Business News Archive

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February  2021  (65)

  • Skipton International reports pre-tax profit of £19.9m

    SkiptonInternational _logo_aug19 thSkipton International has reported profit before tax of £19.9m and deposit growth of £293m as part of its full-year results for 2020. According to Skipton, its mortgage team has helped 870 new mortgage customers during 2020, with mortgage balances increasing by £161m across Guerns...     [read more]

    By Skipton International on  26 February 2021 
  • Rossborough promotes Natasha Lucock to Head of Commercial Markets

    Natasha Lucock_Rossborough_feb21Local insurance broker Rossborough has promoted Natasha Lucock to the role of Head of Commercial Markets.   Natasha will focus on business development for Rossborough Private Office and Professional Risks across the Channel Islands and Isle of Man, with responsibility for looking after corpora...     [read more]

    25 February 2021 
  • Fund administrator launches in Jersey

    Oakbridge Funds Logo feb21Oakbridge Fund Services (Jersey), a specialist independent fund administrator based in Jersey, has been launched to service the alternative funds sector. Specialising in the main alternative asset classes, with a focus on private equity and venture capital, Oakbridge Funds will provide administrati...     [read more]

    By Oakbridge Funds on  24 February 2021 
  • Grant Thornton appoints Andrea Harris as Director

    Andrea Harris_GT_feb21Grant Thornton Channel Islands has appointed Andrea Harris as a Director in the Recovery and Reorganisation team in Guernsey.  A Fellow of INSOL International and a Certified Fraud Examiner, Andrea joins Grant Thornton with international insolvency and forensic investigation experience across ...     [read more]

    By Orchard PR on  23 February 2021 
  • JTC promotes Paul Weir to Jersey MD

    Paul Weir_JTC_feb21As part of a global promotions round, JTC has appointed Paul Weir as Managing Director of its Jersey office. Paul has been with JTC since 2013, when he joined as Director, Private Clients, but he has worked in the trust and fiduciary services sector since 1994. After starting his career with NatWe...     [read more]

    By Crystal PR on  23 February 2021 
  • Bedell Cristin advises on solar energy project

    BedellCristin logo 2019Bedell Cristin Jersey Partnership, working with the New York and London offices of Hogan Lovells, has advised the Norwegian Investment Fund for Developing Countries (Norfund) in expanding the receivable financing facility of Brighter Life Kenya 1 (BLK1). BLK1 is an off-balance sheet financing vehic...     [read more]

    By Crystal PR on  23 February 2021 
  • Carey Olsen supports Guernsey Green Fund designation

    CareyOlsen logo_jul19Carey Olsen's corporate team has advised private equity investment group Earth Capital on the designation of its Nobel Sustainability Fund as a Guernsey Green Fund.   Designation as a Guernsey Green Fund is gained through compliance with Guernsey Financial Services Commission rules to assur...     [read more]

    By Carey Olsen on  23 February 2021 
  • RBS International Luxembourg supports NREP

    RBSI logoRBS International Luxembourg has signed a subscription line with a maximum facility size of €300m with NREP Income+ Fund.  NREP is one of the largest real estate investment managers in the Nordics. Its NREP Income+ Fund is an evergreen fund, launched in September 2020, that is expected to...     [read more]

    By Liquid on  23 February 2021 
  • TEAM to list on London Stock Exchange

    TEAM logo feb21TEAM, the parent company of Jersey-based investment management business TEAM Asset Management, has announced its intention to proceed with an initial public offering and to seek admission of its shares to trading on the UK’s Alternative Investment Market.  The company expects the admissi...     [read more]

    By TEAM Asset Management on  22 February 2021 
  • Jersey fines LGL £550,000 for breaches of Money Laundering Order

    Government of Jersey logo 2019The Royal Court imposed a fine of £550,000 on LGL Trustees Limited (LGL) on Friday, and awarded costs of £50,000, for failing to comply with the requirements of the Money Laundering (Jersey) Order 2008.   LGL had pleaded guilty on 4 December 2020 to two related offences under Artic...     [read more]

    By Government of Jersey on  22 February 2021 
  • JFSC to hold Brexit legislative changes webinar

