Jersey has secured a third international award in 2012 as the ‘outstanding international wealth financial centre’ in the Private Banker International Awards.

Zhaoan Li, Jersey Finance’s Head of Business Development Greater China, received the award in a prestigious awards gala ceremony in Singapore this week (Wednesday October 24)

Nicholas Moody, editor of Private Banker International who was on the judging panel, described Jersey as at the forefront of efforts by international finance centres to innovate, signing 29 Tax Information Exchange Agreements, the most recent one with India. He said;

‘In just over a year since the opening of an office by Jersey Finance in Abu Dhabi, as part of its drive to secure business in new markets, Jersey has seen an 11 per cent increase in the amount of bank deposits from the Gulf with a total of £21.2 billion at March 2012. It is the highest rated offshore jurisdiction in the latest global Financial Centres Index and makes it into the world’s top twenty global finance centres.’

One of the leading journals for the global wealth management industry, Private Banker International was launched in 1987 and is the longest established international wealth industry title. It hosts an annual series of awards with winners chosen following a rigorous selection process. Nominations are sought from industry professionals including the readership of the publication. Nominees are short listed and a panel of judges assesses each entry and chooses the various winners.

 

Zhaoan Li, who also attended the magazine’s private banking conference held in Singapore the same day, thanked the magazine and judges when speaking after receiving the award. She told Singapore based finance professionals who attended the gala:

‘Although Jersey is many thousands of miles away from Asia, it is our proximity to Europe which is important. Jersey is acting as a gateway to international investors, including those in Asia, wanting to invest in the City of London and Western Europe. We continue to expand our international presence and I’m pleased to say that a number of Jersey based firms also have offices and practitioners working here in Singapore.’

Geoff Cook commented:

‘It is the third time that Jersey has been recognised in 2012 with an award for the quality of its financial services industry and on this occasion we had the additional bonus that this was a truly international award with the presentation taking place in one of the leading and rapidly expanding financial centres in Asia.’

In the summer Jersey was judged as the ‘best offshore centre’ in the annual investment management awards organised by Global Investor magazine, part of Euromoney and it also secured the award of ‘best international finance centre’ at the International Fund & Product Awards organised by Incisive Media.