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jtc buys anson funds adminstration biz

2 Dec 13

Financial service support firm Anson Group has sold its funds administration business to the JTC Group.

Financial service support firm Anson Group has sold its funds administration business to the JTC Group.

In addition, JTC has also acquired Anson Fund Services (UK) and its 18 staff based in Hampshire.

It is JTC’s second acquisition this year, following its purchase of Ardel Fund Services in April. 

According to Anson Group chair Richard Conder, while the group sought to grow its fund administration business over five years, the firm’s biggest “handicap” was the lack of a multijurisdictional offering.

He added: “The JTC Group has that capability and can already deliver solutions in Guernsey, Jersey, Luxembourg, the BVI, the Cayman Islands and, now with this acquisition, also in the United Kingdom."

Anson will continue to own and operate its Crest-compliant share registration business, Anson Registrars, operating through its offices in Guernsey, the UK, the Cayman Islands and the BVI.

Andson chief executive John Le Prevost said in a statement: “Our registration business has always operated in the shadow of our fund administration business, yet I have viewed Registrars as being the group’s jewel in its crown. Now we have the opportunity to exploit that potential and this we intend to do.”

According to Anson, the remaining staff will work on growing its Registrar services and developing some new complementary services.

Tags: JTC Group

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.