www.wealthandfinance-news.com Q4 2024 Featuring:
AI Global Media, Ltd. (AI) takes reasonable measures to ensure the quality of the information on this web site. However, AI will not assume any legal liability or responsibility for the accuracy, correctness or completeness of any information that is available through this web site. If errors are brought to our attention, we will try to correct them. The information available through the website and our partner publications is for your general information and use and is not intended to address any particular finance or investment requirements. In particular, the information does not constitute any form of advice or recommendation by us or any of our partner publications and is not intended to be relied upon by users in making or refraining from making any investment or financial decisions. Appropriate independent advice should be obtained before making any such decision. Any arrangement made between you and any third party named in the site is at your sole risk and responsibility. Editor’s Comment Editorial Team Joshua Beardsmore, Writer | Kita Thomas, Writer Sofi Parry, Senior Editor Design Team Lauren Baldwin, Graphic Designer Emma Hunt, Creative Manager Welcome to the Q4 edition Wealth & Finance International magazine. As always, we strive to provide fund managers, alongside institutional and private investors, with the very latest industry news in the traditional and alternative investment spheres. From FinTech solutions to innovative funds, data processing to financial compliance, bank card and payment processing, and more, this issue explores an assortment of solutions, services, and products that help us to invest and take care of our money in a better way. Keeping themselves at the very cutting edge of their industries, the winners we feature here in our Q4 issue are positively impacting their crucial sectors. Of course, we turn to those wishing to serve us with sustainability, ethics, and excellence in mind – ensuring we each have a positive experience within the world of finance. We hope you find this issue to be informative and insightful and that you have a tremendous end to the year. We look forward to welcoming you back again soon for our Q1 issue of 2025. Sofi Parry, Senior Editor
Contents 4. News: HMRC Invests almost £300m in Compliance and Fraud Staffing to Combat Rising Fraud Threats Azets Expands Debt Advisory Services to Meet Growing UK Business Financing Demands 6. Infinite Business Solutions DMCC: Most Pioneering Fintech Business Leaders 2024 (Middle East): Ibrahim Darraz & Mohammad Al-Azzeh 8. Street Context: Best Capital Markets Email Enhancement Company 2024 10. Protop Financial Press Limited: Financial Compliance & Data Processing Expert of the Year 2024: Nicole Yuen (Hong Kong) & Wealth & Finance Sustainability Excellence Award 2024 12. Harcus Parker Limited: Best Financial Services Law Firm 2024 - UK & Financial Services Litigator of the Year 2024 (UK): Jenny Morrissey 14. Blackpace: Most Trusted Investment Solutions Advisory Firm 2024 - Nigeria 16. Brighton College Al Ain: British School of the Year 2024 - Al Ain 18. Nomura Asset Management: Best Responsible Investment Manager 2024 & Best Japanese Large-Cap Equity Fund (3 Years): Japan Strategic Value Fund 20. Prosperity Financial Group, Inc.: Best Full-Service Wealth Management & Financial Planning Firm 2024 - California 22. Succession Planning Limited: Best Business Brokerage & Advisory Firm 2024 – UK 23. SucSEED Indovation Ventures LLP: Deep-Tech Venture Capital Fund of the Year 2024 - India 24. QRC Asset Management LLC: Best Emerging HNWI Investment Firm 2024 – USA 25. Ti3 Consulting Limited: Business Transformation Consultancy of the Year 2024 - London 26. Woodworth Contrarian Fund: Best Contrarian Hedge Fund Managers 2024 – USA & Best Opportunistic High Yield Hedge Fund (YTD): Woodworth Contrarian Stock & Bond Fund 27. Mb Structured Investments: Best Structured Investment Product Provider 2024 – UK 28. African Payment Gateway: Best Bank Card Processing & ePayment Solutions Company 2024 - West Africa 29. ALW Tax & Financial Services: Best Full-Service Accounting Firm 2024 - East Coast USA
NEWS HMRC Invests almost £300m in Compliance and Fraud Staffing to Combat Rising Fraud Threats His Majesty’s Revenue & Customs has injected almost £300 million into its compliance and fraud investigation efforts, increasing staffing levels and pay in the Customer Compliance Group (CCG) and Fraud Investigation Service (FIS) to ensure compliance and strong enforcement across the UK, according to official data. The HMRC CCG is responsible for the department’s enforcement and compliance activities, handling everything from taxpayer error corrections to cases involving tax evasion and fraud. The data was retrieved under the Freedom of Information Act (FOI) and analysed by the Parliament Street think tank, observing the department’s spending on compliance staff over the past three years. Over recent years, CCG staffing has grown significantly from 25,656 full-time equivalent staff (FTE) in November 2021 to a peak of 28,617 in October 2022, before settling at 26,841 in October 2023. This is expected to reach an estimated staffing level of 27,340 by October 2024. Within the CCG, the Fraud Investigation Service (FIS) plays a critical role in HMRC’s strategy, leading both civil and criminal investigations into the most serious cases of fraud and financial misconduct The FIS, staffing mirrored the efforts of the CCG, increasing from 4,244 FTE in November 2021 to 4,956 by October 2022, with a slight decrease to 4,735 by October 2023. Pay costs for FIS reflect HMRC’s investment in attracting and retaining skilled professionals capable of tackling complex fraud cases with costs rising from £267.1 million in 2021-2022 to £288.8 million in 2022-2023, with an estimated spend of £286.2 million projected for 2023-2024. Yves Laffont, Sector Lead, Financial Crime Consulting Services at FDM Group, commented: “HMRC’s investment in strengthening its fraud and compliance teams serves as a strong example for businesses looking to build out their own teams. At a time when fraudulent activity is becoming increasingly sophisticated, where we’re seeing AI used in vendor impersonation scams for example, bolstering these functions to prevent breaches and losses is essential. 