TOP TIPS FOR STARTING YOUR OWN BUSINESS Words by Rachel Matthews
THE BIG INTERVIEW Claire Boscq-Scott, AKA, The Busy Queen Bee talks to Keith Beecham, CEO of Visit Jersey
The Journal ISSUE ONE
BUSINESS • FINANCE • LAW • RECRUITMENT
ECONOMIC BOOST TO EAST OF TOWN Business
ZEDRA Jersey has moved its 140 strong team to new offices in La Colomberie. The move consolidates their two original offices into a larger, modern environment that will allow for further team expansion. The move has been enthusiastically received by other local businesses who have seen a number of companies leave the area over recent years. The arrival of a major company such as ZEDRA, is proving a boost to the east of town business economy. Ashley Cox, Managing Director, ZEDRA Jersey, says: ‘Our search for a new home began last year and we are thrilled to now be in our new building and have our team together under one roof. It’s plain to see that the new offices and facilities have proved a great boost to morale and the team are clearly very proud of our new home. It’s been a positive decision to move to the east of town where there is a thriving business community and
we are pleased to be able to invest in an area of St Helier where we can make a difference.’ Colomberie business, The Taste cafe was due to move out of the area but ZEDRA’s arrival has now improved trade. Owner of The Taste, Emanuel de Jesus, says: ‘The Taste has been operating in Colomberie for the past seven years. In that time, business has been up and down as companies have moved in and out of the area, mainly to the Esplanade. The arrival of ZEDRA to Colomberie has been really encouraging and hopefully others will follow, giving a boost to all local businesses. The increased footfall is helping our business and will also help to regenerate the area.’ Wayne Olwage, Managing Director, Carrefour Metro Gym, has launched a corporate membership for ZEDRA. He says: ‘We are a business that is heavily reliant on footfall. Carrefour Metro Gym has witnessed a great amount of recent investment to the east end of town. Continued on page 4
SURVEY FINDS BOARDS LOCAL TECH COMPANY ARE NEGLECTING GDPR SIGNS GLOBAL DEAL Digital Jersey is delighted COMPLIANCE to confirm that a According to a new survey from cloud solution provider Calligo, 69 per cent of board-level executives are neglecting to ensure the UK businesses they run will comply with the General Data Protection Regulation (GDPR). Full story on page 2
Digital Jersey member and local technology provider, Total Solutions Group, has established a partnership with JPD Financial. Full story on page 4
BUSINESS LUNCHES
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CORPORATE CHRISTMAS PARTIES
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Please call 766014 to reserve a table!
SOLUTION DEVELOPED VOISIN LAW NAMED TO SUPPORT FINANCIAL IN THE CITYWEALTH CRIME FIGHT LEADERS LIST A solution that allows finance firms in Jersey to automatically transfer over 300,000 Beneficial Ownership records at a time, directly into the regulators’ system, is a significant development in the growing world of regulatory technology, or ‘RegTech’. Full story on page 6
Staff at Voisin Law have been recognised in the Citywealth Leaders list after receiving recommendations from their industry peers. Full story on page 7
Do you want to be involved? Do you have a story you would like to share? Contact Mark on 07829 838844 or email contact@jerseypages.info
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THE JOURNAL NEWS
OCORIAN TO ACQUIRE FUNDS AND CORPORATE SERVICES BUSINESS MAS INTERNATIONAL Business
Ocorian, announced today that it has entered into a definitive agreement to purchase MAS International (“MAS”), an independent fund administration and corporate services provider. The business operates in Luxembourg and Mauritius in addition to representation in the US. The transaction is subject to regulatory approvals. Expected to close towards the end of 2017, the transaction will realise the
next stage of the progressive trajectory for Ocorian, following the management buyout and successive rebranding of Bedell Trust in 2016. The acquisition expands Ocorian's international presence and service capabilities, providing further depth for their existing jurisdictions. All staff from MAS's administration and corporate services business will join the combined operation to support and grow the client relationships that are at the core of this acquisition. The two French entities are excluded from
this transaction and will continue to operate independently. Terms of the agreement are not being disclosed.
Commenting on the acquisition Nick Cawley, CEO of Ocorian stated: “This transaction reflects the sustained growth and diversification of Ocorian's newly defined business. It will further strengthen our position as a leading global provider of fund administration and corporate services complementing our real estate and private client services. The acquisition is consistent with Ocorian’s ongoing evolution and commitment to continued international growth in leading jurisdictions. By bringing the two businesses together Ocorian's fund administration and corporate services offering will now be strengthened to help build our high quality and sustainable business." Stewart Kam-Cheong, Partner at MAS International said: "Our ambition for this transaction was to find a partner that would leverage our existing platform and accelerate the development of our fund administration and corporate services businesses, whilst broadening the scope for both ourselves and our clients. Becoming part of a larger group alongside Ocorian will facilitate growth
opportunities and make the most out of the MAS expertise."
Olivier Dorier, Partner at MAS International concluded: “We are excited about this opportunity to join forces with Ocorian. The powerful combination built on highly regarded reputations provides tremendous opportunities for our clients and staff. The MAS team will continue to work closely with Ocorian to ensure a seamless integration. Both the combined MAS and Ocorian teams
are committed to providing the same high level of quality services our clients have come to expect.”
Ocorian is an independent and award winning global �inancial services business providing outsourced administration, �iduciary and accounting services. Over its 45 year history it has built an enviable reputation for consistently meeting its clients’ needs and objectives. Ocorian is backed and funded by In�lexion, a midmarket private equity �irm.
