Local Substance and Regulatory Solution for Global Client

The Client

A major global financial institution with an array of alternative investment funds domiciled in Jersey.

The Challenge

The financial institution decided to restructure its operations. One aspect of this involved the closure of its Jersey office, which had historically provided a range of management and governance services to the institution’s onshore management company. The main implication of this decision was that the institution would need to appoint a regulated entity to manage the activities previously undertaken by its Jersey office in order to meet its regulatory and substance requirements.

Solution

As a regulated entity, the Aztec Group was well placed to support by establishing and operating a management company for the institution and thereby helping it meet its Jersey legal and regulatory requirements. The services typically delivered under this scenario are referred to as Manager of Managed Entity services and generally include the provision of directors, company secretarial, administrative support and accounting services. The provision of services can also extend to supporting investment managers who wish to relocate senior executives to Jersey.

Results

By entrusting local regulatory and substance matters to an experienced local provider, the institution has been able to better manage its cost base, while a more simplified and streamlined operating model has enabled it to focus on core investment management activities.