UOB's potential asset management sale could unlock value for wealth push
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Morningstar Research suggests UOB's potential sale of its asset management business to AllianzGI could unlock value due to scale advantages. UOB is reviewing the sale to reinvest proceeds into enhancing advisory capabilities and hiring relationship managers, supporting its goal to double wealth income by 2030. This move aligns with Singapore's major banks focusing on wealth management amidst tightening margins.
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