The Guaranty Trust Holding Company (GTCO) Plc has acquired 100% stakes in Investment One Funds Management Limited.

The Holdco made the investment decision known on Monday in a Notice to the Nigerian Exchange Limited.

All regulatory approvals have been obtained for the acquisition and commencement of operations of the company, according to a statement signed by Erhi Obebeduo.

The new subsidiary will provide GTCO Plc the platform to provide technology-driven Funds and Investment Management Services designed to meet the unique investment needs of retail and corporate investors.

Commenting on the completion of the acquisition, the Group Chief Executive Officer of GTCO Plc, Mr. Segun Agbaje, said: “We are excited about our foray into the wealth management space, as it provides us with the opportunity of becoming a one-stop shop for financial services and products that will empower our customers through the course of their lives.

“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.

“As a dominant leader in financial services, we are positioned to add significant value to the asset management business in Nigeria and compete favourably with the largest global wealth managers in the areas of disclosure, corporate governance and regulatory compliance.”

Investment One Funds Management Limited (IOFML) is licensed by the Securities and Exchange Commission (SEC) to manage Mutual Funds/Collective Investment Schemes.

It also provides retail investment products that are tailored to meet the unique investment needs and goals of our customers.

TheStar