- Agreement includes strategic distribution partnership with UOB Group to broaden suite of investment products and wealth solutions for their clients
- Combined investment management business will be well placed to deliver a market-leading client experience for investors across South-East Asia
- Deal significantly deepens AllianzGI’s presence in Singapore, a long-standing and strategically important market for the firm
Allianz Global Investors agreed to acquire UOB Asset Management, the asset management arm of Singapore-based UOB Group, in a deal designed to expand AllianzGI’s Asia Pacific business.
The deal remains subject to regulatory approval and is expected to close in 2027. The purchase price, including excess cash and the distribution agreement, is SGD 555 mn, or €376 mn.
The transaction will increase the assets AllianzGI manages for clients in the region to more than €170 bn. It also gives the active asset manager a stronger platform across South-East Asia, where retail wealth, retirement savings and institutional mandates keep growing.
UOBAM gives AllianzGI access to established local operations in high-growth markets, including Thailand, Malaysia and Vietnam. The acquisition also strengthens AllianzGI’s existing presence in Singapore, Taiwan and Indonesia.
The investment capabilities of the two firms fit closely. UOBAM brings South-East Asian market expertise, while AllianzGI adds a global active-investing product suite.
The combined business will offer investors a wider range of strategies and solutions across regional and global markets.
The combined platform will deepen South-East Asian investment capabilities, including regional equity strategies, single-country equity products and Sharia-compliant offerings. AllianzGI also expects the larger platform to support new client solutions over time.
The deal includes a long-term distribution agreement with UOB. That agreement gives AllianzGI access to UOB’s retail client network and shows the bank’s confidence in the combined group’s ability to serve investors with new products.
Tobias Pross, CEO of Allianz Global Investors, said UOBAM ranks among South-East Asia’s leading asset managers, with strong investment capabilities and a broad distribution network. He said adding UOBAM’s regional expertise to AllianzGI’s global platform will accelerate growth in the region.
Adding UOBAM complementary South-East Asian investment expertise to our global platform will boost our combined offering and significantly accelerate our growth in this dynamic region.
Tobias Pross, CEO of Allianz Global Investors
“Reinforcing our long-term commitment to broadening the reach of our investment offering in South-East Asia, this deal provides us with deeper market connectivity and opens new opportunities to engage with an expanded base of clients. 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”, Tobias Pross stated.
Pross said the transaction deepens AllianzGI’s market connectivity in South-East Asia and expands access to clients. He said the strengthened regional presence will let the firm serve more investors with wealth management and retirement solutions tied to their investment objectives.
UOB deputy chairman and CEO Wee Ee Cheong said the bank serves more than 8 mn customers across ASEAN, whose wealth and investment needs are becoming more varied and sophisticated. He said the partnership sharpens UOB’s focus on wealth advisory and distribution.
By combining UOB’s advisory expertise and customer relationships with AllianzGI’s investment capabilities, Wee said the firms are better placed to meet client needs and support long-term wealth goals.
He said the deal also helps UOB accelerate wealth management growth and improve long-term shareholder value. During the transition, UOB will focus on continuity for customers and employees. Wee also thanked UOBAM’s management and staff for building the regional asset management business over four decades.
UOB is the third-largest bank in South-East Asia by total assets. It serves more than 8 mn clients and operates about 400 regional branches.
Through the distribution agreement, AllianzGI will have the opportunity to offer its global investment products to a broader investor base across South-East Asia.
The transaction follows several years of organic growth for AllianzGI in Asia. It will immediately double AllianzGI’s assets under management in Singapore, where the firm has served clients since 1999.
