Most people have been to the market for lunch. Not many people have gone for a market buffet. This was an ingenious idea thought up by our 10 Minden Street cohabiter and icon Laura Morel, which takes le premier goût to a whole new level.
The overwhelming selection of enticing dishes in the market is enough to put even the most agile decision maker into stasis. So why choose? Get a group of friends together, and share a selection of signature dishes. One minute you can graze through the culinary landscape of Sri Lanka, the next you can indulge in the comfort of market pasta.
MAINS
Little Jaffna: ‘The New Sri Lankan’ (image above)
What they recommended….
Masala Dosai
Description: Crispy dosai with a masala potato filling, salad and spicy sambal.
Price: £10.50
Team responses: “Excellent”, “would definitely come here again”, “authentic and delicious”, “a comfortable, nice heat”, “10/10”.
Delicado Delicatessen: ‘The Italian Place’
What they recommended….
Penne Della Casa (aka ‘Market Pasta’)
Description: If you’ve not had Market pasta, have you even lived in Jersey?
Price: £3.60
Team responses: “A classic”, “comfort food”, definitely Ollie’s favourite: “does anyone else want more of this before I eat it all?”
Casa Paco: ‘The Spanish Place’
What they recommended….
Grandmother Special
Description: Pork, Serrano ham, semi-cured Manchego, sweet roasted piquillo peppers, aioli. All in a crusty baguette.
Price: £8.25
Team responses: “Oh my God, it’s so good”, “I think it’s the peppers that get me”, “to be enjoyed as part of a balanced diet where you only eat lettuce leaves for the rest of the day”.
Team responses: “Packs a punch”, “tastes freshly slaughtered”, “it’s a wrap as wraps should be – girthy, with a strong circumference”.
Stars Noodle Bar: ‘The Noodle Place’
What they recommended….
Yaki Soba Noodles
(Vegetable)
Description: Mountains of stir-fried noodles with a fresh selection of veg.
Price: £10
Team responses: “Lots of fresh veggies going on in there”, “tastes healthier than your average takeaway”, “shortest wait time of everywhere in the market”.
DESSERTS
Vienna Bakery: ‘The Bakery’
What they recommended….
Jersey Wonder, Iced Doughnut, Sugar AND Jam DoughnuT & Townie,
Description: Selection of sweet treats
Price: £5.78 (in total)
Team responses: “Tastes like the world’s most expensive chocolate”, “you can’t beat a sugar and jam doughnut. it’s a classic”.
What’s so ‘millionaire’ about millionaire’s shortbread? Sure, it’s decadent, rich, and has lines as crisp as a tailored suit, but aside from this, it’s actually pretty ordinary. Beneath its lavish exterior, it’s a deceivingly simple dessert: chocolate, caramel, shortbread. Yes, the addition of the former two ingredients certainly elevates the latter. But is it enough of a difference to qualify a move from economy to first-class? Does the millionaire shortbread live up to its name, or is it just another dessert dressed in expensive attire?
If this realisation has brought you to the cliff-edge of existentialism, don’t even try to dive into the realm of ‘billionaire’s shortbread’. This so-called upgrade is almost entirely identical to its lesser counterpart, save for a mere sprinkle of salt. It’s a curious distinction when you consider the staggering difference in wealth between a millionaire and a billionaire – enough to buy 135,000 metric tons of salt. For some, salted caramel may be a game changer – but is it all it’s cracked up to be?
In light of this, we decided to take action and explore ways to enhance the status of this dessert. With our big 2-0 on the horizon, it seemed like the perfect opportunity to celebrate, with a dish that could stand up to the occasion. We reached out to talented local chefs in Jersey, hoping to inspire a new version of a millionaire’s shortbread – one that lived up to its illustrious name.
Over the next few pages, we delve into a world of culinary creativity and cultural twists – revolutionising the traditional Scottish dessert. From the exotic flair of saffron-scented cream cheese, to light and airy sesame and lime espuma, to a French-inspired take turning the dessert inside out, the chefs at L’Horizon, Tassili and Pomme d’Or have outdone themselves. They present a lineup of desserts that not only honour the original, but elevate it to a level worthy of celebration.
Prachi Apurva
Sr. Sous Chef
Pomme d’Or Hotel
(photo above)
Growing up in India, the land that celebrates food in every moment with immense diversity, I can delightfully say that food has always been my first love. With over a decade of experience in various cuisines such as Mediterranean, British, Oriental, and Indian, I am currently managing a team of culinary experts, focusing on excellence in every recipe we create at The Pomme d’Or.
The dish showcases an amalgamation of different cultures through its ingredients and techniques.
What is your earliest food memory?
Since I was 4, I remember watching cookery shows and writing down recipes for my mother, then standing beside her, intrigued, as she created those treasured culinary memories. As a child, it was magic for me! One day, my older sister needed to take a special dish of my mom’s, one everyone loved, for her school potluck with 50 students. My mom had just started preparing it, but then she got an emergency call—she is an obstetrician-gynaecologist. That was the first time, at the age of 7, I cooked something on my own from scratch. My father and sister stood beside me, and this time, it was my turn to be watched as I created that ‘wow’ moment. 🙂
What’s so ‘millionaire’ about millionaire’s shortbread?
It’s the whole idea of layering shortbread with caramel and chocolate, resulting in a rich and decadent masterpiece.
What’s more important – presentation or taste?
Taste!