Calligo survey finds boards are neglecting GDPR compliance Business
According to a new survey from cloud solution provider Calligo, 69 per cent of board-level executives are neglecting to ensure the UK businesses they run will comply with the General Data Protection Regulation (GDPR). The figures were in a survey of 500 IT decision-makers in companies with more than 100 employees and in excess of £15 million turnover, examining how businesses are preparing for the new regulation. Only 31 per cent of respondents said they had governance sponsorship for GDPR at board level, while just
nine per cent said their compliance departments were giving them full support. This lack of interest at the top level comes despite 62 per cent of respondents agreeing that the new regulation would affect the profitability of their business, including 19 per cent who said the impact would be negative. “It is worrying to see signs that GDPR governance does not have the full attention of so many C-level executives,” said Julian Box, CEO, at Calligo. “Too many of those at the top think it is all about security, when that is only a part of it. “The deadline for compliance is
May 25 next year and any company that subsequently fails to handle data in the correct manner risks the severe penalties stipulated in the regulation. The top people in every organisation need to get to grips with this challenge, ensuring that their data is being stored and handled in full compliance.” The survey found that only 43 per cent of companies have appointed and resourced a Data Protection Officer, despite this being a requirement of the GDPR formediumsized and larger businesses. In IT and telecoms, the figure is just 37 per cent, while in manufacturing and utilities it is just 36%.
THE JOURNAL NEWS
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MULTI-SERVICE TRANSLATION BUSINESS IN THEIR SECOND YEAR OF OPERATIONS Business
Tongue Tied Ltd have now completed nearly 2 years in Jersey and have over 25 local companies as clients and service their 500 worldwide clients and oversee their 4000 in-country translators, interpreters, typesetters and provide overall management of the online, print and conference business, from their offices in Jersey. Director, John Shouler said; “Tongue Tied are more than a translation agency, we are a ‘single source supply’ of translators, interpreters and conference equipment, in all languages and in all formats. We can also arrange worldwide event management. We very much look forward to welcoming new clients in Jersey and continuing to provide a high level of service to our existing client base across the financial and commercial sectors.” Tongue Tied have been in operation since 1989 from two offices in the UK. The business offers typesetting into every known software platform, digital and traditional printed translations, face to face and telephone interpreting and provide conference equipment for
anywhere from 20 to 500 delegates. As well as working for a number of high profile global businesses, the company were the official translation partner for the London 2012 Olympics bid in 2005, including translating the bid documentation into the languages required for the International Olympic Committee. They then wrote their French website and worked with them for seven years until the conclusion of the games.
Mr Shouler continued; “We enjoy living and working in Jersey, creating local jobs, becoming a part of Island life and contributing to the local community, charities and sports associations. I must add that the move would not have been possible without the continued professional support of the staff at Locate Jersey who helped us with the process of relocating Tongue Tied’s Head Office to the Island.”
The support team in Hove UK, that work with project leaders in Jersey
L-R: Tina, John, Cindy and Fabio, the Jersey team
A single source solution for translation, typesetting and conference services ‘We translated into Chinese on behalf of the States of Jersey which assisted them in obtaining the contacts for Jersey milk to be sold in China.” We translate, typeset and print every language: websites, manuals, software, patents, claims, books, prints, etc. Jersey based Tongue Tied can translate, typeset and print websites, manuals, software, patents, claims, books, print and plenty more in every language. Launched in the UK in 1989, Tongue Tied moved its headquarters to the Island two years ago where it has expanded from
simple translation and typesetting to offering complete conference facilities. This includes providing interpreters, sound boots and roving microphones anywhere in the world. We can also arrange worldwide event management. The company, which has developed franchise businesses in the UK and the US, also owns 50% of UK technical translator, Tech Trans. From its home
in Jersey, it is partnering with island based international businesses looking for a wide range of translation services around the world, including complex websites. Tongue Tied’s three USP’s - Price, Quality and Delivery translates into 92% client retention.
Tongue Tied (Jersey) Ltd | T: 01534 735505 | E: sales@tongue-tied.je | www.tongue-tied.je
THE JOURNAL NEWS
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LOCAL TECH COMPANY SIGNS GLOBAL DEAL Business
Digital Jersey is delighted to confirm that a Digital Jersey member and local technology provider, Total Solutions Group (TSGi), has established a partnership with JPD Financial (JPD). Silicon Valley-based JPD Financial is an outsourcing firm helping many of the world’s largest companies to better manage their accounts payable processes and cash. Jersey-based TSG will now work with them to further deploy their software and services, in order to enhance and broaden JPD’s disbursement audit services for their clients. This new partnership will unite powerful analytical technologies in order to enhance and streamline the process of a disbursement audit, which means that errors like duplicate payments and missed sales tax will be highlighted much more quickly, providing speedier services and reduced costs.
Associate director at Hawksford Recruitment
Hawksford have appointed Wendy Inns as an associate director, with 30 years’ financial services experience, including 20 years in management across wealth planning and trust administration. Reporting to the global head of Private Client, Wendy will be responsible for managing a team of client administrators and acting as a key contact for clients, which include multinational UHNW entrepreneurs and international UHNW families. Wendy, who was named an IFC Powerwoman by Citywealth in 2015 and 2016, has worked previously for Hawksford, between 2012 and 2014. She rejoins from Minerva Trust, where she worked for two years as an associate director in Private Wealth with responsibility as practice manager. She has held prior positions at various financial services institutions, including HSBC Private Bank where she was responsible for the Middle East team.
Tony Moretta, CEO of Digital Jersey, commented: “We are incredibly proud that a local firm like TSG has formed such a significant partnership. This deal really serves to highlight the worldclass quality of the work being done by technology companies in Jersey at the moment. This also demonstrates that much like our finance industry, the digital industry in Jersey is capable of providing unique services of a global level, despite our small geographic size. We would like to wish TSG and JPD Financial every success in their new endeavour.” Danny Bannister, CEO of TSG, added: "JPD Financial are recognised leaders in vendor credit recovery, and our software and services are quite complementary to one another. Clients who engage with us are able to access these services via a single point of contact whilst taking advantage of best of breed market solutions. We are looking forward to working with JPD to ensure that their clients receive the best services possible.”
