China’s Noah Wealth Management has established a managed trust company (MTC) in the offshore financial centre of Jersey in collaboration with JTC.
The Jersey Financial Services Commission issued licence to form a new trust company to Ark Trust (Jersey), a subsidiary of Noah Wealth Management.
Through the new entity, Noah will offer Jersey trust structuring solutions to its client base of over 100,000. JTC will provide ongoing administration services for Ark and any trusts for which it acts as trustee.
JTC head of private client services Iain Johns said: “Enabling Noah to offer its considerable Chinese client base access to Jersey’s high quality, robust trust structures represents a considerable opportunity not only for its clients, but for Noah, JTC and Jersey more widely.”
Noah group president Kenny Lam said: “This is an important development for both Noah and JTC and will allow Noah to deliver a more comprehensive, more professional wealth heritage service to our clients.”
JTC is an independent provider of institutional and private client services with more than £47bn ($70bn) assets under administration. It has workforce of over 450 employees globally.