FBN Holdings has announced a new brand identity called FBNQuest which is a unifying seven subsidiaries.
The subsidiaries include FBN Merchant Bank, FBN Capital, FBN Securities, FBN Capital Asset Management, FBN Trustees, FBN Funds, and FBN Capital Partners.
FBN Capital Managing Director/Chief Executive Officer (CEO), Kayode Akinkugbe, said the unified entities remain the same in terms of legal status and corporate governance structure.
The rebranding is in line with the investment banking and asset management business of FBN Holdings’ as well as its 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.
Akinkughe said “as we prepare to commence merchant banking services on November 2, 2015, this evolution to one brand is important for the alignment of 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 wanted a name that is unique and identifiable. 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.”
FBN Holdings Group CEO, Bello Maccido, said the new name will not overshadow FBN Holdings but will rather enhance the individual business lines that form part of the group.
“The whole idea is basically to drive business growth by focusing more on what customers need.
“The name ‘FBNQuest’ is an acknowledgment 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, ” Maccido explained.
Merchant Banking and Asset Management Group Chairman, Ibukun Awosika, said with the acquisition of Kakawa Discount House by FBN Holdings and the Central Bank’s approval of the associated merchant banking licence, it is important to consolidate the various brands in the investment banking and asset management (IBAM) group under one identity.
She said the expansion of IBAM platform gives FBNQuest the capacity to offer a broader set of products and services that will deepen existing relationships and open up new opportunities for 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,” Awosika added.