Estera’s new office a vote of confidence in Guernsey

There are small details such as handy USB charging sockets on each desk, ideal for plugging in phones and devices. Then there are the bigger details such as the absence of any internal offices as such. Instead, the focus is very much on collaboration and interaction – with even the colour scheme and modern design carefully chosen to foster a positive environment.

The 100-strong local workforce of Estera, a global fund administration and fiduciary services provider, are moving in from the firm’s existing locations across the island. Guernsey MD Ethan Levner is proud of the new office and stresses it is all about providing the right environment for colleagues.

‘It’s one of our core values – and we don’t just pay it lip service. As you can see, the closer you look at this office, the more detail you’ll discover which is demonstrable evidence that a huge amount of thought and money obviously has gone into the design of this place,’ said Mr Levner.

‘We really wanted this office to be very much forward thinking, which I think you’ll see with the bright colours and innovative configuration. There are no offices.

‘We do obviously recognise the need for privacy. Of course we have got rooms, we have got phone booths. But we also realised for lots of things, just like the room we are sitting in, collaboration is probably best in a less formal environment.’

He added: ‘There’s a lot of thought gone into not just the seating arrangements but the colour scheme, the textures. It really boggled my mind when I saw just how much work had gone into this. So I think the more time that we spend here will more influence positively our working practices.

‘In our business, clearly when the people are happy they stick around and they perform better for our clients. There is a direct link. So I guess you could say our strategy for success and client retention is very much about looking after our people and making sure they’re happy, contributing and healthy.

‘There are lots of small details, whether it’s printers at either end, rubbish bins and recycling at the ends so that people get up and walk rather than just have their own place.

‘At the same time we recognise that our clients are institutions with very high standards and they’re under tremendous pressure. So you will see in our boardrooms they are more traditionally kitted out with all the latest tech.’

He also talked about the reasons for Estera investing in Guernsey, which forms a key part of the firm’s strategy for growth since 2016. In developing its local operation, Estera purchased Heritage Financial Services and Morgan Sharpe – which he said had great people, longevity in the team and client base as well as some of the best names in private equity.

‘Guernsey was a very prominent jurisdiction that we spent a lot of time looking at for a number of reasons,’ added Mr Levner. ‘Given our presence in other Crown Dependencies, Jersey and the Isle of Man, it was an obvious geographic fit.

‘We also wanted to increase our presence particularly in the world of institutional investors and private equity funds. Clearly Guernsey is amongst the best in the world in that market.

‘Before our acquisitions in 2017 of two leading private equity fund administrators we had clients of this nature, but we didn’t really have a scaled standalone presence with the great reputation that came along with the businesses that we have acquired. So it was clear that Guernsey made a lot of sense for us.

‘So, fast forward and here we are in 2019. We’ve got a large presence. We’ve got around 100 people. We’ve got an enviable stable of blue chip clients and many worldwide, globally recognised private equity funds. We’ve got strong relationships with the key players in the ecosystem here.

‘Part of what makes Guernsey great is of course that you have all of the infrastructure here. You have skilled professionals that will do everything that you need,’ he also said. ‘That really makes for a dynamic environment with a lot of momentum set to continue.’