L-R: John Woodhouse, Co-Founder of Total Solutions Group Alexa Bradley, Vice President of Business Development & Marketing, JPD financial Nick Hunt, Vice President & Managing Director, EMEA
Jersey Finance issue strategic review update Finance
In 2013, Jersey Finance commissioned a strategic review of Jersey’s finance industry which set out a blueprint for the future of the island’s financial services industry. At the time, a total of 21 initiatives across Jersey Finance, Government and the JFSC were identified, which are still very much at the heart of the strategy and much progress has been made in delivering these. However, in light of the triggering of Brexit and other significant changes and developments within the finance industry particular in the digital arena, it was felt that a review and update of the strategy was much needed. Work on the project commenced in May and since then Jersey Finance have held a number of workshops and conducted circa 50 interviews with representatives from the finance industry, government and the regulator for the two main workstreams of the project:
Workstream A has been focused on potential outcomes of Brexit, where Jersey Finance have been able to assess the Brexit landscape, analyse possible scenarios and the impact on Jersey, with a core focus on the financial services sector. Workstream B has been focused on digital development where Jersey Finance have been able to assess the status of digital development in Jersey’s finance industry. They have created, analysed and refined a long list of potential initiatives which will now be scoped out further in phase two of the project. The work on phase one of the project has now been concluded and Jersey Finance will reconvene for phase 2 in September. The period between the two phases of the project will allow them to continue to monitor the political landscape over the summer as conversations between the EU and the UK progress and further assess and scope the digital initiatives identified.
Economic boost to east of town Continued from page 1 To name a few: ZEDRA, R Fresh, and the C o - O p e ra t ive , which have all played a part in the development of the area. We have also witnessed development towards the residential area, which in-turn will feed all these new service industries, including the corporate entities.’ The ZEDRA team are spread over four floors at 50 La Colomberie. The expansive floor space has been well received by staff, providing a large, bright and comfortable working environment, staff rooms on every floor and modern wet room and changing facilities to encourage staff to walk or cycle to work. There is also a dedicated client suite and reception area which has created an additional re-ceptionist position. In line with their sustainability programme, ZEDRA has purchased the existing, high quality furniture with the building. Considerable thought has also gone into looking after the wellbeing of the ZEDRA team, including facilities such as a parent/baby nursing room with views of the sea.
L-R: Luke Philpott, Melanie McEnery, Hannah Le Claire, Peter Neuschaffer
APPOINTMENTS FOR ESTERA Recruitment
Estera has strengthened its Jersey team with several appointments. Melanie McEnery, who has worked for Estera since 2006, has been promoted from Client Director to Executive Director. Her principal focus is the management of the Jersey office along with global operational projects; she also provides director services to client structures across services lines within the Jersey office. In addition, Hannah Le Claire and Luke Philpott have been appointed as Administrators and Peter Neuschaffer
has been promoted to Senior Manager of Data Management and IT Solutions. These changes, coupled with several other promotions, underline the firm’s commitment to employee development and the provision of excellent service to clients. Farah Ballands, Chief Executive Officer of Estera, said: ‘These promotions recognise the expertise and dedication of these individuals across the group. I’d like to offer my personal congratulations, they have worked extremely hard and we are pleased to be able to reward them in this way.’
THE JOURNAL NEWS
CHANNEL ISLANDS AT ‘TURNING POINT’ FOR DATA PROTECTION Business
The States of Jersey and Guernsey are being urged to ensure sufficient resources are allocated to meet the challenges and opportunities of data protection. Emma Martins, who is the independent data protection regulator in Jersey and Guernsey, says the Channel Islands are at a ‘turning point’ for data protection – and that this increasingly complex area requires appropriate levels of investment. Ensuring the islands work together is essential to reap the economic benefits of data protection, according to Martins who is the Information Commissioner for Jersey and the Data Protection Commissioner for Guernsey. Her comments come as her Office publishes its latest annual report, which highlights how a growing workload is putting pressure on resources. Martins’ team is helping lead the implementation of a major new data protection law, to reflect the requirements of the European General Data Protection Regulation, which is applicable from May 2018. They are dealing with a rise in the number and complexity of complaints relating to data protection, while continuing a public information campaign to inform individuals and organisations of their rights and
responsibilities. Work is also underway to strengthen the data protection regulator’s independence from government, including IT systems and greater use of external lawyers. "We are at a turning point for data protection with it taking on a truly global significance. If the Channel Islands want to be considered as an attractive, well-regulated jurisdiction in this new data-driven world, we need a clear vision and roadmap to take us forward," said Martins in her foreword to her Office’s annual report. "I am extremely proud to head up teams across the Channel Islands who first and foremost see themselves as a unified office working in often challenging and high pressured circumstances. With an increasing and an increasingly complex workload it is clear that major reform is now required if we are going to be fit for purpose in the GDPR era.” The annual report shows that 52 data protection-related complaints were recorded in Jersey in 2016, up from 43 in 2015. There was a small increase in complaints in Guernsey to 42 over the same period – with two formal undertakings issued in relation to Guernsey complaints in 2016. However, much of the workload relates to general enquiries together with a rise in more resource-intensive cases with complex interlinked issues.
Vantage Wealth makes two new appointments Recruitment
The expansion of the Vantage group continues with the appointment of two experienced financial advisors to strengthen the offering of Vantage Wealth, the group’s financial advisory business. Vince Roberts and Matthew Munns, both professionally qualified investment advisors, have joined as Wealth Managers and will be providing holistic financial advice to Vantage clients drawing upon their years of experience in this field. Born in Hampshire, Vince initially worked for Prudential and then United Friendly Assurance before moving to Jersey and providing independent financial advice.
Matthew, who was born and educated in Jersey, initially worked in the banking sector for Coutts and Standard Chartered Private Bank. He then moved into a financial advisory role providing a comprehensive wealth management service to local clients.
