Trusts

Jersey-based JTC will pay $80 million for Citigroup's global fiduciary and trust administration services business.

Jordan Summers, formerly the Detroit bank's chief fiduciary officer, succeeds Robert Sajdak as CEO. Sajdak recently retired after leading Credit Union Trust since its 2018 launch.

ATG Trust, which has $387 million of assets under management, handles land trusts and administers court-supervised guardianships.

The Indiana company agreed to acquire Hoosier Trust, which manages about $300 million in assets.

Credit Union Trust, a new credit union service organization, has obtained a bank charter that it will use in offering trust and investment-related services.

The company will open its first office in Iowa after buying the business from Bankers Trust.

Credit Union Trust is targeting a Q1 2019 opening, pending regulatory approval.

Southeastern Trust is being sold to a group led by the unit's management team.

The purchase will significantly increase Hancock's assets under management and administration.

The deal includes roughly 120 client relationships. Employees in CenterState's trust department will join Cypress Trust.