The move indicates how India’s rise as a wealth management market is attracting international players.

UBS has announced that it has bought a 4.8 per cent stake in India-based 360 One WAM Ltd, an independent wealth and asset management business.

The Swiss bank said in a statement today that the move, which involved converting warrants into shares, has wrapped up a transaction that started last year. UBS had subscribed to 20,502,939 warrants on a preferential basis regarding an agreement it entered with 360 ONE. The warrants were allotted on 21 July last year. A quarter (25 per cent) of the warrant exercise price was paid at the time of allotment. 

UBS said it has exercised all the warrants, paying the remaining 75 per cent of the exercise price.

In April 2025, Zurich-listed UBS said it had entered an exclusive strategic collaboration with the India firm, which oversees about $95 billion in assets under management (source: Investing.com, 16 October). Shares in the firm have declined about 13 per cent since the beginning of January.

UBS's move to work alongside an Indian wealth manager highlights how India’s rapid growth, and expansion of its affluent/HNW middle class, is seen as an important market. Several international firms have set up or expanded operations in the country in recent years, such as LGT, HSBC, Standard Chartered, DBS, and others.

As part of the collaboration, clients from both institutions will obtain access to onshore and offshore wealth management solutions. 

As announced in April, UBS said it will transfer its onshore wealth management business in India to 360 ONE, while 360 ONE clients booked in Singapore will be served by UBS Singapore.