JTC Snaps Up Trust, Wealth Structuring Business From Merrill Lynch

Josh O'Neill

30 May 2017

's international trust and wealth structuring business.

Around 70 Merrill Lynch staff will join JTC, which will sees its number of employees rise to nearly 600.

The firm will also set up shop in the Isle of Man, giving it a presence in 20 jurisdictions including the Cayman Islands, Geneva, London, Miami and Singapore.

JTC and Merrill Lynch have entered into a strategic relationship whereby JTC will offer various trust administration services to new and existing advisory clients.

Merrill Lynch will retain its international wealth management business, including its brokerage accounts, trust assets and international financial advisors.

“JTC is passionate about providing the very best private client services, as our 30-year track record in supporting high and ultra-high net worth clients proves,” said Nigel Le Quesne, chairman and chief executive of JTC. “We look forward to demonstrating to incoming clients that JTC is a fantastic fit for their administration and wealth structuring needs and for our new colleagues, we will provide an innovative, dynamic and client-focused environment in which to work and grow.”

Don Plaus, head of Merrill Lynch’s Private Banking and Investment Group, International and Institutional, said: “We are pleased to be able to offer our clients access to this award winning provider of wealth structuring and trust services. We believe our clients will benefit from their deep experience in trust administration and structures in our key markets.”