BRAZIL and other South American countries should be prime targets for the Jersey finance industry in 2012 and beyond.

That was among the messages delivered by Jersey Finance chief executive Geoff Cook as he spoke at his organisation’s annual update to an audience of States Members and finance professionals at the Radisson Hotel.

The audience also heard that there are plans to open a new Jersey office in London.

Mr Cook, who was one of several speakers analysing recent performance and prospects, pointed out that the Jersey industry enjoys a reputation that is second to none. However, he added: ‘But having a good reputation does not necessarily put food on the table.’

It remained essential to seek new markets, push forward legislation and, above all, innovate, he added.

The audience was also addressed by Senator Sir Philip Bailhache, who has political responsibility for Jersey’s relations with the outside world.

He said that a ‘charm offensive’ was necessary, not only to keep the friends we have, but also to counter the many myths that circulate about our finance centre activities.