Wednesday, January 30, 2013
Jersey has received an "International Financial Center of the Year" award at a recent ceremony hosted by Citywealth International in London.
Now in its second year, the Citywealth International Financial Center Awards were launched to promote excellence and recognize financial centers that lead in the adoption of global tax standards. This is the first year that the awards have included "Top IFC" as an award category.
The awards are based on on-line votes which are monitored by an international panel of judges from all sectors with experience of working with advisors in each of the jurisdictions covered. In the IFC award category, Jersey received 33% of all the votes. Two-thirds of all votes received in favor of Jersey originated from persons in London, with a significant portion of the remainder received from Swiss practitioners and clients.
Karen Jones, Editor of Citywealth, said: "Jersey has received criticism and praise for implementing tough standards for those operating on the island to help businesses comply with international requirements as the world takes a dim view of tax evasion. In 2013 their strategy is starting to pay off and this win consolidates their position as a leading international finance center."
Gary Hales, Jersey Finance's business development representative in London, received the award on January 24, 2013, at the ceremony at the Landmark Hotel in London.
Welcoming the award, the Chief Executive Officer of Jersey Finance, Geoff Cook added: "It's important that Jersey continues to be judged positively and consistently for the quality of its services and regulation and we are delighted to have secured this latest award from Citywealth, the fourth such accolade Jersey has received in the last twelve months."
Last year, Jersey was judged as the "Best Offshore Center" in the annual investment management awards organized by Global Investor magazine, part of Euromoney. It also won the award of "Best IFC" at the International Fund & Product Awards organized by Incisive Media and "Outstanding International Wealth Financial Center" in the Private Banker International Awards.