Offshore legal and fiduciary firm, Ogier, has announced plans to expand its operations to its Hong Kong office in order to provide more Guernsey offerings to the growing market in Asia.
The growing strength and development of emerging economies notably in Asia and in particular China, is one of the drivers behind this latest development, according to the firm. A considerable amount of planning and research has gone into this move by Ogier and having canvassed a number of clients and intermediaries in the region, significant interest in providing Guernsey services from Asia was evident, the firm said.
In order to bolster its operations in the Asia region, Marcus Leese, a partner at the Guernsey legal practice, will transfer in March to the Hong Kong office and start up a new Channel Islands practice there with Associate Laywer from Ogier Jersey. An Associate Director has also transferred to Hong Kong to establish a fiduciary services operation for Ogier.
“We have identified a keen interest in clients requiring Guernsey services in Asia. Having a physical presence there will mean we can advise clients in their own time zone and also promote the benefits of using Guernsey on a permanent basis in the region,” Leese explained.
William Simpson, Managing Partner of Ogier in Guernsey, said: “We have grown to such a size now in Guernsey that we have the resources in place to take this innovative step. This is the first time a Guernsey advocate will be operating in Asia which will undoubtedly help increase awareness of what the Guernsey finance industry can offer to a much wider audience.”
Peter Niven, Chief Executive of Guernsey Finance, the promotional agency for the island, said: “This is extremely positive news for Guernsey. It is now more than two years since we established our representative office in Shanghai and during this time there has been a considerable amount of effort dedicated to increasing awareness of the Guernsey brand in the region. I have always said that it is going to be a long road but we have made significant strides and this decision by Ogier to offer Guernsey law from their office in Hong Kong demonstrates that there is a demand to access the financial products and services offered by the island. Indeed, many of our independent fiduciaries already have offices in Hong Kong and hopefully we will see the Guernsey presence in Asia continuing to grow.”
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