View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
April 30, 2010updated 04 Apr 2017 3:54pm

UBS re-enters Brazil market with brokerage buy

Swiss bank UBS is to re-enter the Brazilian market following its acquisition of Brazilian brokerage firm Link Investimentos for BRL195m ($113m). BTG Pactual, the bank created by former UBS executives in Brazil, is Brazils second largest private bank with BRL12.4bn of assets under management, according to PBIs latest Brazil survey.

By PBI Editorial

Swiss bank UBS is to re-enter the Brazilian market following its acquisition of Brazilian brokerage firm Link Investimentos for BRL195m ($113m).

The acquisition follows UBS’ exit from the onshore market in Brazil last year when it sold UBS Pactual for $2.5bn.

BTG Pactual, the bank created by former UBS executives in Brazil, is Brazil’s second largest private bank with BRL12.4bn of assets under management, according to PBI’s latest Brazil survey.

Link Investimentos is one of the largest independent broker-dealers in Brazil with a strong position in equities, equity research and equity derivatives, as well as exchange traded foreign exchange, fixed income and commodity products.

Once the deal is approved by Central Bank of Brazil, its businesses will be integrated into the investment bank, wealth management and asset management divisions of UBS.

The transaction is expected to close during the fourth quarter 2010 and the combined entity in Brazil will be re-branded as UBS.

UBS investment bank co-chief executive Alex Wilmot-Sitwell said the acquisition provided a platform for UBS to re-build its presence and expand its footprint in Brazil.

 

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International