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 FACILITATING GLOBAL FLOWS THROUGH JERSEY

    The UK Crown Dependency of Jersey has shaken off its image as an ‘offshore’ centre to offer a new menu of financial planning, wealth management and servicing alternative funds, with global family offices fast emerging as key clients to fuel the island’s growth.

     

    In discussion:

    • Serving digitally-focused clients: Jersey's financial services hub is looking to serve a segment of clients favoured by changing demographics: these tend to be digitally-savy members of the Next Generation, living in developing markets including Asian, African and Middle Eastern nations

     

    • Jersey's banking renaissance: The Global Financial Crisis hit Jersey hard from 2008 onwards, with jobs lost in the banking industry, but a period of growth has seen banks moving into new buildings in St Helier and renewed interest in related services, including wealth management for high net worth clients

     

    • Structuring wealth with high-quality trusts: Any financial centre aiming to attract rich clients needs expertise, experience and a body of legislation relate to trusts and wealth structuring. Jersey has all of these advantages and remains one of the premier jurisdictions for setting up trusts and foundations

     

    • Alternative investments find island home: Alternative investments are booming, especially private equity and real estate, as public markets struggle to pay dividends and pension schemes allocate increasing assets to these classes. Jersey is developing significant specialisation in this sector, one of the island's key growth engines

     

    • Regulatory vigilance and innovation: Jersey prides itself in its compliance with international regulators and its work to combat money laundering and other financial crimes, but the island must keep track of trends and innovations to stay in the vanguard of international centres and remain in tune with a new generation of global clients

     

    In conversation with:

    • Geoff Cook, Adviser to Jersey wealth firms, Former CEO Jersey Finance
    • Amy Bryant, Deputy CEO, Jersey Finance
    • Ian Crosby, President of the Jersey Association of Trust Companies and Chairman of Stonehage Fleming Jersey
    • Mike Byrne, Chairman of the Jersey Funds Association and Partner with PwC Channel Islands
     

     

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