The rapidly-expanding financial services firm continued to make gains in the US, among many other achievements from 2022.
SAN JOSE, Calif., April 20, 2023 /PRNewswire-PRWeb/ -- JTC Group continued its streak of providing good news to its shareholders this week with the announcement of full year results for its financial year ending December 31st, 2022, which included significant growth over the previous year, making last year arguably the company's best ever.
JTC is a global financial services leader offering solutions for both institutional and private clients, including fund, corporate, banking, tax compliance, and private office services. With a team of more than 1,500 across 32 offices worldwide, JTC has continued to build on its 35-year history, which includes providing services to 8 of the 10 largest global investment banks and 20% of FTSE 100 companies.
In North America, JTC provides purpose-built solutions to institutional and private clients, allowing US-based clients to expand overseas and international clients to enter US markets. By offering specialized technology-based solutions, an award-winning investor portal with 24/7 access, and a global reach, JTC enables funds of all sizes to achieve greater efficiency, reduced operational risk, and higher investor confidence.
The company posted revenue of more than £200m for the first time in 2022, with growth in all regions, though particularly notable were the company's gains in the United States. The US accounted for $47.5m in 2022, up from $19.7m in 2021, an increase of $27.8m, or 142.9%. The US is now the company's second-largest revenue contributor, with significant growth in both Institutional and Private Client Services.
These impressive figures are due in part to significant new business wins as well as greater synergy brought about by the incorporation of several key acquisitions that have helped strengthen the company's American presence. This includes the 2022 acquisition of New York Private Trust Company (NYPTC), further developing JTC's US domestic trust service offerings.
JTC also launched its Fund Administration services in Ireland, offering greater global alternatives to US-based funds looking to raise or deploy capital in Europe. JTC was named "Fund Administration Challenger of the Year" at the Global Custodian Industry Leaders Awards in New York in recognition of its growth and increased international presence. All these signs point to a positive outlook for 2023 as the company seeks to continue this trend of major business wins and increasing revenue around the globe.
"2022 was arguably our best year ever in my 30-plus years at JTC," said CEO Nigel Le Quesne. "The JTC team has put us in touching distance, within three years, and two years ahead of expectation, of achieving our Galaxy Era goal of doubling the business from where we were at the end of 2020, a remarkable achievement."
To learn more about JTC, please visit jtcgroup.com
About JTC
JTC is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. Every JTC person is an owner of the business, and this fundamental part of our culture aligns us with the best interests of all our stakeholders. Our purpose is to maximize potential, and our success is built on service excellence, long-term relationships and technology capabilities that drive efficiency and add value.
To learn more, visit jtcgroup.com
Media Contact
Laura Kelly, JTC Group, 4083670826, [email protected]
SOURCE JTC Group
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