Guernsey Business Development Manager
01534 756400
jarklie@gmail.com
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Career Highlights
– Clydesdale Bank International (2010-2013)
– Director of Mercator Trust Company Limited (2003-2005)
– Director of Bachmann Trust Company Limited (Now Ardel) (1992-2003)
Background
Educated at Sheffield, Oxford and Cambridge Universities, James has 30 years experience in the local finance industry during which time he worked closely with local, Crown Dependency, Dublin, and European businesses in both the commercial and the finance sectors.
For most of his career James has held positions at senior management and director level with local trust companies and banks where his focus was on marketing and developing new business opportunities across all business sectors.
A member of the IOD
CEO / Founding Shareholder
01534 756400
jeremiah.okeeffe@jcap.co.uk
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Career Highlights
– Gilts Broker- Grenfell and Colegrave, London. (1983-1984)
– Money broker- Kirkland Whittaker Jersey (1984-1985)
– MW Marshalls (1985-1986)
– Gilts Fund Manager- Cater Allen Jersey (1986-1988)
– Derivatives Broker-Harlow Butler Jersey and London (1988-1992)
– ICAP London 1992-2011. Set up multi-currency Short IRS desk 1992
Background
Jerry has spent all of his working life in interest rate related financial roles.
He co-founded JCAP Treasury Services with Carl Corbel in 2009 when they identified, post the financial crisis, that there was demand for a company who could provide specialist treasury services to the corporate and fiduciary sectors.
Having worked in the City of London for most of his career, Jerry returned to Jersey in 2011 to work full time at JCAP.
He is married with two children, a member of the JRFC and a trustee for the Dave Thompson Boxing Trust.
Non-Executive Director / Shareholder
01534 756400
carl.corbel@jcap.co.uk
Career Highlights
– Treasury manager – UBS Jersey 1987 – 1996
– Director and shareholder – TEAM Asset Management 2006 – 2009
Background
Carl has gained more than 30 years experience in the treasury, derivative and investment markets at various financial institutions both here in Jersey and in London.
He has previously managed discretionary investment portfolios for high net worth clients and managed proprietary trading desks.
He specialises in cash deposits structures and the foreign exchange markets
Carl holds the Investment Management Certificate and ACI dealing certificate
Project and Service Manager
01534 756403
jackie.delph@jcap.co.uk
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Career Highlights
– IT Service Quality Manager at Royal Bank of Canada (2007 – 2010)
– IT Service Support Manager at Abacus Financial Services (2005 – 2007)
Background
Jackie joined JCAP in 2010 as Project and Service Manager with many years of experience in the finance industry. Her skills and experience include incident and change management, project and programme management, business and process analysis and IT service management best practice.
Jackie started her career as a Trust and Company Administrator at Abacus Financial Services and went on to form part of the project team tasked with developing Abacus’ core business software encompassing CRM, payments, cash management, pooling, bookkeeping and corporate structures. Jackie became a leader of the Abacus IT Department in her role as IT Service Support Manager, creating a Service Desk and implementing ITIL.
Jackie has achieved a level 5 Chartered Institute of Management Diploma, Prince2, ITIL Service Manager Certification and ITIL v3 Expert Certification.
In addition to a busy career in finance, Jackie is a member of the Ambulance Support Unit (ASU) for the States of Jersey Ambulance Service, qualified in Major Incident Medical Management Support (MIMMS), advanced first aid and biological and chemical decontamination. Should there be a major incident in the island the ASU would play a critical role.
Management Consultant
01534 756405
greg.mcintyre@jcap.co.uk
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Career Highlights
– Island Director / Head of Banking – AIB Jersey 2012-2014
– Head of Business Support Centre – AIB Jersey 2007-2011
Background
Greg is a financial professional with extensive experience in banking, treasury, project management, business restructuring, HR and operations. He has worked in the finance industry for 28 years and held various positions at AIB including Head of Banking, Head of Business Support Centre and most recently Island Director. Prior to leaving AIB Greg had direct responsibility for the Banking, Investments, Credit Services, HR & IT functions in both Jersey and Isle of Man. Greg chaired AIB’s Operational Risk Management Committee and was chairman and director of AIB Jersey Pension Company Limited.
Greg is a fellow of the Chartered Management Institute, associate member of the Chartered Institute of Securities and Investments and qualified PRINCE2 practitioner.
Copyright JCAP Treasury Services Limited 2014
JCAP Treasury Services is registered with the Jersey Financial Services Commission. Registration number 104439
Trident is a premier financial technology company, working with the industry to offer the next solution that enhances client performance. Trident builds solutions that work, empowering you to do more.
Trident has extensive relationships with world leading companies and regulatory bodies, contributing directly to the quality of our products and our overall client satisfaction.
Using our industry knowledge, service-offering know-how and technical capabilities, we bring together ideas and expertise to develop solutions that help clients around the world. www.tridentcms.com
Copyright JCAP Treasury Services Limited 2014
JCAP Treasury Services is registered with the Jersey Financial Services Commission. Registration number 104439
“Once we had decided to adopt cash pooling JCAP worked closely with us to implement the system, provided invaluable advice on how to explain the concept to our clients and continual support while the change was made. A year later we still have very regular communication with them and we have achieved our primary objectives of increased returns for our clients and transparency of charges. The success of the project can be seen by the regular increase of funds into the cash pool. I would definitely recommend them”.
Mike J. Good ACA CDir
Managing Director
Richmond Fiduciary Group
PO Box 374 Richmond House, St Julian’s Avenue,
In early 2011, JTC conducted a detailed analysis of its Treasury Services requirements in which we examined the options of two outsourced providers along with establishing an in house Treasury function. After detailed review and taking into account the circumstances prevailing at the time, it was agreed that we would appoint JCAP Treasury Services due to the expertise and knowledge of their team in Treasury and Project Management.
