Following the formalization of the strategic partnership between ATRAM Group (ATRAM) and Union Bank of the Philippines (UnionBank) last May 8, 2025, Deanno J. Basas was appointed as President of UnionBank Investment Management and Trust Corporation (UBIMTC) by the UBIMTC Board of Directors. He will concurrently remain as the Chief Experience Officer of ATRAM Trust Corporation (ATC), the trust and fiduciary services entity of the ATRAM.
Prior to this appointment, Basas held the position of President at ATC until 2022 and subsequently led ATRAM Digital as CEO, where he spearheaded the company’s digital transformation. He brings over 30 years of local and international experience in treasury trading and asset management to his new role.
The appointment follows the approval of the following transactions by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) in April 2025:
- UnionBank will acquire a 27.5% equity stake in ATR Asset Management, Inc. (AAMI), ATRAM’s mutual fund management arm.
- AAMI will acquire 100% ownership of UBIMTC, UnionBank’s wholly owned subsidiary for investment management and trust services.
These transactions pave the way for the proposed merger of UBIMTC and ATC, subject to further regulatory approvals, with ATC as the surviving entity. The timeline for the merger is yet to be finalized.
This strategic partnership leverages UnionBank’s advanced digital capabilities and ATRAM’s deep wealth management expertise. The collaboration aims to enhance financial solutions, broaden access to investment opportunities, and foster greater financial inclusion across the Philippines.
Updates regarding significant developments will be released as they become available.