JTC Group acquires Geneva based trust firm

Wednesday 20 November 2013

JTC Group acquires Geneva based trust firm

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JTC Group has acquired Ardel Trust Company (Switzerland) SA (ATCSA) based in Geneva.

ATCSA formerly known as Bachmann Trust Company SA, which was established in 2002, is a full service trust company providing foundations, company and trustee services.

Nigel Le Quesne, Group CEO and Chairman of JTC Group, commented:

“The company is a long established private wealth operation in Switzerland which has grown rapidly. It has an excellent reputation, with skilled multi-lingual employees and high calibre international clients. This latest acquisition is part of our broader international growth strategy and complements other deals completed this year, including the purchase of Ardel’s third party fund administration business in Guernsey, the opening of a representative office in the USA and a significant strategic alliance in Asia encompassing Singapore, Hong Kong and Kuala Lumpur amongst others.”

ATCSA’s 13 staff in Geneva, led by Martin Pugh, are joining the JTC Group and the business will continue to operate from its Geneva offices.

Martin Pugh, who remains Managing Director of the new Swiss business, added:

“This is an exciting development, which will significantly enhance our capabilities in providing clients with multi-jurisdictional solutions for their private wealth needs. Our existing clients should notice no change to their relationship with us and it remains business as usual.”

Mr Le Quesne concluded:

“The decision to acquire the Geneva trust business brings further strength in depth to our private wealth offering, adds to our capabilities in providing multi-jurisdictional solutions and, importantly, provides the Group with a stronger presence in a traditional private wealth jurisdiction which remains a leading centre for fiduciary business.

“It will also provide an important platform for us to develop our business in Latin America, where clients are familiar with the attractions and legislative features of Switzerland.”