UBS announced it has paid the remaining 75 percent of the exercise price for 20.5 million warrants, converting them into a 4.8 percent stake in 360 One WAM valued at more than $200 million at the close of Wednesday’s trading.
The transaction follows a 2025 partnership in which UBS sold its onshore wealth‑management arm in India for $32 million, receiving warrants that could lift its equity to 4.95 percent. Bloomberg reports UBS has now exercised all warrants and completed the equity conversion.
360 One, which manages $82 billion in assets as of September, absorbed roughly $3 billion in client assets from UBS and ten relationship managers in September 2025. The move expands 360 One’s reach among ultra‑high‑net‑worth individuals, who currently account for about 10 percent of the Indian market.
Strategically, the deal gives UBS a foothold in a market where foreign banks face regulatory constraints, while 360 One gains a partner with global expertise and a larger capital base. CEO‑in‑training Aashish Agarwal said the partnership would accelerate 360 One’s expansion into Singapore, pending approvals.
Looking ahead, 360 One aims to lift its share of the UHNI market to 12–13 percent, a target that could drive further asset inflows. UBS is expected to report its next quarterly results in November, with analysts watching for any impact on its wealth‑management revenue and Indian market outlook.