Here, as well as information on the firm, you will find our thoughts on relevant issues, details of events we have attended and news in general.


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Men's Health

A team of 13 Multrees staff took part in the Men's Health Survival of the Fittest 2014 run in Edinburgh on the 19 October to raise money for a number of good causes.

The run, originally billed as 10km, turned out to be closer to 12km and took the team up and down the streets and scenic land marks of Edinburgh and mixed running with plenty of additional obstacles to test even the fittest of competitors.

The course lead us up to Edinburgh Castle before charging down the Royal Mile, scaling the top of Carlton Hill, back through the Hollyrood Park and over the Radical Road leading up the side of Arthur's Seat, Edinburgh's highest hill. Finally, the course looped around and we ran back through into the city centre, before finishing in Princess Street Gardens.

Included in the already challenging route, were independent assault courses, cargo nets, ice cold plunge pools, climbing walls and various other obstacles, designed to drain any remaining energy from our tired bodies.

We are pleased to say that everyone in "Team Multrees" completed the course and managed to drag themselves over the final 8ft high "Wall of fame", before celebrating with a well-earned beer and burger.

Together, the team managed to raise a total of £530 for the Marie Curie, Charity Right and the Princes Trust charities. It was a fantastic day out and a great achievement for everyone.

Ahead of the FCA's conference on MiFID II on the 18th September (or the closure of the call for evidence in the House of Lords' investigation into the EU financial regulatory framework), Jonathan Sokhanvari of Multrees Investor Services comments on the viability of the wealth management market in the UK with regards to the regulation:

"While MiFID II's aim for increased transparency is laudable, the UK wealth management industry has two major concerns regarding the directive; the potential high compliance costs, and its seeming incompatibility with the traditional structure of UK non-bank wealth managers.

"Compliance with the new directive would be costly for most UK firms. Examples of the directive's requirements that would impact the UK wealth industry are many.  These include changing collateral requirements, changing workflow for execution only and advisory businesses, the revision of products deemed 'complex' and enhanced requirements to evidence best execution.

"MiFID II will put pressure on systems and IT resources. It will also open a wider scope for inadvertent regulatory breach and associated reputational damage. The challenges for UK wealth managers are further exacerbated by other factors. The shortening timelines for delivery create issues, as do the clash of inconsistent definitions between separate regulations, the challenge of attempting to bring together multiple asset classes under a single framework, incompatible national standards, and a lack of clear guidance.

"In the UK, the FCA has a stated aim of increasing competition within the industry.  MiFID II threatens to promote increased costs and higher capital requirements for wealth managers. This will inevitably threaten the client-focused specialist boutiques and non-bank wealth managers which UK regulators have done so well to foster. Ultimately customer outcomes, the key driver in this industry, could be negatively affected as choice of provider becomes more limited.

"MiFID II will have a wide-ranging impact on the regulation of investment services and activities in the EU. Much of the detail however, remains to be filled in under level two legislation and ESMA technical standards. The full picture will not emerge until this process is complete. In many areas it will be necessary for firms to expend vital resource at a much earlier stage to ensure compliance with the new regime."

'Multrees Compass' set to innovate service delivery for independent wealth managers and private investment offices.

Multrees Investor Services (Multrees) has today announced a major evolution in its service proposition, the launch of 'Multrees Compass'. Multrees, the independent custody and consolidated reporting specialist for wealth managers and private investment offices, has designed this online interactive web portal to transform the wealth advisers' experience and help them manage their clients' assets more efficiently.

Multrees Compass offers wealth advisers a range of functionality and tailored services based upon their clients' needs. Under one single sign-on solution, Multrees Compass provides a suite of integrated services including content management, portfolio modelling, order management and accounting, multi-level business intelligence reporting, and analytics.

Jaco Cebula, Chief Technology Officer, said: "Multrees Compass uses market-leading technology to provide wealth managers with a holistic visual display of their own client information and seamless access to Multrees' range of wealth management tools and services. Just as everyone has their own combination of apps on their smartphone, each wealth manager will have a tailored combination of services based on their log-in; reflecting their specific business models and requirements."

Chris Fisher, CEO of Multrees, said: "It is crucial that we continue to invest in technology to be able to adapt quickly and efficiently to changes in the wealth management industry. Our clients have unique requirements and their resources are finite. They want easy access to professional information and control over their clients' investments to provide a premium service that addresses new regulation. We are committed to providing this support so that clients remain at the forefront of the industry."

Nigel Pilkington, Chairman of Multrees and senior Skandinaviska Enskilda Banken AB executive said: "Multrees has really listened to the industry, thus showing their commitment to supporting clients through dynamic technology solutions, quality products, and effective services that help them to grow their businesses. It's another milestone on the journey, empowering wealth managers to focus on addressing the multiple needs of their clients and to safely and easily navigate the increasingly complex wealth management marketplace."

London, 28 April, 2014: Multrees Investor Services (Multrees), the independent custody and consolidated reporting specialist for wealth managers and private investment offices, has today announced the appointment of Jaco Cebula as Chief Technology Officer.

Formerly of Kames Capital, Cebula brings over 18 years of specialised technology experience to the role. Cebula's appointment provides technology leadership to ensure that speed, innovation, and quality drive the development of Multrees' products and services.

Jaco Cebula, Chief Technology Officer, said: "Multrees has a reputation as a quality product and service provider in the wealth management industry and I relish the opportunity to lead its technology team. I will ensure that Multrees continues to invest in and develop key technologies for the benefit of our clients and their customers."

Chris Fisher, CEO of Multrees Investor Services, said: "Following a stringent selection process, Jaco emerged as the best candidate to be our Chief Technology Officer and lead our technology developments. We are committed to bringing innovative solutions to our clients; Jaco's extensive experience and expertise of IT solutions will ensure Multrees is well positioned to respond to change in the industry. Jaco will play a key part of my senior management team and I welcome him to Multrees."

Clive Stelfox, Head of Client Relationship Management at Multrees, contributes to discussions within this Professional Wealth Management article (see section 'Complex Web'):

Former Lord Mayor of London, Sir Roger Gifford, has joined Multrees Investor Services as a Non-Executive Director.

LONDON, 24 March, 2014: Multrees Investor Services has today announced that Sir Roger Gifford has been appointed as a Non-Executive Director. The former Lord Mayor of London and current country Head of SEB UK has over 30 years of experience in the financial services industry enabling him to bring invaluable international expertise and insight to the business.

Sir Roger Gifford was honoured for services to international business, culture and the City in the 2014 New Year Honours. He became the 685th Lord Mayor of the City of London in November 2012, acting as ambassador for UK financial and professional services. He is also Vice-Chairman of the Association of Foreign Banks.

Sir Roger Gifford said: "I am keen to see Multrees thrive and grow in the important UK financial services sector. They represent an excellent example of London-Scotland co-operation, which we will continue to enhance and strengthen. Multrees provides an exceptional service, enabling clients to be fully up-to-date with the regulatory framework."

Chris Fisher, CEO of Multrees said: "We are very pleased to announce Roger's appointment today. His experience enables us to continue to be at the forefront of our industry. Our service ensures our private investment office and wealth manager clients benefit from the most advanced custody, consolidated reporting and administration solutions."

For more information please see:

Web Based CRM for Financial Services: Case Study Collection How web based CRM from Workbooks has helped Multrees and two other financial services firms overcome specific business challenges to better meet customer expectations.

Find the blog post here.