Jersey's commercial ties with countries in the Gulf region
are strong. Jersey Finance's office in Abu Dhabi, established
in response to increasing requirements from both corporate and
private clients for international and cross border financial
services, is clear evidence of Jersey's commitment. Recently
two banking professionals from Qatar completed an Internship
Programme in Jersey developing relationships between jurisdictions
in the Gulf further still.
Ahmed Al-Anqar, based at the Qatar National Bank, and Fahad
Hiiji, who works at the Commercial Bank of Qatar, visited Jersey
for six months to observe first-hand how businesses operate here
and to discuss where there might be synergies between the two
jurisdictions. The pilot programme was the result of discussions
between Jersey Finance, the Qatar Financial Centre and the Qatar
Financial Business Academy. Three firms hosted the interns -
Hawksford, HSBC and JTC Group.
The interns spent a significant time at wealth structuring
business Hawksford, where they worked within three client services
teams – Hawksford Funds, Hawksford Fidicuary and Hawksford
Private Office – and in other departments including Risk,
Governance and Compliance and Marketing. They were given an insight
into Hawksford's marketing and business development strategy,
the standards and procedures adopted for reviewing potential
opportunities and the service levels that the firm's client
HSBC hosted the interns for a period of seven weeks. Their time
was divided between the Business Development and Wealth teams in
London and the HSBC Expat head office in Jersey. The interns gained
an insight into the workings of various departments and teams,
including the 'Relationship Managers Customer Experience'
department and the HSBC Middle East team, and they also visited
local branches and the commercial centre.
The interns time at JTC Group was spent predominately in two
departments - Private Client Services and Corporate Services. Work
shadowing sessions with senior managers provided overviews of the
business areas, client portfolios and processes, whilst meetings
with the Managing Director and Director of Human Resources and
Operations served to give a greater insight into JTC group's
vision, culture and strategy.
Both the interns and the teams at the participating firms gained
a great deal from the programme. Not only did it provide the
opportunity to exchange knowledge at jurisdictional and business
levels, it also enabled the participants to gain greater
understanding of cultures in which both parties operate.
The interns thoroughly enjoyed the time they spent in Jersey,
learning a great deal about business practices and building an
excellent network of contacts. They were especially impressed with
the number of companies and financial institutions based in Jersey
and their diverse client bases, particularly in terms of Middle
Sean Costello, Jersey Finance's Chief Representative Officer
for the Gulf Cooperation Council and India, based in Abu Dhabi,
commented, 'Qatar and Jersey have strong links already, across
the spectrum of regulatory, financial services and private
investment management. This knowledge exchange programme is serving
to reinforce those connections even further, for the future
prosperity of both jurisdictions.'
It is hoped that this pilot internship programme will be the
first of many between Jersey and countries in the Gulf region.
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