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

JTC, Permira Advisers
JTC, a global professional services business headquartered in Jersey, and private equity firm Permira Advisers have announced that Permira’s £2.7 billion ($3.65 billion) acquisition of JTC, by funds advised by Permira, alongside Canada Pension Plan Investment Board, has been completed. As part of the deal, the firm was de-listed from the London Stock Exchange and is now a private company. The firm was majority acquired by London-headquartered Permira with a 20 per cent stake held by the Canada Pension Plan Investment Board.

JTC will continue to operate under its existing name and brand, led by CEO Nigel Le Quesne and the JTC management team.

Founded in 1987 in Jersey, working with family offices, wealth managers and financial institutions, JTC has grown to become a business of more than 2,500 people, serving over 14,000 clients across more than 100 countries. Its growth has been driven by a culture of shared ownership for all employees, consistent organic growth and a disciplined approach to acquisitions. 

JTC's Institutional Capital Services (ICS) and Private Capital Services (PCS) divisions put the company at the centre of structural growth across private capital and global wealth management. In the US, working with family offices, wealth managers and financial institutions, JTC has established a position in trust services. Alongside demand for fund, corporate and employer solutions services, these services provide tailwinds for long-term growth.

Permira has a track record in the industry, for example via its investments in Alter Domus, Tricor and Kroll. It has invested about €16 billion ($18.56 billion) of equity capital to date in the wider services sector over four decades.

“The completion marks an important milestone for JTC. With Permira as our partner, we are well positioned to deliver our Genesis era business plan, where our vision is to double the size of the group once again,” Le Quesne said. “The long-term opportunity in the US is particularly exciting. We see significant potential to continue building our leadership position in trust services and to expand our fund, corporate and employer solutions businesses as demand continues to grow.”

“We look forward to supporting the business as it delivers its latest growth era, accelerating its expansion across North America and Europe through continued investment in service quality, AI-enabled client delivery and strategic acquisitions,” Robin Bell-Jones, partner, services, head of London at Permira, added. “JTC is well positioned to benefit from powerful structural tailwinds, including the growth in global demand for alternatives and in the US the largest intergenerational transfer of wealth in history.”