The event was organized in response to the increasing appetite for knowledge by the female Saudi attendees of Jersey Finance’s previous events in the country, and with the ever-growing number of female Jersey practitioners who visit and assist clients in the Kingdom. With the backdrop of the accelerated evolution of the Saudi landscape in this respect, the event represented a significant new beginning for the future of Jersey Finance, its collaboration with Saudi women, and the role these women play in their financial future.
With a focus on education and building more knowledge around key subjects, the event’s keynote speaker was Ida Beerhalter, the co-head of IOME, a Riyadh-based private investment partnership of women principals from the GCC region. A highly experienced and award-winning expert in many topics from investment in emerging markets, wealth management, succession planning, managing investment portfolios, and work with several international non-profits, Ida was welcomed enthusiastically by an inspired crowd who not only eagerly took in the information that she had to share, but were left wanting more.
Outside of piquing or deepening the attendees’ interest in her areas of financial expertise, Ida was also able to relate to the audience, with a panel of inspirational women alongside female financial professionals from Jersey, who could speak to the audience about the unique viewpoints women in the industry would encounter.
The event covered topics including: Learning about and managing finance as a woman; understanding offshore accounts, how to handle them, and the role they can play in our financial lifetime; wealth protection for the future and succession planning, and how to calculate the impact this would have on your own life and that of your children – in practical terms; social versus financial capital; living with newfound wealth; the impact of our children’s decisions – financial and otherwise – on both their own and family wealth; the impact of health on our wealth and finances; and investment wealth.
The increased appetite from Saudi women for such an event, along with the ever-growing volume of female finance practitioners from Jersey based firms now assisting clients in the region, is a significant reflection of the changing landscape in Saudi Arabia. The effect that these developments are having on a social level, along with the impact this is already having and will continue to have on its residents’ personal and professional wealth, is now evident – and not just for the women themselves.
Commenting on the sidelines of the event, Amy Bryant, Deputy Chief Executive Officer at Jersey Finance said: “As the Saudi landscape evolves, the increasing numbers of attendance and the level of enthusiasm displayed at such events indicates that more women are looking to become involved in business, their own finances and that of their family. Women are taking a much more direct and hands-on role in wealth management – or at least educate themselves more on the subjects – in the scope of both their personal and professional lives. This knowledge could also impact the approach that future generations may take towards their finances.”
“Jersey Finance set out to provide an educational evening and to deliver an event that was both relevant to women in Saudi Arabia and thought provoking, for those in the corporate world or otherwise. Given the success of this event, we will continue to find opportunities for women to meet with our practitioners to provide them with financial education and support,” she concluded.
The promotional body for the international finance centre of Jersey, the British Crown Dependency in the Channel Islands, Jersey Finance was established in 2001 to promote Jersey, and to support its position and work with foreign direct investment. Jersey proudly contributes 5% of the UK’s inward FDI, £14bn to the British Economy and creates 250,000 British jobs. The company aims to create a safe and secure environment for investors and families, and also works to help grow local and international companies. As a non-profit, Jersey Finance has neither product nor revenue, which enables them to invest their energies into simply building relationships both with key industry professionals, along with users of their jurisdiction – which in the GCC are typically families and their advisors.
As one of the jurisdictions that has been historically favoured by GCC families and corporates, Jersey Finance has increased investment in their activities in the region, in particular with Saudi Arabia. In recent years, they have collaborated with the British Embassy and in Riyadh and the British Consulate in Jeddah to host annual receptions to further raise awareness and provide opportunity to engage with Jersey practitioners directly. Their most recent event prior to this one, held in September 2017, attracted 145 guests.