Guaranty Trust Holding Company Plc (GTCO Plc), the parent company of Guaranty Trust Bank, has announced its acquisition of 100 per cent shares in Investment One Funds Management Limited and Investment One Pensions Managers Limited.
According to the holding company, the acquisition is in line with its business scope to offer broadened services to their clients.
GTCO Plc in a statement signed by Group Corporate Communication, GTCO, Oyinade Adegite, said the Nigerian Exchange Limited (NGX) had been notified adding that all regulatory approvals have been obtained for the Acquisition and commencement of operations of the companies.
“Guaranty Trust Holding Company Plc (GTCO plc), is pleased to inform The Nigerian Exchange Limited and the investing public of the completion of the acquisition of 100% shares in Investment One Funds Management Limited, “GTCO said.
Commenting on the completion of the acquisition, Group Chief Executive Officer of GTCO Plc, Mr. Segun 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, we are 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.”
Agbaje added, “This 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. 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.”
On its part, Investment One Pensions Managers Limited, it added: “Guaranty Trust Holding Company plc (GTCO Plc), is pleased to inform The Nigerian Exchange Limited and the investing public of the completion of the acquisition of 100% shares in Investment One Pensions Managers Limited (“the Acquisition”).