Articles from January 2018

Technological advances have brought down geographical boundaries to the point where many businesses seen no disadvantage in basing their operations offshore – however remote the location. The negative spin is that it’s also made the battle for international business that much more competitive.

Facing the future with confidence: “As the world changes so must we, so much of the work that we have undertaken over the past year has driven us towards increased compliance with international standards.” – Those were the words of Isle of Man Financial Services Authority Chairman, Geoff Karran in the foreword to the authority’s annual report last year.

PDMS welcomed Keith Brown MSP, Scottish Cabinet Secretary for Economy, Jobs and Fair Work, to an event to mark the official opening of the company’s new offices in Academy Park, Glasgow.

Feedback is being sought on legislation aimed at strengthening the Isle of Man’s reputation as a responsible and well-regulated international business centre.

FEATURE: The Isle of Man’s Shipping, Aircraft and Superyacht Registers remain an increasingly important element within its diverse range of professional services to a global clientele. As well as being a valuable source of income they exemplify the Island’s reputation for quality and professionalism, and – quite literally – fly the flag around the world.

This month’s B365 feature puts the spotlight on some of the leading businesses in the recruitment and human resources sector, who are playing an important role in keeping the wheels of commerce turning.

The Isle of Man’s population and the number of people in work continued to grow during the third quarter of 2017, according to a new economic report.

The Isle of Man Government has welcomed the decision from European Finance Ministers not to place the Island on the list of non-cooperative jurisdictions for tax purposes.

Zedra Staff.

It’s a year since fiduciary services business, Zedra, lit up the atrium at St George’s Court, Douglas in celebration of the company’s move to its new base within the impressive Douglas complex. Twelve months on the mood of optimism is as strong as ever after another hugely successful year. 

The story of ZEDRA’s emergence as a powerful player in the global market began two years ago when the company acquired the Barclays Trust Business on the Island. Within a year the move to St George’s Court had been completed, signalling a period of accelerated growth and expansion.

Today the Zedra team in the Isle of Man totals 95- that’s 25 up in just twenty months. Zedra has also expanded from 6 to 14 jurisdictions during the same period, now employing over 500 globally – supported by the offer of an ever-expanding menu of products and services to its growing client base.

For Managing Director, Alan Patrick, a key ingredient in the company’s success to date has been its ability to nurture a happy and supportive working environment: “The team has grown significantly, we are a hardworking team, and a happy team. ZEDRA can now consider itself to be among the leading fiduciary service providers in the world, and one of the leading players in the Isle of Man. Senior team members that have recently joined us include Andrew Wilson – Head of Marine and Aviation, Antony Bell-Scott, Head of Finance and Joanna Bodell, Director.”

Under private ownership, ZEDRA has the flexibility, boldness and expertise to respond to the complex needs of clients, whilst maintaining the highest standards of corporate governance in an ever-evolving regulatory environment.

Alan Patrick added: “In the Isle of Man we are located within a jurisdiction that has proven itself fit for stable growth. We are focusing on helping our clients to ‘do more’, and also on promoting delivery of a ‘hub’ of front and back office support services to group offices in higher cost locations. We see a successful and happy future ahead.”

ZEDRA delivers bespoke solutions to a diverse client-base including high-net worth individuals and their families, international corporations, institutional investors and entrepreneurs.  The company enters 2018 with a clear focus on delivering excellence in all areas and ambitious plans for further growth and expansion.