A focus on Jersey’s competitiveness and stability, in response to heightened concerns amongst investors around geopolitical and market volatility, will be at the core of Jersey Finance’s strategy over the coming year, as outlined at the organisation’s annual Global Horizons update last week (1 February).
Speaking at the event, the senior team at Jersey Finance highlighted some of the key achievements from the past 12 months to an audience of close to 200 from across the industry, financial services regulator, and Government, and set out the major areas of focus for the coming year.
As well as delivering their own presentations, speakers – including Chairman Jason Laity, CEO Joe Moynihan, Deputy CEO Amy Bryant, Head of Legal and Technical Lisa Springate, Global Head of Business Development Allan Wood, and Head of Marketing Louise Burrows – also took part in a panel session answering questions from the audience.
Looking forward, the team pointed in particular to this year marking the launch of a new four-year business plan, which will see Jersey Finance address a number of priorities for the year ahead, including:
• Focusing on Jersey’s competitiveness in a rapidly changing IFC landscape
• Emphasising Jersey’s stability against the backdrop of investors becoming increasingly concerned about global uncertainty
• Honing Jersey’s overseas market strategy, including focusing on the US as a priority and rapidly growing market
• Supporting firms along their technology adoption curve
• Continuing to embed sustainable finance into all areas of Jersey’s proposition aligned with the UN’s Sustainable Development Goals (SDGs)
• Continuing to nurture forward-focused talent through a ‘Future Fit’ workstream
In addition, the event also saw the launch of a new Jersey Finance app which can be downloaded now and aims to give stakeholders a more personalised experience, while the team also announced plans to publish research focusing on the impact of AI on the finance industry and pointed to key enhancements on the horizon around trust and company law, the Jersey Private Fund guide and further consultation around open banking.
Commenting on Jersey Finance’s 2024 plans, CEO Joe Moynihan said:
“2023 was another good year of consistent growth across our industry, but the indications are clear that going into 2024 we need to remain agile and innovative. Concerns around geopolitical instability have moved to the top of the agenda amongst investors and gatekeepers, so it’s critical we focus on the stable environment Jersey can offer against that backdrop. It’s also an increasingly competitive market, and what we are seeing is other centres trying to replicate what we already have in place – which is why we have set out ‘competitiveness’ as a new dedicated workstream this year, so we can stay ahead of the game.
“While we need to retain our core message of stability, we also need to be proactive and innovative. That will see us really focusing on our proposition and what sets us apart from other IFCs – our fintech and sustainable finance capabilities, new areas like AI and open banking, enhancements to our regulatory and legislative environment, and maintaining momentum in our priority overseas markets, including the US, Asia, and Middle East. If we can balance that core message of stability and deliver on our commitment to innovation, we will remain a highly attractive partner jurisdiction for global financial services.
“When we reflect on all of the great work we’ve achieved and what we plan to do in 2024, I’m reminded why we are doing all this. Our purpose and the value we add. Yes, it’s about driving positive impact in markets around the world. But it’s also about something much closer to home – supporting firms here in Jersey and helping them to thrive.”
You can now view all of the photos from the event on our Flickr account.