JTC, the Jersey head-quartered trust company backed by PE house CBPE has acquired the Geneva-based business of Ardel Trust for an undisclosed sum.
JTC Group has acquired Ardel Trust Company (Switzerland) SA (ATCSA), which was part of the Guernsey head-quartered Ardel Group formerly known as Bachmann Trust Company. JTC had already bought Ardel's Guernsey based fund administration business earlier this year.
All 13 staff members are joining the JTC Group and the business will continue to operate from its Geneva offices.
