REG - JTC PLC - Acquisition: Buck UK/EU Share Plan Admin & Trustee

JTCAnnouncement

19/08/2024 07:00

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RNS Number : 8719A  JTC PLC  19 August 2024

 

 

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:

 

 JTC plc
 Nigel Le Quesne, Chief Executive Officer      Tel: +44 (0) 1534 700 700
 Martin Fotheringham, Chief Financial Officer  Tel: +44 (0) 1534 700 110
 David Vieira, Chief Communications Officer    Tel: +44 (0) 7797 735 444

 Camarco (Financial PR)
 Geoffrey Pelham-Lane                          Tel: +44 (0) 7733 124 226
 Sam Morris                                                Tel: +44 (0) 7796 827 008

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 (http://www.jtcgroup.com/)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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