PwC CI Appoint Senior Partner

PwC has entered a new era in its history in the Channel Islands with the appointment of Brendan McMahon (pictured) as Senior Partner, whilst at the same time underlining its commitment to the local marketplace with the official opening of a new purpose built office in Jersey.

Brendan takes on responsibility for all PwC's business areas across the Channel Islands from Steve Le Page, who has been Senior Partner for PwC Channel Islands since June 2008 and will be retiring from PwC this year, with John Roche then taking the lead on day-to-day matters within the local Guernsey office. In his new role, Brendan will draw on his years of experience in the Channel Islands and his role within the Global Asset Management Leadership Team in shaping responses to challenges faced by local and international clients.

Based in Jersey and working across both Channel Islands, Brendan McMahon has over 20 years' specialist experience in the financial services industry and has been part of PwC's Global Investment Management Leadership Team since 2008. His depth of expertise has helped position the Jersey office as the leading local provider of audit and advisory services to the alternative asset management community, whilst he also initiated PwC's and Jersey's response to the Alternative Investment Fund Managers Directive (AIFMD) and has played a significant role in raising the profile of the Channel Islands to private equity promoters globally.

Meanwhile, Steve Le Page, who was born and educated in Guernsey, retires from PwC with an accountancy career spanning 30 years. Having joined Coopers & Lybrand in 1980, he was appointed Partner in 1994 and was made Partner in Charge of the Guernsey practice of the then merged firm PwC in 1999, the subsequent growth of the Guernsey firm being largely attributed to his leadership. Throughout his career Steve has been involved in a number of innovative developments within Guernsey's finance industry, including bringing the first hedge funds to the island and helping develop the Protected Cell Company (PCC) structure, whilst he is also a former Chairman of the Guernsey International Business Association. Steve has been heavily involved in a number of the Guernsey office's environmental projects and helped found the Sports Academies in both Guernsey and Jersey.

In tandem with Brendan's appointment as Senior Partner, PwC's Jersey office has this month officially moved into brand new premises at 37 Esplanade. As well as signalling sustained confidence in the Channel Islands as leading financial services jurisdictions, the opening of the new office represents a significant investment in PwC's staff and the services they provide to clients, with cutting edge facilities and team-working focused specifications that reflect PwC's commitment to quality and doing the right thing for its people and the community. The new space, which will be decorated with works by a number of local artists, will see the Jersey office's 162 staff working on one floor, ensuring an efficient workplace.

The appointment of Brendan as Senior Partner and the opening of a brand new office is the culmination of a busy few years for PwC Channel Islands, following the launch of a new brand identity and the move to a new office in Guernsey in 2010.

Commenting on his new role and the significant investment PwC has recently made in the Channel Islands, Brendan McMahon said:

“PwC continues to have confidence in the future of the Channel Islands as major financial services centres and our focus remains on delivering valuable, expert insights to clients locally and around the world on matters most pertinent to them. Our people are unique in their ability to deliver consistently in this regard. Currently, for example, we're working on pivotal issues such as AIFMD, the impact of global shifts of economic power to the east, and ongoing governmental and media treatment of taxation, as well as supporting local economic diversification such as the e-commerce sector.

“With this in mind, investing in our people and our office environment is vital. As well as moving to brand new premises to enable staff to draw on the latest technology and best practice to support clients, we also continue to place a strong emphasis on professional development and building strategic international links through staff secondments around the world to offer new opportunities for clients and the Channel Islands.

“It is fitting that, as PwC enters a new era and moves into new premises in Jersey, we are able to recognise the significant work that Steve Le Page has undertaken in leading the firm over the past five years to its leading market position today. I am very much looking forward to maintaining this momentum and leading our highly qualified and skilled team of staff in both Guernsey and Jersey over the coming years as we develop further innovative services and continue to fly the local flag at an international level.”