๐๐๐๐ ๐๐ฅ๐ย ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฌ ๐ญ๐ก๐ ๐๐ฎ๐ญ๐ฎ๐๐ฅ ๐ ๐ฎ๐ง๐ ๐๐ง๐ ๐๐๐ง๐ฌ๐ข๐จ๐ง ๐๐ฎ๐๐ฌ๐ข๐๐ข๐๐ซ๐ข๐๐ฌ ๐จ๐ ๐๐ง๐ฏ๐๐ฌ๐ญ๐ฆ๐๐ง๐ญ ๐๐ง๐ ๐ ๐ข๐ง๐๐ง๐๐ข๐๐ฅ ๐๐๐ซ๐ฏ๐ข๐๐๐ฌ ๐๐ข๐ฆ๐ข๐ญ๐๐; ๐๐ง๐ฏ๐๐ฌ๐ญ๐ฆ๐๐ง๐ญ ๐๐ง๐ ๐ ๐ฎ๐ง๐๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐ข๐ฆ๐ข๐ญ๐๐ ๐๐ง๐ ๐๐ง๐ฏ๐๐ฌ๐ญ๐ฆ๐๐ง๐ญ ๐๐ง๐ ๐๐๐ง๐ฌ๐ข๐จ๐ง ๐๐๐ง๐๐ ๐๐ซ๐ฌ ๐๐ข๐ฆ๐ข๐ญ๐๐
Trust Holding Company Plc (GTCO Plcย or theย Group), a diversified financial services provider, today notified the Nigerian Exchange Group (NGX) and the investing public that GTCO Plc has concluded the acquisition of the 100% equity stake in Investment One Pension Managers Limited (IOPM) and Investment One Funds Management Limited (IOFM) (together, theย Companies) held by Investment One Financial Services Limited (IOFSย or theย 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 Plcโs 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: โWe are very excited to get started on the next phase of our incredible journey to driving Africaโs 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 possibilitiesโ.
He further stated that, โWhilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand 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 โ of excellence, hard work and integrity, even as we create faster, cheaper, safer and products for people and businesses through every stage of life.โ
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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.
GTCO Plc is a diversified financial services company with N5.144trillion 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 Groupโs stability and reputation of being a well-established franchise with strong asset quality and consistent excellent financial performance
