Philip Legrand joined Nedbank Private Wealth in August this year, having spent nearly 15 years in the wealth management and private banking sectors across Jersey and London. Before joining Nedbank Private Wealth he worked as a Wealth Planner for another firm based in Jersey, broadening his skillset and “getting to know a lot of great people in Jersey”. he has also previously worked at UBS and HSBC.
In 2021, Philip decided to take some time out from his career to travel. He and his wife Katie embarked on a six-month sabbatical, travelling through Central and South America, “It was an unforgettable experience, and allowed me to experience new cultures, new perspectives, and to get to know some fantastic people on the way”.
What does your role entail day-to-day?
My day-to-day role involves acting as the conduit between my clients’ financial needs and the wide array of services we provide. What I really enjoy about private banking is the personalised aspect. We focus on treating every client as an individual, which is something that I massively value, and this means I get to enjoy a lot of variety from client to client.
One day I might be working on onboarding a new client, helping them through the process of opening accounts or setting up investment portfolios. The next day I could be assisting a long-term client who’s preparing for a significant event, like the sale of a business. These events can be life-changing, not just financially but also emotionally, as they often represent the culmination of decades of hard work. Navigating those moments with care and expertise is one of the most critical aspects of my job.
What is the best part of your job?
I know it sounds like a cliché, but I genuinely enjoy getting to know my clients – their stories, what makes them tick, and what they value most. Private banking is about more than just numbers on a spreadsheet, it’s about understanding the human side of wealth. How did they build their businesses? What motivates them to continue growing their wealth, and what are their aspirations for the future?
I believe empathy is one of the most important qualities for someone in my role. Truly listening and taking the time to understand a client’s full story builds trust, which is the cornerstone of a successful banker-client relationship, in my opinion. Trust doesn’t happen overnight, it’s built through conversations, shared experiences, and delivering on promises. This relationship-building aspect is what I find most rewarding, and it’s where I feel I can make the biggest impact in a client’s financial life.
Is there someone who inspires you in business?
I’ve always been inspired by Rafael Nadal, the tennis player. His achievements on the court are nothing short of extraordinary, but what really stands out to me is his attitude. Despite being one of the greatest players of all time, he remains incredibly humble and carries himself with grace and professionalism. His work ethic and resilience, even in the face of injuries and setbacks, are lessons I apply to my own career.
What I admire most about Nadal is his ability to maintain focus under pressure, but also his commitment to the future – his tennis academy is a testament to that. I often look to sport for inspiration because it offers instant feedback. In business, I’ve noticed that people often hesitate to give or receive feedback in real-time. But in sports, you have to adapt immediately to win, and that’s a valuable lesson for business as well. I try to apply that mindset by encouraging open, constructive feedback in the workplace. It helps everyone grow.
What trends are you seeing in the wealth industry at the moment?
There are a couple of significant trends we’ve been observing in the wealth industry, particularly here in Jersey.With the mooted budgetary changes in the UK on the 30th October, Jersey has continued to be one of the jurisdictions that Brits look to as an alternative. I think that the Government of Jersey, through Locate, has done a brilliant job of building a reputable and respected service for those people considering the island as their future long-term home. Younger, business-minded individuals, many of them entrepreneurs, are choosing Jersey not just for the business environment, but also because they see it as a great place to raise their families. The island’s excellent schools and strong sense of community are proving to be major draws, which can only be a positive.
Another trend that’s emerging is the increased focus on business exits. Jersey has long been a hot-bed for entrepreneurs, many of which we work with in professional services like trust companies and law firms. Recently, Nedbank Private Wealth conducted research that revealed a growing concern among these business owners about succession planning. The research highlighted that while 75% of those surveyed remained optimistic about their companies, it’s in fact personal and family issues that are keeping them awake at night. More than half of entrepreneurs surveyed also said they don’t plan to involve their children in the running of their business, and of those who do, nearly a quarter said it was challenging. This underscores the need for well-thought-out exit strategies. We’ve been working closely with many entrepreneurs to craft comprehensive wealth plans that support both their personal and financial long-term goals. These plans often involve preparing for the sale or transfer of their businesses, ensuring that their personal and professional legacies are protected.
In both of these trends there’s a growing need for bespoke advice that takes into account the client’s personal circumstances. The clients we work with are not just looking for transactional services, they want trusted partners who can guide them through complex, often emotional decisions. This is where our role as wealth managers becomes invaluable.
Nedbank Private Wealth offers a full range of wealth management services, and our dedicated, friendly team offers an award-winning end-to-end wealth planning service, whatever your financial needs.
For more information about how Nedbank Private Wealth could help you, please call Philip Legrand on 01534 823236, email philip.legrand@nedbankprivatewealth.com or visit nedbankprivatewealth.com