What’s the greatest crime against cuisine?
It’s failing to appreciate the versatility and natural qualities of ingredients and how they should be used to balance the texture and taste of a dish.
When’s the last time somebody cooked for you, and what did they make?
A friend and team member cooks something special for me at times when I tell him I’m hungry. The last time, he made ricotta and spinach tortellini with king prawns in arrabbiata sauce with a balsamic glaze drizzle. The brilliant taste still lingers in my mouth!
What’s the most important piece of kitchenware you’ve bought for yourself?
Can’t choose, all of them are important, which is why I bought them.
Death row meal?
A very traditional Indian dish: Rajma, which is red beans simmered in spiced tomato and onion curry. I love to have it with ghee roti, okra fry and coriander chutney. My mouth is watering already!
Go-to takeaway?
A small eatery on New Street called ‘2 Tasty.’ It offers good quality and taste, making it one of my favourites. Also, Machans, a simple home-cooked Sri Lankan food tiffin delivery service by Jack. It’s a bit of home away from home!”
You’re going into co-op with £10, what do you get?
Ice cream and a variety of fruits
Favourite music to listen to whilst cooking?
Reggae, Bollywood, R&B, and Pop
Luke Newton
Head Chef
L’Horizon
Born in the north east of England, I have had very humble beginnings. While I was studying I was offered a job in a kitchen of a nearby five Red Star hotel where I remained while going to catering college. It soon became clear that the kitchen was where I wanted to be. I was full of ambition and working with so many amazing chefs was very inspiring. I would watch them work and feel jealous that I wasn’t as good as them, which really motivated me to push on and reach their level. When I got offered a position in management I realised that I missed cooking so I wanted to get my chef whites on again and re-energise the passion for food.
Tell us about your dish….
Jersey butter caramel with miso, Valrhona chocolate mousse, shortbread biscuit crumb, sesame and lime espuma with black sesame seeds.
What is your earliest food memory?
My granddad had allotments, so I spent a lot of my youth skipping school and helping him to grow and harvest the crops. The allotments were vital to us and from a really young age, I loved not only helping on the land but also podding the peas and chopping and dicing the other vegetables, ready for my gran to cook.
What’s so ‘millionaire’ about millionaire’s shortbread?
I think the concept of it being so sweet, makes it so indulgent you just want more. It’s like a naughty treat!
What’s more important – presentation or taste?
Taste absolutely, what’s the most in creating dishes if they don’t taste delicious. Although people nowadays do eat with their eyes too so presentation is important.
What’s the greatest crime against cuisine?
Fast food chains. Food is now a convenience thing and we have lost patience in waiting for quality food.
When’s the last time somebody cooked for you, and what did they make?
My partner made a leek and potato soup with chicken breast, it sounds random but was pretty good!
What’s the most important piece of kitchenware you’ve bought for yourself?
A good rubber spoonula, although I do love the air fryer, its a toss up!
What would be your death row meal?
Corned beef and potato hash, with a Warburton’s milk roll, pint of full fat milk, pink slice and iced buns for dessert.
What is your go-to take away?
Indian all the time, could eat it every day!
You’re going into co-op with £10, what do you get?
Onions, potatoes, mushrooms, tin of Heinz baked beans, bread, eggs and ham – not much left after that.
Favourite music to listen to whilst cooking?
Anything with a bit of attitude, The cranberries are always on at home so probably them.
Nicolas Valmagna
Head Chef
Tassili at The Grand
I was born in Paris but as a child moved to the South of France. My mother and grandmother’s honest, traditional French style of cooking inspired me to become a chef from an early age and I spent a lot of time with them in the kitchen before heading off to catering school to hone my skills. The cuisine that I bring to Tassili is influenced by where I have worked and travelled, from France to Switzerland and New Zealand.
Tell us about your dish….
The dish is a French interpretation of millionaire shortbread. The biscuit is inside the dessert rather than traditionally on the bottom, a salted caramel ganache with Valrhona chocolate crémeux and glazed with chocolate. We also used gold powder on top to symbolise the luxury of a millionaire.
What is your earliest food memory?
I remember being fascinated by my grandmother’s cooking and I would always watch what she was doing. At this stage I was very young so I was just observing everything but as soon as I was old enough I was helping where I could. She owned her own deli so was constantly preparing things for the shop and I knew I wanted to develop my skills to become a professional chef.
What’s so ‘millionaire’ about millionaire’s shortbread?
Millionaire shortbread is made with such simple ingredients but the way it is made gives it such a luxury and indulgent taste.
What’s more important – presentation or taste?
For me if you don’t use quality products then it might present well but not taste the best so ideally you want quality products that taste amazing.
What’s the greatest crime against cuisine?
My mother’s cooking!
When’s the last time somebody cooked for you, and what did they make?
My daughter made me crepes recently, they were very good I must say. She has obviously learnt from the best (her mother)!
What’s the most important piece of kitchenware you’ve bought for yourself?
A Kitchen Aid mixer is essential for me. You can make your own butter, bread and of course pastry and cakes.
What would be your death row meal?
Random but spaghetti and butter.
What is your go-to take away?
Definitely sushi as it’s something different that I don’t cook myself so feels a real treat.
You’re going into co-op with £10, what do you get?
Coffee, lots of it, ham and of course a baguette.
Favourite music to listen to whilst cooking?
I don’t like to listen to music when cooking as it distracts me and I like to focus.
