Cordros Financial Services Opens New Subsidiaries

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Ebere Nwoji

Cordros Capital Limited, a financial services company said it has embarked on an expansion exercise through the establishment of three new subsidiaries, including an insurance brokerage firm.

The group, in a statement said it has obtained all relevant licences and regulatory approvals to operates its insurance brokerage, trustees and registrars businesses.

According to the Group Managing Director, Mr. Wale Agbeyangi, Cordros Insurance Brokers Limited, has been granted an operating license by both the Nigerian Council of Registered Insurance Brokers (NCRIB) and the National Insurance Commission (NAICOM).

He also said Cordros Trustees Limited, and Cordros Registrars Limited have been granted operating licenses by the Securities and Exchange Commission (SEC).

Agbeyangi, said following this achievement, the new businesses would commence operations in earnest.
Agbeyangi, explained that it has always been the passion of the Cordros Group to help its clients grow their wealth and assets, regardless of their economic class.

“We are committed to delivering top-range financial services and consolidating our strengths to sustain leadership positions across our various businesses. This includes securities trading, investment banking, asset management, and insurance brokerage, trustees, and registrars.

He said the group is deploying the right technology to ensure all its services are accessible remotely, and that clients can achieve their investment objectives on the go.

Also speaking, the group’s Chairman, Charles Osezua, said that the establishment of the new businesses is in line with the strategic direction of the group to evolve into a leading financial services powerhouse in Nigeria, and with a bold intent for the rest of Africa.

He noted that after commencing operation as a securities trading business in 2007, Cordros, recorded significant milestones in 2010 and 2013 when it started its investment banking and asset management businesses, respectively.

He said with the three new subsidiaries, the group has now been licensed to operate insurance broking services/dealers, issuing house, fund/portfolio management, trustees, and registrars by the Nigeria Council of Registered Insurance Brokers, the National Insurance Commission(NAICOM) Securities & Exchange Commission (SEC), and the Nigerian Stock Exchange (NSE).