Royal visits and political shakeups: reflections on a busy summer

Rupert Pleasant, Chief Executive of Guernsey Finance?

Average read time: 5 minutes?

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Guernsey Finance showcases island’s sustainable finance successes to HM King Charles III?

Meeting His Majesty King Charles III was an incredible privilege and a significant milestone for the island's financial services industry, and our sustainable finance journey.?

The King, along with representatives from the Sustainable Markets Initiative, learned about Guernsey’s role as a leading proponent and innovator in the field of sustainable finance and how the island has implemented environmental initiatives within its own infrastructure.?

At a meeting organised by Guernsey Finance, His Majesty met with the island’s financial services regulator to hear about the Guernsey Green Fund and Natural Capital Fund designations, both world firsts in sustainable finance. The King also discussed the provision of solar energy in the UK with representatives from NextEnergy Group, and the positive environmental impact created through investment into British Sustainable Infrastructure Strategies (BSIF) with representatives from Gresham House.???

It was the honour of a lifetime, and I am delighted to confirm that Guernsey Finance and the Sustainable Markets Initiative have agreed to further discuss ways in which Guernsey's financial services sector can participate in the variety of Sustainable Markets Initiative task forces. Watch this space.?

Tackling political uncertainty with stability?

With around 64 general elections taking place around the world this year, considerable global macroeconomic shifts are inevitable. Take, for example, the Labour Party’s win in the UK. Although Guernsey has an independent government and legislation, our close relationship with the UK means that professionals in Guernsey are actively monitoring the potential impacts on behalf of their clients.?????

Due to our political and constitutional independence, Guernsey continues to be seen as a stable and supportive jurisdiction. Guernsey’s financial services sector provides steady investment inflows into the UK according to a report by Frontier Economics released at the start of the year. The key figure is that Guernsey-based funds support significant investment into the UK economy, and currently channel ￡57 billion of international capital investment from around the world into the UK. The findings also show how Guernsey’s financial services expertise is aligned with several UK policy priorities such as the transition to net zero, infrastructure funding and investment across all four nations of the UK.??

Connect to prosper: The Lord Mayor of the City of London’s official visit to Guernsey?

Just a few weeks prior to the UK election, I welcomed The Rt Hon Lord Mayor of London Alderman Professor Michael Mainelli at Guernsey Airport on his first official visit to the island.?

It was a privilege to welcome the Lord Mayor and to have the opportunity to introduce him to key individuals from our own financial services sector. Professor Mainelli discussed Guernsey’s symbiotic relationship with the City of London, the transition to sustainable finance, innovative financing mechanisms, and more.??

This visit further cements the excellent relationship that Guernsey enjoys with The City of London as Guernsey generates significant value for the United Kingdom economy and is a proud member of the British family.?

Growth for Guernsey Finance??

I am delighted to confirm two new additions to the Guernsey Finance team – Rowan Stone, who joins us as the agency’s first business development representative for the north of England, and Joanne Peacegood, an independent Non-Executive Director who joins our board of directors with more than 20 years’ experience in the investment management industry.??

Rowan’s experience will help strengthen our connection with the north of England, which is a growing focus for us as business continues to grow in this region. More than two thirds of the UK’s financial services industry is housed outside of the City of London and Guernsey's expertise as an international finance centre across the full range of specialisms, generates significant value to the UK across all regions. We hope this partnership will continue to grow as we strengthen our connections through Rowan’s appointment.??

Joanne's appointment will add to the depth of knowledge and cultural values within the team, and I am confident that her strong technical experience will prove vital in shaping our strategy as we continue to navigate the sector’s evolving trends and challenges.?

Taking gold?

At the end of June, I travelled to London to attend The WealthBriefing Wealth for Good Awards 2024, which recognise innovation and excellence in sustainable finance and philanthropic endeavours. I am proud to say that Guernsey Finance won the ‘International Finance Centre – Communication Strategy or Thought Leadership (Europe)’ category.??

What is coming up??

As you can see, our summer has been exceedingly busy, and the second half of the year shows no sign of abating. In September, I will be heading to Monte Carlo for Guernsey’s Champagne Reception at the exquisite Hotel Hermitage.??

The reception takes place in the same week as the 66th Les Rendez-Vous de Septembre, when representatives from the global reinsurance market meet to hold bilateral discussions ahead of the renewal of insurance treaties.?

I am also pleased to be attending the UK’s political party conferences later in the year to demonstrate Guernsey’s evolving and symbiotic relationship with the UK.??

Then in October, our annual Private Wealth Forum will explore approaches to the great generational wealth transition, including succession planning, the benefits and drawbacks of family constitutions, managing complex family relationships, and Guernsey’s experience with these evolving trends.?

In November, we will close the year with our very first Sustainable Finance Seminar in London, bringing together experts for discussions on how the financial services sector can mitigate the effects and risks of climate change.??

And finally?

Guernsey has recently been shortlisted for Citywealth’s IFC of the Year Award for 2025, which highlights the excellence of the private wealth sector in major international financial centres.??

Guernsey last won this award in 2023, and it would be great to bring it back to the island once again. You can cast your vote for Guernsey here.?

I very much hope to see you at one of our events soon. We are also keen to hear from you, so if you have a question or a comment, please add it in the comments box below.?

With best wishes, Rupert.?