A new industry association has been set up in the Channel Islands, focused on representing the wealth and investment management sector there.

The Channel Islands Wealth Management Association’s (CIWMA) main purpose is to create a unified voice for CI firms, enabling its members to collaborate while “continuing to uphold the highest standards of professional development and integrity”, CIWMA said in a statement.

Co-founders include chairman Simon O’Donoghue, a former partner at Jersey’s TEAM Asset Management; Standard Bank’s Mo Baluchi (vice chair) and committee members Euan Dangerfield, Richard Hughes, Mehul...