Guernsey Finance Welcomes Paul Sykes as New Chairman

Leadership Transition

Guernsey Finance, the island's marketing body for its financial services sector, has welcomed Paul Sykes as its new Chairman. Sykes, Managing Director of Aon Guernsey, takes over from Deputy Lyndon Trott OBE, who was Chairman from 2016 to 2025. Sykes, a widely respected figure in the island's financial services community, has more than 35 years' experience and has been in senior leadership positions within Aon at national and regional levels.

Since returning to Guernsey in 2010, Sykes has worked very closely to develop and construct the success of the island's insurance industry, most particularly through such specialisms as captive insurance, Insurance Linked Securities (ILS), and reinsurance. He is also working his most recent appointment as Chair of the Guernsey International Business Association (GIBA), May 2023 to be replaced by Jo Peacegood continuing as a member on the Board of Directors of Guernsey Finance.

Building on Endorsements

Sykes added that he was delighted and proud to be replacing the Chief Minister for the job, stating, "It's a great privilege and a thrilling challenge to be stepping up into our Chief Minister's position as Chair of Guernsey Finance. I join Lyndon in having the same passion for Guernsey, which translates into a mission and purpose to promote and serve the island."

He emphasized the huge potential of Guernsey's financial services industry, noting the recent endorsements from MoneyVal and Standard & Poor's. Such endorsements further reinforce Guernsey's reputation as a secure, stable, and safe business location. Sykes continued, "We have great talent in the sector combined with proven regulatory and legal frameworks. We can complement that with a track record with some of the world's top corporations, global organizations, and government agencies, who have worked with us to create many world firsts and innovative solutions for clients and communities worldwide."

Navigating Volatility and Future Outlook

The global financial markets have been particularly turbulent in 2025, but Sykes believes that Guernsey can adapt. He stated, "The global financial markets have rarely been as volatile as they are in 2025, but Guernsey is flexible and better placed than most jurisdictions to adapt to the new 'multi-aligned world'. We can be a refuge for international investment and a conduit for capital into London and other mature finance centers."

Paul Sykes also possesses a master's in Corporate Governance and is a Chartered Insurer, a Fellow of the Chartered Insurance Institute, and a Chartered Director accredited by the Institute of Directors. Deputy Trott added, "It has been a privilege to have served as Chairman of such a dynamic team for the last nine years. The Board is fortunate to be welcoming Paul as our new Chair, who is both extremely experienced in Guernsey's financial services sector and extremely dedicated to the role."

Guernsey Finance Chief Executive Rupert Pleasant stated, "On behalf of all at Guernsey Finance, I would like to express a huge thank you to Lyndon for his exceptional dedication in leading our agency during the last nine years. His term of office as Chair has been wonderfully productive, with the island's reputation as a first-class international finance center year by year."

Looking to the future, Pleasant is optimistic about Sykes' capacity to take advantage of the firm foundation created by Trott. "I am confident that Paul's experience will enable us to further build Guernsey's hard-won reputation. We will continue to progress, with the advantage of the sound expertise we have developed within our Board, to guide our strategy as we work through the evolving trends and issues within the global financial services sector."