Guernsey Finance has appointed two new members to its Board of Directors, as representatives of the Guernsey International Business Association.
Kate Storey is a Guernsey Advocate with over 22 years of experience as a commercial lawyer. She has spent the last 16 years in Guernsey practising financial services law, specialising in investment funds and financial transactions. Kate is also a prominent Guernsey insurance expert.
In addition to Guernsey Finance, she sits on the Executive Committee of the Guernsey Investment & Funds Association (GIFA) and the Market Development Committee of the Guernsey International Insurance Association (GIIA). She is immediate past Chair of the Guernsey Commercial Bar Association and the GIIA Pensions De-risking committee.
"I am delighted to be joining the Board of Guernsey Finance as I'm passionate about the success of Guernsey as an international finance centre," she said. "I am very much looking forward to representing Guernsey's finance industry in its target markets globally."
Paul Sykes has been instrumental in the development of Guernsey's insurance industry spanning captive solutions, Insurance Linked Securities and Guernsey's emerging reinsurance sector. He is Managing Director of Aon Insurance Managers in Guernsey – Europe's largest (re)insurance management company – which also includes the White Rock PCC and ICC companies. He originally trained with Royal Insurance (RSA), before setting up Aon's operations in Malta and Gibraltar.
Paul has chaired most of the insurance trade association and professional bodies in Guernsey and is currently the Deputy Chairman of the Guernsey International Business Association (GIBA). He holds a master's degree in Corporate Governance, is a Chartered Insurer and a Fellow of the Chartered Insurance Institute. Most recently he also became a Chartered Director with the Institute of Directors.
Paul said that he is excited to be joining the board at this time: "The finance sector has become ever more important to Guernsey as the predominant revenue engine of the Bailiwick. The industry provides benefits well beyond its own employees, through the trade it generates for other sectors such as transport, construction and hospitality businesses. The success of the finance sector is ever more critical at a time when headwinds abound in the shape of inflation, recession and a contracting active workforce in Guernsey. I hope to emulate some of the success we have achieved in the insurance industry in my wider roles with GIBA and now with Guernsey Finance."
Chief Executive, Rupert Pleasant, said that he was delighted to welcome them both to the board: "Kate and Paul each bring a wealth of knowledge and experience, not only in funds, insurance and law, but more generally throughout financial services too, which will be a huge asset to have within Guernsey Finance. I am really looking forward to working with them both and welcome their input and expertise to the board.
"I would also like to take this opportunity to thank our outgoing directors, Marie McNeela and Christopher Jehan, for their valuable contributions to Guernsey Finance during their time in the role."