The traditional gift for a 65th anniversary is blue sapphire, particularly apt as we mark this significant milestone for our ‘jewel’ of a Jersey business. While Apex Group was founded in 2003, in recent years, we have acquired a number of businesses in Jersey with a far longer heritage on the Island, pre-dating its designation as an International Financial Centre in 1961.
Our Jersey business started life as the British Law Executor and Trustee Company in 1956 – much like this year, crises in the Suez Canal and vaccines (for polio not Covid) were in the headlines. The business has reinvented itself with a number of name changes over the years, from Sun Alliance Trust Company, Royal & Sun Alliance Trust becoming Capita Trust Company in the early 2000s and Capital Asset Services in 2013. Since celebrating its 60th anniversary, the business has now joined the Apex Group, offering employees and clients alike the benefits of being part of a global financial services provider. Through this change, we have ensured continuity and consistency of service for our clients – investing in our technology and people to form enduring client relationships.
Jersey is now one of the Group’s largest offices, employing 200 people of the company’s 4,000 employees across 45 offices worldwide and servicing over 2,000 client structures. This commitment to a strong local presence with global reach across multiple jurisdictions is a compelling proposition for our clients in Jersey.
Jersey continues to play an important role on the global financial services stage, with an embedded ability to adapt quickly as a jurisdiction. The lines of communication between the industry, the Government and the regulator are very strong; this means that Jersey is able to adapt, and remain flexible and robust.
In the last 65 years, the alternative asset administration has grown beyond all expectation, and some of the biggest funds in the world continue to close in Jersey. For example, CVC Capital Partners closed its $20bn+ fund in 2020, and other major players like Nordic Capital and Triton continue to close funds successfully in Jersey. We also see that the Jersey Private Fund regime remains very popular because of its flexibility and speed to market. Fund managers and investors want a regime that is robust and flexible, and that is what Jersey offers.
If there is a secret to our success in Jersey, it is our people. The Jersey talent market remains as competitive as ever and we remain committed to finding, training and retaining the best the market has to offer. Fittingly for this milestone, we have promoted 65 people in the last 18 months, and nearly three quarters of our Jersey team hold, or are working towards a professional qualification.
As Jersey continues to attract interest from global funds and businesses, we are better placed than ever to meet their needs, with our excellent local team delivering truly global single-source solution. Thank you to all our clients and colleagues who have joined and supported us on the journey so far – we look forward to another 65 years in Jersey.
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