GTCO Acquires Asset Management and Pension Fund Businesses

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 (“the Acquisition”).

Commenting on the completion of the Acquisition, Mr. Segun Agbaje, Group Chief 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 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.