A New Era For International Centres In Wealth Management

Originally published in Private Banker International, February 2012

Fiona Le Poidevin, Deputy Chief Executive of Guernsey Finance, explores how the financial crisis has initiated a new era for international finance centres, such as Guernsey.

The financial crisis, which initially came to a head some three or more years ago, has proved to be a "game changer" for international financial centres.

The pre-2008 world of sustained growth is now long forgotten as we experience a continued Western economic downturn. As a leading international finance centre, Guernsey cannot be completely immune from these worldwide issues.

However, we have been able to absorb some of the most severe impacts due in no small part to our 50-year heritage in providing a wide range of financial products and services, including insurance, investment funds, fiduciary administration and banking.