JTC Group, an independent provider of private wealth, corporate, employee benefit and fund administration services, has acquired Guernsey-based Ardel Fund Services.
AFSL, formerly Bachmann Fund Administration, was established in Guernsey in 1993. The team administers investment funds across a variety of asset classes, utilizing both open and closed-ended companies, unit trusts and limited partnerships.
With established fund services businesses in Jersey and Luxembourg, the move forms part of JTC’s broader international expansion plans. Jersey-headquartered JTC offers fund administration services across the full range of fund types within a diverse range of asset classes. It provides administration services to both closed and open ended funds established in Jersey, Guernsey and Luxembourg, as well as services to other non-domiciled fund structures in jurisdictions such as the Cayman Islands and the BVI.
A total of 13 AFSL staff will join JTC Group, with the combined team operating from AFSL’s premises in St Peter Port, Guernsey.
Nigel Le Quesne, CEO and chairman of JTC said: “This is an important strategic acquisition for JTC Group, giving us a much bigger presence in Guernsey and is another step towards strengthening a more global offering for our clients.”
Rick Brooks, CEO, Ardel Holdings further commented: “Ardel has been looking for some time at opportunities that exist to focus exclusively on investment in the development and growth of our core fiduciary business. We are delighted that, in doing so, we have been able to protect and enhance the opportunities that will be available to the AFSL team through their transfer to JTC.”
Paul Duquemin, managing director of AFSL will take on the role of managing director for JTC Group in Guernsey.
JTC Group Acquires Guernsey-based Ardel Fund Services
JTC Group, an independent provider of private wealth, corporate, employee benefit and fund administration services, has acquired Guernsey-based Ardel Fund Services.