NEW DELHI (dpa-AFX) - UBS has entered into a strategic partnership with 360 ONE WAM Ltd, one of India's leading independent wealth and asset management firms. The collaboration leverages UBS's global and regional expertise alongside 360 ONE's deep local insights and extensive network, promising enriched benefits for clients. The partnership marks a milestone in the evolution of UBS's global Indian wealth management business.
As part of the collaboration, it is proposed that 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. UBS will acquire warrants for a 4.95% stake in 360 ONE, demonstrating UBS's commitment to the fast-growing ultra and high-net-worth Indian market.
UBS noted that a joint committee led by senior leadership from both institutions will be established to explore growth opportunities.
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