Guernsey has solidified its position as one of the top three specialist financial centres in the world in the latest global rankings issued by trade title The Banker.
The magazine is part of the Financial Times group of business publications and annually produces a supplement which ranks international finance centres. While Guernsey has maintained its position from last year, which means the Island stays third behind the Cayman Islands and Jersey, the rankings show that Guernsey has closed the gap on both of those jurisdictions. Indeed, Guernsey has seen the third biggest increase in its score out of all 14 specialist finance centres ranked by The Banker. Only Mauritius and the Isle of Man, who moved up to fifth and sixth in the rankings respectively, saw a greater increase in score than Guernsey.
Fiona Le Poidevin, Chief Executive of Guernsey Finance - the promotional agency for the Island's finance industry, said: "It is very pleasing to note that we have seen the biggest increase in score of any of the top four jurisdictions, and have therefore solidified our position within the top three specialist finance centres globally. Guernsey's finance industry is performing strongly across a number of sectors so these rankings go some way towards reflecting what we are hearing anecdotally in the marketplace.
"As is the case with many ranking surveys you have to be careful not to read too much into them. They are not a definitive guide to the health of each financial services industry because of their varying methodologies, but the scores compiled by The Banker are based on economic and financial data supplied by governments, regulators and stock exchanges in each of the jurisdictions and are therefore very informative."
The Banker has a different ranking system for international (as opposed to 'specialist') finance centres where London remains top, ahead of New York, Singapore, Hong Kong and Dubai. All the results are published in the International Finance Centres feature within the October 2014 issue of The Banker.
For more information about Guernsey's finance industry please visit www.guernseyfinance.com.
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