Luxembourg acquisition for JTC 24 September 2015Luxembourg Reporter: Stephanie Palmer
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JTC has acquired accounting, administration and compliance service provider Signes, and rebranded as JTC Signes.
The firm will operate alongside JTC’s Luxembourg operation, which specialises in find administration, corporate and real estate services. The move represents an expansion of JTC’s presence in Luxembourg.
Signes was established in the jurisdiction 15 years ago by co-founders Eric Biren and Vincent Goy. The pair will remain in their roles as managing director and chairman, respectively, and Signes partner Raphael Poncelet will join the senior management team. JTC Signes will remain at Signes’s Luxembourg office, where the remaining JTC team will join them.
Nigel Le Quesne, JTC Group chairman and CEO, said: “The deal supports our expansion strategy enabling us to accelerate our European growth from Luxembourg, recognised as such an important financial services centre in the heart of Europe, while also introducing a high quality book of business to the group.”
“Following our recent acquisition of the Kleinwort Benson fund administration business in the Channel Islands and South Africa, this transaction is further evidence of our commitment to building our institutional client services capabilities in key financial centres worldwide to meet increasing demand from new and existing clients.”
Goy and Biren added: “The transaction with JTC is very much based on our entrepreneurial synergies and gives us the unique opportunity to expand our own service offering, take our clients into the regulated world and join the growing successful international network that JTC is now synonymous with.”
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