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KPMG Conference Highlights Growth Opportunities for the Channel Islands

Posted: Wednesday 17 June 2015

The annual KPMG Islands Group (KIG) Conference was hosted in Jersey for the first time in its history. The 85 strong delegation came to the Island to …

The annual KPMG Islands Group (KIG) Conference was hosted in Jersey for the first time in its history. The 85 strong delegation came to the Island to debate cross jurisdictional issues, including tax systems, transparency, disruptive forces affecting KPMG and its clients, and the future for global markets generally.

The symposium took place from 17th to 20th May at The Radisson Hotel and brought together KPMG country leaders, partners and directors from across the KPMG Islands Group. Presentations were made by representatives who travelled from as far afield as Bermuda and The Bahamas, as well as global heads from around the KPMG network.

The conference enjoyed informative presentations from senior global leaders from the KPMG network such as Tony Thompson (EMA CEO), Alwin Magimay (UK Head of Digital), Jane McCormick (EMA Head of Tax), David Conder (Global People, Performance & Change), Leif Zierz (Global Head of Deal Advisory) and Isabelle Allen (Global Head of Markets).

The agenda also featured a number of external speakers such as Jersey’s Chief Minister Ian Gorst, Senator Philip Ozouf (Assistant Chief Minister with responsibility for Financial Services, Digital, Innovation and Competition) and Guernsey’s Treasury & Resources Minister Gavin St Pier.

The Chief Minister’s speech opened the conference and kick started the debate on how island economies deal with the fiscal challenges they face. (http://www.gov.je/News/Speeches/ChiefMinisters/Pages/KPMGConference.aspx)

A thought-provoking debate on the challenges of the digital world was led by KPMG’s UK Head of Digital Alwin Magimay, and Paul Masterton, Chairman of Digital Jersey Limited who were joined on a panel by Jason Laity, Partner, KPMG in the Channel Islands. Paul and Alwin delivered thought leadership on the topic, and a wide ranging debate was held over whether Jersey should be focusing on FinTech, eGaming or eHealth. High growth opportunities and the ambition for Jersey to become a leading FinTech and eHealth centre were identified.

One of the most prominent tax leaders in the UK, KPMG’s Jane McCormick, presented on the second day of the conference. She was particularly vocal on the topics of tax morality and tax transparency, and the need to engage with those who do not look upon jurisdictions such as the Channel Islands favourably. The debate with Senator Ozouf and the Guernsey Treasury Minister highlighted the benefits of such engagement and collaboration around common challenges.

Jason Laity, Managing Partner, KPMG in the Channel Islands, says:

‘We were delighted to welcome our KIG colleagues to Jersey for the first time. We debated a number of key issues affecting jurisdictions such as Jersey, and identified a number of high growth opportunities. In addition, our guests had a brief glimpse of Jersey’s tourism offering and I am sure we will welcome them back again’.

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