John Dickinson, partner at CBW, which is ranked 48 in Accountancy's 2017 league table of firms, said: ‘We are extremely excited by this partnership. Our offshore portfolio has grown considerably over the past few years and we have been present, working on the island for over 12 months. Through this new venture we gain a foothold on the island, which will enable us to facilitate the needs of our clients as well as to strengthen Chandler Backer’s existing offering.’

As part of the joint venture, Chandler Backer has moved to new premises in St Peter Port and will operate as CBW Guernsey under the guidance of Martin Mahe, director and former sole partner at Chandler Backer. Stuart Place, former chairman of the Guernsey Investment Managers and Stockbrokers Association, will also be joining the team.

Dickinson said: ‘Martin’s career has tracked the growth of Guernsey’s finance industry from its early days in the 1970s to its current position of maturity, whilst Stuart has over 25 years’ experience in the finance industry, particularly in the funds sector. They are both extremely experienced and ideally placed to work alongside CBW’s partners Tom Adcock, Carl Bowles, Paul Smethurst and myself to deliver high calibre business and financial insights.’

CBW currently has 20 partners and more than 140 supporting staff in London.