The Board of Channel Islands Stock Exchange (CISX) has approved its 50th Member, KPMG Corporate Finance (CI) Limited. The firm joins as a Category 1 Listing Member, with effect from 24 August 2007.
'The Board is pleased to welcome KPMG Corporate Finance (C.I.) Limited to membership at a time of remarkable growth for the Exchange,' says CISX Chairman Harry Taylor, CBE. 'Having such a prestigious name as KPMG, which is synonymous with professional high standards, will further add to the international appeal of the CISX.'
Tamara Menteshvili, CISX Chief Executive, adds, 'The admission of our 50th Member is a significant milestone, having more than doubled the number of Members since the launch of the Exchange. We look forward to working with the KPMG Corporate Finance team in the Channel Islands to develop business opportunities and to attract further quality names to the Official List.'
Rob Hutchinson, Executive Director of KPMG Corporate Finance (CI) says he is delighted to have been accepted as a Listing Member.
'W see are acceptance as an endorsement of KPMG's expertise in the funds business,' he says. 'The Channel Islands Stock Exchange is an important element for the future growth of the funds business in the Channel Islands and membership allows us to continue to be part of this growth as well as providing an extension to the services we already offer our clients.'
Hutchinson believes that there has been a significant increase in listing work, particularly for private equity vehicles and their investments and that the growth in alternative investment funds in the Channel Islands had led to KPMG staff numbers doubling in the last four years
'KPMG's audit and tax practices are experiencing unprecedented growth and becoming a member of the CISX will complement the practices as private equity and closed ended funds continue to grow in Guernsey,' he said. 'The CISX, because of its pragmatic and cost efficient approach to listing, has gained a good reputation amongst our client base and as we are seeing more and more enquiries we are confident that this growth will continue.'