"With trillions set to pass between generations by 2040 the Private Client industry is booming. With such a large amount of money in private hands there is a need for good stewardship of assets. STEP is committed to providing high standards in the industry and these awards reflect the fact that standards are rising along with the size of the funds involved," announced STEP Chief Executive David Harvey.

The winners were as follows:

• Institutional Trust Company Team of the Year
  Institutional Trust Company of the Year was won by Investec Trust.
• Independent Trust Company Team of the Year
  Independent Trust Company of the Year was won by Close Trustees.
• Charity Team of the Year
  The Charity Team of the Year was Stone King.
• Private Banking Team of the Year
  The Private Banking Team of the Year was JP Morgan.
• Investment Team of the Year
  The Investment Team of the Year was Fleming Family and Partners.
• Barrister of the Year
  The Barrister of the Year was Brian Green QC.
• Accountancy Team of the Year
  The Accountancy Team of the Year was BDO Stoy Hayward.
• Channel Isles and Isle of Man Private Client Team of the Year
  The Channel Isles and Isle of Man Private Client Team of the Year was Carey Olson.
• Caribbean Private Client Team of the Year
  The Caribbean Private Client Team of the Year was Appleby.
• North American Private Client Team of the Year
  The North American Private Client Team of the Year was Cantor & Webb
• Private Client Book of the Year
  The Private Client Book of the Year was Underhill and Hayton’s Law of Trusts and Trustees.
• Best Government Initiative of the Year
  The Best Government Initiative of the Year was the Family Office Initiative from the Dubai International Financial Centre.
• UK and Ireland Regional Legal Team of the Year
  The UK and Ireland Regional Legal Team of the Year was Turcan Connell.
• London Legal Team of the Year
  The London Legal Team of the Year was Allen & Overy.
• Contentious Trust and Estates Team of the Year
  The Contentious Trust and Estate Team of the Year was Withers LLP.
• STEP Outstanding Achievement Awards
  The STEP Outstanding Achievement Awards were won by no less than six different people. The winners were Toby Graham, Martyn Frost, Clive Cutbill, Wilson Cotton and Michael Furness QC, for their work on the 3rd EU Money Laundering Directive, and Richard Williams for his work on the Transfer of Trustees
• STEP Lifetime Achievement Award
  The second Judges’ award is the lifetime achievement Award, and this went to two very senior members of the profession who have retired this year – Julian Clyde-Smith and Ralph Ray.