The Bank Aston Group, owners of Bank Aston, Britain’s newest bank, have announced plans to expand into Jersey.
Aston Currency Management (Aston CM), the group’s payment, foreign exchange and virtual accounts business, will lead the charge with a view to establish presence in the market prior to considering opening a Bank Aston locally. Offices and key hires have already been identified, and the expectation is that the fx business will launch in Jesey before year-end.
Aston CM was set up in Guernsey in September 2023 and moved into profitability within three months of being formed.
According to James Bennett (pictured), Aston Currency Management CEO: “Aston CM is very different from most currency management providers. We are fast moving, customer focused and independent. This means we can deliver what our clients want at speed and at scale without the restrictions of slow-moving legacy businesses.”
Bank Aston, the group’s flagship, is due to launch in July 2026 in Guernsey. The Bank will be looking to other well-regulated jurisdictions as part of its expansion once it has completed its latest financing round.
James Bennett, one of the founders of the Bank Aston Group added: “Bank Aston and the Aston Group want to be an offshore banking leader. Our move to Jersey is part of a wider plan to deliver on this vision. We know that many of the legacy banking players are looking to leave the Channel Islands and that the family offices, trusts and fiduciaries left behind really value the flexibility, services and speed we can offer.”
