JTC PLC (GB:JTC) has released an update.
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JTC PLC has announced its acquisition of Citi Trust, a global fiduciary and trust administration services business, from Citigroup for $80 million, aiming to cement its position as a leading independent provider of global trust services. The deal, expected to complete in the first half of 2025, includes over 2,000 ultra-high net worth client relationships and is forecast to add mid-single digit EPS accretion in 2025 and high single digit in 2026. This strategic move will not only expand JTC’s footprint, especially in the US, but also bring stable revenue through recurring trust administration fees and align with JTC’s M&A strategy.
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