19 August 2024
JTC
PLC
(the
"Company" and together with its
subsidiaries "JTC" or the "Group")
Proposed
acquisition of the Buck UK and European Share Plan Administration
and Trustee Businesses
Further
strengthens JTC's Employer Solutions business, enhances
capabilities and expands client base
JTC, the global professional
services business, is pleased to announce the proposed acquisition
of the Buck UK and European Share Plan
Administration and Trustee Businesses from
Arthur J. Gallagher & Co. ("Buck Share Plans"). With operations in the UK, Guernsey and Germany, Buck Share
Plans provides fully outsourced administration and trustee services
to a blue-chip global client base, covering a full range of
employee share plans.
The proposed acquisition will
complement and enhance JTC's existing Employer Solutions platform,
which continues to deliver attractive growth for the Group. Buck
Share Plans will accelerate the growth of the Group's share plan
trustee and administration service offering, as well as bring with
it an existing book of high-quality, long-standing blue-chip
clients, and an experienced, client focused and committed team of
16 professionals based in the UK, Guernsey and Germany.
The transaction remains subject to
various closing conditions and regulatory approvals.
About JTC Employer
Solutions
JTC Employer Solutions, a part of
its Institutional Client Services Division, has a heritage spanning
more than 25 years as a market leader in retirement and share plan
services.
With over 500 corporate clients, JTC
Employer Solutions provides a broad range of trustee and
administration services to share plans, deferred compensation plans
and international retirement and savings plans. JTC Employer
Solutions serves its global client base from offices in Jersey,
Guernsey, London and Edinburgh and the businesses to be acquired
will be integrated into JTC Employer Solutions' well-developed
platform.
Nigel Le Quesne, CEO of JTC,
said: "This acquisition is exciting for us
as share plan services are closely aligned with our own shared
ownership philosophy, which has been at the heart of JTC's culture
since 1998. We believe that our passion for shared ownership,
combined with the 25-year track record of our Employer Solutions
business, continues to cement our position as a market leader. The
JTC Employer Solutions business continues to grow strongly, and we
are pleased to be able to further expand our employee share plan
offering."
David Piltz, CEO of Gallagher's Benefits & HR Consulting
Division in the UK said: "JTC's
values define who they are as an organisation, with service
excellence at the heart of everything they do. From a Gallagher
perspective, cultural fit was such an important factor in our
decision to undertake this deal with JTC. It was crucial to us that
our people and our clients would be moving to an organisation which
shared Gallagher's values and focus on both exceptional client
service and a collaborative, supportive and inclusive working
environment."
For
further information please contact:
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JTC
plc
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Nigel Le Quesne, Chief Executive
Officer
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Tel: +44 (0) 1534 700
700
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Martin Fotheringham, Chief Financial
Officer
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Tel: +44 (0) 1534 700
110
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David Vieira, Chief Communications
Officer
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Tel: +44 (0) 7797 735 444
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Camarco (Financial PR)
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Geoffrey Pelham-Lane
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Tel: +44 (0) 7733 124
226
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Sam Morris
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Tel: +44 (0) 7796 827 008
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About JTC
JTC is a publicly listed, global
professional services business with deep expertise in fund,
corporate and private client services. Every JTC person is an owner
of the business and this fundamental part of our culture aligns us
with the best interests of all of our stakeholders. Our purpose is
to maximise potential and our success is built on service
excellence, long-term relationships and technology capabilities
that drive efficiency and add value.
www.jtcgroup.com
