GTCO Plc Acquires Mutual Fund, Investment One Financial Subsidiaries

Trust Holding Company Plc (GTCO Plc or the Group), a diversified financial services provider, on Monday 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.

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