The office will provide fund administration, trust and company services to new and existing clients while complementing services provided by the group in Jersey, Luxemburg, the UK and the British Virgin Islands.
Paul Smith has been appointed to head up the office and is joined by Jo Nicholle, who will be working for the Guernsey funds practice as a director. Smith was previously managing director of RMB Investment Services and, prior to that, BNP Paribas Fund Services.
He said the new office would be key to JTC’s growth strategy, especially in the funds arena.
“The island has an entrepreneurial approach that makes it ideal for the establishment and administration of bespoke and specialist funds. Guernsey has the chosen jurisdiction for real estate, private equity, venture capital and infrastructure funds. We are also seeing particular interest in green technology issues such as renewable energy and environment funds.”
He added: “Guernsey’s fast-track application process for establishing new funds also gives it a distinct advantage over other jurisdictions and it leads the way in having more companies listed on the London Stock Exchange than any of its close competitors.”