JTC acquires Citi Trust for $80 million, expanding its fiduciary services and assets.

JTC, a global provider of fiduciary and corporate services, plans to acquire Citi Trust, a subsidiary of Citigroup, for $80 million. Citi Trust specializes in fiduciary solutions and manages over $70 billion in assets across seven jurisdictions. JTC expects the acquisition to enhance its earnings, projecting mid-single-digit EPS growth in 2025 and high single-digit growth in 2026, marking the first full year post-acquisition.

September 16, 2024
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