Independent fiduciary, funds and corporate service provider JTC has confirmed its acquisition of Merrill Lynch Wealth Management’s International Trust and Wealth Structuring business (“ITWS”) subject to regulatory approvals. The ITWS business provides the administration of trust services for Merrill Lynch Wealth Management’s international advisory clients.

In addition, Merrill Lynch and JTC have entered into a strategic relationship whereby JTC will offer a range of trust administration services to new and existing international advisory clients. Merrill Lynch will retain its international wealth management business, including its brokerage accounts, trust assets and international financial advisors.

Nigel Le Quesne, JTC’s Chairman and CEO, expressed his delight at concluding this deal:

“JTC is passionate about providing the very best private client services, as our 30-year track record in supporting high and ultra-high net worth clients proves. We look forward to demonstrating to incoming clients that JTC is a fantastic fit for their administration and wealth structuring needs and for our new colleagues, we will provide an innovative, dynamic and client-focused environment in which to work and grow.”

Don Plaus, head of Merrill Lynch’s Private Banking & Investment Group, International and Institutional, said: “We are pleased to be able to offer our clients access to this award winning provider of wealth structuring and trust services. We believe our clients will benefit from their deep experience in trust administration and structures in our key markets.”

With the addition of approximately 70 Merrill Lynch employees, the deal will see JTC’s number of employees rise to almost 600, adding to its footprint in the key global financial centres of the Cayman Islands, Geneva, London, Miami and Singapore. It will also establish JTC in the Isle of Man, giving it a presence in 20 global jurisdictions in total, following its recent acquisition of New Amsterdam Cititrust in the Netherlands.

Talking about JTC’s ongoing expansion, Mr Le Quesne went on to say:

“As well as materially growing our private client business, this deal reinforces our long-standing commitment to the Americas region and increases the strength and depth of our administration capabilities in Europe and beyond. In addition, I am pleased that the existing relationship between JTC and Merrill Lynch will be strengthened further, both through interaction with their extensive Financial Advisor network, and JTC’s inclusion on their panel of recommended partners for new business.”

For more information, please contact:

David Vieira

Group Head of Business Development & Marketing

+44 1534 816 246

+44 7797 731 683

[email protected]

For Merrill Lynch, please contact:

Susan Atran
+1 646 743 0791
[email protected]

About JTC

We are JTC, an independent, award-winning provider of fund, corporate and fiduciary services to institutional and private clients.

Established in 1987, we now have over 500 people in offices across 19 jurisdictions, with assets under administration totalling over US$70billion.

Our independence and shared ownership culture means we all share the same priority: the best interests of our clients.

core services

Accounting Services
Corporate Services
Employee & Executive Services
Family Office Services
Fiduciary Services
Fund Services
Marine & Aviation Services
Pensions
Real Estate Services
Treasury Services

NOTE:

The move means that JTC will add approximately 70 Merrill Lynch employees to its staff, add to its footprint in the Cayman Islands, Geneva, London, Miami and Singapore, and establish JTC in the Isle of Man for the first time.