Global professional services business JTC Group reported higher revenue and new business growth last year, according to its latest annual report.
The company said revenue rose 25.1% to £381.9m for the year ended 31 December 2025. Profitability also improved, with underlying earnings (EBITDA) increasing 22.4% to £124.5m. Profit margins remained steady at 32.6%.
New business wins reached a record £43.5m, up 21.8% compared with the previous year.
JTC said growth came from a mix of new client activity and acquisitions. Organic growth – which excludes deals – was 8.5% for the year.
Both of the company’s main divisions expanded. Its institutional services arm generated £211.1m in revenue, while its private client division brought in £170.8m. Growth was particularly strong in the United States and Caribbean markets.
During the year, JTC completed two acquisitions: a global fiduciary and trust administration business previously owned by Citi, and Kleinwort Hambros Trust Company from Union Bancaire Privée. The company said both businesses are now being integrated.
Debt levels increased following these deals, with leverage rising to 2.2 times earnings, though JTC said this was expected.
JTC is in the process of being acquired by Permira in a deal valuing the business at around £2.7bn, or £13.40 per share.
Shareholders approved the transaction in January 2026. Regulatory approvals are still pending, and the deal is expected to complete in the third quarter of 2026, subject to final conditions.
The company indicated that 2025 may mark its final full year as a publicly listed business.
Chief executive Nigel Le Quesne said: “This is most likely the last time that I will present a CEO review as a listed business.
“I would like to take this opportunity, both personally and on behalf of everyone at JTC, to say that we have enjoyed our time as a public company immensely.
“We are grateful for the support and advice we have received during this time from shareholders, advisers and our non-executive colleagues.”
He continued: “In 2025, we delivered a resilient performance against a backdrop of global markets that remained challenging.
“Organically, we once again achieved record new business wins, strengthening and deepening our client book for years to come.
“Inorganically, we secured two more bank carveout transactions that represent excellent value and enhance our position as the world’s leading independent trust company.
“Our latest era, Cosmos, began in 2024 and aimed to once again double the size of the Group by the end of 2027.
“As we have reported previously, the business has performed ahead of schedule to this plan, which given global economic conditions and geopolitical activity in the period, is testament to the resilience of our model and the quality of our platform and our people.
“As we now look to a future under private ownership, it makes sense to draw a line under the Cosmos era plan, which we regard as materially complete, and move into a new era, Genesis, that coincides and aligns with this fundamental change.
“While our overall ownership structure may be transitioning from public to private, our culture of shared ownership remains firmly at the heart of what makes JTC a special and unique business.”
