Allianz Global Investors (AllianzGI) has entered into an agreement to acquire UOB Asset Management (UOBAM), the asset management arm of Singapore-based UOB Group. Both parties announced the deal on 5 August. Valued at SGD 555 million (around €376 million), the transaction significantly strengthens AllianzGI’s presence in South-East Asia.
The acquisition will lift the assets AllianzGI manages for clients in Asia Pacific to more than €170 billion. UOBAM itself brings around €28 billion in assets under management. Beyond Singapore, where AllianzGI has operated since 1999 and where the deal will immediately double its assets under management, the German asset manager gains an established, licensed on-the-ground presence in high-growth markets such as Thailand, Malaysia and Vietnam through UOBAM. UOBAM is also active in Brunei, Indonesia, Taiwan and Japan.
Alongside the acquisition, AllianzGI and UOB are entering into a long-term distribution agreement. This gives AllianzGI access to UOB’s retail client network, which spans more than 8 million customers across around 400 branches in the region. UOB is the third-largest bank in South-East Asia by total assets.
AllianzGI CEO Tobias Pross described UOBAM as “one of South-East Asia’s leading asset managers, with very well-regarded investment capabilities and a strong distribution network.” According to Pross, combining UOBAM’s regional expertise with AllianzGI’s global platform will boost the combined offering and significantly accelerate growth in the region.
Wee Ee Cheong, Deputy Chairman and CEO of UOB, also highlighted the complementary fit: by combining UOB’s advisory expertise and customer relationships with AllianzGI’s investment capabilities, the group is better positioned to meet clients’ increasingly diverse and sophisticated wealth and investment needs. For UOB, the deal fits a strategy of sharpening its focus on wealth advisory and distribution.
On the investment side, the two platforms are described as highly complementary: UOBAM contributes strong South-East Asian market expertise, including regional and single-country equity strategies and Sharia-compliant offerings, while AllianzGI adds a broad global product suite grounded in active management.
The transaction is subject to regulatory approvals and is expected to close in 2027. UOBAM, founded in 1986 and a wholly-owned subsidiary of UOB, will prioritise continuity for clients and employees during the transition period.
AllianzGI is an active asset manager with more than 700 investment professionals across 22 offices worldwide, managing a total of €653 billion in assets (figures as at 30 June 2026).
