Global professional services provider JTC has acquired Kleinwort Hambros Trust Company (CI) from Swiss wealth and asset manager Union Bancaire Privée, UBP SA.
KHT will sit in JTC’s private capital services division and scale up JTC’s operations in the Channel Islands and the UK.
A team of around 90 people based in Jersey, Guernsey and London have joined JTC as part of the deal.
Nigel Le Quesne, CEO of JTC, said: “We are delighted to welcome the highly experienced KHT team and its clients to JTC.
“This acquisition is key for the group and our private capital services division, increasing our presence in Jersey, Guernsey and the UK, including adding a UK trust company business for the first time, and creating future growth opportunities.”
Guy de Picciotto, CEO of UBP, added: “This transaction reflects UBP’s continued strategic focus on our core private banking and asset management activities while ensuring that KHT clients and employees join an organisation that shares our commitment to excellence and client-centric mindset.
“We thank the JTC team for their collaboration throughout this process and wish them every success in the future.”
