JTC, a provider of fund, corporate and private client services, has purchased Signes, a Luxembourg-based provider of accounting, administration and tax compliance services to institutional investors.
As part of the acquisition, JTC will now be rebranded as JTC Signes and will operate as a sister company to JTC’s own Luxembourg operation.
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The rebranded business will remain at its offices in Boulevard de la Pétrusse, where JTC’s existing Luxembourg team will join them.
Following the deal, Signes co-founders Eric Biren and Vincent Goy will continue in their roles as managing director and chairman, respectively, and Signes partner Raphael Poncelet will join the senior management team.
JTC Group CEO and chairman Nigel Le Quesne said: "The deal supports our expansion strategy enabling us to accelerate our European growth from Luxembourg, recognised as such an important financial services centre in the heart of Europe, while also introducing a high quality book of business to the Group.
"Following our recent acquisition of the Kleinwort Benson fund administration business in the Channel Islands and South Africa, this transaction is further evidence of our commitment to building our institutional client services capabilities in key financial centres worldwide to meet increasing demand from new and existing clients."
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By GlobalDataGoy and Biren added: "The transaction with JTC is very much based on our entrepreneurial synergies and gives us the unique opportunity to expand our own service offering, take our clients into the regulated world and join the growing successful international network that JTC is now synonymous with."