65% of finance professionals were victims of attempted or actual fraud last year, highlighting that anyone can be targeted and therefore needs to be protected. “Equipping teams with the requisite skills, such as data risk management, enables staff to identify risks faster, close compliance gaps, and prevent losses. Organisations should prioritise experiential learning through simulations of real-world scenarios, teaching staff not only how to identify risks and handle important tasks, but also to understand the human impact of financial crime. This will facilitate continuous learning while building empathy and social responsibility, helping staff stay ahead of both fraud threats and their evolving societal implications.” These staffing and funding increases reflect HMRC’s ongoing commitment to protecting public revenue and upholding tax compliance across the UK. Laffont continued: “In England, fraud represents over 40% of recorded crimes, yet commands merely 2% of police resources, a disparity that disproportionately affects vulnerable populations, including elderly citizens, low-income communities, and small businesses. The landscape is shifting dramatically in 2024, with enforcement actions becoming a daily reality for all businesses. The recent cases of Starling and Metro Bank signal a concerning trend: tier 2 firms, often perceived to have less robust controls, are emerging as prime targets for sophisticated criminal enterprises. This poses a particular threat to their customers, who often choose these institutions for their accessibility and community focus.” “Success in this evolving battlefield is not just about technological/AI solutions. It requires rapid skill acquisition, holistic team development, constant agility and strategic succession planning. However, the foundation lies in having the right infrastructure that cultivates a risk management mindset, adaptability to change and an ability to establish a trusted partnership with the business. At FDM, through relentless dedication, we’ve established Skills Lab – not just a concept, but a proven, viable solution that stands unique in the market.”
NEWS Azets Expands Debt Advisory Services to Meet Growing UK Business Financing Demands UK top 10 accountancy and advisory firm Azets has signalled service-line growth with the promotion of Mark Barrie to Head of Debt Advisory. His new role is in response to growing demand from businesses for specialist support in navigating complex funding challenges and tailored finance solutions. Mark, previously Funding & Strategic Partnership Director, will be assisting business owners and managers with new funding lines, working with intermediaries and mainstream and independent lenders. He said: “Many businesses need lifeblood finance to support cashflow. They have faced 16 years of constant curve-ball challenges since the global financial crash of 2008, including a flatlining economy, Brexit, the pandemic, the cost-of-living crisis, increased borrowing costs, reduced consumer spending and, from April, the hard-hitting increase in employer national insurance contributions. “Against this backdrop, there is clear need for strategic guidance and support regarding corporate finance options, risk management, efficiencies and restructuring as companies navigate these difficult times, with our debt advisory service able to unlock new opportunities and build business value. Mark, a Chartered Banker, leads a national team of seven, with four debt advisory directors covering regions in England, Wales and Scotland, two assistant managers and an administrative assistant, with plans to grow headcount on the back of demand. The debt advisory directors are Mark (South), Phil Empson (Scotland, Northeast and Yorkshire), Chris Briggs (North West, Central and West) and Martyn Freeman (Central and West). Nikki Stephenson is Assistant Manager supporting Phil and Chris, with Ellie Tombling in the same role for Mark and Martyn. Emma Chadwick is Compliance and Administrative Assistant. Part of Mark’s remit is advising small-to-medium size businesses with working capital, asset finance and property-related funding enquiries. Last year, in 2023, according to figures by the British Business Bank, £185 billion was lent by banks, including challenger and specialist lenders, to businesses in the UK, with £59.2 billion of that for smaller firms. Mark, who works out of Azets’ offices in London and Hertford, said: “We are also able to access funding lines through peer-to-peer platforms, private debt funds and invoice and asset-based finance. “Key to borrowing is the ability of each business to repay – lenders are cautious and expect robust planning and cashflow forecasting.” He joined Azets in June 2019 in the banking and finance team, having worked for more than 25 years in the financial services industry, advising companies on new strategic initiatives, growth and expansion, as well as raising new and additional funding. Sectors which Mark has worked in include manufacturing, wholesale, retail, recruitment, hospitality and property investment & development. Peter Gallanagh, Azets UK CEO, said: “The formation of our debt advisory team, led by Mark in a newly created role, meets the demands of businesses which are either growing or are experiencing trading problems. Azets continues to develop service lines which provide strategic support to our 93,000 clients. ”
