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| GTCO. |
Trust Holding Company Plc (GTCO Plc or the 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, the Companies) held by Investment One Financial Services Limited (IOFS or 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 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 — of excellence, hard work and integrity, even as we create faster, cheaper, safer and products for people and businesses through every stage of life.”
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 Group's stability and reputation of being a well-established franchise with strong asset quality and consistent excellent financial performance.
“We can rebuild and refocus this nation and advance the cause of democracy. The country must move forward as a united entity but on the three building blocks of equity, fairness and justice.
“I have come for you to show me the way, to carry me on your back across the bridge.”
Bode George wished him well.
“I want to tell you that my back is big enough to carry you. I wish you well.”
George who lent his support to zoning said, “Our brothers from the Southeast
must come together and have a direction. There must be no spoilers. By whatever
parameter, what is good for the goose, must also be good for the gander.
Anyim told Pa Adebanjo that he came to consult with him and seek his blessings.
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