A few years after the game-changing purchase of Citi’s Philippine assets, Insider Info learned of talks of a potential transaction with ATR Asset Management (ATRAM) Group, one of the country’s largest and oldest fund managers.
UnionBank declined to comment, but industry insiders noted that this move is a good fit, especially given the banking group’s aggressive expansion into the retail space.
The investment house holds financial leaders like Michael Ferrer, CEO of ATRAM Group, and Phillip Hagedorn, president of ATRAM Trust Corp., in high regard. ATRAM Trust Corp., in particular, managed over P350 billion in assets as of January this year.
In addition to its retail expansion, we’re told UnionBank is eager to elevate its wealth management business, an area where ATRAM excels.
Watch this space, folks.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
