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JTC completes CEES acquisition


JTC, the global provider of fund, corporate and private client services, has completed its acquisition of RBC cees Limited (CEES) from RBC Holdings (Channel Islands) Limited, part of RBC Wealth Management. 

The acquisition was announced on 10 December 2020 and has now received the necessary regulatory approvals.
CEES is a market leading employee benefits platform with an internationally diverse blue-chip corporate client base. It offers a broad range of employee benefit plans and product structures, is expert in the administration of a number of asset classes and provides client support services as well as administration. 

The acquisition expands JTC’s Institutional Client Services (ICS) footprint in the Channel Islands and the UK, adding approximately 180 employees and a book of over 430 corporate relationships and more than 890 plans.

The acquisition is complementary to JTC’s existing corporate and trustee services and significantly enhances the Group’s employee benefits offering, expanding a service line that has good organic growth potential due to market trends that support the increasing adoption of employee share ownership programmes.
Nigel Le Quesne, CEO of JTC, says: “We are delighted to welcome our new colleagues and clients to the Group. The CEES business is a leader in the employee benefits market with a blue-chip client base and excellent people. The fit with our ICS Division is exceptional and I am delighted that its core service offering is so closely aligned with JTC’s strong shared ownership culture, which has been one of our key differentiators for over 22 years.
“We believe that there is increasing demand for these solutions globally. We expect enhanced financial performance over the medium-term once fully integrated onto the JTC platform, as well as good organic growth opportunities over the medium and long-term, and cross-sell opportunities with our Private Client Services (PCS) Division.”

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