GTCO Has Announced The Acquisition Of Fund Management And Pension Firms

GTCO 2022 Food And Drink Festival Begins On April 30
GTCO 2022 Food And Drink Festival Begins On April 30

Guaranty Trust Holding Company Plc announced on Monday that it had completed the acquisition of Investment One Pensions Managers Limited and Investment One Funds Management Limited from Investment One Financial Services Limited.


The company said in a statement that it had notified the Nigerian Exchange Limited and the investing public of the completion of the acquisitions.


“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,” said Mr Segun Agbaje, Group Chief Executive Officer, GTCO.


“The pension fund business is a natural fit for the Guaranty Trust brand, 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.”


“Also, our preference for the highest corporate governance standards will ensure transparency in how we manage the funds under our management, making us the preferred pension fund administrator not only in the Nigerian market, but also in Africa.”


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According to Agbaje, the company’s move into wealth management allows it to become a one-stop shop for financial services and products that will empower its customers throughout their lives.


“We will concentrate 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 said.


As a dominant leader in financial services, we are well positioned to add significant value to Nigeria’s asset management business and compete favorably with the world’s largest wealth managers in disclosure, corporate governance, and regulatory compliance.”


According to the statement, all regulatory approvals had been obtained for the pension manager company’s acquisition and start-up operations.