M and A
Channel Islands Fund Service Expands Dutch Footprint
The deal between the two firms is expected to be completed in mid-2017.
Jersey-based fund service JTC Group has
acquired Dutch trust company New Amsterdam
Cititrust in a bid to expand its global footprint.
The deal, which is subject to regulatory approval, will see New
Amsterdam Cititrust's entire management team merge with JTC. The
deal is expected to be completed in mid-2017.
New Amsterdam Cititrust was founded in 1981. It services a client
portfolio ranging from entrepreneurs and their families to
venture capitalists. The business provides a range of corporate
and administration services.
"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 New Amsterdam Cititrust strengthens and
deepens our offering to both institutional and private clients,”
said Nigel Le Quesne, chief executive and chairman at JTC Group.
“We are delighted to welcome to the JTC Group a high quality book
of national and international clients and an excellent team in
Amsterdam."