Jersey Finance Chief Executive, Phil Austin is to leave the organisation in May to return to a senior role within the commercial sector.
Austin, who has been Chief Executive at Jersey Finance since its inception in 2001, is to become Managing Director of Equity Trust in the Channel Islands.
The Board of Jersey Finance has already begun the process that will lead to the appointment of Austin's successor but in the meantime he continues in his role as normal.
'Phil Austin was originally appointed at a time when there was no formal organisation in place in the Island to promote the Finance Industry and his first task, once appointed, was to lead the newly created body and make it an effective organisation that would represent the Finance Industry both at home and on the international stage,' says Pierre Horsfall, CBE, Chairman of Jersey Finance. 'He has made an enormous contribution to the success of the Finance Industry in those five years and we know that the structure and approach that Jersey Finance adopted with Phil Austin at the helm, has since been emulated by other competitor jurisdictions also.
'The Board is sad to see him go but understands that after five years he now wishes to take on a leading role once again in the commercial sector.'
Commenting on his decision to leave Jersey Finance, Austin says: 'I have accepted an invitation to go back into the Industry with Equity Trust, which is a leading independent trust and fiduciary business, at a significant time in their growth.
'I have enjoyed my five years at the helm of Jersey Finance immensely, particularly as I was involved from the outset and was able to help develop the concept and then lead the promotion of Jersey into the Industry's key global markets. However, I am now looking forward to a whole new set of challenges back in the Industry, though, naturally, I will remain a strong supporter of Jersey Finance.'
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