# United Overseas Bank strategic restructuring > Live situation record from CLSTR: https://clstr.news/situations/united-overseas-bank-strategic-restructuring > Updated: 2026-08-17T23:00:07.000Z. Sources: 6. Developments: 2. United Overseas Bank (UOB) is implementing a strategic restructuring of its wealth management operations and regional leadership. The bank has agreed to sell its regional asset management business, UOB Asset Management (UOBAM), to Allianz Global Investors for S$555 million. This sale spans eight Asian markets and includes a long-term strategic distribution partnership to support UOB’s transition toward an open architecture wealth model. Concurrently, UOB has appointed Tan Choon Hin as the Head of ASEAN and Greater China, effective September 1, 2026. Tan, formerly the bank’s deputy chief risk officer, will oversee seven markets: Malaysia, Indonesia, Thailand, Vietnam, mainland China, Hong Kong, and Taiwan. This leadership move aims to leverage increasing trade and wealth flows between these regions and to strengthen the bank’s role as a cross-border partner in navigating geopolitical tensions and trade realignments. ## Timeline ### 2026-08-17: UOB appoints Tan Choon Hin to lead ASEAN and Greater China UOB has appointed Tan Choon Hin to lead its ASEAN and Greater China divisions to drive growth from increasing cross-border trade and investment flows between the two regions. 4 sources. https://clstr.news/cluster/uob-appoints-tan-choon-hin-to-lead-asean-and-greater-china ### 2026-08-17: United Overseas Bank sells asset management unit and appoints regional head United Overseas Bank is selling its regional asset management business to Allianz Global Investors for S$555 million and has appointed Tan Choon Hin as Head of ASEAN and Greater China. 2 sources. https://clstr.news/cluster/united-overseas-bank-sells-asset-management-unit-and-appoints-regional-head --- Cite as: United Overseas Bank strategic restructuring. CLSTR, https://clstr.news/situations/united-overseas-bank-strategic-restructuring