New York office in the works for Jersey Finance

Friday 28 December 2018

Jersey Finance could soon expand across the pond with a new office in New York, if priorities expressed by the Treasury Minister come to fruition.

In her Transition Report for 2019, the Treasury Minister, Deputy Susie Pinel, mentioned the establishment of a Jersey Finance New York office as one of the priorities for Financial Services and Digital Economy.

The report sets out the transition to the Government Plan, which follows the adoption of the Common Strategic Policy. It sets out a series of objectives for 2019, which include "support arm’s length organisations with approval and implementation of growth opportunities." The project is still awaiting the full government green light before it goes ahead.

The news comes after Jersey Finance recently opened a new office in Dubai.

Pictured: Geoff Cook, Jersey Finance CEO.

Speaking of the New York plans, Jersey Finance CEO Geoff Cook commented: “There has been clear growth in new fund and downstream corporate structures in Jersey-based financial services, which has emanated from US alternative investment fund managers. The US already has a large hedge fund and private client community, as well as a number of key financial institutions that are also present in Jersey.

"As the uplift in business flow from the US is expected to increase in the future, Jersey is well-placed to play a vital role for US investors as a gateway to Europe - working with this market could bring clear benefits for all.”