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Guernsey Welcomes Latest Financial Center Rankings

by Jason Gorringe, Lowtax.net, London
20 October, 2014

Guernsey has taken third place in this year's global rankings of specialist financial centers issued by trade publication The Banker.

Guernsey was once again ranked third behind the Cayman Islands and Jersey, however the figures this year show that Guernsey is closing on its competition, said Fiona Le Poidevin, the Chief Executive of Guernsey Finance.

"It is very pleasing to note that we have seen the biggest increase in score of any of the top four jurisdictions, and have therefore solidified our position within the top three specialist finance centers globally," she said.

"Guernsey's finance industry is performing strongly across a number of sectors so these rankings go some way towards reflecting what we are hearing anecdotally in the marketplace. As is the case with many ranking surveys you have to be careful not to read too much into them. They are not a definitive guide to the health of each financial services industry because of their varying methodologies, but the scores compiled by The Banker are based on economic and financial data supplied by Governments, regulators and stock exchanges in each of the jurisdictions and are therefore very informative."

Behind the Cayman Islands, Jersey, and Guernsey, was The Bahamas in fourth, Bermuda in fifth, Mauritius in sixth, and the Isle of Man in seventh place.

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