Jersey Financial Services Commission director-general John Harris said that Jersey’s most important sector was doing well despite some recent negative reports.
However, he said that he was concerned about its future.
Mr Harris said that the industry could be affected by the global impact of the rise of political populism, which was creating increasing business uncertainty.
‘If you ask me what our financial services industry will look like in three years’ time I would say that it is impossible to answer,’ he said during a speech at an Institute of Directors lunch.
‘Three years ago we were still in the aftermath of the financial crisis but now we seem to be recovering.
‘But since then we have had Trump, we have had Brexit and we have had Macron. So there is a lot of uncertainty and how this will affect our dominant industry over the next three years is very difficult to say.’
Mr Harris said, however, that the industry was doing well at present in the trust and fund sectors, despite a decline in the banking sector.
‘To quote Mark Twain, “Reports of our death have been greatly exaggerated”,’ he said.
