salli | stonehage affluent london living index - Cubitt Consulting

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APPENDIX 1 (CONTINUED) COMPONENT ITEMS OF SALLI INDEX Items Notes 2002 (£) 2006 (£) 2007 (£) Chauffeur First Class, Brunel (S Class Mercedes) Maintenance of 4 Polo Ponies 1 kg Beluga Caviar Housekeeper, Beauchamp 2 weeks at Hotel Villa del Sol, Mexico Half an hour Dental checkup, Harley Street 1 hour GP’s consultation, Dr. Daniel’s Medical Centre, Harley Street Assumes individual requires a chauffeur 3 hours a day, 5 days per week and 9 months of the year Maintenance includes Polo club membership, Polo professional and tournament entry, stable rental, winter field livery, shavings, livery, teeth, biting, vaccinations and shoeing Kings Fine Food, prices for 2002 not RRP since firm was not set up in 2002 - approx from supplier Assumes that a housekeeper is required 7 hours a day, 5 days a week and 12 months of the year From Conde Nast Johansson; price reflect the highest tariff for a suite in each year (high season). Converted using exchange rate at the time Mr Phil Davies, 112 Harley Street - frequency is based on a family of 4, with each family member going to the dentist every 6 months Extended 1 hour consultation - frequency is based on a family of 4, with each family member going to the GP an average of 1.5 times every year 18 SALLI | STONEHAGE AFFLUENT LONDON LIVING INDEX Frequency (purchased per year) 40.00 55.00 55.00 540 34,970.00 48,844.00 51,582.00 1 900.00 1,800.00 2,300.00 1 9.00 10.00 10.00 1820 10,854.87 10,560.34 10,579.35 1 35.00 45.00 50.00 8 145.00 165.00 170.00 6
APPENDIX II AbOUT STONEHAGE Overview The Stonehage Group provides international families with wealth management and fiduciary services. The group has over $24bn of assets under administration and has offices in the United Kingdom, Switzerland, Jersey, Israel and South Africa. Stonehage is owned by management and staff, is independent and intensely relationship driven. Client objectives are likely to focus on developing, maintaining and effectively controlling family wealth across generations. The Stonehage Group ensures that such governance and legal structures exist as to best meet investment, tax and wealth transfer objectives. The Group also advises families on philanthropic arrangements. Private Client and Trust Division: The core of the Stonehage business, providing ultra high net worth individuals and families with value added advice; including succession planning, governance, trust legal and structuring advice and administration services. Advisory Division: Providing independent advice to ultra high net worth individuals on investment/asset allocation (Stonehage Investment Partners) and advising on property investment (Stonehage Property Partners). TriAlpha: Asset management division, offering range of multi-manager funds and boutique funds. Assets under management are currently in the region of $2bn. Company History Stonehage was established in 1976 in London to provide wealthy clients with the means of ensuring security to their capital. In 1997 Stonehage sold a majority stake in the business to ABSA Bank. In 2005, the Group returned to being management controlled. The group now employs over 275 staff and manages the affairs of over 1,000 client families. SALLI Project - Key Executives Giuseppe Ciucci, CEO Giuseppe has been Chief Executive Officer of the Stonehage Group since 1998. He joined Stonehage in 1991, having previously worked at Deloitte & Touche. He is a qualified lawyer and Chartered Accountant, holding a Bachelor of Commerce and LLB degree from the University of Stellenbosch. Robby Hilkowitz, Head of Group Marketing & Business Development Robby is an Executive Director of the Stonehage Group, where he is Head of Group Marketing & Business Development. Robby joined Stonehage in 1997 after gaining extensive experience in world markets at a private forex and derivatives trading house in Tel Aviv. Robby holds a degree in Finance and Mathematics from the University of New South Wales in Sydney, Australia. David Sable, CEO, TriAlpha David is the CEO of the TriAlpha Group. He is the portfolio manager of the Anquiro Fund Limited, a hedge fund he established in partnership with TriAlpha prior to joining the group and is a member of the Advisory Committee of the Stonehage Westcity Property Fund. David obtained an MBA from Boston University, Massachusetts, a Bachelor of Commerce (Honours) in Economics from the University of Cape Town and a Bachelor of Commerce from the University of the Witwatersrand. Ronnie Armist, Executive Director Ronnie is an Executive Director of the Stonehage Group where he is the Head of the Advisory Unit which incorporates Stonehage Investment Partners and Stonehage Property Partners. Ronnie joined the Stonehage Group in 2006 after working at Lombard Odier for nearly 20 years where he was Chief Executive of the London office and co-head of the Group’s Institutional Client Unit. More recently, Ronnie worked as a Director of IPGL Limited controlled by Michael Spencer, CEO of the ICAP Group. Ronnie studied Bachelor of Business Science (Hons) at the University of Cape Town and also completed a BCom (Hons) degree. He qualified as a Chartered Accountant in 1980. Ronnie is based in our London Office. Andrew Rodger, Director Andrew is a Director in the Private Client Division. Andrew joined the Stonehage Group in 2006 after working for thirteen years as a practising Barrister in London. Andrew qualified as a Barrister in 1993 after graduating with honours from the School of Law, King’s College University of London. Andrew was admitted to the New York Bar in 2003 and accredited as a CEDR mediator in 2004. Andrew is based in our London office. 19
Page 1 and 2: SALLI | STONEHAGE AFFLUENT LONDON L
Page 3 and 4: 1. EXECUTIVE SUMMARY SALLI, The Sto
Page 5 and 6: A Laspeyres index of this type can
Page 7 and 8: The CPI includes a number of items
Page 9 and 10: Table 3: Price level increases per
Page 11 and 12: However, in terms of the American D
Page 13 and 14: On the other hand, the two tables b
Page 15 and 16: APPENDIX 1 COMPONENT ITEMS OF SALLI
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