28 September 2011
The latest Global Financial Centres Index (GFCI) published this week reveals that Jersey has climbed 2 places, retained its position as the highest rated offshore international finance centre and enhanced its global reputation.
The GFCI, which orders financial centres based on existing rankings and regular surveys among senior industry figures, is a widely respected benchmark.
Jersey now takes 21st place in the index, which is published every 6 months, putting it ahead of:
- Guernsey (31st)
- Isle of Man (40th)
- Cayman Islands (46th)
- Malta (70th)
Jersey has also climbed in the rankings for wealth management and private banking services, where it is now positioned 8th in the world and 5th in Europe, trailing only behind major city centres London, Zurich, Geneva and Frankfurt.
While Eurozone centres such as Madrid, Dublin and Milan have all fallen in the rankings, the index shows that there is an upward trend in ratings for the Middle Eastern centres and Hong Kong. Jersey has targeted international efforts in both of these regions with government delegations to China and the Middle East, and the opening of Jersey Finance offices in Hong Kong and Abu Dhabi.
Treasury and Resources Minister, Senator Philip Ozouf, said: "Jersey’s continuing rise in these important global rankings is proof of practitioners’ recognition of the Island as a well-respected international finance centre. Our performance in this latest index positions us well on the international stage and comfortably ahead of many key competitors."
Economic Development Minister, Senator Alan Maclean, said: "Jersey is the only offshore centre to appear in this latest index’s list of top 20 centres ranked by reputation, which is an endorsement of the high regard in which we are held. I welcome the contributions of the industry and of Jersey Finance in achieving this recognition for the Island."