Business News Archive

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June  2020  (60)

  • Orchard reports on Guernsey social media use

    Orchard Insights jun20PR company Orchard has released the results of a survey it has conducted to find out how Guernsey is using social media.  The highlights from the Orchard Insights Social Media survey are as follows: • 95% of respondents use YouTube – this is the most used platform in Guernsey &bull...     [read more]

    By Orchard PR on  30 June 2020 
  • 2020 Top 35 Under 35 list revealed

    Top35u35 2020eprivateclient has published its 2020 Channel Islands Top 35 Under 35 listing. This marks the third edition of the annual eprivateclient Channel Islands Top 35 under 35 list, which aims to recognise local talent across the private wealth sector.  Factors considered during the judging process ...     [read more]

    By BL Global on  30 June 2020 
  • Comment: cyber defences

    BL68_C5_StaffordSlaterCyber crime has been on the increase during the pandemic. Staford Slater, Head of Network and Security at C5 Alliance, shows how to stay one step ahead Cyber criminals have been exploiting the coronavirus pandemic by attacking people working from home.  According to Action Fraud, more than &p...     [read more]

    By C5 Alliance on  30 June 2020 
  • Baccata Group adds to board

    Darren English_Baccata_jun20Jersey-based trust and corporates services provider Baccata Group has appointed Darren English to its board as a Director.   Darren will lead the development of client services in East Africa as Baccata expands into new markets. He has also become a member of the Business Development Committee...     [read more]

    By Intro on  30 June 2020 
  • Jersey Finance forms sustainability pact

    Andrew Mitchell_jun20 (cMatt_Porteous)Jersey Finance has teamed up with Andrew Mitchell (pictured), founder of consultancy Equilibrium Futures, to support the jurisdiction’s drive to position itself as a centre of excellence for sustainable finance. Andrew and his team will work with the sector for the rest of this year to provid...     [read more]

    By Crystal PR on  29 June 2020 
  • Ravenscroft makes Isle of Man acquisition

    Ravenscroft thumbnailInvestment services company Ravenscroft is to acquire WHIreland (IOM), the Isle of Man subsidiary of UK financial services business WHIreland, subject to approval from the Isle of Man Financial Services Authority. Ravenscroft Group Managing Director Mark Bousfield (pictured) said: "Ravenscroft...     [read more]

    By Ravenscroft on  29 June 2020 
  • Investec appoints Chief Operating Officer

    Nick Leale_Investec_jun20Investec Bank (Channel Islands) has appointed Nick Leale as Chief Operating Officer.  Nick joined Investec 20 years ago and has undertaken a number of senior roles within the bank, most recently as Head of its trust and corporate proposition across the Channel Islands, Isle of Man and Switzerl...     [read more]

    By ORCHID on  29 June 2020 
  • C5 Alliance makes two appointments

    Cindy Jacobs_C5_jun20C5 Alliance has appointed Andrew Jarrett as Head of Business Development and Cindy Jacobs as Client Director within its client and business development team in Jersey.   Over a 34-year career, Andrew has worked as Chief Operating Officer at Foreshore, a Director at Digital Jersey, Chief Operati...     [read more]

    By Orchard PR on  29 June 2020 
  • CIMG acquires TPA Guernsey

    GuernseyPress logoChannel Islands Media Group (CIMG), which last year purchased the Guernsey Press, is to acquire creative digital agency TPA Guernsey, subject to regulatory approvals. CIMG, a joint venture between Bailiwick Investments and MXC Guernsey, was formed to create a one-stop shop for the marketing, conten...     [read more]

    By Katrina Bray on  26 June 2020 
  • Ogier advises on warehouse portfolio acquisition

    Ogier logo_official_jul19Ogier has acted for property investment company Urban Logistics REIT on the acquisition of seven distribution properties for a total of £47.2m from Legal & General Investment Management. The transaction, effected through the acquisition of a Jersey property unit trust, involved a number o...     [read more]

