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Carne Group open new office in Jersey providing governance for CI Funds

4 July 2014

Carne Group, the leading global provider of governance and oversight services for asset managers, has opened a new office in the Channel Islands and will now be able to offer oversight for Channel Islands funds, including private equity, infrastructure and real estate.

Joining Carne as Managing Director responsible for the Channel Islands is Mark Hodgson, who will be available immediately to serve as an independent director on Jersey and Guernsey fund boards.

Mark is a highly experienced funds professional and has been resident in Jersey for over eight years. He has spent over 25 years in the financial services industry, including as a senior executive with HSBC in the UK and Jersey. He joins Carne from Capita, where he was Managing Director of its multi-jurisdictional Offshore Registration business, before leading Capita's fund administration business as a Managing Director.

John Donohoe, CEO of Carne Group said: "We are very excited to be able to add the Channel Islands to the list of jurisdictions where Carne now has a permanent presence. Jersey and Guernsey continue to play an important role in the growth and stability of the offshore funds business, including in alternative investment areas like private equity and real estate.

Mark is very familiar with the local regulations governing Channel Islands funds and has sat on the boards of funds with a range of strategies. He will be able to assist Carne clients in meeting their Jersey and Guernsey governance needs.

Carne would also like to thank Locate Jersey for its help with our application to the Jersey Population Office and the support it provided in our decision process as to whether to establish our first Channel Islands presence in Jersey. It provided invaluable support in obtaining the requisite authorisations and smoothing the application process."

Mark commented: "I am looking forwards to working with the Carne team in helping to promote the Channel Islands as a funds jurisdiction. There is already demand within the industry for the Carne brand of independent oversight to be extended to Channel Islands funds, and I will be working to deliver that award-winning service here in Jersey and Guernsey."