Swiss banking giant UBS has agreed to sell its India-based wealth management business to 360 ONE Wealth (formerly IIFL Wealth) for ₹3.07 billion (around $36 million). As part of the deal, UBS will also take a 4.95% equity stake in 360 ONE, marking the start of a long-term strategic partnership between the two financial firms.
A Win-Win Deal
This move allows UBS to streamline its global operations while maintaining a foothold in India’s fast-growing wealth management sector. By acquiring nearly 5% of 360 ONE, UBS aims to stay connected with India’s rising pool of high-net-worth individuals (HNIs) and emerging investors.
On the other hand, 360 ONE gets a valuable boost by taking over UBS’s India operations, gaining access to a strong client base, experienced team members, and robust advisory systems. This acquisition is expected to strengthen 360 ONE’s leadership in the premium wealth management space.
Why UBS Is Shifting Gears
UBS had exited India’s onshore wealth business once before in 2014, but returned in 2021 to tap into the growing demand for professional wealth advisory services. However, the bank seems to be refocusing its strategy by forming regional alliances instead of operating directly.
Experts suggest that UBS’s decision aligns with a broader trend among global financial institutions: building strategic partnerships instead of running high-cost, independent operations in emerging markets.
360 ONE’s Growth Path
360 ONE has been rapidly expanding its presence in the Indian wealth sector. With assets under management of over ₹4 lakh crore, it serves affluent individuals, entrepreneurs, and family offices. The UBS acquisition will help it further scale its services, enhance technology capabilities, and deepen its market reach.
The company has said that the UBS team will join 360 ONE, ensuring a smooth transition for clients and continuity in service quality.
What This Means for India’s Wealth Market
India’s wealth management industry is expected to grow significantly over the next decade. Rising incomes, increased financial awareness, and a shift towards diversified investments are driving demand. The UBS-360 ONE deal highlights the growing global interest in India’s financial future.
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