    By Crystal PR on  26 June 2020 
  • Jersey Finance launches family office podcasts

    JerseyHeard logo jun20Jersey Finance is launching a family office podcast series on Jersey Heard next week. Hosted by UK Director Robert Moore, the series will offer opinions and insights into how the coronavirus pandemic is affecting the family office community globally. The first episode features Gibson Strategy CEO ...     [read more]

    By Jersey Finance on  26 June 2020 
  • JFSC publishes financial crime feedback

    JFSC logo The Jersey Financial Services Commission has published the key findings from the first series of industry examinations with financial services businesses across several sectors – deposit-taking business, investment business, fund services business and trust company business. Established in 20...     [read more]

    By Jersey Financial Services Commission on  26 June 2020 
  • Guernsey insurers adopt global sustainable framework

    We Are Guernsey logoThe Guernsey International Insurance Association (GIIA) has signed up to a United Nations green programme as part of its commitment to the development of green and sustainable finance. GIIA is now a supporting institution of the United Nations’ Principles for Sustainable Insurance (PSI) Initi...     [read more]

    By We Are Guernsey on  25 June 2020 
  • JT acquires technology automation company

    JT_Logo_jul19JT has expanded its intelligent engineering and home automation service offering by acquiring Jersey-based company Zero1.   Founded in 2010, Zero1 designs and supplies environment and entertainment automation systems for homes and businesses in the Channel Islands.    As more homes h...     [read more]

    By Direct Input on  25 June 2020 
  • Regulation watch: competition law

    BL68_MichaelByrne_GCRAMichael Byrne, CEO of the Guernsey Competition & Regulatory Authority (GCRA), looks at the need for flexibility during the pandemic, even as the islands’ regulatory authorities prepare to demerge We are all aware of the challenges that are being faced globally as a result of the coro...     [read more]

    By Guernsey Competition & Regulatory Authority on  25 June 2020 
  • Ogier appoints BVI Partner

    david-welford_Ogier_jun20Ogier has appointed British Virgin Islands dispute resolution specialist David Welford as a Partner. David joins Ogier's BVI law team in Europe, which works alongside the firm's BVI-based team to provide BVI dispute resolution support across the European and Caribbean timezones. A barriste...     [read more]

    By Crystal PR on  24 June 2020 
  • JCRA proposes fine for JT licence breach

    The Jersey Competition Regulatory Authority (JCRA) has found that JT engaged in a margin squeeze, to the detriment of its competitors and consumers, during a 13-month period ending in February 2020.  Throughout that period, JT priced its wholesale services to other telecoms providers at such a...     [read more]

    By ORCHID on  24 June 2020 
  • Brooks Macdonald acquires Lloyds Bank CI business

    Brooks Macdonald logoBrooks Macdonald International (International), the wholly owned Channel Islands-based subsidiary of the Brooks Macdonald Group, is to acquire the Channel Islands wealth management and funds business of Lloyds Bank International, subject to regulatory approval. Expected to complete later this year,...     [read more]

    By Crystal PR on  24 June 2020 
  • TrustQuay signs technology deal with LGL Group

    TrustQuay logo jun20TrustQuay – the corporate services, trust and fund administration provider formed from the recent merger of Microgen Financial Systems and Touchstone Wealth Management – has signed an agreement with LGL Group to migrate its business onto the TrustQuay NavOne system.  LGL Group, whi...     [read more]

    By Narrative UK on  23 June 2020 
  • Aztec to oversee Ardian fund

    AztecGroup logo 2018The Aztec Group has been selected by Ardian to administer its eighth-generation secondaries platform, ASF VIII. The platform will be administered from the Group’s Jersey office. Headquartered in Paris, Ardian is a global private investment firm with $96bn in AUM. The firm’s fund of fund...     [read more]

