GTCO buys two subsidiaries of Investment One Ltd

Guaranty Trust Holding Company Plc (GTCO), a diversified financial services provider, has concluded the acquisition of the 100 per cent equity stake in Investment One Pension Managers Limited (IOPM) and Investment One Funds Management Limited (IOFM)

The two companies were hitherto owned by by Investment One Financial Services Limited (IOFS), the Seller.

IOPM is licensed by the Nigerian Pensions Commission (PenCom) to operate as a Pension Fund Administrator in Nigeria. On the other hand, IOFM is licensed by the Securities and Exchange Commission (SEC) to undertake fund management and investment services on behalf of clients and manage collective investments schemes as a corporate investment adviser

The Seller is regulated by the SEC and offers a wide range of services including Investment Management, Trust Services, Financial Advisory Services, Security Brokerage and Pension Funds Management. Forthwith, the Companies cease to be subsidiaries of the Seller and have become wholly owned subsidiaries of GTCO Plc.

In line with GTCO Plc’s aspirations to operate across the financial services sector value chain in Africa, these acquisitions would expand the product and service offerings of the Group into the Assets and Funds management segments whilst positioning GTCO Plc as a dominant player for all critical financial services.

Commenting on the completion of the Corporate Reorganization, Mr Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, said: “We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African Businesses by leveraging Technology and Strategic Partnerships.

“As a bank, we were always looking to meet every customer need; with our corporate reorganization, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities”.

He further stated that whilst GTCO is evolving as an organization, it remains committed to its founding values which have endeared it to millions of people across Africa and beyond, and which continue to drive our financial success.

“As a Proudly African and Truly International brand, we will continue to live by these values — of excellence, hard work and integrity, even as we create faster, cheaper, safer and products for people and businesses through every stage of life,” Agbaje added.

The acquisitions were facilitated by Exotix Advisory Limited and Vetiva Capital Management Limited as Financial Advisers, Aluko & Oyebode as Legal Adviser and Deloitte & Touche (Nigeria) as Financial Due Diligence Adviser.

What to know about GTCO

GTCO Plc is a diversified financial services company with N5.144 trillion in assets, providing commercial banking services and non-banking financial services across eleven countries, including the United Kingdom.

The Group offers a wide range of banking as well as non-banking financial services in Nigeria, West Africa, East Africa, and the United Kingdom.

The Group is rated B- by S&P, a reflection of the Group’s stability and reputation of being a well-established franchise with strong asset quality and consistent excellent financial performance.