Forsters secures a treble win at the STEP Private Client Awards 2024

Forsters were recognised as the winners of three awards at the prestigious STEP Private Client Awards 2024, showcasing the firm’s Private Wealth team as a global leader, particularly in family governance and digital assets. The team was also shortlisted for Employer of the Year, Family Business Advisory Practice of the Year and International Legal Team of the Year (large firm).

The judges commended Forsters in each of the three winning categories:

Digital Assets Team of the Year

Forsters has a very established and fast-growing practice on digital assets and has gone from strength-to-strength handling complex client issues, while continuing to deepen its expertise in the area. Not only does it offer trailblazing legal advice on complex, novel international issues, it has shown dedication to development of skills and knowledge across the industry.

In a very competitive category, Forsters excels across all areas, with outstanding technical expertise and innovative initiatives, particularly in family governance and digital assets. It handles complex multi-jurisdictional matters with a focus on both technical and human aspects of wealth. Its Skills Academy and pro bono work also set it apart.

Trusted Advisor of the Year – Nicholas Jacobs

The judges commented that Nicholas Jacobs is in a class of his own. He is the foremost expert on family governance for Asian families and has made it his purpose to understand how cultural norms around communication and respect impact those families. This deep commitment has resulted in meaningful impact to his clients.

The STEP Private Client Awards took place on 19 September 2024. The awards are regarded as the hallmark of quality within the industry, recognising and celebrating excellence among private client professionals. Attracting entries from across the globe, submissions are judged rigorously by an independent panel of experts made up of internationally renowned private client practitioners.

Lessons from the Olympics: creating lasting value at pace. Helen Streeton writes for EG

With the Paralympics now finished, attention turns to what the future holds for Paris’s Olympic Village and its legacy for Parisians.

The newly developed Olympic Village is to be transformed into a combination of homes, leisure, commercial, community and education facilities. The homes will be a mix of social and open-market homes, with the design of the apartment buildings highlighting how good affordable housing can be.

Similar to the plans for Paris, the London 2012 Olympics kick-started a huge regeneration project in east London, transforming Stratford and Hackney Wick through £400m of investment into the area. This delivered economic growth which exceeded pre-Games projections three-fold, with almost 40% growth in local employment and thousands of homes (East Village, the former Athletes’ Village, has more than 3,284 homes and an estimated 6,500 people live there). Legacy was at the forefront of the vision for the London Olympics – a goal it has seemingly successfully achieved.

The French government also has ambitious plans to create four new Metro lines for greater Paris through the Grand Paris Express project, which will focus on connecting disadvantaged areas and streamlining commutes for thousands of people. Not only does this new infrastructure reduce travel times, but ultimately provides access to employment opportunities and amenities that are currently out of reach for many in Paris. It is said there will be 11 times more job offers to people within a 45-mile radius of the new hub than now, showing the true value added through improvement to infrastructure and travel.

Need for speed

The connectivity to Stratford was key to unlocking the East Village. Stratford International opened in 2009, connecting the area to King’s Cross in seven minutes, followed by the Elizabeth Line in 2022. Sustainable travel connections need to underpin any major regeneration, alongside employment opportunities and affordable housing.

Hosting the Olympics is a remarkable opportunity and can create meaningful value for the surrounding community and wider country, but it cannot continue to be the case that we need to be on the world stage to release necessary funding and deliver projects successfully and at speed.

Government funding was a key element of ensuring the London Games were delivered by the Olympic Delivery Authority and demonstrates that it is possible to deliver government-funded housing at speed when there is a need. With the Athletes’ Village then sold on to the private sector, this shows how effective public-private partnerships can be.

In many ways, the transformational ideas of the Paris and London games align with the Labour government’s focus on “new towns”. A few weeks ago the government announced its New Towns Taskforce, a key role of which will be to advise ministers on appropriate locations for significant housing growth. A final shortlist will be coming down the track within 12 months.

