The latest moves in wealth management across Europe, Middle East and Africa.

JTC
Recently floated private wealth fund and corporate services group JTC is acquiring Luxembourg-based Exequtive Partners in a push to offer a full suite of services in a key financial hub.

Effective immediately, Exequtive‘s 28 employees, including five principals, will join JTC’s existing institutional clients team, which has been based in Luxembourg for the past 10 years.  Besides expanding JTC’s jurisdictional presence, the firm said that acquiring the Luxembourg outfit, set up in 2013 around similar business principles, was an “excellent cultural fit”.

“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,” Nigel Le Quesne, CEO of JTC, said.

Since the firm went public on the London Stock Exchange in March 2018 it has been on an ambitious growth streak. In November, this publication reported on the group’s acquisition of Minerva, a Jersey-based firm operating in a similar field, which brought JTC’s total headcount to more than 650 across 18 locations, and total assets under administration to $100 billion.

The firm said the moves in Luxembourg, being granted a depositary license to extend its fund platform there, alongside its management company service, would provide a full ‘one-stop-shop’ offering in the EU.

Joost Mees, a co-founder of Exequtive Partners, said: “Given the global consolidation in corporate and funds administration, we are very happy to become an integral part of the JTC family. Together, we are confident about increasing our footprint in the corporate and alternative investments market in Luxembourg and beyond.”