Bank Aston Guernsey License Approved
- The Guernsey Financial Services Commission has granted Bank Aston a banking license, marking the first time in almost three decades that a locally-based bank in Guernsey has received...
- Bank Aston will concentrate on serving offshore trustees, family offices, and investment funds.The company aims to provide a more seamless banking experience for clients in the Channel Islands,...
- James Bennett, a co-founder, said traditional banks are creating challenges for offshore institutions.
Bank Aston secures a Guernsey banking license, a major milestone after a 30-year wait! This marks a new dawn for the island’s financial landscape, with the bank focusing on offshore trusts, family offices, and investment funds. bank Aston aims to streamline banking operations within the Channel Islands, contrasting older institutions with modernized technology and client-focused services. Its entry is set to play a key role in international finance, offering speedier and more secure transactions. The bank’s leadership, including Kevin Brown and Paul Gorman, brings a wealth of experience. james Bennett and Jay Goss highlight how Bank Aston’s modern approach will impact the financial sector locally. Read this exclusive from News Directory 3 to see how this new bank’s innovative approach is prepared to change the offshore sector. discover what’s next …
bank Aston Receives Guernsey Banking License After 30-Year Wait
Updated June 18, 2025
The Guernsey Financial Services Commission has granted Bank Aston a banking license, marking the first time in almost three decades that a locally-based bank in Guernsey has received such approval. The island’s last homegrown bank ceased operations in 1996. Bank Aston intends to establish a modern institution catering to offshore clients.
Bank Aston will concentrate on serving offshore trustees, family offices, and investment funds.The company aims to provide a more seamless banking experience for clients in the Channel Islands, utilizing a responsive and efficient system to differentiate itself from older banks with outdated processes.Kevin Brown, formerly of the Royal Bank of Scotland, the Bank of england, and the Financial Conduct authority (FCA), has been named chairman. Paul Gorman, previously with barclays and Santander, has been appointed to a leadership role.
James Bennett, a co-founder, said traditional banks are creating challenges for offshore institutions. He noted that delays, poor support, and high fees are causing many to abandon offshore setups, incurring unnecessary costs and risks that harm the Channel Islands’ economy.
Jay Goss, another co-founder and a Guernsey resident, said the industry’s challenges are disrupting the wider sector. He added that the new bank signifies confidence in Guernsey’s future, positioning itself as a defender of the island’s place in global finance. Building trust with institutional clients will be crucial for Bank Aston’s growth, utilizing modern technology to minimize delays and enhance clarity.
According to the bank, Guernsey has long played a meaningful role in international finance, particularly in trusts and funds. The absence of a local bank has intricate processes. Bank Aston’s entry may lead to greater independence, resulting in faster and more secure transactions for offshore clients.
Brown said local access to banking is crucial for offshore firms, many of which feel abandoned by larger institutions. He believes Bank Aston could reshape offshore finance,acting as a long-term partner for the local financial system. The bank aims to become a symbol of Guernsey’s adaptability in the offshore banking sector.
What’s next
Bank Aston is targeting a full launch next year, initially focusing on deposits from institutional clients. This phase is considered critical in reshaping offshore finance from within.