Guaranty Trust Holding Company Plc (GTCO Plc) has acquired 100 per cent shares in Investment One Funds Management Limited, a wealth management company.
GTCO in a notice signed by Erhi Obebeduo and sent to the Nigerian Exchange Limited on Monday, explained that all regulatory approvals have been obtained for the Acquisition and commencement of operations of the Company.
Group Chief Executive Officer of GTCO Plc, Mr Segun Agbaje, said: “We are excited about our foray into the wealth management space.
“It provides us with the opportunity of becoming a one-stop shop for financial services and products that will empower our customers.
“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 said with the acquisition, the bank had been positioned to add value to the asset management business in Nigeria and compete favorably with global wealth managers.
According to the notice, the new subsidiary will provide GTCO the platform to offer technology driven funds and investment management services designed to meet the unique investment needs of retail and corporate investors.
It added: “All regulatory approvals have been obtained for the Acquisition and commencement of operations of the Company.”
