Guernsey Finance, the agency that promotes the island’s finance industry around the world, has recruited Rupert Pleasant from wealth and trust manager Beauvoir Group to be its new chief executive.

He replaces the outgoing Dominic Wheatley as an ambassador for the sector.

Mr Pleasant joins from Beauvoir Group, where he was acting group managing director. He has worked in private wealth with nearly 30 years in Guernsey and abroad for firms such as Lloyds Bank, Barclays Wealth, Credit Suisse, Investec and PraxisIFM among others.

He previously worked in Hong Kong and South Africa, two of Guernsey’s finance industry’s key markets.

Mr Wheatley is due to leave his role in June.

Guernsey Finance chairman Lyndon Trott said: “Rupert’s considerable international finance and marketing experience will be instrumental in continuing the contribution that the Guernsey Finance team make in promoting the island as a leading finance centre.

“This is a key time for Guernsey as we look to innovate and create fresh opportunities to promote the island and the finance industry across current and emerging markets. Rupert is passionate about the island and I am delighted that he has accepted the role of chief executive”.

Tony Mancini, chair of the Guernsey International Business Association, welcomed the appointment as important for the island given that finance remains the “primary driver” of the economy.

Guernsey has about 1,000 investment funds domiciled or serviced in the island, 150 licensed fiduciaries and 800 licensed insurance vehicles.