‘Investec 62 should find work’
Friday 30th April 2010, 2:20PM BST.

Deputy Charles Parkinson says the job losses at Inestec are not due to the recession. (0751371)
TREASURY minister Charles Parkinson is confident the island’s finance sector can absorb the job losses announced by Investec Trust.
The closure of the Guernsey office will result in all 62 staff losing their jobs over the coming 12 months.
Eleven members of staff have left already, but Deputy Parkinson was adamant that they would find similar work elsewhere in the finance industry.
‘I’m sure there will be jobs for them. They won’t all necessarily be in the fiduciary sector but the banking sector has been expanding quite fast recently so they should be able to find work if they are reasonably flexible.’
The job losses at Investec Trust have not affected its local asset management operation of Investec Bank, which will both continue to operate as normal from its offices at La Plaiderie.
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I am sure that their skills are transferable.
This is a good sign that Guernsey’s legislation for long term retention of a solid, co-operative finance industry is starting to work.
Well done those involved.
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Does this man live in the real world, I don’t think so (no comment). I worked in the Finance Industry and was made redundant in 2008, please let me know where the Finance Industry jobs are as I am still out of work and looking, by the way my redundancy was due to the recession…
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Mr Bee
Go to the Employment Agencies, or ring the numbers in the Guernsey Press. If you can do the work it’s there…
People may hate me for my views, but there really is no point in thinking that if you’re employable in that sector, having been employed in that sector,that it’s really so bad that there’s no jobs about.
Unless it’s part of the trickle down…
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Arnald
Not sure exactly what you mean but looks to me like you may have blown your cover about your mysterious “legal agreement”.
Mr Bee
There are quite a few vacancies in the finance industry. Was your job quite a senior or specialised one? The private banking/securities area is quiet but there are jobs in fiduciary and, to a lesser extent, fund administration for experienced people.
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The tip of the iceberg. I believe the oil spillage has bought tax havens a little comfort & extra time. The international pressure will be eased for a short while. Minds will be focused elsewhere. When changes are forced through many organisations will be faced with the same decisions as Investec.
Guernsey is an expensive place for businesses. It is not best suited due to its limitations & inconveniences. Many will look elsewhere.
States members need to be on the ball with how they are handling things in future. I don’t believe many can appreciate, or fully comprehend, the sensitivity of the many challenges in worldwide legislation.
Many simply look to those that feather their own nests first for the answers. Not good enough. Wasn’t for the many let down savers with Landsbanki & everybody else up the chain shirking responsibility & accountability.
This shows how incompetent & pathetically weak we really are when things go wrong. Leaders shrugging their shoulders & doing their best at remaining upbeat whilst clearly clueless & out of control.
I believe these people will have difficulty finding employment at the standards & pay scales they previously enjoyed. Many employers will be cautious about hiring in times of uncertainty.
More than ever we need people that have the islands best interests at heart. With the skills & expertise needed. Not figures that need advising by specialists every step of the way.
Many are saying the recession is over. I believe we have seen a little glimmer of positiveness with spending. The hard times will be felt soon enough.
Good. High time things started stabilising & actually costing what they are worth rather than what inflation prospectors feel they can get away with demanding.
I am one of the few that likes recession. It is a wonderful thing. Bring it on for all its worth. Reality is good.
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“Matt Le P”
You are are a conspiracy theorist.
‘Cover’?
Paul and Mr Bee
There are loads of jobs out there; jobs that are relevant for the future of Guernsey, compliance and etc. We need to be on top of the incoming regs before our competitors. That way this fictional nonsense we hear, “we’ll lose everything” issued from the media and the discredited big4 accountancy firms’ spin will be rendered useless, and Guernsey will truly punch above its weight.
“Matt Le P”
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“Arnald”/(“Paul”)
What on earth does that mean – “you are a conspiracy theorist”? Quite unnecessary. Get out of the wrong side of bed on Bank Holiday Monday did we?
I disagree with your “fictional nonsense” reference, because it simply isn’t “fictional nonsense” at all, but I do agree that Guernsey needs to keep up with the game and slightly ahead of it. Automatic exchange of information is now back on the imminent agenda, and I wouldn’t be at all surprised to see it come into force in 2011 at the same time as the Isle of Man. (Not sure whether Jersey will agree though). That move will give Guernsey the opportunity it needs to prove to you and your Uncle Richard that Guernsey is a lot cleaner than you both allege.
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I found this older article
http://www.thisisguernsey.com/2008/10/15/the-guernsey-experiment/
following info within ‘Money Masters 20/21′of 1996… (starting from 4:40)
http://www.youtube.com/watch?v=3tptKq2a3hw&feature=related
in meantime, the foreseen there great 2008-??? depression occurred…
and possibly, your historical experience really is the only proper remedium…
in any case I was astonished with the functionality of that experimental money system from the past of Bailiwick of Guernsey
I wonder if
“UK investment market review ‘will be [really] good for Guernsey’ (possibly as the UE was for Lýðveldið Ísland ?)
http://www.thisisguernsey.com/2010/04/29/uk-investment-market-review-will-be-good-for-guernsey/
Because it is not possible to comment that article of 2008, nor this of 29th April, 2010
I placed this reflection of mine herewith (under this still pretty appropriate one),
though.
“I’m sure there will be jobs for them. They won’t all necessarily be in the fiduciary sector but the banking sector has been expanding quite fast recently so they should be able to find work if they are reasonably flexible.’
The job losses at Investec Trust have not affected its local asset management operation of Investec Bank” – wrote Simon Tostevin.
My reflection is: during ‘Guernsey experiment’
there was no such a problem. It occurred together with occurrence here of the strong Bank sector based on loan (generated by 8% true reserve only).
I have rather personal question: Don’t you miss these wonderful years of your own finansial system?
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