Crestbridge Chairman explores US-Jersey Trust trends at Private Client Forum

Crestbridge Family Office Services Chairman Steve Sokić, along side Dean Berry of Cadwalader, Wickersham & Taft LLP from New York, provided insights and led an active discussion into the evolution of both US and non-US trust sectors at the prestigious International Private Client Forum held recently at Villa d’Este on Lake Como, Italy.

Speaking in a highly interactive session, Steve and Dean explored how the US trust sector has evolved from a primarily domestic focus to a global player over the last 25 years, within a framework that showed such development running largely in parallel to established offshore trust centres (using Jersey as a prime example), each shaped by similar and different evolutionary triggers. The discussion covered broader trends such as shifting wealth dynamics and macros, regulatory and compliance changes, global taxation trends, and the evolving nature and role of trustees. A prevailing view emerged indicating that these trust sectors have indeed shared many attributes in their journeys over the last 25 years. Today there is more competition, providing global UHNW families with not only more choice, but also with more aligned and complementary options to meet their bespoke, complex and multi-jurisdictional needs, particularly (but not only) those families with US connections.

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