LONDON--(BUSINESS WIRE)--JTC, the global provider of fund, corporate and private client services, is pleased to confirm today the completion of its acquisition of TC3 Group Holdings LLC, trading as South Dakota Trust Company (SDTC), the leading independent provider of administration services to the US personal trust sector, for a maximum consideration of $270 million.
The acquisition was announced on June 14, 2023, and has now received US merger control and South Dakota regulatory approvals.
The acquisition establishes JTC as the leading independent provider of administration services to the US personal trust sector, provides strong growth opportunities, and significantly strengthens and scales JTC’s US platform.
Nigel Le Quesne, CEO of JTC, said:
"We are delighted to welcome our new SDTC colleagues, clients and partners to JTC. Together we have significant opportunities to meet a wider range of clients’ needs, building on our existing strong presence in the US market. This, in turn, will help maintain our growth momentum, contributing to our Cosmos era business plan, the highlights of which we look forward to sharing at our results on the 12th of September.”
EDITORS’ NOTES
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.
REGULATION AND TERMS OF BUSINESS
For full details of those JTC Group entities that carry on regulated business and certain other JTC Group entities, please visit our website: www.jtcgroup.com/legal-and-regulatory.
