JTC describes FRTC-DE as “highly complementary” to its previous acquisitions of South Dakota Trust Company (SDTC) and New York Private Trust Company (NYPTC).
The proposed deal, which is subject to customary closing conditions, will see FRTC-DE and its $9 billion worth of assets under administration absorbed into JTC’s private client services division.
The company says the addition of FRTC-DE into the division will “provide opportunities to increase share of wallet in the wider private client services market in the US”, a remit that is to be bolstered by FRTC-DE’s private office offering and corporate, accounting, regulatory reporting, and family governance services.
