Jtc Plc (GB:JTC) has released an update.
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JTC PLC announces its strategic move to acquire First Republic Trust Company of Delaware LLC (FRTC-DE), a subsidiary of JPMorgan Chase Bank, which manages approximately $9 billion in assets. This acquisition aims to strengthen JTC’s presence in the U.S. trust administration market and is expected to be financially beneficial, being accretive to EPS in the first year. The $21 million deal, yet to receive regulatory approvals, complements JTC’s recent acquisitions and expands their service offerings in the fast-growing private client services sector.
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