Guernsey drops out of the finance centre top 20
Monday 15th March 2010, 2:30PM GMT.
GUERNSEY is no longer among the world’s top 20 finance centres, a new report has found.
The island’s financial services sector has fallen to 22nd in the biannual Global Financial Centres report’s rankings, compiled by Z/Yen Group for the City of London.
In September’s edition, Guernsey placed 15th, just one spot behind Jersey, which has also fallen this time around, but only by four places to 18th.
Guernsey’s rating was hit to the tune of six rating points to stand at 632, while Jersey gained three to score 643.
In all, Jersey scored above Guernsey in nine of the 10 sub-indices used in the rankings, with Guernsey rating just ahead of its neighbour in the professional services sub-index.
GuernseyFinance chief executive Peter Niven (pictured) said the island’s performance was credible despite the fall.
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