JFA Briefing22nd February 2011
David VieiraHead of Marketing
Agenda
• Overview of Jersey Finance
• 2010 highlights
• 2011 strategy
• 2011 technical plans
• 2011 marketing plans
Jersey Funds Association Briefing | 22nd February 2011
Jersey FinanceRemit and
Activity
Jersey Finance promotes and develops Jersey as an international finance centre of excellence.
• Marketing activity and reputation management• Coordination of consultation processes for new legislation and regulation• Support and drive innovation and product development
Our primary objective is to communicate the many factors that make Jersey a leading international finance centre, including the experience and expertise of its practitioners; its political, economic and fiscal stability; and its high level of regulation and security.
Jersey Funds Association Briefing | 22nd February 2011
Jersey
Leadership• CEO, Geoff Cook
Technical• Technical Director, 2 x Technical
Managers, 1 x Rolling Secondee from Member Firm
Marketing• Head of Marketing, 4 x Marketing
Managers, 2 x Marketing Assistants
Special Projects • Head of Special Projects
Jersey Funds Association Briefing | 22nd February 2011
Representative Offices
Hong Kong Office• Established October 2009• Representative - Zhaoan Li
GCC Office• Opening March 2011• Representative – Sean Costello
Mumbai Office• Opening March 2011• Representative – Sean Costello, with support
in India from Kapil Dua and Jyoti Tathgur
Jersey Funds Association Briefing | 22nd February 2011
2010 Aims …
• Secure Jersey’s reputation
• Create new market opportunities
• Improve member and community engagement
• Progress Jersey’s offering in our core sectors
Jersey Funds Association Briefing | 22nd February 2011
Online• Increase in traffic from 4,000 unique visitors
per month to 12,000 • New China, India and Russia microsites
Public Relations• Continued high profile press campaigns• Advertising Value Equivalent - £1,021,772• Interviews achieved - 106
Community and Education •35 firms participated in the Schools Roadshow•1,959 member hours donated•1,950 pupils reached
Marketing Highlights 2010
Jersey Funds Association Briefing | 22nd February 2011
2010 Events and Visits ProgrammeLondonBristolBirmingham
ParisBerlin
BeijingHong KongShanghai
MumbaiNew Delhi
Moscow
Abu DhabiDubai
171 Member Firms1,700 Members
4,800 3rd Party Attendees40 Events and Visits
Jersey Funds Association Briefing | 22nd February 2011
Technical Highlights 2010
• Supported the development of 18 laws and regulations
• Supported by 5,700 hours of practitioner time, through Jersey Finance working groups
• Pro bono equivalent value of £2.8m
Jersey Funds Association Briefing | 22nd February 2011
The highest international standards
• G20, IMF, FATF, OECD• Basel (banking), IOSCO
(securities)• UK government reviews –
Edwards Report, Foot Review
The highest international standards adopted and applied consistently
Jersey Funds Association Briefing | 22nd February 2011
The Leading Provider in our Chosen Markets• Winner - Best Offshore
Centre, Global Investor Awards
• Winner - Best IFC, International Fund & Product Awards 2010
• Rated Number 1 Offshore Centre, 2010 GFCI Indices
Jersey Funds Association Briefing | 22nd February 2011
2011 Strategy‘Growth and Innovation’
Jersey Funds Association Briefing | 22nd February 2011
Global GDP GrowthProjected
Jersey Funds Association Briefing | 22nd February 2011
Real GDP Growth Forecasts
% yoy 20082009 2010
2011(GS)GS Consensus* GS Consensus*
USA 0.4 -2.5 -2.4 2.1 2.7 2.4Japan -0.7 -5.2 -5.7 1.5 1.4 1.6Euroland 0.6 -3.9 -3.8 1.5 1.2 1.9UK 0.6 -4.6 -4.5 1.9 1.2 3.4Europe 0.8 -3.7 -3.6 1.7 1.3 2.3China 9 8.7 8.5 11.4 9.6 10India 6.7 6.6 6.1 8.2 7.6 8.7Brazil 5.1 0.5 -0.4 5.8 4.6 5Russia 5.6 -9 -7.7 4.5 3.5 5.5BRICs 7.6 5 4.7 9.2 7.6 8.6Advanced Economies
0.6 -3.1 -3.1 2.1 2.1 2.5
World 2.7 -0.8 -0.9 4.4 3.8 4.5* Consensus Economics November 2009 Source: GS Global ECS Research Jersey Funds Association Briefing | 22nd February 2011
2011 Business Plan Aims
• Grow our share of UK/European mature markets
• Capture upside opportunity in developing growth markets
• Develop and embed overseas representation
• Improve existing offering
• Develop new innovative offerings
Jersey Funds Association Briefing | 22nd February 2011
2011 Market
Development Plans
China2011 plans• More activity with local trade associations• Broaden focus
(1) from Hong Kong and increase focus on Shanghai/Beijing(2) from international professionals to local professionals
