Paul Stibbard, a top tax specialist, has joined Rothschild Trust, the wealth structuring arm of Rothschild Wealth Management.
Stibbard is generally regarded as one of the top tax lawyers in Europe, having worked as a partner at the US law firm Baker & McKenzie since 1988.
His appointment is a new one for Rothschild. It underlines the bank’s efforts to grow its wealth structuring business at a time when private bank revenues are under pressure as clients continue to ditch expensive investment products for exchange traded funds, cash or direct investments.
Stibbard will develop Rothschild’s so-called senior adviser platform and work with some of the world’s wealthiest families. A spokeswoman said: “His responsibilities will be advising clients with complex international planning and structuring needs, as well as acting as a mentor to Rothschild’s wealth planners.”
Stibbard was one of a number of senior lawyers at Baker & McKenzie who gained a reputation as top tax lawyers. At Baker & McKenzie he worked with Philip Marcovici, who after leaving the law firm helped construct the Liechtenstein Disclosure Facility. The LDF is generally considered one of the most innovative structures dealing with the pressures on offshore centres, and has been welcomed by onshore and offshore tax jurisdictions.