Richard Packman, CEO, Vantage group commented: “I am delighted that these experienced professionals have chosen to join Vantage. They bring a wealth of experience and knowledge in their areas of expertise and share our commitment to delivering a first class professional service. Their recruitment forms part of our ongoing organic growth strategy for Vantage Wealth.”
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Potential new tenants for the Jersey International Finance Centre Business
There could be new tenants for the Jersey International Finance Centre very soon. Interested parties could be in court within the next few weeks, according to Nicola Palios. Jersey Development Company chairman Nicola Palios said that about a dozen firms are now interested in letting space, including businesses from outside the Island. She added that a 2008 report, which indicated that the development would make a £50 million loss, was now ‘a bit irrelevant’, despite concerns being raised about it by a Scrutiny panel last week. So far three companies – Sanne, UBS and BNP – have taken space within the JIFC. The first building, which UBS and BNP agreed to move into, was completed earlier this year, while Sanne have agreed to move into the second building, which is currently under construction. Mrs Palios said that it was likely that further deals would be finalised with new tenants within weeks. ‘We have got a whole pipeline of new tenants lined up, some of whom you should see coming to court literally in a week or two. ‘With others we are at a slightly earlier stage of negotiation, but we expect to be at 70 to 75 per cent of Building One let within the next month. ‘And on Building Two we are currently talking to a tenant who would take it up to almost 100 per cent let before we have finished construction,’ she said. The JDC was currently in discussion with about 12 prospective tenants, some of which were ‘smaller’ firms from outside Jersey,’ she added.
Do you want to be involved? Do you have a story you would like to share? Contact Mark on 07829 838844 or email contact@jerseypages.info
THE JOURNAL NEWS
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SOLUTION DEVELOPED TO SUPPORT FIGHT AGAINST FINANCIAL CRIME Finance
A solution that allows finance firms in Jersey to automatically transfer over 300,000 Beneficial Ownership records at a time, directly into the regulators’ system, is a significant development in the growing world of regulatory technology, or ‘RegTech’. This new tool is designed to improve the speed and quality of data being provided to the regulator, assisting in the fight against money laundering and global tax evasion. Digital Jersey, (the body responsible for developing & promoting Jersey as a digital jurisdiction), and the Jersey Financial Services Commission (JFSC), (responsible for the regulation, supervision and development of the Island’s financial services industry), worked collaboratively to bring together Jersey’s digital and finance communities in order to deliver this
Operations Manager at Alex Picot Trust Recruitment
Jersey trust company, Alex Picot Trust, has appointed Solange Rebours to the new role of Operations Manager. An experienced trust professional, Solange joined Alex Picot Trust in 2002 and now holds the dual role of Operations Manager and Senior Trust Officer. She will continue to manage a team of trust and company administrators, while providing direct support to the directors in the day-to-day management of the business. Her increased responsibilities include: management information reporting; process improvement; organisation of workflows; internal communications and human resources; and the production of operating and compliance reports. She will also lead projects such as preparing for General Data Protection Regulation next year.
innovative project. The solution will help financial services businesses to comply with new requirements under the Jersey Government’s new Beneficial Ownership policy, reducing the time and costs associated with submitting Beneficial Ownership information manually. The Beneficial Ownership policy improves transparency by requiring financial services companies to submit to the regulator accurate and up to date information on individuals that own more than 25% of a company, the ‘Beneficial Owners.’ The information is then validated by regulated professionals before it is sent on to law enforcement and tax authorities, creating an extra layer of protection that ensures corporate vehicles are not used for illicit purposes. Jersey is one of just a few jurisdictions with a central registry for Beneficial Ownership information, building on the Island’s reputation
as a world leader in the global fight against tax evasion, money laundering and terrorist financing. The JFSC created an Application Programming Interface (API), allowing d i g i t a l solutions to integrate with the J F S C ’ s system. T h i s provides a gateway for technology businesses to create RegTech solutions that allows finance firms to automatically transfer up to date Beneficial Ownership information. Meanwhile,
representatives of Jersey’s digital sector including C5 Alliance, Microgen, InfrasoftTech, XRM Architects, Fusion Systems, ViewPoint Software for Business, and Phoenix worked alongside local finance firms to enable them to use the new API. So far over 100 businesses opted to connect through the portal, which provides them with the tools to automatically transfer over 300,000 Beneficial Ownership records at a time.
Finance Bill to be published in Autumn Business
The UK Government has confirmed that the previously delayed Finance Bill will be published in Autumn 2017, as soon as possible after the summer recess. It has also been confirmed that the Finance Bill will legislate for all policies that were included in the pre-election Finance Bill, and that all policies originally announced to start from April 2017 will be effective from that date. These include provisions around: corporate interest restrictions; anti-hybrid rules; the new non-dom regime; inheritance tax on overseas property; and employment income provided through third parties.
JERSEY FINANCE HAS APPOINTED FUNDS DIRECTOR Recruitment
Jersey Finance has appointed Tom Powell as Business Development Director for Funds. Tom, who is based in Jersey, will be focussed on promoting Jersey’s funds sector. With the total net asset value of funds under administration in Jersey standing at its highest ever*, the sector is thriving and offers an attractive proposition to both investors and managers. Tom will be emphasising Jersey’s proactive environment for managers seeking to market into both mainland Europe and to the UK post-Brexit, through national private placement regimes, while offering flexibility to access markets beyond Europe. Prior to starting his new role, he was Head of Sales and Investor Relations at Altis Partners with input on the investment committee, and brings 16 years of accumulated trading, sales and asset raising experience in the funds sector. Tom has a BA hons in Business in Europe and studied a Maitrise in Commerce Internationale
Walking the tightrope Business
at the Université Blaise Pascale, Clermont Ferrand. He is fluent in French and Italian. Geoff Cook, CEO, Jersey Finance, said: “Having Tom on board with Jersey Finance will be a huge benefit to the business development team. As the funds sector in Jersey goes from strength to strength, Tom’s knowledge and expertise in the area, particularly that of exchange traded derivatives, will ensure that both Jersey Finance and the funds sector retain that positive momentum.”
