September 2011
Jersey has climbed two places to 21st in the world, retained its position as the highest rated offshore international finance centre and enhanced its global reputation, according to the most recent Global Financial Centres Index (GFCI) released on Monday 26 September 2011.
The following is a summary of Jersey’s positioning:
· Jersey is now ranked in the top ten worldwide locations for providing wealth management and private banking services
· It is fifth placed in Europe, just behind London, Zurich, Geneva and Frankfurt
· The Island has moved from being categorised as a ‘transnational specialist’ to a ‘global specialist’ centre, becoming the only offshore jurisdiction to achieve a ‘global’ profile, listed alongside centres such as Beijing, Dubai and Geneva
· Jersey continues to do well in terms of stability and is the 16th highest ranked centre globally in terms of reputation - the only offshore jurisdiction to appear in the top 20 centres by reputational advantage
Noting that confidence amongst financial professionals has risen since the last index for virtually all centres, the GFCI comments that Eurozone centres, such as Dublin, Luxembourg and Malta, have suffered in the rankings. It also states that offshore centres are now recovering as respondents recognise the contribution these centres can make to global finance, and that Jersey and Guernsey are working to change perceptions and to rise above the status of offshore specialist centres by being seen as more diversified.