Michael Crowe, Chief Executive of Finance Isle of Man, outlines how the jurisdiction continues to build successful global relationships, even in tough times
The last 18 months have been challenging for us all, on both a personal and professional level, and no one could have anticipated the level of disruption we have all experienced. However, the Isle of Man’s financial and professional services have continued to innovate, evolve and collaborate internationally and this has been recognised as the island was named “Best International Finance Centre” for the fourth time in the past five years by International Investor Magazine.
The Isle of Man has a long tradition in financial services, leading in innovation and regulation. It houses diverse sectors, encompassing banking, insurance, fiduciaries, funds and wealth management, pensions, and professional services. The island is home to a wide range of firms and the sector remains an important contributor to the Island’s economy.
As we are turning the tide on Covid-19, I believe international finance centres such as the Isle of Man will play a crucial role in helping business to flow. Therefore, both public and private sectors must continue to work together to overcome the unique challenges that we now face.
The Isle of Man has always been an outward looking jurisdiction, building relationships internationally has always been an important priority. As a private/public partnership, Finance Isle of Man is tasked with collaborating with local industry to understand and best represent the needs of our finance sector. We look to promote and develop the Isle of Man’s significant financial and professional services industry in key jurisdictions and ensure its recognition as an international financial centre of excellence. We are looking to build on our historic connections with South Africa and further develop mutually beneficial links with Hong Kong and the Middle East, supporting Manx businesses with their activity in these regions.
We have executed a successful digital campaign, “The Natural Choice”, highlighting the Isle of Man as the natural choice for excellence in finance. The campaign has featured a series of podcasts and articles from the leading members of the Isle of Man financial and professional services sectors that will particularly be interesting for the South African professionals. Looking ahead, we are working with industry partners to develop new campaigns for 2022 and an international event programme to continue our support to Manx businesses with operations in South Africa and around the world.
About Isle of Man
Finance Isle of Man is an executive agency of the Isle of Man Government.
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