The European IFC is raising its profile in the US market.

Jersey Finance, the promotional agency for the European offshore centre, has formally opened its new office in New York as the jurisdiction seeks to enhance its visibility in the US.

The office was launched at an event held at The Peninsula New York, attended by around 100 lawyers, intermediaries and other US fund professionals, who heard from Senator Ian Gorst, Minister for External Relations for the Government of Jersey, and Joe Moynihan, CEO of Jersey Finance, about Jersey’s growing ties with the US.

The launch came after Jersey Finance announced the appointment in July of Philip Pirecki as its business development lead in the US. Pirecki has more than 20 years of professional experience spanning investment banking, investment management, consulting, auditing and accounting, with a particularly deep knowledge of the hedge fund sector. The new office is located at Jersey Finance Limited, Suite 341, 1185 Avenue of the Americas, New York.

The arrival of such a presence is a reminder of how offshore centres compete for business internationally, even though the environment for these hubs has arguably turned more difficult in recent years. This news service recently held a breakfast briefing alongside practitioners and the government of the Bahamas.