JTC, a provider of fund and private wealth services based in Jersey, has secured a trust licence in the Cayman Islands from the Cayman Islands Monetary Authority.

The firm already offers global fund administration services in the Cayman Islands. It has been operating in the region since 2013.

The new licence will enable the firm to provide a suite of trust administration services.

The proposition will be offered through the firm’s global Private Client Services division.

Additionally, the firm named Michael Halsey as its managing director in the Cayman Islands.

Michael noted: “Over the past six years, JTC has earned a solid reputation in the Cayman Islands as a top tier fund service provider.

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“It’s hugely exciting for me to come in to build on that and help lead the firm through the next stage of its journey, in particular as we look to extend our support to private clients who are demanding increasingly sophisticated cross-border wealth management solutions.”

Halsey joins from Sackville Bank & Trust Company, where he served as the managing director in the Cayman Islands.

In his financial services career of over 20 years, he also worked as the director of trust and investment services at CIBC Wealth Management.

Three years ago, JTC acquired GAM’s fund administration operations in the Cayman Islands.