Global uncertainty 'could present opportunities for Jersey'

Wednesday 29 January 2020

Jersey's attitude to business could give it the edge over other jurisdictions as the island seeks opportunities post-Brexit, according to speakers at Jersey Finance’s Annual Review meeting.

The event, which took place this month, highlighted that the island’s political stability and approach to regulation could be a strength at a time of geopolitical uncertainty.

Jersey Finance representatives explained Jersey’s ongoing commitment to economic substance and the opportunity to prove its success in the upcoming Moneyval regulatory assessment will be key to maintaining this reputation.

Pictured: Jersey Finance CEO Joe Moynihan.

Jersey Finance CEO Joe Moynihan highlighted that Jersey Finance’s main priorities from 2019 will continue to develop into 2020, including a focus on the growth markets of Africa, the US, Far East and Middle East. By doing this, as well as keeping an eye on FinTech developments, he said the island should be able to present itself as a "one-stop shop" for clients.

"Through working together with our counterparts in the JFSC, Government and Digital Jersey, as well as Jersey Finance representatives globally, 2019 clearly yielded very positive results for us as a leading International Finance Centre," Mr Moynihan said.

"It’s certainly a time of global upheaval and geopolitical uncertainty, but this has in fact provided Jersey with an opportunity to reach out and offer its expertise and flexible product offering to stakeholders across the globe who desire stability and strength."

Last week, Jersey Finance held its Annual Review 2019 event showcasing how our innovative and collaborative attitude to business is giving Jersey a competitive advantage ahead of other jurisdictions. View a summary of our industry's 2019 highlights here: https://t.co/OkKM4oeQ4X pic.twitter.com/YE4UI7ppMO

— Jersey Finance (@jerseyfinance) January 28, 2020

He continued: “The coming year will build on this reputation as well as looking to further innovate and digitise our offering as an industry, making business swifter and easier for international clients. We’re seeing growth in the funds market and have several funds masterclasses taking place in London and internationally, and our private wealth industry is experiencing strides through our unique family office offering, which is attractive to clients worldwide. I have no doubt 2020 will see significant opportunity for Jersey and I look forward to being part of this upward trajectory.”