Following the formalization of a strategic partnership between ATRAM Group and Union Bank of the Philippines (UnionBank) on May 8, 2025, industry veteran Deanno J. Basas has been appointed as President of UnionBank Investment Management and Trust Corporation (UBIMTC). The appointment was made by UBIMTC’s Board of Directors.
In addition to this new role, Basas will continue to serve as Chief Experience Officer of ATRAM Trust Corporation (ATC), ATRAM’s trust and fiduciary services entity.
Basas brings over three decades of local and international experience in treasury trading and asset management. He previously served as President of ATC until 2022 and most recently led ATRAM Digital as CEO, where he played a key role in driving the company’s digital transformation initiatives.
His appointment follows the Bangko Sentral ng Pilipinas (BSP) Monetary Board’s approval in April 2025 of the following transactions:
- 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 moves are part of a larger plan that includes a proposed merger between UBIMTC and ATC, pending further regulatory approvals. ATC is expected to be the surviving entity, though the exact timeline for the merger has not yet been finalized.
This strategic partnership combines UnionBank’s digital leadership with ATRAM’s wealth management expertise, aiming to offer enhanced financial solutions, expand access to investments, and promote greater financial inclusion across the Philippines.
For updates on this evolving partnership, visit www.atram.com.ph and www.unionbankph.com.
