RBS International has published its results for the first half of 2021.
Key points
• The bank generated an income of £256m and an operating profit of £173m.
• The balance sheet remains strong with a capital ratio of 18.6% and a loan to deposit ratio of 45%.
• Customer len...
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By Crystal PR on
30 July 2021
Simon Soar, the Chief Executive of the Jersey Hospitality Association, is stepping down after nearly four years to become Head of Hospitality and Tourism at Jersey Business.
Simon (pictured) joined the JHA in 2018, first as a Manager before becoming CEO of the trade association – which now ha...
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By Direct Input on
30 July 2021
Zedra has appointed Joe McBurney as Business Development Director to support its funds, active wealth and corporate services business.
Based in London, Joe will work with the active wealth team in Jersey, reporting to Head of Active Wealth Henry Kierulf, and in collaboration with David Rudge,...
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By Greentarget on
29 July 2021
Financial services consultancy Sionic has appointed Scott Lee as a Partner in the firm’s wealth management and private banking practice.
As part of his new role, Scott also becomes part of the leadership team for Sionic's Jersey practice.
Scott joins the firm from KPMG, where he h...
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By Sionic on
29 July 2021
Ogier has advised PizzaExpress on the Jersey law aspects of its offering of £335m of bonds and entry into its new super senior revolving credit facility.
The proceeds from the new bonds were used to refinance the group’s existing debt, representing a significant milestone for the restau...
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By Ogier on
29 July 2021
IQ-EQ has made 11 internal promotions in its Guernsey business, across the funds, private wealth, pensions, compliance, corporate and statutory teams.
The promotions include:
• Becky Dean - Senior Officer, Private Wealth
• Cameron Duckworth - Officer, Private Wealth
&bul...
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By Aspectus Group on
28 July 2021
Sanne is to acquire the European fund administration business of PraxisIFM Group for £54m – a deal that equates to 20% of PraxisIFM’s overall business revenue.
The acquisition is expected to complete during Q4 2021, subject to regulatory approvals.
Sanne said the acquis...
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By Sanne Group on
28 July 2021
Wealth management business Rathbone Brothers has released its interim results for the first half of 2021.
CEO Paul Stockton (pictured) commented: "Investment markets improved in the first half of 2021 as sentiment began to look beyond the pandemic. Continued organic growth also helped increase...
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By Rathbone on
28 July 2021
The UK’s economic growth prospects have again been upgraded in the latest EY ITEM Club forecast.
With Covid-19 restrictions lifting and the vaccines roll-out progressing, the EY ITEM Club Summer Forecast says the economy is now expected to grow 7.6% this year – the fastest rate of...
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By EY on
28 July 2021
Ocorian has appointed Marc van Rijckevorsel as Head of Business Development – Corporate and Fund Services for the US, based in New York.
Marc has extensive experience working with large private equity, real estate and infrastructure fund managers, as well as Fortune 500 companies.
...
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By Ocorian on
27 July 2021
Alongside its rankings for law firms and lawyers, Chambers and Partners has published Spotlight Tables in its latest High Net Worth Guide, ranking trust companies across the Channel Islands.
Trust companies in Guernsey
• Aquitaine Group
• Butterfield Trust (Guernsey)
• IQ-EQ
&bu...
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By BL Global on
27 July 2021
The Institute of Directors in Guernsey has confirmed that the theme for its 2021 Annual Convention will be sustainability and how it underpins the island’s global brand and wider economy.
Taking place on Thursday 14 October at Beau Sejour, the event is entitled Can a Small Island Make a...
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By Black Vanilla on
26 July 2021
Jersey consultancy Comnexa has appointed John Walsh as Professional Services Director.
John brings to the firm more than 20 years of project management experience, having led end-to-end software implementations across the technology, pharmaceutical and manufacturing sectors.
He joins Co...
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By Comnexa on
26 July 2021
Asset management specialist MJ Hudson Group has acquired Guernsey-based fund administration business Saffery Champness Fund Services (SCFS) for a cash consideration of £2.8m, subject to performance criteria over two years.
The acquired business, bought from accountancy group Saffery Cha...
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By MJ Hudson on
23 July 2021
As part of its mid-year promotions round, Crestbridge has named Paul Nayar (pictured) as its Jersey-based Chief Financial Officer.
Paul joined the firm in 2018 as Group Finance Director, following two years in senior roles with Zedra.
