When I was asked by Gibraltar Finance, the #GIBLDN24 organisers, to moderate the Private Client panel as part of this year’s event, I accepted readily. After all, it is reassuring to be asked to represent one’s peers in front of a London audience made up of professionals eager to learn what Gibraltar has to offer.

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I must confess, though, that as the time drew near, I was surprised to be feeling a little uneasy. I was not nervous exactly, for after all I am used to presenting Acquarius to audiences as part of my everyday work. Rather, I felt a sense of responsibility as I took my seat. The panel discussion formed the centerpiece of the Private Client Session, and I was there in my capacity as Chair of ATCOM, the Gibraltar Assocation of Trust and Company Managers. Formed in 1996 by twenty-nine local professional trust and company service providers, ATCOM boasts more than forty members currently. I have been privileged to be Chair since September 2022, having served as Vice Chair for two years before that.

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Any concern evaporated as I took my place, flanked on both sides by hugely experienced industry figures from both Gibraltar and the City. I realised that this was not going to be a hard gig. Nevertheless, we were “on parade” and managing the panel for an hour or two was not going to be easy although we avoided controversy.

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We were introduced by the Minister for Justice & Trade and Industry, the Hon. Nigel Feetham KC, MP. He did a grand job bringing our discussion back to Gibraltar wherever we were in danger of straying too far into the sometimes-esoteric world of private client work.  For example, a discussion on Family Offices included trying to define the concept that could have led to a whole day’s seminar! We learned much from the panel’s personal contributions, kept relevant by the Minister’s helpful comments from stage right.

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The wide-ranging discussion between the distinguished panel covered several crucial topics.    We talked about Gibraltar compared to other jurisdictions that receive more public and press attention. Our discussion led, unsurprisingly given the febrile pre-UK Budget atmosphere in which we were meeting, to relocation, especially from the UK. We touched on Gibraltar’s residency scheme aimed at high-net-worth individuals, more commonly referred to locally as “Category 2” arrangements. 

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My heart skipped a further beat as we approached the final part of the discussion - the oft-dreaded Q&A. I am not a fan of planted questions and would certainly not arrange any. I need not have been concerned. All went well and I was particularly interested by two loosely linked interventions from the floor.

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The first was an excellent comment from a gentleman who had recently obtained “Category 2” status in Gibraltar. Not only was he full of praise for the local law firm with whom he dealt but he told the audience of his frustration at an earlier attempt at obtaining Portuguese residency. Compared to his frustrated Lusitanian adventure, working toward his Gibraltar status was straightforward and, most important to him, much speedier.  

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Next was a well-known lawyer who commented that Gibraltar was seldom mentioned in discussions on relocation.   This was music to my ears – I reflected that if I had wanted a question posed, this was it. I am frustrated when I read UK newspaper articles about supposed droves of British residents seeking to emigrate. Places such as Italy, Portugal, Switzerland, Monaco and even UAE are mentioned regularly. But where is Gibraltar? Further down that same list? Hardly. The Rock barely merits a mention at all in this context. Of course, we do not want to give the impression that relocation opportunities are endless - given our size - but there is scope, suitable real estate available and an unbeatable lifestyle. 

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Then, why aren’t we on par with the rest? We need to be truthful: we are not that effective in promoting our opportunities. Events like #GIBLDN24 are a solid beginning, but as an industry, we need to be nimbler in showcasing Gibraltar’s benefits. We are committed at Acquarius to playing our part, and readers can expect to see much more relevant content from us in the coming months. When compared to other locations, Gibraltar can hold its own across all criteria—often at a more competitive price.

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To summarise, it was a privilege to moderate the event; we certainly made some noise, but now for the hard bit. As a firm, as an industry, and as a jurisdiction, we must keep up the momentum in order that we all benefit from the tremendous opportunities that lie ahead. They will not be merely handed over to us – we must grab them – before someone else does.