'Ganbei Guernsey' will mark first year in Hong Kong

16 August 2017

Delegates can learn how a Guernsey structure could suit their clients’ financial needs at an event celebrating one year of the island’s presence in Hong Kong.

‘Ganbei Guernsey’, which takes place at The Hong Kong Bankers Club on Thursday 14 September, is a Guernsey Finance-hosted event which will mark the opening of the promotional agency’s representative office in 2016.

Located at Three Pacific Place in Admiralty, the office is a base from which Guernsey Finance carries out further promotional activities concentrated on the wider South East Asian market. It is also utilised by the Guernsey Financial Services Commission to provide regulatory advice to those in the region who might be considering Guernsey-specific ventures.

Guernsey Finance Deputy Chief Executive Kate Clouston said Hong Kong was a key global financial hub and an important partner for Guernsey in facilitating international capital flows and a variety of wealth management services.

“Guernsey and Hong Kong are partners moving forward at a time when cooperation and transparency are paramount, and the experts from Guernsey’s extensive finance sector can supply much-needed advice about working within international rules and regulations,” said Miss Clouston.

The island has made many inroads into Hong Kong since the establishment of its office. In April, Guernsey’s civil aviation registry 2-REG granted an air operator certificate for 2-DEER – the world’s largest business jet – which allows its owner, Hongkong Jet, to offer it for commercial charter. The ultimate parent owner of Hongkong Jet is HNA Group - a Global Fortune 500 company and one of China’s most recognisable brands.

More recently, Heritage Financial Services Group has established a joint venture with Hong Kong-based Adept Capital Partners Services Limited which will allow Heritage to service both trust and corporate business and potential fund structures out of the region.

Guernsey Finance itself has staged two events in Hong Kong in the past year. The first was an insurance masterclass that examined the worldwide popularity of captive insurance structures and their expected rise in popularity in Asia, while the second focused on the global introduction of Common Reporting Standard (CRS) and how Guernsey, as one of the early adopters of CRS in 2014, is perfectly placed to share its expertise on the implementation of the international initiative.

In addition to marking the island’s progress since the office opening, ‘Ganbei Guernsey’ will also include a keynote speech from CitiTrust Chairman Stewart Aldcroft, who has had a long career working for traditional hedge, structured and alternative funds houses across Asia on business development and client relationships. He will be followed by a panel discussion on how Guernsey companies could help as part of a diversification strategy and create access to new markets and services.

The panel will be moderated by Michael Chugani - the host of TVB's 'Straight Talk', the most widely-watched English language weekly TV current affair talk show in Hong Kong. A columnist for both English and Chinese language publications, Mr Chugani has worked for many years as a journalist in Hong Kong, the USA and London. He was Editor-in-Chief of English-language 'Eastern Express' and headed the English news operation of Asia Television. Aside from 'Straight Talk' he also hosts a Radio Television Hong Kong radio show and writes for several newspapers including the South China Morning Post. He has published a number of books on current affairs, including the 'Double Talk' series.

The three panellists will present real-life case studies of how Guernsey provided a solution for their business or clients.

Mike Walsh of Asia Jet will discuss aircraft registration and corporate services, while Joseph Yeung of HLCG Film Guarantors will speak on captive insurance. Both were clients of Guernsey-based operations that found solutions for their businesses.

A representative of Nerine Fiduciaries, which has an office in Hong Kong, will offer the service-provider perspective and the various private wealth solutions Guernsey can provide for international clients.

“Guernsey’s offering, extending across investment funds, private wealth, banking and insurance, provides an attractive opportunity for diversification and long-term wealth management solutions for intermediaries based in Hong Kong,” added Miss Clouston.

To register for this free-to-attend event, please visit the event website. Anyone Guernsey-based who is interested in attending this event, please email Miss Clouston, who will be pleased to discuss travel and hotel arrangements with you - [email protected].

‘Ganbei Guernsey’ precedes an event in Shanghai on 21 September which will celebrate a decade of the island’s presence in China.