6 | Wealth & Finance Q4 2024 Most Pioneering Fintech Business Leaders 2024 (Middle East): Ibrahim Darraz & Mohammad Al-Azzeh Boasting a global reach and flexible delivery models, Infinite Business Solutions is well-equipped to meet the demands of growing businesses around the world. In addition to having locations in Dubai and Amman, the company is well-represented by many partners and distributers internationally, available to serve the company’s extensive client base that spans heavily across the GCC region, Jordan, and various African countries such as Rwanda. Both Mr. Ibrahim Darraz and Mr. Mohammad Al-Azzeh spent extensive time in the fintech, IT, and business sectors before founding Infinite Business Solutions together in 2020. Mr. Darraz holds over 20 years of experience in the workforce, with 17 of them spent as the Managing Director and Managing Partner for many companies in the region. Before pioneering Infinite Business Solutions, Mr. Darraz was the Managing Director of KeyBS DMCC for almost a decade, the General Manager of WEH BSC, and Mobivision FZ-LLC for four years. As one of the team members who built the wages protection system that is applied all over the region, Mr. Darraz is a well-known fintech leader in his region. Over the last decade, Mr. Darraz’s focus has been on building the digital transformation of the front-end e-channels, such as Mobile, KIOSK, POS, and Web Portal, across the KSA and GCC areas, in addition to MENA and Africa. Prior to his arrival in Dubai, Mr. Darraz served as a co-founder and General Manager of APCA, a premier systems integrator company in Jordan that offered security systems, customer services, and queuing systems to some of the most prestigious enterprises in the kingdom. Mr. Al-Azzeh has had an equally illustrious career preceding the establishment of Infinite Business Solutions, having served almost ten years as Technology Director of KeyBS DMCC, and the CTO of WEH BSC for four years. A reputable fintech leader in his region, Mr. Al-Azzeh was part of the team building the technology behind the wages protection system, based on pre-paid card solutions and ATM networks in the UAE. For the last ten years, Mr. Al-Azzeh was focused on building a technology for end-to-end solutions for e-channel platforms in the KSA and GCC regions, as well as MENA and Africa. Before he came to Dubai, Mr. AlAzzeh served Solutions development for many companies across Jordan. Together, Mr. Darraz and Mr. Al-Azzeh aspired to combine their solid technology skills with the insights of a novel business model to solve a gap in the market. They both understood the financial sector’s pain points and were committed to introduce innovative solutions to the market. Thus, Infinite Business Solutions was born. “Infinite Business Solutions helps organisations with digital transformations by integrating digital technology into all areas of their business, fundamentally changing the way they operate and serve daily customers,” Mr. Darraz explains. “With a proficient in-house development team, Infinite Business Solutions ensures to provide each of its clients with a custom solution that is tailored to meet their specific needs and preferences.” The company streamlines the entire and connected solution by prioritising unparalleled consultation, development, integration, implementation, training, and support services. To date, Infinite Business Solutions has proudly developed and launched six products, all geared towards enhancing business operations and driving client satisfaction. Infinite Business Solutions is most distinguished for iKiosk, its custom kiosk hardware designs and software. The company takes pride in providing its clients with distinctive, functional, and attractive kiosks offered with outdoor, wall-mounted, floor standing, and counter-top designs. iKiosk is a complete self-service solution that includes hardware, software, and API integration. iVoucher is an EVD application system that expands the client’s voucher distribution network and manages the online process of credit top-up, card payment, and e-Vouchers, for example. The software improves operational efficiency and generates additional revenue by simplifying the process of prepaid recharge with a centralised control of information and real-time reports. iMobile allows clients to self-manage their mobile accounts and utilise services such as bill payments, mobile top-ups, and transferring credit. This application is compatible with al kinds of smartphones and tablets, meaning that not only is iMobile a convenient management system, but it is also accessible to many. The iWeb solution allows clients to electronically manage, control, and monitor terminals across numerous sites. The TMS within this solution provides clients with real-time visibility for all the connected devices, allowing for easier management. iWeb comes with several modules to meet the various requirements of modern businesses. Additionally, Infinite Business Solutions provides POS machines as a part of the fully integrated TMS, with iPOS designed for payments, eVouchers, KYC, top-ups, and more. Likewise, the company has developed and implemented iWallet, a wallet solution that serves as a mobile platform to facilitate online payments through applications and merchants via mobile wallets. The innovative solutions designed and launched by Infinite Business Solutions are a testament to the company’s ingenuity, and its commitment to simplifying processes for business owners and enhancing their growth. Through providing both business owners and their clients with systems and processes, Infinite Business Solutions is aiding businesses in attaining and retaining loyal clientele by delivering convenience, simplicity, and efficiency. The company is devoted to innovation, aiming to improve its products and processes through conducting continuous research and development. The team constantly searches for the latest security and safety measurements emerging in the industry, ensuring that Infinite Business Solutions remains at the forefront of new industry development. “The fintech industry is changing at a rapid pace, which motivates us to stay up to date,” Mr. Al-Azzeh tells us. “Infinite Business Solutions’ team never stops the R&D process. The team continuously pursues software Jun24524 Headquartered in Dubai, with a sales office in Amman, Infinite Business Solutions is a leading fintech company that offers technology solutions and value-added services to a variety of industries and business sectors across the globe. The company was founded in 2020 by Mr. Ibrahim Darraz and Mr. Mohammad Al-Azzeh, both of whom have been recognised in the FinTech Awards 2024. Below, we speak with Mr. Darraz to learn more about Infinite Business Solutions’ journey to success.
