The financial services industry in the Channel Islands has been on a roll over the last decade. The sector now accounts for more than half of Jersey’s economy, employing some 55,000 people. The island’s fund servicing industry alone is now estimated to be worth £112.5bn, with Jersey home to some 1,367 funds and subfunds – a 150% rise in just five years.

It is a similar tale in Guernsey, where the financial services industry also accounts for more than half of the island’s income.