Jersey “Close” to Attracting Major Fund Manager

Contributing Editor

7 March 2005

Jersey’s attempt to attract specialist fund/wealth managers and family offices to be based in the Channel Island looks to be bearing fruit, according to the chairman of the Jersey Funds Association, Gary Clark. Mr Clark told WealthBriefing that a major UK-based fund management company was “very close” to relocating to Jersey. “It’s 95 per cent sure and an announcement is expected to happen shortly.” He was not able to reveal anything more about the fund manager. If Jersey manages to attract a major fund management firm to relocate it will be a major coup for the offshore jurisdiction. Together with the Isle of Man and Guernsey, the three offshore UK dependencies, are fighting hard to attract financial services firms to relocate some, if not all, of their business to the islands. “We feel we have a lot to offer such as an excellent lifestyle and access to top level staff and infrastructure,” said Mr Clark. “Our regulatory environment is also as good as anywhere in the world.” He added that Jersey is much more interested in attracting full-scale businesses: “very much more than just a brass plaque.” Mr Clark was not able to say if any family office structures had expressed an interest in relocating to Jersey. But he said many hedge funds and private equity specialists were seeking possible links with the island.