The Jersey Funds Association (JFA) has elected Tim Morgan (pictured) to the role of Chair. He takes over from Mike Byrne, who has been at the helm of the JFA for the past three years.
Tim, a Partner at law firm Mourant, 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.
Before moving to Jersey, Tim trained with Taylor Wessing in London and Brussels, before going on to practise as a corporate lawyer at PwC Legal and then at Dresdner Kleinwort Wasserstein in London and New York.
Also new on the JFA committee are:
• Michael Johnson, Head of Fund Services, Intertrust – Vice Chair
• Niamh Lalor, Partner, Ogier – Chair of the legal and regulatory subcommittee
• Martin Paul, Partner, Head of Investment Funds and Structures, Bedell Cristin – Chair of education
• Steve Cartwright, consultant – Chair of the marketing subcommittee
Following his election, Tim said: “Jersey’s funds industry operates in an increasingly complex market, but it is an environment Jersey thrives in. With investors continuing to show an appetite to allocate to alternatives – Jersey’s sweet spot – and thanks to its ability to adapt, its deep pool of expertise and effective relationships between the regulator, government and industry, Jersey is in a strong position to continue to assert its strengths on the international stage.
“In recent years we have seen numerous challenges to our industry, but time and again we have responded adeptly, most recently through the implementation of economic substance legislation, underlining our commitment to governance and international standards.
"In recent months we have achieved record levels of fund servicing business, stellar growth in alternatives, big-ticket fund launches and rising numbers of managers choosing Jersey to bring their funds to market."
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.