Pheim Asset Management Acquired by Affin Bank | Financial Services M&A Deal

Affin Bank has completed the acquisition of Pheim Asset Management, a wealth management ria business in Malaysia, for RM50 million. Affin Bank acquisitions expand fee-based investment solutions through Pheim Asset Management, which was established in 1993 and provides asset management services to institutional, corporate, and retail clients. The Pheim Asset Management group includes Pheim Islamic Asset Management Sdn Bhd and Pheim Unit Trusts Bhd, managing about RM832.8 million in assets under management and advisory as of March 31, 2026. This strategic acquisition is a divestiture acquisition completed as a wholly owned subsidiary, strengthening Affin Bank’s universal banking position and wealth management ria acquisition strategy within financial services M&A.