At a Breakfast Briefing Event last month, entitled ‘Walking The Tightrope’, Baker and Partners provided guidance on current regulatory ‘Hot Topics’ to Jersey’s compliance industry. The panel discussion, facilitated by Director of Regulatory and Compliance, Tim Smith, Advocate William Redgrave and Advocate Simon Thomas, discussed several important areas of focus for finance industry professionals with particular emphasis on effective Suspicious Activity Reporting (SARs) and Sanctions issues.
Director of Regulatory and Compliance at Baker & Partners Tim Smith commented: “Even with the best practice and intentions, it can sometimes be difficult for individuals and businesses to truly understand their legal obligations and the consequences of not complying with regulation. It is incredibly important that regulated organisations understand not only how to prevent compliance breaches, but exactly how to respond when things go wrong. The cost of ever-increasing regulation and fines can be proactively avoided by implementing effective processes and procedures and embedding a proactive and compliant culture.”
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SHORTLISTED NOMINEES
ANNOUNCED FOR ICSA JERSEY AWARDS 2017 Business
Judging has taken place for the ICSA Jersey Awards 2017 and the shortlisted nominees selected. Competing for seven Awards, a record number of 44 entries from individuals and teams were received. The Jersey branch Council of ICSA: The Governance Institute is delighted to announce that the shortlisted organisations are: 1. Aqua Group 2. BNP Paribas Securities Services 3. Capita Asset Services 4. Computershare 5. Crestbridge 6. Estera 7. First Names 8. Intertrust 9. JTC Group 10. Mourant Ozannes 11. Ocorian 12. PraxisIFM Trust 13. RBC 14. Sanne Group
The Awards were judged by a panel of industry experts and comprise: • Company Secretarial Officer of the Year • Corporate Services Team of the Year • Administrator of the Year • Administration Team of the Year • Governance Award • Risk and Compliance Award • The One To Watch
The names of the winners will be announced at the ICSA Jersey Annual Dinner, Awards & Graduation Ceremony at the Hotel de France on Friday 29th September 2017, for which most of the tables have already been booked for this sell-out event. The winner of the Student Excellence Award, based on ICSA examination performance in 2016/17 will also be announced, and the celebrations will include recognition of the local and national prize winners who have excelled in their ICSA examination papers over the last year, together with recently qualifying Jersey-based
ICSA Graduates, and new Associates and Fellows of the Institute. ICSA Jersey Chairman, Robert Le Corre commented: “We were delighted with the increased number of entries received this year; the ICSA Jersey Awards continue to go from strength to strength and the professionalism and technical excellence demonstrated by all of the participating organisations, teams and individuals is outstanding. On behalf of the Judges and the ICSA Jersey Council, I would like to congratulate all of the nominees. “We’re looking forward to recognising the professional achievements of our members and the valued impact they have in Jersey’s industry, whilst also celebrating the commitment, knowledge and efforts of the ICSA Jersey graduates in the presence of their employers, family and friends. Thanks to the generosity of our sponsors, BPP Professional Education, Brainloop, and Perivan, we are very pleased to be able to continue to hold this popular event locally in Jersey.”
L-R: Nigel Pearmain, Jeffrey Giovannoni, Ian Strang, Clare Nicolle and Daniel Walker
Voisin Law named in
Citywealth Leaders list Business
Five senior staff at Voisin Law have been recognised in the 2017 Citywealth Leaders list after receiving recommendations from their industry peers. Now in its eleventh year, the prestigious independently endorsed list of leading figures collates the input of a large number of professionals within the private
wealth and private client sector as well as their clients. The 2017 list includes Voisin’s Managing Partner Ian Strang and Partner Nigel Pearmain, who have both been previously named as Prominent Figures in the Leading Lawyers category. Partner Jeffrey Giovannoni, Jersey solicitor Daniel Walker and Advocate Clare Nicolle are also cited on this year’s Leading Lawyers’ List.
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THE JOURNAL BIG INTERVIEW
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An interview with the experts
Claire Boscq-Scott, AKA, The Busy Queen Bee talks to Keith Beecham, CEO of Visit Jersey
CBS: Hi Keith, thank you very much for being my guest today! How long have you been in Jersey now? KB: I came on the 30th March 2015 on that rather memorable, initial Condor Liberation journey, so I spent an extra night in Guernsey, that’s 2 years and 4 months. CBS: Wow; time flies when you’re having fun, doesn’t it? KB: It certainly does, I don’t know what’s happened to the last 2 years. It’s fantastic because it shows how busy and productive I’ve been, at the same time, I’ve noticed how Jersey is a fantastic place, and I’m happy that I’m here with my family. CBS: When you arrived you already had the job so you obviously knew
the task at hand; what do you think is the biggest improvement that you’ve seen on island? KB: There are so many! I’ll try to focus on what are probably the more important ones. I am told that the tourism industry is changing; restaurants, hotels, attractions are working better together than they were historically I can’t judge that, I can only say what I’m told. I sense that there is willingness to collectively promote Jersey - it is a great place, I live here it’s a fantastic place. I think what we are trying to do with the industry partners is talk about Jersey with one voice so it’s easier for the potential visitor to say: “Oh OK, I understand what Jersey is trying to say to me. I like that, I think I’m going to have an experience.”
