Linklaters has advised United Overseas Bank Limited (UOB) on the proposed sale of its regional asset management business, UOB Asset Management (UOBAM), to Allianz Global Investors (AllianzGI) for S$555 million (approximately US$434 million).
This transaction represents a significant strategic pivot for UOB, supporting its transition towards an open architecture wealth model focused on advisory and product distribution. As part of the transaction, UOB and AllianzGI will establish a long-term strategic distribution partnership to provide a broader suite of investment products and wealth solutions to UOB’s customers across the region.
The transaction covers UOBAM’s asset management platform across eight key Asian markets – Singapore, Brunei, Indonesia, Japan, Malaysia, Taiwan, Thailand and Vietnam. UOBAM has approximately S$42 billion (approximately US$32.8 billion) in assets under management as of 31 December 2025.
The Linklaters multi-jurisdictional, multi-disciplinary team was led by corporate partners Matthew Middleditch and Karen Phang. The transaction drew on the firm’s corporate, financial regulation, TMT/IP, employment and tax expertise, with teams working seamlessly across Singapore, Hong Kong SAR, Jakarta, Bangkok, Shanghai and London. The wider core team included corporate partner Sophie Mathur, counsel Grace Wong and Daniel Tan, solicitor Stephanie Tsang and associate Yee Chong Ng. Specialist support was provided by TMT/IP partner Adrian Fisher with counsel Jia-Yi Tay and Sher Hann Chua; employment & incentives partner Laure de Panafieu and counsel Chaiyee Oh; and Eileen Tok on financial regulation matters, with tax support from Catherine Sam and Thomas Parish.
Linklaters’ corporate partner Matthew Middleditch commented:
“This is a significant strategic transaction combining the sale of a leading regional asset management platform with a long-term distribution partnership, which marks a strategic evolution in UOB’s wealth management strategy. It was a privilege to advise UOB on this transformative transaction that advances UOB’s wealth ambitions across Asia.”
With over five decades on-the-ground in Asia, Linklaters offers deep regional insight combined with the strength and depth of its leading integrated global platform to advice on complex, cross-border mandates involving multiple practice areas, jurisdictions and regulatory regimes.
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