Allianz Global Investors will acquire UOB Asset Management for S$555 million under an agreement with UOB.
The acquisition covers UOB Asset Management’s operations in Singapore, Brunei, Indonesia, Japan, Malaysia, Taiwan, Thailand and Vietnam.
The deal is expected to close in 2027, subject to regulatory approvals.
UOB expects the sale to generate a pre-tax gain of about S$330 million, excluding one-off transaction costs, and increase its common equity tier 1 ratio by an estimated 14 basis points.
The deal also includes a long-term distribution partnership that will see UOB work with Allianz Global Investors to offer investment products to more than 8 million customers across the region.
Wee Ee Cheong, Deputy Chairman and CEO, UOB, said,
“This partnership sharpens our focus on wealth advisory and distribution. By combining UOB’s advisory expertise and customer relationships with Allianz Global Investors’ investment capabilities, we are well positioned to meet our customers’ evolving needs and support their long-term wealth goals.
This also enables us to accelerate wealth management growth while enhancing long-term shareholder value. During the transition period, maintaining continuity for customers and employees is our priority.”
All 500 UOB Asset Management employees will transition to Allianz Global Investors, which has pledged to maintain their employment.
Customers will continue to be able to access, invest in and redeem UOB Asset Management funds during the transition.
UOB Asset Management has been part of UOB Group for 40 years and had about S$42 billion in assets under management as of 31 December 2025.
Tobias Pross, CEO, Allianz Global Investors, said,
“By bringing together UOB Asset Management’s deep Southeast Asian investment expertise with our global active investment platform, we are creating a stronger business with an enhanced ability to serve clients across the region, providing them with access to an even broader range of innovative wealth management and retirement solutions.”
Featured image: Leong Yung Chee (left), Chief Financial Officer at UOB, with Tobias Pross, CEO of Allianz Global Investors, at the strategic distribution partnership signing. Photo credit: UOB