Allianz Global Investors (AllianzGI) is in exclusive talks to buy the asset management division of United Overseas Bank (UOB), with the transaction details being finalized as of June 5, 2026 [1, 2, 3, 4, 5]. AllianzGI outbid competitors including Amundi SA, KKR & Co, and Temasek Holdings' Seviora to become the likeliest buyer [1, 2, 3, 4, 5].
The deal could be valued at up to S$600 million (about US$467 million) and is still subject to final agreement [1, 2, 4, 5]. UOB Asset Management, a wholly owned UOB subsidiary founded in 1986, manages over S$41 billion in assets as of late 2025 [1, 2, 3, 4, 5]. The firm has offices in Singapore, Brunei, Indonesia, Japan, Malaysia, Thailand, Vietnam, and Taiwan according to some reports [1, 2, 3, 4, 5].
AllianzGI, which had nearly €600 billion (approximately S$896 billion) in assets under management as of March 31, 2026, is owned by German insurer Allianz SE, the parent company also of Pacific Investment Management Co [1, 2, 3, 5].
UOB began exploring options for its asset management business in December 2025 to streamline its portfolio, including a possible sale [1, 2, 4, 5]. A UOB spokesperson said, "UOB said it is focused on delivering long-term value for shareholders and meeting the customer needs, but declined to comment further" [1]. Similarly, a representative for AllianzGI declined to comment on the talks [1].
The negotiations are ongoing with no final decision yet as of June 5, 2026 [1, 2, 3, 4, 5].
