Maples Group Advises Citi on the Sale of Citi Trust’s Global Fiduciary Business to JTC Plc

Maples and Calder, the Maples Group’s law firm, is pleased to have advised Citi on the proposed sale of its Citi Trust global fiduciary and trust administration services business to a subsidiary of JTC PLC.

Citi Trust provides trust solutions, operating from New York, Delaware, South Dakota, Jersey, Singapore, Switzerland and the Bahamas, and has total AUA in excess of $70 billion. This strategic acquisition marks a significant development in the global fiduciary services sector and further expands JTC’s global private client services offering.

The Maples Group’s legal team in the Cayman Islands was led by Partners Finn O’Hegarty and Anthony Mourginos, with assistance from Associates Tricia Cacho, Akshay Naidoo and Laura Goucke. The team advised Citi on all Cayman Islands legal aspects of the transaction, working alongside international counsel Clifford Chance, who served as lead legal advisor to Citi.

Finn O’Hegarty, Partner, commented, “It was a pleasure working with Citi on this significant transaction. Deals of this scale and complexity are always rewarding to be part of, and we’re glad to have brought our Cayman Islands expertise to the table. This is a great example of how our team helps clients navigate major cross-border transactions smoothly and efficiently.”

The successful transaction underscores the Maples Group’s continued strength in advising on complex, cross-border corporate transactions in the financial services sector.