JTC buy JP Morgan Chase unit for $21m

Mon, 22nd Apr 2024 07:02

(Sharecast News) - Global professional services business JTC said it had bought JP Morgan Chase subsidiary First Republic Trust Company of Delaware for $21m.

FRTC-DE is a provider of trust administration services to high-net-worth individuals and is headquartered in Wilmington, Delaware. The company has approximately $9bn of assets under administration by market value, JTC said on Monday.

Post-completion of the acquisition, FRTC-DE will become part of JTC's Private Client Services division.

Reporting by Frank Prenesti for Sharecast.com

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