I think previously there were multiple ways of talking about Jersey, and like I said the biggest difference we are trying to make is to speak with one voice in very simple terms; we want to tell a wonderful story, the same story about Jersey. My first 6 months at Visit Jersey was just to listen to everybody. Yes I’m an expert, I spent 25 years in tourism before coming here, but that’s irrelevant if we don’t understand what Jersey is about; what are the aspirations? What do the people want Jersey to be? How do they want to, or do they want to work together? It’s also listening to customers because, surprisingly for some people, we spent thousands of pounds on research. I don’t think it had been done before to the same extent, we want to
“It’s all about the emotion and so experiences can tap in to all of that, great experiences make people want to return.”
understand who is the customer or the potential customer and equally who are not our customers, as part of marketing I think it’s about being clear who we want to influence but equally who we are not interested in influencing. There was very little current information so we commissioned research in the UK, France and Germany and a number of other European markets, really to understand who it is that might want to come. A brand is a promise, so that information, that research turns into a bigger consultation. When I first came to Jersey I was asking: what is Jersey, what is Jerseyness? I had hundreds and hundreds of replies; most of them were really helpful, but I discovered that if you ask a hundred people in Jersey a question, you’d get 120 different answers. All of them important and nearly all of them relevant but how to bring them all together was what the brand was about. We worked with different companies, some of them loved to help as well, that’s how we came up with the island break, the journey of rediscovery, the zest for life, we don’t care about your age it’s about your attitude - Jersey is about how you feel.
CBS: What are Visit Jersey’s objectives? KB: Well i think we’ve got a couple of objectives, of course they are all out there in our business plans but at the top of the piece paper it’s about telling fantastic stories. People come, they spend money, our economy prospers - that’s it. The way we do that is with a brand, we work with tour operators and travel agents, we encourage more links between the islands and a large part of our work going forward will be around what we might call the product, the experiences visitors have here. The first year was getting the story sorted, now we’re confident that we’ve got a good story and we are working well with our partners. It’s time, I think, to work with our own products; what is the experience that people have? It’s almost like imagining the day and the life of a visitor - they land at the airport or seaport, let’s think of every single touch point, could it be better? Is it as good as a competitor destination? That’s the sort of stuff that we need to be working on going forward - not because we are doing it badly, but because, like all things, everything can be done better.
Photographs provided by Claire Boscq-Scott
THE JOURNAL BIG INTERVIEW
There is another role which I think is important and that is that we try to advice the government about productivity and competitiveness in the hospitality, tourism and visitor economy. There are lots of different opportunities to have that; so there is a whole planning regime in Jersey that protects our beautiful island. Businesses are trying to grow and they need to fit in to the planning regime, so we support and work with companies. I mean the topical one is waste at the moment; OK we don’t love it, we don’t shout about those things, but we will use evidence to have very logical conversations to say, well this is the impact this is having on the visitor economy; we are not taking a resident’s point of view, we are taking the visitor′s point of view. So that’s quite an important one that maybe the public don’t see but we are there to advice, to help the productivity and to help with the competitiveness of Jersey. And then I guess the third bit is about bringing everybody together. We could spend all the money on solo-marketing but we’d rather sit down with our hoteliers, our travel companies, our visitor attractions etc. and see how we can work together. So businesses thrive and the economy of Jersey thrives - that’s how partnerships work; those are the 3 key headings. CBS: You and I are very keen on the experience; what does “experience” mean to you and how can businesses create an experience? KB: In tourism it’s a really interesting
question because different visitors go through different life cycle. Take the Chinese today, it’s all about gathering trophies. They want to go to Tower Bridge, they want the Empire State Building. The Japanese were like this about 15 years ago; the Brits were like this probably a 100 years ago, all the way to Thomas Cook over a 120 years ago, the brand, the cultural tours around Europe. As nations develop, people can afford to travel, people want those tick lists. That’s not really about an experience that’s just sight-seeing, I’ve seen it; the Chinese, the Japanese before that and even the Americans if you go back to the 60s; they were doing 8 or 9 European countries in 6 or 7 days. That’s simply bragging right? It’s not like that for the vast majority of visitors today though, I think what visitors increasingly want is an experience; they’ve got a car, they’ve got a refrigerator, they’ve got a TV and they can probably replace most of them as and when they need to. What they are looking for is an “emotional” product as opposed to physical products. Holidays are about emotion, you are either with family, with a friend, with a partner, with your children, whoever you’re with, it’s all about the emotion and so experiences can tap in to all of that, great experiences make people want to return. We can offer fantastic experiences, we are a beautiful island; we’re a very safe place in a kind of dangerous world at the moment. We are relatively easy
to get to, although that doesn’t always seem to be the case! What people want is the experience, it’s a memory that never fades in a sense - when you have that sunset it stays with you for a long, long time. The fridge is kind of functional, it does what it does but a holiday sort of feeds your emotions, your wellbeing and sense of identity. It’s not necessarily about a castle or about the zoo, but about the emotion and the feeling you have at these places. You’re getting to spend quality time with your family that you wouldn’t get to do the other 50 weeks of the year. The zoo, the castle, the country side, whatever gives you the opportunity to have that experience. What we must do is know what these experiences are that Jersey can offer and then tell the world. CBS: Brilliant! My last question, can you give me 5 words representing exceptional customer’s service? KB: I spent 15 years in Japan and one of the lessons I learned there is “when the customer is wrong the customer is right.” Essentially you’ve got to accept that the customer isn’t always right, but they are right because they’re the customer.” It’s very difficult to accept that sometimes, and that wasn’t 5 words! CBS: No but that’s perfect, that’s absolutely perfect.
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THE JOURNAL BUSINESS ADVICE
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TOP TIPS FOR STARTING YOUR OWN BUSINESS Words by Rachel Matthews, Director, HLG Accounts
Start your business while you're still employed. How long can most people live without money? Not long! You may have mortgage commitments, family to support and it may be a while before your new business actually makes any profits. Being employed while you're starting a business means money in your pocket while you're going through the set up process. It may take a while before the money comes in. Get support You do need a support system while you're starting a business (and afterwards). A family member or friend that you can bounce ideas off and who will listen sympathetically is invaluable. Even better, find a mentor or a current business owner, when you're starting a business. Experienced guidance is the best support system of all.