• Develop local media contacts and skills• Develop reputation in niche market specialties• Facilitate DTA with China• Provide feedback from local professionals to highlight
differences between Asia requirements and traditional practices2011 visits• April – Zhaoan Li and Jonathan White to accompany the Lord
Mayor of the City of London’s visit to China• June - business development
Jersey Funds Association Briefing | 22nd February 2011
GCC
2011 plans• Promote the benefits of Jersey’s products and services, in
particular Shari’a knowledge and capability• Initiate promotional activity in the wider GCC– Saudi
Arabia, Qatar, Kuwait• Offer guidance and training to the industry on legal
and regulatory treatment of Islamic structures• Regulatory/Governmental agreements2011 visit• March, office opening, British Embassy, Abu Dhabi
Jersey Funds Association Briefing | 22nd February 2011
India2011 plans• TIEA with India • Use new cross border merger legislation to promote tax
planning opportunities• Promote the benefits of Jersey’s
products and services• Defend against competitor activity in both India and the
Indian advisor community in the UK2011 visits• March, office opening, Mumbai• December , International Taxation Conference, Mumbai.
JFL will exhibit and host a speaker session
Jersey Funds Association Briefing | 22nd February 2011
Russia
2011 plans• Continue to promote the jurisdictional, technical and
commercial benefits of Jersey’s products and services through increased business development activity key gatekeepers, business organizations, professional advisors and intermediaries
• Continue to monitor developments on Russian Group listings on European exchanges
2011 visits• April, Adam Smith Wealth Management• Considering second visit - business development
Jersey Funds Association Briefing | 22nd February 2011
London – 1 2011 plans• Provide feedback on legislative, regulatory and any
comparative jurisdictional issues that have an impact on business being undertaken in Jersey
• Field ‘end client’ enquiries and encourage further business to come to Jersey
• Speak to ‘influencers’ to ensure they appreciate Jersey’s strengths and offerings
• Support the Inward Investment initiative• Leverage relationship with trade and other industry
bodies
Jersey Funds Association Briefing | 22nd February 2011
London – 2
Jersey Funds Association Briefing | 22nd February 2011
2011 visits• Focus on opportunties to raise Jersey’s profile and obtain
information on industry developments• Host a major London-based conference for Funds – 6 April
2011• Host business area specific meetings to increase
engagement between Jersey members and the professional community in London
• May - Hedge Fund Re-domiciliation for Managers & Funds• June – An Audience With … private client event
organised by Legal Week
2011 Technical Plans
Technical Plans 2011• 15+ pieces of legislation in the pipeline
• Extensive regulatory consultation
• Review of end-to-end processes to drive
innovation and product development
• Continued Member engagement
through working parties
• Project support for market development
strategy – new Representative Offices
Jersey Funds Association Briefing | 22nd February 2011
Growth and Innovation – Key Examples
• Cross Border Mergers (Regs 5) – India connection
• Trust Amendment No. 5
• AIFMD
Jersey Funds Association Briefing | 22nd February 2011
2011 Marketing Plans
Marketing Plans 2011 • Press strategy: shift to positive promotional focus, while
maintaining defensive watch
• Events and visits: market and business development focus
• Online: website development and new online tools
• Business development: Member toolkits
• Engagement: marketing working parties
• Membership development: affiliates and
international partnerships
• Education: new Schools Roadshow module
Jersey Funds Association Briefing | 22nd February 2011
2011 Events and Visits ProgrammeMaintain UK core: •London•Regions
International market development:•China/Hong Kong•GCC•India
European market development:•Russia Primary focus will be on developing
event quality, not quantity
Jersey Funds Association Briefing | 22nd February 2011
50 Years of Finance
A celebration of the success of 50 years of modern finance in Jersey
• Community engagement• Media partners• Financial Heritage Week – September• Schools roadshow module• Commemorative stamps• Touring photo exhibition• Jersey Heritage opportunities• Parish projects• Charity ball
Jersey Funds Association Briefing | 22nd February 2011
HSBC - 19 November 2010
Questions?