Lagos - GTBank has divested its GTB Asset Management Ltd in line with a directive of the Central Bank of Nigeria in 2010.
Mr Nicholas Nyamali, the Managing Director of GTB Asset Management Ltd, disclosed this at a news conference in Lagos on Friday.
He said that the divestment was to enable GTBank concentrate on core commercial banking.
According to Nyamali, following the buy-out, GTB Asset Management Ltd is now known as Investment One Financial Services Ltd.
“Investment One Financial Services Ltd is now owned by the staff and management of the company as well as some select investors.
"The name reflects the firm's strategic positioning as a service oriented firm that is responsive to the investment needs of its customers," he said.
The managing director said that the company's desire was to be a one-stop shop for comprehensive investment services and innovative financial solutions.
Nyamali said that the company would introduce investment innovations to increase the participation of Nigerians in the investment space.
He said that the company would strengthen its investment education strategies to ensure rightful investment decisions.
"It is when people are informed that they will be able to make the right investment decision," Nyamali said.
The News Agency of Nigeria (NAN) recalled that the apex bank has directed commercial banks should divest their non-banking subsidiaries.