The private banking arm of UK-based Arbuthnot, Arbuthnot Latham, said it has sold its pension administration business to Premier Pension Services, a specialist division of UK company JLT Benefit Solutions.

The sale of Arbuthnot Trustees will have “a positive impact on future profitability at Arbuthnot Latham”, the firm said in a statement, but it did not elaborate on the financial terms of the sale.

The portfolio of Arbuthnot Trustees is composed of self invested personal pension and other Arbuthnot clients. Arbuthnot Latham said it will continue to provide banking and investment management services to these clients under the terms of the deal.

JLT Benefit Solutions is part of Jardine Lloyd Thomson, the UK-listed risk management, insurance and reinsurance company.