Jersey Funds Adapting

by Robert Lee, Tax-News.com, London

12 August 2010

Jersey is well placed to tackle challenges as it moves quickly to adapt to the changing environment facing offshore international financial centers, Nigel Strachan said in comments at his appointment as the new Chairman of the Jersey Funds Association.

“I am delighted to take on this role. Globally the funds industry faces interesting and challenging times. However as one of the main players in the offshore funds industry, I feel Jersey will be adept at rising to the challenges it faces in the current economic climate and in light of moves towards a more regulated industry across all jurisdictions,” Strachan opined.

“The Jersey funds industry has a highly experienced and motivated committee which will look at the issues facing the industry and strive to bring solutions to the table, work in partnership with Jersey Finance and maintain a good working relationship with the Jersey Financial Services Commission.”

The Jersey Funds Association (JFA) is an active trade association representing companies with Jersey offices operating in the funds sector. The Association has over 70 members with membership spanning from small Jersey-owned companies to global leaders such as State Street and JP Morgan.

Strachan is the Head of New Business at Kleinwort Benson, and a Chartered Accountant. Edward Devenport - to assume the vice chairmanship - is a Jersey solicitor and a Partner at Mourant Ozannes.

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