The international firm announced the completion of its deal shortly after speaking to the publisher of this news service about its results and broader corporate strategy.

JTC, the global professional services business which reported financial results recently, has completed its purchase of New York Private Trust Company, a Delaware-chartered non-deposit trust company.

NYPTC offers fiduciary services, including trusts, estate administration and white label platforms to high net worth individuals, family offices and corporate clients who are based in the US and around the world. 

JTC said the acquisition supports its strategy of continuing its growth in the US market and, in particular, developing its US domestic trust services offering. 

NYPTC complements JTC’s existing private client services operations in the US, which were established in 2013 and include offices in Delaware, Miami, New York and South Dakota. 

"NYPTC is a high-quality private client business that expands our US footprint and supports our ambitions to grow a market-leading US domestic trust business. We are delighted to be one of the first non-US headquartered and non-bank businesses to receive regulatory approval in Delaware, which underlines our long-standing commitment to the US market and future growth,” Nigel Le Quesne, chief executive of JTC, said (pictured).

The firm recently announced results (September 13, 2022) with revenue growth of 38.8 per cent reaching £93 million ($103.9 million) for the six months to June 30 from a year earlier. The rise in revenue was attributed to “continued strong net organic growth” of 9.5 per cent and inorganic growth of 29.3 per cent. The firm also chalked up underlying profit (earnings before interest, taxation, depreciation and amortization) of £30.7 million, rising 40.1 per cent from a year ago.

The firm, which has an EBIDTA margin target of 33 to 38 per cent, aims to generate annual net organic revenue growth of between 8 to 10 per cent.