UOB says an open-architecture approach to asset management choices for clients is an important factor in its thinking. The bank and Allianz Global Investors have agreed a strategic partnership arrangement.

Singapore’s United Overseas Bank has agreed to sell its asset management arm to Allianz Global Investors for S$555 million ($433 million), a deal that bolsters UOB’s capital.

The deal is expected to be closed in 2027, subject to regulatory approvals, UOB said in a statement yesterday.  

As of 31 December 2025, the asset management business had about S$42 billion assets under management. When the unaudited pro forma-consolidated balance sheet of UOBAM and its subsidiaries are considered, based on figures for 31 December 2025, the net asset value attributable to the stake sold was S$223 million, UOB said.

UOB said the deal is expected to generate a pre-tax gain of about S$330 million and raise its Common Equity Tier 1 ratio by 14 basis points. The bank said it is “crystallising value” from its asset management business and keeping a “strategic collaboration through a long-term partnership.” 

The organisations will set up a strategic distribution partnership. This will add to UOB's role as an “open-architecture wealth distributor,” it said. 

The acquisition by AGI covers the UOBAM franchise in Singapore, Brunei, Indonesia, Japan, Malaysia, Taiwan region, Thailand and Vietnam. 

All 500 existing UOBAM employees across the region will move to AGI, which pledges to maintain and continue their employment, while offering employees opportunities to be part of a larger global investment platform. During a transition period, UOBAM's operations will continue as usual.

UOB pointed to its open-architecture investment approach as a rationale for the deal. The transaction also “supports UOB's wealth growth ambitions by broadening customers' choice and offering diversified solutions aligned with their investment profiles, life stages and financial goals,” it said.  

The asset management business has been part of UOB for 40 years. 

Left to right: Leong Yung Chee, chief financial officer, UOB, with Tobias Pross, CEO, Allianz Global Investors.