Leading global wealth manager UBS is taking a big step in India, the world's most populous country, with an exclusive strategic collaboration with 360 ONE WAM (360 ONE), one of India's largest independent wealth and asset management firms.
This strategic collaboration combines UBS’s global and regional expertise with 360 ONE’s local knowledge and reach to deliver enhanced benefits to clients, representing a significant advancement in UBS’s global Indian wealth management business.
This tie-up is subject to the usual regulatory requirements and approvals.
To signal its commitment to the fast-growing ultra and high-net-worth Indian market, UBS will sell its Indian onshore wealth business to 360 ONE for 3.07 billion rupees and acquire warrants for a 4.95% stake in its Mumbai-listed partner.
With the tie-up, clients from both institutions will have access to onshore and offshore wealth management solutions. Potential collaborative opportunities for asset management products and investment banking services will also be explored.
In addition, 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 Singapore, subject to the required approvals (including regulatory) as applicable.
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A joint committee led by senior leadership from both institutions will be established to explore growth opportunities.
"This strategic collaboration with 360 ONE will help accelerate our momentum in one of the world’s most significant and fastest-growing markets," says Jin Yee Young, co-head global wealth management Asia Pacific at UBS.
"Together, we are best placed to serve our global Indian clients wherever they are as they seek greater opportunities, both domestically and globally," she adds.
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Mihir Doshi, UBS India country head, UBS says this venture will significantly enhance the bank's local offering for its clients, giving them access to best-in-class wealth-management capabilities, both onshore and offshore.
"360 ONE’s robust onshore presence combined with our international Non-resident Indian (NRI) hubs enable us to bring the best of India to the rest of the world and the world to India," he adds.
Akhil Gupta, chairman of 360 ONE WAM says that this partnership with UBS opens the way for a global, personalized, and sophisticated wealth management experience for both sets of clients as well as significant value enhancement to its employees and shareholders.
Karan Bhagat, founder, MD & CEO, of 360 ONE says this venture is also a strong reflection of India’s growing prominence on the global wealth map.
"Clients of 360 ONE and UBS AG will benefit from a unique blend of global expertise and local insight—delivered through a platform that remains deeply committed to personalisation, trust, and long-term value creation," he adds.
