Fiduciary services provider Sanne has agreed to sell its Jersey-based private client business to JTC for up to £12 million.

JTC is a multijurisdictional provider of fund, corporate and private wealth services. The transaction, which will complete during 2020, will expand JTC’s private client services presence in Jersey, with all clients and staff transferring to JTC.

In a statement, Sanne said that the transaction represents an important strategic move in focusing on its core, high growth global alternatives markets. Following the transaction, Sanne's alternatives business will represent over 90 percent of the group'...