The Guaranty Trust Holding Company Plc (GTCO) has concluded the acquisition of Investment One Pensions Managers Limited.
Informing the investing public on the acquisition, Segun Agbaje, Group Chief Executive Officer (CEO) of GTCO, said it is 100% purchase, adding that the financial institution is evolving.
His words: “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.
“Whilst evolving as an organization, 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.”
Following the acquisition, the new subsidiary will function primarily as a Pension Fund Administrator (PFA) to members of the public.
Prior to the disclosure of this acquisition, the National Pension Commission (NPC) had granted ‘No Objection’ to the deal.
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