Guernsey: Guernsey Ramps Up Promotion To Capitalise On ‘Recovery’
Last Updated: 22 September 2009

Guernsey is ramping up the promotion of its finance industry in a bid to capitalise on the slowly emerging global economic recovery.

In the remaining months of this year Guernsey Finance is hosting and participating in a series of events across the world to promote the various facets of the island’s finance industry, including banking, funds, trusts, (re)insurance and pensions.

Peter Niven, Chief Executive of Guernsey Finance, said: “The economic downturn has impacted on the business flows that we have seen coming through our usual pipelines but importantly during this difficult time we have been keeping in very close contact with all our key introducers of business to show we are with them through thick and thin. Now, in the final few months of the year, we are stepping up our activity levels once again to ensure that we are in pole position to capitalise on the slowly emerging global economic recovery.”

Leading the way, the Channel Islands Stock Exchange (CISX) International Business Summit and the Offshore Registries Conference were both held in Guernsey last week. Guernsey has held a seminar to promote its Qualifying Recognised Overseas Pension Scheme (QROPS) product in London on 16 September and is also hosting a debate in the City on the future of the funds industry at the start of October. In addition, the Island is participating at other conferences within the UK to market the Island’s trust, private equity funds and insurance and reinsurance sectors.

“The two events hosted in Guernsey last week were a great success in showcasing the Island both as a business and visitor destination,” added Mr Niven.

“However, it is equally important that we make every effort to visit key introducers of business on their doorstep in the heart of London and in other regional centres in the UK. London remains our principal source of new business so it is vital that we maintain our profile in the City but Guernsey also needs to make sure that it keeps enhancing its position both in the UK regions and even further afield in new emerging markets.”

Guernsey will be represented in the Middle East through participation at October’s Funds Forum Middle East and December’s Private Banking World Middle East, both in Bahrain.

The Island will also have a significant presence in the Far East during October when Guernsey will be lead sponsor at STEP Asia in Singapore – the pre-eminent annual fiduciary conference in the region. This will be immediately followed by a delegation from the Island, including Chief Minister Lyndon Trott, Mr Niven, CISX Chairman Jonathan Hooley, Guernsey Registrar of Companies Mark Whiteley and a number of industry practitioners, visiting Hong Kong and then China.

As well as meeting with senior politicians and regulators there will be specific half-day seminars showcasing how Guernsey’s leading position for offshore funds makes it a natural gateway for accessing Europe’s capital markets and how the Island has considerable expertise in the use of companies and trusts for wealth management solutions.

Mr Niven said: “It is crucial for the future of our finance industry that we get the Guernsey brand fully established in the Middle East and the Far East. Having a representative on the ground in China has helped us make considerable progress in that region and the extremely strong programme we have put together for last few months of this year means that we will be entering 2010 with not only the Guernsey name better known but also a greater appreciation of the financial products and services we can offer both companies and individuals in the Middle Eastern and Asian markets.”

Guernsey Promotional Activity 2009 (September – December)

September

  • Offshore Registries Conference, Guernsey (Registries)
  • CISX International Business Summit, Guernsey (Investment)
  • Guernsey QROPS Seminar, London (Pensions/Fiduciary)
  • Financial Director Summit, Hampshire (Insurance)
  • SuperReturn Asia, Hong Kong (Private Equity Funds)
  • Guernsey Reinsurance Roundtable, London (Reinsurance)

October

  • STEP Autumn, Birmingham (Fiduciary)
  • FERMA, Prague (Insurance)
  • Guernsey Funds Debate, London (Funds)
  • STEP Autumn, London (Fiduciary)
  • STEP Symposium, London (Fiduciary)
  • BVCA Summit, London (Private Equity Funds)
  • Fund Forum Middle East, Bahrain (Funds)
  • STEP Asia, Singapore (Fiduciary)
  • Guernsey Seminar, Hong Kong (Funds)
  • Guernsey Seminar, Shanghai (Funds & Fiduciary)
  • STEP Yorkshire, Leeds (Fiduciary)

December

  • Private Banking World, Middle East (Banking & Fiduciary)

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