This Is Guernsey

By Tom Edwards

Offshore Consultancy, left to right, John Richardson, Diana Kennedy and Will Morgan.

TWO friends have ditched their desk jobs in favour of running their own consultancy, training and recruitment business.
Will Morgan and John Richardson are the bosses behind Offshore Consultancy (Guernsey) Ltd.
They say that their contacts and industry experience allows them to offer an efficient service to a growing base of clients.
‘We started from zero and have built the business up to around 30 clients since August,’ said Mr Morgan.
‘It’s been non-stop since we started. We are at that juncture when we are considering taking someone else on, but we need a person who has the right skills and experience to hit the ground running.’
The pair met in 2001 at Ernst & Young where they became friends and qualified as chartered accountants.
Mr Morgan then joined a professional training company and Mr Richardson went to the UK to work as a project accountant, before returning to work as the manager of a large fund administration company.
They had always talked about starting a business together and in June Offshore Consultancy was founded and then incorporated in August.
‘The name came naturally as we both love the sea and all things nautical and with Guernsey being an offshore jurisdiction, it was ideal,’ said Mr Morgan.
‘Running your own business is so much better than working for someone else. If we work until 10 in the evening one day, we can then take the afternoon off the next.
‘It is extremely hard work, though, and we’re frequently talking to one another on the phone.’
Mr Richardson heads the consultancy side of the business, specialising in hedge fund administration procedures and outsourcing arrangements with a number of international players.
‘We recognise that many local companies and fund administrators are at capacity, completing their business as usual functions, and as a result have many projects and initiatives which are either not started or finished,’ he said.
‘This is where we can assist. Because of our relevant experience and knowledge, we can project manage initiatives and provide regular updates to management.
‘This allows the client to continue focusing on what they do best, which is running their business.’
Among the projects already serviced are the feasibility studies and subsequent set-up for a multinational aviation company, assisting with the setup of a Swiss hedge fund and due diligence visits to the UK, India, Canada and Dublin.
In January, Diana Kennedy came on board to assist with the recruitment side of the business and to give Mr Morgan more time to concentrate on the training element.
The team’s goal for the next 12 months is to expand while offering the same level of service to their growing client base.
‘We’re not out for making a fast buck and being accountants we both know we could get good salaries,’ said Mr Morgan.
‘We’re trying to assist the finance industry, as it’s key to everyone in Guernsey because the cash flows down to the whole of society.’