As an extension to this, we worked closely with both JCAP and Ascent, the providers of bespoke software that underpins the pooling operation, and were very satisfied with the service delivery of all parties in delivering both product and bespoke software that fulfilled our requirements.
JCAP and indeed Ascent continue to work with JTC in developing a Treasury Service and we trust in their ability to assist in the delivery of a regulatory compliant and future proof strategy for our business.”
Nigel Le Quesne
Group CEO & Chairman
JCAP Treasury Services commissioned an independent review by Sator Regulatory Consulting Limited, to examine JCAP’s outsourced treasury services and comment on the procedures and business model.
Sator are a Jersey based company wholly owned by Helen Hatton, who has over twenty years director level experience in offshore financial services regulation and financial crime investigation gained as Head of Enforcement for the Isle of Man Financial Supervision Commission and as Deputy Director General of the Jersey Financial Services Commission.
Following the review, Sator produced a testimonial for JCAP which confirms that both JCAP’s services, and the Trident CMS software that can support the customer pooled account service, are fully compliant with all of the relevant JFSC regulations and do not add to the existing regulatory burden on customers.
Clients can now rest assured that JCAP’s treasury services not only fulfil the current demand in the market place for diversification of risk, transparency and superior returns but also ensure that the regulatory framework is being adhered to.
Should you wish to discuss the testimonial or wish to receive a copy of the full report please do not hesitate to contact us.
An independent medium sized jersey based trust company who provided trustee services, foundations, private trust companies, family limited partnerships and registered office services contacted JCAP in 2010 to discuss the opportunity of engaging with us in order to provide a full suite of treasury services.
Following the financial crisis, the trustees were concerned that the majority of their underlying cash assets were held with one counterparty and were not in a position to easily move the thousands of accounts if there was a repeat of the events that occurred in 2008/2009. The board were looking for a proactive solution and did not want to be conflicted by choosing to manage the cash in-house. Having decided on an outsourced solution, the directors engaged JCAP in order to provide a fully integrated pooled solution, the professional cash management of their cash assets and foreign exchange.
JCAP worked closely with the client and their trust accountancy software provider in order to provide an efficient and transparent solution for aggregating their client cash. Following a successful implementation there was almost 100% take up of the service by clients. JCAP became the trust company’s treasury team and consistently improved yield for their clients while maintaining diversification.
In the provision of the FX service, JCAP transacted foreign exchange trades on behalf of the trustees to ensure that clients were receiving a fair and equitable price while mitigating the market and operational risks associated with foreign exchange.
Whilst the clients benefitted from improved returns, reduced risk and a transparent fee structure, the trust company benefitted from improved efficiencies, lower costs, reduced risk and a sustainable revenue stream.
1 paragraph about the company
JCAP worked in Guernsey during 2013 to set-up the first client pooled account structure at a Guernsey trust company.
Outline the solution provided by JCAP
The client is a well-known City-based wealth management company who offer investment strategies to private clients and companies.
They engaged JCAP to help find solutions for the client monies that form part of their discretionary managed portfolios.
On 1 April 2013 the FCA became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA). The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
On the 1st of June 2014 The Financial Conduct Authority (FCA) issued changes to the client money and custody assets (client assets) rules which govern the management of client’s assets. The rules address lessons learnt from recent insolvencies, feedback from firms themselves and observations from the FCA’s specialist Client Assets Unit.
The changes that were announced specified that client monies must be held in accounts that had instant access (defined as up the 30 days) or in accounts that were breakable deposits.
The wealth manager had limited bank counterparties and the returns they were currently achieving from the management of their client monies were relatively low and getting lower as banks sought to position themselves for the introduction of the Basel 3 rules.
JCAP introduced new counter-parties to the wealth manager who offered significantly higher returns for call accounts and 30 day deposits and notice accounts.
JCAP continue to monitor the rates that the wealth manager is achieving and suggests new counterparties when appropriate. JCAP also keep abreast of the FCA client money rules in CASS 7.
JCAP were contacted by a UK based IFA who had a high-net-worth private client that had recently sold their business and acquired a substantial sum of cash.
The client wanted the cash deposited with 5 A-rated banking institutions with a specific liquidity profile that would allow the IFA to gradually invest some of the client’s cash. Cash management and counterparty risk was not the IFAs area of expertise.
With JCAPs strong relationships with offshore and onshore banks we were quickly able to provide a variety of bespoke cash management proposals that the IFA could take to his client. Once the right choice of counterparties and liquidity was chosen JCAP assisted in the completion of account opening forms and managed the process with all of the banks.
JCAP continued to cash manage the clients cash portfolio, maintaining the required liquidity with a very competitive yield whist monitoring counterparty risk. The client receives regular reports from JCAP showing a full breakdown of his cash portfolio.
The client was an investment boutique offering investment strategies to private clients. They first engaged JCAP in August 2011 to discuss cash management opportunities.
At the time the Investment Manger had been operating for 3 years and was going through a period of rapid growth. They were also developing a new asset management platform which was being rolled out internally. They only held 5% in surplus cash but they were concerned that the cash wasn’t being managed as the core focus was to invest in other asset classes. Any cash awaiting investment was earning zero interest on a custody account.
JCAP had previously only worked with fiduciary companies so providing a solution for an Investment Manager was a change to the existing model. JCAP developed a simple solution for the client that offered daily cash and liquidity management whilst providing a competitive return to both the Investment Manager and their clients.