As a leading fund administrator in a competitive industry, Saltgate stands out.
As their tagline goes, Saltgate invest in the best. They believe that an investment in their people, in their systems and in their clients is an investment that is truly worth making. This frame of mind is instrumental to their level of success because clients and colleagues look for elements they align with when choosing to partner with them.
People are a priority
Saltgate believes that if someone is given the time, tools, and space to achieve greatness, they will. Saltgate’s people first proposition empowers their teams to succeed in their roles, by creating a framework that caters to differing needs and circumstances of individuals and creating a structure that works in harmony with these. Adopting an uplifting, supportive culture empowers the team to aim high and achieve more, so they consistently deliver an excellent standard of client service.
For Saltgate, ensuring their values are at the forefront of everything this do is a non-negotiable, so they’re dedicated to creating an environment where colleagues feel safe and empowered to bring their true, authentic selves to work. Colleagues have the space, trust, and accountability to reach their potential, because when people feel their best, they perform their best, hence ‘we invest in the best’. Recently, Saltgate gathered everyone from all their offices to get together for two days of team building and business updates, it was a real celebration of their culture and values, bringing all their offices together as One Saltgate.
Innovation is an investment
Saltgate was founded on the principle of nurturing long-term partnerships with clients. This ambition required the appetite to innovate, and it still fuels their digital transformation journey today.
Digital transformation drives their culture of continuous self-improvement by promoting a focus on efficiency, user experience, data integrity, and security. Saltgate work to develop and implement best-in-class technology solutions across all areas of the business to ensure continued delivery of service excellence. Flexibility is a huge part of their approach. They leverage this to build long-term partnerships with clients, by providing more than just ‘off-the-shelf’ products and services.
Their biggest achievement so far is the launch of STAR, a proprietary payment front-end system. This forms the user entry point for their transactional ecosystem by integrating with their static data platform, ERP accounting systems, and payment platform – allowing straight-through processing via their own SWIFT bureau. The launch of STAR was the first of its kind, and the result of a major project in collaboration with internal and external stakeholders across their operational jurisdictions. It lays a strong foundation for their future innovations around the payment, accounting, and reconciliation functions. It’s an exciting time for businesses with the innovation opportunities available to them, and Saltgate remains ahead of the curve ensuring that they are continually investing in the best technology.
Clients are key
Saltgate are selective about their clients and want to invest in long-term partnerships. Their clients’ interests always come first, and they aim to service their needs seamlessly. Striving to be viewed as an extension of their clients’ teams is at the heart of what they do. They are continually working to anticipate their clients’ changing needs and to develop and tailor their offering accordingly. To maintain this level of service Saltgate works with dedication, integrity and intensity. It’s this level of service that makes them stand out.
If you’d like to be part of something great, or want to learn more about careers at Saltgate, reach out to the People team at opportunities@saltgate.com, or visit saltgate.com/careers.
For this edition’s Relative Values we met with Ellen Carre and Lyndsey Pinnington from Palmer. Both ladies joined this exciting financial services start-up, this year. With Ellen, Head of Client Services and Lyndsey, General Counsel.
Ellen is involved in every aspect of running and growing the business, from meeting new clients to applying new data techniques. “Life at Palmer is so varied, which I love.” Ellen has spent this year establishing the new Jersey office, helping to win their first new clients and building a great team of people. Palmer are ambitious and keen to set new standards in their industry. Focusing on their culture and building a business that people love to work for and clients want to work with. “We’re also having lots of fun along the way,” she commented.
Lyndsey meanwhile has been relishing the opportunities which come with working for a start up. Her aim for the year ahead is to continue to drive the business forward and build upon what they have created so far, “I think Palmer is special in an industry that often flatters to deceive. We’re excited to work with great clients and create a culture for our people to thrive.” With their already impressive reputation, Palmer is sure to go far. This year the plan is to continue to drive the business forward and build upon what we have created so far. I think Palmer is special in an industry that often flatters to deceive. We want to work with great clients and create a culture for our people to thrive.
Ellen
Favourite possession: Probably my phone
Favourite place: Disney World in Florida
Favourite colour: Red but anything bright and cheerful
Favourite animal: Lions
Favourite smell: Since covid I’ve lost my sense of smell but I really miss the smell of my perfume.
Favourite way to spend a weekend: Running and a lunch with the girls
Favourite food: Roast dinner with extra gravy
Favourite ice cream flavour: Jersey Dairy Coconut and Pineapple
Favourite restaurant: The River Café in Hammersmith. The menu changes twice a day everyday!
Favourite past time: Sea swimming, all year round! It’s more of a dip than a swim in January, but still I feel amazing afterwards.
Favourite film: The Sound of Music, loved watching this when I was little.
Favourite book: To Kill a Mockingbird by Harper Lee. An all-time classic.
Favourite song: Walking on Sunshine, Katrina and the Waves, it’s such a feel good song!
Favourite person: My sisters, can’t pick one.
Favourite celebrity: Currently inspired by Olympian Gabby Thomas.
Favourite things to splurge on: Always on holidays, I try to explore somewhere new every year.
Favourite memory: I have a few, the finish line of London Marathon, my little dog Penny as a six week old puppy and the morning of my wedding day.
Lyndsey
Favourite possession: With three children, a dog and a busy job I am on the move a lot so in all honestly my favourite possession would be my bed!
