After an exceptional 18 months of growth including new offices in Monaco and Dubai, the Enness team is delighted to be expanding further with the launch of a new presence on the island of Jersey. This office will be headed by Mike Gray, who has lived on the island for over a decade and has an exceptional C.V. spanning the financial service industry. We sat down with Mike to find out more about his history, in addition to his thoughts on why the time is right for Enness to move to Jersey.
We’re delighted to have you joining us—could you tell us about your background, and how this pertains to your role in Jersey?
I’ve had experience in several different key areas over the last 31 years. This includes working as a banker, dealing with ultra-high net worth individuals, family offices, and funds. I also spent a spell as an auditor, and am a qualified corporate treasurer.
I currently lead a plural life; I advise private offices on deals, serve as a non-executive director on both a FTSE250 and FTSE350 company, sit on the investment board for a Swedish private equity group and the advisory board for a Japanese private equity group. I also sit on the board for Jersey Finance. Jersey Finance is a not-for-profit organisation which promotes Jersey as an international financial centre (IFC) of excellence. This is a fantastic organisation, highly focused on developing a better, more certain future for businesses, investors and the finance industry as a whole.
How did you end up in Jersey?
Moving to Jersey was a natural step in the trajectory of my career. I had cross-jurisdictional responsibility for RBS Group’s offshore corporate bank and was also Chairman of RBS Funds. It was the process of corporatising the offshore bank with 250 direct staff and 1500 other employees which led me to Jersey. I had responsibility for the jurisdictional heads in Jersey, Guernsey, Gibraltar and the Isle of Man.
I’ve successfully built the business over the last decade, and have resided on the island for nigh on 13 years now with full residential status. It’s a wonderful place to live, work and do business.
How were you introduced to Enness?
I was introduced to Islay and Hugh by Smith and Williamson, for whom I have great respect as wealth managers. Over recent months, I’ve had the opportunity to witness the quality and professionalism of Enness’ approach, in addition to meeting a number of the team in London. I’m therefore very excited to develop this opportunity, bringing with it as it does a tremendous scope for growth and new relationships.
Why is now a good time for Enness to solidify a physical presence in Jersey?
I think it’s a very well timed and sensible move for Enness to set up a real presence in Jersey. Ultimately, I think this will allow those operating on or through Jersey to be offered more diversification in funding sources, as commercial banks locally have less appetite ahead of the ring fencing of banks in May 2019. Enness provides additional choice for complex international investors, so Enness’ wealth of experience in this arena will be much welcomed.
How will you be supporting this growth?
There is unrealised potential in this market place. And given the local connections and relationships I have both here and in the British Overseas Territories and Crown Dependencies, I believe I’m ideally placed to help Enness navigate these markets through Jersey.