Finance industry to launch local charm offensive

Monday 30 January 2017

Jersey’s finance industry plans to do more this year to inform Islanders about the crucial contribution it plays in Island life.

Despite its annual tax contribution – which is enough to fund both Health and Education’s budgets; and half of all jobs in the Island being dependent on the finance industry – many who work in it don’t feel they’re getting the acknowledgement they should.

During a question and answer session at Jersey Finance’s Annual Review at the Hotel de France, one delegate asked the panel what they were going to do to improve  the industry’s image, or as the delegate put it "how do we get people to engage with the industry."

Whilst the panel agreed that you, “...can’t force people to like the industry” it was felt more should be done to explain to Islanders outside the industry how it works, and the ways in which it contributes to Island life.

John Harris, Director General of the Jersey Financial Services Commission, turned the tables on the audience and said he would like to see,  “...more captains of industry speaking up for the industry." In his opinion a more direct appeal – rather than a commission-led approach - is more likely to succeed. He urged those in the industry to tell Islanders how many people they employ and how the wealth they generate benefits everyone.

Geoff Cook, Jersey Finance’s CEO, also agreed more should be done to sell the industry locally, and spoke of a new "verbalisation" - an attempt later this year to explain in simple terms the value of the industry, not just in economic but social terms – what some might call a charm offensive – though quite what this involves and how it is going to happen wasn’t expanded on.