IIp8-9_Jersey.qxd 12/1/09 15:42 Page 2
8 | Jurisdiction
Jurisdiction
on Jersey
© Marcus Butel
Stability and security will be the watchwords in
offshore financial centres in the months ahead
by Geoff Cook,
Chief Executive, Jersey Finance Limited
O
ffshore banking has been and circulating amongst the onshore financial cen- Business School. One of its main conclusions
will remain at the cornerstone tres, particularly London. was that greater resources would need to be
of the offshore finance industry. As stability becomes an essential commodity devoted to the markets in China, India and
In the months ahead, the stabili- for international investors the Island’s long- Eastern Europe. These areas were identified as
ty provided by the leading juris- held reputation as a safe, secure location in markets where, alongside London, most new
dictions in the offshore which to shelter assets from global turmoil is business would be acquired in the future. The
environment will be the most important gaining special significance. events of the last few months have not affected
feature. Banks in Jersey are subsidiaries or branches those trends.
International investors share the same con- of world-wide financial institutions, but tend to Jersey professionals have been encouraged by
cerns as resident savers who have watched the be far more capitalised in Jersey than is the the increasing numbers of legal and finance
dramatic events that have hit the global bank- industry norm. This is because the Island is a professionals based in the emerging markets
ing community unfold across the world. centre for deposits, giving further comfort to turning to Jersey in support of their investment
Investors generally have had their confidence investors. planning and asset structuring. In China, for
deeply shaken by events in New York, London Alongside the need to demonstrate stability, example, there are many instances where insti-
and other leading markets and going forward offshore jurisdictions are also competing more tutional investors have been able to tap into the
there will no doubt be a demand from investors aggressively than ever for international invest- investment opportunities available in the
for greater economic stability and security. ment business. Many new opportunities are European markets through the formation of
An international financial centre such as arising from the emerging markets in the Far Jersey companies which are then listed on
Jersey provides a relative oasis of calm in these East, particularly in China and India. European exchanges. A delegation from Jersey
turbulent times. The Island has a huge pool of Finance has already made two successful visits
liquidity available from deposits placed locally. Financial future to China this year and further visits are
More than £200bn has been attracted to Jersey Jersey recently commissioned a long-term planned.
over the years. These funds do not lie idle in study into the future of financial services, Also it is clear from a recent visit to India by
the bank vaults of Island offices, but are undertaken for the Island by the London a delegation from Jersey that the Island is an
January 2009 Investment International www.investmentinternational.com
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