Jersey Finance, the globally-focused marketing arm for Jersey’s financial services industry, has named Philip A. Pirecki to head up a new representative office it plans to open in New York later this year.
Pirecki, pictured left, an American who most recently has been a director at Premier Fiduciary Services (Cayman) Ltd, will "take on responsibility for enhancing Jersey’s visibility in the U.S. as an international finance center, focusing in particular on promoting Jersey as a gateway to Europe for U.S. fund managers," Jersey Finance said, in a statement.
The organization said Pirecki has had more than 20 years of experience in investment banking, investment management, consulting, auditing and accounting, with a track record of having helped businesses in the Caribbean, U.S. and Europe to grow.
In particular, Pirecki has a "deep knowledge of the hedge fund sector, with experience in multi-jurisdictional fund structuring, governance, regulation, legal, compliance, risk and operational management," Jersey Finance said.
Jersey Finance said its office will be located at 1185 Avenue of the Americas, between West 46th and West 47th streets. The office is due to be formally opened at a launch event later this year.
Jersey, one of the U.K.'s so-called Crown Dependencies (along with Guernsey and the Isle of Man), is located in the English Channel, around 14 miles (22km) off the coast of France. It has been a financial center for more than 50 years.
Jersey Finance, a not-for-profit promotional organization, was founded in 2001, and today has offices in Jersey, Hong Kong and Dubai; "representation" in London; and what its website calls "virtual" offices in Shanghai and Mumbai.
Jersey Finance chief executive Joe Moynihan said the organization saw "developing our footprint in the U.S." as part of its ambition to expand its global reach while diversifying its "proposition in overseas markets."
Pirecki, he added, would "play a vital role in enhancing our visibility and clarifying our proposition in the U.S., where we see significant opportunity and are already seeing traction – particularly in supporting fund managers who are seeking a reliable platform to support their European strategies.”
According to Jersey Finance, a recent report by Monterey Insight, a U.K.-based investment fund research organization, found that U.S. promoters' assets under administration in Jersey had increased by 148% over the five years to 2018.
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