JTC Group, the fast-growing provider of fund, corporate and fiduciary services, has expanded its global footprint to include the Netherlands through the acquisition of New Amsterdam Cititrust B.V. (“NACT”).
The deal, which remains subject to regulatory approvals, will see the entire management team and all staff remain with the organisation and join JTC, with completion of the transaction expected in mid-2017. NACT was founded in 1981 and, through its team of highly experienced professionals, services a client portfolio ranging from entrepreneurs and their families to venture capitalists, private equity firms and publicly listed companies.
The business provides a range of corporate and administration services, including: company formation, corporate management, administration, accounting, financial reporting and legal and secretarial services.
Commenting on the acquisition, JTC Group CEO & Chairman, Nigel Le Quesne, said: "The expansion of our global network to include the Netherlands is a natural extension of our presence in the Benelux region and the acquisition of NACT strengthens and deepens our offering to both institutional and private clients.
We are delighted to welcome to the JTC Group a high quality book of national and international clients and an excellent team in Amsterdam."
Edmond Hartsuiker, Managing Director of NACT, added: "New Amsterdam Cititrust has for many years been synonymous with technical expertise, first class service and a focus on creating needs-based solutions. We are therefore thrilled to be joining with JTC Group, who share these values and have a similar client population. We will ensure, going forward, that our clients continue to receive the levels and quality of service they expect and deserve."
"JTC has over 500 staff operating from 18 jurisdictions globally and holds more than US$70 billion of Assets under Administration (AuA). The company was founded in Jersey 30 years ago and offers a full range of fund, corporate and fiduciary services to institutional and private clients based in 102 countries."