Pierre Horsfall Appointed Chairman Of Jersey Finance

Tax-News.com, London

07 February 2003

Pierre Horsfall, OBE, who retired from the Jersey Legislative body, the States, in December, has been appointed non-executive Chairman of Jersey Finance Limited, with effect from 1st February, 2003. Jersey Finance was established in May 2001 and represents the Island's finance industry. An organisation that is jointly funded by Government and the Island's finance industry, Jersey Finance is responsible for the promotion of the Island as an International Finance Centre of excellence both outside and within the Island.

Pierre Horsfall completed 27 years of unbroken elected service with the States of Jersey. As President of the Policy & Resources Committee, he was Jersey's leading politician at the time of his retirement from Government in December last year.

Pierre Horsfall's overseas participation on behalf of Jersey has been extensive. Following his election in 1993 as World Treasurer of the Commonwealth Parliamentary Association, his four year term of office involved him at a senior level with many parts of the Commonwealth including the Bahamas, British Virgin Islands, Singapore, South Africa, Canada and Australia. More recently he was an active member of the British Irish Council which involves the heads of Government of the United Kingdom, Ireland, Northern Ireland, Wales, Scotland, the Isle of Man, Guernsey and Jersey. He was Chairman for the third summit of the British Irish Council in June last year.

He also led the Jersey delegation involved in the negotiations between the Island and the Organisation for Economic Co-operation and Development (OECD) and with UK Ministers, regarding the European Tax initiative.

He takes over as Chairman of Jersey Finance from Geoffrey Grime who was elected a Deputy in the States Assembly in the elections in October. Mr. Grime will, however, remain a member of the Board of Jersey Finance.

Phil Austin, Chief Executive of Jersey Finance, commented:

"Geoffrey has been involved with Jersey Finance since before its formation. He was one of the guiding lights that helped to create the organisation and his experience and extensive knowledge of the industry will be missed, although I am glad to say he will still stay involved as a member of the Board.

"Pierre's agreement to join as Chairman is excellent news for the entire finance industry. He has been at the forefront of all the national and international negotiations that have affected Jersey and its finance industry in recent years. His political antennae therefore are finely tuned to global developments, his contacts with the UK Government and internationally are unrivalled in Jersey and he will undoubtedly be a superb ambassador for the Island. We are extremely fortunate to have acquired his services for the benefit of the finance industry."

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