Jersey’s proactive and flexible approach to the adoption of new international regulation will ensure its funds industry can look forward to a positive future, according to Ben Robins, the new chairman of the Jersey Funds Association (JFA).
Elected into the position of chairman at the recent AGM (19 July) of the trade association that represents Jersey’s funds industry, Robins (pictured) is joined by Tim Morgan, who becomes vice chairman.
A partner and head of the funds practice area at Mourant Ozannes, Robins has extensive experience in investment funds, offshore capital markets and structured finance. Having qualified as an English solicitor with Speechly Bircham in London, he returned to Jersey to join Mourant Ozannes (then Mourant du Feu & Jeune) in 1997. He became a partner at the firm in 2002 and has headed its Jersey and global funds practice areas since 2008.
Robins has been a frequent participant in local industry working groups looking at key regulatory changes, including most recently the implementation of the EU Alternative Investment Manager’s Directive (AIFMD).
“With AIFMD coming into force last month, it is certainly an engaging time to take over as chairman of the Jersey Funds Association. With the pro-active approach Jersey has taken, I am convinced that we are in an extremely strong position to continue to act as a specialist centre for alternative funds business, both in and outside of Europe. It is particularly welcome news that, having now signed 27 bilateral cooperation agreements with EU members states, including the UK, Germany and France, the Jersey Financial Services Commission is now ready to accepting applications from local alternative fund managers enabling them to continue to access EU markets,” says Robins.
Morgan, who has been an active member of the JFA’s committee for several years and is a partner at law firm Ogier, adds: “Jersey’s funds industry has continued to perform well in 2013. The total net asset value of funds under administration in Jersey grew in the first quarter of the year by 6.5 per cent to surpass the GBP200bn barrier, while the alternative asset classes still represent over 70 per cent of Jersey’s funds business. With its new-look and highly experienced committee now in place, the JFA will continue to look carefully at the issues facing the industry and, by working closely with Jersey Finance and the regulator, strive to maintain Jersey’s position as a leading specialist European funds centre.”
Robins and Morgan replace former chairman Nigel Strachan and vice chair Edward Devenport, who have been at the helm of the JFA over the last three years.
The JFA has over 70 members, including firms spanning from niche independent Jersey-owned companies to global leaders.
