We are pleased to announce that we have expanded our global partnership with the promotion of four senior professionals. These appointments strengthen leadership across key financial hubs and reflect the firm’s continued investment in expertise, long-term client relationships and scalable growth.

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Alongside these four partnership promotions, Langham Hall has recognised talent across the business, with a further 17 being awarded long term incentives and a total of 144 employees promoted worldwide, reinforcing the firm’s commitment to internal progression and long-term value creation.

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Langham Hall now has 14 partners globally, each directly leading expert teams and ensuring senior-led client service, technical precision and deep market insight across private equity, real estate, infrastructure and debt.

Newly appointed partners

• Richard James (UK) – As Head of UK, Richard oversees the firm’s UK fund administration business. He joined the business in 2024 and was previously Global CFO of Savills Investment Management, bringing deep expertise in financial strategy, governance and operations.
• Joseph Hindi (USA) – Appointed in 2023 to lead Langham Hall’s US expansion, Joseph has been instrumental in scaling fund administration and accounting services.
• Maria Thorsted (Luxembourg) – Since joining in 2023, Maria has complemented the client and team focus with operational efficiency and risk management. As Head of Luxembourg, she will continue to scale the firm’s Luxembourg platform while ensuring best-in-class service delivery.
• Christian Mohr (Luxembourg) – A core architect of Langham Hall’s AIFM Luxembourg business, Christian has deep private equity and real asset expertise. With a background in audit and over 15 years of experience, he enhances the firm’s regulatory and governance capabilities across Europe. He joined the business in 2018.

A selective, structured path to partnership

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Becoming a partner at Langham Hall involves a process which is highly selective and merit-based – reserved for the most talented professionals in the field. Unlike corporate structures where promotions can be tenure-based, Langham Hall ensures that each partner is a practitioner and leader, directly overseeing a team of experts and maintaining high-touch client relationships.

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This latest round of promotions reflects Langham Hall’s commitment to quality, long-term partnerships, and independent growth. As a partnership-led firm, Langham Hall prioritises senior access, technical depth and fast decision-making – ensuring clients benefit from the best expertise in the industry.

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Investing in people, expertise and technology

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Langham Hall’s success is built on deep industry expertise, a relationship-driven approach and seamless technology integration. The firm combines expert leadership with innovative fund services, ensuring that clients receive precision, transparency and scalable solutions.

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Rob Short, Managing Partner said: “At Langham Hall, we don’t just grow in size; we grow in strength. Each of our new partners has demonstrated exceptional leadership, technical expertise and a commitment to long-term client success. Their promotions reinforce our ability to deliver high-touch service across global financial centres while remaining independent, client-focused and technology-driven.”

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Langham Hall is delighted to announce the appointment of two senior hires in Luxembourg. Ian Kent joins as Head of Fund Administration – Luxembourg and Brian Campion as Head of Commercial – Luxembourg. Both have extensive experience in alternative assets and will help us continue to deliver best-in-class service to top tier fund managers.

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Ian Kent | Head of Fund Administration – Luxembourg

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Ian has 20 years’ experience in the alternative investment sector in Luxembourg, both with investment managers and service providers. He has spent time at KPMG, Morgan Stanley and Abrdn, before working at a global bank where he serviced clients with complex cross-jurisdictional structures. Ian is a Fellow Chartered Accountant (“FCA”).

Ian leads our Luxembourg fund administration practice across all illiquid asset classes.

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Brian Campion | Head of Commercial – Luxembourg

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Brian started his career as an Auditor at EY Luxembourg, before working for an independent AIFM. He joins Langham Hall from another independent service provider, where he advised clients on Luxembourg operating models and regulatory frameworks. Brian is also the Co-Chair of the LPEA Promotion Sounding Board.

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Brian leads the Luxembourg commercial team, which is responsible for advising and working with clients during the setup and initial operation of funds in Luxembourg.

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Maria Thorsted - Head of Luxembourg said: “Both Ian and Brian bring a wealth of professional services experience to Langham Hall, which will help us continue to deliver best-in-class service to our clients”

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Tom Pinnell - Head of Commercial - Europe said: “Brian’s Big 4 background makes him a perfect fit for Langham Hall. He is able to really problem solve technical issues with clients at a deeper level than most and I look forward to working with him”.

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Richard James has been appointed as Head of UK, bringing over 20 years’ experience in investment management to Langham Hall.

