Peter Deacon will serve as the gateway to government, the regulator and Guernsey Finance in the new role, which is States-funded and was a recommendation of the new Finance Sector Growth Strategy, which was published earlier this year.
The States said Mr Deacon was selected after a competitive process and that he has had ‘a personal and professional’ connection with the Bailiwick from an early age, though no explicit business links. His role will be primarily as a one-stop shop to help businesses relocate or build business links, and the work is expected to be largely practical. Relocation will be done in partnership with Locate Guernsey.
In a 30-year career, Mr Deacon was a vice-president at JP Morgan in Hong Kong and co-founded a consumer and digital business which operates in seven countries.
Deputy Rhona Humphreys, finance sector lead at the Economic Development Committee, said the role would bring a fresh approach to anyone considering working with Guernsey.
‘Guernsey is committed to a serious growth strategy, and much of the groundwork is done,' Mr Deacon added.
‘Winning new business is the work of the island’s firms and its promotional agencies.
‘What I add sits on the public side of it – making sure the right conversations happen in the right order, and that a business arriving here is prepared for what will be asked of it.
‘A business moving jurisdiction is choosing a place to be for the long term, and people it expects still to be dealing with in 10 years. I am looking forward to spending time with industry, on-island and in London, over the coming months.’
Barnaby Molloy, chief executive of the promotional agency Guernsey Finance, said the appointment was a clear signal of working together to advance a growth strategy.
‘Peter will be an excellent first point of contact for businesses looking to explore Guernsey and will provide quicker connections to the right people, firms and resources, which is vital in a competitive international landscape.’
... And the island’s newest bank says they will be keen to come
A prospective shift to the left from a UK Government under new Prime Minister Andy Burnham could benefit Guernsey and Jersey when it comes to interest in moving out of the country, according to a local financier.
Jay Goss, co-founder of offshore bank Bank Aston, said his business had seen a surge in enquiries from high-net-worth individuals, funds and fiduciaries who were looking to move assets from the UK to the Channel Islands.
‘The Channel Islands appreciate the importance of business and wealth creators and have built a stable environment where both are welcome,’ he said.
‘Nobody knows what is going to happen next in the UK – and the possibility of higher taxes is causing wealth to consider its options.
‘They’re all looking for a more friendly business landscape – and understandably so.’
Last summer, Bank Aston became the first local bank in 30 years to be awarded a banking licence by the Guernsey Financial Services Commission. It was set up to target offshore trustees, investment funds and family offices.
Aston CM, the Aston Group’s payments and FX business based in London and Guernsey, is about to launch in Jersey, the company said, in response to demand from clients.
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