UnionBank Completes Trust Unit Merger with ATRAM

UnionBank of the Philippines has finalised the consolidation of its trust subsidiary with ATRAM Trust Corporation (ATC).

The merger between ATC and UnionBank Investment Management and Trust Corporation (UBIMTC) officially took effect on 9 January 2026, following approvals from the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission.

Under the agreement, ATC serves as the surviving entity, assuming all investment management and fiduciary responsibilities previously held by UnionBank’s trust arm.

The transaction aligns with UnionBank’s strategy to leverage partnerships for scaling specialised financial services while maintaining its focus on digital banking and platform-driven growth.

By integrating with ATC, UnionBank aims to embed external investment management expertise into its ecosystem.

This collaboration allows the bank’s clients to access a broader suite of wealth and trust solutions, supported by UnionBank’s digital infrastructure and customer reach.

Deanno Basas, President of ATRAM Trust Corporation, noted that the transaction combines two institutions with “complementary strengths”.

The deal signals a preference for collaboration over in-house expansion in highly specialised segments like asset management.

The ATRAM Group continues to operate mutual funds through ATR Asset Management Inc., alongside the consolidated trust services under ATC.

Featured image by user6699736 via Freepik.

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