What comes next for the Channel Islands

Intertrust is now one of the largest providers of corporate, fund, real estate, private wealth, capital markets and employee benefit services in the Channel Islands, following the acquisition of Elian. Simon Mackenzie, MD of Intertrust in Jersey, and Paul Schreibke, MD of Intertrust in Guernsey, explain what’s different about the company and what comes next for this growing business.

What role do Jersey and Guernsey play in Intertrust’s global strategy?

Simon Mackenzie (pictured far right): With the addition of Elian, Intertrust now has a presence in 30 jurisdictions with 41 offices and more than 2,500 employees. More than 500 of our global team are in Guernsey and Jersey. The Elian acquisition reinforced Intertrust’s position as a global leader by strengthening and broadening its services in corporate, capital markets, funds, real estate, private wealth and employee incentives. Elian has expanded Intertrust’s geographic presence to include jurisdictions such as Jersey, and added scale in other key locations including Ireland, the UK and the Cayman Islands. The integration of Elian and Intertrust has allowed the two businesses to take the best of both organisations and create a new, dynamic strategy which will see the group develop and grow.

Paul Schreibke: Guernsey is a long-established member of the Intertrust family, and the firm has a heritage in the island that can be traced back to 1900. We’ve seen the economy change, evolve and reinvent itself many times over as industries rose and fell in importance. We’re rightly proud of our heritage, our extensive knowledge of the Bailiwick and how our work here contributes significantly to the global business.

What makes Intertrust an attractive place to work for employees and potential employees?

PS: There are many factors. Our global presence allows us to operate a global mobility programme, where employees can undertake secondments to offices around the world. We actively encourage participation in this programme, as we’re genuinely a global organisation that fosters talent across geographies. It’s also a real point of differentiation from our competitors and a fantastic experience for employees across various levels of the business. One of our managers recently undertook a three-month secondment to our Singapore office, gaining experience in a completely different jurisdiction and cultural environment.

Being listed on the Amsterdam stock exchange underscores Intertrust’s transparency, which I believe adds to our attractiveness as an employer. It also helps to make us the ‘go-to’ company for financial institutions, funds, corporations and high-net-worth individuals looking for a high-quality service with an open approach to what we do. We’re committed to ensuring our employees remain our greatest asset and we’re proud of the Global Intertrust Academy, which is our learning and development platform for all training initiatives within Intertrust. The programme offers both global and local training, with content relevant to all jurisdictions, both in terms of global technical knowledge and local development skills.

SM: We recognise that happy and productive employees result in satisfied clients, and we’re dedicated to investing in our employees to make Intertrust a truly great place to work. Our employees come from broad and diverse backgrounds including legal, tax, accountancy, audit and administration.

We have an inclusive and interactive culture – I regularly meet small groups of employees from across the business to seek feedback and ideas on how we can make this an even better place to work. The teams all work very hard and I’m keen we don’t forget to have fun along the way – it’s this fun element that’s epitomised by Intertrust Jersey’s legendary Christmas party!

What are the challenges of introducing the Intertrust brand in Jersey, how are you tackling them, and does having the brand in Jersey make a difference to Guernsey?

SM: I’m very enthusiastic about the challenge of leading Intertrust in Jersey. The rebranding completed on 12 December last year and, working with the existing Intertrust team, the transition was completed smoothly, right down to the newly branded Intertrust taxi. Our Jersey employees have embraced the new brand and we’ve recently been named Jersey Trust Company of the Year at the Citywealth IFC Awards. I believe there are great opportunities to build on the solid foundation we have in the island. We’re proud to be part of the Jersey community and feel a strong sense of responsibility towards it.

PS: Having an office in Jersey has given us a renewed energy and motivation to be seen as the best possible partner for our clients across the Channel Islands. Many of our employees are already working closely with the team in Jersey, sharing experiences and knowledge to further boost our expertise and client service. We are firm advocates of cross-border working – after all we do it globally – and we see cohesion and a cross-island approach as important, not least because it means we can support each other in seeking new opportunities and connections.

What are the benefits of being part of a sizeable global business?

PS: The increased scale strengthens Intertrust’s client service capabilities and broadens its career opportunities for employees. We offer our employees the opportunity to work in truly global roles, which is something that’s not always possible in many Channel Island businesses. That’s also a compelling point with our clients, as they’re safe in the knowledge that we can service their needs locally and globally.

SM: Ultimately we can provide a service for our clients from all corners of the world. We have offices in all key financial centres and we have strong relationships with strategic business partners globally. It can’t be overemphasised that our people are the centre of our network – we now boast expert, client-focused colleagues across the world, meaning we can help our clients wherever they are.

As an MD, what are you looking forward to in 2017 as part of Intertrust?

SM: The continued success of the Channel Islands in the face of changing global socio-economic circumstances is no coincidence. We have an infrastructure that makes it easy to do business and we’re upbeat about the opportunities for future growth in both islands. We have a global approach to new business origination and we’re confident and excited about the opportunity to continue to grow our business in the Channel Islands.

PS: We’ve seen an increase in business coming from Europe recently and witnessed many private equity structures and hedge funds re-domiciling in the Channel Islands, so we will have to see what opportunities this brings. Beyond Europe, the future is looking bright as many local firms are already engaged in significant funds and corporate work with clients in the Middle East and the Far East markets.