UBS enters into local partnership in India for wealth management
Keystone-SDA
UBS has entered into a strategic partnership in India to expand its wealth management business. The partner is 360 One Wam Ltd, one of India’s largest independent wealth managers and asset managers according to UBS.
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The partnership will combine the global and regional expertise of UBS with the local know-how of 360 One, as UBS announced on Tuesday. Clients of both institutions will have access to onshore and offshore wealth management services.
UBS’s domestic business in India will be transferred to 360 One, while clients of 360 One in Singapore will in future be served by UBS in Singapore. The changes have yet to be approved by the relevant authorities.
In addition, UBS will acquire the rights to acquire a 4.95% stake in 360 One. Financial details of the transaction will not be disclosed.
Adapted from German by DeepL/jdp
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