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In his new role, Philip will take on responsibility for enhancing Jersey's visibility in the US as an international finance centre, focusing in particular on promoting Jersey as a gateway to Europe for US fund managers.

With over 20 years of professional experience spanning investment banking, investment management, consulting, auditing and accounting, Philip has a track record of growing and leading businesses in the Caribbean, US and Europe. He has a particularly deep knowledge of the hedge fund sector, with experience in multi-jurisdictional fund structuring, governance, regulation, legal, compliance, risk and operational management.

Previously, Philip was an independent director for hedge, private equity and investment companies and before that was Partner and Director of Silver Sail Advisors LLP, a London-based independent investment advisory firm. Prior to that, he was a Partner and COO at Silverstone Capital LLP, a hedge fund group based in London, whilst he has also worked as an equity research analyst and in forensic accounting in the US. He is a member of The Alternative Investment Management Association (AIMA).

Jersey Finance's office in New York, which will be situated on Avenue of the Americas, is due to be formally opened at a launch event later this year.

Joe Moynihan, CEO, Jersey Finance, said: "At the start of this year, we set out a clear vision to expand our global reach and diversify our proposition in overseas markets, and developing our footprint in the US is a key part of that. Philip will play a vital role in enhancing our visibility and clarifying our proposition in the US, 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."

Commenting on his new role, Philip commented: "Jersey is perfectly positioned to capture a burgeoning US institutional investor market that is looking acutely at European opportunities but that is cautious because of the complex European regulatory landscape. With a position outside of the EU, a fantastic reputation for global funds business, a world-class regulatory framework and an impressive range of structures, including the Jersey Private Fund, Jersey has a really exciting opportunity to provide US managers with a solution that clearly meets their needs. "I'm now looking forward to working with firms and contacts to build a strong network in New York and beyond " The most recent Monterey Insight Jersey Report 2018 found that US promoters' assets under administration in Jersey have increased by 148% over the past five years.