Investec’s chief economist, Philip Shaw, will look back over the first year of the UK’s coalition government at a breakfast briefing next month.

Mr Shaw will be discussing the first 12 months of the UK coalition government and providing delegates with an opportunity to review what has happened in the UK and global economies since May 2010. He will also look at the austerity measures introduced in the coalition government’s first budget and how these could impact offshore financial centres such as Jersey.

Mr Shaw is regularly interviewed on television and frequently quoted in the national and regional press on economic issues and is a regular commentator on the state of the economy and generally on business.

‘The Channel Islands are by no means exempt from the impact of the deficit and spending cuts brought about by the coalition government when it announced its first budget in August 2010. At the breakfast seminar next month, I hope to provide clarity about what has happened in the UK and global economies since the takeover, and the effect this will have on financial services operators in Jersey,’ he said.

Mr Shaw began his career with in Investec Private Bank in 1997 in London and covers both UK and global economic issues. He has devoted much of his time to working in Investec’s Capital Markets area but has been part of the Investec Securities’ team for the past seven years.

Before joining Investec Private Bank, 49-year-old Mr Shaw, who is married with two children, was chief economist at Union Discount where he gained particular expertise in interest rate markets and central bank watching. He started his career with The Government Economic Service and then worked for Barclays as an economist. He has an economics degree from the University of Bath and a Masters degree in econometrics from the University of Manchester.

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Issued by Lisa Gutcher, One Strategic, (01534) 488999 or email lisa@one-strategic.com

Notes to the Editor:

The media are invited to attend the briefing, which is titled ‘The consequences of the UK general election’, and will take place on Thursday 30 March at The Royal Yacht in the Celestial Hall. Registration opens at 8am, a continental breakfast briefing will be served at 8.30am and the presentation will take place at 9.15am. If you would like to book a place please contact Lisa as above.

Investec Specialist Private Bank offers offshore services focussing on: Banking Services, Specialised Lending, Structured Property Finance, Growth & Acquisition Finance, Wealth Management and Trust and Fiduciary services.

This press release is issued on behalf of Investec Bank (Channel Islands) Limited which is licensed by the Guernsey Financial Services Commission. Registered Address: La Vieille Cour, St Peter Port, Guernsey, GY1 3LP. Registered Number: 5845.

Investec Specialist Private Bank offers offshore services focussing on: Banking Services, Specialised Lending, Structured Property Finance, Growth & Acquisition Finance, Wealth Management and Trust and Fiduciary services.

Investec Specialist Private Bank has developed a real affinity with the entrepreneurial class and our experience places us right at the heart of this unique business community. We have created an environment that helps make things happen: propelled by a successful track record and market-leading expertise within an environment of security, discretion and confidentiality.

This press release is issued on behalf of Investec Bank (Channel Islands) Limited which is licensed by the Guernsey Financial Services Commission. Registered Address: La Vieille Cour, St Peter Port, Guernsey, GY1 3LP. Registered Number: 5845. The Jersey Branch of Investec Bank (Channel Islands) Limited is regulated by the Jersey Financial Services Commission to carry on deposit taking business under the Banking Business (Jersey) Law 1991, as amended. The Jersey Branch registered address is One The Esplanade, St Helier, Jersey, JE2 3QA.

Investec Bank (Channel Islands) Limited is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for “qualifying deposits” up to £50,000, subject to certain limitations. The maximum total compensation is capped at £100,000,000 in any 5 year period. Full details are available on the Scheme’s website www.dcs.gg or on request. Deposits made with the Bank, whether in Guernsey or Jersey, are not covered by the Financial Services Compensation Scheme under the Financial Services & Markets Act 2000 of the UK.

Interest is paid gross (without the deduction of tax) unless clients are EU resident where tax regulations pursuant to the EU Savings Tax Directive apply. Copies of the Annual Report and Accounts are available for inspection at its registered office in Guernsey and Jersey. Telephone calls may be recorded and monitored for training and security purposes.

For further information on Investec Bank (Channel Islands) Limited and its range of products and services please visit www.investec-ci.com or call +44 1481 723 506.

This document has also been approved by Investec Bank plc (Reg No. 489604) which is authorised and regulated by the Financial Services Authority. Registered address: 2 Gresham Street, London, EC2V 7QP.