Equiom Guernsey: In pole position for growth
Wednesday 31 October 2018
Mark Corradine (Interim Managing Director), Nick Moss (Director) and Roddy Balfour (Business Development Consultant) at Equiom Guernsey discuss their recent Acquisition International award win for Best International Trust Company.
1. First of all, how did it feel to have been given your award? What do you believe are the reasons behind your success and how have you showcased your win since?
Mark Corradine (MC): It’s always an honour to be recognised in prestigious awards such as these. Over the years, Equiom Group has received more than 40 accolades for being a leader in its field. Equiom Guernsey has helped to contribute to this by continually strengthening our service offering and building on our expertise.
In 2017, we acquired Virtus Trust Group in Guernsey. This gave us a stronger presence in the region as well as a competitive advantage thanks to the US trustee licence Virtus hold.
Since being named Best International Trust Company, we’ve been delighted by the reaction from our industry peers. It also gives me personally a great sense of pride to be an international business with firm roots right here in Guernsey.
2. How do you believe industry awards help firms such as yours to thrive and prosper?
Roddy Balfour (RB): Receiving credible awards really strengthens our reputation as a leading professional services provider and gives us the platform to stand head and shoulders above others. When it comes to winning new business, clients are always reassured to know we are recognised by renowned award bodies.
3. Talk us through your company and the services you offer to clients.
Nick Moss (NM): Equiom is constantly reviewing and improving our offerings to ensure we meet clients’ evolving needs. We believe it is this flexibility, combined with multi-jurisdictional reach and our deep understanding of the fiduciary market that has enabled us to expand beyond trusts, foundations and corporate services. It has allowed us to introduce sought-after specialist services including real estate, yachting and crewing solutions, employee incentive schemes and international pension planning.
For example, a member of our team is one of only 48 people worldwide to hold a STEP Certificate in Foundations. This qualification allows us to grow Equiom Guernsey as a centre of excellence for foundations.
Earlier this year we were proud to launch Equiom Private Office, a new premium service designed to meet the ever-changing needs of ultra high net worth individuals. Both Roddy Balfour and I are part of the Private Office team and are easily able to tap into expertise in a variety of fields while also providing a greater choice of jurisdiction and services to clients.
4. What is your firm’s overall mission and what steps do you take to achieve this? How do you work to build upon your success with every project you undertake and every client you work with?
MC: Our ultimate aim is to become the premier professional services provider in each of the jurisdictions in which we operate.
In Guernsey, our strategy is to strengthen our partnerships with clients and intermediaries across the globe, ultimately attracting more business to the Island. We have made considerable progress over the past year, acquiring new talent both locally and through our global network of experts. With in-house legal expertise as well as many years of experience in administering complex, multi-jurisdictional structures, we are able to deliver optimal solutions to clients in even the most complex of situations. Of course, access to the US market is also a key differentiator.
5. What sets your firm apart from your competitors and marks you out as the best possible option for your clients?
RB: We excel in our specialist areas due to a deep and sector relevant understanding of current legislation and effective structuring solutions. This has resulted in a now long-standing reputation for expertise and professionalism throughout the Equiom group. Our growing international presence, range of services and our ability to partner with the leading experts in each region gives us, we believe, a clear advantage over our competitors.
6. Please give me a brief overview of your industry in your country or region currently. Are there any specific challenges or outside influences affecting it and how do you adapt around these?
MC: Guernsey is well-regulated and offers political and economic stability with a comprehensive professional support network and excellent business and communications infrastructures. As a jurisdiction, it has expertise in a range of niche financial services areas, owing to its mature system of licensed banks, advocates, investment, insurance and fund managers.
With ever changing legislation, Equiom Guernsey, like all other financial services businesses needs to be quick to adapt. With GDPR having recently come into effect and Brexit soon to occur, there are without doubt challenges in the future. However, these measures also provide opportunities for nimble, outwardly focused and international businesses such as Equiom to thrive.
7. With regards to the future, how do you intend to make the most of your success and grow even further?
NM: At a pivotal time for the financial services industry as a whole, we will be looking at new opportunities to expand the business locally, including adding new service lines or expertise. By diversifying our offering, we are more able to handle political as well as regulatory developments. With diverse expertise and a US trust facility, Equiom Guernsey is in pole position for growth.
8. Following your win, what feedback did you receive from customers and how did you capitalise on your success?
RB: As with all award wins, our clients get a certain sense of reassurance to know that our services have been independently validated. Award wins contribute to the pillars of success in becoming a leading firm in your field. I believe that by living by an ethos of building trust and strong relationships, embracing cultural diversity and learning from one another, great things can be accomplished.
9. Do you have anything you would like to add?
MC: As a leading local business Equiom Guernsey is always looking to contribute to the local community and consequently provides significant sponsorship and charitable donations each year, including from its staff. This maintains the ethos of the Equiom family as being aligned with island life and giving back to the community of which it continues to be a part.
Meet the Equiom Guernsey Team
Learn more about Equiom's Trust Services