GuernseyAntitrust/Competition Law
We all jealously guard our client relationships, and therefore the thought of an offshore subsidiary to a potential competitor may not at first be a compelling idea. However, the ease with which an administered bank can be established and the savings in costs when compared to a stand-alone bank has made the concept attractive to a growing number of institutions.
With near full employment and considerable pressure on the Island's resources, the idea of an administered bank was welcomed in 1987 when Banque Paribas Suisse sought permission to establish a branch and subsidiary in Guernsey and have them administered by Ansbacher rather than recruiting their own personnel and acquiring premises.
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