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Opportunity for growth in banking sector

Wed, 22 Oct 2014

There's opportunity for growth in 'higher risk' banking - but it calls for further changes to industry regulation.

That's according to the Economic Development Minister who says there is economic potential following the Vickers Report.

The industry will adjust its operations to split 'high-risk' investment banking from low-risk retail banking by 2018 to protect depositors' money.

The department is now working with the Financial Services Commission to support the Island's move into specialist markets.

Simon Pickering is the head of retail financial services - he says implementing alterations to regulation highlighted in the report isn't an easy process: 

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• Simon Pickering