360 One, UBS join forces for India wealth push

360 ONE has acquired UBS' India onshore wealth management arm under an exclusive strategic collaboration which combines 360 ONE’s local knowledge and reach with UBS’ global and regional expertise.

As part of the collaboration, 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, according to the announcement on Monday. 

In addition, UBS will also purchase warrants amounting to a 4.95% stake in 360 ONE, demonstrating the Swiss bank's commitment to the fast-growing ultra and high-net-worth Indian landscape. The entire transaction will be subject to the necessary regulatory approvals.

Fast-growing market

A joint committee led by senior leadership at both institutions will be established to explore growth opportunities. 

Akhil Gupta, chairman of 360 ONE, said: “This collaboration represents a strategic leap forward for both 360 ONE WAM and UBS —one that strengthens our position as a market leader in India and UBS’ offering as the wealth manager of choice for Global Indians. With this transaction, it opens the way for a global, personalised and sophisticated wealth management experience for both sets of clients as well as significant value enhancement to our employees and shareholders.”

Added Jin Yee Young, co-head Global Wealth Management for Asia Pacific at UBS: “We are proud of this latest milestone and convinced that this strategic collaboration with 360 ONE will help accelerate our momentum in one of the world’s most significant and fastest-growing markets. Together, we are best placed to serve our global Indian clients wherever they are as they seek greater opportunities, both domestically and globally.”