Mark Clubb

Jersey-based wealth manager TEAM has announced its purchase of £1.3 billion-AUA JCAP Treasury Services, a provider of cash management services which is also based on the island.

TEAM, which is listed on AIM, will pay up to £2.95 million – £2.2 million cash and the remainder in newly-issued shares. The net tangible current assets of JCAP, of approximately £700,000 are being acquired on a pound for pound basis, in addition to ...