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Previously Richard was Global CFO for Savills Investment Management, a global fund manager investing in Real Assets and Credit. Here he was responsible for both fund and corporate finance, tax, treasury and operations across the business. During his tenure, he was part of the leadership team that drove AUM growth from £3bn to over £20bn. Before Savills Investment Management, Richard worked at Internos, AEW, and Ares. He began his career at EY, where he also obtained his professional qualification. Richard’s invaluable client-side experience and proven leadership make him a significant asset to Langham Hall.

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Richard James, Head of UK said: “I am very excited to be joining such a highly respected business which is becoming increasingly unique in this market”

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Rob Short, Managing Partner said: “I am delighted that Richard has joined us to continue to deliver best-in-class professional services to our clients”

Langham Hall is pleased to announce the promotion of three senior professionals to the level of Partner. The promotions are effective January 1, 2023, and further reinforces Langham Hall’s plans for growth across all our jurisdictions.

Listed in alphabetical order:

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Eddie Lam (Hong Kong)

Eddie has been with Langham Hall since 2012. He leads the Asia-Pacific fund administration and accounting services with vast experience advising clients on all aspects of fund operational matters.

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Vincent Ng (Hong Kong)

Vincent has been with Langham Hall since 2010. He leads the IT and compliance system development for the Asia-Pacific business, is actively involved in client on-boarding, acts as a client advisor to problem solve operational issues and works closely with international legal counsels on LPA matters.

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Sara Zhang (Hong Kong)

Sara has been a key member of the Hong Kong team for over 10 years. Her enthusiastic BD and management skills have helped to successfully develop Langham Hall’s specialised fund administration service business in Asia Pacific.

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Rob Short, Managing Partner said: “Our newest partners are a talented group who have demonstrated their broad industry knowledge, dedication to clients and commitment to strengthening Langham Hall’s global presence. It gives us great pleasure to introduce them to the partnership and we wish them every success.“

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In addition to the four partners named above, Langham Hall has promoted a total of 131 colleagues across its global offices at the end of 2022.

Fund, corporate and transactional structuring is often complex, with tax considerations playing an important role throughout. The more tax a company pays, the lower the return to shareholders. Historically, this resulted in certain countries using low tax rates to attract international business.

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Tax treaties between jurisdictions have over time been implemented and updated to counter “treaty shopping” and aggressive tax mitigation schemes and to more fairly apportion taxable revenues across countries. However, to date, tax treaties alone have not solved these issues to the satisfaction of the G7 nations.

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BEPS & ATAD

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The Organisation for Economic Co-operation and Development has promoted a series of measures over more recent years, notably Base Erosion and Profit Shifting (‘BEPS’) and the Anti-Tax Avoidance Directives (‘ATAD’). These measures were primarily aimed at large corporates who have been subject to negative publicity due to aggressive tax planning. However, the funds industry has also benefited from tax treaties and tax mitigation structures to limit tax leakage and is also impacted by these initiatives. Alternative investment funds often use holding companies and other complex structures for a variety of reasons including segregating or limiting liability, financing, disposal planning and, historically, tax mitigation. Access to treaties or directives is often helpful through holding companies because withholding taxes and/or in some cases capital gains taxes, will be applied predictably and efficiently by the relevant jurisdiction.

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BEPS, ATAD I and ATAD II have in effect imposed certain minimum substance requirements on companies wishing to benefit from tax treaties. The EU’s most recent proposal, Anti-Tax Avoidance Directive III (‘ATAD III or the ‘Draft Directive’), further clarifies and extends these substance requirements. It marks the next step of the European Commission’s vision to provide a fair and sustainable European business tax system and to support the economic recovery from the pandemic and adequate public revenues for Member States. ATAD III will, if implemented in its current form, result in the benefits of European Directives and also the benefit of double tax treaties being denied to EU-based holding companies failing to meet minimum substance requirements from 2024.

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The Draft Directive

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Per the Draft Directive, the provisions apply not just to equity holding companies, but to holding companies of all forms of passive income including income from debt, IP and real estate. Whilst there are no material additional infrastructure requirements in ATAD III for multinational groups, the disclosure and reporting requirements may result in fund managers reassessing their operating models.

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The Draft Directive requires companies that, during the last two tax years, predominantly derived passive income (e.g., interest, dividends, royalties) or predominantly held real estate and/or shares, and that meet some other tests to report substance-related information to the tax authorities of their residence state. If an entity fails to meet the minimum substance requirements, it will be considered as a “shell entity” and any tax benefits otherwise available in the Draft Directive will not apply.