Favourite place: Venice having lived there for a time.
Favourite colour: Blue
Favourite animal: My old rescue dog Mylo
Favourite smell: Lavender or Citrus
Favourite way to spend a weekend: Spending time with my children, eating good food and having some time to read or watch a movie.
Favourite food: Pasta
Favourite ice cream flavour: Pistachio
Favourite restaurant: Le Louis XV- Alain Ducasse in Monaco for the experience and the food or a small traditional restaurant on the Giudecca in Venice called Do Mori.
Favourite pastime: Reading or cooking.
Favourite film: Breakfast at Tiffanys or Home Alone for the family memories it evokes.
Favourite book: Hard to choose but Pride and Prejudice or Tenant of Wildfell hall
Favourite song: Just say yes by Snow Patrol (in no way aligned to my approach to legal and compliance)
Favourite person: I have 3 children so not sure I can give a fair answer
Favourite celebrity: Audrey Hepburn
Favourite Things to splurge: Coffee or a good coat
Favourite memory: Spending Sundays with my grandparents growing up.
It’s a scenario we all know too well. You’ve got a big occasion coming up, and you don’t know what gift to get. Said friend or family member seems to already own everything, and to make it even worse, when you asked them if they wanted anything they came back at you with ‘your company’. Whilst you could give them a redeemable coupon for so many hours of quality time – or offer to replace their current PA – there are more practical ways to navigate this problem: drop loads of cash and add a personal touch.
Luckily for you, we’ve put together a luxury gift guide which can cater to every kind of person provided they have a taste for the finer things in life. Whether they’re a jet setter, music enthusiast or just enjoy a good glass of champagne, we’ve got you covered.
Rolex Daytona Cosmograph
A Rolex Daytona is a gift that never stops giving. It outperforms traditional financial assets, making it a great investment that they can also wear. It’s one of the brand’s most iconic models, featuring a sleek combination of performance and style. Since its inception in 1963, it has appealed to motorsports enthusiasts everywhere, with advanced chronograph functions where precision meets performance. This luxury gift is especially meaningful when given to investment managers, petrol heads or tidsoptimists*. From £24,500
*A tidsoptimist is a person who underestimates how long something takes, and also overestimates how much time they have at their disposal; i.e, they’re always late.
McLaren Track Day Experience
This is the perfect bucket list experience for an adrenaline junkie, up there with skydiving, freesolo-ing and diving with sharks. Being behind the wheel of a McLaren is sure to get the heart pumping, and seeing as you’re gifting an experience there’s no risk they already have it. There’s always the chance they’ve already done it, but I imagine you need a few goes before 200mph feels slow. If nothing else, it will keep them off Death Road in Bolivia. £389
Bespoke Savile Row Wardrobe
This is an excellent way to guarantee that your gift won’t be shoved to the back of a cupboard full of miscellaneous items and forgotten about. The bespoke tailoring experience at London’s legendary Saville Row will don the person of your affection with a fully customised wardrobe, including suits, shirts and outwear. Using only the finest fabrics and craftsmanship, this gift is bound to refine individual style whilst exuding sophistication. £3,500+
Bang & Olufsen BeoVision Harmony TV
Yes, they’ve got a TV, but have they got a TV that unfolds and rises into the sky on wings? Didn’t think so. The Bang & Olufsen BeoVision Harmony TV has a generous screen size of 88 inches, and promises a full-bodied cinematic performance. It comes equipped with an exceptional sound system and cutting-edge display technology, allowing you to jump into the world of whatever movie you’re watching. Fall asleep to the soft serenade of David Attenborough’s voice whilst whale-watching, or reach new levels of sensory stimulation in a fast-paced Guy Ritchie number. With a Bang & Olufson, the world’s your oyster. £45,040
Steinway & Sons Grand Piano
For the musically inclined, a Steinway & Sons grand piano combines impeccable craftsmanship with world-class sound quality. They take almost a year to create, composed of carefully selected woods before being cured for months in specialised yard kilns and conditioning rooms. A Steinway is more than just an instrument, it’s a statement piece for your home, bringing art and music together in perfect harmony. £60,400 to £70,100
Herman Miller Eames Lounge Chair & Ottoman (Limited Edition)
This chair is enough to make even Joey and Chandler jealous. A true design icon, this limited edition piece is crafted with exclusive materials such as leather and rare woods. It is the ultimate luxury for your living space or office, transforming a space with mid-century modern design. Forget the BarcaLounger, this is much more comfortable. £5,200
DJI Inspire 3 Professional Drone
A drone is definitely one of the coolest gifts you can give to a tech enthusiast or aspiring filmmaker. This DJI Inspire 3 is a professional-grade drone that captures stunning 8K video. It features advanced flight control, obstacle sensing, and cinematic camera capabilities, ensuring top-grade aerial footage that is almost too good to post on social media. £13,400
Dom Pérignon P2 2002 Champagne Set
Champagne is always a good idea. It’s a decadent indulgence, perfect for celebratory moments. Rocking up to an engagement party? Champagne. New puppy? Champagne. Finally getting round to taking the yacht out for a spin? Wouldn’t be right without champagne. Gifting a Dom Pérignon P2 2002 Vintage Champagne Set ensures that whoever is on the receiving end always has a back up for unexpected jubilant moments. In some ways, it’s almost practical? £420
Louis Vuitton Horizon Luggage Set
This is a gift that you’d probably want to wrap before it gets manhandled at Gatwick. At the intersection of high fashion and practicality, the Louis Vuitton Horizon Luggage Set is a fail safe present for frequent travellers. The lightweight design and four-wheel feature makes it the perfect accessory for over-packers – transporting ‘slightly’ over 23kg has never felt so good. The Horizon collection is encased with the brand’s iconic monogram canvas or sleek leather, ensuring that the jet-setter is always travelling in style. £5,620
Flyboard by Zapata
Go down to St Aubins and upstage all the jet skiers with a Flyboard by Zapata. It is currently the closest we’ve gotten to inventing a jet pack, and it won’t set your legs on fire as it projects you into space. It’s a gift that will be appreciated by thrill-seekers and their loved ones alike; a bruised ego from a bad belly flop is probably the worst injury they’ll get. £750
Wealth management—the phrase might conjure up images of mahogany desks, pinstripe suits, and phone calls sprinkled with stock jargon that’s only marginally more comprehensible than hieroglyphics. But that was yesterday. Fast forward to 2025, and wealth management has traded in its stodgy past for a future of sleek tech, personalized services, and a dash of playfulness. Let’s dive into the top trends that are shaping the way we handle our money (or wish we had enough to need managing!).
