Yesterday
(28 July) at the Ambassador of the Argentine Republic's Official
Residence in London, the Assistant Chief Minister, UK and
International Relations, Senator Freddie Cohen, signed a tax
information exchange agreement (TIEA) with Dr Ricardo Daniel
Echegaray, Head of the Argentine Federal Admi...
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29 July 2011
Collas Crill's property law team has been boosted by the recruitment of a new partner in its Jersey office.Jersey solicitor Martin Le Boutillier has joined the firm from Ogier. He specialises in commercial property, with a particular emphasis on the financing aspects of commercial developments a...
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29 July 2011
In addition to the new appointments made in the last few months, two further recruits have joined Trust Corporation to underpin the company's double-digit growth trajectory. Barry Moroney and Ewan Mackay have been appointed to boost accounting and legal services across both Trust Corporation and...
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29 July 2011
The Jersey Financial Services Commission (the “Commission”) and the French banking regulator, the Autorité de Contrôle Prudentiel (the “ACP”), have signed a Memorandum of Understanding (“MoU”) that will help facilitate co-operation between the two regulatory bodie...
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28 July 2011
August 2011 welcomes the launch of www.thetightspot.com, a luxurious online ‘one-stop-shop' for every woman's hosiery needs. Only best-selling and fashion-forward styles have been carefully selected to be stocked on the website, including prominent UK and European brands such as Henry Hollan...
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28 July 2011
Active Group has appointed Joanna Burroughs to the Board of Directors of its compliance and regulatory consultancy company Active Compliance Services Limited. Joanna joined the company from the Guernsey Financial Services Commission in 2010 as Manager of the Compliance Team.
Prior to joining Active...
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27 July 2011
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Jersey's insurance sector has welcomed the announcement from the island's financial services regulator, the Jersey Financial Services Commission (JFSC), that it has no plans to implement Solvency II measures in Jersey.Richard Packman, chairman of the Jersey Insurance Industry Association (JI...
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By Leah Dunford, Crystal PR on
27 July 2011
RBS International has increased its commitment to customer service with the appointment of a new Senior Bank Manager.
Racheal Coleman will take responsibility the RBS International branch in St Peter Port as well as the NatWest branches in Guernsey, Sark and Alderney. Racheal will also lead the Mor...
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27 July 2011
EFA have recently appointed Adam Pearce as a Senior Fund Accountant. He has responsibility for ongoing client bookkeeping and administration, with a particular focus on corporate structures.
After reading Materials Engineering at the University of Leeds, he returned to Jersey in 2001 and trained as...
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27 July 2011
Bob Moore, Managing Director of Butterfield's Guernsey operation for the past 14 years, has been appointed to a new global role within the Butterfield Group. He is succeeded by John Robinson, former Deputy Managing Director, who has been appointed Managing Director of Butterfield Bank (Guernsey)...
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27 July 2011
E-scape Interactive, the web design and digital marketing agency, has achieved Google AdWords Certified Partner status from Google. E-scape is the only business in the Channel Islands and Isle of Man to have attained the necessary standard.
The award is important because it enables local businesses...
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26 July 2011
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An expert panel of leading practitioners and regulators from Continental Europe, the UK and Jersey has given further confidence that the island's strategy for engaging with the Alternative Fund Managers Directive (AIFMD) is proving effective and that Jersey's growing funds industry is on tra...
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By Leah Dunford, Crystal PR on
25 July 2011
Following the launch of a China Rarities Index last month, rare stamp and collectibles dealer, Stanley Gibbons Group plc (LSE: SGI), announce their Asian expansion.
Jersey-based Stanley Gibbons Group plc, the AIM listed Company which trades in stamps, historical documents and rare signatures for c...
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25 July 2011
Peter Shirreffs, the former Regional Director of NatWest and Royal Bank of Scotland International, has joined the Board of Airtel-Vodafone as a Non-Executive Director.Mr Shirreffs retired early from banking in 2009 after 36 years with the RBS Group, having held senior management and executive roles ...
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25 July 2011
BARCLAYS Wealth has appointed Lucia Perchard as Vice President to its Wealth Advisory team in Jersey.
The experienced trust manager is responsible for key client relationships within the Wealth Advisory business in the island, in particular ensuring client service levels are exemplary and that tec...
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25 July 2011
The Lloyds TSB Foundation for the Channel Islands has a new Chairman.
Stephen Jones, a Jurat of the Royal Court of Guernsey, is well-known in the island for his work with a number of local charities over the years. He has been a trustee of the Lloyds TSB Foundation since 2009 and will serve a four-...
