Guernsey Finance, the promotional agency for Guernsey's
financial services industry, is more relevant today than ever in
its 20-year history, its Chairman has said.
Deputy Lyndon Trott, who took over as Chairman in 2016, said at
Guernsey Finance's Industry Update event that the island
continued to trade and thrive on the virtues of security, stability
and substance.
But in an environment which showed a growing trend for
consolidation across the industry, particularly with a "buy
and build" strategy in the fiduciary sector, there were
concerns that Guernsey firms may become "bolt-ons", as
part of a group headquartered in a competitor jurisdiction.
"We need to promote Guernsey and stay competitive –
the competition is aggressive," Deputy Trott said.
