Guernsey finance firms confident for future, survey finds

The results of the survey showed financial services businesses were largely optimistic

Business leaders in Guernsey's financial services sector are confident for the future, a survey has found.

The survey by Guernsey Finance was sent to local professionals from banks, law firms, accountants, insurance managers, private wealth providers and fund specialists.

Two thirds of respondents had confidence in the sector.

Difficulties with housing and finding staff were identified as the major challenges.

Rupert Pleasant, Guernsey Finance chief executive, said he was "pleased that the results of this survey are largely positive".

"Two thirds of respondents expressed confidence in the future of Guernsey's Financial Services sector, which is fantastic to hear", he said.

Housing was identified as a key social risk by 83% of respondents, while 79% said retention of staff was a major social concern.

Mr Pleasant said: "We know that these issues affect other sectors as well as the financial services sector and left unchecked may eventually negatively impact on the overall health and wellbeing of Guernsey's economy. It is clear that urgent action must be taken to address these issues.

"Overall, this survey provides us with a useful tool from which we can learn and grow, adding our voice to areas in which the island is excelling, as well as areas in which we can improve."

Guernsey Finance is a joint industry and government initiative funded by a levy paid by local finance firms that promotes the island's financial services sector internationally.

Follow BBC Guernsey on Twitter and Facebook. Send your story ideas to [e-mail].