His earlier, mainly Jersey-based, career also include...
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By Crystal PR on
23 July 2021
The latest edition of the Chambers and Partners High Net Worth guide has been released, ranking the leading professional advisers in the private wealth market across Jersey and Guernsey.
JERSEY
Offshore trusts
• Band 1: Carey Olsen, Mourant, Ogier
• Band 2: Bedell Cristin, Wa...
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By BL Global on
23 July 2021
Professional services business JTC has issued a trading update in advance of its interim results for the six months ended 30 June 2021, which will be announced on 21 September.
Despite the ongoing uncertainty as a result of the pandemic, the company said it performed strongly during the first half ...
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By JTC Group on
22 July 2021
Investor Services group IQ-EQ has acquired Davy Global Fund Management (DGFM), part of Irish financial services business Davy Group, which serves a domestic and international client base from its offices in Dublin, London and Luxembourg.
The combination of IQ-EQ and DGFM creates a f...
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By Aspectus Group on
22 July 2021
The States of Guernsey and the UK Home Office have signed a Memorandum of Understanding setting out a framework for the licensing of medical cannabis in Guernsey.
Under the MoU, businesses can now apply to cultivate cannabis for use in cannabis-based products for medicinal use (CBPM) in ...
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By States Of Guernsey on
22 July 2021
RBS International has appointed Amelia Phillips as Head of Alternatives Client Management and Sales in Luxembourg.
Amelia, who has more than 17 years’ experience in the finance sector, will be responsible for leading RBS International’s depositary function, accelerating growth and...
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By Liquid on
22 July 2021
Businesslife's City of London Edition, exploring the growing relationship between the financial districts of London and the Channel Islands, is now available online.
The Channel Islands are an increasingly strong and stable partner and financial hub of choice for City of London financiers and U...
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By BL Global on
21 July 2021
Guernsey Finance Deputy Chief Executive Andy Sloan will be leaving the promotional body at the beginning of August.
Andy joined Guernsey Finance in August 2018 and has made key contributions to the development of the organisation's financial services strategy, including initiatives such as Sust...
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By We Are Guernsey on
21 July 2021
Stonehage Fleming is to acquire the private client services business of advisory, administration and family office firm Maitland.
On completion of the transaction, which is subject to regulatory approval in a number of jurisdictions, the business will transfer to Stonehage Fleming, bringing le...
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By Montfort Communications on
21 July 2021
Standard & Poor's (S&P) credit rating for Jersey is unchanged at AA-/A-1+.
In its latest review, S&P confirmed that there is no change to the long and short-term sovereign credit rating and that the outlook for Jersey remains stable.
In the review, part of the cyclical six-monthly ...
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By Government of Jersey on
20 July 2021
Kleinwort Hambros has announced three senior appointments in the UK and Channel Islands (CI Bank).
Phil McIlwraith (pictured) becomes CEO of CI Bank, subject to regulatory approval. Phil has 31 years’ experience with the Kleinwort Hambros Group, having served as CEO and Group Head of Tr...
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By Kleinwort Benson on
20 July 2021
Investec Bank (Channel Islands) has appointed Andy Smith as Manager of its Jersey branch.
Andy has more than 35 years' experience in banking and lending. He joined Investec in 2014, having spent 11 years with RBS International in the Isle of Man and then Jersey.
Prior to this, he h...
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By ORCHID on
20 July 2021
Collas Crill's Jersey office has assisted FRP's UK Restructuring Advisory team, as part of the sale of the Debenhams brand and assets, by advising on the creditors' winding up of two connected Jersey companies.
Under the £55m cash deal – facilitated by FRP, as th...
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By Collas Crill on
20 July 2021
The Jersey Financial Services Commission has updated its Sound Business Practice Policy following a change in legislation by the States of Jersey.
The policy explains the Commission's approach for granting Control of Borrowing (COBO) consents, which give permission to do business in Jerse...
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By Jersey Financial Services Commission on
20 July 2021
Online cosmetics retailer Feelunique, which was founded in Jersey in 2005, has agreed on a deal to be bought by French cosmetics giant Sephora.
The deal, which marks Sephora's first big push into the UK, values Feelunique at £132m.
Sephora has more than 2,600 stores across 35 count...
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By BL Global on
19 July 2021
Apex Group has announced that global investment firm Carlyle and sovereign investor Mubadala Investment Company have taken minority stakes in the business.
Carlyle and Mubadala have invested in the ordinary share capital alongside founder and CEO Peter Hughes, majority investor Genstar a...
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By Apex Group on
19 July 2021
HSBC has appointed Ian Raymond as Head of Mortgage Distribution in Jersey.
In his new role, Ian will take a lead on continuing to grow HSBC’s mortgage solutions business through the bank’s local branches and networks and its expat operation.
A mortgages expert with experience in domest...
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By Crystal PR on
19 July 2021
The Guernsey Financial Commission has launched a consultation paper on proposals for increasing the licence fees paid by firms. The consultation period will close on Wednesday 8 September.
Taking into account the Commission’s current and forecast financial position, changes to the regulatory ...
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By Guernsey Financial Services Commission on
19 July 2021
Global private wealth and professional services provider Equiom Group is redomiciling its corporate structure of holding companies from the Isle of Man to Jersey, subject to necessary consents.
Equiom Group CEO Mark Porter (pictured) commented: "We remain fully committed to our presence ...
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By Equiom on
16 July 2021
A cross-jurisdictional Carey Olsen team has advised West China Cement on its issuance of $600m 4.95% senior notes due 2026, which have been listed on The Stock Exchange of Hong Kong.
The company, a cement manufacturer and distributor in North Western China incorporated in Jersey, will use the...
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By Carey Olsen on
16 July 2021
The Jersey Financial Services Commission has updated its Codes of Practice on certified funds and fund services business, and its Jersey Private Fund (JPF) Guide, following its sustainable investments consultation – click here for details.
For funds that existed prior to 15 July 2021, there i...
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By Jersey Financial Services Commission on
16 July 2021
A group of representatives from local cannabis companies have formed the Channel Islands Cannabis Industry Association (CICIA) to act as a channel of communication for discussions and negotiations with government bodies.
The association was set up to provide a forum for the mutual exchange of ...
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By Alisha Smith on
15 July 2021
Apex Group has appointed Dave Taylor to the role of Director of Apex Fund and Corporate Services Guernsey.
Dave joined the company as a Manager following the acquisition of Ipes in 2019, and has most recently served as Head of Client Services for the firm's Guernsey business.
...
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By Apex Group on
15 July 2021
Jersey-based Integritas Wealth Partners has appointed Philip Legrand as Senior Wealth Partner.
Philip brings to the new role 12 years’ experience in wealth and investment management.
Before joining Integritas, he spent almost three years with UBS in a client advisory role, following fo...
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By Integritas Wealth Partners on
15 July 2021
Statistics Jersey has published the latest results from the Business Tendency Survey, which provides timely, qualitative information on the island’s economy.
Chief executives and managing directors are asked for their opinions on the current situation of their business compared with thr...
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By Government of Jersey on
15 July 2021
Suntera Global has appointed Ryan Taylor to the role of Head of Funds for Jersey.
In his new role, Ryan will help establish the firm’s funds business in Jersey, with overall responsibility for developing and managing the new fund administration team in the jurisdiction and growing its client ...
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By Crystal PR on
14 July 2021
Jersey law firm Le Gallais & Luce has promoted Michelle Palmer (pictured) to Senior Associate, working in the litigation and property departments.
Michelle joined the firm in 2018, advising on property and conveyancing, property litigation and personal injury.
Starting her career in the ...
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By Freedom Media on
14 July 2021
Real estate finance specialist Tristan Maultby and employment law specialist Sarah Ash have been promoted to Group Partners in Walkers' Channel Islands offices.
Tristan, who works in Walkers' Jersey banking and finance team, advises borrowers and lenders on all aspects of real estate financ...
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By Walkers on
14 July 2021
Jersey-based fintech company and due diligence specialist MYCDD has partnered with European identity verification platform provider IDnow.
The partnership allows MYCDD to offer clients an improved onboarding experience for all their due diligence documentation, while also ensuring high security sta...
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By Crystal PR on
14 July 2021
The International Stock Exchange (TISE) has joined the International Capital Market Association (ICMA), a not-for-profit membership association serving member firms in the international debt capital markets.
Headquartered in Zurich, and with offices in London, Paris, Brussels and Hong Kong, I...
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By TISE on
13 July 2021
IQ-EQ has appointed Andy Mallet as its Jersey Head of Operations.
