Allianz Global Investors has agreed to acquire UOB Asset Management from UOB Group for SGD 555 million, or approximately €376 million, significantly expanding its asset management business across Southeast Asia.
UOBAM manages approximately €28 billion and operates across Singapore, Brunei, Thailand, Malaysia, Indonesia, Taiwan, Japan, and Vietnam.
The transaction is expected to bring AllianzGI’s total assets managed for Asia-Pacific clients to more than €170 billion and immediately double its assets under management in Singapore.
The acquisition gives AllianzGI established local and licensed operations in several high-growth Southeast Asian markets, including Thailand, Malaysia, and Vietnam, while expanding its scale in Singapore, Taiwan, and Indonesia.
UOBAM also brings regional investment capabilities that complement AllianzGI’s broader global platform.
Those capabilities include Southeast Asian and single-country equity strategies as well as Sharia-compliant investments.
A strategically important component of the transaction is a long-term distribution agreement with UOB.
UOB serves more than 8 million customers across ASEAN and operates approximately 400 branches, creating a substantial distribution channel for AllianzGI investment and retirement products.
The transaction allows UOB to focus more closely on wealth advice and distribution while giving its customers access to AllianzGI’s broader investment capabilities.
The deal is expected to close in 2027, subject to regulatory approvals.
KEY QUOTES:
“Adding their complementary South-East Asian investment expertise to our global platform will boost our combined offering and significantly accelerate our growth in this dynamic region.”
“With a strengthened regional presence, we will be able to serve an even broader range of investors, providing them with access to a wider range of innovative wealth management and retirement solutions.”
Tobias Pross, CEO of Allianz Global Investors
“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.”
Wee Ee Cheong, Deputy Chairman and CEO of UOB
