The heads of some of the Island’s biggest trust businesses believe that the Jersey Financial Services Commission could show a greater degree of flexibility in their approach towards business coming from places such as Eastern Europe.
Peter Murley, of Hawksford, – which employs 160 staff and is based in Jersey – said that there was a need to ‘accommodate and celebrate the cultural differences of our potential client bases’.
His firm operates in Jersey, the British Virgin Islands, New Zealand, Singapore, Switzerland and the United Arab Emirates
Mr Murley says that there is a danger that Jersey will lose out on business in future to competing jurisdictions.
Recently the director general of the Jersey Financial Services Commission, John Harris, told a Jersey Finance conference that the Island was open for business from overseas.
But Mr Murley contended that the reality might be somewhat different.