    JFSC Brexit webinar mar21The Jersey Financial Services Commission has announced that it will be holding a webinar on the recent legislative changes following Brexit. The event, Sanctions – recent legislative changes, will be held on Wednesday 3 March from 2pm to 3pm.  Participants will hear from JFSC Internatio...     [read more]

    By Jersey Financial Services Commission on  22 February 2021 
  • RBS International announces 2020 annual results

    RBSI logoRBS International has published its annual results for 2020, which show that total income fell from £563m in 2019 to £461m, while pre-tax operating profit dropped from £335m to £82m. The bank reported that sustained profitability had strengthened its capital reserves –...     [read more]

    By RBS International on  19 February 2021 
  • FCA approaches JFSC over new Woodford business

    JFSC logo UK watchdog the Financial Conduct Authority (FCA) has been in touch with the Jersey Financial Services Commission following reports that investor Neil Woodford’s new business will operate out of Jersey and Buckinghamshire. The FCA is still investigating the collapse of the LF Woodford Equity ...     [read more]

    By BL Global on  19 February 2021 
  • Aztec/Carey Olsen support Basalt infrastructure fund

    AztecGroup logo 2018Fund and corporate services provider the Aztec Group has supported the closing of Basalt Infrastructure Partners' third fund, Basalt III, which raised $2.75bn to invest in infrastructure equity opportunities. The London and New York-based infrastructure investment firm said the fund, which rece...     [read more]

    By Aztec Group on  19 February 2021 
  • Calligo acquires US firm Decisive Data

    calligo-logo 2018End-to-end managed data services provider Calligo has acquired US-based Decisive Data, a specialist in data analytics, data science and visualization.    Decisive Data was established in 2008 in Redmond, Washington, and helps global brands in technology, retail, telecoms, healthcare a...     [read more]

    By Calligo on  18 February 2021 
  • ID Register and Sionic announce partnership

    Sionic logoGlobal consulting firm Sionic and investor onboarding hub The ID Register have announced a formal Alliance Partnership.  The partnership offers a trusted one-and-done KYC approval process through The ID Register’s global hub, which is now backed by Sionic. Sionic has over 25 years&rsquo...     [read more]

    By Sionic on  18 February 2021 
  • Equiom appoints Melanie Griffiths as private wealth leader

    MelanieGriffiths_Equiom_feb21Trust and fiduciary services provider Equiom has appointed Melanie Griffiths to the role of Head of Client Solutions, Private Wealth. Based in London, Melanie will work with the professional adviser community to deliver and expand Equiom's private wealth proposition. Melanie started her career...     [read more]

    By Equiom on  18 February 2021 
  • Ogier acts in £75m fundraise for Hipgnosis

    Ogier logo_official_jul19Ogier funds advisers in Guernsey have assisted music fund Hipgnosis Songs Fund with its latest £75m fundraising. The funds team provided Guernsey law advice on the issue of new shares in Hipgnosis in the latest round of fundraising.  The shares in Hipgnosis, which owns music from artist...     [read more]

    By Ogier on  17 February 2021 
  • GFSC updates cyber security and CFT guidance

    GFSC logoThe Guernsey Financial Services Commission has this week published an updated version of its cyber security rules and guidance, to ensure the bailiwick’s regulatory regime continues to comply with international standards. The new rules and guidance, created following extensive engagement with...     [read more]

    By Guernsey Financial Services Commission on  17 February 2021 
  • ESI Monitor signs True Limited as Jersey partner

    TrueLimited logo feb21Environmental and Social Impact Monitor (ESI Monitor) has appointed Jersey-based sustainability consultancy True Limited as its partner on the island. ESI Monitor, established in Guernsey in 2019, facilitates environmental sustainability in businesses across multiple countries and jurisdictions.&nb...     [read more]

    By Ozouf on  16 February 2021 
  • Astaara recruits three senior staff

    NickParkes_Astaara_feb21Guernsey-based marine risk management and insurance company Astaara has made three senior appointments. Nick Parkes (pictured) joins as a Marine Cyber Analyst, having previously worked in engineering roles for Condor Ferries and C8 Mechanical & Electrical.  Former naval captain Philip Pon...     [read more]

    By Clicksmith on  16 February 2021 
  • JFSC fines SG Kleinwort Hambros firms

    The Jersey Financial Services Commission has issued civil financial penalties totalling more than £719,000 against three SG Kleinwort Hambros (SGKH) firms. As a result of a lack of documented detail of board discussions, the boards of the SGKH entities were unable to demonstrate they adequate...     [read more]

