FinanceMalta, the public-private partnership set up to promote Malta’s financial services sector, represented Malta’s International Financial Centre last week at the 27th Transcontinental Trusts Conference 2012. This Geneva conference is widely regarded as one of the most prestigious in the trust industry with over 150 delegates from 10 jurisdictions attending this crucial industry event. The Trans Trust conference has, for the last four years, been an unrivalled opportunity for FinanceMalta to network with peers and further Malta’s growing jurisdictional reputation in this sector amongst so many influential participants.
Over 30 speakers delivered presentations in the two-day event, including a panel presentation to delegates by Malcolm Becker, CEO of Bentley Reid Trust in Malta, who described the audience as highly motivated to learn more about Malta: “Our presentation focused on the relocation of various structures to Malta, both in the corporate as well as in the trusts and other fields, and highlighted the benefits associated with Malta as a leading onshore European financial services centre.”
The Transcontinental Trusts Conference discussed the current issues faced by trustees on new regulation from Europe and beyond. Sessions covered a variety of critical topics and new approaches, as well as an update on recent cases. This year, eight separate Breakfast Briefings were conducted during the course of the conference with topics ranging from asset protection to residence and citizenship. The conference itself rotated around five key themes:
• Key Issues Facing Trusts & Trustees
• Focus on Trust Companies.
• Focus on Switzerland
• Overview of Jurisdictions
• Small IFCs in the Spotlight.
The Small IFC Session included: IFCs & the EU in which the Malta delegation took part, to communicate new business opportunities for Malta’s practitioners and the industry’s increasing potential for growth as part of Malta’s growing financial services jurisdiction. Financial services is one of the key pillars of the Maltese economy along with tourism, manufacturing and business services, providing over €1 billion of revenue to the economy. Malta is a financial gateway to Europe. Its finance industry offers a number of attractions including a stable economy, liquid markets, skilled workforce, cost-efficient business infrastructure, and advanced IT support.
Malta’s financial services industry maintains a highly responsible approach to ensure its many provider firms remain safe and transparent. This highly responsible approach is having a knock-on effect with young people, particularly students, who are now choosing a career in financial services in larger numbers than ever before.
The Transcontinental Trusts Conference has, for the last 27 years, provided professionals in this industry with the latest information tools and industry trends for the more effective formulation of strategy and implementation to ensure a more rapid development of the trust industry. For further information visit www.financemalta.org