CBN Approves Greenwich Holdings Structure to Strengthen Financial Group’s Growth

The Central Bank of Nigeria (CBN) has granted approval for the establishment of Greenwich Holdings Limited as the new financial holding company for Greenwich Merchant Bank Limited. This regulatory approval marks a key milestone in Greenwich Group’s strategy to consolidate its financial services operations, expand into new markets, and solidify its standing in the Nigerian financial sector. The approval reflects the CBN’s confidence in the group’s growth potential and commitment to the industry.

Greenwich Holdings Limited will oversee Greenwich Merchant Bank Limited, Greenwich Asset Management Limited, and Greenwich Securities Limited, ensuring the smooth expansion of its services. This restructuring is set to improve the group’s operational efficiency, with a focus on driving long-term growth across various segments of the financial market. The move aims to bolster Greenwich’s reputation as a key player in Nigeria’s financial ecosystem.

Ozena Utulu, Head of Corporate Communications at Greenwich Merchant Bank, emphasized that this approval is a testament to the dedication and hard work of the bank’s leadership and team. She highlighted that Greenwich’s legacy, which began with Greenwich Trust Limited in 1994, is now entering a new chapter with the establishment of Greenwich Holdings Limited. The approval signifies a continued commitment to excellence and customer trust.

The journey of Greenwich’s expansion began as a financial adviser and issuing house and evolved over three decades to include a range of services through its subsidiaries like Greenwich Registrars and Data Solution Limited and Greenwich Trustees Limited. With this new structure, Greenwich aims to enhance its competitive position in the market, ensuring future growth and success across Nigeria’s diverse financial sectors.

source: punch