Take out the risk and you lose the rewards

Monday 19th July 2010, 2:30PM BST.

IOD lunch speaker Julian Winser GUERNSEY businesses must not be stopped from risk-taking if the economy is to prosper, according to Schroders Private Banking chief executive Julian Winser.

Speaking at this month’s Institute of Directors business lunch at Moore’s Hotel, Mr Winser (pictured), who is also Guernsey Chamber of Commerce president, warned against imposing too much of a regulatory burden on the local economy.

‘If we compare where the Guernsey finance industry is to the product life-cycle then we are in the latter part of the maturity phase, when we are still growing but at a much reduced rate from a few years ago.

‘But the competition has caught up and the costs of operation in a fully-employed mature economy are still rising.’