UnionBank of the Philippines has taken a decisive step in consolidating its wealth and fiduciary business after its trust subsidiary completed a landmark merger with ATRAM Trust Corporation, the first transaction of its kind in the Philippine trust industry.

The merger between ATRAM Trust Corporation and UnionBank Investment Management and Trust Corporation took effect on 9 January 2026, following approvals from the Bangko Sentral ng Pilipinas and registration with the Securities and Exchange Commission.

ATRAM emerged as the surviving entity and assumed all fiduciary and investment management responsibilities previously handled by UnionBank’s trust arm.

Leveraging partnerships strategy sharpened

For UnionBank, the transaction sharpens its strategy of leveraging partnerships to scale specialized financial services while keeping its focus on digital banking and platform-driven growth.

By integrating its trust operations with ATRAM, UnionBank effectively embeds ATRAM’s investment management expertise into its broader digital and client ecosystem, expanding access to trust, wealth and investment solutions for its customers.

“This merger brings together two institutions with complementary strengths and a shared commitment to fiduciary excellence,” said Deanno Basas, president of ATRAM Trust Corporation, noting that the completed transaction positions the combined platform to deliver a broader range of services while maintaining strong governance and risk management standards.

UnionBank’s preference

The deal also signals UnionBank’s preference for collaboration over in-house expansion in highly specialized segments such as trust and asset management. Through ATRAM, UnionBank clients gain access to a wider suite of investment and fiduciary products, supported by the bank’s digital infrastructure and extensive customer reach.

The transaction could serve as a template for how banks rationalize non-core but value-adding businesses under tighter regulatory oversight and rising client expectations.

As the first merger between trust corporations in the country, it sets a precedent for further consolidation in the sector — one anchored on scale, technology and regulatory compliance.