The move by the island's promotional agency for its financial sector comes as IFCs are increasingly looking at the GCC region as a source of clients.

Guernsey Finance, the promotional agency for the island’s financial services industry, has appointed Aaron Russell-Davison as a business development representative in the Middle East. He is based in Dubai.

Russell-Davison, who had a 30-year career in finance and banking, was previously Standard Chartered Bank’s global head of debt capital  markets. Since retiring from that position in 2015, he has worked extensively as a non-executive director, notably at Amana Bank – an Islamic bank – where he also chairs its board integrated risk committee.

“I am committed to applying my industry experience and strong interest in Middle Eastern affairs to enhance the financial ties between Guernsey and its regional counterparts,” he said. 

In his role with Guernsey Finance, Russell-Davison will be aiming to access areas of the Gulf Corporation Council.

The organisation was delighted to welcome him on board: “Aaron’s experience and interest will help strengthen the region’s connection with Guernsey and promote the island’s global status as a safe and secure environment for private wealth. His primary focus for 2023 will be the United Arab Emirates, the Kingdom of Saudi Arabia and Kuwait, where he will look to connect high net worth families looking for family office services with our stable, mature and leading global finance centre,” James Crawford, director of international business development, said.

The move comes at a time when IFCs are targeting the Gulf region for clients. For example, Jersey Finance has had an office in Dubai’s DIFC since 2018. This news service has run a series of articles about the Channel Islands and how companies there are marketing themselves to the wider world.

This news service is continuing to expand its Gulf region coverage. See here for our recent MENA region awards results.