The latest mergers, acquisitions and other corporate actions in the wealth management sector.

JTC, Buck UK
JTC, a global professional services business headquartered in Jersey, has announced its proposed acquisition of Buck UK and European Share Plan Administration and Trustee businesses from Arthur J Gallagher, a global insurance brokerage, risk management and consulting services firm. The move continues a run of deals to build out its global business empire.

Completion is subject to regulatory approvals, the firm said in a statement. The acquisition will enhance JTC’s existing Employer Solutions platform, which delivers growth for the group.

In addition to accelerating JTC’s share plan and trustee service offering, Buck Share Plans will bring an existing book of high-quality blue-chip clients, as well as an experienced, client-focused and committed team of 16 professionals based in the UK, Guernsey and Germany.

“This acquisition is exciting for us given share plan services are closely aligned with our own shared ownership philosophy, which has been at the heart of JTC’s culture since 1998,” Nigel Le Quesne, CEO of JTC, said.

The firm has made a number of similar acquisitions in Europe and North America, most recently it acquired First Republic Trust Company of Delaware. It also bought Cayman-based FFP, which provides specialist fiduciary services to fund, trust and corporate clients. See more commentary here and here.