Building trust and safeguarding legacies: A unique path to trust and transformation

Chad Phillips is a fiduciary services specialist at Standard Bank Offshore Picture: SUPPLIED BY STANDARD BANK

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Chad Phillips, one of Standard Bank Offshore’s fiduciary services specialists, reflects on his career journey and explains how his team builds clients’ trust and wealth

WITH more than 20 years’ experience in the UK and Jersey, Chad Phillips found his true passion in the fiduciary sector and has settled in Jersey working for Standard Bank. In this article, he highlights the similarities between the fiduciary and civil engineering industries, emphasising the importance of building solid and tangible solutions for clients. Chad also emphasises the long-term nature of fiduciary and wealth management, allowing him to establish and maintain strong relationships with clients throughout their evolving needs and goals.

Collaboration and communication

Collaboration with key stakeholders is pivotal in my role, and I engage frequently in productive dialogues with colleagues based in Africa to stay well-informed about client interactions, often uncovering opportunities for our international fiduciary services, offered from Jersey and Mauritius.

My specialisation lies in facilitating introductions and discussions, always with a focus on delivering value from a wider Standard Bank Group perspective, combining our offshore solutions with our onshore resources for seamless service.

For clients who are not yet aware of the fiduciary services within Standard Bank, educating them about the full spectrum of offerings, from personal asset protection to perhaps assisting them with their business needs, and quite often leading to deeper discussions with the small- and medium-sized enterprise support, is personally gratifying. These discussions naturally extend to broader business needs, infusing each day with dynamism.

Having been raised in South Africa, I very often find that I can culturally relate and share a mutual understanding of the values, beliefs, customs and practices of individuals connected to the continent we call home.

As Africans, we foster a culture of respect and open mindedness, sharing experiences, building trust and showing empathy for similarities and differences.

Impacting lives

Over the years, I have observed the transformational journey of families with children who have progressed their education journey and returned to join their family’s businesses, which are owned within structures looked after by Standard Bank.

These individuals have now become integral parts of their parents’ empires. Personally, this progression is what resonates with me the most. It can be challenging at times when managing differences of opinions, but ultimately it all comes down to understanding the family and the bigger picture of their collective goals.

Our work is about safeguarding a family’s legacy and succession and it’s important for me that this starts with clear, open conversations with them to build the understanding of their needs.

In the contemporary world, a multitude of global events are unfolding, leading to unrest and unsettlement. This contributes to individuals and families frequently considering relocation. Seeing this evolution over my 20 years in the UK and Jersey, witnessing how the jurisdictions adapt to changing regulations and evolving client needs is remarkable.

Being part of a financial institution that facilitates and accommodates the shifting landscape for individuals is incredibly rewarding. This is particularly fulfilling considering my commitment to providing long-term service for clients and the well-being of generations to come.

Award-winning services

Aside from my personal belief in the services we offer, Standard Bank Offshore has recently garnered significant industry recognition. Our dedication to excellence in the private wealth sector is exemplified by our nomination for the Trust Company of the Year (Jersey) at the prestigious 2024 Citywealth IFC Awards where we picked up silver.

We have also been named as one of the top non-independent trust companies in the 2023 eprivateclient Top Trust Companies list. In 2022 we were recognised at the Wealth Briefing awards 2022 as the Institutional Trust Company winner and Thought Leadership winner. These recognitions underscore our unwavering commitment to delivering exceptional client service and driving innovation across private client, family office, and corporate fiduciary services.

Jersey, renowned for its expertise in fiduciary services, has acknowledged Standard Bank Offshore as one of the premier trust companies – an accolade we deeply value. This recognition is especially meaningful because it aligns with our distinctive fiduciary model. As a boutique provider supported by Africa’s largest bank in terms of assets, we offer a unique approach to serving our clients.

Looking to the future

Looking ahead, my primary focus is on cultivating stronger connections in the West Africa region, particularly in Nigeria and Ghana. Returning from these countries having connected with my esteemed team of experienced wealth managers, I reflect on our discussions that focus on the generational transitions and optimising asset structures in line with sound tax advisory practices. I am energised by the prospect of collaborating with my colleagues in Jersey, Mauritius and across the continent. The future looks great for our client offerings.

  • Important information: Standard Bank Offshore Group Limited registered office is at Standard Bank House, 47-49 La Motte Street, St Helier, Jersey JE2 4SZ. Registered in Jersey No 43694. Standard Bank Offshore Group Limited is a wholly owned subsidiary of Standard Bank Group.

Standard Bank Jersey Limited is licensed by the Jersey Financial Services Commission with registered office at Standard Bank House, 47-49 La Motte Street, St Helier, Jersey, JE2 4SZ. Registered in Jersey No 12999.

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