Jersey Finance representatives and local practitioners have been making the case for the effectiveness of trusts and foundations in wealth management planning at a conference this month in Asia.
The sell out STEP Asia conference, entitled: ‘Trusts, Families and Business – An Asian Focus’, held in Singapore, involved more than 400 delegates from Asia, Europe and the USA and despite the gloomy economic conditions in Europe, the conference highlighted the optimism and success of the Asian market.
Jersey Finance Limited sponsored the speakers dinner on the eve of the conference and Heather Bestwick, Technical Director, Jersey Finance, had the opportunity to address the gathering.
Pointing to the 50 year finance industry milestone in Jersey this year, she highlighted that the trust and wealth management sector was a key pillar of the industry in Jersey throughout that time. Later in the conference Giles Corbin, Partner at Mourant Ozannes, spoke in favour of foundations in a lively panel debate with Christopher McCall, QC., a Lincoln’s Inn based lawyer from London.
Jersey Finance representatives also manned an exhibition stand during the two day conference.
Zhaoan Li (pictured), Head of Greater China Business Development for Jersey Finance, led the visit accompanied by Sean Costello, Head of Business Development for GCC and India and Heather Bestwick from Jersey Finance.
“The aim of our presence was to target China and India based business introducers and other intermediaries in the Asian marketplace and to outline our capabilities as a provider of wealth management structures,” says Li. “It was evident that there is considerable interest in foundations and their flexibility as an alternative to other structures and this is reflected in the close attention shown by delegates during the debate in which Giles contributed. It is encouraging too that there was recognition that Jersey was a jurisdiction of substance and we believe this will be a key differentiator for us in the years ahead in the region.”
Next stop in targeting the Asian market is the International Capital Conference 2011 held in Paris which features representatives from Western Companies doing business in China and India. This leading conference takes place between November 22 and 24 and Jersey Finance is a gold sponsor and will host and participate in a panel debate on listings opportunities using Jersey companies.