INDOS Financial to be acquired by fund services specialist JTC
Depositary will become part of the JTC group which also consists of the recently acquired NES Financial.
February 15, 2021 9:33 AM GMT
UK-based depositary INDOS Financial has been acquired by JTC, the provider of fund, corporate and private client services.
The acquisition comes almost 12 months after JTC purchased fund administrator NES Financial for $40 million, and marks the fourth in as many years for the fund services provider.
INDOS’ staff across London and Ireland will join the institutional client services division of JTC, and will become shared owners in the business. The transaction is subject to FCA regulatory approval and is expected to complete by the end of March.