Guernsey leader Ozannes is to launch an office in Jersey, as the consolidation in the offshore legal market continues.

The firm, which specialises in banking, funds and related litigation, has appointed Crills senior associate Marcus Stone as partner to head up the new office, and is looking for further hires ahead of the formal launch in September.

Ozannes plans to build the office, the first local arm to be launched by a Guernsey firm, to about 15 lawyers over the next two years.
The branch will focus on the establishment of investment funds, securitisation, corporate banking and general trust work.

Ozannes managing partner Robert Shepherd said that client demand led to the Jersey move. Clients of the 13-partner firm include Barclays Bank, Morgan Stanley, First Rand International and Close Fund Management.

Shepherd told Legal Week: "The decision to launch in Jersey is something we have been planning for some time. We hope to build a real emphasis on ensuring the two offices work closely in order to give clients a fully integrated service."

The move follows various firms from Jersey – the bigger of the two financial markets – venturing into Guernsey. In January, Mourant du Feu & Jeune launched a Guernsey arm which will focus on international financial business, including property and hedge funds and private equity.

Jersey rival Bedell Cristin has also announced it is to open in Guernsey in April. The strategy of having offices in both jurisdictions is an indicator of the consolidation of the offshore market.

The firm with the biggest presence in both jurisdictions is Carey Olsen, which was created from the merger of Carey Langlois and Olsens in March 2003.