Bank Aston to be first locally licensed Guernsey bank in 30 years
Bank Aston positions itself as a specialist provider for offshore trustees, investment funds, and family offices, which are key sectors in the Channel Islands' financial services industry.
The firm is hoping to reinvigorate the offshore sector, which has £800bn in assets under management and £250bn in bank deposits in the Channel Islands alone.
Guernsey Financial Services Commission (GFSC) has granted it 'Licensed with Conditions,' which is subject to conditions during Bank Aston's launch phase.
The bank will begin accepting institutional deposits and roll out its complete range of services once fully licensed. Guernsey's last locally-based bank ceased trading in 1996.
James Bennett, co-founder of Bank Aston, said: 'Banking is becoming a huge problem for offshore institutions.
'They face increasingly slow approvals, poor customer services and eye-watering fees with decisions being taken remotely by legacy banks whose risk appetite is steadily declining.'
Bank Aston said it would streamline the onboarding and service delivery process through leveraging advanced technology. The firm added its deep knowledge of the offshore market would allow it to service consumers 'more quickly and competitively than is currently the case'.
Brown has 40 years' experience including stints at the Financial Conduct Authority, Payment Systems Regulator and Bank of England.
He is also a board member and founding investor of fintechs OneiD and Form3.
Co-founder Jay Goss said: 'Few people realise the seriousness of the situation. The difficulties with onboarding and running accounts is starting to impact the whole industry.
'But there is an opportunity as well. We see Bank Aston as a commitment to Guernsey's future and to ensuring the island remains relevant, resilient and ambitious on the global financial map.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 minutes ago
- Yahoo
Evolution Credit Partners Welcomes Scott Barek as Managing Director, Expanding the Firm's Structured Credit Capabilities
BOSTON & NEW YORK, August 05, 2025--(BUSINESS WIRE)--Evolution Credit Partners Management, LLC ("Evolution"), a leading alternative credit investment manager, today announced that Scott Barek has joined the firm as Managing Director. Based in the New York office, Mr. Barek will lead structured credit investments and support the firm's continued efforts to deliver differentiated, risk-managed solutions to institutional investors. Mr. Barek joins Evolution with more than 25 years of experience in structured credit markets. Most recently, he served as Managing Director and Desk Head of US Structured Funding Trading at BofA Securities, where he led a trading team focused on complex fixed income funding transactions for banks, insurance companies, pensions, private equity firms, and hedge funds. "Scott's depth of expertise in structured credit markets and disciplined investment approach makes him a strong fit for our platform and our partners," said Rene Canezin, Founder and Managing Partner of Evolution. "He adds strength to our growing team while helping to expand the firm's capabilities in this important segment of the market." Mr. Barek's prior roles included senior positions in structured credit and solutions at Nomura Securities, Barclays Capital, and Lehman Brothers. He began his career in CDO structuring at Lehman Brothers and holds a BS in Industrial Management and Economics from Carnegie Mellon University. Mr. Barek is Series 24, 7, 63, and 57 licensed. The appointment reflects Evolution's ongoing investment in the growth of its team and its strategic suite of products. About Evolution Credit Partners Management Evolution Credit Partners Management, headquartered in Boston, Massachusetts with an office in New York, New York, manages approximately $4 billion across a range of leveraged finance and working capital finance strategies. Founded in 2018 after spinning out from Harvard Management Company, Evolution's credit platform provides bespoke financing solutions across the credit spectrum. For more information, please visit or contact ir@ View source version on Contacts Erika RogersGregory FCAerogers@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 minutes ago
- Yahoo
UK EVs buck the trend as used car prices hold firm in July: Percayso
The UK used car market maintained steady momentum through July despite the summer holiday lull, according to the latest monthly market analysis from automotive data intelligence firm, Percayso Vehicle Intelligence (PVI). Retail values for three-year-old vehicles dipped just 0.6% in July, a sign of sustained demand in a typically slower season. PVI noted that electric vehicles (EVs) stood out for their resilience, recording the smallest decline in average retail values — down only 0.3%. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You In some cases, values even increased. 'Electric vehicles have been the strongest performing fuel type with regard to retail price changes,' said automotive expert Derren Martin, citing strong consumer confidence and the influence of the newly announced government grant for new EVs. One-year-old EVs were the only category to show value appreciation, up 0.4% on average. Among standout performers, the Nissan Leaf, Audi Q4 E-Tron, and MG ZS EV all posted price increases month-on-month. Stock levels for three-year-old vehicles climbed to their highest point of the year, up 2.25% compared to June, although total advertised volumes across all ages slipped by 0.6%. 'July has proved to be another stable month in the used car market,' Martin added. Diesel vehicles fared worst in July, with average prices falling 1.75%, despite relatively low stock levels. Hybrids and petrol cars posted modest declines of 0.5% and 0.6% respectively. Land Rover was a brand standout, with average prices for three-year-old models rising 1.8%. Mini and Nissan also showed strong value retention. In contrast, Audi, Kia, and Mercedes-Benz experienced the steepest declines, with average values falling between 1% and 1.5%. SUVs remained the most advertised body type, representing 53% of listings, though they dipped 0.5% in value. Small hatchbacks continued to perform well, with prices easing just 0.2% due to solid demand and limited supply. Estate cars and MPVs recorded the biggest price drops at around 1.5%. Consumer demand for affordability remained evident, with vehicles priced between £5,000 and £10,000 seeing slight price increases. The most popular mileage bands for three-year-old cars were evenly split between 20,000–30,000 and 30,000–40,000 miles. Among dealer types, car supermarkets adjusted prices the least, averaging a 0.4% drop. Independent dealers made the largest downward moves at 1.5%, while franchise dealers posted a 0.6% reduction. Looking ahead, Martin said: 'Battery electric vehicles are certainly one to keep an eye on… Increased consumer interest in used EVs may counter-balance any impact of reductions of new prices on the used car market.' However, he cautioned that used EV pricing is likely to remain 'particularly nuanced over the coming months,' and that 'attention to detail on pricing is vital.' "UK EVs buck the trend as used car prices hold firm in July: Percayso" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
6 minutes ago
- Yahoo
Hein Grobler joins Bibby Asset Finance as Senior BDM
Bibby Financial Services' (BFS) Asset Finance division, Bibby Asset Finance (BAF), has announced the appointment of Hein Grobler as Senior Business Development Manager for the Vendor channel, as it looks to grow its support for UK SMEs. Grobler joins BAF with 28 years of experience in the banking and financial services industry, bringing a wealth of expertise in asset-based finance and working capital solutions. In his new role, Grobler will focus on enhancing vendor finance programmes, fostering strategic partnerships, and expanding BAF's market presence. In his sales leadership role at leading South African bank, Merchant West, Grober increased the company's asset finance portfolio by 32 percent and launched innovative financing solutions, including a supplier quotation tool and specialised funding for veterinary practices. Commenting on the appointment, Derek Ryan, Managing Director at BFS UK: 'We're delighted to welcome Hein to the team. His significant experience in the Asset Finance space makes him well placed to lead the next stage of growth of the vendor channel for Bibby Asset Finance. More than ever, UK SMEs need support in unlocking working capital to operate efficiently and grow. We look forward to the energy, insight, and innovation Hein will bring to Vendor Finance.' Hein Grobler, Senior Business Development Manager at BAF added: 'I'm thrilled to join BFS and to lead BAF's Vendor Finance initiatives. With a strong foundation in driving channel growth and building successful client partnerships, I look forward to providing solutions that deliver real value to our customers and sustainable growth for the business.' "Hein Grobler joins Bibby Asset Finance as Senior BDM" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
