UBS Buys Brazil Brokerage

May 6th, 2010 in Financial Translation
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UBS announced it acquired Link Investimentos, a Brazilian brokerage, for 195 million reais ($112 million).

“Brazil represents two-thirds of the Latin American economy and is expected to be the world’s fifth largest economy by 2015. It is crucial that we have on-shore capabilities to serve our clients in globally important markets such as Brazil.” Carsten Kengeter, Co-CEO of UBS Investment Bank, said in a statement.

Alex Wilmot-Sitwell, Co-CEO of UBS Investment Bank, said: “We view Brazil as a strategically important market with significant growth potential. The acquisition of Link Investimentos provides a platform for UBS to re-build our presence and expand our footprint in Brazil.”

UBS believes its clients will benefit from the addition of trading capabilities in Brazil, said Raul Esquivel, Head of Latin America for UBS Investment Bank.

Daniel Mendonça de Barros, CEO of Link Investimentos said he is excited to join UBS to build on the successes that Link has had in Brazil, and create a leading financial services organization.

“I am confident that our clients will benefit greatly from the global breadth of UBS’s product offering,” Barros added.

This article is available in Portuguese here.

 

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