Guernsey Finance has appointed Christopher Chan as its first Hong Kong representative.
Chan will lead Guernsey’s promotional efforts in Hong Kong and provide a presence for Guernsey Finance and its member firms.
In addition, Chan will promote Guernsey in the wider Southeast Asia region.
Guernsey Finance opened its Hong Kong office in March last year. The office is used by Guernsey Finance’s China representative Wendy Weng as a base to carry out further promotional activities on the wider Southeast Asia market.
The office is also used by the Guernsey Financial Services Commission (GFSC) to provide regulatory advice to those in the region who might be considering Guernsey-specific ventures.
Last year, Guernsey representatives signed agreements with both the China Captive Alliance and the Kashgar government to promote captive insurance in the region.
The agreements, signed in June, laid out plans to cooperate on captive insurance market development and on financial innovation; to promote the viability of the Chinese captive market; and to cooperate on communication between China and the international captive industry.
Kate Clouston, director of international business development at Guernsey Finance, said: “We’ve had a really positive experience since opening our Hong Kong office, so much so that we now require a permanent representative to be based there.”
“There are a growing number of opportunities across all sectors and we’re therefore excited to be able to share Guernsey’s complete offering with the Asia market. It has reaffirmed our belief that Hong Kong is an important financial hub and our continued commitment to the region can only be seen as a positive for business prospects and the further development of Guernsey relationships in Asia.”