Allianz to Buy UOB Asset Management Unit as CEO Targets Asia
Deals·1 article across 1 outlet
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Allianz SE agreed to buy the asset management unit of Singapore’s United Overseas Bank Ltd., marking the German insurer’s second major deal in recent days as Chief Executive Officer Oliver Baete pursues growth in the region.
This acquisition reflects Allianz's strategic focus on expanding its presence in Southeast Asia, a key market for the company as it seeks to enhance its asset management capabilities.
AllianzUnited Overseas BankOliver Baete
Sources
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“Allianz SE agreed to buy the asset management unit of Singapore’s United Overseas Bank Ltd., marking the German insurer’s second major deal in recent days as Chief Executive Officer Oliver Baete pursues growth in the region.”
Bloomberg — Allianz to Buy UOB Asset Management Unit as CEO Targets Asia