JTC has completed its acquisition of Kleinwort Benson’s fund administration business, adding to its existing operations in the Channel Islands and expanding to have a permanent presence in South Africa for the first time.
The acquisition was first announced in June, and has been finalised following approvals from the relevant regulatory authorities.
It brings JTC’s total assets under administration to $56 billion, and brings added strength to the private equity, real estate and debt funds.
Nigel Le Quesne, CEO and chairman, said: “The conclusion of this acquisition marks another step in our journey as we strengthen our position as a leading global provider of fund services.”
“While this is the largest acquisition JTC has undertaken to date, our focus now is to provide a seamless experience for clients and staff and delivering first-class service will be the top priority throughout the integration process.”
In June, CEO of Kleinwort Benson Martha Boeckenfeld said: “Moving our fund administration business to JTC, which is a global provider of fund and corporate administration services, leaves us free to focus on our core activities for the benefit of clients and the business going forward.”
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