Guaranty Trust Holding Company Plc (NGX: GTCO) has completed the acquisition of 100% shares in Investment One Funds Management Limited, and Investment One Pension Managers Limited.
GTCO informed The Nigerian Exchange Limited and the investing public of the acquisitions in a corporate statement released on 7th February, 2022.
The statement confirms that all regulatory approvals have been obtained for the Acquisition and commencement of operations of the Companies.
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Commenting on the completion of the Acquisition of Investment One Funds Management Limited, Mr. Segun Agbaje, Group Executive Officer of GTCO Plc 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.
He further stated that, “As a dominant leader in financial services, we are positioned to add significant value to the asset management business in Nigeria and compete favourably with the largest global wealth managers in the areas of disclosure, corporate governance and regulatory compliance”.
The new subsidiary (Investment One Fund Management Limited) is expected to 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.
In another corporate release, GTCO also confirmed the receipt of all regulatory approvals for the acquisition of Investment One Pension Managers Limited, and the commencement of its operations.
Commenting on the acquisition of the Pension Managers subsidiary, Mr. Segun Agbaje said;
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 Nigerian market, but also in Africa.
He further stated that, “whilst evolving as an organisation, 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.
Investment One Pension Managers Limited, now a subsidiary of GTCO will function primarily as a Pension Fund Administrator to the general public.
Investment One Funds Management Limited and Investment One Pension Managers Limited are both subsidiaries of Investment One Financial Services Limited.
Investment One Financial Services Limited was founded in 2007 as GTB Asset Management, a wholly-owned subsidiary of Guaranty Trust Bank Plc.
In 2012, GTB divested its GTB Asset Management Ltd in line with a 2010 CBN directive.
On July 7 2021, Guaranty Trust Bank Plc announced on The Nigerian Exchange that it has completed its re-organisation to a Holding Company Structure. Under the terms of the re-organization, a new operating company, Guaranty Trust Holding Company Plc was established.
GTCO became the parent company of Guaranty Trust Bank Nigeria, all Guaranty Trust banking and non-banking businesses across Africa and the United Kingdom.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur