Following an initial announcement in July, JTC, the multi-jurisdictional, independent provider of corporate, fund and private client services, has formally completed its acquisition of Kleinwort Benson's fund administration business.
The purchase takes JTC's global headcount to more than 450 staff and cements its position as one of the most dynamic growth companies in the sector.
Completion follows receipt of approvals from the relevant regulatory authorities and sees JTC add to its existing operations in Guernsey and Jersey, as well as giving the company its first permanent presence in South Africa. The deal also brings JTC's total assets under administration to US$ 56 billion and bolsters its specific strengths in private equity, real estate and debt funds.
Nigel Le Quesne, Group CEO & Chairman, said: "The conclusion of this acquisition marks another step in our journey as we strengthen our position as a leading global provider of fund services. While this is the largest acquisition JTC has undertaken to date, our focus now is to provide a seamless experience for clients and staff and delivering first-class service will be the top priority throughout the integration process."
JTC is able to provide a global service to clients via its network of local offices in Argentina, Brazil, British Virgin Islands, Cayman Islands, Guernsey, Jersey, Luxembourg, Malta, Mauritius, New Zealand, South Africa, Switzerland and the UK, as well as USA representative offices in Miami and New York and alliance offices in Hong Kong, Labuan, Malaysia and Singapore.
For more information about Guernsey's finance industry please visit www.guernseyfinance.com.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
