The States of Guernsey has confirmed the value delivered to the island by Guernsey Finance.
Committee for Economic Development President Deputy Neil Inder’s most recent update to the States confirmed that Guernsey Finance continues to represent excellent value for money in promoting and connecting Guernsey’s largest industry into its target markets.
Financial services in Guernsey is worth £1.3 billion to the local economy, which is more than the next 10 industries combined, representing 40% of GVA (gross value added).
In terms of successes, Guernsey Finance has helped facilitate the following major new business to the island:
- Trust Company Licence
- Money service business
- Two Investment Managers
- Custody Platform
- Two major fund structures
Guernsey Finance is also working on more than 40 significant pieces of new business for Guernsey including, notably, the establishment of four new life branches, a new fiduciary licence and two new banking licences.
With regard to outward recognition, Guernsey has won eight major international awards in financial services including having won Best International Finance Centre twice, Best Offshore Fund Domicile and European Captive Domicile of the Year twice.
Rupert Pleasant (pictured), Chief Executive of Guernsey Finance said: “We are very grateful to the Guernsey firms who have supported our Business Development teams to convert these new opportunities into business for the island.
“We look forward to sharing at Industry Update how this additional support from industry and government is translating into new business and opportunities for the island.
“Our team looks forward to continuing this work in 2025, with industry associations and the Guernsey International Business Association, to deliver growth for the island and sharing the ways in which Guernsey Finance provides value at our Industry Update.”
More information about the Guernsey Finance Industry Update can be found here.
