Vision Shopsters: Offshore Financial Services in the Isle of Man

Vision Shopsters: Offshore Financial Services in the Isle of Man

Introduction

With money leaving offshore centers in the billions, understanding the nature of offshore clients and what strategies to employ to attract and retain them has become absolutely critical, not just for offshore bankers but also for their onshore competitors.

Scope

*This report draws on the findings of the Offshore Banks Survey 2010.
*This survey was conducted in February/March 2010 among banks in Jersey, Guernsey, the Isle of Man, Switzerland, Hong Kong and Singapore.

Highlights

Out of all offshore clients by assets under management, 69% are from Western Europe, and 57% of these are from the UK.

The most important reason that British offshore clients choose to bank in the islands is because they get a more personalized service compared with onshore banking.

The average offshore client has 37% of his holdings in cash and near-cash, and this is expected to fall to 32% in two years’ time.

Reasons to Purchase

*Understand the nature of offshore clients in the Isle of Man
*Gain insight into the future needs of offshore clients
*Access strategies for success in the marketplace.

Table Of Contents :

 

OverviewCatalystSummaryMethodologyExecutive SummaryMany of the offshore clients of banks in the islands are British,and they are generally risk-averse individualsOffshore clients are looking for the basics from their banks and are expected to maintain a defensive stance going forwardManx bankers need to focus on brand,image and reputation and defensive products in order to attract and retain offshore clientsTable of ContentsTable of figuresTable of tablesThe Islands’ and the IoM’s Offshore ClientsA significant number of clients of banks in the islands and the IoM are from Western Europe,especially the UKThe three island centers service a very Western European offshore clienteleIoM focus: the IoM has a wide spread of clientsBritons are very important to the island banks,but not uniformly importantIoM focus: the IoM has a much wider spread of clientsHistoric links with Hong Kong make this region particularly important to banks in the islandsIoM focus: Australians are well-represented among the Asia Pacific client segmentOffshore clients are banking on the islands because they get a more personalized service than they would onshoreUK clients that bank n the islands are attracted to the region because they get a more personalized service

To know more about this report & to buy a copy please visit :
http://www.visionshopsters.com/product/4521/Offshore-Financial-Services-in-the-Isle-of-Man.html

 

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