In the late 1980s Andrew Lodge, now managing director (Isle of Man and London) of Nedgroup Investments, a fund of funds, was looking for a place to set up an offshore subsidiary for a UK building society. He had a choice of all the UK offshore jurisdictions to locate the business. Lodge chose the Isle of Man.
Lodge has lived on the island with his family for 17 years. He defends his Isle of Man location choice on a number of criteria.
"Yes, it is a lower-cost jurisdiction than the Channel Islands,
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