Mayor Of London Recognizes UK's Vital Partnership With Guernsey

by Amanda Banks, Tax-News.com, London

23 July 2010

During meetings held in Guernsey last week, the Lord Mayor of the City of London, Alderman Nick Anstee, endorsed Guernsey as an International Finance Centre (IFC) that is well-regulated and transparent, and beneficial to the economy of the City of London.

Alderman Anstee was in Guernsey on July 21 where he met with senior politicians and business leaders.

He commented that the island is a “very confident” and “professional” IFC which “is an integral component of the financial services operation that is the City of London.”

“I can begin to understand how the organisations such as the OECD and the IMF have endorsed the quality that exists within this centre,” Anstee said.

The Lord Mayor started his day by meeting with senior politicians, including the Chief Minister, Lyndon Trott and the Commerce and Employment Minister, Carla McNulty Bauer.

Commenting on the outcome of the day, Trott said: “It’s always enjoyable speaking to someone as knowledgeable as the Lord Mayor about financial services. It was a great opportunity to debunk some of the myths and misconceptions that simply don’t hold [true]. One of the things we talked about today is the old image of Guernsey as a tax haven. I believe, as the Lord Mayor has identified, that we have been able to show him with complete clarity the significance of Guernsey to the City of London and vice versa.”

The Lord Mayor also met with representatives from Guernsey Finance – the promotional agency for the island’s finance industry, the Guernsey Financial Services Commission (GFSC), the Channel Islands Stock Exchange (CISX), the Guernsey International Business Association (GIBA), the Guernsey Chamber of Commerce, the Guernsey branch of the Institute of Directors (IoD), and visited local law international law firm Carey Olsen.

Peter Niven, Chief Executive of Guernsey Finance, added of the visit: “The Mayor plays a pivotal role in promoting London and indeed the UK as a whole as an international financial services centre. It is therefore important for us to make sure he is fully informed about Guernsey and in particular our links to the City.”

“Having the chance to meet not just senior politicians but also some of the industry practitioners will provide him with a broader understanding of our value and will, I am sure, assist in enhancing our relationships both at home and abroad. Indeed, I am very much looking forward to joining the Lord Mayor during his visit to Beijing and Shanghai in September as this is an area where there is substantial potential for us to work together to mutual benefit – bringing business back from China to both the City and Guernsey.”

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