UK-based Seven Investment Management (7IM) has obtained approval from the Jersey Financial Services Commission (JFSC) to launch an office in Jersey.

The new office will be based in St Helier and is slated to launch next week. The firm already has an existing client base on the island, developed since its inception in 2002.

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7IM head of private client Stewart Sanderson said: “This expansion is an exciting part of our evolution and adds a Jersey base to complement our existing offshore offering. It provides a physical presence to help us offer discretionary management alongside our suite of services, including Dublin domiciled active and actively managed passive funds, and an open architecture platform with custody arrangements in Jersey.

“We continue to see strong demand in Jersey for our discretionary investment services and platform. We feel Jersey is an important international centre and a key part of our long term strategic development.”

The new office will be led by Grant Hamilton, who most recently served as a director at Rathbones in Jersey.

“7IM has an exciting cost effective offering, combining discretionary management services and the offshore fund range with innovative platform service, technology and advanced reporting, something that sets us apart from many. We are looking forward to working with trustees, consultants, financial planners, private clients and their advisers who will be able to benefit from our award winning approach,” Hamilton noted.

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Hamilton will be supported by Dominic Pallot and Annie Newman. Pallot previously worked at First Names Group, Barclays Wealth and Abbey National, while Newman most recently worked in the portfolio management business at Merrill Lynch.