JTC Completes Kleinwort Benson Acquisition
by Jason Gorringe, Lowtax.net, London
26 August, 2015
JTC, a corporate, fund, and private client service provider, has formally completed its acquisition of Kleinwort Benson's fund administration business.
The acquisition takes JTC's global headcount to more than 450 staff and brings JTC's total assets under administration to USD56bn.
Completion follows the receipt of approvals from the relevant regulatory authorities and sees JTC add to its existing operations in Guernsey and Jersey. The deal also means that JTC will for the first time have physical operations in South Africa.
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, the British Virgin Islands, the Cayman Islands, Guernsey, Jersey, Luxembourg, Malta, Mauritius, New Zealand, South Africa, Switzerland, and the UK, as well as via USA representative offices in Miami and New York and alliance offices in Hong Kong, Labuan, Malaysia, and Singapore.
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