Bloomberg: UOB is rumored to consider divesting its asset management company | Lianhe Zaobao
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United Overseas Bank (UOB) is considering selling its asset management division to streamline its operations. The bank has partnered with a financial advisory firm to explore the possibility of selling UOB Asset Management. Other options include bringing in partners to facilitate growth. United Overseas Bank did not comment on this matter. UOB Asset Management was established in 1986 and manages assets of approximately SGD 37.2 billion, with branches in multiple countries. This move may attract interest from industry players, insurance companies, and private equity firms
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