JTC, the Jersey-based provider of fund, corporate and private wealth services to institutional and private clients, has announced the acquisition of Exequtive Partners.
A fast-growing, specialist provider of corporate and related fiduciary services, the Luxembourg-based company was established in 2013 and has demonstrated exceptional growth over the past six years.
Exequtive Partners' 28 employees, including the five principals, will all join the existing Institutional Client Services team at JTC, which this year marks its tenth anniversary of being in Luxembourg, with immediate effect. As well as expanding JTC's jurisdictional presence, the acquisition also builds on its corporate services capabilities, complements its funds offering and creates greater opportunities for future growth.
JTC is fully committed to Luxembourg, and the industry, and recently enhanced its fund platform by being granted a depositary license by Luxembourg's Ministry of Finance. This, coupled with its ManCo service, significantly strengthens its capabilities in the EU and enables JTC to provide a full ‘one-stop-shop' offering meeting regulatory and investor requirements.
This latest acquisition forms part of the JTC's ongoing growth strategy as outlined at its IPO in March 2018 and underlined in the trading update issued on 24 January 2019, with the company continuing to see further opportunities for organic and inorganic growth.
Commenting, Nigel Le Quesne, CEO of JTC, said: "Exequtive Partners is a specialist business in a key strategic location that has demonstrated outstanding performance since its inception. As such, this acquisition is reflective of our focus on high quality growth and on strengthening our proposition for institutional clients. In particular, the management team at Exequtive Partners has built a thriving business based on very similar principles to JTC."
Joost Mees, one of the founders of Exequtive Partners, added: "Given the global consolidation in corporate and funds administration, we are very happy to become an integral part of the JTC family which has been built on the same values that both companies recognise as fundamental to success. The expansion of our offering will be of added value to our clients as well as our team who will all have the opportunity of working with an energetic business with a clear shared ownership philosophy at its core. Together, we are confident about increasing our footprint in the corporate and alternative investments market in Luxembourg and beyond."
JTC listed on the main market of the London Stock Exchange in March 2018. It opened an office in Luxembourg in 2009 to provide a European centre for funds and corporate services.