NES Financial is a privately held company that provides
services for
financial transaction
A financial transaction is an agreement, or communication, between a buyer and seller to exchange goods, services, or assets for payment. Any transaction involves a change in the status of the finances of two or more businesses or individuals. A ...
s. The company focuses its services on
1031 exchanges, EB-5, and
escrow
An escrow is a contractual arrangement in which a third party (the stakeholder or escrow agent) receives and disburses money or property for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacti ...
, and fund administration. NES Financial is based in
San Jose, California
San Jose, officially San José (; ; ), is a major city in the U.S. state of California that is the cultural, financial, and political center of Silicon Valley and largest city in Northern California by both population and area. With a 2020 popul ...
and maintains a regional office in Boston.
History
The company was originally named Nationwide Exchange Services Corporation: it was founded in
Silicon Valley
Silicon Valley is a region in Northern California that serves as a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical areas San Mateo County ...
in 2005.
In 2011 and again in 2012, Inc. Magazine's 500, 5000 recognized NES Financial as one of the fastest-growing private companies in America with its three-year growth hitting 179%.
It was bought by
JTC plc for $40 million in April 2020.
The company rebranded to JTC Americas in April 2021.
Acquisitions
In October 2006, NES Financial acquired Cole Taylor Tax Deferred Exchange, a division of Cole Taylor Bank.
In November 2008, JP Morgan Property Exchange (JPEX) from
JP Morgan Chase.
Financial Reform Efforts
Following the
financial crisis of 2007-2008, NES Financial focused its efforts in Washington D.C. Led by CEO Michael Halloran, the company lobbied tirelessly to improved 1031 industry regulations. Despite Halloran's nearly two years worth of efforts, the
Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 did not include additional 1031 regulations.
References
External links
* {{Official website, http://www.nesf.com/
Internal Revenue Code
Real property law
Companies based in San Jose, California