    By Jersey Financial Services Commission on  16 February 2021 
  • Zedra acquires UK pensions business

    Zedra logoZedra has acquired Inside Pensions, a UK-based provider of occupational pension scheme governance support.  Established in 2008, Inside Pensions helps the trustee boards of pension trusts to run their schemes efficiently by ensuring compliant board administration and best practice governance. ...     [read more]

    By Greentarget on  16 February 2021 
  • Jersey Competition Authority confirms Tim Ringsdore as CEO

    TimRingsdore_JCRA_may20The board of the Jersey Competition Regulatory Authority has appointed Tim Ringsdore as its permanent Chief Executive Officer.  Tim has been fulfilling the role on an interim basis since May 2020, following the organisation's demerger from the Channel Islands Competition and Regulatory Aut...     [read more]

    16 February 2021 
  • Ocorian supports LSE-listed digital fund

    OcorianLogo_apr20Ocorian has supported the launch of Cordiant Digital Infrastructure Fund – said to be Guernsey's first London Stock Exchange-listed fund focused on investing in digital infrastructure assets.   The fund, managed by Canadian asset manager Cordiant Capital, has listed on the Specia...     [read more]

    By Ocorian on  16 February 2021 
  • LV Care Group appoints Clinical Director

    Tracey Gentry_LVCare_feb21LV Care Group, the provider of care services in Jersey and the Isle of Man, has promoted Tracey Gentry from Care Manager to the newly formed role of Clinical Director for the group.  Tracey joined the LV Care Group in 2019 and has a 25-year career in the sector, managing large care homes ...     [read more]

    By Liquid on  16 February 2021 
  • Monterey unveils 2020 Jersey funds report

    MontereyInsight logo 2020New findings from Monterey Insight reveal the market shares of all service providers in Jersey’s fund industry. The 26th annual Monterey Jersey Fund Report highlights that fund assets serviced in Jersey rose to $493bn at the end of June 2020, up 2.5% from $481.2bn in 2019.  The number o...     [read more]

    By Monterey Insight on  15 February 2021 
  • JTC acquires Indos Financial

    JTC Logo 2018JTC has acquired London-based funds management specialist Indos Financial.  According to press reports, the deal is for a maximum consideration of £12.5m, with an initial consideration of £10m in cash and £1m in JTC equity. A further £1.5m is said to be available t...     [read more]

    By Crystal PR on  15 February 2021 
  • PraxisIFM appoints Stephanie Coxon to board

    Stephanie Coxon_Praxis_feb21PraxisIFM Group has announced the appointment of Stephanie Coxon to the board as a Non-Executive Director and Chair of the Audit Committee. She replaces Iain Stokes, who resigned from the board in December. Stephanie already serves as a Non-Executive Director of three London listed companies &ndash...     [read more]

    By Orchard PR on  15 February 2021 
  • VG names Sheena Huggett as Senior Manager

    sheenaHuggett_VG_feb21Fiduciary and administration solutions provider VG has appointed Sheena Huggett as Senior Manager to support the expansion of VG’s private client team.  Sheena brings to the role more than 15 years’ experience managing a large and complex portfolio of clients, including internation...     [read more]

    By VG on  15 February 2021 
  • Hawksford announces Jersey promotions

    Ian Vieira_Hawksford_feb21Financial services specialist Hawksford has promoted 36 staff to new roles across its corporate, funds and private client company’s global offices. Three of these are to Associate Director roles within the firm's Jersey head office.  Ian Vieira (pictured right), who joined Hawksford ...     [read more]

    By Liquid on  15 February 2021 
  • Guernsey property prices: highest rise since 2008

    Guernsey propertyGuernsey's Local Market has experienced the largest annual rise in property prices since 2008, according to the latest Residential Property Prices Bulletin from the States of Guernsey.  The average home in the bailiwick now costs £493,174. And a total of 345 Local Market transac...     [read more]

    By Skipton International on  15 February 2021 
  • Enness ranks Jersey as IFC property hotspot

