Offshore Financial Services in Jersey — Aarkstore Enterprise

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Introduction

With money leaving offshore centers in the billions, understanding the nature of offshore clients and what strategies to employ to attract and retain them has become absolutely critical, not just for offshore bankers but also for their onshore competitors.

Scope

*This report draws on the findings of the Offshore Banks Survey 2010.

*This survey was conducted in February/March 2010 among banks in Jersey, Guernsey, the Isle of Man, Switzerland, Hong Kong and Singapore.

Highlights

Out of all offshore clients by assets under management, 69% are from Western Europe, and 57% of these are from the UK.

The most important reason that British offshore clients choose to bank in the islands is because they get a more personalized service compared with onshore banking.

The average offshore client has 37% of his holdings in cash and near-cash, and this is expected to fall to 32% in two years’ time.

Reasons to Purchase

*Understand the nature of offshore clients in Jersey.

*Gain insight into the future needs of offshore clients.

*Access strategies for success in the marketplace.

Table of Contents :

Overview 1
Catalyst 1
Summary 1
Methodology 1
Executive Summary 2
Many of the offshore clients of banks in the islands are British and enjoy the personalized service offered by these banks 2
Offshore clients are looking for fundamental offshore services from their banks 2
Jersey bankers need to focus on brand, image and reputation as well as advisory services 2
Table of Contents 3
Table of Figures 4
Table of Tables 5
Offshore Clients of Jersey, Guernsey and the IoM 6
A significant number of clients on the islands and Jersey are from Western Europe, especially the UK 6
The three island centers service a very Western European offshore clientele 6
Jersey focus: Jersey has a high concentration of Western European clients 6
Britons are very important to the island banks, but not uniformly important 7
Jersey focus: British offshore investors have more assets under management in Jersey than the other centers 8
Historic links with Hong Kong make this region particularly important to banks in the islands 9
Jersey focus: Indians are well represented among the Asian client segment 9
Offshore clients bank on the islands because they get a more personalized service than they would onshore 11
UK clients that put their money in the islands are attracted to the islands because they get a more personalized service 11
Jersey focus: Jersey clients find offshore banking convenient because they are ‘on the move’ 11
The average portfolio of an offshore client is very conservative in nature, and this is not expected to change much going forward 13
Cash and near-cash is the most important asset category in the portfolios of offshore clients of banks in the islands 13
Jersey focus: Jersey clients invest more in real estate than elsewhere 13
Offshore clients of banks in the islands are expected to make small adjustments to their portfolios going forward 14
Jersey focus: the portfolios of Jersey’s offshore clients are expected to change very little over the next two years 15
Offshore clients are not likely to move center or bank and have little appetite for risk 16
Offshore clients of banks on the islands are not prone to switching 16
Jersey focus: Jersey clients are value-conscious but loyal to their offshore bankers 16

For more information, please visit :
http://www.aarkstore.com/reports/Offshore-Financial-Services-in-Jersey-36615.html