Guaranty Trust Holding Company Plc said on Monday that it had completed the acquisition of 100 per cent equity stakes in Investment One Pensions Managers Limited and Investment One Funds Management Limited from Investment One Financial Services Limited.
A statement from the company said it had notified the Nigerian Exchange Limited and the investing public of the completion of the acquisitions.
The Group Chief Executive Officer, GTCO, 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 Nigeria market, but also in Africa.”
According to Agbaje, the company’s foray into the wealth management space provides it with the opportunity of becoming a one-stop shop for financial services and products that will empower its customers through the course of their lives.
He said, “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.”
The statement said all regulatory approvals had been obtained for the acquisition and commencement of operations of the pension manager company.
Source: https://punchng.com/gtco-completes-acquisition-of-funds-management-pension-firms/