Jersey Trust Company (JTC) has today announced its acquisition of the business of specialist wealth management firm, Caversham Fiduciary Services Limited.
The purchase is an important strategic move for the JTC Group and will see the company’s existing private wealth practice grow significantly. Over 30 Caversham staff will join forces with the JTC team and both companies have confirmed that there will be no redundancies as a result of the deal.
JTC Group Managing Director, Nigel Le Quesne, said: “This is a very exciting development for the Group and we are delighted to welcome our new colleagues and clients to JTC. The fit between the two businesses is excellent and this acquisition will allow us to benefit from an increase in the scale of our operations whilst still retaining all the benefits of being a truly independent provider with an absolute focus on client satisfaction and service.”
Stephen Whale, previously Managing Director of Caversham, will head up the company’s expanded private wealth practice. He said: “JTC is a dynamic and very successful organisation. We share a similar philosophy and approach to business and as part of an enlarged, independent company, we will be able to provide a much broader offering to our clients with a continued focus on quality of service.”
JTC is one of the Channel Islands leading independent financial services companies and earlier this year was named the Play.com Large Business of the Year at the Jersey Enterprise Awards. The Group offers private wealth, corporate and fund and employee services solutions and has offices in six jurisdictions, including its Jersey headquarters. The business has grown strongly over the past ten years, building a reputation for high levels of customer service and an entrepreneurial approach.
The acquisition of Caversham will deliver an established portfolio of private wealth clients, a high calibre, professional team and access to new markets that will allow JTC to accelerate its growth plans.
For further information please contact:
David Vieira Manager, Business Development
Notes to editors
Jersey Trust Company and certain associated companies are regulated by the Jersey Financial Services Commission, the Guernsey Financial Services Commission, the British Virgin Islands Financial Services Commission and JTC Suisse, our Geneva office, is an affiliate of l’Association Romande des Intermédiaires Financiers (ARIF). The financial sector in Luxembourg is regulated and supervised by the Commission de Surveillance du Secteur Financier (CSSF). The CSSF authorises fiduciary and administration businesses under a classification of Professionnel du Secteur Financier (PSF).
Jersey Trust Company is one of Jersey’s leading independent providers of private wealth, corporate, employee benefit and fund administration services. Our head office is located in Jersey’s financial district of St. Helier and through our continued international expansion we have opened offices in jurisdictions such as London, Glasgow, the British Virgin Islands and Switzerland.
Jersey Trust Company has made the strategic decision to develop the business independent of any institutional links. This independence allows flexibility, quick decision making and an ability to choose from a vast network of professional contacts (including accountants, tax advisors, banks and investment advisors) to ensure a bespoke and uncompromised service for our clients. By deciding to focus on the provision of high quality trustee, management and administration services we leave the peripheral investment and banking businesses to other specialists. This allows us the flexibility to place these roles with the leading and most appropriate service providers in their respective disciplines, ensuring a first class product. Performance is regularly monitored to ensure that the clients’ objectives are being met and flexibility is retained to allow change if required.
Our independent and flexible approach has given us the opportunity to work with a global client base, from large corporations through to entrepreneurial individuals and those experiencing first generation wealth. We pride ourselves on a personal and efficient approach with a commitment to tailor our services to meet the needs of the client. This process is overseen by professionally qualified individuals including accountants, lawyers, chartered bankers, chartered secretaries and trust and estate practitioners.