    By Aztec Group on  23 June 2020 
  • Digital asset custody firm launches in Jersey

    Komainu logo jun20Digital asset custody business Komainu – a joint venture between Japanese investment bank Nomura and crypto specialists Ledger and CoinShares – has been launched in Jersey.  Komainu, which is regulated by the Jersey Financial Services Commission, acts as a custodian and provides re...     [read more]

    By BL Global on  23 June 2020 
  • TMF provides services to CVC fund

    TMF GroupBusiness administration services provider TMF Group has been selected by CVC Capital Partners to provide administration and depositary services to CVC Capital Partners Asia V, a $4.5bn Jersey-domiciled and regulated fund. CVC’s Asia Pacific strategy is focused on control and partnership inves...     [read more]

    By TMF Group on  23 June 2020 
  • GFSC issues revised handbook on financial crime

    GFSC HandbookThe Guernsey Financial Services Commission has issued a final version of the revised Handbook on Countering Financial Crime and Terrorist Financing. Amendments have been made to the handbook to take into account the Bailiwick of Guernsey’s National Risk Assessment on money laundering and the ...     [read more]

    By Guernsey Financial Services Commission on  22 June 2020 
  • JFSC publishes 2019 annual report

    JFSC logo The Jersey Financial Services Commission (JFSC) has published its annual report and financial statements for 2019. The report documents the Commission's performance during the year and includes a review of activities. Among its accomplishments for 2019, the JFSC cites working with the Governme...     [read more]

    By Jersey Financial Services Commission on  19 June 2020 
  • Grant Thornton adds to senior team

    Wynand Pretorius_GrantThornton_jun20Grant Thornton Channel Islands has expanded its senior management team with the appointment of Wynand Pretorius as Audit Director in Guernsey.   Since moving to Guernsey in 2014, Wynand has focused on working with large listed companies in the wealth and asset management sector. ...     [read more]

    By Orchard PR on  19 June 2020 
  • Ogier lawyer joins Insolvency Rules Committee

    alex-horsbrughporterAlex Horsbrugh-Porter, Counsel in Ogier's Dispute Resolution team in Guernsey, is the latest appointment to the Insolvency Rules Committee in Guernsey.  Alex has been with Ogier for the past three and a half years. He specialises in formal insolvency procedures, negligence and breach of du...     [read more]

    By Crystal PR on  19 June 2020 
  • Issue 68 of Businesslife now available online!

    BL68_Book_COVER Issue 68 of Businesslife is now available online. As restrictions resulting from the coronavirus pandemic begin to ease around the world, business leaders are turning their attentions away from the impact of Covid-19 on short-term issues such as daily working patterns to more strategic analysis of ...     [read more]

    By BL Global on  17 June 2020 
  • Guernsey simplifies MGA application process

    We Are Guernsey logoGuernsey’s insurance industry has been working with the Guernsey Financial Services Commission (GFSC) to make the island an attractive location for Managing General Agents (MGAs).   Guernsey Finance, together with industry group the Guernsey International Insurance Association (GIIA), has...     [read more]

    By We Are Guernsey on  17 June 2020 
  • Chambre des Ecrivains votes in new President

    Tony Del Amo_jun20Tony Del Amo, Senior Partner at law firm Le Gallais & Luce, has been voted in as the new President of the Chambre des Ecrivains (Jersey Solicitors), making him the third person in recent years from Le Gallais & Luce to hold the position. As President, Tony is entitled to take part in the di...     [read more]

    By Freedom Media on  17 June 2020 
  • Voisin Law advises on Jersey Bowl deal

    Voisin logo 2017Voisin Law’s commercial property team has advised JB Real Estate (Jersey) on the acquisition of the premises at Jersey Bowl.  The premises have subsequently been leased to Jersey Bowl (64). Jersey Bowl, the island's only indoor tenpin bowling centre, includes 18 bowling lanes, an ar...     [read more]

