GTCo completes 100% acquisition of Investment One Pensions

Guaranty Trust Holding Company plc (GTCO) has informed the Nigerian Exchange Limited and the investing public of the completion of the acquisition of 100 per cent shares in Investment One Pensions Managers Limited.

Commenting on the transaction Group Chief Executive Officer of GTCO, Segun Agbaje, said: “This acquisition is in line with the evolution of the Guaranty Trust brand in becoming a fully-fledged financial services company, with the capabilities and drive to deliver end-to-end financial services 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. 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.

“While 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.”

Following the completion of the acquisition, the new subsidiary will function primarily as a pension fund administrator as a subsidiary of GTCo

The bank said all regulatory approvals have been obtained for the acquisition and commencement of operations of the pension company.