Jersey Finance cues up to offer European gateway for US fund managers.

Ahead of plans to open a New York City office, Jersey Finance is bringing in hedge fund specialist Philip Pirecki to head up US business development. The investment firm is aiming to increase visibility in the important financial hub and promote Jersey as a European gateway for US fund managers.

US institutional investors are looking “acutely” at European opportunities but are also “cautious because of the complex European regulatory landscape,” Pirecki said of the Channel Island firm’s decision to leverage its position outside of the EU and offer a range of structures - including the Jersey Private Fund, to US institutional investors - which it sees as a bourgeoning market. According to research group Monterey Insight's 2018 report on Jersey funds, US-related assets under administration on the island have increased by 148 per cent over the past five years.

As reported by this publication, Joe Moynihan took over as chief executive of Jersey Finance in January this year, coming from a strong background in European regulation and fund mangement. Moynihan said the financial services firm set a clear vision at the start of the year to expand its overseas proposition. "Developing our footprint in the US is a key part of that," he said, adding that Pirecki's role is vital in the US, where the firm is already seeing "traction" among fund managers looking for a reliable platform to support their European strategies.

Pirecki is a former partner and director at London-based independent investment advisory firm Silver Sail Advisors. Prior to that, he was a partner and COO at London hedge fund group Silverstone Capital. The firm said the New York office will open on the Avenue of the Americas at a launch event later this year.