The Isle of Man Government’s Department of Economic Development has appointed Nick Preskey to the new role of Business Development Manager, High Net Worth Individuals.
Simon Pickering, Head of Retail Financial Services, Department of Economic Development commented:
‘This is a new role which has been created in acknowledgment of the evolving landscape for financial services in the Isle of Man as set out in the Island’s economic plan for the future, Vision2020. Nick’s main objective is to raise awareness of the Isle of Man in our key target markets as a place to relocate to.
‘We know from past and current experience that economically active High Net Worth Individuals are a source of growth and bring a range of benefits. For example, they often bring all or part of their business operations with them.
‘Additionally the construction of high-value homes sees valuable work being created for our local construction sector and over the past year, 8 properties have received Planning approval with a combined construction cost of around £30million, providing vital work for local construction firms.’
Nick Preskey joins the Department following 25 years’ experience in the Isle of Man Financial Services industry, with over 14 years at senior management level. Previous to this appointment he worked for six years as Chief Executive Officer of a Class 5 Trust Service Provider.
During his time in the Island he has worked in roles in Banking, Treasury Management and Fiduciary Services. Nick is a Fellow of the Chartered Institute of Bankers.
Nick Preskey commented:
‘This will be a challenging but exciting role and I’m looking forward to working closely with local industry to further develop the Island’s world class offering as an International Business Centre with a successful and well-respected financial services industry.’