Guernsey: Guernsey Spreads Funds And Trust Messages Across The UK

Last Updated: 19 November 2008
Most Read Contributor in Guernsey, September 2018

Guernsey is stepping up the promotion of its funds and trust excellence within the UK's major financial centres.

The Island has been particularly active in spreading its messages within the City of London and is now increasing its work to reach professionals in the UK regions.

Peter Niven, Chief Executive of Guernsey Finance, said: "Given that London is such a key source of both new funds and fiduciary business for us it has been essential that we make a concerted effort to try raise our profile in the city. However, we are looking to maximise our flows and particularly important to this process is opening up new streams of business. That is why we are not just focusing on London but also stepping up the promotion of our funds and fiduciary offering within the other major financial centres of the UK."

The Island has followed up last year's Guernsey Funds Masterclass in Edinburgh by staging a Guernsey Private Equity Dinner Debate in the city last month.

It was held at the Caledonian Hilton Hotel where the keynote speaker was Alastair Maclean, Partner, Maclay Murray and Spens LLP. He was joined by Guernsey industry experts including Tony Mancini, Tax Director, KPMG CI and Mark Huntley, Managing Director, Heritage International Fund Managers.

Mr Huntley said: "Our visit to Edinburgh last year gave us the opportunity to showcase Guernsey's funds industry and at the same time strengthen our links in Edinburgh. This was such a success that a return visit was viewed as essential.

"This year we were able to reinforce our messages through an interactive debate on Guernsey's expertise in private equity following on from the successful visit in 2007 focussed on property. The evening was very well received and enabled us to build on existing relationships to such an extent that we, and I think other Guernsey practitioners also, have additional business in the pipeline as a result."

Mr Niven added: "Such has been the positive response in Edinburgh that a visit will definitely be a regular feature on our funds calendar. That will be joined by other centres such as Manchester and Leeds where again we laid down foundations last year and are now looking to enhance these in 2009.

"On the fiduciary side we have again been very active in London, for example earlier this year we held a Masterclass on the new Guernsey Trust Law. Now we are looking to also take our message to the UK regions and this will start with us hosting an event in Bristol early in the new year."

Statistics

The latest figures from the Guernsey Financial Services Commission (GFSC) show that total funds business in Guernsey was worth £201.4bn at the end of September 2008.

Guernsey has some 150 licensed fiduciary providers who together hold between £250bn and £300bn worth of assets in trust.

For more information about Guernsey's finance industry please visit www.guernseyfinance.com

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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