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Praxis appoints new head of yacht ownership

Independent private wealth and corporate services group Praxis has appointed Craig Allen to the newly created role of head of yacht ownership in its yacht services division.

Craig, who has 25 years of experience in offshore wealth management, including a decade focused on yacht ownership, will help to deliver a full range of solutions for clients.

Based in Guernsey, he will collaborate with the yacht services team and his wider colleagues across the group.

“Throughout my career, I have been fortunate to collaborate with and learn from a broad spectrum of talented individuals, and the team at Praxis is very well-regarded in our sector,” said Craig. “I am excited for the opportunity to work alongside them to strengthen our relationships with our yacht owners, lawyers, brokers and captains.”

The appointment enables colleague and director Bruce Maltwood to dedicate more time to business development, with a focus on new client acquisition in existing and emerging wealth hotspots, where luxury yacht ownership is forecast to increase.

“It’s an exciting time for our team as we continue to focus on new partnerships and services,” said Bruce. “After more than 30 years in the industry I’m looking forward to the next chapter with Praxis and I’m delighted to welcome Craig to the team.”

Lee Madgewick, group head of yacht services, highlighted the division’s busy start to the year, with a new range of packaged solutions having been rolled out across crew employment and payroll and safety management.

“The creation of Craig’s role reflects our continued investment into the team and our optimism about the continuing upward trajectory of this asset class, in all our markets,” he said.


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