Established in 1986, the UOB subsidiary had about $37.2 billion of assets under management at the end of the first quarter, its website shows. Based in Singapore and wholly owned by UOB, the asset manager also has a presence in Brunei, Indonesia, Japan, Malaysia, Taiwan, Thailand and Vietnam.
United Overseas Bank (UOB) is exploring options for its asset management arm, including a possible sale, according to people familiar with the matter, as the Singaporean lender seeks to streamline. UOB is working with a financial adviser on a potential sale of UOB Asset Management, the people said, asking not to be identified because the deliberations are private. Other options include bringing in a partner to boost the unit’s growth, the people said.
A transaction may value UOB’s asset management business at several hundred million dollars, some of the people said.