Get clients or customers first Don't wait until you've officially started your business to line these up, because your business can't survive without them. Do the networking. Make the contacts. Sell or even give away your products or services. You can't start marketing too soon but do not spend too much on advertising as this will impact your overheads and you need to keep them low as you may have rent and staff to pay. Write a business plan He who fails to plan, plans to fail. This is your bible and work in progress. After all if you have no aims and goals then you will fail to remember why you set up in the first place. The main reason for creating a business plan first when you're thinking of starting a business is that it can help you avoid sinking your time and money into starting a business that will not succeed. Remember, you don't have to work
through a full scale business plan for each new business idea you come up with but it does help and is key to a successful business. The other advice would be to work out a simple cash flow forecast i.e income less expenditure to keep you on track and assess how you are progressing with your business. Do the research and know your market You need to do a lot of research writing a business plan, but that's just a start. When you're starting a business, you need to become an expert on your industry, products and services if you're not already. Joining
“You do need a support system - a family member or friend that you can bounce ideas off and who will listen sympathetically is invaluable.”
related industry or professional associations before you start your business is a great idea. Also always ensure your charge out rate and / or products are pitched at the right market rates. Get professional help On the other hand, just because you're starting a business, doesn't mean you have to be an expert on everything. If you're not an accountant or bookkeeper, hire one (or both). If you need to write up a contract, and you're not a lawyer, appoint one. You will waste more time and possibly money in the long run trying to do things yourself that you are not qualified to do. Get your finances right Save up if you have to. Approach potential investors and lenders. Don't expect to start a business and then walk into a bank and get money. Traditional lenders don't like new ideas and don't like businesses without proven track records. They
require at least 3 year’s trading history and accounts before they even consider lending business loans or overdrafts.
Be professional from the start You need to let people know that you are a professional running a serious business. That means professional business cards, a business phone and a business email address, and treating people in a professional, courteous manner at all times as people never forget! Get the legal and tax issues right Does your business need to be registered? Will you have to charge GST? Do you need Employment Liability Insurance? How you form your business affects your income tax situation. Learn what your legal and tax responsibilities are before you start your business and operate accordingly. Forge good relationships with Social Security and the Taxes office, after all they are there to help and are not scary people!
Keep overheads low Remember when you set up a business it is easy to spend the money and then harder to make it! Keep your overheads low in the first couple of years until your are established. Work from home if your business permits, look at cheap advertising i.e editorials in your local newspaper, Business flyers, keep staff to a minimum, shop around for deals. Speak to your Bank as local branches sometimes offer 1 year’s free business banking i.e no charges for a year which can be a blessing to a small business as every little helps! Lastly - enjoy! You're going to devote a lot of time and energy to starting a business and building it , so it's really important that you truly enjoy what you do, as there will be times when you ask yourself ‘ what am I doing?’ ‘Is it worth it?’ Remember don’t be put off with the setting up of the business, the hardest part is running it!
THE JOURNAL BUSINESS ADVICE
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The three Rs of marketing: Reputation, reach and relationships Words by Nichole Culverwell ACIPR, Director, Black Vanilla
“A good reputation will create a buzz about your brand; customers who are attracted to your business because of its reputation will in turn influence other potential customers.” Many organisations find it incredibly difficult to dedicate enough time to marketing and thinking about all the different tactics can be overwhelming for business people who do not have the right experience. However, it is important to remember that social media, content, media relations, sponsorship, advertising and events etc. are simply tools and tactics. It can be helpful to take a step back and take a different perspective. Most, if not all, organisations need to consider three key areas to help define their marketing activity. We call them the three ‘Rs’ – reputation, reach and relationships.
1. Reputation
Establishing and maintaining a good reputation has a direct impact on your business’s bottom line. The UK Reputation Dividend Report found that corporate reputation contributed £790 billion of shareholder value to the top 350 FTSE companies. We believe that activities which build a company’s reputation should not be viewed as a marketing cost, but instead be incorporated into business operations. Why? Because they are fundamental to the success, and the value, of the business. Put simply, a business will find it easier to achieve its objectives if it has a good reputation among stakeholders such as customers, opinion leaders and suppliers. Remember, your actions, together with what other people think and say about you, are what create your reputation. In a competitive employment marketplace like Jersey, potential employees are more likely to be attracted to businesses with a good reputation and those businesses should find it easier to retain employees. A good reputation will create a buzz about your brand; customers who are attracted to your business because of its reputation will in turn influence other potential customers. Whether you need to develop,
protect, enhance or repair your reputation, it is fundamental to how you plan and protect your business.
2. Reach
The second of the three ‘Rs’ is reach. Reach the right audience, with the right message, through the right channels and cut through the noise of the competition. Reach can be viewed as either paid, owned, earned or shared: Paid media includes sponsorship, print, TV or radio advertising, ambient advertising, PPC or online activation and paid influencers. Paid media guarantees placement and message and is controllable. Owned media includes your website, the content you produce, your shop windows or van, your branded clothing, brochures, newsletters, social channels, your stand at a trade show and so on. Use it to tell your story. Earned media includes editorial, review websites and the output from unpaid influencers. Finally, it is helpful to think of social media as ‘shared media’ but of course that overlaps significantly with many of an organisation’s owned channels. Remember, 97% of consumers search online for products and services, so thinking about your online presence is crucial.
3. Relationships
The relationship between an organisation and its audiences will lead to engagement and ultimately help meet the business objective – whether that is making a sale, breaking into new markets or changing an opinion. Spending time mapping your stakeholders, examining how the company engages with them, looking at how influence cascades and planning stakeholder engagement campaigns could well make the difference between success and failure. The three ‘Rs’ provide organisations with a framework to consider marketing. If you would like a free ‘3Rs’ audit, please email nichole@black-vanilla.gg
Do you want to be involved? Do you have a story you would like to share? Contact Mark on 07829 838844 or email contact@jerseypages.info
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THE JOURNAL FINANCE
Who is Tupper Loan Co? TLC is a friendly finance company based at New North Quay, St Helier. If you are looking for personal/ business loans, vehicle or marine finance then TLC is exactly what you need.
