Article
09 Apr 2025

Letter from America: US Market Update

As Guernsey Finance’s boots-on-the-ground in the US, my mission for 2025 is clear: more cities, more events, more face time, and more introductions. I remain committed to building upon the strong foundation laid last year. We’re doubling down on building relationships, raising awareness, and securing introductions to industry that matter. 

Why the US? 

Because it’s the biggest market in the world.  

The US is not only the largest market for our services, but also as complex and geographically diverse as Europe. The US presents us with both an immense opportunity and a significant challenge—one that we are well-positioned to address. 

Guernsey’s financial sector, often described as a ‘financial butler,’ is tailor-made for what US managers, family offices, and advisors need: trusted, access to capital and investors, and extremely experienced in complex structures, be that in investment funds or private wealth.  

Strategy: Noah’s Ark – “2 by 2 by 2” 

My tactical approach is simple—and yes, slightly biblical: 

Continue regular visits to two core cities (New York and Miami) – our usual stomping grounds- but with aim of one new city at least per quarter – Boston, Chicago, Austin, LA, Silicon Valley… basically, wherever there’s coffee and capital! 

Follow the money and go direct. This means for funds, engage both large and emerging managers along with their intermediaries often outside our core market. For private wealth, it means to build stronger links, not only with intermediaries for UHNW families in non-core cities but also directly with single and multi-family offices across the US. 

Become an intermediary bridge. I am keen to strengthen the bridge between US and UK intermediaries—think of it as the ‘special relationship,’ given London acts as the main portal for much of Guernsey’s business. 

Messaging: What we say and what we hear 

Across private client-focused events, the consistent themes of Guernsey’s appeal are clear: 

  • A robust, well-regulated jurisdiction with a 60-year track record. 

  • Specialist expertise in cross-border planning, asset protection, and succession strategies. 

  • A standout MoneyVal review, reinforcing confidence in our regulatory environment. 

From the US, there’s a clear interest in Guernsey’s capabilities across Private Investment Funds, as well as Foundations and bespoke structures for complex families with multi-jurisdictional assets. 

And for Funds - Why Guernsey? 

At recent events such as the SuperReturn North America Conference in Miami held last month, conversations with industry professionals reinforced Guernsey’s unique position as a top-tier fund domicile: 

  • Ideal for small to mid-size managers raising European capital for the first time—particularly in PE, VC, credit, infrastructure, and real estate. 

  • Attractive for larger managers who have faced challenges with jurisdictions like Luxembourg and Dublin. 

  • Faster time to market – once a fund administrator onboards a client, funds can launch in as little as 24 hours under certain conditions. 

  • Cost-effective – Independent Corvus research indicates that Guernsey-domiciled funds cost up to €3 million less over their lifecycle than equivalent EU structures. 

  • NPPR Advantage – Proskauer research shows over 97% of funds raise in three countries or fewer. Guernsey’s National Private Placement Regime (NPPR) allows efficient access to key European capital markets covering more than 70% of EU GDP. 

  • Leading in VC – In 2022-23, twice as many VC funds raised were in Guernsey compared to the next most popular jurisdiction in Europe.

  • Market credibility - Guernsey remains the #1 jurisdiction for non-UK companies listing in London (LSE & AIM), while also supporting listings on Euronext, NYSE, TISE, and more. The recent acquisition of The International Stock Exchange (TISE) by the Miami Stock Exchange has cemented Guernsey’s role as a transatlantic financial bridge. TISE’s focus on sustainable finance and niche bond markets offers strategic expansion potential, aligning well with Miami’s global ambitions and Guernsey’s regulatory clarity. 

Additionally, Guernsey has seen growing interest in Continuation Funds, SPVs, secondary transactions, and innovative SPC structures for emerging managers and alternative asset classes. 

Momentum 

We have built momentum here again in the US this quarter with more than 100 meetings, 10 events attended and more than 35 introductions to Guernsey’s industry.  

Guernsey remains the #1 jurisdiction for non-UK companies listing in London (LSE & AIM), while also supporting listings on Euronext, NYSE, TISE, and more. Huge access to capital. 

2025 is set to be a pivotal year for Guernsey Finance in the US. I look forward to continuing collaboration across our ecosystem—leveraging the strengths of our digital, comms, technical, and strategic teams, while encouraging greater industry involvement in both our roadshows and conferences. 

Join me—on the road, on the calls, on the mission - or go direct yourself and I will look to help you. 

Let’s ensure Guernsey remains first among equals. 

À la perchoine — and have a nice day now! 

alt

Jonny Gamble

United States Business Development Representative
Guernsey Finance

Jonathan joined Guernsey Finance in 2022 as the US representative, where he spends about four months of the year, primarily in New York and Miami. His role looks to connect intermediaries from the US (and Latam) to relevant contacts on-island. He attends various conferences and seminars, organises roadshows with Guernsey delegates, as well as attending individual meetings.

He is an independent consultant and non-executive director, working with a number of firms in the fiduciary and wealth management industry. Prior to this appointment, he worked at Asset Risk Consultants (‘ARC’) for more than 20 years, in a number of director roles. Jonathan holds both the fellow and chartered wealth manager designations from the Chartered Institute for Securities & Investment as well as a qualified member of the Society of Trust and Estate Practitioners (STEP). Amongst other roles, he is a STEP Guernsey Committee member and is a trustee of the Elizabeth College Foundation, and has held a number of listed and non-listed non-executive positions.