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Offshore firm Ozannes is to become the first Guernsey outfit to launch an office in Jersey.
The new office will be headed by new partner Marcus Stone, who joins from Jersey firm Crills. It will open for business in the autumn, as first revealed on www.the lawyer.com (29 March).
Senior partner Roger Perrot said: "We're delighted to announce our plans for opening in Jersey at last. This is something we've been looking at for quite some time, but which we wanted to get right. We're delighted to welcome Marcus as part of the team to lead our Jersey presence."
Ozannes has a 15-person business licence, which it intends to fulfil in three to four years through lateral recruitment.
The firm will offer advice on funds, corporate, banking and financial services from day one. It also intends to build a litigation practice and to recruit insolvency expertise, an area it believes is underserviced in Jersey.
Ozannes is the first of the Guernsey firms to launch in Jersey. Most of the movement has been the other way, with Bedell Cristin and Mourant du Feu & Jeune the most recent Jersey firms to open in Guernsey.
The offshore legal market has undergone a large amount of expansion and consolidation in recent years. In the last 12 months alone, Cayman Islands firm Walkers has launched in Dubai, Gibraltar's Marrache & Co has opened in Prague and the Isle of Man's Cains has set up in London.