Access Holdings has announced a successful acquisition of a controlling stake in ARM Pensions, creating a formidable alliance with a promise of substantial benefits for clients, the industry, and the nation.
According to Access Holdings, this marks the birth of a financial powerhouse poised to deliver enhanced value to clients.
The operations of ARM and Access Pensions will be merged to create Nigeria’s second largest Pension Fund Administrator (PFA), propelling the combined business to new heights,
boasting over N2.7 trillion in assets under management.
Commenting on this transaction, Herbert Wigwe, the Group Chief Executive of Access Holdings, said, “We are pleased to have reached this transformative milestone in our pension fund administration journey. The proposed combination of ARM Pension with Access Pensions will not only create sustainable stakeholder value but will also contribute positively to the growth and development of the pension industry. We anticipate an exciting future for the combined entity.”
Speaking on the transaction, Jumoke Ogundare, Group CEO of ARM Holding Company Limited said, “The market in which we operate is ripe for consolidation and I am confident that the proposed combination will create a formidable pension funds administration business leveraging Access Group’s expansive distribution network and innovation culture to deliver sustainable value to stakeholders.”
With a shared commitment to excellence, the union aims to provide clients with competitive returns on their portfolios due to a more robust and diversified investment approach.
Clients can anticipate a more comprehensive suite of financial services, innovative investment strategies, and personalized solutions tailored to their evolving needs.
Beyond the immediate benefits for clients, the merger creates a seismic shift in the pension industry. The emergence of a formidable alliance introduces healthy competition that is poised to drive innovation, improve services, and raise the overall standards of the industry.