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25 July 2011
New trustees for the Lloyds TSB Foundation for the Channel Islands (left to right): Simon Howitt, Sarah Bamford and John Ferguson.
Three new trustees have been appointed for the Lloyds TSB Foundation for the Channel Islands.
Guernsey-based Jurat Dr John Ferguson, Sarah Bamford and Simon Howitt wi...
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25 July 2011
Jersey is now better placed to attract high net worth residents following changes to the Island's income tax laws.
The States have agreed to amend the Income Tax (Jersey) Law and Regulations in order to encourage high net worth individuals to invest in the Island.
The revised tax regime has be...
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23 July 2011
The results of the latest Jersey Retail Prices Index (RPI) report, which show that headline inflation was 4.5%, correspond with the independent Economics Unit's published forecast for 2011. Ministers have expressed reassurance that the measure of inflation is in line with expectations.
Deputy C...
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22 July 2011
The Channel Islands Skills Academy is a new pan Island training and consultancy business that aims to offer affordable accredited and non-accredited development programmes to Channel Islands businesses.
Susie Andrade, Managing Director decided to embrace the entrepreneurial spirit of the Channel I...
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22 July 2011
Ogier recently advised Basic Element and En+ Group on the acquisition by VTB Capital, the private equity arm of Russian financial services group VTB, of a 4.35% stake in En+ Group for $500m from Basic Element.
The team advising Basic Element and En+ Group at Ogier was led by partners Chris Byrne a...
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22 July 2011
Mourant Ozannes has acted as sole Guernsey legal counsel to Sanglier Pte. Ltd in respect of its 1.42 billion yen acquisition of the entire issued share capitals of two Guernsey companies from Japan Leisure Hotels Limited, a closed-ended investment company listed on the Alternative Investment Market....
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22 July 2011
Island Analysis has strengthened its research team in response to an increase in demand for its services.
The company won the Best Small Business Award at this year's Awards for Achievements and has seen a large increase in its workload as a result. It has now appointed James Travers and Chloe ...
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21 July 2011
Carey Olsen has appointed Michael McAuley as a new counsel to its litigation department in Guernsey.
Born in Canada and educated there, in England and in France, Michael's recent offshore trust experience includes seven years at Appleby in Bermuda where he practised in all areas of contentious...
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21 July 2011
The States of Jersey approved the Security Interests ( Jersey) Law 201- on 19 July 2011. It is likely to come into
force in the first half of next year. It changes the methods of taking and enforcing security over bank accounts, shares,
securities and other intangible moveable assets situated in Jer...
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21 July 2011
The States Assembly has agreed to increase Social Security contributions for
employers of higher earners.
From 1 January 2012, additional Social Security contributions will be payable on the
earnings of employees who have incomes above the current ceiling of £44,232 per
year. The new contributions ...
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21 July 2011
Guernsey's Chief Minister, Deputy Lyndon Trott, has returned to Guernsey after a series of meetings in Brussels – his first formal engagements with the EU since the launch of the Channel Islands Brussels Office in April.
Deputy Trott said:
"The Channels Islands Brussels Office means that we now ha...
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20 July 2011
The 2010 Annual Report of the JT Group is published today. For the financial year ending 31st December 2010, Group turnover was £96.2m, the highest in the Group's history. Profit before tax was £11.7m (£5.7m in 2009). A dividend of £4.5m was paid to the Group's shareholder, the States of Jer...
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20 July 2011
The Minister for Treasury and Resources, in accordance with the practice started in 2009, has published the 2010 accounts of 3 States-owned utility companies:
o Jersey Post International Limited
o Jersey New Waterworks Company Limited
o Jersey Telecom Group Limited
Senator Philip Ozouf said R...
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20 July 2011
Private Equity will continue to play an important role in the post-crisis environment say Ernst & Young.
Addressing an audience of over 60 finance professionals at the Royal Yacht on Tuesday (12 July), Ernst & Young Partner, Chris Matthews, and Senior Manager, Gayle Swanson, presented the r...
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20 July 2011
ESC officers have negotiated a reduction in university tuition fees for the next academic year – but further talks will be needed with UK universities to set the charges from September 2012.
In the short term there is good news for Jersey students. Tuition fees will be up to 7% cheaper for those wh...
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19 July 2011
The Treasury Minister has announced the launch of Value Jersey – a new way to inform islanders about progress on cutting costs in the public sector, to listen to feedback on savings proposals and to ensure that a focus on savings and efficiency remains a priority for the States.
In 2010 Jersey was ...
