JTC has announced its proposed acquisition of the Buck UK and European Share Plan Administration and Trustee Businesses from Arthur J. Gallagher & Co.
With operations in the UK, Guernsey and Germany, Buck Share Plans provides fully outsourced administration and trustee services to a blue-chip global client base, covering a full range of employee share plans.
JTC chief executive Nigel Le Quesne said that the proposed acquisition would “complement and enhance JTC’s existing employer solutions platform”.
“Acquiring Buck Share Plans will accelerate the growth of the group’s share plan trustee and administration service offering, as well as bringing with it an existing book of high-quality, long-standing blue-chip clients, and an experienced, client-focused and committed team of 16 professionals based in the UK, Guernsey and Germany,” he added.
“This acquisition is exciting for us, as 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. JTC Employer Solutions continues to grow strongly, and we are pleased to be able to further expand our employee share plan offering.”
David Piltz, chief executive of Gallagher’s Benefits & HR Consulting Division in the UK, said: “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.”
The transaction remains subject to various closing conditions and regulatory approvals.
