Guaranty Trust Company Plc (GTCO) has acquired Investment One Pension Managers Limited (IOPM) and Investment One Funds Management Limited (IOFM).
Having met all regulatory requirements, both companies are now fully owned subsidiaries of Guaranty Trust Company Plc (“GTCO Plc,” or “the Group”).
This signals an important milestone in the corporate reorganisation that GTCO announced in July 2021. The Group has now evolved from a pure play banking franchise to actualising its vision of creating an ecosystem of financial services that will enable the Group to offer greater and more rewarding experiences to customers.
With over 26,000,000 customers and a growing presence in Nigeria, West Africa, East Africa, and the United Kingdom, the Group is well positioned to expand its reach to serve more markets and deliver on its promise of championing Africa’s growth.
Going forward, GTCO’s products and services will include innovative Pension Fund and Wealth Management solutions alongside the existing Banking products and services. What this means for customers is that GTCO can now offer the full range of financial needs – from banking services to wealth management and pension solutions in one seamless experience.
In a corporate filing on the Nigerian Exchange (NGX), Erhi Obebeduo, GTCO’s group company secretary, said One Pension Managers will function primarily as a Pension Fund Administrator to the general public.
Investment One Financial Services Limited was incorporated in 2008 as GTB Asset Management, a wholly-owned subsidiary of Guaranty Trust Bank Plc. But in 2012, GTB divested its GTB Asset Management Ltd in line with a 2010 CBN directive.
According to the corporate disclosure, Segun Agbaje, group chief executive officer of GTCO, explained that the acquisition is in line with the evolution of the Guaranty Trust brand in becoming a fully-fledged end-to-end financial services company to every African and African business.
“With over 30 years of being a trusted banker to millions of Nigerians and expertise in capital allocation to generate the highest yields for our customers and shareholders; the Pension Fund business is a natural fit for the Guaranty Trust brand,” he said.
“Also, our bias for the highest standards in corporate governance will ensure transparency in how we manage the funds under our management, which will ultimately make us the preferred Pension Fund Administrator, not only in the Nigerian market but also in Africa.”
“Whilst evolving as an organisation, we remain committed to our founding values of excellence, hard work and integrity, as we continue to build a Proudly African and Truly International brand for millions of people in and outside of Africa”.