Last checked at 1 Nov 2022 07:00
1 November 2022
JTC PLC
(the "Company" and together with its subsidiaries "JTC" or the "Group")
Completion of New York Private Trust Company ("NYPTC") Acquisition
JTC, the global professional services business, is pleased to confirm today the completion of its acquisition of New York Private Trust Company ("NYPTC"), a Delaware-chartered non-deposit trust company. The acquisition was announced on 26th August 2022 and has now received the necessary regulatory approvals.
NYPTC is highly complementary to JTC's existing Private Client Services operations in the US, which were established in 2013 and now include offices in Delaware, Miami, New York and South Dakota.
The acquisition supports JTC's strategy to continue its growth in the US market and in particular, to develop its US domestic trust services offering in what is a large and growing market.
The consideration has been settled in cash.
Nigel Le Quesne, CEO of JTC, said:
"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. The NYPTC team has an outstanding reputation for delivering the highest levels of service and we extend a warm welcome to our new colleagues and clients."
Ends.
Enquiries:
JTC PLC +44 (0) 1534 700 000
Nigel Le Quesne, Chief Executive Officer
Martin Fotheringham, Chief Financial Officer
David Vieira, Chief Communications Officer
Camarco +44 (0) 20 3757 4985
Geoffrey Pelham-Lane
Georgia Edmonds
Sam Morris
About JTC
JTC is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. Every JTC person is an owner of the business and this fundamental part of our culture aligns us with the best interests of all of our stakeholders. Our purpose is to maximise potential and our success is built on service excellence, long-term relationships and technology capabilities that drive efficiency and add value.
www.jtcgroup.com
Important Notices
The person arranging release of this announcement on behalf of JTC is David Vieira (Chief Communications Officer).
The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any other jurisdiction should inform themselves about, and observe, any applicable requirements. This announcement has been prepared for the purposes of complying with the Listing Rules and MAR and the information disclosed may not be the same as that which would have been prepared in accordance with the laws and regulation of any jurisdiction outside of England.
This announcement contains forward looking statements. No forward-looking statement is a guarantee of future performance and actual results or performance or other financial condition could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact they do not relate only to historical or current facts. They may contain words such as "may", "will", "seek", "continue", "aim", "anticipate", "target", "projected", "expect", "estimate", "intend", "plan", "goal", "believe", "achieve" or other words with similar meaning. By their nature forward looking statements involve risk and uncertainty because they relate to future events and circumstances. A number of these influences and factors are outside of the Company's control. As a result, actual results may differ materially from the plans, goals and expectations contained in this announcement. Any forward-looking statements made in this announcement speak only as of the date they are made. Except as required by the FCA or any applicable law or regulation, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement.