Aduragbemi Omiyale
By Aduragbemi Omiyale
One of the firms in the assets management landscape, Investment One Funds Management Limited, has been acquired by a leading financial powerhouse, Guaranty Trust Holding Company (GTCO) Plc.
This is part of the efforts of GTCO to expand its operations and serve several clients in the financial services sector in Nigeria.
A notice filed to the Nigerian Exchange (NGX) Limited on Monday disclosed that Investment One Funds Management was taken over after the acquisition of a 100 per cent stake in the firm.
GTCO is the parent company for Guaranty Trust Bank (GTBank Limited), the banking arm of the organisation.
According to the disclosure, GTCO has obtained “all regulatory approvals” for the acquisition and commencement of operations of the company.
Business Post reports that the new subsidiary will provide GTCO Plc with the platform to provide technology-driven funds and investment management services designed to meet the unique investment needs of retail and corporate investors.
“Guaranty Trust Holding Company Plc is pleased to inform the Nigerian Exchange Limited and the investing public of the completion of the acquisition of 100 per cent shares in Investment One Funds Management Limited,” the stated.
Commenting on the deal, the Group Chief Executive Officer of GTCO Plc, Mr Segun Agbaje, described it as a welcome development, which will boost the offerings of the firm.
“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 disclosures, corporate governance and regulatory compliances.”
