The deal was first announced in April 2017.

Independent funds provider JTC has completed its acquisition of New Amsterdam Cititrust (NACT) after receiving regulatory approval. It was first announced in April 2017.

This deal will strengthen JTC’s presence in Europe and expand its operation in the Netherlands, the firm said in a statement.

The financial terms of the deal were not disclosed.

"This extension of our presence in the Benelux region via the acquisition of NACT strengthens and deepens our offering to both institutional and private clients,” said JTC Group chief executive & chairman, Nigel Le Quesne. “The team at NACT are multi-lingual with a vast experience and understanding of corporate structuring and regulation within Europe, enabling us to effectively service a client portfolio ranging from entrepreneurs and their families to venture capitalists, private equity firms and publicly listed companies."

NACT was founded in 1981 and it provides a range of corporate and administration services, including: company formation, corporate management, administration, accounting, financial reporting and legal and secretarial services.