JTC, the C.I.-based funds and corporate services provider, has agreed to acquire NES Financial, a U.S.-based provider of specialist fund administration services. Founded in 2005, NESF has 58 employees, all of whom will join JTC, delivering services from Boston, Massachusetts, where its fund administration operation is based, and San Jose, California, which is the company’s corporate headquarters and technology development centre of excellence. NESF provides fund administration, treasury and related services to a broad client base including private equity, real estate and debt funds. Michael Halloran, the founder and also chairman & CEO of NESF, will become JTC’s global head of technology strategy and join the JTC group holdings board.
