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Michel Santi

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Michel Santi

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Name

Michel Santi

Your Country

Switzerland

Company

Art Trading & Finance — Geneva Switzerland

Position

General Manager

Gender

Male

Core Industries

Art Advisory, Central Banks, Financial Institutions, Financial Markets, Hedge Funds, Investment Management, Law of Economics and Bank Attorney, Macro Economy, Sovereign Funds, Writing

Experience

Head of trading Desks within major Swiss banks. Founder and GM of my own investment management firm in Geneva for 12 years where we managed up to 30 billion $ up until the early 2000s. Senior advisor to Central Banks and to Sovereign Funds. Writer of weekly columns on macro economy in the French/Swiss/Canadian press since 30 years. Art advisor= advising major art collectors. Deep knowledge of the regulatory environment in Switzerland/Europe and of the Middle Eastern Market. Fluent in Arabic/English/French.

Let's Talk.

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NEDs and Economic Substance (“ESR”)

Pursuant to ESR, certain companies deploying a “relevant activity” have to demonstrate that they have effective substance in their jurisdiction by satisfying a so-called “economic substance test”. ESR is in force in the UAE since 30th April 2019.

A company meets the test if it is directed and managed in the UAE and has adequate people, premises and expenditure in the country.

In this context, the composition and competence of the board of directors – composed of both executive director(s) and NED/s –, and the proper recording of minutes of all board meetings are key factors when assessing whether a company is compliant or not.

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