JTC, a provider of fund, corporate and private client services, completed the acquisition of NES Financial, a privately held company that provides services for financial transactions, for $40m. "The US is a key growth market for the Group and we believe that NESF is the perfect partner and platform to drive the strategic expansion of our ICS Division and in particular our US fund administration business. We have been in dialogue with the NESF team for around a year as a potential partner and provider of technology services and we are delighted to welcome them to the Group. NESF is much more than just a US-based fund administrator; it brings to the Group world-class technology capabilities developed in Silicon Valley, a hugely experienced and talented management team and staff, and a high quality client book that encompasses private equity and real estate and market leading positions in several niche sectors. We are delighted to welcome our new colleagues, clients and partners to the Group and are excited for the future potential of this strategic acquisition," Nigel Le Quesne, JTC CEO.