UBS announced Tuesday that it will transfer its Earth Heritage Management Business in India to 360 One Wam, one of the most large independent asset and wealth management firms in India, as part of a new strategic collaboration between the two companies.
According to the agreement, 360 One will acquire the local business of distribution and distribution of UBS shares, portfolio management and waste loan portfolio services in a transaction valued at 3.07 billion rupees ($ 36 million). Meanwhile, UBS will buy arrest orders for a 4.95 percent participation in 360 one.
The collaboration will allow the clients of both institutions to access combined solutions of heritage management on land and high seas. In addition, 360 A Singapore -based customer will be treated by UBS Singapore, subject to regulatory approvals.
“This strategic collaboration with 360 One will help accelerate our impulse in one of the fastest growing world markets,” said Jin Yee Young, co-co-establishment of Global Heritage Management Asia Pacific in UBS.
This movement continues the return of UBS to the wealth market in Indian land through its acquisition of Credit Suisse in 2023, since it previously came out more than a decade. Foreign private banks have historically fought in the Indian heritage management sector due to the intense competence of local companies and regulatory challenges.
Companions will establish a joint committee led by higher leadership to explore more growth opportunities, including possible collaborations in asset management products and investment banking services. The entire transaction remains subject to the necessary regulatory approvals.
Posted on April 22, 2025