Jersey Finance draws up plans to open New York office

Jersey Finance is planning to set up an office in New York to meet a demand for a stable European base from American asset managers and private-equity firms.

The move is part of a global review of opportunities for the finance industry, and builds on a strategy put in place in 2013 following research from consultancy group McKinsey and Company.

McKinsey partner Philipp Härle told Jersey Finance’s annual conference last week that the initial strategy set in place in 2013 needed to be accelerated in the light of Brexit and the disruptive impact of digital technologies: “Jersey is an extraordinarily successful financial centre,” Härle said.

“But the number one priority is now to protect the business you’ve got and the most important aspect of that is the fight for digital talent. The key is to remove barriers for this talent.”

Jersey Finance chief executive Geoff Cook explained: “We can offer a stable route to invest money through Jersey into Europe, as well as raising money from European investors to invest internationally. We can be their bridgehead and help them operate safely.”

Christopher Copper-Ind
Christopher Copper-Ind is Editor of International Investment.

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