Phyllis Townsend is Partner in the Wealth Management practice in London, Chair of the EMEA Wealth Management Steering Committee and a member of the Firm's Global Wealth Management Steering Committee. Phyllis works with clients on a broad range of wealth management matters, including those with a particular focus on investment structuring. Phyllis is listed in Chambers HNW Guide, Legal 500 and Legal Week's "Private Client Global Elite - Ones to Watch". Phyllis is a member of the Founding Committee of Thought Leaders 4 Private Client Next Gen Wealth. Phyllis joined in 2012 from Rothschild Wealth Management & Trust where she was legal counsel in London and Zurich.
Phyllis' main practice is advising trustees, family offices and high-net worth individuals on cross-border tax, asset protection and investment structures, including via family office and trust structures. Phyllis often advises on pre-UK arrival planning and provides ongoing advice to UK resident non-UK domiciled individuals and families with connections to the US, Europe and Middle East. Phyllis has experience in tax investigations. Phyllis also advises financial institutions on regulatory and compliance issues and in relation to their wealth management offering.
Representative Legal Matters
- Advised a client based in the Middle East on high-value acquisitions, a complex restructuring of private and investment assets and exchange of information/disclosure requirements.
- Advised a client on establishing a private trust company structure and family offices for US and global investments.
- Advised both trustees and beneficiaries on restructurings of complex contentious trust structures, which own operating businesses, investment portfolios and other assets including real estate.
- Advised a private trust company on restructuring of underlying corporate structures and ongoing advice on the application of UK anti-avoidance legislation and structures for investment, including the application of business investment relief for investment in the UK.
- Represented a client in a large tax investigation by a foreign tax authority, including advice around the enforceability of foreign judgments.
- Provided VAT and structuring advice in relation to significant maritime assets.
- Advised on changes to the taxation of UK residential real estate and structures for UK residential real estate.
- Advised an international private bank on their wealth management offering.
Professional Associations and Memberships
- Society of Trust & Estate Practitioners (STEP)
- Law Society of England & Wales
- England & Wales~United Kingdom (2010)
- BPP Law School, London (Legal Practice Course) (2008)
- University College London (LLB) (2007)
- University of Paris II (Panthéon-Assas) (Masters I in Business Law) (2007)
- University of Paris I (Pantheon-Sorbonne) (Bachelor in European and International Law) (2006)
- Author, "Overview of alternative personal taxation regimes in the UK, Italy and Switzerland," Baker McKenzie Private Wealth Newsletter, July 2021
- Author, "UK Freeports," Baker McKenzie Private Wealth Newsletter, July 2021
- Feature, "How to avoid conflict in family wealth planning," ePrivateClient, December 2020
- Feature, "Everything you need to know about Children's Trusts," Tatler, September 2020
- Feature, "Cultural Transition," STEP Journal, April 2019
- Author, "The World Stage: Planning for the Wealthy Brazilian," STEP Journal, March 2013
Baker & McKenzie LLP, an English partnership, is a member of Baker & McKenzie International, a Swiss Verein.