Welcome to the Jersey supplement to the STEP Journal. We’re proud to be launching this publication to coincide with our annual flagship private wealth conference in London, which this year will focus on innovation, technology and artificial intelligence.
Jersey is ready to support a growing and complex wealth management landscape, and we are focussed on providing certainty in a changing global political landscape. In this supplement, you’ll see how we are working with digital partners, firms, Jersey’s government and the regulator to maintain and build on our first-in-class private wealth offering.
On innovation, Jersey has form. The world’s first ever regulated bitcoin fund was launched here in 2014. Indeed, our commitment to digital innovation – thanks to a close working relationship between government, Digital Jersey and the finance industry – sets us apart.
Dave Birch’s article on page 16 sums up Jersey’s digital proposition. I echo Dave’s sentiments: a financial services sector that is more efficient, effective and productive is an entirely reasonable vision for Jersey.
Meanwhile, Jersey continues to drive forward with legislative and regulatory innovation. In recent years, it has set out on a journey to create a robust professional environment for philanthropy. The Charities (Jersey) Law 2014 provides a framework for advisors to deliver world-class, global philanthropic solutions.
In terms of service delivery, the 13,000-strong workforce in Jersey’s finance industry have the expertise and knowledge to support the Island’s commitment to working with key stakeholders to map out a positive future in areas such as philanthropy and impact investing.
And we are ahead of the game in our overseas market activity. Increasing Jersey’s presence in growth markets is vital to ensuring the long-term success of the finance industry. Half of new business here now comes from outside Europe and the UK. We are also a ‘go to’ destination for high-net-worth clients and their advisors in the Middle East. And while the Middle East, Asia and Africa are markets we plan to visit extensively this year, we will complement this with an enhanced focus on the US.
Meanwhile, on the Island, Jersey Finance is working to promote careers in the finance industry and create ‘home grown talent’. We are certain that encouraging A-level students to undertake work placements is creating a sustainable talent pool.
A commitment to innovation; high standards of regulation; and a clear ability to grow our digital offering – all of this helps differentiate Jersey. Just a few of the reasons why I confidently say Jersey is, indeed, a Future Island.