    Enness logoResearch by high-net-worth mortgage broker Enness Global has revealed the cost of purchasing a property across the world’s international finance centres.   While the likes of Hungary (£61,368), Ireland (£163,220) and Cyprus (£192,977) offer relatively affordable options,...     [read more]

    By Agility PR on  12 February 2021 
  • IQ-EQ appoints Mirek Gruna to senior Jersey role

    MirekGruna_col_feb21Investor services group IQ-EQ has appointed Mirek Gruna to the newly created position of Chief Commercial Officer for Jersey. Mirek brings to the firm more than 15 years’ experience in financial services on the island, with a focus on working with institutional investors to oversee governance...     [read more]

    By Prospectus Group on  12 February 2021 
  • Ogier promotes Rachael Reynolds to Global Senior Partner

    RachaelReynolds_Ogier_feb21Ogier has promoted dispute resolution lawyer Rachael Reynolds to Global Senior Partner, based in the Cayman Islands. Having joined Ogier in 2007, Rachael has led the Cayman litigation team on some of the highest profile cases in the islands over the past decade, including acting for investors in th...     [read more]

    By Crystal PR on  12 February 2021 
  • Carey Olsen and IQ-EQ support QPE fund launch

    CareyOlsen logo_jul19Carey Olsen's investment funds team in Guernsey, together with the Guernsey funds team of investor services group IQ-EQ, have advised Queen's Park Equity (QPE) on the launch of its debut fund, Queen's Park Equity Partners I. The fund, raised entirely during the coronavirus pandemic, clo...     [read more]

    By Carey Olsen on  11 February 2021 
  • JFSC announces NRA accountants webinar

    JFSC NRA event feb21The Jersey Financial Services Commission has announced details of the next in its webinar series covering the findings and recommendations of the government’s National Risk Assessment report. The webinar will focus on accountants and will take place on Wednesday 17 February at 14:00. The hou...     [read more]

    By Jersey Financial Services Commission on  11 February 2021 
  • Ogier announces Guernsey promotion

    MichelleWatsonBunn_ogier_feb21Ogier has promoted Michelle Watson Bunn to Managing Associate in its corporate and funds team in Guernsey. After an early career with London Stock Exchange and law firm Bird & Bird, Michelle joined Ogier in 2015 as an Associate.  She was promoted to Senior Associate two years later, worki...     [read more]

    By Crystal PR on  10 February 2021 
  • Euromoney reveals private banking survey results

    Euromoney Private Banking 2020Euromoney has revealed the results of its Private Banking and Wealth Management Survey for 2020. More than 2,000 private bankers from around the world took part in the latest survey. In the rankings for Best Private Banking Services Overall, UBS stayed in the top spot, as last year, with Credit Su...     [read more]

    By BL Global on  10 February 2021 
  • Kendrick Rose hires Mark Hucker as Director

    Mark Hucker_Kendrick Rose_feb21Kendrick Rose has appointed Mark Hucker to the role of Director, specialising in recruiting for senior roles in Jersey. Mark joins the firm having run businesses in the fund administration, banking and fiduciary sectors in the Channel Islands over the past 20 years.  He has spent the past fou...     [read more]

    By leadership writing on  9 February 2021 
  • Guernsey allows more time for regulatory returns

    GFSC logoThe Guernsey Financial Services Commission has announced that late filing fees will not be applied to regulatory returns due to be submitted between now and the end of June, provided they are submitted within two months of the original deadline. Although the timelines on the Commission’s onli...     [read more]

    By Guernsey Financial Services Commission on  9 February 2021 
  • Insurance specialist SRS to open Guernsey office

    SRS logo_feb21Insurance management and consulting services provider Strategic Risk Solutions (SRS) has announced that it is setting up an office in Guernsey. The firm currently operates from the US, Europe, Barbados, Bermuda, Grand Cayman and South Africa. Peter Child (pictured), who has been appointed...     [read more]

    By SRS on  9 February 2021 
  • GFSC elects new Vice-Chairman

    SimonHowitt_th_GFSCThe Guernsey Financial Services Commission has elected Advocate Simon Howitt as its Vice-Chairman.  He succeeds Bob Moore, who stood down as a Commissioner at the end of January after nine years’ service. Simon has over 30 years’ experience as an Advocate and is a Consultant at Ba...     [read more]

