Citywealth Leaders List interview: 60 seconds with Joe Moynihan, Jersey Finance
This week’s 60-second piece is dedicated to Joe Moynihan, CEO of Jersey Finance. As CEO of Jersey Finance, he leads the island’s financial services industry representative and promotional body, working closely with government, the regulator and member firms to maintain Jersey’s position as a leading international finance centre. With a global network spanning Hong Kong, Singapore, the GCC, South Africa, the US and London, he oversees market development, advocacy and thought leadership that keep Jersey’s legislation, products and services aligned with the evolving needs of international investors and advisers. Known for his calm, credible and consistent leadership style, he focuses on clear strategy, strong stakeholder relationships and supporting teams in Jersey and in region to showcase the island’s long term stability, expertise and quality.
Tell Citywealth readers a bit about your role.
I am the CEO of Jersey Finance, the financial services industry representative and promotional body for Jersey’s international finance centre (IFC). We work with the Government of Jersey, the Jersey Financial Services Commission (the regulator), and our industry to ensure we have an attractive environment for providing high-quality international financial services to a global client base.
Jersey Finance has representation in Hong Kong, Singapore, GCC, South Africa, US and London. Through our in region market development directors, with the support of our central marketing and events team, we raise the profile of Jersey as an IFC with key advisors and intermediaries ensuring they understand our proposition for their clients. The team also provides a platform for Jersey firms visiting the regions to network and profile their own services and establish relationships.
What does a typical day look like for you?
I know this sounds like a cliché, but no two days are the same. If I am in the office, it normally starts with a cup of tea and a review of emails, diary and outstanding matters with my excellent Executive Support. The diary will normally include meetings with members of the Leadership Team and member firms. There are regular meetings with the government and regulator, both formal and informal, often with the heads of the various trade associations who represent the different sectors in the financial services industry.
When I am travelling, it is normally to meet with key stakeholders, support the teams in-region and speak at events and meetings.
Tell us about some recent, interesting client instructions/requests you have received.
This question is not strictly relevant, as our customer is the Island of Jersey and we respond to requests from the government, industry and regulator. Our role is often one of facilitator assisting government and regulator with policy preparation and implementation.
Equally, we assist in the development of existing and innovative legislation to ensure our product and service offering remains relevant to the changing demands of our global client base. These opportunities are usually a result of our close relationship with industry practitioners and our own horizon scanning, which provides insights into market and industry trends that require a response.
What challenges do your clients face and how are you helping your clients to overcome them?
As an industry, Jersey’s financial services business is constantly evolving to meet the needs of our global clients. As the world is currently experiencing a polycrisis, priorities for many are changing. Jersey’s long-term stability, independent judiciary, good-quality legislation and depth and breadth of experience across the industry are qualities much in demand.
What do you consider to be the most important attributes for a leader?
I think credibility and consistency are very important. A leader should be clear on the vision and objectives as clarity is essential for success. The ability to deal with an ever-changing environment in a calm and reassuring manner delivers confidence to the team. I also believe a good leadership attribute is to ‘lead by example’. I think this is critically important for setting the tone and values of the business.
It is important to allow people the opportunity to thrive at all levels of the business and provide the necessary support as required. A team’s success is delivered by the team effort; it is not about one person. I believe people should be given credit where deserved and success should be celebrated.
Who do you most admire and why?
I have been really lucky to work with some fantastic people throughout my career. One person I have had great admiration for was the late Colin Powell. Colin is often regarded as the architect of Jersey’s finance industry. As a banker on the island I got to know Colin over the years as an excellent after dinner speaker who could bring great clarity to complex issues.
I had the pleasure of working closely with him in government for almost four years. He had deep insights into international trends and had the vision to guide political thinking in the island to ensure the optimal strategic decisions. Colin was a trusted advisor to many because of his insightful thinking, his calm approach and his vast experience.
For all of these attributes, Colin remained a modest man with a great sense of humour. He was generous with his advice and time, giving to several charities.
I admired all of these attributes.
Where was the last place you travelled to for work or pleasure?
The last place I travelled to was Dubai in November. Jersey Finance was a Gold sponsor of STEP Arabia, which was an excellent event, very well attended and with some superb panellists and speakers.
Jersey Finance also hosted its annual private wealth conference that week, which was well attended by key locally based finance professionals and a number of visiting Jersey Finance member firms.
The visit also provided me with the opportunity to meet my colleagues in our DIFC hub. The team covers all of the GCC and Kenya.
I also met a number of key stakeholders during my visit. I was honoured to be invited to the ‘Boardroom by EMIR’ annual conference.
If you weren’t in this industry, what else might you be doing?
I honestly do not know. I have been in the financial services industry for over 40 years, so it’s probably too late to consider a career change. I really enjoy what I do, working with a great team internally and amazing stakeholders inside and outside of Jersey.
How do you relax after a long day?
That depends on the time of year and the weather. Living in such a beautiful place as Jersey, it’s difficult to beat a nice long walk along one of our many delightful beaches with my wife. Fresh, clean air and good company relieves any stress from the day.
Key Takeaways
- Joe Moynihan is the CEO of Jersey Finance, promoting Jersey as an international finance centre (IFC).
- Jersey Finance collaborates with the government and regulator to maintain an attractive environment for global clients.
- Moynihan believes in credibility, clarity, and leading by example as key attributes for effective leadership.
- He admires the late Colin Powell for his insight, calm approach, and charitable contributions to the finance industry.
- Moynihan enjoys relaxing with long beach walks in Jersey with his wife after a busy day.
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