FBNQuest Trustees to reveal legacy preserving techniques as it marks 40yr milestone

At an event that will host its stakeholders, FBNQuest Trustees has said it will share key insights on the importance of corporate trust management, estate planning, and wealth transfer, which are crucial elements to ensuring the preservation of legacies.

The company in a statement made available to business a.m Thursday also indicated that the event will entail a celebration of its milestone anniversary.

The event themed “A Legacy that Preserves Legacies”, is scheduled to take place on Friday, 13 September 2019 at the Landmark Event Centre in Lagos.

Omobola Johnson, senior partner at TLcom Capital LLP and former minister for communication technology, has been billed to deliver the keynote address at the event, the company said.

Speaking about the milestone celebration, Adekunle Awojobi, managing director and chief executive officer of FBNQuest Trustees, emphasised the firm’s impact on trusteeship business in Nigeria, and by extension, the economy.

He said, “From when we began our journey in 1979, FBNQuest Trustees has delivered impeccable solutions for the safekeeping of our clients’ assets, the transfer of generational wealth, and the preservation of their legacies.

We are extremely proud to be a part of the 125 year old legacy of First Bank of Nigeria Limited, and the rich heritage of FBN Holdings as we celebrate a 40 year track record of distinction, dependability and professionalism in the trustee business.”

Awojobi expressed the company’s gratitude towards everyone who has contributed to the growth of the company over the years. He said, “as we continue to provide excellent services to our clients, we also take this opportunity to recommit to excellently serving our clients across diverse sectors to ensure that their legacies are preserved.”

FBNQuest Trustees said it is modelled as a representation of the forward thinking culture of the FBN Holdings group, to improve and develop specialised capabilities within the trusteeship, asset and fund management services of the Nigerian financial system.

Today, the company says it specialises in providing Investment Advisory Services, Corporate, Public and Private Trust Management; and as a part of FBNQuest draws on the trailblazing spirit, and a consistent focus on excellence to deliver exceptional services to clients.

In terms of growth and financial performance, the company noted that it has continuously delivered shareholder value in alignment with the mandate of the Group. From a share capital of about N30 million in the 90s, the company has increased to a share capital of N3 billion in 2019; and has grown its profit after tax (PAT) year on year consistently, with liquid trust assets under management in excess of N40 billion as at June 30 2019.

To highlight some of its key achievements over the years, the company says it continues to be the preferred local partner for international and multilateral entities looking to have businesses in Nigeria, and in 2013 served as the sole bond trustee on the very first bond issued by a multilateral institution in Nigeria (International Finance Corporation (IFC) $50,000,000 fixed rate senior unsecured bond).

FBNQuest Trustees further noted that it is the first trust company to publish an educative compendium on estate planning to actively engage, and educate stakeholders, on the importance of Estate Planning in Nigeria, through its Legacy Series; and is a pioneer for Islamic finance in Nigeria, which led to its co-management of the first government issued Sukuk instrument launched by the Federal Government of Nigeria in 2017. The company also partnered and organised a stakeholder engagement on Voluntary Asset and Income Declaration Scheme (VAIDS) and its implications for estate planning.

A brief history of the company’s roots revealed that it was incorporated as Standard Trustees Nigeria Limited on August 8, 1979.

The company at the time was a wholly owned subsidiary of First Bank of Nigeria Limited, which was known as Standard Bank of Nigeria Limited. The name Standard Trustees Nigeria Limited was changed to First Trustees Nigeria Limited in March 1980; and in April 2014 it was renamed FBN Trustees Limited to align with the FBN Holdings group naming convention. In November, 2017 it was again re-named FBNQuest Trustees Limited to signal its membership of the FBNQuest family, and its commitment to partnering with its clients on their quest to define and achieve financial success.