Allianz Global Investors takes over UOB Asset Management

The deal expands its footprint into Thailand, Malaysia and Vietnam.

Allianz Global Investors (AllianzGI) has agreed to acquire UOB Asset Management (UOBAM) from Singapore-headquartered UOB Group. 

The deal will increase AllianzGI's assets under management in the Asia-Pacific region to over $196.4b (€170b).

The acquisition gives AllianzGI access to fast-growing markets, including Thailand, Malaysia, and Vietnam, whilst expanding its existing operations in Singapore, Taiwan, and Indonesia.

Under the agreement, AllianzGI will integrate UOBAM’s South-East Asian investment capabilities—such as regional and single-country equity strategies and Sharia-compliant funds—with its own global active investment offerings.

The deal is accompanied by a long-term distribution agreement. This partnership grants AllianzGI access to UOB’s retail client network across South-East Asia, where UOB currently serves more than 8 million customers.

Tobias Pross, CEO of AllianzGI, stated that adding UOBAM’s regional expertise to the firm's global platform will accelerate growth and broaden its investment and retirement offerings across the region.

Wee Ee Cheong, Deputy Chairman and CEO of UOB, said the deal allows the bank to sharpen its focus on wealth advisory and distribution whilst maintaining client and employee continuity during the transition period.

($1.00 = EUR0.87)