Offshore Financial Services in Guernsey --- Aarkstore Enterprise

HTML clipboard

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.

*ducted 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 Guernsey's offshore client base.

*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 they are generally risk averse individuals 2
Offshore clients are looking for the basics from their banks and are expected to maintain a defensive stance going forward 2
Guernsey bankers need to focus on brand, image and reputation and defensive products in order to attract and retain offshore clients 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 of banks on the islands and the IoM are from Western Europe, specifically from the UK 6
The three island centers service a very Western European offshore clientele 6
Guernsey focus: Guernsey has a higher concentration of Western European clients 6
Britons are very important to the island banks, but not uniformly important 7
Guernsey focus: British offshore investors have less in assets under management in Guernsey than Jersey, but more than the IoM 8
Historic links with Hong Kong make this region particularly important to banks in the islands 9
Guernsey focus: Hong Kong investors are well represented among the Asian client segment 9
Offshore clients are banking on the islands because they get a more personalized service than they would onshore 11
UK clients who use banks in the islands are attracted to them because they get a more personalized service 11
Guernsey focus: Guernsey clients seem to be more motivated by the safety of their money and better returns 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
Guernsey focus: Guernsey clients are more diversified than elsewhere 13
Offshore clients of banks in the islands are expected to make small adjustments to their portfolios going forward 14
Guernsey focus: the portfolios of offshore clients of banks in Guernsey are set to change more than on average 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
Guernsey focus: Guernsey clients have a good understanding of risk and return and demand frequent communication with their bankers 16

For more information, please visit :
http://www.aarkstore.com/reports/Offshore-Financial-Services-in-Guernsey-36614.html

About the Author:
Aarkstore Enterprise specialize in providing online market business information on market research reports, books, magazines, conference booking at competitive prices, and strive to provide excellent and innovative service to our customers. We are built on the premise that reading is valuable, capable of stirring emotions and firing the imagination. Whether your looking for new product trends or competitive analysis of a new or existing market, Aarkstore Enterprise has the best resource.