and hardware trends to learn cutting-edge technologies, and to be honest – at many times, Infinite Business Solutions has been the leader of technological development.” Infinite Business Solutions works to always exceed its clients’ expectations, giving them special attention and ensuring they feel listened to and supported. The company continually strives to provide the best quality of service and has separated its offered support into two categories – software support and hardware support. The company’s customer care team provides software support through its ticketing system, providing 24/7 services due to the nature of Infinite Business Solutions’ accounts. For hardware support, Infinite Business Solutions has partnered with skilled companies in different countries to provide support for its products. The support services remain under Infinite Business Solutions’ supervision at all times for quality control. This approach extends to the company’s internal culture, with Infinite Business Solutions working to foster a culture wherein its employees feel valued and empowered to produce their best work. Similarly, the company seeks out potential employees who will emulate its client-first approach, as a reflection of the high standards the Infinite Business Solutions sets for itself. “At Infinite Business Solutions, only qualified personnel are selected,” says Mr. Darraz. “Ones who understand the technology, culture, and the nature of Infinite Business Solutions accounts. Infinite Business Solutions personnel have excellent interpersonal and communication skills and are there to provide 24/7 support services. On the other hand, Infinite Business Solutions deals with employees as valued family members, who feel cared for, heard, and trusted.” Cultivating an exemplary team well-equipped to deliver optimal solutions is imperative to a business wanting to establish itself as an industry leader, which a feat that Infinite Business Solutions has undoubtedly achieved. Under the expert guidance of Mr. Darraz and Mr. Al-Azzeh, the company has soared to remarkable success and displays no signs of slowing down. Looking ahead, Mr. Darraz tells us that the company expects to complete various projects and sign new contracts by the year-end. Infinite Business Solutions intends to announce new products this year, in addition to new versions of current products in its line. “Since AI and Big Data Analytics are trendy nowadays in the fintech sector, we plan to integrate these powerful tools into our products in a way that benefits both the service provider and the end user,” Mr. AlAzzeh informs us. From their continuous pursuit of excellence to their combined wealth of knowledge in the field, it is certain that Mr. Darraz and Mr. Al-Azzeh are masters in the realm of fintech. With almost four decades of collective experience, the industry experts have worked tirelessly to hone their craft and develop innovative, effective, solutions and products that have taken the industry by storm. It is for this commitment that Mr. Darraz and Mr. AlAzzeh have been deservedly recognised as the Most Pioneering Fintech Business Leaders 2024. Contact: Ibrahim Darraz Company: Infinite Business Solutions Web Address: https://www.infinitebs.net/ Most Pioneering Fintech Business Leaders 2024 (Middle East): Ibrahim Darraz & Mohammad Al-Azzeh
8 | Wealth & Finance Q4 2024 Best Capital Markets Email Enhancement Company 2024 Essentially, it is the double meaning inherent in this phrase that lies at the core of Toronto’s Street Context, a company that knows winning is all about being in the right place at the right time, as well as having the right tools to drive the right conversations. This is why the real-time email insights that it provides – discussed further below – have swiftly given its clients an edge, allowing them to capitalize on the attention of their customers and convert it into revenue By making it fast and easy for senders to both distribute emails and understand exactly how they are engaged with and consumed by the recipient, Street Context has proven an invaluable resource for its users, a group spanning every asset class from sales and trading to research and investment banking. Whichever class a client falls into, the company’s team strives to work closely with users to ensure that Street Context, in all of its multi-award-winning glory, is the right email enhancement solution for their business and its unique needs. Enabling clients to achieve their intended high-value conversations much faster than even the closest competitor, a semi-annual impact survey conducted by the company revealed that more than 90% of its users saved at least two hours on average per week, with some even reporting having saved more than five hours weekly. Aside from this, seven out of ten users reported having between one and seven extra conversations with clients per week and an additional eight percent even feeding back that they had more than 15 additional conversations. From providing automatic contact updates to managing any email bounce backs, as well as monitoring delivery times and sending email notifications about high priority contact activities, Street Context ensures that all of the bases are covered for its clients. This unwavering commitment starts with perhaps the most important element of email delivery – ensuring an email goes into a client’s inbox and not their spam folder. This is achieved thanks to holistic protection from spam markers that effortlessly preserve one’s sending reputation. With Street Context users are able to send personalized, one to one emails to an unlimited number of contacts in seconds, not minutes with minimal workflow interruption to deliver the maximum value. As an extra level of customization, dynamic content (merge tags) are available to add a personal touch that can make a world of difference in the long run. It is defining elements such as this which lend themselves to the impressive statistic that most of Street Context’s new business comes from users switching firms and insisting on bringing Street Context with them. As a cloud-based network that operates safely and securely on Amazon Web Services (AWS), Street Context is able to host a series of network and production systems without a hitch. This means that all of a client’s data is entirely secure, something that is backed by regularly audited SOC 2 type 2 certification and a steadfast adherence to ISO 27001. A dedicated information security team is on staff full time to continually monitor and update security protocols to maintain the strictest security standards, a fact that reassures compliance departments at some of the biggest banks in the world. In the unlikely event that security questions arise that cannot be immediately answered, the Street Context InfoSec team will work with the firm’s compliance team extensively to see that any questions are quickly answered. On the back of this, the company is incredibly proud to be leading a world-wide email evolution, unlocking a global network for its clients to maximise in the process. Upholding this entire operation is a stellar workforce who have made it their mission to understand what users care about and help them find the best way to leverage the emails they’re already sending to gain actionable insights. By empowering their customers to elevate their communications, the team here are singlehandedly nurturing smarter conversations, more robust relationships, and better revenue generating opportunities for not only their clients, but their clients’ customers as well. As the only company focused on improving email for capital markets – where it is the biggest and most relied upon communication channel – Street Context has pioneered a