Jersey Finance look for more opportunities in Asian markets

Wednesday 30 January 2019

Exploring future opportunities and improving Jersey’s reputation in overseas markets are key priorities for Jersey Finance, as members of the organisation confirmed at the Annual Review.

CEO Geoff Cook, who will be leaving Jersey Finance next month, argued that a new office in New York, anticipated to open later this year, would position Jersey perfectly to capture a burgeoning US institutional investor market looking to access European opportunities.

During a panel session, Jersey Finance’s overseas business development team reported that there was already significant interest in Jersey’s recently launched International Savings Plan product from Asian markets. They expect the structure to significantly diversify Jersey’s proposition in Asia, particularly in the Gulf Region where Jersey is already considered the go-to international finance centre (IFC) for cross-border structuring.

Following the recent opening of Jersey Finance’s office in the Dubai IFC, the team said it would focus on working with a broader range of partners across Asia, including in Singapore and Malaysia.

This year, they will also continue to explore opportunities to expand Jersey’s support to investors in Africa from private wealth to inbound and outbound institutional investment.

Pictured: Departing Jersey Finance CEO, Geoff Cook, will be joining Mourant as a consultant in early 2019.

Geoff Cook commented: “The UK remains a key partner and Europe a vital market for Jersey, but the clear focus for Jersey is on expanding our global reach and diversifying our proposition in overseas markets. That is reflected in our activity this year. 

"It’s no accident that more than 50% of our business is done with markets beyond Europe now, and with our ramped up focus on Africa, a new proposition in the US and a clear commitment to innovation in Asia, we feel we are perfectly poised to capture the upside in our core markets and support the future demand for international capital flows.”