CFS Group Plc, a subsidiary of CITITRUST Holdings Plc, today announced the launch of its new and wholly-owned Investment/Asset Management Company subsidiary called CITITRUST Asset Management. This follows the receipt of regulatory approval from the Securities and Exchange Commission (SEC).
The firm will now provide Portfolio Management to corporations and institutional investors as well as Wealth Management, structured investments and other financial advisory services.
The unveiling and remarkable feat is announced in pursuant of the Fund/ Portfolio Manager License granted to Cititrust Asset Management Limited on August 31, 2020 in terms of the Investment & Securities Act (ISA) No. 29 of 2007 to conduct capital market transactions.
“The launch of the Asset Management business ties in with our plan to become a dominant player in the Financial Services sector. We are enthusiastic at the unique opportunity to bring investment products to the market as our goal is to constantly provide a wide range of solutions to support the evolving needs of our partners and the entire investment community.
“The issuance of this approval by the Securities and Exchange Commission is a laudable development, one that will most definitely lead to an unprecedented basis for value creation within the Asset Management Space,” said Ikechukwu Peter, the Country Chief Executive of CFS Group Plc.
Speaking on the vision for CITITRUST Asset Management Limited (“CAML”), the Group Chief Executive of Cititrust Holdings Plc., Mr. Adeyemi Adefisan said: “we intend to support African Businesses and unlock the continent’s potentials through the management of several investment funds and provision of financial advisory services. Our focus is on growing wealth for our esteemed clients through our well-thought-through products.
At CITITRUST, our people have extensive experience in the financial services sector across Africa and are devoted to pooling complementary resources and functions to give clients the best value. We look forward to offering unique and creative solutions backed up by world class technology to transform current market offerings and do more for our clients,” Mr. Adeyemi Adefisan said.