Guernsey-based law firm, Walkers has welcomed ‘Bank Aston’ to the island – having advised its parent company on the creation of the new bank.
Chris Hutley-Hurst, the Regulatory & Risk partner for Walkers added: “Having worked with the Aston team on the formation and launch of their payments business in Guernsey, we were very pleased to assist on this milestone matter, which sees Aston launch one of the first new banks in Guernsey for a while, and the only bank to be headquartered here.”
Mr Hutley-Hurst continued: “From a Walkers perspective our role on the bank’s formation further demonstrates our highly technical regulatory, employment and corporate capabilities and we look forward to supporting Aston in the next phase of building out the new bank.”
Express previously reported that Bank Aston has secured its license from the Guernsey Financial Services Commission and plans to start operations in 2026, marking one of the first new banks based in the Bailiwick in recent times, and according to those involved, the only bank headquartered locally.
Walkers’ team, including lawyers specialising in regulatory, employment, and corporate law, provided legal guidance for the bank’s setup and operation.
Bank Aston’s CEO, Paul Gorman, said the new bank will provide essential banking services to offshore institutions.
“This is a very exciting development for Aston, which will allow us to provide much-needed banking support to offshore institutions, especially in Guernsey.”
Mr Gorman continued: “We were delighted to instruct Walkers to help us with the bank’s formation. We have a fantastic relationship with the Walkers’ team, having worked with them on various matters. We look forward to continuing to work together towards our full launch.”