JTC hits Irish milestone with business line debut

The service provider launched a new offering following acquisitions over the past year.

Jersey-based service provider JTC announced that it has rolled out fund administration services in Ireland. The business line is its latest in the country after launching depository and corporate services, along with its Alternative Investment Fund Manager offering.

Graham Kennedy

The business line’s launch comes after JTC got the nod from the Central Bank of Ireland, the firm said. It noted that its fund administration services will encompass fund financials preparation, fund accounting, AML, transfer agency and FATCA/CRS.

Graham Kennedy, who is CEO for JTC Fund Solutions (Ireland) Limited, is overseeing the offering.

JTC also cited a pair of acquisitions it made last year – INDOS Financial and Ballybunion Capital Limited – in helping it expand its domestic lineup. The service provider has two Irish offices, located in Dublin and in Enniscorthy.

The company has broadened its offerings within the past year in other markets, an external spokesperson told Private Funds CFO, citing its acquisitions of US-based SALI Fund Services and UK-based perfORM Due Diligence Services.

The company doesn’t have plans to expand into new markets on an organic basis, a spokesperson for JTC told Private Funds CFO. However, he added that “we are working to enhance service lines” citing treasury, tax compliance and governance.

The spokesperson also touched on the M&A side, stating, “we are open to deals across a range of geographies, but we do have a strategic focus on the US, Ireland, Luxembourg and the UK at present.”