“They told us that their 5 year plan was to expand their team to 5 people - after just three years they’ve reached that goal.” Tupper Loans Co was set up by local individuals, David Tupper and Steve Moore, who between them have more than forty five years lending experience in Jersey. Where did TLC come from? David said he thought he had retired from lending a few years ago, however, he seemed to still enjoy advising and meeting up with long standing customers in coffee bars. In short he realised he was missing the industry and its customers. He didn’t actively seek out the business until Steve Moore approached him with a view to set up an office and provide a more professional and integrated service, and that is when Tupper Loans Co was born.
David Tupper Steve Moore 07797 717339 07797 724552 david@tupper.je steve@tupper.je David and Steve launched in 2014 and have gone from strength to strength with their growing team. They told us that their 5 year plan was to expand their team to 5 people - after just three years they’ve reached that goal. Two years ago Les Ainscough joined the team, with David Rive joining last year. More recently they’ve w e l c o m e d Georgina Diniz. Les Ainscough Les has been in
the Finance industry since 1989 and has built up a solid well-deserved reputation for honesty and integrity as well as constantly eating Tuna sandwiches. 07797 818642 | les@tupper.je
David Rive David is a good looking, locally born young man (his words) who in his spare time enjoys boxing, music and rowing. David is looking forward to helping individuals and businesses with any financial needs they may require whether it be a small loan or just for a bit of advice with any problems/queries that anyone might have. 07797 857120 | david.rive@tupper.je
Georgina Diniz Georgina has 16 years of experience within the l e n d i n g industry, she prides herself on excellent customer service and finding the right finance package for each individual and business. Georgina also speaks fluent Portuguese and over the years she has helped many from the Portuguese community with their financial needs. georgina@tupper.je The team at TLC don’t just provide a choice of beverages and a pleasant view of the marina though, they also arrange mortgages! With their breadth of knowledge, uniquely flexible solutions and their range of loan products, it’s safe to say they’re not like most other companies. Why not save time and start your
application online now? At Tupper Loan Co they make things easy, it really is up to you how things are done - you can meet in person, have a telephone conversation or start your application online. Take your pick and they’ll be in touch soon… Overall at Tupper Loan Co they offer a friendly yet professional service and we would recommend anybody considering a loan to pay the office down at the Marina a visit. 17 New North Quay, St Helier 01534 724 552 www.tupper.je
TLC office - next to Kufra’s
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THE JOURNAL ADVERTORIAL
A global company with big ambitions - Estera Estera is a thriving corporate, trust, fund and accounting services provider within the fiduciary and administration industry. We are a global organisation with over 370 people operating from ten offices around the world in key offshore jurisdictions and major international financial centres. A global company with big ambitions Since our management buy-out from leading offshore law firm, Appleby, in December 2015, we have focused on growing our business by developing our long-term client relationships and through strategic acquisitions. Earlier this year, we acquired Guernseybased funds business Morgan Sharpe. And in the autumn, subject to regulatory approvals, we will welcome to the group a further 100 employees from Heritage Financial Services Group, which has offices in Guernsey, Malta and Belfast. Our commitment to our people We believe that our talented employees are the ‘stars’ of our business, so at every opportunity we identify, nurture and grow that talent from within our organisation. Our rapid expansion means we are also continually looking for professionals with a broad range of fiduciary services skills and experience. In particular, people with welldeveloped client relationship management abilities and a desire to always deliver unparalleled service.
“Collaboration is central to our success at Estera. Our teams from across the globe come together to deliver solutions that best suit our clients’ needs, whatever the jurisdiction. We drive the business forward by focusing on the development of our people so that they achieve their personal goals and ambitions and at the same time raise the service delivery bar that little bit higher for our clients.” Farah Ballands, Estera Chief Executive Officer Exciting careers We are, of course, committed to ongoing learning and development including job specific and general training and, where appropriate, achieving professional qualifications. What makes us different though, are the opportunities presented by our network of offices across the globe. These, coupled with the cross-functional and cross-jurisdictional development programmes we have in place, help individuals shape broad based, exciting careers at Estera.
As we look to the future we know we have exciting times ahead, if you would like to be part of the team that will help build that future please visit estera.com/careers for more information or contact Michele Gallagher, HR Manager on 01534 844836, michele.gallagher@estera.com or Rebeka Goncalves, HR Officer on 01534 844892, rebeka.goncalves@estera.com
Left top: Michele Gallagher, HR Manager Left below: Rebeka Goncalves, HR Officer
“Collaboration is central to our success at Estera. Our teams from across the globe come together to deliver solutions that best suit our clients’ needs, whatever the jurisdiction.”
Farah Ballands, Estera Chief Executive Officer
BERMUDA
CORPORATE / TRUSTS / FUNDS / ACCOUNTING
BRITISH VIRGIN ISLANDS CAYMAN ISLANDS GUERNSEY HONG KONG ISLE OF MAN JERSEY MAURITIUS SEYCHELLES SHANGHAI
Be part of our exciting future. Our people are the stars of our business. estera.com
We are a global company with great ambitions. We want to recruit the brightest minds to provide quality solutions aligned with our clients’ individual requirements. We are actively looking for talented individuals, bringing a broad range of skills, to join our rapidly expanding business. If you have skills in these areas, we want to hear from you:
• • • • • •
Global operations, business integration and project management Reporting and financial control Client accounting and bookkeeping Employee benefit trust administration Corporate and real estate administration and client relationship management Corporate business development
Interested in joining an award-winning, growth-focused fiduciary business? Contact Michele Gallagher – HR Manager on +44 1534 844 836 or send your CV to michele.gallagher@estera.com
Estera Trust (Jersey) Limited is regulated by the Jersey Financial Services Commission
QUALITY ALIGNED
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07829 838844
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