Recent major investment aimed at growth within Jersey’s financial services industry is a positive indicator of confidence within the market, according to Geoff Cook, chief executive of Jersey Finance.
The Ogier Group announced this week that Ogier Fiduciary Services has been subject to a management buy-out with ambitious growth plans, backed by private equity manager Electra Partners, whilst Apex, one of the world’s biggest fund administration firms, recently opened an office in Jersey.
This follows the results of the recent Jersey Business Tendency Survey, which found that just over half of financial services firms anticipate a rise in employment numbers and expect profits to increase over the course of the whole year.
Cook says: “We have been working hard to ensure that Jersey continues to offer an attractive, flexible and innovative environment. The significant investment stemming from the buyout of Ogier Fiduciary Services, which already employs over 330 people in Jersey, will enable real growth and expansion in Jersey and is fantastic news right across our funds, private wealth, capital and corporate services areas. In addition, Apex’s move to Jersey is a manifestation of the genuine uptick in confidence we have seen in Jersey’s long term future in recent months.”