Guernsey Launches US Joint Venture

Guernsey-based regulatory consultancy Midshore Consulting USA LLC (Midshore USA) announced the launch of a joint venture in the United States to attract more American-sourced work to the island.

Incorporated in Florida, Midshore USA will be operating throughout North America and the Caribbean. The consultancy is jointly owned by Midshore Guernsey and Sonya Slater, formerly employed by Investec Asset Management as global head of fund operations.

Christopher Jehan, managing director of Midshore Guernsey, said, "Our American joint venture aims to feed more US-sourced work into the island, utilizing both our services and those of the local financial services sector.

"As an island we have already seen an increase in business flows from the [United States], and Guernsey ticks many of the boxes that the Caribbean offshore centers do not."

Ms. Slater, president of Midshore USA, said, "After a long career with one firm, the time felt right to take a break and then collaborate with Christopher to form a partnership that can create and make a real difference to investment firms that wish to utilize a practical approach that extends beyond operations, regulation, fund restructuring, distribution, and governance."

Ms. Slater spent more than 30 years with Investec Asset Management in a variety of roles in the United Kingdom and Luxembourg and managed multijurisdictional teams.

Mr. Jehan is current chairman of the Guernsey Investment and Funds Association (GIFA). Established as a trade association in 1989 and merged with the Guernsey Investment Managers and Stock Brokers Association in 2019, GIFA was formed to represent the island's growing fund and investment management industry.

Guernsey Finance will send an industry delegation to New York in mid-November.