Citi Trust to be acquired by JTC

Citi Trust handles $70b of assets owned by UHNW clients.

Professional services provider JTC is acquiring Citi Trust.

Citi Trust is the global fiduciary and trust administration services business of Citigroup’s wealth arm.

Citi first announced its intention to sell its wealth unit’s trust business in August.

Citi Trust operates in seven jurisdictions across the USA, Europe, Singapore, and the Bahamas. It handles $70b in assets under advisory (AUA) across 2,000 ultra high net worth (UHNW) clients, with an average tenure of over 12 years.

The acquisition will bring in Citi Trust’s senior management team, JTC said in a press release.

The amount to be paid for the proposed acquisition is yet to be disclosed.

Follow the link s for more news on

Citi

Citi Global Wealth

Citibank

Citigroup

Also Read

SMBC joins Project Agora to explore tokenized cross-border payments

Malaysia's bid for BRICS membership to spur banking overhaul

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit