Guernsey delegation sets out to raise profile in Asia

A delegation of officials and business leaders from Guernsey is starting out on a three-centre trip to raise the Island’s profile across Asia.

The team have arrived at the first destination, Singapore and will then be moving on to Hong Kong before completing the tour in Shanghai.

Peter Niven, Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry, said: “We have made great strides during the last couple of years to increase awareness of the Guernsey brand in the rapidly growing Asian market. Wendy Weng and our representative office in Shanghai have been instrumental in that process but it is vital that we show our commitment to the region and continue to raise our profile.”

The Guernsey delegation in Asia includes the Chief Minister, Lyndon Trott; Mr Niven; Jonathan Hooley, Chairman of the Channel Islands Stock Exchange (CISX) and External Affairs Adviser to the States of Guernsey; and Mark Whiteley, Guernsey Registrar of Companies; as well as some of the Island’s leading finance industry practitioners.

Mr Niven added: “I am extremely pleased that we are taking such a strong delegation of officials and finance industry representatives from Guernsey. This has enabled us to put together a comprehensive itinerary where we will meet with government, stock exchange and regulatory officials, as well as practitioners in each of the centres. It is through cementing these relationships that we will build on the progress we have already made in developing business flows for Guernsey in the future.”

Guernsey is lead sponsor and exhibitor at STEP Asia held in Singapore between 19 and 21 October.

Mr Hooley will speak on ‘the new global framework for wealth structuring’ as well as participating in a panel session that looks at the contribution ‘offshore’ centres make to higher tax jurisdictions. Paul Hodgson, from Butterfield Trust in Guernsey, will speak on ‘Foundations and Trusts: How to decide which to use?’ and Mr Niven will chair a debate provocatively titled ‘Gordon Brown and Nicolas Sarkozy are right – tax havens really are finished.’

The delegation from Guernsey will visit Hong Kong on 23 and 24 October. The itinerary for this visit includes a half-day conference showcasing why the Island’s expertise in offshore investment funds makes it an ideal gateway for Asia to access European capital markets (23 October). The Guernsey team will also meet with the Hong Kong Stock Exchange and the Hong Kong Investment Fund Association.