Allianz Global Investors to Buy UOB's Asset-Management Franchise in Eight Asian Markets

By Megan Cheah

Allianz Global Investors has agreed to buy United Overseas Bank's asset-management franchise for around US$430 million, as the German company seeks to expand its footprint in Asia.

Under the deal, Singapore-based UOB and AllianzGI will establish a long-term distribution partnership that broadens the investment solutions available to UOB's customers, the lender said Wednesday.

UOB expects to receive a pretax gain of around 330 million Singapore dollars, equivalent to US$257.4 million, excluding one-off transaction costs, from the deal, which is part of efforts to focus on its strategic priorities.

UOB Asset Management had around S$42 billion in assets under management as of end-December. The deal will bring the assets that AllianzGI manages for its clients across the Asia-Pacific region to more than 170 billion euros, equivalent to US$196.04 billion, the asset-management arm of German insurer Allianz said Wednesday.

The eight markets involved in the deal are Singapore, Brunei, Indonesia, Japan, Malaysia, Taiwan, Thailand and Vietnam. AllianzGI said the deal will provide the company access to high-growth markets including Thailand and Vietnam, while expanding its scale in markets where it already has a presence, such as Singapore and Taiwan.

The deal is expected to be completed in 2027, subject to regulatory approval.

UOB's shares were 0.5% lower at S$43.05 in early afternoon trading after the announcement.

Write to Megan Cheah at megan.cheah@wsj.com

(END) Dow Jones Newswires

August 05, 2026 02:09 ET (06:09 GMT)