Jersey’s innovative and collaborative attitude to business is giving it a competitive advantage ahead of other jurisdictions, particularly in light of Brexit, according to speakers at Jersey Finance’s Annual Review 2019 this week (23 January.)
The event, which took place at the Radisson Blu Hotel, welcomed more than 300 delegates who came to hear Jersey Finance representatives from across the world as well as the local Government, the Jersey Financial Services Commission (JFSC) and Digital Jersey provide their 2020 finance industry predictions.
Jersey Finance CEO, Joe Moynihan, highlighted that Jersey Finance’s main priorities from 2019 will continue to develop into the forthcoming year, namely its focus on growth markets such as Africa, the US, Far East and Middle East, harnessing the rapid evolution of digital and fintech developments and working closely with Government, Digital Jersey and the JFSC to ensure a consolidated, ‘one-stop-shop’ approach for clients.
A panel session moderated by Amy Bryant, Jersey Finance’s Deputy CEO, involving Senator Ian Gorst, Minister for External Relations, Tony Moretta, CEO, Digital Jersey and Martin Moloney, Director General, JFSC, discussed some of the key developments likely to arise this year, highlighted their commitment to increasing collaboration and outlined some of their own plans for 2020 which would impact positively on the finance industry.
In terms of Jersey’s place on a global stage, it was underlined that the Island’s regulatory strength and political stability is placing it at the forefront of investors’ minds at a time of geopolitical uncertainty. Jersey’s ongoing commitment to economic substance and the opportunity to prove its success in the upcoming MONEYVAL regulatory assessment will be key to maintaining this reputation, as was explained by Jersey Finance representatives.
Commenting on the event, Joe Moynihan said:
“Through working together with our counterparts in the JFSC, Government and Digital Jersey, as well as Jersey Finance representatives globally, 2019 clearly yielded very positive results for us as a leading International Finance Centre. It’s certainly a time of global upheaval and geopolitical uncertainty, but this has in fact provided Jersey with an opportunity to reach out and offer its expertise and flexible product offering to stakeholders across the globe who desire stability and strength.
“The coming year will build on this reputation as well as looking to further innovate and digitize our offering as an industry, making business swifter and easier for international clients. We’re seeing growth in the funds market and have several funds masterclasses taking place in London and internationally, and our private wealth industry is experiencing strides through our unique family office offering, which is attractive to clients worldwide. I have no doubt 2020 will see significant opportunity for Jersey and I look forward to being part of this upward trajectory.”