Guaranty Trust Acquires Fund Manager to Boost Wealth Unit
By Sahabi Abdul
Guaranty Trust Co. the parent company of GT Bank, said it acquired Investment One funds-management company to boost its wealth management services.
“We are excited about our foray into the wealth management space,” GTCO Chief Executive Officer Segun Agbaje said in a company filing to the Nigerian Exchange on Monday. “As a dominant leader in financial services, we are positioned to
add significant value to the asset management business in Nigeria.”
All regulatory approvals have been obtained for the acquisition that will enable the GTCO unit to “provide technology driven funds and investment management services.”
Nigeria’s big banks have found themselves responding to the erosion of their customer base by fintech companies that have offered more nimble services, ranging from payments, through investments to wealth management