Guernsey’s accounting industry sees growth prospects

Channel Islands: Surviving and thriving (supplement August 2010)

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In plush new offices with the ubiquitous Guernsey view of the sea, Ernst & Young (E&Y) partner Michael Bane is reflective about how the hedge fund audit and accountancy business has been going over the past 12 months.

“The last calendar year was a slow and difficult time for pretty much everybody in the industry,” Bane says. He notes that any transaction activity for companies such as E&Y consisted of restructuring work, share reissuing and advising clients on de-leveraging.

“That kept our busines

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