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Jersey Represented At Key Moscow Forum

by Jason Gorringe,, London

29 March 2013

Jersey Finance's representative for Russia and the Commonwealth of Independent States Gary Hales attended the Moscow Financial Innovation Forum at the Russian Chamber of Commerce Conference Centre recently to create awareness of Jersey as a stable international financial center, its wealth management and funds offerings, and the role it plays as a gateway to accessing markets around the world.

Addressing attendees with a talk entitled "Jersey: integrity, quality and service," Hales highlighted Jersey’s geographical proximity to Europe, but its position outside EU jurisdiction, and its strong links with the Gulf, Far East and Africa regions. He pointed out Jersey's leading approach to adopting international standards, and in particular discussed Jersey's response to the European Union's Alternative Investment Fund Managers Directive, which will cater for both managers seeking to target Europe, and those operating outside the scope of the Directive.

The Forum, which was attended by a broad cross-section of around 200 senior funds, wealth management and banking professionals, provided an update on Moscow’s development as an international finance center and addressed some key trends in the international funds, banking, and private wealth sectors and shifts in the regulatory landscape.

Commenting on his experience at the conference, Gary Hales said: “Russia remains one of the best performing markets globally with 3.5% growth recorded over the past five years, and Jersey Finance intends to increase the time and resources devoted to building strong positive relationships in the region this year. It is clear that within Russia there is significant interest in Jersey as a politically neutral, stable, well regulated and firmly established finance centre - particularly against the backdrop of a persistently volatile European market."

“Jersey’s role as a partner jurisdiction for private wealth management business is a major area of potential growth, but we are also seeing opportunities in the funds and banking sectors too. While entering any new marketplace requires due consideration of regulatory and corporate governance issues, the feeling is that the high regulatory standards now expected in Jersey are actually a real attraction for Russian wealth management, funds and banking professionals using Jersey for high quality cross-border business.”

TAGS: Russia | Finance | tax | investment | business | India | interest | law | banking | financial services | international financial centres (IFC) | Jersey | offshore | corporate governance | professionals | standards | regulation | services

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