Andy joins IQ-EQ from Apex Group on the island, bringing with him more than 15 years’ experience in Jersey financial services. This has also included senior roles with Pentera Trust, JTC and Link Group.
He has extensive ...
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By Aspectus Group on
13 July 2021
Ocorian has appointed Simon Percival as Group Head of Corporate Development.
Simon will be responsible for the merger and acquisition strategy and implementation to help build the Ocorian business.
He joins from global fintech software company Finastra, where he has been Head of Corpor...
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By Ocorian on
13 July 2021
The Jersey Financial Services Commission and the Government of Jersey are holding a free-to-attend event on 21 July to enable businesses and individuals to hear about two consultations currently under way on:
• Extending the civil financial penalties regime
• Streamlining the decision-maki...
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By Jersey Financial Services Commission on
13 July 2021
Accuro has announced four promotions in its Jersey office – Katie Douglas, Alex Zomparelli and Scott King to Associate Director, and Pauline Dron to Private Office Associate.
Katie (pictured) joined Accuro in 2017 and manages a portfolio of ultra-high-net-worth families who typically ha...
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By Accuro on
13 July 2021
Spending by UK businesses is set to surge in the coming months, according to Deloitte’s UK CFO Survey for Q2 2021.
In a shift away from last year’s top priority of cost reduction, more than three-quarters of CFOs (71%) expect rises in capital expenditure and 76% anticipate increas...
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By Deloitte on
12 July 2021
Alex Picot Trust has appointed Steve Gully as Director.
Steve is a private client trust professional with more than 25 years’ experience working with ultra-high-net-worth international families and their family offices.
He joins the firm from Accuro Fiduciary, where he has served as a Client...
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By Alex Picot Trust on
12 July 2021
Appleby has appointed Iain Millar as Group Partner in its Jersey office.
Iain specialises in all aspects of corporate and private equity work, M&A, banking, debt finance and real estate finance matters.
He has substantial offshore experience advising on all aspects of commercial real estate de...
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By Appleby on
12 July 2021
Saffery Champness Registered Fiduciaries has made eight promotions across the firm, including Guernsey-based Nicky Kendall and Tim Le Page, both of whom have become Senior Trust Managers, and Christianne Beardow, who has been promoted to Trust Manager.
Nicky has worked at Saffery Champn...
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By Infinite Global on
12 July 2021
Oben Regulatory has announced the opening of an office in the Isle of Man, which ensures provision of a service offering across all of the Crown Dependencies.
Steve Billinghurst (pictured), formerly a Partner of Deloitte and leader of PwC’s Advisory Services, will lead the new...
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By Oben on
9 July 2021
Carey Olsen has promoted seven lawyers across the firm's Guernsey and Jersey offices.
Taking the role of Counsel are Rose Clements (pictured), a specialist in Jersey banking, fund finance and real estate finance matters, and Julie Currie, a pensions specialist and member of both the Guern...
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By Carey Olsen on
9 July 2021
C5 Alliance, part of BDO in Jersey, has appointed Sarah Barthram as Head of Project Delivery, based in Guernsey.
Sarah has more than 14 years’ experience in financial services, including 12 with Lloyds Banking Group in the UK, where she held senior positions in the group transformation ...
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9 July 2021
RBS International has appointed Susan Fouquier as its new Head of Institutional Banking in Guernsey. Susan will also lead the Institutional Banking teams in the Isle of Man and Gibraltar.
Susan will be based in Guernsey, taking over the role from Rob Girard as he retires after 45 years at RBS Inter...
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By Liquid PR on
8 July 2021
PraxisIFM has acquired the yacht ownership services business of Abacus Trust Group in Malta, expanding its Private Client and Corporate division.
As a result of the acquisition, PraxisIFM will now be able to offer yacht ownership solutions and crew employment services, helping yacht owners understa...
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By Orchard PR on
8 July 2021
The International Stock Exchange (TISE) listed more than 500 securities in the first half of 2021, which breaks the record for the number of new listings during the opening six months of a year.
The 507 securities listed between the start of January and the end of June this year represents a 30% in...
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By TISE on
8 July 2021
Deloitte has made four recent promotions across the Channel Islands, with two in Jersey and two in Guernsey.
In Jersey, Marc Cleeve (pictured) and Nic James have been promoted to Partner and Director respectively and in Guernsey, Adam Hart and Bradley Choules have both been promoted to the position...
