Guernsey-based Bank Aston to expand into Jersey

The Bank Aston Group has announced plans to expand into Jersey, led by Aston Currency Management (CM).

Bank Aston received authorisation from the Guernsey Financial Services Commission (GFSC) to launch a new offshore bank in June 2025, making it the territory’s first locally licensed bank for nearly 30 years.

It is due to launch in Guernsey in July 2026, and will be looking to other ‘well-regulated’ jurisdictions as part of its expansion once it has completed its latest financing round.

The group’s foreign exchange business will lead its expansion into Jersey, with a view to establish a presence in the market prior to the potential opening of a Bank Aston locally.

It stated that offices and key hires had already been identified, with the foreign exchange business expected to launch in Jersey before the end of the year.

“Aston CM is very different from most currency management providers,” said Bank Aston co-founder and Aston CM CEO, James Bennett.

“We are fast moving, customer focused and independent. This means we can deliver what our clients want at speed and at scale without the restrictions of slow-moving legacy businesses.

“Bank Aston and the Aston Group want to be an offshore banking leader. Our move to Jersey is part of a wider plan to deliver on this vision.

“We know that many of the legacy banking players are looking to leave the Channel Islands and that the family offices, trusts and fiduciaries left behind really value the flexibility, services and speed we can offer.”

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