Development of Jersey’s identity good for companies and clients

Yesterday, Jersey's Chief Minister, Senator Walker, announced that a historic agreement had been signed with the UK's Secretary of State for Constitutional Affairs, Lord Falconer.

The agreement confirmed Jersey’s constitutional relationship with the UK and marked a significant step in the development of Jersey’s independent international identity.

Commenting on this announcement, Paul Patterson, Head of RBC Global Private Banking in the British Isles said: "The agreement to develop Jersey's international identity is good for companies based on the Island and their clients as it provides greater certainty regarding the Island's future stability, security and ultimately economic growth.

“The significance of the announcement should not be underestimated. This important agreement provides a framework that includes formal recognition from the UK that Jersey has a unique and separate identity to the UK. In the increasingly globalised business environment in which Royal Bank of Canada and other Jersey companies operate, this new freedom will be invaluable in enabling us to better shape our own destiny.”