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19 July 2011
Richard Saunders, Senior Manager responsible for Butterfield Bank (Guernsey) Limited's asset management business, has been promoted to Head of European Asset Management.
His appointment will extend his responsibilities to include the Bank's onshore asset management business in London.
Mr....
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19 July 2011
Final preparations are underway for the Carey Olsen Inter Island Yacht Race as many Channel Islands' sailors get ready for the biggest race of the year.
The race was originally scheduled to take place on 18 June; however gale force winds resulted in the organising committee taking the decision ...
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19 July 2011
The UK Government has today announced that it will review the case for amending the taxation regime for remote gambling. This follows last week's Department of Culture, Media and Sport (DCMS) proposal to make changes to the regulation of remote gambling.
In a written ministerial statement to Pa...
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18 July 2011
The Alternative Investment Management Association (AIMA), the global hedge fund association, has created the AIMA Smaller Managers' Group.
The members of the group comprise AIMA manager member firms in Europe with $250 million or less in assets under management. The group is expected to meet on...
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18 July 2011
The Basel Trust Group is delighted to announce the acquisition of Hapoalim Fiduciary Services Limited, the Jersey trust arm of Bank Hapoalim (Switzerland) Limited. Back in 1996, the Basel Trust Group was delighted to have been chosen to work with Bank Hapoalim (Switzerland) Limited to develop its in...
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18 July 2011
Jersey Assistant Chief Minister, Senator Freddie Cohen and Treasury Minister, Senator Philip Ozouf have issued the following joint statement in response to a new bill proposed this week by US Senator Carl Levin. This is the second time Senator Levin has tried to introduce a ‘Stop Tax Haven Abuse Act...
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18 July 2011
LOCAL professionals and employers will be able to find out more about how developing new skills can benefit themselves or their business at open days to be held over the summer.The GTA University Centre will be staging the events on 19 July and again on 23 August. Fiona Naftel, chief executive of th...
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15 July 2011
Channel Islands based Stanley Gibbons announces a 6.5% rise in sales and increased market share 2010-11 for its consumer magazine Gibbons Stamp Monthly.
When an average of 12 titles a month are reported to be folding (“74 Titles Fold in First Half 2011” - Folio Magazine 30 June) the nic...
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15 July 2011
INVESTEC Bank (Channel Islands) Limited has seen its profits increase by £3.2m.
Results for the year ended 31 March 2011 show that the Channel Islands banking business, which is part of the international banking group Investec plc, has seen a post tax profit of £13.328m which is a circa 30% increas...
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15 July 2011
Over £8,000 has been donated to Les Bourgs Hospice by Carey Olsen staff in the past 18 months.
The hospice, which is currently undergoing substantial redevelopment, was chosen by employees as one of the law firm's charities to support during 2010.
“Carey Olsen was really pleased to suppo...
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15 July 2011
The latest results from the Jersey Business Tendency Survey, which aims to provide up-to-date detailed information about Jersey's economy; show a positive picture for Jersey's finance industry.
The survey, which is for the second quarter of 2011, found that financial services firms in Jers...
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15 July 2011
Guernsey's engagement with Washington has resulted in Democrat Senator Carl Levin removing the Island from his “blacklist”.
Guernsey's Chief Minister Lyndon Trott this week met with officials in Washington. The meetings continued a dialogue started nearly a decade ago to strengt...
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15 July 2011
Nigel Strachan has been re-elected as Chairman of the Jersey Funds Association (JFA) and Edward Devenport re-elected as Vice Chairman at its Annual General Meeting held on 7th July.
Also re-elected at the AGM was Nicholas Taylor as Treasurer, whilst chairmen of the JFA's sub-committees are now ...
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15 July 2011
Local web services company, Infuse Internet, will begin hosting the websites and email services of 400 Wave Telecom and Newtel customers from August.
Infuse Internet, which was established by entrepreneur Tom Hacquoil, provides web development, web design and web hosting, and will be offering its n...
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By Lisa Gutcher, Liquid on
14 July 2011
Pinel O'Shea has opened a London office at 133 Houndsditch (pictured), to provide a base for its business development activities as well as client meetings in London.
The move comes following continued growth for Pinel O'Shea throughout 2010 and 2011. The firm is enjoying successful busin...
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14 July 2011
The benefits and potential pitfalls of Jersey engaging in ‘public private partnerships' to undertake public capital projects and services will form the focus of the Institute of Directors' Annual Debate this year.
The event, entitled ‘Public Private Partnerships: a way forward for Jersey?&#...
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14 July 2011
Itex, Jersey's leading offshore IT services provider, is delighted to announce the recent appointment of Shaun Bennetts as the company's new Head of Managed Services.
