UBS, Banco do Brasil form new investment bank

UBS, Banco do Brasil form new investment bank

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Banco do Brasil has partnered with Switzerland's UBS to form a new investment bank in Brazil and other countries in South America, subject to regulatory approval. UBS will own 50.01% of the new venture, while the Brazilian state-owned lender's investment banking division, BB Investimentos, will have 49.99%, Banco do Brasil said in a securities filing. BB Investimentos will provide "exclusive rights to corporate clients" to the new business, and UBS will contribute its investment banking and  ins

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