Lagos, Nigeria— In line with a commitment to improve service delivery to clients and position the group at the forefront of the emerging merchant banking and asset management sector in Nigeria, the Investment Banking and Asset Management business of FBN Holdings Plc has announced the unveiling of a new identity for the group, FBNQuest.
FBNQuest includes FBN Merchant Bank Limited, FBN Capital Limited, FBN Securities Limited, FBN Capital Asset Management Limited, FBN Trustees Limited, FBN Funds Limited and FBN Capital Partners Limited as they will now operate under one brand identity. The new brand identity does not alter the existing ownership and governance structures of all the companies within the group.
Speaking on the change, Kayode Akinkugbe, MD/CEO of FBN Capital stated, “As we prepare to commence Merchant Banking services on the 2nd of November 2015, this evolution to one brand is important for the alignment of our business and brand strategy. The unification of all these subsidiaries under a single identity, FBNQuest, allows us to offer our broad range of services to our clients in a simplified way. It also conveys a more unified company ethos and vision that seeks to create value-driven connections with clients and build lasting relationships..
We aim to be the leading Merchant Bank and Asset Manager in Africa, a trusted and inspirational partner, with deep local roots and global insights. This client-centric approach allows us to provide services more efficiently and effectively.”
Mrs Ibukun Awosika, Chairman of the FBN Capital Limited added: “With the acquisition of Kakawa Discount House by FBN Holdings, and the CBN’s approval of the associated Merchant Banking Licence, we believed it was important to consolidate the various brands in our Investment Banking and Asset Management group under one cohesive identity. The expansion of the IBAM group’s product platform gives FBNQuest the capability to offer a broader set of products and services that will not only deepen existing relationships, but open up new opportunities for our clients.
Although Nigeria remains predominantly a commercial and corporate banking market, there is a growing need for merchant banking and asset management services as the conduit between the bank and capital markets. The group’s competitive positioning is enhanced by a strong track record of delivery, a stronger balance sheet, access to a wider universe of funding sources to enable the creation of value for clients, as well as the opportunity to generate incremental revenue from new product lines which will ultimately result in increased stakeholder value” she further stated.
According to the Group CEO, FBN Holdings Plc Mallam Bello Maccido, “The name ‘FBNQuest’ is an acknowledgement of the 120-year old pioneering spirit of the group, and is a symbol of the journey of discovery we embark upon with clients to find new solutions in innovative ways. It represents our commitment to drawing on the strengths of our past in order to understand today’s realities and seek out innovative solutions for tomorrow.