M and A

JTC To Acquire Cayman-Based Fiduciary Services House

Tom Burroughes Group Editor 19 June 2024

JTC To Acquire Cayman-Based Fiduciary Services House

JTC, which has established a presence in the Caribbean island since 2013, said the deal will add to its footprint and bolster its work in governance services. The deal is an example of M&A activity in the trusts and fiduciary services sector.

JTC, a global professional services business headquartered in Jersey, has bought Cayman-based FFP, which provides specialist fiduciary services to fund, trust and corporate clients. 

The completion of the transaction – the financial terms of which were were not disclosed in JTC’s statement yesterday – is subject to regulatory approvals. 

Founded in 2012, FFP is privately owned. Besides its Cayman Islands' headquarters, it has offices in the BVI and Dubai. 

JTC said that the acquisition will help it to set up a governance services practice.

FFP has “particular expertise in resolving situations that require practitioners with specific restructuring or insolvency experience,” it added.

Having set up a presence there in 2013, the transaction also adds to JTC’s footprint in the Cayman Islands, .

Once the acquisition is complete, JTC will be represented by a team of more than 80 professionals. All the FFP team, including the founders and senior management, will remain with JTC once the deal is wrapped up.

"FFP has an excellent reputation and significant subject matter expertise with strength in depth across the team. We believe that access to JTC’s global platform will accelerate FFP’s growth prospects with substantial opportunities across the group as we develop our Governance Services business line,” Nigel Le Quesne (pictured), CEO of JTC, said in a statement. 

Earlier this week, JTC rolled out an enhanced proposition that supports family offices, trust companies and other organisations with their increasingly complex financial and regulatory reporting obligations. The launch of JTC’s Outsourced Financial and Regulatory Reporting Services brings together knowledge from across the JTC Group to deliver a more streamlined, cohesive and joined-up offering.

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