Woori Bank and Woori Asset Management Join Forces with Nubin for IB and Fund Business Collaboration

Global Asset Management Subsidiary of US TIAA

Woori Bank and Woori Asset Management announced on the 16th that they signed a memorandum of understanding (MOU) for a strategic partnership with the global asset management company Nuveen on the 14th.

Nuveen is a global asset management subsidiary of the Teachers Insurance and Annuity Association of America (TIAA), the largest pension fund in the United States, boasting a history of 125 years. It currently provides various investment solutions to 1,300 institutions in 32 countries worldwide, including major global pension funds, managing assets worth approximately $1.2 trillion.

With Nuveen’s platform focused on infrastructure and real estate loans gaining significant interest from domestic institutional investors, it plans to strengthen its presence in the Korean market through a partnership with Woori Bank and Woori Asset Management.

Through this agreement, Woori Bank will jointly discover global high-quality acquisition finance, infrastructure, and real estate loan investment opportunities to enhance its global IB competitiveness. Additionally, Woori Asset Management will cooperate to promote new businesses and strengthen its product lineup by launching retail funds related to retirement pensions, global corporations, and real estate investments, as well as launching overseas investment feeder funds exclusively for domestic institutions.

A Woori Bank official stated, “We expect that the strategic partnership with Nuveen, a major global asset manager, will expand the global network and IB capabilities of Woori Bank and Woori Asset Management,” adding, “Through this agreement, we will expand synergy among subsidiaries within the group to provide customers with diverse and competitive global fund products.”