Thursday, April 18, 2024

203 Lyndon Trott
Chief Minister - Guernsey

The Chief Minister of Guernsey, elected until 2012, personally acts as the UK Crown Dependency's financial centre ambassador globally, both on a promotional basis, and in negotiations, for example in May 2010 with leading US legislators and tax officials in Washington. Trott, with a financial services background in treasury and in Guinness Mahon bank (now Investec) has had to negotiate the island's case with irate depositors from the failed Landsbanki branch in Guernsey, which left 1,600 depositors facing uncertainty regarding the future of �117 million in deposits. The amount, which is smaller than IOM's �870 million loss in Landsbanki, was not subject to depositor protection insurance, and a key consideration in a future for IFC deposits in a post credit crisis era which attempts to negotiate a future while minimising moral hazard.