A specially produced book is launched this week as part of a series of activities and events planned to mark the fiftieth anniversary* of the Jersey finance industry.

“Jersey – First for Finance for Fifty Years” is published by the Times Group and includes contributions from Dr Jeffrey Owens, Director for the Centre for Tax Policy and Administration at the OECD; Angela Knight, CBE, Chief Executive, British Bankers Association; Avinash Persaud, economist and Emeritus Professor, Gresham College and Mark Boleat, Deputy Chairman, Policy & Resources Committee, City of London. 

The Rt Hon Lord Mayor of London, Michael Bear, provides the preface, the Bailiff Michael Birt writes about Jersey’s unique constitution and there are articles from many of Jersey’s leading politicians, law professionals and senior finance industry figures.  

The commemorative coffee table style book is supported by Jersey Finance who assisted with editorial content, but has required no funding from them, since the publishers were able to raise advertising to meet the cost of publication. The 200 page outsize A4 format book in full colour has a unique feature on fifty Islanders from 50 years of finance, each of whom made a significant contribution to the development of the industry during some of those five decades. John Willman, former Financial Times UK business editor has acted as consultant editor and the book’s overall editor is Wayne Fessey (former editor of the City’s annual review, The Square Mile) of the Times Group publishers. 

The book is only the first of a series of initiatives and events to take place this year which will acknowledge the 50-year milestone, with a focal point for activity arranged during a week in September. Projects include:

 
  • a gala charity ball
  • a new educational module for schools
  • a partnership with parish communities
  • commemorative stamps
  • a photographic exhibition charting 50 years of finance

On 9th September Jersey Finance is planning an anniversary gala charity ball when it is hoped that significant funds will be raised for a variety of local causes. Meetings are also taking place with the parish authorities to discuss how finance industry Members might adopt a parish and help fund specific projects.

On 12th September, Jersey Post will launch a specially designed commemorate gift pack of stamps, ideal for use as corporate gifts and for collectors.

Also in September, a new learning module, to inform students about the growth and achievements of the finance industry, will be made available as part of the Jersey Finance School Roadshows, which are organised in secondary schools and include presentations and workshops about the role of the industry.

A photographic exhibition is planned with the display likely to be first shown at the Jersey Airport Departures Hall in April.

A 50th anniversary logo has been designed to commemorate the events and activity undertaken this year and it features on the front of the new colour book. A copy of the book can be accessed through Jersey Finance’s website at www.jerseyfinance.je/News/Publications/

Geoff Cook, Chief Executive, Jersey Finance Limited, commented:

‘Considering the size of Jersey and the huge competition for global financial business, I hope all Islanders can take pride in the achievements of our finance industry in establishing itself as such a prominent provider of financial services and the major contributor to the long term success of the modern Jersey economy. This year we hope to reflect on the achievements of those fifty years and use the anniversary as a way of promoting the robustness and durability of the industry. Many of our finance industry Jersey Finance members’ already make substantial contributions to the community each year but to mark the anniversary, we are hoping that collectively we will be able to offer additional support to charitable causes and to a number of parish projects.’

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*Background Note to Editors

1961 was the year when the modern industry emerged following a move by the President of the Finance and Economic Committee, Senator Cyril le Marquand, to abolish an old law which limited the interest rates to be charged on loans to a maximum of five per cent. Once this law was repealed, merchant banks were attracted to Jersey’s commercial environment and in December 1961, Hill Samuel incorporated a Jersey subsidiary and Kleinwort Benson were not far behind. The history of the industry is outlined in further detail in the new colour book, principally in an article from Colin Powell, CBE, Adviser on International Affairs to the Chief Minister’s Department.

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For further information, please contact Mike Sunier or Adam Riddell at Crystal Public Relations on tel. +44 (0) 1534 618613 or e-mail mike@crystalpr.co.uk