AI Advisors: The New Robo-Gurus
Remember the days when you had to actually talk to a human to get financial advice? Gone are those awkward conversations with advisors who always seemed to be 15 minutes late for your Zoom meeting. In 2025, artificial intelligence (AI) has officially taken over the heavy lifting, and it’s doing so with precision. AI-powered advisors can sift through mountains of data in seconds, offering personalised investment portfolios without even breaking a sweat (or, you know, overheating their circuits).
Sure, we still have human advisors for the big decisions, but as one wealth manager put it, “AI is like having a co-pilot who never gets tired or needs a coffee break. It’s the best wingman you could ask for in wealth management.” With algorithms learning at lightning speed and automating the more mundane tasks, human advisors can focus on strategy, building relationships, and maybe even finally making it on time to that Zoom call.
ESG Investing: Because Conscience is the New Black
Environmental, Social, and Governance (ESG) investing has skyrocketed in popularity, transforming from a niche market for tree-huggers into a mainstream investment philosophy that’s as essential as a good cup of coffee. In 2025, it’s no longer just about making a profit; it’s about making a difference. Investors, both large and small, are increasingly asking, “Can I make money and save the planet at the same time?”. In 2025, you’re either ESG-conscious or you’re irrelevant. Clients want to know where their money is going and whether it’s doing good—not just for them, but for the world. Expect this trend to keep growing as younger generations inherit wealth and prioritise sustainability in a big way.
Personalisation on Steroids: No More Cookie-Cutter Plans
If you thought “personalised service” in wealth management meant someone knowing your name when you walked into a swanky office, think again. The buzzword for 2025? Hyper-personalisation. Thanks to big data, behavioural analytics, and those trusty AI advisors we talked about earlier, financial plans are now being tailor-made like a high-end suit. We’re talking investment portfolios that factor in not just your income and risk tolerance, but also your lifestyle, your values, and even your personal goals—whether that’s buying a dream house, retiring early to travel the world, or just being able to order avocado toast without guilt.
Cryptocurrency: Still the Wild West, but Getting Tamed
In 2025, crypto isn’t just for the tech-savvy or those with a penchant for roller-coaster financial experiences. It’s moving steadily toward the mainstream, with regulators finally starting to get a handle on how to govern this digital frontier. Sure, Bitcoin might still be too volatile for some, but many wealth managers are including a sprinkle of crypto in portfolios, especially for their more adventurous clients.
Fintech Collaboration
The fintech revolution has turned the financial services industry on its head, but by 2025, traditional wealth management firms will have embraced it with open arms. Instead of fearing disruption, many firms are now teaming up with fintech startups to offer clients a seamless, tech-enhanced experience. Think: budgeting apps that sync with your investment accounts, AI-driven financial wellness platforms, and automated tax-loss harvesting—that’s so good you’ll forget taxes were ever a thing. Well, almost. A top executive at a major wealth management firm put it this way: “Fintech was the wake-up call we needed. It’s allowed us to innovate faster, and now we’re offering services we couldn’t even imagine five years ago.” The result? A more integrated, user-friendly experience that appeals to both tech-savvy millennials and older, more traditional clients alike.
Financial Literacy as a Priority
For 2025, wealth managers aren’t just handing clients a financial plan and saying, “Trust me, I’m a professional.” In order to stay relevant and ahead, they’re taking the time to educate clients on the “why” behind every recommendation. There’s a growing trend towards transparency, with more wealth managers offering workshops, webinars, and digital resources to help clients understand how the markets work and what drives their portfolio decisions. Educate your clients, gain some trust, and let them understand what you do on their behalf.
As we look ahead, it’s clear that wealth management in 2025 will be a blend of cutting-edge technology, personalised services, and value-based investing. Gone are the days of one-size-fits-all portfolios and opaque decision-making. Instead, we’re seeing a shift toward transparency, education, and a greater sense of responsibility—not just to clients but to the world at large. So, whether you’re ready to embrace AI as your financial co-pilot, eager to save the planet through ESG investing, or just want to sprinkle a little crypto magic into your portfolio, the future of wealth management looks bright—and maybe even a little fun.