    By Suzanne le Lay on  17 June 2020 
  • Calligo acquires again in Ireland

    calligo-logo 2018Managed data services provider Calligo has acquired Itomic Voice & Data, an IT managed services provider based in Cork and Dublin, which specialises in delivering IT solutions and maintenance and managed Microsoft 365 and Azure services nationwide.    This is Calligo’s seven...     [read more]

    By Calligo on  16 June 2020 
  • Astaara secures significant investment

    Astaara logo jun20Recently launched Guernsey-based insurance services and risk management advisory business Astaara has secured a significant investment from maritime insurance provider the West of England Protection and Indemnity Club. Astaara CEO Robert Dorey (pictured) commented: "This investment recogn...     [read more]

    By Clicksmith on  16 June 2020 
  • Guernsey adds to Insolvency Rules Committee

    Andrea Harris_Krys_jun20Andrea Harris, Director of asset recovery specialist KRyS Global Guernsey, has been appointed as a member of Guernsey's Insolvency Rules Committee.  Andrea has broad-ranging experience in the Guernsey insolvency and restructuring market, including administration, liquidation, regulatory an...     [read more]

    By Krys Global on  16 June 2020 
  • Walkers advises on Kenya energy scheme

    Walkers Logo 2018Walkers (Jersey) has advised African Frontier Capital, Mauritius (AFC) on the Jersey law aspects of a $65m receivables financing transaction that will enable people living off-grid in Kenya to buy d.light solar home systems and related solar products.  Walkers delivered a significant proportio...     [read more]

    By Walkers on  16 June 2020 
  • IoD announces webinar details

    IoD LogoThe next IoD Wednesday Webinar, on 17 June, will examine how Guernsey can capitalise on the digital progress made during the Covid-19 pandemic and what is needed to enable this to continue. The webinar will look at how businesses and governments have responded to Covid-19, and analyse what has...     [read more]

    By Black Vanilla on  16 June 2020 
  • JFSC announces enforcement move

    Kerry Petulla_JFSC_jun20The Jersey Financial Services Commission's Head of Enforcement, Kerry Petulla, is to take on the role of Acting Director of Enforcement following the retirement of Barry Faudemer. Barry is retiring after 13 years as the Commission's Director of Enforcement and 41 years in the field of enfor...     [read more]

    By Jersey Financial Services Commission on  15 June 2020 
  • Ogier and Clifford Chance advise on credit facility

    Ogier logo_official_jul19Ogier's banking and finance team, and onshore counsel Clifford Chance, have advised HSBC as the lead agent for the syndicate of banks that is making an unsecured £500m Revolving Credit Facility (RCF) available to the States of Jersey to support islanders and the Jersey economy through the ...     [read more]

    By Crystal PR on  15 June 2020 
  • IQ-EQ completes Blue River Partners acquisition

    IQ-EQ logo_2019IQ-EQ has completed its acquisition of Blue River Partners, the US-based provider of outsourced solutions to alternative asset managers.  The acquisition, announced in February, is the group’s first in the US funds private equity and hedge fund services sector.   The newly comb...     [read more]

    By Aspectus Group on  12 June 2020 
  • Guernsey launches fast-track application regime

    EmmaBailey_GFSC 2018The Guernsey Financial Services Commission has launched a fast-track application regime for managers of overseas collective investment schemes, to make it simpler for them to apply for a Guernsey licence.   The intention of the regime is to combine, where appropriate, the consent to migrate th...     [read more]

    By Guernsey Financial Services Commission on  12 June 2020 
  • Pinel Advocates appoints Senior Consultant

    Michael Speranza_pinel_jun20Pinel Advocates has appointed senior real estate finance lawyer Michael Speranza as a Consultant.   Michael brings to the Jersey firm more than 20 years’ experience in real estate finance and corporate legal work.  He previously served as Counsel with major international law firms ...     [read more]

