Interview with Ashley Jarman, Trust Manager, Clermont Trust Guernsey
Date: 21 June 2024
One word that best describes how you work: Tirelessly
1. Ashley, could you share a challenge you have faced while working in trust management at Clermont Group? And also, could you highlight how has it shaped your approach to this role?
In the past, I was exposed to very few ultra-high net worth, complex client relationships. Whereas, at Clermont I have been responsible for the onboarding of many of these types of clients. With Guernsey’s strict regulations, it has not only heightened my awareness when performing due diligence but also helped me to be more focused and confident when doing so because I used to over-analyse.
2. In your opinion, what are the key trends shaping the future of trust management, and how is Clermont Group adapting to these changes?
One of the main trends is that the world is getting wealthier. I think we have around 2,800 billionaires in the world now. With crypto, artificial intelligence (AI), and fintech, I cannot see that trend reversing anytime soon. These fields and many others, regardless of how you view them, are still emerging at pace. Clermont has a multi-jurisdictional, multi disciplined team that shares in its vast knowledge.
Also, we are making sure that our team can keep up with this changing technological landscape and whatever regulations and legislation that may follow it. It also positions our group advantageously to convert entrepreneurs thriving in these industries into valued clients.
3. Trust management can be complex and multifaceted. Can you explain a common misconception people have about your job and clarify what it really entails?
I live and have grown up in jurisdictions that many perceive to be tax heavens, so already there is a stigma without using the phrase “Trust Management”.
However, you cannot manage wealth effectively if you do not plan for tax and deadlines. So, while it is always a consideration, it is not always the driving factor, and most of my job is as simple as making sure that people feel secure in their financial future, especially where multi-generational wealth is concerned.
4. Given your experience in the Guernsey office, how do you see the role of trust management evolving in offshore financial centres, and what impact does this have on global finance?
I think that for many years Trust Management has been seen as a bit of an “old gentlemen club” with very little useful information available to the public. The internet has changed the outlook of many, and I do think that people globally are becoming more clued up on the various uses of offshore structures. People who are generating wealth in a plethora of industries are starting to inquire about it for their own private wealth management needs.
5. If you could manage a trust for any historical figure or fictional character, who would it be and why? How would you approach their unique trust administration needs?
No-one needed a trust company more than Bruce Wayne. From prime real estate to a tech company and charitable foundations, investment portfolios and cars, boats, motorbikes, and planes all in multiple jurisdictions, the work would be incredibly varied. It could get tricky if or when you find out he is Batman though.
6. Finally, outside of work, what are your passions or interests, and how do they influence your professional life and decision-making in the trust management field?
I have been a performing and competing musician since I was 6 years old. As a result, I am motivated to not only maintain high standards, but also to continuously improve by learning different styles and performing different genres, or indeed by learning a new instrument entirely.
I think this is my approach to life in general and I would like to think that it is reflected in my approach to work.
