Fund sector has a bright future says industry expert

Wed, 27 Jul 2011

Credit Suisse has announced its scaling down IOM business

It's believed the fund sector is still a growth industry for the Island, despite recent bad news that one company is scaling down its business here.

A number of redundancies are feared at Credit Suisse.

The Department of Economic Development and the Fund Management Association are planning a big marketing drive to promote the industry.

Special Advisor John Spellman says the Island has come through the recent global economic problems relatively unscathed.

He says he's not concerned that other companies could follow Credit Suisse.

Mr Spellman says the Island has several specialist niche areas and can compete with other jurisdictions.[Interview with John Spellman below]