In his first appointment since retiring as London practice senior partner at Deloitte, Ormerod joined Guernsey-based wealth management firm, Walbrook as chairman on 1 June. He has taken another non-executive role at French smart card producer, Gemplus.
‘I would be hopeful that over the next year you would see me take on other things which you might regard as high profile,’ said Ormerod. ‘The phone has been ringing quite well.’
His position at Deloitte has been filled after Graham Richardson was promoted from senior client service partner in May.
According to Bryan Dix, chief executive of Walbrook, which officially launched a new independent tax practice today, Ormerod’s contact book will be a huge asset to the firm. ‘John has a fantastic network of people in the City and we have already begun to exploit that,’ he said.
Walbrook Group is the former offshore department of Deloitte. Dix successfully led a management buyout of the firm in December last year, with the backing of Hermes Private Equity. While work will be referred to Walbrook by Deloitte, Dix said there was no formal arrangement in place.
Dix also said he expects to ‘spend more money on tax counsel over the next few years’ because the Inland Revenue is getting better at challenging tax planning arrangements. ‘That’s the way it is going,’ he said.
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