We can expect a mix of new standalone communities built on “greenfield” and a number of “urban extensions”, presumably to optimise transport links and other important infrastructure. The unifying principle is that they will contain at least 10,000 homes. That is a large metropolis, which will throw up additional demand for public services – schools, medical facilities, green spaces and so on. It isn’t clear where this land will come from – exercise of CPO powers is slow and public-private partnerships may be a part of the answer for land assembly.

Lessons from the past

As a new programme of garden cities and new towns looks increasingly likely, it is surely the case that there is much to be learn from the post-war new towns programme – the most ambitious large-scale project of its type in the UK. Between 1946 and 1970, 32new towns were delivered across the UK. Brought forward by development corporations, which had a wide range of borrowing, planning and strategic powers, the towns provided homes and jobs, while aiming to create socially balanced communities. Key to the successful delivery of these new towns was the powers the development corporations possessed, similar to those that the Ebbsfleet Development Corporation has for the delivery of Ebbsfleet Garden City.

The New Towns Taskforce is in good hands with Sir Michael Lyons, who chaired the 2014 Lyons Housing Review, at the helm. It will be interesting to see how the plans develop – what use can be made of the existing legislation and what lessons can be drawn from the building of the previous new towns – to deliver much-needed housing. Much like the Olympic villages of London and Paris, the earliest new towns were delivered quickly – Stevenage in 1946 and Harlow by 1947. Let’s hope we can take some lessons from the Olympics.

Published in EG on 10 September 2024, you can also access the article here.

Forsters celebrates the recognition of two Partners in the 2024 eprivateclient NextGen Leaders list

We are delighted to announce that two of our Partners, George Mitchell and Dickon Ceadel, have been recognised in the 2024 eprivateclient NextGen Leaders list. This definitive annual list highlights the leading young private client practitioners in the UK and UK Crown Dependencies, showcasing their exceptional talent and dedication to the field.

In light of George and Dickon’s recognition in the list, we got some useful insights into their career journeys to learn more about the pivotal moments that inspired their specialisms, how Forsters has supported their growth, and the advice they would give to their trainee selves. Their stories provide a glimpse into the dedication and passion that drive their success and offer inspiration to aspiring private client practitioners.

What was the pivotal moment that inspired you to choose your specialism?

George

Initially a corporate tax lawyer, I was inspired to become a private wealth lawyer about a decade ago when I helped an entrepreneur navigate a complex tax issue. I found the experience rewarding, as it allowed me to not only solve legal problems but to be part of the client’s personal and business journey. Seeing the impact my advice had on their success sparked a passion for developing long-term relationships with clients and supporting them through significant milestones, as well as helping them to build an enduring legacy, whether in a business or in a family.

Dickon

I don’t think there was a specific moment as such. When I started my training contract, I wanted to be a private client lawyer and when in that seat I really enjoyed working with individuals and the problem-solving side of the work. I then had a chance to do a family seat and found that the work ticked those same boxes, but was even more varied – involving strategic and advisory work but also fast-paced litigation and complex negotiations, and helping support people thorough what are often difficult periods of their lives. I ended up doing two family seats and qualifying as a family lawyer and haven’t looked back since.

How has Forsters supported your growth?

George

Forsters has been instrumental in my professional growth over the past decade, from my days as an associate to becoming a partner. Forsters’ entrepreneurial spirit, which has remained a key part of its culture since its founding about 25 years ago, has empowered me to develop my broad practice. The firm’s dynamic environment and supportive culture, combined with Forsters’ reputation for excellence in private wealth law, has enabled me to grow both personally and professionally.

Dickon

I joined Forsters in 2017 as a 2.5 years PQE solicitor (having applied for a training contract many years prior but not making it past the interview stage…), became a Senior Associate in 2019 and was made up to Partner in 2023. Forsters has been an amazing environment in which to develop as a lawyer and grow my practice. Throughout my time at the firm, I have been exposed to high quality work and afforded an increasing amount of client contact and responsibility. The firm has always been extremely supportive with, and encouraging of, business and personal development initiatives.

What is one piece of advice you would give to your trainee self?

George

Enjoy making friendships in your intake, as they will support you through work and beyond.

Dickon

Polish your shoes more regularly.