The arrival of unregulated funds has given Jersey a full range of structures, and a share of the market that would traditionally have gone to Guernsey. Foundations are also to become possible in Jersey during 2009, and an institute of law is being established as the local legal profession goes through a restructuring.
In 2009, leading Jersey firm Mourant du Feu & Jeune spun off its associated businesses. Its private wealth business was sold to the Royal Bank of Canada, while its corporate and fund administration business is going through an MBO, though will remain ‘best friends‘ with the firm. Although the law firm itself - which also has offices in Guernsey, London and the Cayman Islands - is unaffected by the changes, these developments are being keenly watched by other players in the market, most of whom have their own associated businesses.
The other three members of the Jersey ‘Big Four’ are Bedell Cristin, with offices in Guernsey, London, Dublin and Geneva; Carey Olsen, which keeps its practice local to the Channel Islands but has a London office and a substantial client base from the City, the Middle East, China, India and Brazil; and Ogier, which has a strong BVI and Guernsey presence.
Two Caribbean-headquartered firms have offices in Jersey. These are Appleby, which has recently opened a new Zurich office and announced its invitation to merge in October 2009 with leading Isle of Man firm Dickinson Cruickshank; and Walkers, which has recently opened a new Singapore office, and is undergoing a global restructuring.
The only Guernsey-based firm with a Jersey office is Ozannes, whose St Helier office was set up with a focus on corporate work, and has recently been hiring to grow a litigation practice in Jersey.
Crill Canavan and Voisin are local full-service firms with particular strength in litigation.