Germany’s Allianz Global Investors has completed acquiring RHB Asset Management Indonesia, which will be renamed Allianz Global Investors Asset Management Indonesia upon government approval.
It bought the firm, which had US$340 million of assets under management as of end-2021, for an undisclosed sum from RHB Sekuritas Indonesia, a wholly-owned unit of Malaysia’s RHB Bank. The deal was announced last July.
The acquisition is an “important addition to AllianzGI’s established presence in Asia, reinforcing its commitment to Southeast Asia’s and Indonesia’s fast-growing financial market”, the company says in a statement recently.
According to Desmond Ng, Allianz Global Investors’ head of Asia Pacific, Asia is a growth market for the company “and we look forward to further accelerating the business integration in Indonesia and taking our business in Asia to the next level”.
“As one team we will engage investors locally and introduce our best-in-class investment solutions managed by our investment professionals across the globe,” he says in the statement.
Allianz Global Investors had 647 billion euros ($741.75 billion) of assets under management as of end-September 2021.