game-changing solution that boasts industry-leading deliverability, efficient list management, and actionable engagement analytics, to name just a few of its standout features. Street Context promises minimal workflow disruption to users, allowing them to send and receive emails through their existing email tools while providing them back actionable, real-time insights. Street Context’s unique engagement insights are made further accessible by the fact that they are not only summarized in regularly scheduled emails but can be viewed either through the company’s own intuitive dashboards or integrated into a client’s CRM/business intelligence tool via API. By enabling users to see and use this data in a way that works for them, Street Context is taking a proactive approach towards client service, living its overarching ethos that sees clients and users of the platform placed firmly at the centre of everything that it does. Since their singular focus is on email enhancement for capital markets, the team here is wholly committed to assessing this from all angles. Until earlier this year, their sole focus has been building out a high value, user friendly solution for sell side firms, gaining over 5,000 users across over 20 countries, but they have recently introduced a new buy side product that promises to improve email for the buy side and connect both sides of the street in a way that has not been possible before. Both of these areas can leverage the company’s software to cut through the chaos usually associated with the world of email and instead focus on attaining the high-value conversations necessary for success. This is just one example of how Street Context enables its clients, all of whom already represent the best of the best, to consistently operate a cut above the norm. Jul24690 When it comes to email intelligence, no company has its finger on the pulse quite like Canada’s Street Context. In today’s digital world, email is the most used communication tool in the capital markets and beyond. This is an irrefutable truth. However, the process is usually far from perfect, with countless hours lost to the administrative tasks involved with sending, tracking, and following up on emails over the course of the week. Thanks to a platform that is designed to enrich, rather than replace, the user’s pre-existing email system, Street Context offers an email enhancement solution that is easy to use, simple to deploy, and already leveraged by more than 150 firms in over 20 countries worldwide. “On the Street, connections are everything. ”
For sell-side firms, Street Context’s robust platform gives them the seamless email capabilities necessary to build lasting relationships, make more deals, and ultimately affords them the recognition that they deserve, all thanks to its unique and industry-leading email intelligence capabilities. The company’s newest release, Street Context for Broker Relations, currently in a closed beta with select development partners – including some of the largest hedge funds in the world – allows portfolio managers and broker relations professionals to optimise their productivity by quickly and easily distributing change requests and notifications to the companies and the people that they want to build relationships with and receive information from. The next year will see a broader release of a similar, more refined version of the product. In time, these two products will connect to build a thriving ecosystem for the capital markets, which again will contribute to the company’s aim of making email truly work for its clients. With more than 50,000 distribution lists, over 1.4 million contacts in its network, and in excess of 70% of all platform users logging in every day, one does not have to look very far to see that Street Context’s platform is truly something special. A Net Promoter Score (NPS) of 70 is yet another indication of the company’s ongoing positive contributions in this space. So as to foster further engagement with, and provide more value to, its client base, the company’s aforementioned and much-quoted CEO, Blair Livingston, also publishes regular thought pieces that can be subscribed to here. These engaging articles primarily cover industry trends, hot topics, and value-added insights, and there is a vast back catalogue available for those interested in learning more. New pieces are being written and added to this hub regularly, meaning that there has never been a better time to subscribe and gain access to the thoughts and opinions of one of the sector’s best and brightest minds. To briefly conclude, in a sphere where the problem is often an overload of information, Street Context’s solution succeeds by empowering its clients to cut through all of the unnecessary noise like a hot knife through butter. After all, this is an environment where deals are both won and lost in an instant, but where CRM and other such email marketing tools frustratingly do not offer the speed and reliability that is necessary to get the job done right. With over 12 years of experience leveraged in order to go above and beyond for its clients, the possibilities are endless thanks to this groundbreaking software. Those wishing to know more are invited to follow the link below and visit the company’s website, where they can read more about the company, the product, and the value for each use case, and even request a demo to see for themselves what this valuable email enhancement tool can do for them. Contact: [email protected] Company: Street Context Web Address: https://streetcontext.com/ Best Capital Markets Email Enhancement Company 2024
Financial Compliance & Data Processing Expert of the Year 2024: Nicole Yuen (Hong Kong) & Wealth & Finance Sustainability Excellence Award 2024 Ethical finance has become more prominent in recent years, driven by a growing movement of investors becoming more aware of the importance of sustainable practices that promote ESG. The finance sector is shifting towards sustainability, fairness, social responsibility, and investors now have more choice and opportunities to make positive investments that drive change. We speak with Nicole Yuen below, Business Director of ProTop Financial Press, a Hong Kong-based financial services company championing the financial sector’s ethical revolution. Across the entire industry, ethical finance is becoming increasingly popular for a myriad of reasons. More individuals are aware of social and environmental issues, such as climate change, human rights, and income inequality. This rising awareness is driving the desire to invest their money in ways that align with their values, a demand that extends to investment choices as more investors wish for their money to have a positive impact on society and the environment. The shift has also been promoted by regulatory changes, as governments and regulatory bodies are introducing rules to encourage sustainable investment. Certain funds, such as pension funds for example, are required by the UK government to disclose the ways in which ESG - or environmental, social, and governance - factors are being considered in investment decisions. This has placed an added pressure on investors to consider ESG, which has led to a heavier emphasis on ethical investing across the sector. Furthermore, industry studies have shown that companies demonstrating strong ESG practices tend to perform better in the long-run. This is because these companies demonstrate that they are better equipped to innovate, adapt to changing market conditions, and build sustainable business models. In turn, investors view ethical investing as not only a way to make positive contributions to the world, but also as a smart financial strategy. Making waves in the world of