    By Pinel Advocates on  12 June 2020 
  • Guernsey appoints to Insolvency Rules Committee

    David_Jones_CareyOlsenCarey Olsen Partner David Jones (pictured), who specialises in restructuring and insolvency, has been appointed as a member of Guernsey's first Insolvency Rules Committee (IRC).   David's appointment is at the invitation of the Committee for Economic Development in anticipation of the C...     [read more]

    By Carey Olsen on  12 June 2020 
  • Standard Bank names Head of Risk

    Andrea John_Standard Bank_jun20Andrea John has joined Standard Bank Offshore Group as Head of Risk, where she will be responsible for driving forward the bank’s overall risk management vision, strategy and policy.   As part of the Jersey-based team, Andrea will oversee the management of credit and operational risk. Sh...     [read more]

    By Isle of Man Advertising & PR on  11 June 2020 
  • RBS International makes Luxembourg hire

    Spencer Carne_RBSI_jun20RBS International has announced that Spencer Carne will lead the RBS International Depositary Services business in Luxembourg, which together with NatWest Trustee and Depositary Services forms the overall trustee and depositary proposition for the business. A longstanding employee of RBS Internatio...     [read more]

    By Crystal PR on  11 June 2020 
  • Aztec Group appoints Non-Executive Director

    Kathryn Purves_Aztec NEDFund and corporate services provider the Aztec Group has appointed Kathryn Purves to its board as a Non-Executive Director. With a career spanning banking, private equity, life insurance and wealth management, Kathryn’s experience includes investment, legal, operations, commercial and risk ma...     [read more]

    By Aztec Group on  11 June 2020 
  • Appleby acts in acquisition

    ApplebyGlobalServices_logo_feb20Appleby Global Services (AGS) has worked with 1923 Investments, a subsidiary of Hili Ventures, to support it in the acquisition of a portion of Bermuda transportation specialist Teekay Tankers' oil and gas ship-to-ship transfer support services business. The acquisition completed in the second ...     [read more]

    By Appleby on  11 June 2020 
  • Intertrust reports on PE activity

    Intertrust logoThe private equity landscape is likely to change in the post-Covid world, with the greatest rise in transactions in distressed strategies, according to Intertrust's Global Private Equity Outlook 2020 report.     Intertrust interviewed 143 private equity professionals across Europe...     [read more]

    By Orchard PR on  9 June 2020 
  • VG launches Cash Box solution

    VG logoJersey fiduciary and administration solutions provider VG has launched its Jersey Cash Box structuring solution in response to recent market conditions. VG Manager Ross Crick commented: “A Jersey Cash Box offers PLCs listed on the Main Market of London Stock Exchange or Alternative Inves...     [read more]

    By VG on  9 June 2020 
  • GFSC resumes onsite financial crime inspections

    GFSC logoThe Guernsey Financial Services Commission has announced that its Financial Crime Division is recommencing its routine financial crime inspections to firms with immediate effect.   Routine inspections were suspended on 19 March to enable firms to deal with the immediate operational impact of t...     [read more]

    By Guernsey Financial Services Commission on  8 June 2020 
  • Carey Olsen advises Guernsey on Covid financing

    Andrew_Boyce_CO_jun20Lawyers from Carey Olsen's corporate team in Guernsey have advised the States of Guernsey on its debut unsecured £225m Revolving Credit Facility (RCF).   The primary purpose of the RCF is to finance initiatives intended to address the impact of the coronavirus pandemic and to support ...     [read more]

    5 June 2020 
  • Guernsey insurance company launches

    Astaara logo jun20Guernsey-based insurance services business Astaara Company Limited (ACL) has been launched, with the aim of better protecting maritime companies from cyber threats. ACL is made up of three elements – Astaara Risk Management, Astaara Underwriting and Astaara Analytics. The latter will support ...     [read more]

