Clare Maurice, senior partner (pictured), says: 'In the depths of a recession, some might question our timing, but it is in fact absolutely right. Wealth planning is a key issue in the global market as governments strive to deal with the banking crisis and to respond to pressures on public finance. We all advise on international wealth issues, ensuring that family assets are protected for future generations, regardless of tax or regulatory changes.'

A recession is also a busy time for professional partners and professional services firms. MTG's clients include a number of the best-known legal and accountancy practices, as well as fund managers established as partnerships and LLPs. Partner Richard Turnor is a recognised pioneer in the field, advising on constitutional issues, governance, international structures and disputes. 

MTG will also continue Ceris Gardner's practice in charity and philanthropy work, and in advising chartered corporations, particularly professional institutes.

Maurice adds: 'Although we have a new name, we are not really a start-up. We already have a very strong, established team which has worked together for many years. We have a loyal blue-chip client base which will continue working with us and we expect to be profitable from our first year of operation.

'Demerging from a global business gives us the opportunity to focus more strongly on our clients' needs, and gives us the scope to broaden our client base.'