ethical finance, ProTop Financial Press was founded in 2016 by a team of industry veterans seeking to unite the most skilled and experienced professionals in the sector to meet the varying needs of clientele. The company specialises in handling complex and critical documents for a diverse client base, such as listed companies, financial institutions, legal entities, and government bodies. On a mission to deliver a wide range of highly secure financial information technology services, ProTop Financial Press operates around the clock to digitalise its clients’ confidential documents, such as financial reports, offering circulars, bonds, and investment products. Nicole Yuen is the Co-Founder and Business Director of ProTop Financial Press, a seasoned business professional boasting vast expertise in business development, strategic planning, and client relationship management. Nicole entered the industry in 2000 as a Management Trainee for Standard Chartered Bank and has spent more than two decades gaining invaluable experience and honing her remarkable skillset. As Co-Founder of ProTop Financial Press, Nicole steers the high-performing financial services business within the competitive landscape of finpress. She has effectively captured a significant market share in Hong Kong’s derivatives and structured investment products sector, demonstrating a collective commitment to excellence and innovation. An avid believer in sustainability, Nicole is committed to promoting environmentally responsible practices, not just in the financial sphere but across all of ProTop Financial Press’s operations. “I believe in leading by example,” she tells us, “so I am actively working on reducing our carbon footprint and implementing environmentally friendly practices within the organisation.” This philosophy is directly reflected in the work undertaken by ProTop Financial Press; the company strives to integrate ethical principles into its daily operations, extending beyond the traditional profit-driven motives. Ultimately, ProTop Financial Press aims to align financial activities with high integrity, ensuring that the financial decisions made by institutions, corporations, and individuals yield positive outcomes for society as a whole. “Ethical finance embodies our commitment to integrity, accuracy, and positive contributions to society,” says Nicole. “It serves as a foundation for corporate finance, legal entities, listed companies, and investors who prioritise sustainability and ethical integrity in their financial transactions.” ProTop Financial Press integrates its commitment to ESG into its daily operations and digitalised solutions. The company offers services that streamline documentation processes, financial document exposures, and Protop Financial Press Limited
11 | Wealth & Finance Q4 2024 that will better educate its clients on the benefits of its stellar solutions and the important role that sustainability plays in the realm of finance. Overall, 2024 has been a year of incredible innovation and adaption as ProTop Financial Press has worked relentlessly to meet the evolving needs of its clientele whilst reinforcing its commitment to integrity and social responsibility. The future is prosperous for the company, as it endeavours to take 2025 by storm with its unparalleled dedication to innovation, client-centricity, and ethical finance. Contact: Nicole Yuen Web Address: https://www.protop.com.hk/ e-communications. What’s more, ProTop Financial Press’s tools also facilitate the issuance of green bonds and support impact investing initiatives, helping clients to finance projects that deliver measurable social or environmental benefits. As a professional financial services provider, ProTop Financial Press recognises the importance of upholding stringent confidentiality and ensuring secure communications, both internally and externally. The company manages sensitive, unpublished, and confidential data on a daily basis and requires all staff to refrain from disclosing or using such information for personal gain or external purposes. This is a shining example of how ProTop Financial Press incorporates all aspects of ethical finance into its practices, upholding its commitment to social responsibility at all levels. In addition to promoting ethical finance, ProTop Financial Press also understands the vital role that client satisfaction plays in the sustainability of a business. Nicole cites several areas as being particularly important, with the first being ensuring that technology is user-friendly as clients need intuitive tools that simplify the processes. Secondly, Nicole tells us that maintaining robust data security is crucial in protecting sensitive financial information. Clients want to know that they can trust ProTop Financial Press to manage and protect their information, an understanding that leads to the development of trusting, long-lasting relationships. Finally, we learn that offering personalised support is crucial to client-centric services, as it enables the company to address the unique needs of each client, further fostering stronger relationships. The team at ProTop Financial Press prioritises clear communication and responsiveness in its client relationships, actively seeking feedback to improve its services and providing regular check-ins and training sessions to make clients feel supported and empowered. “I see my relationship with clients as a partnership, where their insights and feedback play a vital role in shaping our services,” Nicole explains. “This collaborative approach ensures that we are not only meeting their needs, but also anticipating future challenges in the ethical finance landscape.” Nicole has successfully emulated this approach within ProTop Financial Press’s internal culture, which is centred around collaboration and innovation. The company encourages its team members to share ideas and solutions, fostering an environment in which creativity thrives. Not only does this collaborative spirit enhance the company’s service offerings, but also ensures that the team remains engaged and motivated in their roles. “Ultimately, a positive internal culture translates into better service for our clients, as our team is passionate about what they do,” Nicole states. A motivated, passionate team is exactly what ProTop Financial Press needs, as the company envisions a year of growth and innovation within the field of documentation digitalisation for ethical finance. Nicole tells us that the company plans to enhance its existing services by integrating advanced technologies to streamline processes and improve data accuracy, such as artificial intelligence and machine learning. This enhancement will allow its clients to access more insightful analytics that can guide their sustainable investment decisions and make more positive contributions. Additionally, ProTop plans to expand its partnerships with key stakeholders in the industry, including NGOs and industry leaders, in order to foster greater collaboration in promoting ethical finance. The company is also seeking to launch new training programmes and resources