Shaun has worked in the IT industry for over 15 years and brings a wealth of knowledge and experience to the role from both ...
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14 July 2011
ESMA publishes today a consultation paper (ESMA/2011/209) setting out its proposals for the detailed rules underlying the Alternative Investment Fund Managers Directive (AIFMD). This is in response to the request for assistance which the European Commission sent to ESMA's predecessor, CESR, in D...
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14 July 2011
The Old Government House Hotel and Spa, Guernsey, (affectionately known by many simply as The OGH), is thrilled to announce that it has been awarded Guernsey's first ever five star hotel rating. The five star rating was awarded by the Department of Commerce and Employment in Guernsey, following ...
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14 July 2011
The Barclays Wealth Community Team in Jersey has been awarded a prestigious Barclays Wealth Chairman's Award in recognition of its continued hard work and commitment to the local community through volunteering and fundraising. The team of local employees, Adele Langlois, Carol Bisson, Bobbie Rob...
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By Lisa Gutcher, Liquid on
13 July 2011
Generous visitors to this year's Barclays Wealth Jersey Boat Show have helped raise a total £5,280.71 for Wessex Cancer Jersey.Visitors to the event which took place over the first bank holiday in May, kindly donated £2,771.85 directly to the charity over the three-day event while visitors to th...
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By Lisa Gutcher, Liquid on
13 July 2011
• Wendy Leedham confirmed as Head of Islands Retail
• Simon Prescott appointed as Island Director, Jersey and confirmed as Head of Islands Corporate Banking
Russell Galley, recently appointed Managing Director of Lloyds Banking Group's International Wealth business, today announced his senior t...
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13 July 2011
Helen Hatton, former Deputy Director of the Jersey Financial Services Commission and Managing Director of Sator said:
“I am delighted Markus has joined the Sator team. He brings very significant experience, particularly in the AML/CFT, trust company business, investment and funds sectors. His...
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13 July 2011
Jersey based fund administration firm, Ipes, has added to its senior client services team with
the appointment of Joel Haskins as Operations Director.
Joel will take a lead role in client relationship management and the delivery of operational
excellence for the business in Jersey. He will work clo...
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12 July 2011
Today at the Embassy of the Republic of South Africa in London, the Assistant Chief Minister, UK and International Relations, Senator Freddie Cohen, signed a tax information exchange agreement in the presence of the Deputy High Commissioner, Ms B Qwabe.
Senator Cohen said, “The signing of a ...
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12 July 2011
Today at the Embassy of the Czech Republic in London, the Assistant Chief Minister, UK and International Relations, Senator Freddie Cohen, signed a tax information exchange agreement with His Excellency, Mr Michael Zantovsky, Ambassador of the Czech Republic to the United Kingdom.
Senator Cohen sai...
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12 July 2011
ESMA publishes today a review (ESMA/2011/194) of how securities regulators across Europe use options
and discretions under the Transparency Directive (TD). This mapping focused on those parts of the TD
and its implementing measures that the participating 29 EU/EEA Member States are allowed to apply ...
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11 July 2011
Panama today moved to the OECD's list of jurisdictions considered to have substantially implemented the standard for exchange of information when it signed a tax information exchange agreement with France. This brings Panama's total agreements to the critical 12 that meet the international s...
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11 July 2011
Jersey Finance has announced its plans to host a spectacular gala event in September to mark the 50th anniversary of the finance industry. The ‘Golden Gala' will bring together more than 500 members of the finance industry and the wider community in a unique fund raising evening set to generate ...
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By Leah Dunford, Crystal PR on
8 July 2011
Last night, Jersey's Atlantic Hotel reached the short list of just three entries for the coveted ‘Best Independent Marketing Campaign' accolade at the 2011 Cateys awards ceremony, following a comprehensive marketing campaign structured around the hotel's appearance on the BBC's The A...
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7 July 2011
A funds specialist at Mourant Ozannes was the only offshore lawyer to be shortlisted in the Women in Business Law Awards 2011.
Jacqueline Richomme, partner at the firm, was nominated in the Investment Funds category of the inaugural Euromoney Media Group event, which recognises the success and expe...
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7 July 2011
The Jersey Construction Council has welcomed the new regulations approved by the States to improve the system for controlling living and working in the Island.Earlier this week the States approved the Draft Control of Housing and Work (Jersey) Law which has been designed to monitor the Island's ...
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7 July 2011
A significant judgment delivered by the Jersey Royal Court on Tuesday, 21 June 2011, showed that Jersey has not followed a recent English court decision in an important part of trust law. The landmark ruling could, in circumstances where a case could be brought either in Jersey or England, attract a...
