The British-American Business Council
Chicago

FEATURED MEMBER OF THE MONTH

Business executives today are constantly faced with choices about how to maximize their company’s potential in this increasingly global economy.  Whether choosing which city to open offices in next, trying to hedge foreign currency exposure, or working on improving global supply chain integration, business owners turn to Chase for advice on cross-border solutions.

Chase has been doing business in Europe for over 100 years with London as the major center and ‘hub’ for many activities.  With ten offices and 10,000 employees in Europe, Chase is a proven expert in executing British-American financial transactions and can help navigate some of the pitfalls and help avoid unnecessary delays and expenses:  

• We recently helped two clients in the UK, both suppliers to McDonalds, that formed a joint venture to acquire a UK bakery business from a venture capital firm.  Our UK specialists called attention to a particular English law stipulation regarding how assets are acquired. This saved our clients much time and legal expense as the deal moved through the due diligence phase.
   

• Based on our decades of experience helping UK companies expand into the US, Chase developed a standard form of a British guarantee that enables us to take a UK parent company guarantee to support their US subsidiary.  This has helped us maintain a long-standing relationship with the subsidiary of a UK energy service and engineering company, as we've supported its expansion into the US by providing loans, letters of credit, foreign exchange, credit cards, investment management and more.  

So whether you are a British company looking for financial expertise here in the US, or a US company looking to expand into the UK, our experience and resources can help you mitigate risk, move money across borders and fund your international operations - - helping your company to maximize its opportunities.

For more information, please call senior bankers Peggy Myles, 312-661-7011, or Beth Karlson, 312-661-5101.
 

Traditional Ascot Day

The BABC Traditional Ascot Day held on June 16, at Arlington International Racecourse was another successful SOLD OUT event, attendied by over 175 members and guests. Guests enjoy an afternoon of networking, cocktails, a delicious buffet, and fun horseracing.

  Many of our guests are even big winners! 

One of the highlights of the afternoon is the Women's Best Hat Contest.  This year's winner was Mary Kay Smith (see below).  Mary Kay won two round trip tickets to the London, provided by British Airways.  While in London, Carole Denford, Fashion Editor of The Hat Magazine, has offered to take Mary Kay's photograph at Royal Ascot.

To view photos of the event, visit the Ascot Day Galleries.

Anglofile May 2006

Anglofile June 2006

ANGLOFILE

            July 2006
 

THE UPSIDE OF MANAGING RISK

Risk management is often seen as a necessary evil.

With the increasing number of regulations companies are required to comply with (e.g. SOX, HIPAA, Basel II, PCI, Gramm-Leach-Bliley, US Patriot Act), it’s hardly surprising that fatigue can set in when it comes to tackling the more mundane operational, supply chain and IT related risks.

Business continuity, disaster recovery and operational risks such as managing outsourcing transitions and complex projects often receive less management attention because:

o Companies do not perceive they are vulnerable
o The risk can be difficult to quantify, with many dependencies
o The impact on the bottom line is not well understood

However, in my experience, companies who approach risk management proactively and look for a return on investment, achieve a more positive outcome, including:

o A better understanding of priority products and services
o Improved relationships with customers and vendors
o Superior ability to respond to a major incident
o The opportunity for significant cost savings

In two recent cases, I have seen major organizations save tens of millions of dollars on business continuity and disaster recovery solutions by taking a proactive and risk based approach to these investments.

So rather than see risk management just as something that takes up increasing management and operational time, why not use it to your advantage?

Ian Foster is a new member of BABC in Chicago. He is a former partner at PA Consulting Group and specializes in risk management strategy and tactics for Fortune 100/500 firms. He was previously a member of BaBinc in New York and is also affiliated with his home town Chamber of Commerce in Liverpool, UK.

Outside of managing risk, Ian can be found singing at The Old Town School of Music with his 16 month old son (Becket) and Wife (Tami), getting involved with the local community and vainly searching for pick-up soccer.

Ian can be contacted at:

Assurance
1 South Dearbon St., 21st Floor
Chicago, IL 60603
Office: +1 312 212 4260
Cell: +1 646 387 8957
E-mail: ianfoster@rcn.com

If you would like to submit an article to Anglofile, please e-mail Chris Brenkus at cbrenkus@babcc.org.  Article contributions are most welcome.

­­            MEMBER to Member Benefit

Jaguar, Land Rover, Volvo & Audi ... plus plenty of pre-owned vehicles to choose

In addition, the Laurel Jaguar, Land Rover , Volvo & Audi VIP Purchase Program offers the following:

* Low rate, on the spot financing
* Kelly Blue Book is used for all trade appraisals
* Immediate delivery on new or pre-owned vehicles

Trans Atlantic Relocation Purchase/Lease Program

 If you are a Human Resources Director and have relocated employees from abroad and need a quick and easy program to Buy or Lease an Automobile, contact Andy for details.

* Non-US citizens
* No credit history established in North America
* Looking to lease or buy
* New or pre-owned vehicles
* As long as you have a current Visa, employment & housing agreement contract, Laurel can provide the vehicle and the financing ... hassle free!!!

For details on all programs plus current inventory listings, please call
or  e-mail Andy Taylor:   Tel:      708-468-1113
E-mail:  TaylorA4@autonation.com

Do you have a restaurant, hotel, travel, or other tips you would like to share with fellow members? If so, kindly e-mail your recommendations  to Chris Brenkus.

SALES ASSOCIATES NEEDED

Links of London, a dynamic UK brand, is expanding its US business at Marshall Fields on State Street and at Water Tower Place.  The company is seeking polished retail professionals for these new locations.  Qualifications include two years of luxury retail experience, commitment to customer service, and will be proud to introduce jewelry, watches, and gifts to their clientele.

Employee benefits paid by Links of London.  Marshall Fields discount is included.

Send resume to:  Debbie@linksoflondon.com or fax Debbie at 847-831-4660.

SAVE THE DATES

* September 27, 6-10 p.m.  British Consul General Awards Dinner at the InterContinental Hotel.  This year's recipient of the British Consul General Award is Jones Lang LaSalle Inc.  A special award in the "Smaller Enterprise" category will be presented to the British School of Chicago.

* December 8, 6-Midnight - Twelfth Annual British Christmas Gala at the Cultural Center-Yates Gallery.  This year the BABC Chicago is partnering with Make-A-Wish Foundation of Northern Illinois to raise funds for children with life-threatening illnesses.  Stay tuned for more details.

WELCOME NEW MEMBERS

Please join us in welcoming the following new members:

Goran Lukic, Regional Director, Kestrel International, Inc.  Phone:  847-226-2025; e-mail:  gukic@yahoo.com

Kestrel International is a UK pension fund advisory firm that British expatriates or other nationals who have at some time been in pensionable employment in the UK to 1) claim their pension monies currently "frozen" in largely underfunded pension schemes, and 2) transfer those monies into a Margetts managed mutual fund.
 

Adel F. Sheikh, CEO, Falcon Impex Inc.
Phone:  708-583-9000; e-mail:  falconimpex@ameritech.net

David N. Smith, Executive Vice President, FXa World
Phone:  630 778 3818' e-mail:  david.smith@fxaworld.com

FXa World is the first ever peer-to-peer online currency exchange, allowing companies and individuals to trade directly with one another.   http://www.fxaworld.com

Spread the Word about the BABC Chcago to your colleagues and those who you think would benefit from BABC Membership.  Kindly direct them to our Web Site or e-mail Chris Brenkus to send your contacts'  information.