The European IFC continues to raise its profile and expand business links in Asia.

Guernsey, which last week announced it is deepening its engagement with Asia with a new office in the region, has signed an agreement with the Shanghai Family Office Union to work on building business links.

Guernsey Finance, on behalf of Guernsey’s financial services sector, and the SFOU have signed a memorandum of understanding. The agreement was signed by Kate Clouston, director of international business development at Guernsey Finance, and Antoine Kuo, chairman of the SFOU, at a co-hosted wealth management event in Shanghai.
 
The MoU supports business development initiatives between Guernsey and the SFOU, provision of office and meeting room space in Shanghai, organisation of events, employee exchange programmes and registration services.

“Guernsey industry experts now have the opportunity to help Chinese firms understand international regulatory and compliance standards and procedures, and the Union will in turn act as a conduit to a vast and growing network in mainland China. The MoU also shows a broadening of the relationship between Guernsey and China which has continued to build since we first established our Shanghai office in 2007,” Clouston said.

The Channel Islands jurisdiction has been pushing its profile in the Asia-Pacific region. Guernsey Finance is opening a representative office in Hong Kong in the first quarter of next year, as reported by this publication last week. (See here.)