Welcome message from Joe Moynihan, Chief Executive Officer, Jersey Finance
Strategies for a world in transition
Welcome to the Jersey supplement to the STEP Journal, now in its sixth year.
This year, the articles in the supplement were written while mindful of the familiar backdrop of global turmoil, unpredictable markets and rapid change, all factors that continue to have a telling impact across the financial services industry.
For the wealth management community, the volatile geopolitical environment ensures there remains a significant emphasis on compliance and
good governance, while there are always greater regulatory demands to build into our thinking.
I’m delighted at how well Jersey has responded and positioned itself to support the private wealth sector. Adopting best practice in financial regulation has long
been fundamental to how we operate as a jurisdiction and we have been swift in implementing international standards, securing endorsements from bodies such as the OECD and the IMF.
However, it is equally evident that if international finance centres are to remain competitive, stability and security must become watchwords to be embraced and nurtured over the long term.
Flagship
This is one of the themes that we delve into in this year’s supplement, which I am delighted is being launched once again at our flagship Private Wealth Conference in London, an annual event that now regularly attracts more than 400 delegates, mostly from the UK.
In fact, our lead feature examines the strategies that are necessary for the professional private wealth community to manage the current challenges thrown up at a time of complex, interconnecting crises in a world very much in transition.
The overriding themes of both our conference and this supplement are how high‑net‑worth individuals across the globe can protect their wealth, plan for long‑term growth and ensure
a successful transfer of their legacy, and the strategies that need to be implemented, through the lens of the current complex geopolitical situation.
We also consider where the industry might be in ten years’ time; cross‑border structures and the choice of jurisdictions; the impact of geopolitical risk on investment strategies and the client‑advisor relationship; and how the industry integrates sustainable finance into fiduciary duties. Finally, we touch on data stewardship, an innovative area for the global trust industry in which Jersey has taken significant strides this year.
Forward Thinking
The finance industry in Jersey continues to remain competitive and forward thinking, embracing the mainstream environmental, social and governance agenda and digital enhancements as part of an innovative culture, while deploying an expert workforce with a deep understanding of the trusts and estates market and cross‑border issues. Meanwhile, we remain true to our regulatory commitments and our high standards of governance as we pursue a globally focused outlook.
A very big thank you to STEP and to everyone who contributed to this special supplement.