An enhanced US market strategy, a focus on service innovation and a renewed emphasis on skills development will all form part of Jersey Finance’s plans for the coming year, according to speakers at the organisation’s annual Global Horizons update this week (28 January).
As well as highlighting key achievements from the past year, including the publication of a successful MONEYVAL report, the senior team at Jersey Finance also pointed to their priorities for 2025 to an audience of more than 200 attendees from the industry, financial services regulator, government and wider business community at the event, held at the Radisson Blu Hotel.
Through a series of updates from Jason Laity, Chairman, Joe Moynihan, CEO, Amy Bryant, Deputy CEO, Lisa Springate, Head of Legal and Technical, Chris Jenkins, Global Head of Market Development, and Louise Burrows, Head of Marketing, the team outlined in particular an evolution of Jersey Finance’s overseas markets strategy, including an enhanced programme of activity in the US market this year.
The new strategy will for the first time bring Jersey’s well-established private wealth proposition to US private investors and families – a strategy that builds on successful efforts in recent years to boost Jersey’s visibility specifically as a high-quality centre for fund services.
Against the backdrop of an international financial services marketplace that is increasingly competitive, the team also emphasised the importance of maintaining a focus on innovation with a view to delivering cutting-edge solutions to investors, businesses, asset managers and governments – including in the areas of tokenisation and digital assets.
In addition, the team pointed to the need to focus closer to home on building a resilient and highly skilled workforce. Highlighting the success of its school outreach activity in 2024, they outlined plans to expand the ‘Future-Fit Workforce’ programme and specifically its Reconnect initiative, with a view to supporting more local people looking to rejoin or reskill to pursue a career in financial services.
Other key areas of focus in 2025 will include:
- Enhancing Jersey’s service proposition, including exploring opportunities in the insurance sector
- Accelerating fintech maturity among finance firms
- Evolving Jersey’s sustainable finance credentials, including through a new Sustainable Finance Summit in March
- Focussing on the impact of the industry in the local economy and community, including through a new ‘Greening Jersey’ initiative which aims to bring the industry together to help rewild areas of Jersey’s natural landscape.
Commenting on Jersey Finance’s plans for 2025, CEO, Joe Moynihan said:
2024 was a year of relentless challenges, from market conditions to geopolitics, and what that highlighted was just how important our platform of certainty and stability is. As we look forward to 2025, that state of ‘permacrisis’ on the global stage will persist and it’s important that we continue to shout about our high-quality, stable service proposition.
The successful outcome of our latest MONEYVAL assessment has given us a fantastic platform on which to build, and it’s critical we continue to push forward and deliver innovative solutions to the market.
“In that light, I’m really pleased that we will be significantly enhancing our visibility in the US market this year, bringing our wealth expertise to a significant and growing market. We’re also ramping up our sustainable finance activity, elevating our tokenisation and digital assets capabilities, exploring new opportunities in the insurance space and ensuring we remain an easy place in which to do business. All of this will help differentiate us as an IFC.
“We’re also conscious of the role the industry plays locally, and I’m pleased that we will be supporting a number of community projects this year, including the new Greening Jersey initiative, as well as bulking out our plans to support those looking to work in finance, from school leavers to experienced career switchers, in order to build a resilient workforce.”