The objective of the framework is to ensure that the finance sector continues to drive sustainable economic growth and strengthen the foundations of its ongoing success.
It aims to achieve this through analysis of how industry competition is expected to evolve and how Guernsey can position itself for success, identification of emerging sectors and development of a long-term growth strategy, strengthening of regulatory, legal, and operational frameworks to support innovation, design of initiatives to address skills gaps through talent attraction, retention, and upskilling. Also in the development of marketing and innovation strategies to enhance Guernsey’s global standing. The Finance Sector Policy Framework will also agree, and prioritise, the joint steps required to capitalise on those opportunities.
‘This is a timely and important project for Guernsey,’ said Economic Development finance sector lead Deputy Andrew Niles.
‘The finance sector remains the engine room of our economy, and this framework will help ensure we remain competitive, forward-looking and aligned with emerging global trends.
‘I’m grateful to all members of the project board for coming together to support and assist in the delivery of this key piece of work.’
Representatives of all four parties have overseen a competitive tender process involving on-island and off-island experts with a demonstrable track record in working with international finance centres and governments across the world.
The preferred bidder has been confirmed as Oliver Wyman. The firm will begin work this month, with the project concluding during Q1 of 2026.
‘We’re not going to re-do the work that the island has already done. Much of that will provide the starting point for Oliver Wyman. What we want to do now is identify how we strengthen the areas where we have a competitive hold, expand existing areas into new and different geographies and products, and explore new and feasible opportunities where Guernsey can win,’ said Deputy Niles.
‘New opportunities will not simply arrive at our door. We must seek them out and ensure we invest in our future.’
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