Guernsey Finance is delighted to announce that it will open a
representative office in Hong Kong in the first quarter of next
The office will be the promotional agency's second overseas
outpost, in addition to its Shanghai office which opened in
Guernsey Finance China Representative, Wendy Weng, who is based
in Shanghai, will use the office as a base from which to carry out
further promotional activities concentrated on the wider South East
Asia market and it will also be utilised by the Guernsey Financial
Services Commission (GFSC) to provide regulatory advice to those in
the region who might be considering Guernsey-specific ventures.
The central location at Three Pacific Place in Admiralty ensures
Guernsey Finance is well-positioned to meet with Hong Kong-based
practitioners and others from around Asia.
Dominic Wheatley, Chief Executive of Guernsey Finance, said:
"The Hong Kong office is an exciting development not only for
Guernsey Finance, but also the Island's financial services
sector which has a growing interest in the region. We believe that
establishing a larger presence in Asia reflects current industry
trends and is fundamental to our future strategy, particularly as
Hong Kong is such an important hub not only for China, but South
East Asia overall."
The expectation is that the office will be operational during
the first quarter of 2016, with a formal launch event and a
Guernsey-hosted masterclass scheduled to take place in Hong Kong
during the first week of March.
"Full details of the events will be announced in due
course, but it is important for those in the South Asia market to
be aware that the office will be 'open for business' before
then, most likely by the end of January," said Mr
Guernsey's Commerce and Employment Minister, Deputy Kevin
Stewart, welcomed the announcement, highlighting the fact that Hong
Kong was one of the world's top financial centres.
"We are delighted that Guernsey Finance will have a
physical presence in Hong Kong which, in conjunction with the
Shanghai office, will assist the Island's finance sector in the
promotion of its services in the region and reflects the priorities
set out in the government's finance sector strategy," said
"Hong Kong is regarded as a key global financial location
and this is a significant step in Guernsey's ability to attract
new business from the region on the basis of its reputation as a
well-regulated, compliant and cooperative international finance
David Oxburgh, Deputy Chairman of the Guernsey International
Business Association (GIBA), said: "As one of the main
shareholders in Guernsey Finance, GIBA has been encouraging
Guernsey Finance to widen its international reach. Following on
from the recent appointment of a representative in the Middle East,
the establishment of the office in Hong Kong is another important
step in this direction which should assist with the further
development of businesses from this important centre and the region
John Dunford, the GFSC's current Deputy Director for
Authorisations, will relocate to the region at the start of next
year to act as the regulator's representative in Hong Kong.
Director General of the GFSC, William Mason, said: "We
recognise the potentially significant benefits of this initiative
which should improve the Bailiwick's understanding of the
important Asian markets and how we might work constructively with
them. The Commission's involvement is in providing an
experienced regulator with extensive technical knowledge and
expertise to give guidance to law firms, other professionals and
their clients on how the Bailiwick's high regulatory standards
Observing a recent discussion between the children of a successful entrepreneur, I was reminded once again of the potential impact of family members being provided with differing information about the family enterprise.
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