Qatar Royal’s Family Office Executive Relocates From UK to Italy

Michele Faissola, a 57-year-old Deutsche Bank veteran and one of the most senior London-based executives at Dilmon—the family office managing the multibillion-dollar fortune of former Qatari emir Sheikh Hamad bin Khalifa Al Thani—has changed his declared residence from the UK to Italy, according to registry filings. His move, part of a broader surge of wealthy individuals relocating amid recent UK tax hikes on the rich, underscores a trend that may pose reputational and staffing challenges for London’s private wealth and family-office sector.

Analysis

Registry filings show Michele Faissola, 57, a Deutsche Bank veteran and one of the most senior London-based executives at Dilmon—the family office managing the multibillion-dollar fortune of former Qatari emir Sheikh Hamad bin Khalifa Al Thani—has changed his declared residence from the UK to Italy after more than a decade in Britain; he joined Dilmon in 2018. The article links his move to a broader surge of wealthy individuals relocating amid recent UK tax hikes on high-net-worth residents. This relocation trend poses reputational and staffing headwinds for London’s private-wealth and family-office sector and could prompt clients and senior employees to reconsider UK domiciles. The sentiment attached to the report is mildly negative with a small market-impact score (0.15), suggesting the development is important for private-wealth providers but unlikely to drive broader public-market volatility.

Key Decisions for Investors

• Investors with holdings in UK-focused wealth managers should reassess revenue and talent-risk exposure and ask management for client-domicile and staff-locations data to quantify potential attrition
• Allocators and private markets investors should monitor family-office domiciliation trends and consider reallocating relationship or service exposure toward providers in favorable-tax jurisdictions like Italy if client migration accelerates
• Track UK tax-policy announcements and migration/registry filings as early indicators of further relocations, and consider tactical hedges or selective participation in potential consolidation opportunities among UK wealth-service firms