    9 February 2021 
  • JFSC reports 24% rise in fintech enquiries

    JFSC logo Fintech enquiries at the Jersey Financial Services Commission’s Innovation Hub grew by 24% in 2020, according to the JFSC's latest FinTech and Innovation Report. According to the report, the JFSC helped 74 businesses with queries about how to develop innovation in financial services and h...     [read more]

    By Jersey Financial Services Commission on  9 February 2021 
  • Digital Jersey presents Tech Awards

    DigitalJersey Tech Awards 2020Digital Jersey has announced the winners of this year's TechAwards. The awards, presented at an online event on Friday 5 February, aimed to celebrate the best of Jersey’s digital talent, creativity and entrepreneurship.  The judging panel comprised: Dave Cartwright, Grant Thornton; ...     [read more]

    By Digital Jersey on  8 February 2021 
  • IoD Jersey event focuses on pandemic lessons

    IoD LogoIoD Jersey has put together a panel of specialists to discuss how businesses are adapting to an uncertain future as we learn from the negative and positive results of dealing with Covid-19 in the workplace. The event – A Brave New World – will be held online and is free to attend on Wed...     [read more]

    By IoD on  8 February 2021 
  • Carey Olsen supports launch of Guernsey venture capital fund

    CareyOlsen logo_jul19Carey Olsen's investment funds team in Guernsey has advised RTP Global on the launch of RTP Global Partners III (Fund III), the venture capital firm's latest early-stage tech-startup focused fund.   Fund III, which held its first closing with commitments of $650m, is RTP Global's fi...     [read more]

    By Carey Olsen on  8 February 2021 
  • C5 Alliance promotes Mark McLachlan

    MarkMcLachlan_C5_feb21C5 Alliance, part of BDO in Jersey, has promoted Mark McLachlan to Director of Managed Services.  Mark has more than 20 years’ experience in the legal, fiduciary and banking sectors. He has been with C5 since 2017, the past two years as Head of Managed Services. Prior to this, he spent ...     [read more]

    By C5 Alliance on  5 February 2021 
  • VG names three new Managers

    VG_Paul BulstrodeVG has announced three appointments to its management team. Joining VG from Intertrust, Christie Barette has become a Manager within the wealth structuring team, where she is responsible for providing technical support for client services.  Christie brings to the firm more than 30 years' ...     [read more]

    By VG on  5 February 2021 
  • JFSC to hold compliance monitoring webinar

    JFSC logo The Jersey Financial Services Commission has announced that it will be holding a compliance monitoring (CMP) webinar on Wednesday 24 February at 14:00. At the webinar, JFSC Examinations Head of Unit Amanda Reilly and Senior Manager Nicky Fagan will focus on the value of effective CMP, which enables...     [read more]

    By Jersey Financial Services Commission on  5 February 2021 
  • Ogier advises on acquisition of Priory Group

    Ogier logo_official_jul19Ogier has assisted London law firm Bristows, representing Waterland Private Equity Investments in its £1.1bn acquisition of the Priory Group from Acadia Healthcare Company.  Waterland said it would combine the Priory Group with German neurology specialist Median to create a rehabilitatio...     [read more]

    By Crystal PR on  4 February 2021 
  • Maples Group appoints Tim Morgan as Partner

    Tim Morgan_Maples_feb21Maples and Calder, the Maples Group's law firm, has recruited Tim Morgan to its Jersey office as a Partner.   With over 17 years' experience in the Jersey investment funds market, Tim has acted on funds transactions across various asset classes, including private equity, venture, growth...     [read more]

    By Maples and Calder on  4 February 2021 
  • JTC supports Amaggi on sustainability bond issuance

    JTC Logo 2018JTC has supported Brazilian grain and fibre company Amaggi on its offering of a $750m aggregate principal amount of 5.250% notes due 2028. This debut cross-border bond issuance by Amaggi was structured as a sustainability bond. JTC’s team in Luxembourg, led by MD Joost Mees, worked with the A...     [read more]

    By Crystal PR on  4 February 2021 
  • EY ITEM Club publishes Winter Forecast

    EYlogo_feb21The Channel Islands are better placed than many jurisdictions in dealing with the ongoing economic risks and uncertainties brought about by the pandemic and Brexit. So says EY, following the publication of its latest EY ITEM Club Winter Forecast. According to the report, the UK economy looks l...     [read more]

