Press Release
03 Jul 2024

Lord Mayor of the City of London visits Guernsey

The Rt Hon The Lord Mayor of London Alderman Professor Michael Mainelli met with professionals from Guernsey’s financial services sector on his first official visit to the island.

Professor Mainelli held a number of meetings to discuss Guernsey’s symbiotic relationship with the City of London, the transition to sustainable finance, innovative financing mechanisms, and more.

As well as acting as a spokesman for The City and leading overseas business delegations to key international markets on behalf of the UK financial and professional services industry, the Lord Mayor also heads The City of London Corporation, which is the governing body of the Square Mile dedicated to a vibrant and thriving City.

Guernsey Finance Chief Executive Rupert Pleasant welcomed the Lord Mayor at Guernsey Airport.

“It was a privilege to welcome the Lord Mayor on his first official visit to the island and to have the opportunity to introduce him to key individuals from our own financial services sector. 

“This visit further cements the excellent relationship that Guernsey enjoys with The City of London as Guernsey generates significant value for the United Kingdom economy and is a proud member of the British family,” said Rupert.

During his visit, The Lord Mayor met with Guernsey’s Lieutenant-Governor, Lieutenant General Richard Cripwell CB, CBE, Guernsey’s Chief Minister Deputy Lyndon Trott, The States of Guernsey Head of Public Service Mark de Garis, the Institute of Directors (IoD) Next Gen Committee, and the Sustainable Finance Guernsey Council.

His Excellency the Lt-Governor said: "It has been an absolute pleasure to host the Rt Hon The Lord Mayor of London Alderman Professor Michael Mainelli in Guernsey. The strong ties between our island and the City of London remain of the utmost importance and I am grateful to have been able to showcase what Guernsey has to offer to such an esteemed individual such as the Lord Mayor."

The IoD Next Gen Committee meeting saw the Lord Mayor discuss how his key objectives firmly aligned with those of the next generation of leaders in Guernsey.

Tom Zierer, Chair of The Guernsey branch IoD Next Gen Committee, said: "It was a pleasure for the IoD Next Gen Committee to host The Lord Mayor last week. It was encouraging to know that his priorities in terms of AI, sustainable finance and upskilling by training and networking are equally our own and we look forward to exploring opportunities to connect, collaborate and explore ways to endorse change between the City of London and Guernsey."

The Mayoral Theme for the Lord Mayor’s term is Connect to Prosper, and one of the key focuses sitting under this umbrella is sustainable finance.

The Lord Mayor met with the Sustainable Finance Guernsey Council to discuss the voluntary carbon market, sustainability-linked bonds, regulatory frameworks, government policy, the insurance industry’s role in the biodiversity market, and more.

On the opportunities for collaboration between London and Guernsey in promoting sustainable finance, the Lord Mayor praised Guernsey’s ‘unique strengths’ in areas such as Protected Cell Companies and captive insurance.

He said: “It’s by combining the product sets of Guernsey and the City of London that we’re going to do well.”

Chief Minister Deputy Lyndon Trott agreed it had been a pleasure to welcome the Lord Mayor of the City of London to Guernsey.

“As an international financial services centre we have strong links with the City, and provide significant value to the UK economy through the City.  Our links also help us to grow important new areas where the sector has led globally, such as sustainable finance which helps to provide financing for a wide range of sustainable initiatives worldwide.”