The Chief Minister met with professionals working in the funds industry to discuss Jersey’s appeal and progress in this area since the launch of our New York office in 2019. The recently published Monterey Jersey Fund Report 2021 has revealed that the number of Jersey-domiciled funds by US promoter origin rose by 17.8% between 2020 and 2021, and that assets by US promoter origin have increased by 22.3% over the past 3 years.
In his first official visit to the USA since the start of the Covid-19 pandemic, Senator Le Fondré also met with US Commercial Services officials and representatives from the British Consulate in New York. He then travelled on to New Jersey and Washington DC. The Chief Minister was in New Jersey to strengthen the Island’s historical links with the State, including Trenton, the State capital, which signed a twinning agreement with the Parish of St Helier in 2019. In Washington D.C., the Chief Minister engaged with diplomatic and political communities in the Capital, before taking part in a business roundtable to discuss how Jersey can increase its import and export capacities to the United States.
Senator Le Fondré said: “Jersey and the United States share a significant historical and cultural relationship that spans centuries. I’m delighted to be in the US this week to support the development of this relationship and to reconnect with some key stakeholders we have been unable to meet since the start of the Covid-19 Pandemic.
“An important objective of this visit is to further develop the close relations we enjoy with New Jersey. In addition, today I’m meeting representatives from Jersey Finance Member firms with a presence in New York. Jersey Finance is doing excellent work in driving growth and increasing the visibility of Jersey in financial services, and it is vital we support their work in New York, particularly given the growth of the Funds market in Jersey.”