UOB to divest asset management unit to AGI for $555m
I'm LongbridgeAI, I can summarize articles.UOB Group has agreed to sell its asset management unit, UOBAM, to Allianz Global Investors (AGI) for $555 million. The deal covers operations in eight Asian markets and is expected to close in 2027 pending regulatory approval. UOB anticipates a pre-tax gain of approximately $330 million and a 14 basis point increase in its CET1 ratio. All 500 employees will transfer to AGI, and UOB will maintain a strategic distribution partnership with AGI.
The deal is expected to be completed in 2027.
UOB Group has entered an agreement to sell UOB Asset Management (UOBAM) to Allianz Global Investors (AGI) for $555m.
The acquisition covers UOBAM’s operations in Singapore, Brunei, Indonesia, Japan, Malaysia, Taiwan, Thailand, and Vietnam.
The group expects the deal to generate a pre-tax gain of approximately $330m, excluding one-off costs, and increase its common equity tier 1 ratio by an estimated 14 basis points.
The transaction is expected to be completed in 2027, subject to regulatory approvals.
Under a strategic distribution partnership, UOB will work with AGI to offer investment products and solutions to the bank’s regional customer base of more than eight million.
All 500 UOBAM employees across the region will transfer to the asset manager, which has committed to maintaining their employment.
Its operations will continue as usual during the transition, with customers able to invest in and redeem its funds without disruption.
UOBAM had approximately $42b in assets under management as of 31 December 2025. It has been part of UOB Group for 40 years.