Guernsey has been named as the ‘International Finance Centre of the Year’ ahead of Jersey and the British Virgin Islands by the Society of Trust and Estate Practitioners (STEP).
“Winning this award is a tremendous achievement. To receive such recognition from STEP – which is the pre-eminent professional body for trust practitioners – is a major endorsement of the experience, expertise and innovation within the Island’s fiduciary industry,” commented Peter Niven, Chief Executive of Guernsey Finance.
“The award particularly acknowledges the forward-thinking nature of Guernsey’s fiduciary industry. This year the Island has introduced a new Trust Law, a new Companies Law and a new Company Registry and work is on-going to ensure that providers can offer their clients the very widest range of products and services, including Foundations," he added.
Mr Niven collected the award for ‘International Finance Centre of the Year’ at the STEP Private Client Awards 2008/9 in London on September 18, and as sponsor of the ‘Independent Trust Company of the Year’ category was onstage again to present that prize to Key Trust. Guernsey narrowly missed out on the award, where Nerine Trust Company – which was founded in the Island and still has it as the centre of its group operations – was shortlisted along with Stonehage.
Michael Betley, Deputy Chairman of the Guernsey Association of Trustees (GAT) and founding member of the STEP Guernsey branch, said: “This success for Guernsey reflects the proactive steps the Island has taken to meet the needs of our international client base. In addition, we are increasing our promotional activity in key European markets such as London and Geneva and building up our marketing in new jurisdictions like China and the Middle East. Both GAT and the Guernsey branch of STEP are constantly active in supporting such developments.”
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