Jersey Finance has promoted Allan Wood to the position of Global Head of Business Development.

In his new role, Allan will take on responsibility for overseeing the promotion and engendering a better understanding of Jersey as a leading international finance centre across key strategic overseas markets including Africa, the Gulf region, Greater China, the US and the UK.

Working together with Jersey Finance’s team of overseas representatives, he will manage efforts to encourage and develop business in their respective markets, including event programs and delegation visits, and supporting members in those regions.

Whilst Allan will maintain responsibility for Jersey Finance’s South Africa activity, as well as Africa activity through London, Faizal Bhana, who was appointed Director – Middle East and Africa last year, will assume more exposure to the wider Africa market including activity in Kenya and Nigeria.

Allan joined Jersey Finance in 2015 as Business Development Director, before being promoted to Regional Head – West, where he was responsible for overseeing the Africa, US and UK markets. Prior to Jersey Finance, Allan spent five years with Barclays in Jersey, where he was Vice President and leader of the Jersey International business within Barclays Wealth & Investment Management division. Before this, he spent 20 years with Royal Bank of Scotland.

A keen runner in his spare time, Allan successfully completed the London Marathon in 2014 and 2016, while he is also Chairman of The Grace Crocker Family Support Foundation and a Director of Jersey 2 Africa 4 Football Foundation.

Allan’s promotion follows the departure of Richard Nunn this month as Regional Head – East. Over the past six years he has been instrumental in advancing Jersey’s reputation overseas, particularly in the Gulf region as is reflected in the opening of Jersey Finance’s office in the DIFC in 2018.

Commenting on Allan’s appointment, Joe Moynihan, CEO, Jersey Finance, said:

“Compared to other IFCs, Jersey has a formidable reach into a broad range of overseas markets, and that has been made possible thanks to the foresight of Jersey’s government who more than a decade ago set out a strategic vision that would help diversify our industry.  We are really seeing the benefits now of being so forward-thinking, with around half of all new business now coming from outside of Europe. With his considerable experience of working with international markets, Allan will be absolutely vital in maintaining this drive forward.”

“I would also like to thank Richard for his contribution over the past six years. He has been a true ambassador for Jersey and we wish him every success in the future.”

Commenting on his appointment, Allan said:

“I am delighted to lead the excellent business development team at Jersey Finance, one that represents the depth of talent to be found within this leading international finance centre. With ever increasing mobility of international capital, it is vital that Jersey seeks out fresh opportunities and new markets while continuing to invest in the strong relationships that have served us so well within the UK, particularly the City of London. I look forward to working with Member firms and colleagues to stimulate increased business for the jurisdiction and continue to reinforce the view among international practitioners of Jersey as a well-regulated and respected international finance centre.”