Offshore financial centres, private wealth management and the global super rich

Activity: Talk or presentation typesPublic talk, debate, discussion

Description

Post-2008, the role of the global super-rich's ‘offshore’ and 'onshore' financial worlds, mainly in the 'off-limits', spaces of world cities, has once again come under the spotlight from both the academy and national governments, mainly OECD countries, who are critically examining their exclusivity and ‘secrecy’, and role as personal ‘tax havens’. The USA and UK especially, have put the issue of global ‘super-rich’ personal tax efficiency high on the political agenda as they seek to collect revenue from their citizens who have income offshore. But, there is a real dearth of research on the exclusivity of super-rich urban spaces, and the role of offshore financial centres (OFCs) in managing the wealth of the global super-rich. The specific aim of this lecture is twofold: first, to explore the role and exclusivity of world cities and OFCs specifically in managing private wealth; and second, to ‘expose’ the position of OFCs in managing the flow and stock of private wealth, assets under management, in these offshore jurisdictions. In achieving these two aims, the lecture explains the role of the specialist world city services tailored exclusively for the rich, and the banking and advanced business services sector in managing private wealth in OFCs, Examples will be drawn from European and the Asia-Pacific world cities and OFCs
Period23 Oct 2015
Held atVrije Universiteit Brussel, Belgium
Degree of RecognitionInternational

Keywords

  • Super rich
  • Private wealth
  • Offshore financial centres