JTC Completes Kleinwort Benson's Fund Administration Acquisition

Following an initial announcement in July, JTC, the multi-jurisdictional, independent provider of corporate, fund and private client services, has formally completed its acquisition of Kleinwort Benson's fund administration business.

The purchase takes JTC's global headcount to more than 450 staff and cements its position as one of the most dynamic growth companies in the sector.

Completion follows receipt of approvals from the relevant regulatory authorities and sees JTC add to its existing operations in Guernsey and Jersey, as well as giving the company its first permanent presence in South Africa. The deal also brings JTC's total assets under administration to US$ 56 billion and bolsters its specific strengths in private equity, real estate and debt funds.