Guernsey strengthened its ties with the UK as Miles Celic OBE, Chief Executive Officer of TheCityUK, recently visited the island.
The symbiotic relationship between the Channel Islands and the UK was central to discussions throughout the visit, with Mr Celic meeting representatives from across Guernsey’s financial services industry.
Guernsey currently channels £58 billion of international capital investment into the UK, with a further £23 billion projected. Around 40% of FTSE 100 companies have a Guernsey-domiciled captive, saving UK businesses almost £100 million. The island oversees more than £1 trillion in the investment sector and plays a key role in enabling capital to flow efficiently into cities and sectors across the UK economy.
Discussions also reflected on a Channel Islands-focused paper being developed by TheCityUK in collaboration with Guernsey Finance and Jersey Finance. The report examines the islands’ contribution to UK growth and investment demonstrating the strength of the long-standing partnership between the jurisdictions.
Miles Celic OBE said: “Guernsey is a vital part of the British family and a valued partner in supporting UK growth. Strengthening collaboration between leading financial centres is essential to ensuring the UK remains globally competitive. It was great to meet leaders in Guernsey’s financial services sector again and together reinforce our shared commitment to driving growth in a way that is sustainable, innovative and enables prosperity in both Guernsey and across the UK.”
Jo Peacegood, Chair of Guernsey International Business Association (GIBA), said: “It was great to welcome TheCityUK to Guernsey to explore how our island can continue to support the UK economy and what 2026 and beyond look like. This work highlights the important role Guernsey plays in supporting international business and strengthening the UK’s economic future.”
During his visit, Mr Celic met representatives from local associations, including the Guernsey International Business Association (GIBA), and The International Stock Exchange and to discuss how Guernsey and the UK can continue working together to support economic resilience.
Mr Celic also attended the Guernsey launch of TheCityUK’s report with PwC, which sets out a roadmap to secure future growth and competitiveness for the UK’s financial and related professional services industry.
Barnaby Molloy, Chief Executive of Guernsey Finance, added: “As global competition intensifies, it is vital that the UK and Channel Islands present a coherent, competitive offering to international investors. Our partnership with TheCityUK helps ensure Guernsey continues to support UK growth whilst maintaining the highest international standards.”
TheCityUK’s report with the Channel Islands presents opportunities for to explore further areas of collaboration in supporting UK economic growth and reinforcing their shared international profile. Read the full paper here: The Channel Islands’ contribution to UK growth and investment | TheCityUK