Best Financial Services Law Firm 2024 - UK & Financial Services Litigator of the Year 2024 (UK): Jenny Morrissey Founded in 2019, commercial litigation and dispute resolution law firm Harcus Parker Limited has quickly ascended the ranks to become one of the UK’s premier group claim and class-action specialists. Representing clients in some of the country’s largest and most complex cases, this is a firm so confident in its abilities that it works entirely at its own risk when it believes the case is right. Aiding the firm across these endeavours are the tenured links shared with funding and insurance markets, something secured through relationships which have been continuously strengthened over the years. At its core, London’s Harcus Parker is a social impact law firm specialising in commercial litigation and enabling access to justice. Ushering in widespread social change whilst also boosting awareness of the legal rights of those who have been wronged, the majority of cases taken on by Harcus Parker address critical failings in such areas as regulatory oversight and corporate governance, tackle wider societal injustice like the gender pay gap and major financial scandals, or explore conflicts of interest, fraud, and even greenwashing. Harcus Parker secures positive outcomes for these impacted individuals by bringing together those with similar claims, people whose sole concerns would otherwise be dismissed as a result of the hurdles involved in one person going up against a wellresourced opposition. Through this process of collective action, those seeking a claim are afforded endless benefits, from reduced costs through to the sharing of the best strategies, as well as access to the funding and insurance markets thanks to the firm’s partnerships, as mentioned above. The result, quite simply, is that litigation can be carried out on an even playing field, giving claimants a much greater chance of success. Additionally, further aiding clients in their cause is the proactive approach employed by the firm when it comes to the investigation of misconduct allegations, as it seeks to unearth those which directly impact a larger group, again offering a claimant the best possible opportunity to assert their rights, cement their information, and have a greater chance of righting the wrong committed against them. Just some of the cases being worked on at present include the Tesco Equal Pay Action campaign, which is seeking to rectify the wage disparity for female shopfloor and warehouse workers in roles usually dominated by men; the Mortgage Prisoner Litigation, which is pursuing justice for those homeowners trapped in high-interest mortgages; as well as the Energy Litigation, which is challenging the undisclosed commissions that several energy companies have paid to brokers, inflating a number of energy bills in the process. Ultimately, this is but a taste of the work carried out by Harcus Parker, but it highlights that the cases it takes on – and puts its neck on the line for – are important issues which reverberate across wider society. It is thus an important mission that the firm is on, and the potential to change discourses around certain topics and nurture a better future for us all is something that the firm keeps in the back of its mind whenever it assesses a new case, which it always does openly, honestly, and in highly responsive fashion. Although the firm may technically only have five years of experience to its name, Harcus Parker is far from a plucky upstart trying to find its feet in a dynamic landscape. This is because the firm was established by renowned legal professional Damon Parker, whose reputation was already solidified as a result of the highly successful group and commercial litigation practice he had helped to build – Harcus Sinclair LLP. The lasting impact of Harcus Sinclair cannot be overstated, with the firm acting in many high-profile UK group actions. Harcus Sinclair’s crowning moment would come in the form of it securing the first ever group litigation order (GLO) in the financial services realm, this on the back of the rollout of the GLO regime for managing large claimant groups back in the early 2000s, which allowed for the use of litigation funding so that claimants may finally pursue their claims. Bringing in the UK’s first and one of its biggest securities group actions, this firm’s dedication opened the door for other like-minded actions which have been rigorously pursued in the years since. In search of a refresh, Damon, along with a team of 12 equally dedicated founding partners, created Harcus Parker more than five years ago, in the spring of 2019. One such member was Jenny Morrissey, who had been at Harcus Sinclair for more than five years before joining Damon and co. on the next step of their adventure. As reflected in the specific award she has had bestowed upon her, Jenny is an instrumental piece of this puzzle and has allowed both of these firms to reach new heights and uphold the highest standards. Beginning her career as a researcher in Toronto, Canada, Jenny entered the legal profession through a string of opportunities, winding up as a trainee solicitor at Maurice Turnor Gardner LLP in 2012. Joining Harcus Sinclar two years later, she has not looked back since, climbing the ladder to become a senior associate at the former firm before joining the group of founding partners responsible for setting the wheels in motion of Harcus Parker. Today, Jenny’s focus lies in financial services litigation, insolvency disputes, and securities actions. Representing private and corporate clients alike, Jenny’s experience in the field is extensive and has seen her work with both domestic and international investment managers and advisors. A purveyor of justice, one particular highlight for Jenny saw her serve with Damon as a key member of the legal team overseeing the Lloyds-HBOS litigation. Essentially, this claim saw some 6,000 previous Lloyds TSB shareholders challenge the directors of the organisation for breaching duties relating Harcus Parker Limited
13 | Wealth & Finance Q4 2024 back to their 2009 acquisition of HBOS. This is far from the only example of Jenny’s mastery, and another notable case saw her act on behalf of claimant investment companies during the dispute they entered into against the international investment bank UBS. In short, the claim stemmed from UBS’ alleged misstatements and negligent advice pertaining to the leveraged acquisition of a security on the Hong Kong stock exchange, as well as the subsequent apparent failure to adequately discharge duties owed when the power of sale was executed over said security. Across both of these cases, as well as the many others she has found success in, Jenny’s famed litigation-arbitration practice comes into play, a proven combination which serves as the foundation for the positive outcomes her clients continue to receive. Following on from this, client feedback about Jenny focuses on her knowledge and professionalism, with one previous client describing her as “highly resourceful and focused”, “extremely thoughtful in her approach to litigation”, and as having “impressive attention to detail.” With these characteristics to boot, it is no surprise that, outside of Harcus Parker, Jenny serves as an advisory member for the Law Society’s Dispute Resolution Committee and can often be found speaking at events or contributing to discussions about industry policies. Beyond this, She also proudly sits on the Therium Access Advisory Committee, which oversees the creation of case and project grants facilitating access to justice, as well as holding a coveted spot in the London Solicitors Litigation Association (LSLA). As one can see, Jenny Morrissey has spent more than a decade excelling with Damon and the team, a tenure in which she has proven herself to be an invaluable asset to the company and the wider litigation sphere, earning her the title of Financial Services Litigator of the Year 2024 (UK). This is not to overlook the rest of Harcus Parker’s team however, all of whom have remained entirely committed since the company’s launch. Such consistency has even led to its workforce today being more than 50 strong, underpinning this constant evolution. Existing at the forefront of commercial litigation and dispute resolution, Harcus Parker Limited is at a point where it is today able to encompass the entire spectrum of services related to this field, ranging from cyber/data privacy clients to those with disputes in the realm of media, information, and communications. As the firm continues to adapt and stay one step ahead of the curve when it comes to this ever-evolving sector, we recognise it with a well-deserved industry award and wish it all the best for 2025 and beyond. Contact: Gary Neal Company: Harcus Parker Limited Web Address: https://harcusparker.co.uk/