Kevin Boscher from Ravenscroft discusses the global macro outlook and how Jersey’s economy stands to benefit.
As 2024 draws to a close, it looks increasingly likely that major economies will avoid recession and, as inflationary pressure continues to ease and central banks embark on rate cutting cycles, this positive outlook extends to Jersey. The economic disruptions since 2020, including the pandemic and the Russian invasion of Ukraine, have been unprecedented and has dramatically disrupted the normal functioning of economic, geopolitical and financial forces. Whilst the global economic environment is gradually stabilising, it is evident that some things will be very different. In the US, economic activity remains strong, driven by robust consumer spending and a free-spending government willing to run large deficits. Unless the Federal Reserve makes a significant policy error or a new economic shock emerges, the US should enjoy a soft landing.
Importantly, the inflation outlook in the US and elsewhere continues to improve, even if it is struggling to return to the 2% target. This is being driven by the normalisation of pandemic and war-related disruptions, improved goods and labour supply, and lower energy prices. The Fed has shifted its focus from fighting inflation to supporting employment and the economy, recognising that households are focused on re-building their savings due to concerns over a softer employment market and increased living costs.
The growth and inflation story in the UK and Europe is similar. Growth and employment are stable but easing inflation pressures and a softer global economy have encouraged the European Central Bank and Bank of England to reduce interest rates, with further cuts anticipated.
Meanwhile, China continues to face cyclical and structural growth weakness due to a shrinking workforce, falling property prices and declining productivity growth. However, the combination of rate cuts and further policy stimulus from China should lead to an improving global growth outlook as we move into 2025.
Looking ahead, a key question for investors is whether the global economy is transitioning back towards disinflationary forces that prevailed prior to the pandemic (what we would refer to as ’Ice’) or to a period of higher inflation, similar to the 70s and early 80s (what we refer to as ‘Fire’). It is possible to make a strong case either way but the truth is that nobody knows. Arguments for the ‘Ice’ scenario include an ageing demographic, continued technological innovation, and a global excess of savings. On the other hand, the ‘Fire’ scenario is supported by demographic-related wage pressures and the need for governments to run larger fiscal deficits to address challenges such as energy and food security, climate change and income inequality.
This presents a challenge for central banks given the record levels of debt in global and individual economies. There is a natural ceiling for interest rates – going beyond this risks causing a debt deflationary or inflationary bust. We saw evidence of this with the UK pension crisis in September 2022 and US regional banks in 2023. Given this, central banks may need to keep interest rates lower than the macro backdrop would naturally dictate, adding to inflationary pressure.
One potential solution might be for central banks (and governments) to target stronger nominal growth through a higher inflation target. This could help governments tackle these challenges, boost long-term growth potential, ease income and wealth inequality and lessen the risk of deflation. Another helpful development would be a new cycle of capital investment by business and we appear to be in the early stages of such a trend in the US and elsewhere, which would boost productivity and long-term growth.
In summary, inflation is moving closer to central bank targets, economies are slowly expanding and central banks have started cutting rates. However, risks remain, including an escalation in geopolitical tensions (especially if this results in higher energy and commodity prices), potential policy errors by the Fed, and social unrest around the US election. The changing world order – driven by geopolitical risks, demographic trends, increased fiscal activism, and a fracturing global economy – adds to the uncertainty. Despite the risks, the next few years should be a positive environment for financial markets. Whilst we are not about to return to a zero-rate world, cash will remain an important asset class and, at the same time, investors may be rewarded for taking on more risk in bonds and equities.
Locally, this macro backdrop should also be positive for our own economy – assuming it plays out as expected. Like other major economies, Jersey’s growth will be dependent on the consumer and property prices. The combination of falling interest and mortgage rates, lower prices, a strong employment market, rising real incomes and a stronger global economy bode well for consumption and economic activity. Longer-term we face many similar issues as other developed economies, namely an ageing demographic, shrinking workforce, growing income and wealth inequality, climate change and the threat of higher long-term inflation.
Geopolitical risks could make Jersey more attractive, but the downside is potential upward pressure on an already expensive property market and further strain on the island’s infrastructure and healthcare systems.
An important feature of our economy is the success and size of our finance industry. The above scenario bodes well for global financial markets and both our finance industry and economy are well-positioned to benefit from this. Additionally, the UK’s tighter fiscal and monetary policy are likely to help lower inflation and strengthen Sterling over the medium term.
So, despite the uncertainty, there are some positives but there is also no doubt that the States will continue to face a challenging and changeable macro backdrop. Therefore, a strong and decisive growth-focused leadership that is not afraid to make tough decisions, when required, will be key to making the most of any opportunities.
Photography and styling: Danny Evans, Assistant: Marta Zamoyska
Words: Ceri Baker and Aimée O’Connor
Combining our two Gallery disciplines of fashion and career profiles, Ceri Baker interviews Aimée O’Connor, Audit Assistant Manager at KPMG in the Crown Dependencies, for our first Agenda fashion shoot interview.
Hi Aimee, tell us about your day-to-day…
As an audit in-charge, I usually conduct daily check ins with team members to ensure that everyone is on track with their allocated areas of the audit. I also have time throughout the day where I am coaching staff members and answering any queries they have. We often have team catch up calls once or twice a week which can be factored into my day.
My day-to-day work also depends on what area of testing I am allocated, which can be many different areas of the financial statements depending on the organisation, such as investment testing. Therefore, my day usually has time where I work independently on this allocated area. I also spend some time during the day answering client emails, as well as having client catch-up calls once or twice a week.
