UBS has had a bad year. The bank’s financial situation deteriorated to such an extent that it had to undertake a shotgun sale of its profitable Brazilian unit, Banco Pactual. The sale to Andre Esteves, a former Pactual partner, was priced at $2.4 billion in April. Market experts suggest the business is now worth more than $5 billion.
Now UBS is tentatively investing in the region once again. That’s not a surprise given the potential flow of business there.
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