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By Black Vanilla on
7 July 2021
Lawyers from Carey Olsen's corporate team in Jersey have advised leading real estate investment fund manager Clarion Partners Europe (Clarion) on the €882 million sale of a corporate structure owning a portfolio of 31 institutional quality logistics properties.
Purchased by Dream Industria...
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By Carey Olsen on
6 July 2021
The Commission has today amended the Guernsey Green Fund Rules making two liberalisations based on industry feedback gathered during our thematic review of the Guernsey Green Fund Regime published in March. These amendments were consulted on as part of the Commission’s Spring Green Consultatio...
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By Guernsey Financial Services Commission on
6 July 2021
Jersey Finance is to host an event on Wednesday 14 July, entitled ‘Global Jersey – International Perspectives’, the overarching theme will focus on Jersey’s vital role and positive impact on global economies.
Panel discussions will look at the wider picture wi...
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By Crystal PR on
6 July 2021
The Commission has issued amendments to the country lists in Appendix C and Appendix I of the Handbook on Countering Financial Crime and Terrorist Financing reflecting the Financial Action Task Force’s updated list of jurisdictions under increased monitoring, which includes Malta, Haiti, ...
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By Guernsey Financial Services Commission on
6 July 2021
Aztec Group has supported northern European private equity investment firm FSN Capital on the launch of its latest mid-market fund, FSN Capital VI (Fund VI).
Fund VI was oversubscribed, closing above its original hard cap with commitments of €1.8bn. It will continue FSN Capital's inve...
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By Aztec Group on
5 July 2021
The International Stock Exchange (TISE) has launched a new market segment, TISE Sustainable, and joined the United Nations’ Sustainable Stock Exchanges Initiative (UN SSE).
With sustainable finance gathering momentum, TISE is seeking to play a greater role in facilitating the financing of a s...
[read more]
By TISE on
5 July 2021
TEAM has acquired JCAP, trading as JCAP Treasury Services, a Jersey-based provider of cash management services. JCAP has more than £1.3bn in assets under advice.
The total net consideration payable is up to £2.95m, of which £2,212,501 will be paid in cash and £737,...
[read more]
By Novella on
5 July 2021
Following recent expansion in Europe and North America, Crestbridge has appointed Dean Hodcroft to the role of Chief Executive.
Dean takes responsibility for the strategic leadership of the business and the continued delivery of client services.
He joins Crestbridge from real estate investme...
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By Crystal PR on
2 July 2021
Martin Moloney, the Jersey Financial Services Commission's Director General, is leaving the JFSC to take up the role of Secretary General of the International Organization of Securities Commissions (IOSCO).
Since joining the JFSC in February 2019, Martin (pictured) has led the organisation thro...
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By Jersey Financial Services Commission on
2 July 2021
BDO in Guernsey has promoted 12 of its staff across its audit, tax and business advisory services.
Amanda de Carteret and Dawn Sealey have been promoted to Advisory Directors in the business advisory stream, which offers regulatory and data protection advice and support to Guernsey’s re...
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By Orchard PR on
2 July 2021
Rothschild & Co has appointed Justine Walley (pictured) and Nathan Long as Client Advisers in its Wealth Management business. Justine joins as a Director and Nathan as an Assistant Director, both based in Guernsey.
Each has two decades’ experience working in the private banking and wealth...
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By Rothschild & Co on
2 July 2021
The Jersey Financial Services Commission has granted professional services provider Suntera Global a licence to provide fund administration services in Jersey.
The new licence enables Suntera Global to support private equity, real estate, venture capital and other alternative fund managers with a f...
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By Crystal PR on
1 July 2021
Jersey employment and health and safety specialist Law At Work (LAW) has appointed Heidi Gibaut (pictured) as its Group Managing Director.
Heidi has been with LAW since 2008 and last year stepped into the role of Managing Director of ASL Recruitment, which is part of the LAW Group.
A Fellow ...
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By Direct Input on
1 July 2021
Carey Olsen has promoted Elizabeth Killeen (British Virgin Islands), Denis Olarou (Cayman Islands) and Henry Tucker (Hong Kong) into the partnership, bringing the total number of Partners across the group to 62.
Elizabeth has been with the firm since 2014 and has a broad range of e...
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By Carey Olsen on
1 July 2021