The Nigerian Exchange Group (NGX) and the investing public have been notified that Guaranty Trust Holding Company (GTCO), a diversified financial services provider, has completed the acquisition of 100% equity stake in Investment One Pension Managers (IOPM) and Investment One Funds Management (IOFM) (together, the Companies) held by Investment One Financial Services (IOFS or the Seller).
The Nigerian Pensions Commission (PenCom) has granted IOPM a license to operate as a Pension Fund Administrator in Nigeria. IOFM, on the other hand, is a corporate investment adviser authorized by the Securities and Exchange Commission (SEC) to administer collective investment schemes and provide fund management and investment services on behalf of customers.
The Seller is registered with the Securities and Exchange Commission (SEC) and provides a variety of services, including investment management, trust services, financial advisory services, security brokerage, and pension fund management. The Companies are now totally owned subsidiaries of GTCO, and they are no longer subsidiaries of the Seller.
These purchases will expand the Group’s product and service offerings into the Assets and Funds management areas, placing GTCO as a dominating player for all vital financial services, in line with GTCO’s goals to operate across the financial services sector value chain in Africa.
“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,” said Segun Agbaje, Group Chief Executive Officer of Guaranty Trust Holding Company, commenting on the completion of the Corporate Reorganization. “
“We were always striving to meet every customer need as a bank, and with our reorganization, we would be able to do even more to assist our customers in thriving in this new age of digital technology and limitless possibilities. While we continue to grow as a company, we remain dedicated to our fundamental ideals, which have endeared our brand to millions of people across Africa and beyond and continue to drive our financial success. We will continue to live by these ideals of quality, hard effort, and honesty as a Proudly African and Truly International brand, even as we build faster, cheaper, and safer goods for individuals and businesses at every stage of life.”
The acquisitions were facilitated by Exotix Advisory and Vetiva Capital Management as Financial Advisers, Aluko & Oyebode as Legal Adviser and Deloitte & Touche (Nigeria) as Financial Due Diligence Adviser.
