JTC has significantly enhanced its global fund servicing capabilities with the acquisition of Kleinwort Benson’s Fund Administration business in South Africa, Guernsey and Jersey.

Following an initial announcement in July, the transaction gives JTC its first permanent presence in South Africa, taking the company’s global headcount to over 450 staff and cementing its position as one of the most dynamic growth companies in the sector.

Nigel Le Quesne, JTC Group CEO and Chairman, said: “The conclusion of this acquisition marks another step in our journey as we strengthen our position as a leading global provider of fund services.”

“While this is the largest acquisition JTC has undertaken to date, our focus now is to provide a seamless experience for clients and staff and delivering first-class service will be the top priority throughout the integration process,” he said.

Le Quesne added that with its strength across the alternative asset classes, particularly real estate, private equity and debt funds, Kleinwort Benson’s fund administration business is a good fit for JTC.

Kleinwort Benson provides private banking and wealth management services to private clients, families, business owners and entrepreneurs throughout the UK and globally.

Martha Boeckenfeld, CEO of Kleinwort Benson, said: “Moving our fund administration business to JTC leaves us free to focus on our core activities for the benefit of clients and the business going forward. JTC enjoys an excellent reputation for client service, is renowned for being a good employer and the move further illustrates our commitment to both our clients and staff.”

The new business forms part of JTC’s Institutional Services division globally.

Staff in South Africa remains in their offices in Cape Town, whilst in Guernsey the combined business will operate from Dorey Court in St Peter Port, and the Jersey team will move to JTC’s offices in St Helier.

JTC is a multi-jurisdictional, independent provider of corporate, fund and private client services.

Established for over 25 years, JTC has significant global experience and $56bn assets under administration.