JTC has today completed its acquisition of Minerva, the Jersey-headquartered global provider of private client, corporate, fund and treasury services.
Having announced a conditional agreement to acquire Minerva on 6 September, regulatory approvals have been granted to conclude the deal.
As well as bringing JTC’s total headcount to more than 650 across 18 locations and growing the firm’s total value of assets under administration to US$100bn, the acquisition will add a Dubai office to JTC’s global network and increase the company’s scale of services in five of its existing locations - Jersey, London, Geneva, Singapore and Mauritius.
In addition, it will extend JTC’s reach in sub-Saharan Africa, India and Asia, and add to JTC’s treasury services offering.
Over the coming months, the Minerva business will fully rebrand to JTC and Minerva and JTC staff will be brought together in key locations.
JTC Chief Executive Nigel Le Quesne (pictured) commented: “The completion of this acquisition represents another milestone for JTC and forms part of our growth strategy. In particular, it bolsters our global platform in Africa, Asia and the Middle East, including adding a new presence in Dubai, giving us a strong platform for growth.”
JTC listed on the main market of the London Stock Exchange in March 2018.