JTC has officially completed the purchase of Kleinwort Benson’s fund administration business, boosting its assets under administration (AuA) to $56bn.
The acquisition will bolster its operations in the Channel Islands and give it a permanent presence in South Africa.
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The deal will expand the company’s global headcount to over 450 staff. It will also strengthen the company’s private equity, real estate and fixed income offering.
As part of the acquisition, the South Africa staff will remain in their Cape Town offices, while the combined business in Guernsey will operate from Dorey Court in St Peter Port, while the Jersey team will move to JTC’s offices in St Helier.
JTC group CEO and chairman Nigel Le Quesne 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."
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