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JTC Completes Another US Trust Business Purchase
JTC, a global professional services business headquartered in Jersey, has completed its latest acquisition in the US, continuing a run of deals to build out its global business empire.
JTC has completed its
acquisition of First Republic Trust Company of Delaware, after
initially announcing the deal on 22 April. The transaction
continues a number of moves by the firm to build an international
footprint.
The deal – the financial terms of which were not
disclosed – was completed after
JTC obtained final regulatory approval and
satisfied other closing conditions.
The acquisition of FRTC-DE – previously a wholly owned subsidiary
of JPMorgan Chase Bank – adds to JTC’s push to be a prominent
independent provider of trust services in the US.
FRTC-DE's team has joined JTC’s Private Client Services
(PCS) division and will be based in the office in Wilmington,
Delaware.
The acquired business runs alongside JTC’s other acquisitions of
South Dakota Trust Company and New York Private Trust Company.
To view other stories about JTC's moves in the US, see more here and here.
