Business News
GTCO acquires 100% stake in wealth management coy
Guaranty Trust Holding Company Plc (GTCO Plc) has announced the completion of acquisition of 100 per cent shares in Investment One Funds Management Ltd., a wealth management company.
This is contained in a notice signed by Erhi Obebeduo for GTCO sent to the Nigerian Exchange Ltd. on Monday in Lagos.
Mr Segun Agbaje, Group Chief Executive Officer of GTCO Plc, said in the notice: “We are excited about our foray into the wealth management space.
“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.”
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