And you’ve had some recent successes…
My best work moment has to be my achievements in my ACCA Qualification. In the September 2022 ACCA sitting I completed my Tax (TX) exam and achieved a score of 98%, which was the joint highest worldwide score in this exam. This was so rewarding as it was my first worldwide score and motivated me to continue to work harder for each exam in the future.
More recently, in the June 2024 ACCA sitting I was completing my two final exams, being Advanced Audit and Assurance (AAA) and Advanced Financial Management (AFM) exams. From this sitting I achieved the highest mark worldwide in AAA with a score of 85%, and the highest mark worldwide in AFM with a score of 100%.
I also achieved a gold medal for being awarded the Affiliate prize, for the joint highest combined score worldwide across my last four Strategic Professional exams. These achievements made me so proud that the hard work I had put in across my studies paid off. I was over the moon with my results and will always remember that amazing feeling on my results day.
Any study tips for us mere mortals?
My method of studying is through using flashcards which summarise the key areas from my workbooks and lots of question practise, such as through doing past exam papers as mock exams. My key study tip is being consistent. Therefore, prioritising study time throughout your day and setting a clear timetable for a revision plan leading up to the exam helps to achieve this.
KPMG have provided a supportive, motivating environment which has inspired me to aim high throughout my professional qualification. The training programme at KPMG meant that I attended in-person study and revision courses for each exam I sat. The approach was very structured, such as sitting mocks leading up to my exams, which was very helpful to get into the exam mindset.
Asking questions in the workplace and for your exams is also vital for your development and learning from experienced people in the sector. Mentoring is provided by my managers and other peers at KPMG, who welcome any queries I have, to guide me through my studies.
What is the best bit of your job?
My favourite aspect of working in audit is learning about the organisation which we are auditing. Working on a specific client for a period of time enables you to build up an understanding of their business and operations, which I find very interesting.
Another best part of my job is relationships. In audit we mainly work in teams, which enables you to build those connections within the firm with your colleagues through having to communicate and work together to complete the audit. There is a huge sense of team spirit at KPMG. Furthermore, I also enjoy building my client relationships over time whilst I am allocated to a certain job. This has been a key aspect of the job which I believe has contributed to building my confidence in the workplace.
….and the hardest bit?
A challenging aspect of my role can be maintaining a healthy work-life balance due to longer working hours during busy season. Busy season takes place in January to April and involves working longer hours due to tight deadlines for our clients during this time. To overcome this challenge, KPMG has taken initiatives such as ‘My One Thing’ which enables each employee to set a dedicated weekly activity which they attend, such as going to a gym class mid-week. This helps to ensure that a balance is maintained during this busy period. Beyond busy season, KPMG are keen for everyone to sustain a work-life balance and they support this with a calendar of sports and social events, plus offer shorter working hours in the Summer months for the audit teams.
Is there a female who inspires you in business?
One celebrity female who has inspired me in business is Deborah Meaden. I watched Dragon’s Den from a young age which is how I came across Deborah. I always loved her attitudes and morals on the programme, and of course how successful she has been in her career and businesses.
Deborah’s influence on business operations in terms of encouraging sustainability and ethical practises is very inspirational. Being a member of KPMG’s Corporate Social Responsibility team, these are positive changes which I would like to help to implement. She has utilised her public voice and wealth in a positive manner to help society and encourage a better world for all, which I also feel strongly about.
Deborah’s first business she started when she was 19 years old failed after 18 months, and despite that she continued to undertake future ventures and continued to be extremely successful in the future. This is inspirational as a young female in the industry to not give up after setbacks and to keep striving for more.
Philip Legrand joined Nedbank Private Wealth in August this year, having spent nearly 15 years in the wealth management and private banking sectors across Jersey and London. Before joining Nedbank Private Wealth he worked as a Wealth Planner for another firm based in Jersey, broadening his skillset and “getting to know a lot of great people in Jersey”. he has also previously worked at UBS and HSBC.
In 2021, Philip decided to take some time out from his career to travel. He and his wife Katie embarked on a six-month sabbatical, travelling through Central and South America, “It was an unforgettable experience, and allowed me to experience new cultures, new perspectives, and to get to know some fantastic people on the way”.
What does your role entail day-to-day?
My day-to-day role involves acting as the conduit between my clients’ financial needs and the wide array of services we provide. What I really enjoy about private banking is the personalised aspect. We focus on treating every client as an individual, which is something that I massively value, and this means I get to enjoy a lot of variety from client to client.
One day I might be working on onboarding a new client, helping them through the process of opening accounts or setting up investment portfolios. The next day I could be assisting a long-term client who’s preparing for a significant event, like the sale of a business. These events can be life-changing, not just financially but also emotionally, as they often represent the culmination of decades of hard work. Navigating those moments with care and expertise is one of the most critical aspects of my job.
What is the best part of your job?
I know it sounds like a cliché, but I genuinely enjoy getting to know my clients – their stories, what makes them tick, and what they value most. Private banking is about more than just numbers on a spreadsheet, it’s about understanding the human side of wealth. How did they build their businesses? What motivates them to continue growing their wealth, and what are their aspirations for the future?