    By EY on  3 February 2021 
  • ID Register gains regulatory approval

    ID Register logoThe ID Register has been licensed by the Guernsey Financial Services Commission to carry out controlled investment business.  The ID Register was spun out of Apex Group in a management buyout led by Tim Andrews last September. As an independent global hub for investor onboarding and regi...     [read more]

    By The ID Register on  3 February 2021 
  • CIPD Jersey Branch announces online conference details

    CIPD logo_feb21The Jersey Branch of the Chartered Institute of Professional Development (CIPD) is inviting representatives of all island businesses to join its annual conference next week. The event – entitled HR’s Role in the Economic Recovery – would usually take place over one day, but this y...     [read more]

    By Liquid on  3 February 2021 
  • Eprivateclient unveils 50 Most Influential list for 2021

    eprivateclient 50 most influential 2021The latest 50 Most Influential list has been published by eprivateclient this week. The list, which features a range of lawyers, accountants, trustees and intermediaries, aims to recognise the top individuals advising private clients and driving innovation in the sector across the UK and Crown...     [read more]

    By BL Global on  3 February 2021 
  • Ardent Chambers recruits Advocate Michael Cushing

    Michael Cushing_Ardent_feb21Ardent Chambers has expanded its team of litigators with the addition of Jersey Advocate Michael Cushing. Michael brings to the firm 30 years’ experience of complex commercial, corporate and trust litigation and advisory work in Jersey and the UK. He joins Ardent after 16 years in the J...     [read more]

    By Ink Blot Creative on  3 February 2021 
  • Vistra acquires in Brazil

    Vistra logoFInancial services provider Vistra has acquired Brazilian firm Jotaerre, a specialist in services tax (ISS) calculation and collection/payment. According to Vistra, the acquisition enhances the firm's presence in Brazil, allowing it to offer international and local clients a broader range of co...     [read more]

    By Vistra on  2 February 2021 
  • Hawksford names Associate Director

    Rebecca Cox_Hawksford_feb21Hawksford has named Rebecca Cox as Associate Director, based in its London office.  Rebecca brings to the company more than 15 years’ experience providing corporate and financial reporting services to international clients.  In her new role, she will focus on expanding Hawksford&rs...     [read more]

    By Liquid on  1 February 2021 
  • Viberts announces three promotions

    GilesEmmanuel_VibertsViberts has announced three promotions – Karla Summers-Shaw from the Private Client team and Oliver Hughes from the Corporate team become Associates, and Giles Emmanuel from the Dispute Resolution team moves to Senior Associate. Giles (pictured), an Advocate, has been with Viberts since 2019 ...     [read more]

    By Viberts on  1 February 2021 
  • Private Client Global Elite revealed

    PrivateClientGlobalElite logo_feb21Legal Week has published the 2020/21 edition of its Private Client Global Elite Directory, which includes a number of professionals from Jersey and Guernsey. Launched in 2017, the Private Client Global Elite is global directory of the world’s top private client and trust? and estates litigati...     [read more]

    By BL Global on  1 February 2021 
  • UBS releases latest investor survey results

    UBS logoInvestors are increasingly optimistic about their regional economic outlook and the equity markets, according to UBS’s latest Investor Sentiment survey, which polled more than 4,000 investors and business owners across 14 markets globally in late December and January.    A majority o...     [read more]

    By Refinery on  1 February 2021 
  • TISE appoints Anthony Byrne as Head of Bond Markets

    AnthonyByrne_TISE_jan21The International Stock Exchange (TISE) has appointed Anthony Byrne to the new role of Head of Bond Markets.   Based in Ireland and operating across primarily Dublin and London, Anthony joins The International Stock Exchange Group (TISEG) having previously held senior executive positions a...     [read more]

    By TISE on  1 February 2021 
  • Black Vanilla recruits Chloe Chescoe as Account Manager

    ChloeChescoe_BV_jan21Chloe Chescoe has joined Guernsey-based PR agency Black Vanilla as an Account Manager.   Chloe, who is qualified through the Chartered Institute of Public Relations, recently returned to Guernsey after working in London. She brings her experience in global communications and media relation...     [read more]

    By Black Vanilla on  1 February 2021 

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