Fairbairn Private Bank today announces (15 September 2008)
that it is to be the first British offshore island bank to be
granted a banking and investment licence by the UK’s Financial
Services Authority (FSA).
This landmark move for Fairbairn Private Bank,
which has offices in the Isle of Man, Jersey and South Africa, is
the first example of a British offshore bank opening its doors to
clients in London.
The bank’s full range of award winning
products and services will now be available to account holders
throughout the UK.
This latest expansion coincides with the
bank’s 21st year of operation. Since 2001 the bank has
amassed 37 awards, ranging from internationally recognised Product
and Service awards and the “Investors in People” standard, to UK
Best Business Accreditations. Significantly, Fairbairn
Private Bank is the only British offshore Island business to have
received a UK National Training Award.
At number 42, Fairbairn Private Bank is the
only company to have continually moved up the ratings in the Sunday
Times “Best 100 Small Companies To Work For” for each of the past 4
years. It is also the only British offshore Island financial
services organisation to be featured in the highly coveted
listing.
Most recently Fairbairn Private Bank was
awarded the titles of “Best International Private Bank Group” and
“Best International Wrap Provider” by an independent panel of
industry experts at the International Investment Fund & Product
Awards 2008.
Greg Horton, Fairbairn Private Bank’s managing
director, commented:
“We are very excited about our launch into the
UK market place and look forward to fulfilling the needs of our
future clients there. We believe our innovative international
offering will be attractive to the growing number of UK based high
net worth individuals and allow us to succeed in what is a highly
competitive market. Our continued growth provides
further employment opportunities across the business, including a
substantial increase in staff during 2008, over half of which will
be located within our offshore Island offices”.
Geoff Cook, Chief Executive of Jersey Finance,
commented: “Fairbairn Private Bank are a dynamic and forward
thinking bank, this is evident in the numerous accolades they have
received for their products and services. The expansion plans
of Fairbairn Private Bank demonstrates that Jersey is a great
jurisdiction from within which to grow and we wish them well in
their venture. Our recent research, known as the Jersey
Finance Strategy Project – Future of Finance 2015, identified the
need for further promotion of Jersey in financial jurisdictions,
such as London, and the bank’s imminent launch there will assist in
raising the profile of the island”.
Isle of Man Treasury Minister, Hon. Allan
Bell, MHK, commented:
“Fairbairn Private Bank has contributed
enormously to the Isle of Man’s thriving financial services sector
over the years, providing a model for excellence in private
banking”.
“As a result we are very proud to see this
Isle of Man success story expand its services onshore, particularly
to the well-established global financial centre of London. It
is a momentous move which benefits the local community by providing
employment opportunities on-Island, as well as giving us the chance
to share our business expertise with the UK market and develop our
close links and economic contribution to the City of
London”.
“This landmark enterprise provides further
proof of the strength of our financial services industry and
reinforces the Isle of Man’s position as a world leading
international finance centre”.
*International Investment Fund and Product
Awards
Ends
For further information:
Janet Taylor or Lesley Allegro, Fairbairn
Private Bank +44 (0)1624 645000
Stuart Lerman or Kelly Miller, Lansons
Communications +44 (0)20 7490 8828
Ray Davies, Isle of Man Finance +44 (0)1624
686 406
Photograph: A photograph of
Greg Horton is available on request.
Notes to Editors
About Fairbairn Private
Bank
Fairbairn Private Bank operates a
comprehensive private and personal banking operation on behalf of a
wide range of clients. These include private individuals, small and
large companies, trusts, governments and institutional investors. A
full range of banking, investment, trust and corporate services can
be accessed through its offices in the Isle of Man, Jersey and now
London, together with its representative office in South
Africa.
Fairbairn Private Bank is a member of the Old
Mutual Group.
When referring to Fairbairn Private Bank –
please ensure that the company name is printed in full and not
abbreviated.
About Isle of Man Finance
Isle of Man Finance is a division of the
Treasury Department of the Isle of Man Government. It is
responsible for assisting new financial services businesses to
establish themselves on the Island, international media relations,
international marketing and supporting existing Isle of Man
financial services business.
Visit: http://www.isleofmanfinance.gov.im/
About Jersey Finance
Jersey Finance Limited (Jersey Finance) has been formed to
represent Jersey’s Finance Industry and to promote the Island as an
International Finance Centre.
It acts as a central communications point, offering journalists
and anyone connected with the Finance Industry, both locally and
internationally, up-to-the minute information on issues affecting
Jersey’s Finance Industry.
Visit: http://www.jerseyfinance.je/