John Davey, chief executive of Spearpoint

A CHANNEL Islands investment firm set up a year ago this month says it has ‘enjoyed controlled and solid growth’, despite the global downturn.

Spearpoint, which has offices in Liberation House on the Esplanade, employs 41 staff across Jersey and Guernsey managing assets of over £750 million. Chief executive John Davey is forecasting a hard year ahead, although he is optimistic about Spearpoint’s ability to take advantage of the opportunities available in the market.

‘The last year has been a complete emotional rollercoaster but it has been a chance to make a lot of money,’ he said. ‘It has been a lot of hard work, quite stressful, there have been moments of shock – for example if you had said at any time in my working career that people would start worrying about some of the biggest banks I would never have believed it.’

‘But there have also been moments of extreme exhileration, when we have bought something and it has gone up a long way. To make money when the competition is losing money gives you a personal sense of satisfaction.’