Guaranty Trust Holding Company (GTCO) has acquired Investment One Pension Managers Limited, as the HoldCo commences its expansion beyond core banking services within Nigeria.
Investment One was previously known as GTB Asset Management Limited, and was founded by former GTBank director, Nicholas Nyamali, and GTCO has now taken full possession of the fund vehicle.
According to a filing to the Nigerian Exchange Group and investing public on Monday, GTCO stated that it acquired 100% stake in Investment One, but the value of the deal wasn’t disclosed.
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The acquisition shows GTCO’s direction in line with its restructuring into an HoldCo to expend shareholders investment into various revenue generating businesses.
Investment One will allow GTCO partake in investment opportunities like Investment Banking and Financial Advisory Services, stockbroking, pension services and more.
Commenting on the acquisition, GTCO’s Group Chief Executive Officer, Segun Agbaje, stated, “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.”
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