UBS has announced a new chairman of its Brazil business as well as a new chief of investment banking in Latin America’s biggest market as it seeks to regain the momentum it lost in the region following its sale of Pactual.
Lywal Salles, who becomes chairman, joins from Banco Itaú Europa International and Itaú Europa Securities. Salles is understood to still be negotiating his starting date but is expected to join UBS this month. He will be responsible for oversight of all UBS’s businesses in Brazil and reports jointly to Robert Wolf, chairman and chief executive of UBS Americas, and Raul Esquivel, head of UBS’s investment bank for Latin America.
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