Allianz enters deal to acquire UOB asset management arm

Allianz Global Investors has reached an agreement to buy UOB Asset Management (UOBAM) in a transaction valued at S$555m($432.7m).

The deal covers UOBAM’s operations in eight Asian markets – Singapore, Brunei, Indonesia, Japan, Malaysia, Taiwan, Thailand and Vietnam.

Alongside the sale, UOB and AGI will enter a distribution partnership.

Under this arrangement, UOB will continue to offer investment products to its regional customer base, working with AGI on a wider range of products and solutions.

UOB said the move fits with its open-architecture approach to wealth distribution, with a focus on advice, suitability and long-term customer outcomes.

It added that the partnership would widen customer choice across different investment profiles, life stages and financial goals.

UOB deputy chairman and CEO Wee Ee Cheong 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.”

The transaction is subject to regulatory clearance in the relevant markets and due to close in 2027.

All 500 UOBAM employees in the region are set to move to AGI as part of the transaction.

Until completion, UOBAM’s business will continue operating as normal.

Excluding one-off transaction expenses, UOB said the sale is expected to result in a pre-tax gain of about S$330m and lift the group’s CET ratio by an estimated 14 basis points.

As of 31 December 2025, UOBAM had around S$42bn in assets under management.

AGI said the acquisition would raise the assets it manages for clients in Asia Pacific to more than €170bn ($196.bn).

Allianz Global Investors CEO Tobias Pross said: “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 that help them meet their investment objectives.”