Jersey’s long term prospects as a global funds domicile remain healthy - JERSEY by James Qualtrough A senior figure at State Street, the leading provider of financial services to institutional investors worldwide, believes that the future for Jersey’s finance industry remains a positive one with significant potential for growth in the funds sector. Damien Barry, Head of State Street’s EMEA Private Equity and Real Estate Fund Services business, visited the Jersey operation and also spoke at a State Street seminar for Jersey and Guernsey based Non-Executive Directors. He said that with global asset managers allocating more and more funds to alternatives, Jersey and Guernsey were set to benefit. Mr Barry indicated that Jersey’s potential as a favoured destination for funds extended also to increasing demand for loan origination schemes and in attracting sovereign wealth funds, especially those that invest in real estate. He added that he saw huge potential to secure more business from Asia and from US asset managers. The seminar, which was entitled ‘Evolution of State Street in the Channel Islands’, was held at its Jersey offices and was hosted by Mike Newton, Managing Director of State Street, Jersey. Also present was Tom Bieber, Chief Operating Officer of Alternative Investment Solutions, State Street, who was visiting from Boston. Ranked the number one alternative investment services provider globally, State Street is ideally placed to comment on trends in alternative investments. State Street’s EMEA (Europe, Middle East and Asia) private equity and real estate fund services business has its largest office in Jersey where around 300 employees are based and has offices in Guernsey, Dublin, London and Luxembourg. Mr Barry said that the firm was a global financial services provider, intent on offering a strong local presence. He said that State Street was positioned for growth in 2015 and are committed to the Channel Islands. Alongside Mr. Barry’s presentation, the keynote address was given by Geoff Cook, chief executive Jersey Finance Limited, who highlighted Jersey’s strengths as a jurisdiction, its important role globally as a gateway to UK and Western markets and also the growth evident in the funds sector during the last 12 months. ISLE-NEWS JERSEY Article : bit.ly/17iwlKp
Posted on: Wed, 07 Jan 2015 13:32:05 +0000
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