That said, the Island cannot afford to be complacent about its position in the marketplace, says Simon Morgan.
Mr Morgan is particularly well-placed to comment, given that he has trust and company business ‘in the blood’.
By coincidence his father, John, was responsible for the predecessor of Coutts Offshore in Cayman, the firm for which Simon is now head of trust and fiduciary services.
Most recently, he’s also taken on the responsibility for Coutts’s trust business in Geneva and the Cayman Islands.
Here lies another coincidence, because although born in Trinidad, he lived in Cayman as a child and has since worked out there, as an employee of HSBC and Barclays banks.
All in all, some 23 years of experience in the industry tells him that the new legislation currently in preparation in Jersey will be of great benefit.
In particular, there will be a number of amendments to the Trust Law, followed by the new Foundations Law, with some welcome amendments to the Companies Law.
