Guaranty Trust Holding Company plc (GTCO plc), the parent company of GTBank, on Monday announced the completion of the acquisition of 100 percent shares of two subsidiaries of Investment One Financial Services Limited.
The subsidiaries are Investment One Pensions Managers Limited and Investment One Funds Management Limited. The company made this known to the Nigerian Exchange Limited and the investing public on Monday.
The acquisition is in line with the evolution of the Guaranty Trust brand in becoming a fully-fledged financial services company, with the capabilities and drive to deliver end-to-end financial services to every African and African business, said Segun Agbaje, Group Chief Executive Officer of GTCO.
With over 30 years of being a trusted banker to millions of Nigerians and expertise in capital allocation to generate the highest yields for our customers and shareholders; the Pension Fund business is a natural fit for the Guaranty Trust brand.
“Also, our bias for the highest standards in corporate governance will ensure transparency in how we manage the funds under our management, which will ultimately make us the preferred Pension Fund Administrator, not only in the Nigeria market, but also in Africa, ” he said.
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“Whilst evolving as an organization, we remain committed to our founding values of excellence, hard work and integrity, as we continue to build a Proudly African and Truly International brand for millions of people in and outside of Africa,” Agbaje said.
Following the completion of the acquisition, the new subsidiary will function primarily as a Pension Fund Administrator to the general public.
All regulatory approvals have been obtained for the Acquisition and commencement of operations of the Pension Manager Company.
On Investment One Fund Management, Agbaje said, “We are excited about our foray into the wealth management space, as it provides us with the opportunity of becoming a one-stop shop for financial services and products that will empower our customers through the course of their lives. We will focus on replicating our digital-first customer-centric retail strategy to create distribution channels for wealth solutions that we will offer, to both institutional and retail clients.”
As a dominant leader in financial services, he said the company is positioned to add significant value to the asset management business in Nigeria and compete favorably with the largest global wealth managers in the areas of disclosure, corporate governance and regulatory compliance.
The new subsidiary will provide GTCO Plc the platform to provide technology driven Funds and Investment Management Services designed to meet the unique investment needs of retail and corporate investors.
All regulatory approvals have been obtained for the Acquisition and commencement of operations of the Company.
