Ashley Mears’ Very Important People reveals the inner workings of the VIP nightclub scene

16 PHILANTHROPY

James Chen of Vision for a Nation on his goal to improve eyesight in developing nations

18 PORTNOY’S COMPLAINT

Should the professionals fear ‘daytrader’ Pied Piper Dave Portnoy?

20 MATTHEW GOODWIN

Why polling data suggests the end is nigh for Trump. And why some people still don’t trust it

21 ANNAMARIA KOERLING

Should we be using income as a measure of our net worth, rather than assets?

22 ROBERT AMSTERDAM

The crumbling of Western hegemony in global affairs should not have surprised anyone

23 JASON COWLEY

Leeds United’s saviour is a maverick who does it his own way

The Issues

26 HARBOUR DOUBTS

Hong Kong’s troubles are threatening its status as Asia’s financial capital. Alec Marsh charts the fortunes of its wealth managers and family offices

30 THE COLOUR OF MONEY

From Minneapolis to Mayfair. The Black Lives Matter movement has begun to send ripples across the world of wealth. By Arun Kakar

36 CULTURAL DESERT

The opening of the Grand Egyptian Museum creates a spectacular new stop on the emerging Grand Tour of Arabia, says John Arlidge

41 CARVING A NICHE

A small city in South Dakota has emerged as a sanctuary for global wealth. Rasika Sittamparam discovers its secret

44 MICHELIN MAN

William Sitwell gets a taste of chef Claude Bosi’s plans for the return of Bibendum after lockdown