Aztec boutique service keeps growing

THE Aztec Group has demonstrated its confidence in the future of Guernsey's finance industry by expanding into a bigger office. The fund administration business was founded in Jersey in 2001 with four staff and now employs 47 in both islands.

The Guernsey operation was established in NatWest House last June, but it soon outgrew the space and has now moved into a 3,500sq. ft office in Tudor House.

Guernsey director Rob Jones said: 'In 2006 there was a 30% growth in Guernsey's investment fund business and it is an area of finance where significant growth is likely to continue.

'Although small at present, we have had some excellent early successes - we are ambitious for growth, but not at the expense of service. We are a boutique operation providing a superior level of service to quality businesses. We will take on more staff to ensure an alignment of expansion and resources.'

He heads a team of seven here.

Group co-founder and managing director Edward Moore said it was extremely lucky to find someone of Mr Jones's calibre.

'We are excited to have developed so quickly and successfully into this vibrant funds jurisdiction. We have an excellent team in place and our new office is ideal, in terms of location and space, to support our growth strategy.'

The group provides investment fund managers and promoters with a comprehensive suite of administration services covering private equity, venture capital, real estate and other alternative asset class funds. It is responsible for the efficient administration of funds worth more than £6bn.