JTC announced the proposed acquisition of the global fiduciary and trust administration services business, or Citi Trust, from Citigroup Inc. for a total consideration of $80 million. Citi Trust provides a full suite of fiduciary solutions and has extensive cross-border experience, operating from seven trust jurisdictions globally.
The total AUA serviced by Citi Trust is in excess of $70 billion. JTC expects the acquisition to deliver mid-single digit EPS accretion in 2025 and high single digit EPS accretion in 2026, the first full year of ownership.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.