I believe empathy is one of the most important qualities for someone in my role. Truly listening and taking the time to understand a client’s full story builds trust, which is the cornerstone of a successful banker-client relationship, in my opinion. Trust doesn’t happen overnight, it’s built through conversations, shared experiences, and delivering on promises. This relationship-building aspect is what I find most rewarding, and it’s where I feel I can make the biggest impact in a client’s financial life.
Is there someone who inspires you in business?
I’ve always been inspired by Rafael Nadal, the tennis player. His achievements on the court are nothing short of extraordinary, but what really stands out to me is his attitude. Despite being one of the greatest players of all time, he remains incredibly humble and carries himself with grace and professionalism. His work ethic and resilience, even in the face of injuries and setbacks, are lessons I apply to my own career.
What I admire most about Nadal is his ability to maintain focus under pressure, but also his commitment to the future – his tennis academy is a testament to that. I often look to sport for inspiration because it offers instant feedback. In business, I’ve noticed that people often hesitate to give or receive feedback in real-time. But in sports, you have to adapt immediately to win, and that’s a valuable lesson for business as well. I try to apply that mindset by encouraging open, constructive feedback in the workplace. It helps everyone grow.
What trends are you seeing in the wealth industry at the moment?
There are a couple of significant trends we’ve been observing in the wealth industry, particularly here in Jersey.With the mooted budgetary changes in the UK on the 30th October, Jersey has continued to be one of the jurisdictions that Brits look to as an alternative. I think that the Government of Jersey, through Locate, has done a brilliant job of building a reputable and respected service for those people considering the island as their future long-term home. Younger, business-minded individuals, many of them entrepreneurs, are choosing Jersey not just for the business environment, but also because they see it as a great place to raise their families. The island’s excellent schools and strong sense of community are proving to be major draws, which can only be a positive.
Another trend that’s emerging is the increased focus on business exits. Jersey has long been a hot-bed for entrepreneurs, many of which we work with in professional services like trust companies and law firms. Recently, Nedbank Private Wealth conducted research that revealed a growing concern among these business owners about succession planning. The research highlighted that while 75% of those surveyed remained optimistic about their companies, it’s in fact personal and family issues that are keeping them awake at night. More than half of entrepreneurs surveyed also said they don’t plan to involve their children in the running of their business, and of those who do, nearly a quarter said it was challenging. This underscores the need for well-thought-out exit strategies. We’ve been working closely with many entrepreneurs to craft comprehensive wealth plans that support both their personal and financial long-term goals. These plans often involve preparing for the sale or transfer of their businesses, ensuring that their personal and professional legacies are protected.
In both of these trends there’s a growing need for bespoke advice that takes into account the client’s personal circumstances. The clients we work with are not just looking for transactional services, they want trusted partners who can guide them through complex, often emotional decisions. This is where our role as wealth managers becomes invaluable.
Nedbank Private Wealth offers a full range of wealth management services, and our dedicated, friendly team offers an award-winning end-to-end wealth planning service, whatever your financial needs.
For more information about how Nedbank Private Wealth could help you, please call Philip Legrand on 01534 823236, email philip.legrand@nedbankprivatewealth.com or visit nedbankprivatewealth.com
I like to think of myself as pretty forward-looking, but as this little magazine project I undertook hits a twenty year milestone, I can’t help but look back with a glint of nostalgia.
In addition to throwing parties with midget angels, hosting years of Gallery Silent Disco, doing ten charity Galleryrally events, winning CIM, Enterprise, and IOD awards, and creating a dystopian-looking ice cream van in the name of Gallery, we’ve produced one hundred and ninety-eight printed editions. We’ve worked with hundreds of contributors and collaborators who want to create something progressive for Jersey, championing island creativity in art and culture, celebrating islanders’ successes, and promoting their work and businesses. We’ve been a gallery for a motivated and passionate community, outward-looking but inwardly reflecting stories and visuals created by you and people you know. Or someone who someone you know knows. Or their mate. We’re on an island, so it’s probably two degrees of separation at the most.
That’s the beauty of documenting activity in a small community; there’s always someone you know in Gallery. We have the strapline ‘We are you, you are Gallery’ on our stands, which became a bit of an internal joke in the office but does ring true. It’s never really about me or us; it’s about you. It is quite weird to think that some of you reading this and some of the amazing people we’re featuring in this edition were embryos when we produced Gallery #1 though, I have to admit.
In recognition of the big 2-0, we looked up some of our alumni and have a selection of features in this edition from a handful of our favourite columnists of yore (pg. 24). We also tracked down a load of the gang who have done Project Trident with us over the years to see what they’re up to (pg. 30). We feature a couple of businesses who share our anniversary and, as always, a cross section of profiles and creativity from portraits (pg. 52) to ponies (pg. 45) and fashion (pg. 80) to folliage (pg. 46). We also talk family law and wealth trends for the more grown-up amongst you.
Back in September 2004, Green Day released American Idiot, Desperate Housewives premiered as Friends ended and Facebook spread beyond the US University network. Here in Jersey we had an Air Display, a second edition of JerseyLive, and the hot topics in the news were the finance industry getting more compliant, concerns over population growth and housing shortages, and healthcare funding. I’d say there was probably a storm, too. That’s Jersey news for you, the world changes, but Jersey is reassuringly stable.
A massive thank you to all of you who have been picking Gallery up over the last 20 years, our brilliant clients who still see quality print as having a value you can’t communicate through a paper or TikTok, and everyone that’s ever been within these pages; you’re the best .
