ATR Asset Management, Inc. (AAMI), the mutual fund management arm of the ATRAM Group (ATRAM), announced its acquisition of UnionBank Investment Management and Trust Corporation (UBIMTC), the wholly-owned subsidiary of Union Bank of the Philippines (UnionBank). In a parallel move, UnionBank will acquire a 27.5% equity stake in AAMI.
These strategic transactions are designed to pave the way for the proposed merger of UBIMTC and ATRAM Trust Corporation (ATC), ATRAM’s trust and fiduciary services entity, with ATC as the surviving entity. The timeline for this merger remains subject to further regulatory approvals.
This landmark partnership unites UnionBank’s cutting-edge digital capabilities with ATRAM’s extensive wealth management expertise. The collaboration is strategically aimed at enhancing the delivery of innovative financial solutions, broadening access to diverse investment opportunities, and fostering greater financial inclusion for Filipinos across the nation.
In anticipation of the merger, the UnionBank Investment Management and Trust Corporation (UBIMTC) Board of Directors has appointed Deanno J. Basas as its new President. Mr. Basas will concurrently serve as the Chief Experience Officer of ATRAM Trust Corporation (ATC).
Mr. Basas brings a wealth of experience to his new role, with over 30 years in local and international treasury trading and asset management. He previously held the position of President at ATC until 2022 and subsequently led ATRAM Digital as CEO, where he spearheaded the company’s digital transformation initiatives.
ATRAM Group (ATRAM) stands as the leading independent asset and wealth manager in the Philippines. Recognized for its commitment to providing unparalleled investment solutions, ATRAM has established itself as a trusted and reliable partner in the industry. As of December 2024, ATRAM managed approximately Php 363 billion in assets.
This strategic alliance marks a significant step towards reshaping the Philippine asset management landscape, promising enhanced value and broader opportunities for investors.
