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20 | International Investment
Leading lawyer:
these messages, and particularly the
Guernsey strikes a
services of the new Company Registry,
really seemed to strike a chord with local
chord in the Far East
lawyers, accountants and trust
professionals. The results seem very
Guernsey’s fiduciary offering has struck a positive for Guernsey both in terms of
chord with industry professionals in the Far winning business off the back of this
East, according to a leading international delegation and also for its long term
private client lawyer. success of securing flows from China.”
Nick Jacob, Partner, Tax and Private The delegation spent one week in Hong
Capital, Lawrence Graham LLP, chaired the Kong (5th-11th October) and the second
Guernsey fiduciary seminars during the week in Shanghai (12th-17th October). The
Island’s recent delegation to Hong Kong and team was showcasing Guernsey as lead
Shanghai. sponsor and exhibitor at the STEP
“Historically many practitioners in China Asia conference in Hong Kong, through a
have been familiar with trust and corporate series of meetings with key decision
structures from the BVI and Cayman but makers in the two centres and at specific
less aware of what other international trust and company seminars – chaired by
finance centres can offer. However, more Mr Jacob – in both locations.
recently this has begun to change with Peter Niven, Chief Executive of Guernsey
Guernsey in particular starting to get its Finance, added: “We have been very pleased
name known in the region,” said Mr Jacob. with the positive reaction that we have
“I believe that professionals in the Far received from the professionals in Hong
East should be made aware that their high Kong and Shanghai. The Guernsey industry
net worth clients – individuals and practitioners that came on the delegation
institutions – can benefit from using trust are reporting that they now have pieces of very experienced lawyer who was able to
and corporate services in Guernsey. The business in the pipeline as a direct result of speak with authority on using international
Island already has a great heritage of their participation. finance centres such as Guernsey for clients
excellence in providing fiduciary services “What I think has contributed to our in the region.”
internationally and its offering has been success is that we did not just have
enhanced this year through the introduction Guernsey industry Photo: Nick Jacob, Partner, Tax and Private
of a new Trust Law, a new Company Law practitioners singing our own praises but Capital, Lawrence Graham LLP, chairs the
and a new Company Registry. in Nick we also had third-party Guernsey trust and company seminar in
“What we saw at the seminars is that endorsement from a highly regarded and Shanghai.
Shanghai keen on the
The Chief Minister said: “It was good to The delegation was also able to see the
meet such a genuine group of people, led by Island from a different perspective by taking
Guernsey finance
the very senior and knowledgeable Vice- a guided coach trip around the coast. This
Mayor Tu. It was a pleasure to engage with was added to the schedule after an
model
him and his delegation and I am certain that invitation from the Commerce and
this is the latest stage of a long and fruitful Employment to set sail onboard the Sea
Tu Guangshao, the Vice-Mayor of Shanghai, relationship between us and Shanghai.” Fisheries vessel The Leopardess had to be
has spoken during a visit to Guernsey of how Peter Niven, Chief Executive of Guernsey declined due to the weather conditions.
his city would like to use the Island as a role Finance, said: “The Vice-Mayor was delighted Viewing the Island’s coastline was followed
model for the development of its own with the welcome he received in Guernsey by a tour of the States of Guernsey debating
financial services sector. and especially from the Chief Minister. He chamber and outline of the Island’s history
He said that financial services currently took a shine to the Island immediately and and constitution by Deputy Bailiff Richard
accounted for just 10% of Shanghai’s gross was particularly impressed with the Collas. The party was then received at
domestic product but it would be seeking to infrastructure and expertise of our finance Government House by the Lieutenant
expand this sector in the future. industry. Governor Sir Fabian Malbon and his wife
“We have much to learn from Guernsey… “Indeed his comments are a major Lady Malbon. The official engagements
….Guernsey will be a very good partner for endorsement of the Island as a leading were concluded with a chance for the
us,” said the Vice-Mayor, who added that international finance centre. All in all, the delegation to meet with the Chief Minister
there would be benefits for Guernsey as well. visit was a great opportunity to cement our and other senior politicians and officials;
“Guernsey would also like to find more strengthening relationships between Peter Neville, Director General of the
opportunities elsewhere in the world and in Guernsey and Shanghai – the major financial Guernsey Financial Services Commission
that sense Guernsey and Shanghai have a lot services centre in China.” (GFSC); and leading industry practitioners
of complementary areas.” The Vice-Mayor was joined by Zhang Yujun, such as Steve Le Page, Chairman of the
The Vice-Mayor was in Guernsey after President of the Shanghai Stock Exchange, Guernsey International Business
accepting an invitation from Chief Minister as well as local government officials. Their Association (GIBA). The Vice-Mayor has
Lyndon Trott to extend a planned trip to the itinerary began with a presentation about the already met with Guernsey representatives
UK by visiting the Island. Channel Islands Stock Exchange (CISX). three times during their visits to Shanghai.
April 2009 Investment International
www.investmentinternational.com
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