PenCom okays GTCO’s acquisition of Investment One Pension Managers

GTCO plc declares N221.5bn profit in 2021

The National Pension Commission (PenCom) says it has approved the acquisition of Investment One Pension Managers Limited by Guaranty Trust Holding Company Limited (GTCO).

The commission, on Wednesday, took to its official Twitter page to make the announcement.

According to the statement, PenCom said it has also approved the subsequent change of name from Investment One Pension Managers Limited to Guaranty Trust Pension Managers Limited.

Guaranty Trust Holding Company plc (GTCO) completed the acquisition of 100 percent shareholding in two subsidiaries of Investment One.

The subsidiaries are Pension Managers and Investment One Funds Management.

Investment One Financial Services Limited was incorporated in 2008 as GTB Asset Management, a wholly-owned subsidiary of Guaranty Trust Bank Plc.

Pencom also said the acquisition of AIICO Pension Managers Limited by FCMB Pensions Limited was approved.

In 2021, FCMB Group had acquired a 60 percent stake in AIICO Pensions Managers.

Meanwhile, the commission said it approved the merger between Tangerine Pensions Limited and APT Pension Funds Managers Limited and subsequent change of name of the merged entity to Tangerine APT Pensions Limited.