Allianz Global Investors ("Allianz GI") agreed to acquire UOB Asset Management ("UOBAM") from Singapore's UOB Group ("UOB") to expand in Southeast Asia. The deal brings Allianz GI's regional assets to EUR 170 bn and includes a long-term distribution partnership with UOB's retail network of over 8 million customers.

The acquisition provides Allianz GI immediate licensed presence in high-growth markets including Thailand, Malaysia, and Vietnam, while doubling its Singapore AUM where it has operated since 1999. UOBAM contributes EUR 28bn in assets and complementary Southeast Asian investment expertise, including Sharia-compliant offerings.

Tobias Pross, CEO of Allianz GI, said the deal "significantly accelerates our growth in this dynamic region." Wee Ee Cheong, UOB's Deputy Chairman and CEO, emphasized the partnership sharpens their wealth advisory focus. The transaction, priced at SGD 555m / EUR 376m, requires regulatory approval and expects completion in 2027.