First City Monument Bank (FCMB) Group has announced the successful acquisition of Legacy Pension Managers Limited, a leading financial services holding company’s fund managers firm. The move is a major one for FCMB’s pension portfolio and the pension arm of the Group will now be called FCMB Pensions Limited.
This new development was released in a statement in Abuja.
‘Following the acquisition of majority shareholding in the company by FCMB Group Plc and the approval of the Board of Directors at its meeting of October 17, 2018, the change of name will positively enhance the company’s marketing and distribution activities,’ the group said in the statement.
Mr. Misbahu Yola is the appointed Managing Director for FCMB Pensions Limited.
Reacting to Media inquiries, the Managing Director of FCMB Pensions Limited, (formerly Legacy Pension), Mr. Yola, notifying shareholders said, ‘what has happened is expected and an important alignment of our marketing message.
ALSO READ: FCMB Bags Excellence Award In Retail Banking
There has been a comprehensive integration of the pensions business into FCMB Group, which is known for its culture of excellence, resilience and customer focus. It is another way of welcoming it to a group that has endured and enjoyed stability and sustainable growth in the last 41years’.
The acquisition tallies with FCMB’s global brand and identity harmonization initiatives and is most welcome, according to the parties concerned.