The multi-jurisdictional provider of private wealth services JTC Group has completed the acquisition of Minerva, the Jersey-headquartered firm that offers private client, corporate, fund and treasury services.
The deal will bring JTC’s total headcount to more than 650 across 18 locations, growing the firm’s total value of assets under administration to $100bn (£78bn, €89bn).
Nigel Le Quesne, chief executive of JTC, said: “The completion of this important acquisition represents another milestone for JTC and forms part of our well-established growth strategy.
“With a track-record built up over four decades, a tradition of family ownership and a clear commitment to client service values, Minerva is a great fit for JTC and adds strength and depth across our business lines.”
The acquisition will add a new 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 the markets of sub-Saharan Africa, India and Asia and grow and enhance its treasury services offering.
Over the coming months, the Minerva business will fully rebrand to JTC and staff of both companies will be brought together in a number of key locations.
Le Quesne added: “In particular, this acquisition bolsters our global platform and capabilities in the key markets of Africa, Asia and the Middle East, including adding a new presence in Dubai, giving us a strong and scalable platform for future growth.
“We extend a warm welcome to our new colleagues, clients and partners and look forward to working with them as part of an enhanced JTC.”