Select a region
A new initiative is being launched in Guernsey with the intention of gaining a competitive advantage for the island’s fiduciary industry.
The Fiduciary Think Tank (FTT) has been developed by the Guernsey Association of Trustees (GAT) and is seeking volunteers. The FTT has been created to identify new products, services and legislative changes that will, at the very least, ensure that Guernsey keeps pace with its competitor jurisdictions in the fiduciary sector.
The group also intends to promote the future prosperity and development of the fiduciary sector in Guernsey through the identification and championing of suitable ideas by all key stakeholders.
After discussions between GAT, the Society of Trust and Estate Practitioners (STEP), Guernsey Finance and the Commerce and Employment department it was determined that an initiative would be beneficial to the industry on the island.
Michael Betley, Chairman of GAT, said: “We as a sector often struggle to have a constructive process through which ideas and innovations are concentrated. We want an informal body to formulate ideas and present the business case for them. To resource these ideas working groups will be formed to report back after further analysis and research has been undertaken. This is a real demonstration that industry, through its associations, is willing to support innovative ideas and is forward thinking. If we are to maintain and enhance our position as a key wealth management centre we need to make ourselves even more attractive to a wider audience. A think tank such as this will be the catalyst.”
The FTT is seeking volunteers from across the fiduciary industry and beyond to make up its committee. Professionals from the legal and accountancy sectors are amongst those that are sought to constitute the committee.
“It would be really nice to see fresh blood and to have new ideas coming through,” said Mr Betley.
Anyone who wishes to volunteer is asked to apply to GAT at info@guernseytrustees.org detailing their background and the value they think they would bring to FTT committee. Successful applicants will be chosen by a scrutiny panel consisting of key stakeholders. It is anticipated that four or five people will be invited to join the FTT after the interview process has been completed.
