JTC has significantly increased its presence and offering in Luxembourg through the acquisition of Signes, a noted Luxembourg-based ‘Expert Comptable’ business that provides accounting, administration and tax compliance services to institutional investors.
The firm has now been re-named JTC Signes and operates as a sister company to JTC’s own Luxembourg operation, which was established in 2009, is regulated by the CSSF and specialises in fund administration, corporate and real estate services.
Signes was established in Luxembourg more than 15 years ago and employs 29 people led by co-founders Eric Biren and Vincent Goy who continue in their roles following the acquisition. Their senior management team is additionally strengthened by Raphael Poncelet who is a partner in the firm. JTC Signes remains at its offices in boulevard de la Petrusse and JTC’s existing Luxembourg team has subsequently moved from its previous location to join them.
Nigel Le Quesne, JTC Group CEO and Chairman, commented:
“The deal supports our expansion strategy enabling us to accelerate our European growth from Luxembourg, recognised as such an important financial services centre in the heart of Europe, while also introducing a high quality book of business to the Group. Following our recent acquisition of the Kleinwort Benson fund administration business in the Channel Islands and South Africa, this transaction is further evidence of our commitment to building our institutional client services capabilities in key financial centres worldwide to meet increasing demand from new and existing clients.”
Together Vincent Goy, JTC Signes Chairman and Eric Biren, Managing Director, added:
“The transaction with JTC is very much based on our entrepreneurial synergies and gives us the unique opportunity to expand our own service offering, take our clients into the regulated world and join the growing successful international network that JTC is now synonymous with.”