Channel Islands named 'top offshore centres'

Jersey and Guernsey have been ranked as the best performing offshore finance centres for private wealth, it has been revealed.

According to the latest Global Financial Centres Index, Jersey was placed at number 23 in the overall rankings, with Guernsey at 27.

Both finished ahead of the Isle of Man at 35, the Cayman Islands at 38 and Malta at 59.

London was named as the number one financial centre, followed by New York, Hong Kong, Singapore and Shanghai.

Commenting on the figures, chief executive of Jersey Finance Geoff Cook said: "The report highlights how Jersey is regarded on the global stage as a market leading international finance centre and that it is recognised as one of the top ten centres to grow in significance over the next few years."

Mr Cook went on to suggest that the prevalence of Asian centres in the top five meant financial institutions in Jersey and Guernsey must focus their efforts on those markets to enjoy continued success.

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