New deal for the finance industry
Tuesday 2nd October 2012, 3:00PM BST.
MORE than £1 million of public money is to be ploughed into securing the future of Jersey’s finance industry in the post-credit crunch financial world, ministers have announced.
Treasury Minister Philip Ozouf has authorised the transfer of £990,000 from States reserves to Jersey Finance, which will use it to employ a team of consultants to carry out research into all aspects of the industry.
The information will then be used to underpin a new States strategy for the sector headed by a new director of financial services – Joe Moynihan, who is currently head of AIB Jersey – whose appointment was announced yesterday.
Announcing the measures, Treasury Minister Philip Ozouf said that it was an essential project to ensure the future economic prosperity of the Island – and therefore safeguard jobs and public services – and keep it at the forefront of the financial services industry.