On Tuesday, UBS announced an exclusive strategic collaboration with 360 ONE WAM, one of India’s leading independent wealth and asset management firms, as it looks to strengthen its position in the growing Indian wealth management market.
UBS Enters Exclusive Strategic Collaboration with India’s 360 ONE WAM
As part of the deal, UBS will transfer its onshore wealth management business in India to 360 ONE, while 360 ONE clients booked in Singapore will be served by UBS.
UBS will also acquire warrants for a 4.95% stake in 360 ONE, signalling its long-term commitment to the Indian ultra and high-net-worth segment.
The collaboration combines UBS’s global capabilities with 360 ONE’s local expertise, allowing both firms to offer onshore and offshore wealth management solutions to their respective clients.
The two firms also said they will explore joint opportunities in asset management and investment banking.
“This strategic collaboration with 360 ONE will help accelerate our momentum in one of the world’s most significant and fastest-growing markets,” said Jin Yee Young, Co-Head of Global Wealth Management Asia Pacific at UBS.
360 ONE Chairman Akhil Gupta called the agreement “a strategic leap forward” for both firms, enhancing offerings for clients and creating shareholder value.
A joint leadership committee will oversee the collaboration and identify further growth opportunities.
UBS’s India Country Head Mihir Doshi said the agreement would “bring the best of India to the rest of the world and the world to India.”