14 | Wealth & Finance Q4 2024 Most Trusted Investment Solutions Advisory Firm 2024 - Nigeria Based in Nigeria, Blackpace Group is a well-established firm boasting significant investments and projects across Africa. Whilst BlackPace Group is primarily located in Lagos, the firm has additional offices in Paris, France, as well as a liaison in Geneva, Switzerland. The firm is wellpositioned in key sectors of the African economy, lending its expertise and outstanding offerings to numerous fields. BlackPace Group was founded by Olusegun Paul Andrew, who also serves as the Executive Chairman of the firm. Olusegun Paul has more than 25 years of consulting practice in Investment Management, Private Wealth Management, and Global Strategy, and has led world class consortium for oil and gas deals in Nigeria valued at $2 billion as an investment strategist. For more than two decades, Olusegun Paul has been at the forefront of supporting developmental initiatives and directing investments to Africa. With a successful business and consulting practice, he has initiated, managed, and directed world-class projects for key global institutions, governments, and individuals. Leveraging his invaluable gained experiences and in-depth understanding of market dynamics, Olusegun Paul has driven BlackPace Group to elevated success. His endeavours, driven by his entrepreneurial spirit, have significantly supported Africa’s economic development and growth. One of the ways in which BlackPace Group supports the African economy is through several agricultural investments, primarily focused on the potato value chain. Cros Agro Allied, a BlackPace Group company, aims to boost the economic and social value of the agribusiness sphere in Nigeria. The company focuses on the potato value chain, oil palm plantation, ginger, banana, coffee, soya, and beans, boasting more than 3,000 hectares of which 50% is already cultivated. Ultimately, Cros Agro Allied strives to change the agribusiness landscape of Africa and support the socio-economic development of the African population. Cros Agro Allied is in partnership with Plateau State Government under a Joint Development initiative. BlackPace Group owns 51% and Plateau State Government owns 49% in the partnership that provides BlackPace Group access to the growing potato economy in Nigeria, valued at over $3.5 billion. The Joint Development programme will process 60,000 tons of potatoes for local consumption and export through its processing facility, to be located in Jos. BlackPace Group has also contributed to the potato chain in Rwanda, after signing a multimillion-dollar deal with the Rwandan government to revamp and develop the country’s potato industry and position Rwanda as a key producer and exporter of potato products. Over five years, the firm plans to build two processing plants with the goal of producing ten million tonnes of potatoes by the fifth year. One plant will be for frozen French fries in Kigali, and the other focused on potato flakes and crisps in Nyabihu. Further supporting development across Africa, BlackPace Group is involved in several energy and infrastructure projects across Africa. The energy sector within Africa is increasingly competitive, with many global energy companies seeking to enter the market. African governments are implementing reforms and policies to create fair competition, however current global events in North Africa, the Middle East, and the Eurozone pose challenges to the growth of Africa’s energy economy, particularly its hydrocarbon sector. In order to succeed, the sector must diversify its energy sources and foster a well-nurtured, competitive environment. In response to this dynamic, BlackPace Group has focused on developing infrastructure that supports economic growth and development, including projects in transportation and utilities. The firm is active in Africa’s energy sector, working on its diversification and creating a competitive environment to support its growth. By investing in sustainable and efficient energy and infrastructure solutions, BlackPace Group is effectively contributing towards the socio-economic development of the region. Not only does BlackPace Group invest in agriculture, energy, and infrastructure to support socio-economic development, but the firm is also a leader in art asset management. The demand for art collection and the investment that goes with it is increasing, with sales having soared to over $85 billion in the last decade. The art market is now dominated by High Net Worth Individuals and Ultra High Net Worth Individuals, collecting pieces for both personal admiration and for investment. Many, now recognising the value of the sector, are now employing the services of experienced wealth advisors with core knowledge in art as an investment to assist with building collections. BlackPace Group’s Art Advisory Desk is well-versed in the sphere of art collection, preservation, and optimisation. It offers expert guidance and wealth advisory services for art collections, helping clients to invest in, manage, and optimise their art and collectables. The desk ensures that clients can make informed decisions and maximise the value of their collections by providing services related to the acquisition, preservation, and enhancement of art assets. Across all of its endeavours, BlackPace Group has demonstrated an unwavering commitment to driving human capital development, focusing on improving skills and education to support Africa’s socio-economic growth. By investing in the various sectors of agriculture, energy and infrastructure, and art asset management, the firm has created numerous new job opportunities, enhancing both the economy and quality of life for its local communities. The potato-chain projects being undertaken in Nigeria and Rwanda are shining examples of this work, which not only boost agricultural productivity but also provide training and employment for many local workers. Investing in these areas enables BlackPace Group to build a more skilled and capable workforce, which in turn contributes significantly to the overall development of the regions. Since its inception, BlackPace Group has remained at the very cuttingedge of innovative investment, continually seeking out new opportunities and avenues to explore. The firm has demonstrated a firm dedication to developing the socio-economic growth of various countries across Africa and has made great progress in fulfilling this mission. For its tireless pursuit of growth, and significant contributions to numerous sectors, BlackPace Group has been recognised as the Most Trusted Investment Solutions Advisory Firm 2024 – Nigeria. Contact: O’Paul Andrew Company: Blackpace Web Address: https://www.blackpace.net/ Sep24229 BlackPace Group is a diversified enterprise management, investment solutions, and an advisory firm with a focus on Africa. A leading multidisciplinary firm, BlackPace Group delivers innovative investment solutions across various sectors, including natural resources, agriculture, technology, infrastructure, human capital development, and the creative sectors. As BlackPace Group is named in the Fund Awards 2024, we take a closer look at the firm’s outstanding offerings.
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