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7 July 2011
As one of the Vice-Chairs of the Global Forum Peer Review Group, Jersey has this week hosted a Global Forum assessor training seminar, which was attended by delegates from seventeen jurisdictions covering Africa, Asia, the Americas and Europe. The seminar was run by the Global Forum Secretariat with...
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7 July 2011
No hedge fund firm today should be designated a “systemically important financial institution” by regulatory authorities, according to the Alternative Investment Management Association (AIMA), the global hedge fund association.
As the Financial Stability Oversight Council considers and ...
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7 July 2011
On Tuesday 12 July 2011 at the Embassy of the Czech Republic in London, the Assistant Chief Minister, UK and International Relations, Senator Freddie Cohen, will sign a Tax Information Exchange Agreement (TIEA) with His Excellency, Mr Michael Zantovsky, Ambassador of the Czech Republic to the United...
[read more]
7 July 2011
Mourant Ozannes has advised Vallares plc, a Jersey company, on its flotation on the Main Market of the London Stock Exchange.
Vallares, a 'special purpose acquisition company' backed by former BP chief executive Tony Hayward and financiers Nat Rothschild, Julian Metherell and Tom Daniel, raised £1....
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7 July 2011
In its latest monthly UK Economic Outlook the Institute of Directors (IoD) says there is no case for raising interest rates this year. Raising interest rates now, when broad money supply growth is so weak, would be unprecedented. At no time in the past 25 years have interest rates been raised when t...
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7 July 2011
Guernsey's Nerine Group of Fiduciaries has been short-listed for Owner-Managed Trust Team of the Year in the prestigious Society of Trust and Estate Practitioner (STEP) Private Client Awards for 2011.
The STEP Private Client Awards are considered the industry standard and only the best of the b...
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6 July 2011
The IoD Jersey Branch welcomes Senator Philip Ozouf as their guest speaker at the lunch club meeting on Tuesday 12th July at the Grand Hotel.
Senator Ozouf will discuss the value secured from the Comprehensive Spending Review and how to get the Island moving onwards and upwards, including:
• Takin...
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6 July 2011
Volaw Trust & Corporate Services Limited has been shortlisted for the prestigious STEP Private Client Awards 2011 in the ‘Owner-Managed Trust Team of the Year' category.
The STEP awards highlight excellence and innovation among private client solicitors/attorneys, accountants, barristers, b...
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6 July 2011
Rosemary Marr, one of the founders of the Jersey branch of the Society of Trust and Estate Practitioners, has been appointed chairman of STEP Worldwide's Education Committee.
Mrs Marr is a regular speaker at STEP and other professional technical conferences and writes for and edits a number of ...
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5 July 2011
Carey Olsen property partner Davey Le Marquand has encouraged Guernsey property owners and residents to ensure they make a will and look at their existing wills in light of the States' decision to approve new inheritance laws last week.
The age-old Guernsey law of forced heirship (with its root...
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5 July 2011
Fairbairn Private Bank has been awarded Gold status by Investors in People (IIP). This is the highest level of accreditation possible and places the bank in the top 1% of IIP recognised organisations. This exceptional achievement marks a journey of continuous improvement and on-going business develo...
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5 July 2011
Ogier, one of the leading providers of offshore legal and fiduciary services has opened an office in Shanghai as it further expands its worldwide network. The move is at the heart of Ogier's strategy to provide the most innovative and comprehensive multi-jurisdictional services, through a signif...
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4 July 2011
The International Cricket Council (ICC) European Division 1 T20 Tournament will be held in Jersey for the first time ever, later this month.
Originally introduced to create a lively form of the game which would be attractive to spectators both at the ground and on television, T20 is full of action,...
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4 July 2011
Societe Generale Private Banking has been voted Best Private Bank in the Middle East by the Banker Middle East magazine following online votes received from a thousand readers.
This award underlines the high level of expertise and the strong professionalism across Societe Generale Private Banking&#...
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4 July 2011
Carey Olsen has advised Kolar Gold on the Guernsey aspects of its listing on the AIM Market of the London Stock Exchange. The company is the first Indian gold explorer and mine developer admitted to trading in the UK and has raised £12m in its initial public offering (IPO).
Kolar Gold has been esta...
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1 July 2011
Frequent car park users at Jersey Airport can now save themselves valuable ‘queuing time' at the pay machines by signing up for a new scheme, launched this week. The Rapide Pass is a prepaid car parking charge card, which allows users to swipe it at the car park exit barrier rather than having t...
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1 July 2011