Following the formalization of a strategic partnership between ATRAM Group and Union Bank of the Philippines (UnionBank) on May 8, 2025, Deanno J. Basas has been appointed as President of UnionBank Investment Management and Trust Corporation (UBIMTC). The appointment was confirmed by the UBIMTC Board of Directors.
Basas will concurrently serve as Chief Experience Officer of ATRAM Trust Corporation (ATC), ATRAM’s trust and fiduciary services arm. He previously served as President of ATC until 2022 before leading ATRAM Digital as Chief Executive Officer, where he oversaw the company’s digital transformation. He brings over three decades of local and international experience in treasury trading and asset management to his new leadership role.
The leadership change comes on the heels of several key transactions approved by the Bangko Sentral ng Pilipinas (BSP) Monetary Board in April 2025:
- UnionBank will acquire a 27.5% equity stake in ATR Asset Management, Inc. (AAMI), the mutual fund management arm of ATRAM.
- AAMI will acquire full ownership of UBIMTC, UnionBank’s subsidiary for investment management and trust services.
These developments pave the way for a proposed merger between UBIMTC and ATC, with ATC as the surviving entity. The merger remains subject to further regulatory approvals, and a timeline has yet to be finalized.
The partnership between ATRAM and UnionBank aims to harness UnionBank’s digital capabilities and ATRAM’s expertise in wealth management to expand access to investment solutions and promote greater financial inclusion nationwide.
Further updates on the merger and strategic initiatives will be announced as they unfold.
