UnionBank, ATRAM merge to form P485B asset management firm

The ATR Asset Management Group (ATRAM Group) and UnionBank have completed their merger of trust units, forming the fourth-largest private asset management firm in the Philippines with combined assets of about P485 billion.

This merger follows the Bangko Sentral ng Pilipinas' approval last month and was announced in November 2024.

Under the deal, UnionBank acquired a 27.5% stake in ATRAM Group's ATR Asset Management, Inc., while ATRAM Group fully took over UnionBank Investment Management and Trust Corp (UBIMTC).

The combined entity will offer personalized wealth management solutions to clients by leveraging UnionBank's digital leadership and ATRAM's investment expertise.

UnionBank President Ana Maria Aboitiz-Delgado highlighted that this partnership marks a pivotal step towards smarter, more accessible wealth solutions for Filipinos through digital-first innovation.

ATRAM Group CEO Michael V. Ferrer emphasized the potential to drive long-term financial growth and raise industry standards by combining digital innovations with investment expertise.