From a financial institution that started as an asset management subsidiary of Guaranty Trust Bank Plc. to becoming a giant with over eight subsidiaries, Investment One Financial Services Limited, has become a household name on the African Continent.
Since its establishment in 2008, following the Central Bank of Nigeria’s reforms in the banking industry, the financial service provider has managed over N100billion in funds for over a 100 thousand customers and has constantly innovated ways aimed at creating value for investors.
Even before the pandemic that has triggered the increased need for companies to innovate new ways of delivering services in line with changing consumer preference, the company has been investing hugely in technology.
That has made the firm prepared for a pandemic world, delivering quality services for investors at ease.
But the success of Investment One today cannot be divorced from the leadership prowess of Nicholas Nyamali, the chief executive officer, who has led the management team to deliver strong growth for the firm.
Within the space of 12 years of establishment, the firm has expanded its services beyond just the asset management space to pensions, trustees, stockbroking, investment banking, private banking, venture capital amongst others.
Early life
Nyamali is a reserved and focused individual, as such, not much is known of his early life.
Being a Fellow of the Institute of Chartered Secretaries and Administrators, UK and a member of the Institute of Securities & Investment, UK; Nyamali holds two Masters’ Degrees in Law and Economics as well as an MBA from the London Business School.
He started his career as a Barrister & Solicitor with Haruna & Co. He then worked with Coopers & Lybrand (now PricewaterhouseCoopers) before joining GTBank Plc, working at various times in the legal, corporate banking and corporate finance teams. He thereafter worked with Barclays Capital, London and Mckinsey & Co, London before returning to Nigeria to set up Investment One Financial Services Limited (then GTB Asset Management Limited, a former subsidiary of Guaranty Trust Bank Plc.).
On several occasions, whether it is in public speaking or via writing in form of books, Nyamali has pushed for the empowerment of small and medium enterprises, noting that developments in the segment of the economy hold key
He has called for the removal of bottlenecks, by the government, of stringent conditions, hindering the access of various intervention funds for the sector.
In his words, notwithstanding the myriad of challenges, Nigeria’s growing youthful population as well as agrarian environment will continue to put it at the front sit in terms choice of investments for investors.
That belief has helped him in developing innovative products that suit the interest of investors and helped his business grow over time.
The Investment One dream comes true
At the cool of the global financial crisis that started in 2007, there was a huge pull by investors, particularly retail investors, who had gotten their hands burnt from investing in the stock market.
The crash in the stock market following the crisis led to widespread investor’s apathy.
While that lingered, Nyamali was viewing the future differently.
In an interview, the young CEO said he was optimistic that the time of an emerging middle class is coming when the average Nigerian will increasingly need the advice of a professional to help them manage their investments.
Fast-forward to today, his anticipation of the rising middle class has become a reality.
Investment One Financial Services Limited was incorporated in 2008 as GTB Asset Management, a wholly-owned subsidiary of Guaranty Trust Bank Plc, licensed by the Securities & Exchange Commission Nigerian Stock Exchange (NSE) to provide several capital market services, including acting as trustees to bond issuance programmes and collective investment schemes.
Following reforms in the banking industry initiated by the Central Bank of Nigeria, GTBank divested its ownership through a management buyout. The company’s name then changed to Investment One Financial Services.
Investment One Financial Services Limited later transited from an asset management company to a financial services company. A separate entity was then licensed by the Securities and Exchange Commission (SEC), the Nigerian Stock Exchange NSE, and the Nigerian Pensions Commission PENCOM to provide Funds/Portfolio Management Services, Trust Services, Securities Brokerage, Pensions and Financial Advisory services to individual and corporate clients.
That marked the beginning of yet another milestone for the company.
In 2013, the financial service firm acquired From Fidelity Bank, the funds’ management rights and responsibilities of the Nigeria International Growth Fund “NIGFUND”
The acquisition which was geared toward fulfilling the organisation’s desire to be a one-stop-shop for comprehensive investment services and the “first port of call” for insightful and innovative financial solutions, will allow the company bring on-board its wealth of experience as a foremost asset management company to provide unit-holders optimal and efficient services.
That same year, announced it has acquired a 100 percent stake in Royal Trust Pension Fund Administrators Limited (RT PFA) to offer world-class products and services.
With an eye on growth, Nyamali’s Investment One Financial Services Limited in 2014, made another acquisition, acquiring Kakawa Asset Management Ltd (KAML), a former subsidiary of Kakawa Discount House Limited.
With three acquisitions in less than two years, Investment One became the fastest growing investment company in Nigeria.
With more than 40 million Nigerians without a bank account, the company is revolutionizing digital banking and payment systems to drive financial inclusion.
Over time, the firm has also developed products to enable investors to carry out an array of financial services on the go.
In order to give investors insight into the opportunities therein in the Nigerian market, his firm provides a list of profitable investment vehicles.
These include opportunities in treasury bills, commercial papers, sovereign bonds, state bonds, corporate bonds, Eurobonds and equities. Others are mutual funds, real estate and venture capital.
Investment One Ziing, a free financial app, was developed to ease savings, simplify investing and enable users to take control of their finances. On the app, Investment One made it possible for users to create target savings, make a fixed-income investment, trade Nigerian stocks, buy airtime and pay bills.
Since it was created, the app has on boarded tens of thousands of users to cultivate the habit of saving with as low as N100, and has equally stimulated the appetite of investors in both the capital and fixed income markets; and gives investor opportunity to invest in dollar-denominated assets to hedge against the risk of a likely devaluation.
In the wake of the pandemic, users on its platform were able to carry out financial services at ease, without risk of contracting the virus.
Aside from the traditional businesses of providing financial services, the company has embarked on various corporate social responsibility projects, as a way of giving back to society.
Last year, Investment One donated 10,000 units of face mask to the governments of Lagos and Ogun States contribution towards stopping the spread of the novel Coronavirus pandemic in the States.
The firm was also the headline sponsor of the Nigerian Photography Competition 2020 to encourage amateurs and professionals in the field of photography.
Going forward
Going into the future Nyamali believes the company would have gone through a significant transformation, driven by investments in technology.
For him, the company would have become, in the next 10 years, a technology company selling financial products. By doing that, it will enable his firm to reach younger people and more people outside the country.
