New York visit is starting to bring its rewards
Friday 13th February 2009, 2:30PM GMT.
NEW YORK has shown significant interest in using Guernsey as a future European private equity fund domicile.
Members of Guernsey’s private equity fund industry visited the city last month as part of a trip coordinated by GuernseyFinance, which was exhibiting at the Private Equity International CFOs & COOs Forum at The Roosevelt Hotel.
The team from Guernsey included Joe Truelove, head of business development at Kleinwort Benson, Christopher Anderson, partner at law firm Bedell Cristin, and John Clacy, partner at Deloitte.
As well as attending the forum, the team also met a large number of existing and new contacts in the city and spoke to journalists from some of the leading specialist private equity publications on the US east coast.
Mr Anderson (pictured) said the present economic slowdown had, in a way, aided the trip.
‘Being on the ground in New York reinforced our impression that market conditions mean there is less new business coming on-stream at the moment and this is likely to be the case for much of 2009.
‘The benefit for us is that the partners of law and accountancy firms have more time available to meet and listen to what we have to say about Guernsey.
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Well done fellas !
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Yes, but how does this fit in with Mr Obama’s view on “tax havens”? Will these New York prospects be allowed to place business in Guernsey?
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Because Private Equity has done wonders for society, yeah?
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The article seems more of an unpaid for advertisement, trying to justify the existence of Guernsey Finance and the amount of taxpayer money that it consumes each year.Reads a bit like a Press Release!!!
Frank. Your question is appropriate. Problem is that Guernsey seems to be ignoring the parts of the Stop the Tax Havens proposals, it doesn’t like or would like to gloss over.
The exchange of information doesn’t remove the tag tax haven. There is a fair bit more to worry Guernsey than just that.
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Has anyone else wondered why Charles Parkinson has not made apearances before the Commons Committee on the banking crisis, nor at the dinner in the City featured in today’s Press.
It seems odd that someone with the financial gravitas of Deputy Parkinson is not being used to the full.
It just seems to me that Guernsey would have benefitted if Charles Parkinson’s depth of financial knowledge had been ulilised.
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