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JTC has announced its intention to acquire Buck UK and its European administration and trustee business.
The deal, which is subject to regulatory approval, would see JTC expand its employer solutions platform and take on several blue-chip clients as well as 16 new staff members from the UK, Guernsey and Germany.
Buck is currently owned by the insurance brokerage, risk management and consultancy firm Gallagher&Co.
Nigel Le Quesne, CEO of JTC, said: “This acquisition is exciting for us given share plan services are closely aligned with our own shared ownership philosophy, which has been at the heart of JTC’s culture since 1998.
“We believe that our passion for shared ownership, combined with the 25-year track record of our Employer Solutions business, continues to cement our position as a market leader. The JTC Employer Solutions business continues to grow strongly, and we are pleased to be able to further expand our employee share plan offering.”
David Piltz, CEO of Gallagher’s Benefits & HR Consulting Division in the UK added: “JTC’s values define who they are as an organisation, with service excellence at the heart of everything they do. From a Gallagher perspective, cultural fit was such an important factor in our decision to undertake this deal with JTC.
“It was crucial to us that our people and our clients would be moving to an organisation which shared Gallagher’s values and focus on both exceptional client service and a collaborative, supportive and inclusive working environment.”
Pictured (top): Nigel Le Quesne.
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