Global professional services provider JTC has completed its acquisition of Citi Trust as it broadens its private client services division.
The deal, which was first announced in September 2024, was finalised yesterday (1 July) following regulatory approval. Approximately 300 professionals from Citi’s global offices will join JTC, including a senior management team.
Rob Laughlin, former head of Citi Trust and wealth planning, has also joined JTC as group director, private client services.
The acquisition of the global fiduciary and trust administration services business will bolster several of JTC’s key growth jurisdictions, including the United States, the Caribbean, Asia and Europe, the group said.
Nigel Le Quesne, CEO of JTC, said: “This is a transformational transaction for the group and our private client services division; it increases our presence in key growth markets in the United States, Europe and Asia, and it brings further resilient annuity-driven revenue to the group, as well as future growth opportunities.”
Valentin Valderrabano, COO at Citi Wealth, added: “With the completion of this transaction, our clients will benefit from JTC’s dedicated focus on global trust administration and broader fiduciary services.”
