Jersey-based JTC has agreed to buy the private client business of Sanne.
The deal will include the transfer of Sanne’s clients and its Jersey-based private client staff.
JTC’s private client division is a provider of trust and corporate services to ultra-high and high net worth individuals and families in more than 100 countries.
The transaction is expected to be completed in Q2 2020 and the financial terms of the deal were not disclosed.
Exit
Martin Schnaier, chief executive of Sanne Group, said that the firm was selling off its private client business “to focus its global operations on the growing alternatives and corporate sector”.
Nigel Le Quesne, chief executive of JTC, said: “Our Jersey platform continues to deliver strong commercial performance, and we look forward to using our extensive acquisition experience to ensure a positive and seamless transition for both clients and new colleagues.”
