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“We consider ourselves a strategic partner to the businesses we work with”


and direct market access, to investment reporting, client reporting, asset servicing, settlement and clearing as well as the custody of the back office functionality in a service model that suits the financial services providers we are dealing with.”


Open for business The launch of the new business and the opening of the office could not have come at more significant time, in that it coincides with the celebration of 50 years of Jersey’s finance industry. And Nabi is particularly thrilled by the quality of the team that has been put together. “There will be a small team to begin


with,” he explains. “We have just appointed a Country Manager – someone who is locally very much connected with the industry. We’re


bringing on board a local operations team and a compliance function – and we’ll develop our relationship management as we launch.” Nabi was particularly impressed by the pool of candidates. While acknowledging the islands have a limited market, he says there was a fantastic response to the recruitment adverts. While Nabi is very upbeat about the


innovative new offering from Pershing, one still has to ask the question: why the Channel Islands? The response could not be clearer. “Both Jersey and Guernsey are well established centres of excellence, and a great choice for private wealth and offshore asset servicing, so it was obvious when we looked at the location, the jurisdiction, the quality of the market, the infrastructure and the resources available as well as the proximity to the UK and mainland Europe that this was


the place to be. As for Jersey specifically, the level of expertise that resides on the island and the focus and the ability of the island’s financial industry made this an obvious choice for a number of reasons.” At the very least, Pershing is going to


generate a lot of interest in the Channel Islands – at the most it could revolutionise the way in which many financial firms operate. “This is a phenomenal opportunity for financial services providers in the Channel Islands to develop their business strategies in a way that will carry them well into the future,” Nabi says. “And we look forward to playing a significant role in their success.” n


The St Helier office opens later this year, subject to local regulatory approval. To speak to Jason Nabi, call 020 7864 8921


August/September 2011 businesslife.co 41


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