JTC completes GAM Cayman buy

Independent institutional and private client service provider JTC Cayman has confirmed the completion of its acquisition of GAM’s fund administration business based there. The firm announced the acquisition in October, and full regulatory approvals from the Cayman Islands Monetary Authority have now been granted.

JTC Group CEO & Chairman, Nigel Le Quesne, said: “JTC’s strategy is very much about enhancing both our institutional and private client services in key financial centres in order to provide clients with a seamless, global and comprehensive service. Our expansion in the Cayman Islands is a significant part of that, following other recent acquisitions in the same sector including our purchase of Kleinwort Benson’s fund administration business, as we focus on continuing to add real value to our clients now and in the longer term.”

The new operation will continue to be led by managing director Christine Godfray, previously chief executive officer of GAM’s fund services business known as Swiss & Global Fund Administration (Cayman) Ltd. She will work with colleagues in JTC’s offices around the world to attract fund administration and corporate services business to the Group and the Cayman Islands.