Guernsey beats Singapore for new Triangle headquarters
Triangle Group, established nearly 20 years ago in the UK, sources and manages international investments in bespoke residential and commercial property, resorts, hotels and restaurants, and other capital projects.
Rick Denton, the company's chief executive officer, is a well-known financial services professional in the island, having spent 25 years in private banking and trust, the past 17 of them locally, with companies including Bank of Bermuda, Fortis Intertrust and Barclays Wealth.
He said he had been prepared to move with the company to Singapore, but was delighted that it had chosen Guernsey as the new base for operations. One of the two founding families of Triangle is also considering a personal move to the island.
'Triangle was a great opportunity for me and for the island,' he said. 'This is the sort of business that Guernsey needs to attract – a major financial services group offering international investment, development and asset management.
'This move is good news for Guernsey.
'This kind of thing should happen a lot more. It is how I see the future for Guernsey – the island is unlikely to attract many more of the major banks today. Trust business is not what it was, most companies are having to look to emerging markets now rather than the UK, and as an island we have to find new niches.
'It strikes me that a good niche is to attract the super-wealthy to Guernsey and encourage them to start up businesses, invest capital into our economy, our expertise and our people.
'Triangle is the right sort of business for Guernsey – a little bit different and works for the skill set we have here.'
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