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Manila Bulletin devider Business devider Banking & Finance devider Deanno Basas named president of UnionBank's investment arm ahead of ATRAM merger

Deanno Basas named president of UnionBank's investment arm ahead of ATRAM merger

Published May 16, 2025 10:01 am  |  Updated May 16, 2025 03:06 pm
Union Bank of the Philippines (UnionBank) and ATRAM Group (ATRAM) have appointed Deanno J. Basas as President of UnionBank Investment Management and Trust Corporation (UBIMTC) prior to its merger into ATR Asset Management, Inc. (AAMI).
The bank said in a disclosure to the Philippine Stock Exchange that, Basas was chosen by the UBIMTC Board of Directors last May 8, 2025.
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 oby the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) of UnionBank’s acquisition of a 27.5 percent equity stake in AAMI, ATRAM's mutual fund management arm.
The BSP also gave the green light for the acquisition by AAMI of 100 percent 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.

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Union Bank of the Philippines ATRAM Group Deanno J. Basas UnionBank Investment Management and Trust Corporation ATR Asset Management
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