Guernsey: Guernsey Remains The Leading Specialist Finance Centre In Europe
Last Updated: 8 November 2012

Guernsey has been placed first in Europe and second globally in the latest rankings of specialist finance centres published by trade title The Banker.

The magazine is part of the Financial Times group of business publications and it annually produces a supplement which ranks international finance centres.

Guernsey has maintained its position from last year which means the Island stays second behind the Cayman Islands in the rankings of specialist finance centres. Jersey remains fourth and the Isle of Man has moved up a position, from seventh to sixth.

Fiona Le Poidevin, Chief Executive of Guernsey Finance - the promotional agency for the Island's finance industry, said: "It is very pleasing to see that we have maintained our position as the leading specialist finance centre in Europe and second globally, especially as this comes in such a well respected publication and is based on economic and financial data supplied by each of the jurisdictions.

"Last year we had moved up two places and this reflected the fact that the Island was proving more robust in the face of the global financial crisis and its aftermath than many of our competitors. Similarly, maintaining our position this year shows that overall we are showing stability at a time of continued uncertainty in the global economy.

"Indeed, the underlying figures show that our score improved more than any of those centres immediately below us in the rankings and so, in fact, we have not just held but actually extended our lead over Jersey and the Isle of Man."

The Banker has a different ranking system for international finance centres where New York remains top, leading an unchanged top five also comprising London, Singapore, Frankfurt and Hong Kong.

There is a separate table and data collection process for specialised financial centres. These rankings are based on a consistent set of data set supplied by each centre and principally statistics for the value of each sector of the finance industry to the end of 2011.

All the results are published within the International Finance Centres feature within the September 2012 issue of The Banker.

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