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The Draft Directive outlines three cumulative “gateway” criteria to identify whether an entity is at risk of being a shell entity:

• the entity mainly derives passive income (e.g., interest, dividend) or predominantly holds real estate and/or shares,
• the entity is engaged in “cross-border activities”, and
• the entity (partly) outsources its own administration and decision making.

An entity meeting each of the criteria will be considered “at risk” and will be required to disclose and document its substance in its annual tax returns by providing information on its premises, bank accounts, local director(s) or employees. This represents an extension of the disclosure and reporting requirements.

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If substance is not properly demonstrated, the entity at risk will be deemed to be a shell company and will therefore not be entitled to receive a tax residency certificate. As a result, the entity may not be entitled access to double tax treaties and/or EU Directives, which may result in a higher tax burden, particularly if the entity derives income from the EU or pays income to EU investors.

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It continues to be the case that funds, and fund managers ought to approach the holding company question from the starting point of where the key decision makers for the holding company are, or will be, located, rather than which jurisdiction gives the best tax result. Fund managers need to be fully prepared for any potential changes and new compliance requirements arising from ATAD III. Many managers have in place significant and robust infrastructure in the jurisdictions that their holding companies are established, so may not in practice need to make many changes to their operating models, however, it may be necessary for some managers to engage (or re-engage) their tax advisors to conduct entity/structure analyses and/or impact analyses to identify any current or future structures that may be impacted by ATAD III.

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It remains to be seen how ATAD III will in practice impact on structuring and exactly what level of substance will be implemented by fund managers. We predict that many will increase their local presence, by for example increasing headcount and office space, and when finalised it is certain that ATAD III will result in increased focus on this proper substance by funds, fund managers and the authorities alike.

Deciding what path to take after school can be a daunting decision, do you continue onto a Sixth Form, go to college, or consider an apprenticeship?

Apprenticeships are an exciting option, where you get hands-on training while simultaneously putting the skills you learn into practice.

As we celebrate National Apprenticeship Week 2022, we spoke to Samuel Highmoor, a trainee accountant undertaking an apprenticeship with our Internal Accounts team, whilst completing his AAT - Assistant Account Apprenticeship Level 3. We asked Sam to shares his experience and recommendations to anyone considering taking this route into employment.

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Q: Why did you decide to do an apprenticeship?
After being at university for two years, I wasn’t enjoying my course and didn’t see myself finishing it. I started an apprenticeship as this allowed me to carry on learning while entering the job market. This was good for me as I feel I am quite a practical person, all the things that I learn on my course apply back to something I am working on.

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Q: What kind of tasks have you completed / do you complete on a daily basis?
I run timesheet and debtors reports to help senior management see how the business is running. On a weekly basis, I process the payment run for suppliers and deal with administrative task on our Practice Management Software. I also do the bank reconciliations and have started taking on parts of management accounts preparations.

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Q: What has been your biggest challenge during your apprenticeship so far?
My biggest challenge has been managing my time and organisation of my workload. This includes learning how to create effective plans so that deadlines are met, whilst communication with my team on my current capacity to take on new work. This is an important skill I’m learning early on in my career as I continue to take on more responsibility. Being able to share my experience with my co-workers has meant that I’ve gained an insight into their work styles to help me develop my on working and organisation method. These are valuable skills that you learn outside of a traditional study environment.

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Q: What do you hope to be doing in five years’ time?
In 5 years, I hope that I am fully qualified as an accountant.

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Q: What’s the best piece of advice you could give to someone who’s looking for an apprenticeship?
I would highly recommend an apprenticeship, as you get both an education and work experience all in one. Apply to as many places as possible and don’t be afraid of being rejected. The right company and opportunity for you is out there. Find a team where you can learn and grow.

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Langham Hall offers a diverse range of apprenticeships spanning from our operations and compliance team to internal accounts and Technical/Systems. We are keen to widen the range of departments that support apprenticeships as the development of young talent ensures we are training staff from the bottom up. Team growth and succession planning are key to our talent strategy and apprentices are become increasingly important in supporting this aspect of our growth plans.

At Langham Hall apprentice’s sign-up to an 18 month or 3-year apprenticeship depending on the level of qualification they are completing. They are assigned to a specific department or business area where their job role directly relates to their qualification. Each apprentice has a mentor to support them through their qualification and study leave to allow time to complete their training programme.

If you are interested in our apprenticeship opportunities, get touch with our HR team.