In a major deal in the wealth management space, 360 ONE WAM, one of India’s largest independent wealth and asset management firms, will be acquiring UBS AG’s Indian wealth business for ₹307 crore, while UBS will be picking up a 4.95 per cent stake in 360 ONE for Rs 2111.5 crore, by subscribing to its warrants, an exchange filing by the wealth manager showed.
360 ONE will issue over 2.05 crore convertible warrants to UBS at Rs 1030 each, the warrants being convertible to an equivalent number of shares within 18 months from the date of allotment.
The transaction effectively means that UBS will be giving up its onshore wealth business in India and taking on the offshore wealth business of the Indian wealth manager. 360 ONE’s acquisition includes UBS AG’s stock broking services and distribution business in India, discretionary and non-discretionary portfolio management services business on a slump sale basis and acquisition of the residual loan portfolio of wealth management clients. At the end of December 31, 2024, the active assets under management were at ₹26,000 crore.
UBS and 360 ONE have also announced an exclusive strategic collaboration that will combine the entities’ respective expertise, and 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. “A joint committee led by senior leadership from both institutions will be established to explore growth opportunities. This is a first step towards a powerful collaboration, which will further enhance the value proposition and unlock synergies for our clients and employees, taking the UBS global Indian wealth management business to the next level,” a statement said.
360 ONE clients based in Singapore will be served by UBS Singapore, subject to regulatory approvals.
“This strategic collaboration with 360 ONE will help accelerate our momentum in one of the world’s most significant and fastest-growing markets,” said Jin Yee Young, Co-Head of Global Wealth Management Asia Pacific at UBS.
Over a decade ago, UBS exited the wealth business in India and re-entered in 2023 as part of its global acquisition of Credit Suisse.
Published on April 22, 2025
