Abi Holland has been promoted to CEO of INDOS Financial, a JTC Group company. In her new role, Abi will lead the INDOS team across the UK and Ireland and oversee the business . | May 9, 2023
JTC closes Indos acquisition
Specialist fund administrator JTC has completed its acquisition of depositary bank Indos Financial.
Jersey-based JTC paid £11 million (€12.8 million) in a deal that was announced back in February.
More than 50 Indos employees, including founder and chief executive Bill Prew, will become part of JTC’s Institutional Client Services division but the Indos brand will be retained “to demonstrate the integrity and independence of its depositary services under the Alternative Investment Fund Managers Directive (AIFMD)” according to a statement from JTC.
The specialist fund administration market has been the subject of a number of acquisitions in recent months, partly in response to growing investor demand for private assets.
JTC Group Enters into a Definitive Agreement to Acquire Alternative Investment Fund Specialist INDOS
JTC Group Enters into a Definitive Agreement to Acquire Alternative Investment Fund Specialist INDOS
SAN JOSE, Calif., Feb. 23, 2021 /PRNewswire-PRWeb/ Global fund administrator JTC Group announced the acquisition of INDOS, an industry-leading specialist in the provision of depositary, ESG and AML oversight services for alternative investment funds.
INDOS is being acquired from its management team and a group of private shareholders. All employees, including INDOS founder and CEO Bill Prew and his senior management team, will join JTC, becoming part of the Institutional Client Services (ICS) Division. The transaction is subject to FCA regulatory approval and is expected to be completed by the end of Q1 2021.
JTC Group Enters into a Definitive Agreement to Acquire Alternative Investment Fund Specialist INDOS
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Latest acquisition to complement JTC’s existing global fund administration capabilities
INDOS’ leadership in depository oversight for alternative investment funds, extensive ESG services, along with Cayman fund oversight and AML compliance capabilities, are highly complementary to our US client base and our existing practices in depository administration and impact investing. SAN JOSE, Calif. (PRWEB) February 23, 2021 Global fund administrator JTC Group announced the acquisition of INDOS, an industry-leading specialist in the provision of depositary, ESG and AML oversight services for alternative investment funds.
INDOS is being acquired from its management team and a group of private shareholders. All employees, including INDOS founder and CEO Bill Prew and his senior management team, will joi