Leading funds lawyer and Mourant partner, Tim Morgan, has been elected as the new Chair of the Jersey Funds Association (JFA).
The JFA represents Jersey’s funds industry. Tim takes on the role from former Chair Mike Byrne, who has been at the helm for the last three years.
Tim, who has practised in Jersey since 2003 advising promoters, investors, boards, regulators and service providers across asset classes including private equity, credit, real estate, hedge and liquid securities, will serve for a three year term leading the JFA Committee which is constituted with elected representatives from across the jurisdiction’s funds industry.
Also on the new-look JFA committee are Michael Johnson, who has been appointed Vice Chair and who heads one of the largest fund services businesses in the island, as well as a number of other appointments to ensure the committee reflects the different aspects of the developing funds industry.
Chris Marshall continues as Treasurer, Niamh Lalor as Chair of the legal and regulatory subcommittee, Martin Paul as the Chair of education and Steve Cartwright as the Chair of the marketing subcommittee. Caroline Harrington also remains as Secretary.
Tim said: “I’m very honoured to be taking up the mantle from Mike who has been a dynamic and significant leader in his term as Chair. I’m looking forward to working with the committee and stakeholders on and off-island as the JFA looks to support the ongoing success of our industry.
“Jersey’s funds industry operates in an increasingly complex market, but it is an environment that Jersey thrives in and as a firm we feel a significant responsibility in ensuring we play a role in continuing to keep momentum behind our growth and development as well as tackling challenges to our industry including our commitment to governance and international standards.”
Figures for Jersey’s funds industry show that, at the end of 2018, the net asset value of funds administered in Jersey rose to £320bn, the highest level ever recorded, with alternatives, including private equity, real estate, hedge, infrastructure and private debt funds, now representing 86% of that business.
An active trade association representing companies with Jersey offices operating in the funds sector, the JFA has over 100 members, including organisations spanning from niche independent Jersey-owned companies to global leaders.