Jersey’s finance industry has further enhanced its reputation, winning best ‘International Finance Centre of the Year’ in the Society of Trust & Estate Practitioners (STEP) Private Client Awards for 2009/2010 in London earlier this week.

The Chief Executive of Jersey Finance, Geoff Cook and Head of Marketing, Dara Lutes, received the award at a prestigious ceremony at the Hilton Hotel on Park Lane, London on October 13th.

The STEP awards are judged by a panel of 14 experts in the UK, supported by a selection of more than 100 industry professionals worldwide. STEP’s judges decided that Jersey’s legislative and regulatory developments were the most impressive over the last year and commented:

“Jersey Finance has used the last year putting themselves back at the forefront of international finance with a number of important legislative and practical initiatives and a stronger framework for government and industry dialogue. In the IMF’s recent Financial System Stability Assessment Update, the Fund placed Jersey in the "top division" of finance centres and highlighted the effectiveness of its anti-money laundering rules.”

Geoff Cook commented:

“We are delighted that industry professionals working in the wealth management arena have been so impressed by developments in our finance industry and selected Jersey as the top international jurisdiction. The award is further endorsement of the Island’s supervisory and regulatory regime and highlights the unstinting efforts of Jersey’s, Government and the Regulator in meeting the challenges of an evolving global financial services industry.”