Guernsey Finance, the promotional arm of Guernsey’s financial services industry, has named Adrian Norman to represent the interests of its members in London, on a permanent basis.
Norman (pictured left), a Guernsey native, has some 25 years of financial services industry experience, more than 20 of which he spent on the Channel Island, Guernsey Finance said in a statement announcing his appointment.
There, the statement adds, he worked “across funds, private wealth and banking at [such companies] as Credit Suisse, Northern Trust, Carey Group, Ogier and Odey Wealth”.
His role with Odey Wealth took him to London in 2014, where he served as head of operations for a time with Odey Asset Management.
Guernsey Finance is headed up by Dominic Wheatley, its chief executive, who noted that Norman’s “passion for his home island will make him a great addition to our team”, while his “broad experience means he will be an important link for us across several sectors”.
Norman’s position is a new one. However, Guernsey Finance currently has a China representative, Wendy Weng, based in Shanghai; an Asia Pacific representative, Dorothy Kwok, in Hong Kong; and a Middle East representative, Zoë Cousens, based in Dubai.
Recruitment announced in January
In January, Guernsey Finance announced that it was looking to appoint a permanent, London-based representative for the first time, in an effort to build its ties with the City of London’s financial services industry ahead of Brexit.
It said that its plan to establish a full-time London rep for the industry was a formal acknowledgement of “the crucial two-way business relationship between the island and the [UK’s] capital, and especially, its likely importance following Britain’s withdrawal from the European Union in 2019″.
Last week, TheCityUK, a pro-UK financial services organisation of which Guernsey Finance is a member, issued a report which found that more than a third of the funds under management in the UK’s fund industry are managed on behalf of overseas clients, “making the UK the leading global centre on this measure”.
According to the findings of the report, UK Fund Management, a record £2.6trn was held on behalf of overseas clients in 2016, representing 37% of funds under management in the UK. The data showed the UK to be the third largest international fund management centre, behind only the US and Japan.
To read and download the 28-page report, click here.