Guernsey Finance, the promotional body for the island's financial services industry, has appointed its first dedicated representative in South Africa.
Grant McLeod has spent more than 20 years in financial services in South Africa, particularly in private wealth, with companies including Ashburton and Barclays Private Wealth.
He will look to build on significant developments made by Guernsey in South Africa over the past few years, in areas including investment funds and private wealth, through open-ended fund structures, trusts, pensions and other vehicles. He will also promote the island more widely in sub-Saharan Africa.
"I am really excited to be joining Guernsey Finance and being involved in Guernsey's continued development in this region," said Mr McLeod.
"Guernsey is a jurisdiction well known to most South African investors, and my role is to continue to reinforce Guernsey as the jurisdiction of choice among the South African investment community.
"Having worked in the South African markets, and having assisted South African clients to invest outside their home jurisdiction, helping to connect South Africa with Guernsey across all sectors comes naturally to me and I'm looking forward to explaining the positives that Guernsey has to offer our market."
Grant McLeod, South Africa Representative, Guernsey Finance
James Crawford, Director of International Business Development at Guernsey Finance, said Mr McLeod's appointment in the country was an important move for Guernsey.
"Guernsey's key strengths of security, stability and substance have resonated really strongly in South Africa on the visits we have made in the past few years, pre-Covid," he said.
"It is clear that Guernsey is now a key jurisdiction for wealth managers in South Africa for funds, trusts, pensions and other corporate structures. Grant will give the South African market a more consistent Guernsey presence and ensure that Guernsey solutions remain front of mind for clients and their advisers."
James Crawford, International Business Development Director, Guernsey Finance
Guernsey has long been regarded as a leading financial services market for South Africa in investment funds and private wealth. There as already 28 registered South African-based companies operating in the island, including Investec, Ned Group and FNB Bank.