JTC has been appointed to provide fund administration and registrar services to the new international funds business of Brooks Macdonald International.
The mandate result follows Brooks Macdonald’s recent announcement of its acquisition of Lloyds Bank International’s Channel Islands funds and wealth management business.
Provider of fund, corporate, and private client services JTC will administer its multi-jurisdictional capabilities through teams based in Jersey, South Africa, and the UK.
Jon Jennings, group head of institutional client services at JTC, commented: “This is a hugely significant piece of business for us, reflecting our stature in the fund administration arena, our multi-jurisdictional strength, and our specialist expertise in open-ended funds and registrar services as well as transfer agency and compliance services.
He continued: “It is particularly pleasing to have won this business during lockdown circumstances, demonstrating our resilience as a business, whilst we also recognise how important this acquisition is for Brooks Macdonald in terms of its growth ambitions in the Channel Islands.”
Richard Hughes, deputy CEO of Brooks Macdonald, added: “JTC impressed us throughout the selection process for a fund administration partner. Ultimately our selection came down to JTC’s track record in fund administration, use of best of breed technology, quality team and depth of resources. We look forward to developing a strong partnership with them for the long term.”
The acquisition is subject to regulatory approval and is expected to be completed later this year.
