Guernsey Climbs Specialist Finance Centre Rankings

by Jason Gorringe, Tax-News,com, London

16 September 2010

Guernsey has been placed fourth in this year’s rankings of specialist finance centres from global trade magazine The Banker.

The Island made the biggest gains in the top half of the table, improving its score by nine points from last year to jump up four places.

Peter Niven, Chief Executive of Guernsey Finance, said the improvement was ‘very encouraging’, stating: “This seems to be a reflection of Guernsey’s relative position in the wake of the economic crisis. We are seeing anecdotal and empirical evidence that suggests that the Island is bouncing back well, particularly in relation to some of our competitors. These rankings add further weight to that view. There are still some significant challenges ahead and we cannot be complacent but this is another reason to be positive about the future of Guernsey’s finance industry.”

Within the rankings of ‘specialised financial centres’, the Cayman Islands retained top position, while Bermuda (up two places on 2009) was second, followed by Jersey (down a place in third).

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