Profile: Hans Baerlocher
Jersey has made tremendous advances and has really
distinguished itself as a finance centre
Jersey is not going to hurt Gordon Brown. What other challenges does Jersey face, And finally… retirement – Jersey
Also, the Swiss don’t understand trusts, so and what changes would you like to see? or Switzerland?
there is scepticism there. They don’t appreciate I’m concerned about the present political I’ve always considered myself a long-term
that trusts are normally settled with taxed structure. If responsibilities and procedures guest and a friend of Jersey. It would be
money. To them trusts are like foundations, were made simpler, and if we could clearly presumptuous to call myself a Jerseyman,
which they see as a vehicle for hiding money. separate the judicative, executive and especially if you consider my accent. To me,
legislative branches, we could make being a long-term guest means you make
Key people
Is there anything we can do to change government substantially more efficient, serious commitments and that you have to
their perception? and even save money. contribute. Hopefully, it entitles me to my
The Swiss view of Jersey is so ingrained that I’ve been concerned about the high level of own mind and the right to express opinions
it needs a complete change of mindset. government expenditure over the last 10 years from time to time – and I say a grateful
That’s also evident when you look at the Swiss and feel that Jersey needs to look at how it’s ‘thank you’ to all who endure my, at times,
government’s stance in the face of moves managing its money. It is clear that we will obstinate proclamations with such tolerance
by the OECD to crack down on tax evasion. have to revert to a more prudent economy and patience.
The Swiss are saying they’re not there to – one which adjusts spending to shrinking/ My real home is in the mountains of
collect taxes owed by foreigners, but if these shrunk revenues, and we need to consider this eastern Switzerland, where I still have a house
foreigners use you, it’s not just your problem during present public-sector pay negotiations. in my home village of Bütschwil in St Gallen.
Key location
it’s the problem of every other jurisdiction as Jersey’s public sector is very well paid and My family however, especially my children,
well. I’m not sure that they’re taking their a ‘poorer’ finance industry is already having to regard Jersey as home because that is where
responsibilities as seriously as they should be. compete with the States of Jersey for staff. The they grew up. We will probably have to find
government doesn’t seem to operate under some compromise. l
Now that Switzerland has indicated it will the same financial constraints as business and,
adopt the OECD standard, and is forging if that continues, we may create an artificial Guy Le Maistre runs Pr and
agreements with countries like France and brain drain away from the finance industry. communications consultancy exposurePr
the US, does it pose a threat to Jersey? Bedell Trust Suisse
Although Switzerland is now competing for
Fact file
non-doms, Jersey’s advantage – apart from
our physical proximity and shared language
Name: Hans Baerlocher
– is that we’re a common-law jurisdiction. In
Lives: St Helier
recent years, we’ve positioned ourselves to be
offshore for the UK, but not the EU, whereas
Married: To Porntip, for
over 30 years
Independent tailor-made fiduciary services to
Switzerland is now offshore for no one.
Children: Nathan (35), Olivia (25),
private clients and corporations including trusts,
Patricia (22) and Florian (15)
Are there other niche business areas with
Juggles: Career, Jersey Finance family foundations, offshore and Swiss companies
growth potential we should focus on?
(Board member), Highlands
I wouldn’t be surprised if there were
College (Governor) and Jersey
and related structures
opportunities for distressed asset funds – Bankers Association
especially if we see a continued downturn. Hobbies: Reading and collecting
I can also see some of the law firms positioning (art, old books, stamps, watches)
themselves as specialists in political lobbying,
as one sees in Washington DC or Brussels.
Because when it comes to regulation, there
needs to be a lot more knowledge and
understanding imparted to the various political
Please contact:
and governmental bodies.
The island is fortunate to have some very Katia Venchiarutti
creative talent in law and accountancy, and
+41 22 312 59 82
I see a lot of innovation spinning off from
katia.venchiarutti@bedellgroup.com
these firms. At the same time, Jersey remains
at the mercy of what happens elsewhere.
Vicki Lillicrap
For example, the funds industry is a little bit
+41 22 312 59 85
under threat because of the planned EU funds vicki.lillicrap@bedellgroup.com
directive. That’s why, ideally, you need to keep
your business model under constant review.
www.bedellgroup.com Jersey | Guernsey | London | Dublin | Geneva
28 businesslife.je August/September 2009
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