Allianz Global Investors (AllianzGI) has announced an agreement to acquire UOB Asset Management (UOBAM), the asset management arm of UOB Group, for S$555m (€376m). The acquisition, expected to complete in 2027 pending regulatory approvals, will significantly bolster AllianzGI’s presence in the Asia Pacific region, doubling its assets under management in Singapore and increasing its regional assets to over €170b.
The acquisition is complemented by a long-term distribution agreement with UOB, which will leverage UOBAM’s South-East Asian investment expertise and UOB’s extensive retail network. This partnership aims to deliver a broader range of investment solutions to clients across the region. Tobias Pross, CEO of AllianzGI, stated, “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.”
The deal provides AllianzGI with an established presence in high-growth markets such as Thailand, Malaysia, and Vietnam, enhancing its ability to offer innovative investment capabilities. UOB’s Deputy Chairman and CEO, Wee Ee Cheong, highlighted the partnership’s potential to meet the evolving wealth and investment needs of over 8 million ASEAN customers.
This strategic move underscores AllianzGI’s commitment to expanding its market reach and enhancing client offerings in South-East Asia, promising new opportunities for both firms and their clients. Completion of the transaction will mark a significant milestone in AllianzGI’s growth trajectory in the region.
