Sovereign has had a presence in Guernsey for more than a decade, and now has around 50 staff on the island providing services across the pension, private client, trust and corporate services areas.
A strategic internal review of our Guernsey operations was undertaken in 2021 and, as a result, the pension business was split out from Sovereign Trust (Channel Islands) Ltd with the formation of Sovereign Pension Services (CI) Ltd. This restructuring has allowed us to better focus investment and resources on growth in each respective business area.
New business into the Sovereign Trust (CI) segment has been at its highest since Sovereign first began operating in Guernsey, while the existing business has continued to develop and thrive. We have a growing team of client service support staff on-island, including a dedicated team to assist with all new business onboarding.
Sovereign Trust originates its own business with dedicated Business Development staff locally, but also receives introductions and business referrals via the Sovereign Group’s regional offices and Business Development teams worldwide. This has included business introduced from colleagues in the United Arab Emirates, South Africa, Hong Kong, the UK, Singapore, and many more.
Sovereign Trust (CI) has also seen a substantial increase in enquiries from Channel Islands-based lawyers, accountants, private client advisers, family offices and trust and corporate service providers who have clients requiring services in other jurisdictions that they are unable to facilitate directly.
Sovereign Trust has a global network of offices, with particularly strong representation in Asia, Africa, the Middle East and Europe, which can support other parties with market entry, management and administrative support services in these respective jurisdictions.
In some cases, this might simply be an introduction to the relevant teams in a specific region, in others we may maintain an ongoing relationship in support of that arrangement, not least in respect of Sovereign’s linguistic capabilities and knowledge of local business practices.
For any Channel Islands-based service providers or intermediaries who require services in other jurisdictions, please contact Sovereign Trust (CI) to find out what we can do to assist.