Union Bank of the Philippines and the ATRAM Group have entered into a strategic investment agreement, under which UnionBank will acquire a 27.5 percent stake in ATR Asset Management Inc. The remaining 72.5 percent of ATRAM will be retained by existing shareholders.
The investment agreement also involves the merger of UnionBank and ATRAM trust subsidiaries–Union Bank Investment Management and Trust Corporation) and ATRAM Trust Corp. — to create a company that has assets under management in excess of P485 billion. ATC will be the surviving entity
The consolidation is expected to enhance the scale, capabilities, and innovation potential of both organizations. By combining UnionBank’s digital banking expertise with ATRAM’s strong asset management solutions, the partnership seeks to offer clients a diverse and high-quality range of financial products.
UnionBank, a recognized leader in digital banking with over 15 million clients, will benefit from ATRAM’s extensive retail investor base. ATRAM, which has democratized investing through its digital platforms, currently serves over 2 million retail investors. Both organizations have received numerous accolades for their excellence in their respective sectors.
“This partnership strengthens our offerings and provides tailored services to our customers, particularly our larger Wealth client base, following the acquisition of Citibank Philippines’ consumer banking business. We are committed to delivering the best financial solutions while creating broader career opportunities for our employees in this dynamic organization,” said Edwin R. Bautista, UnionBank president and chief executive officer.
“This merger represents a significant milestone for ATRAM as we join forces with UnionBank, a leader in digital innovation. Together, we will reshape the asset management industry in the Philippines, offering an expanded suite of investment solutions and delivering greater value to our clients,” said Michael V. Ferrer, CEO of ATRAM.
The transaction is subject to regulatory approval and will undergo a detailed evaluation process to ensure seamless integration while prioritizing client service and employee well-being. AlphaPrimus Advisors acted as financial advisor to ATRAM, while Exchange Equity Partners served as financial advisor to UnionBank.
