JTC Group, Jersey-based providers of private client, fund and corporate services, has purchased a substantial book of private client business from Herald Trust Company.
Additionally, 27 Herald directors and staff based in Jersey will be transferred to JTC Group’s St Helier offices and buildings, according to businesslife.co.
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As part of the acquisition, the transferred Herald staff will ensure seamless continuity of service for clients and will offer a significant number of local jobs as part of JTC Group’s expansion.
Nigel Le Quesne, group chairman and CEO of JTC Group, said: "The purchase of this book of business and the transfer of staff is part of our ongoing growth strategy and we are delighted to welcome our new clients and colleagues to JTC Group."
In 2013, JTC Group has completed a series of acquisitions including the purchase of Guernsey based Ardel Fund Services in April, a alliance with Kensington Trust Group and the acquisition of both Ardel Trust Company (Switzerland) SA and of Anson Fund Managers.
JTC Group was founded in 1987 and has a team of over 250 people, representing from 15 jurisdictions worldwide.
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