Jersey Finance Announces its 2019 Priorities Including Overseas Focus
Exploring future opportunities and embedding Jersey’s reputation in overseas markets are key priorities for Jersey Finance, according to speakers at the organisation’s Annual Review event held yesterday in Jersey.
Addressing around 300 industry professionals CEO Geoff Cook, who leaves Jersey Finance next month, highlighted that in particular a new office in New York anticipated to open later this year would position Jersey perfectly to capture a burgeoning US institutional investor market looking to access European opportunities.
In addition, in a panel session, Jersey Finance’s overseas business development team reported that there was already significant interest in Jersey’s recently launched International Savings Plan (ISP) product from Asian markets. The expectation, they suggested, is that the structure would significantly diversify Jersey’s proposition in Asia, particularly in the Gulf Region where Jersey is already considered the go-to international finance centre (IFC) for cross-border structuring.
Highlighting the recent opening of Jersey Finance’s office in the Dubai IFC and the fact that 2019 marks the 10th anniversary of its office in Hong Kong, the team also said it would focus this year on working with a broader range of partners across Asia, including in Singapore and Malaysia, in order to boost its ability to support mainland Chinese investors with their outbound ambitions and cross-border structuring.
Meanwhile, exploring opportunities to expand Jersey’s support to investors in Africa from private wealth to inbound and outbound institutional investment would continue in 2019.
Geoff Cook commented:
“The UK remains a key partner and Europe a vital market for Jersey, but the clear focus for Jersey is on expanding our global reach and diversifying our proposition in overseas markets. That is reflected in our activity this year.
It’s no accident that more than 50% of our business is done with markets beyond Europe now, and with our ramped up focus on Africa, a new proposition in the US and a clear commitment to innovation in Asia, we feel we are perfectly poised to capture the upside in our core markets and support the future demand for international capital flows.”
For a summary of Jersey Finance’s 2018 activity visit www.jerseyfinance.je/review18