JTC: Building Success through Shared Ownership

It was a year ago that JTC, the fund, corporate and private wealth services business, listed on the London stock exchange. They say it’s been a successful year, but the business’s ethos of shared ownership isn’t just about going public – it’s at the heart of the organisation and the reason why a small company formed in 1987, is now a global leader. Gwyn Garfield-Bennett went to meet Nigel Le Quesne, chief executive officer of JTC.

Headquartered in Jersey, but with offices in Guernsey and all over the world, the business started in a small office on the Esplanade before moving on to larger premises. In 2017 it returned to the Esplanade with 200+ staff in JTC House and around 650 employees globally.

Last year was a momentous one for JTC because it listed on the London stock exchange and it was, says Nigel Le Quesne, ‘very much a coming of age for the business itself.’

They’ve made two acquisitions in the year, but Nigel is comfortable that they will meet result expectations, and he’s enjoying being viewed as an ‘overnight sensation’, despite it being over 30 years in the making.  ‘We've grown for at least 29 of those 31 years so we're used to having a good year. From a trading point of view, we're very comfortable. From the business’s point of view, it was appropriate for us to list at this stage because I think we'd  reached a point where we were worthy of being a listed company and the business deserved to be in the spotlight in the way it has been.’

Despite being a global business, Jersey is still the head office and core of the group. The top five or six executives are here and it’s where the board meetings happen and the company is registered.

Over the 30 years the industry itself has changed tremendously, says Nigel, ‘It's gone from being a local industry, where you’d pick your provider in one jurisdiction, to obviously having businesses that are multi-jurisdictional.  Over time, and before we actually even started acquiring businesses, we started to open offices in other localities. It was really important to a lot of clients to have consistency of delivery.’

Nigel also thinks that although the industry has gone through a period of consolidation, there’s more to come...

You can read the full interview with Nigel in April's issue of Business Brief