11 October 2012 Last updated at 13:06 ET

Guernsey finance ranked top in Europe

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Guernsey has been ranked as the best specialist finance centre in Europe.

"The Banker" magazine, part of the Financial Times group, puts the island ahead of both Jersey and the Isle of Man.

Guernsey has maintained its top position in Europe from 2011 and comes second globally, beaten to the top spot by the Cayman Islands.

Guernsey Finance chief executive, Fiona Le Poidevin, said it was very pleasing news.

She said it was made extra special as it came from a respected publication and was based on economic and financial data supplied by each of the jurisdictions.

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