The island's regulator has given blessing to a Jersey-based office for the UK-headquartered investments firm.

Jersey’s financial regulator has given the green light to UK-based Seven Investment Management to set up a Jersey office, which opens next week. The office is in St Helier.

The office will be led by Grant Hamilton, who was previously a director of Rathbones in Jersey, 7IM said in a statement yesterday.

Regulatory clearance was given from the Jersey Financial Services Commission. 

“It [the office] provides a physical presence to help us offer discretionary management alongside our suite of services, including Dublin domiciled active and actively managed passive funds, and an open architecture platform with custody arrangements in Jersey,” Stewart Sanderson, head of private client, 7IM, said.

“We continue to see strong demand in Jersey for our discretionary investment services and platform. We feel Jersey is as an important international centre and a key part of our long term strategic development,” he added.

The Jersey team are Grant Hamilton; Dominic Pallot and Annie Newman. 

Pallot has more than 35 years’ experience in offshore financial services with trust company firms such as First Names and Walbrook Groups and banks such as Barclays Wealth and Abbey National. He also worked in investment, cash management, and foreign exchange services. He is a Chartered Wealth Manager and is a Chartered Fellow of the Chartered Institute for Securities and Investments.

Newman previously worked in portfolio management at Merrill Lynch for 12 years. Newman has been working in the offshore finance industry for more than 20 years.