    By Clicksmith on  4 June 2020 
  • ESI Monitor makes four appointments

    HilaryJeune_ESI_jun20Guernsey environmental and social impact consultancy ESI Monitor has appointed four specialists to its team.   Joining as Senior Consultant, Hilary Jeune has more than 17 years’ experience working as a campaigner, policy adviser, manager and consultant for international organisations, Uni...     [read more]

    By Orchard PR on  4 June 2020 
  • Aztec and Ferbrache support fund closings

    AztecGroup logo 2018Fund and corporate services provider Aztec Group and Guernsey-based law firm Ferbrache & Farrell have supported European venture capital specialist Lakestar with the side-by-side closing of its third-generation fund Lakestar III and Lakestar Growth I.    With a focus on early and ...     [read more]

    By Aztec Group on  4 June 2020 
  • Jersey named Best IFC at WealthbriefingAsia Awards

    JerseyFinance logo_jul2019Jersey has been named Best International Finance Centre for this year's WealthBriefingAsia Awards, which are scheduled to be presented at an event in Singapore in November.  Showcasing ‘best of breed’ providers in the global private banking, wealth management and trusted advise...     [read more]

    By Jersey Finance on  3 June 2020 
  • PraxisIFM supports launch of fund IPO on LSE

    PraxisIFM_Logo2018PraxisIFM Group has provided services to the Nippon Active Value Fund (NAVF) in its listing on London Stock Exchange in February.    PraxisIFM Fund Services (UK) is providing administration and corporate secretarial services. In addition, the group’s Guernsey-based alternative i...     [read more]

    By Orchard PR on  3 June 2020 
  • Switch Digital recruits consultant

    Leo Harrison_SwitchDigital_jun20Channel Islands digital agency Switch Digital has appointed Leo Harrison, former Chief Operating Officer of global agency OLIVER, as a Strategy Consultant. Leo moved to Jersey in 2017, having spent 15 years at OLIVER, which runs in-house agencies for global brands such as Adidas, Google, Unilever a...     [read more]

    By Switch Digital on  3 June 2020 
  • JFSC to hold webinar on virtual examinations

    JFSC webinar jun20Given the current restrictions due to Covid-19, the Jersey Financial Services Commission is unable to visit businesses, so is conducting all aspects of its examinations programme remotely. On Wednesday 17 June at 2pm, JFSC Director of Supervision Jill Britton and Head of Examination Units Amanda Re...     [read more]

    By Jersey Financial Services Commission on  3 June 2020 
  • Sure begins £3m network upgrade

    Sure logo jun20Sure has begun work on a project to futureproof the Channel Islands’ telecoms networks. The project, an investment of more than £3m, will upgrade the infrastructure that connects the Channel Islands to the global internet. It forms part of the local telecoms provider’s five-year i...     [read more]

    By Orchard PR on  2 June 2020 
  • Carey Olsen advises Hiscox on LSE capital raising

    CareyOlsen logo_jul19Lawyers from Carey Olsen's corporate team have advised international specialist insurer Hiscox on its non-pre-emptive placing of new ordinary shares on London Stock Exchange (LSE).  In conjunction with the placing, certain directors and senior management subscribed for new ordinary shares ...     [read more]

    By Carey Olsen on  2 June 2020 
  • Microgen and Touchstone become TrustQuay

    TrustQuay logo jun20Following the recent merger of Microgen Financial Systems and Touchstone Wealth Management, the company has announced its new name and brand for the combined business – TrustQuay.     Providing technology to the trust and corporate services market, the merged business now serves som...     [read more]

    By Narrative UK on  1 June 2020 
  • Guernsey launches green private equity principles

    Guernsey Green Principles_jun20Guernsey has launched its first voluntary green private equity principles, to bring climate risks and resilience into the heart of private equity decision-making based on better climate disclosure and risk management.  Among the highlights of the principles and practice, developed by Guernsey ...     [read more]

    By We Are Guernsey on  1 June 2020 

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