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Banking

Investment banking: UBS fills Brazil leadership roles

Swiss bank announces key hires; Next step in recovery from Pactual sale

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.

Eduardo Centola becomes chief executive of UBS investment bank, Brazil. Centola is a well-known banker in the region. He joins from Standard Bank, where he most recently was head of the Americas. Previously, he was at Goldman Sachs, where he was co-head of Latin America investment banking. Before joining Goldman Sachs, he was co-head of Latin American M&A at Merrill Lynch.

UBS has also announced that Daniel Mendonça Barros will become chief executive and head of securities of UBS’s broker-dealer business in Brazil when its R$195 million ($114 million) acquisition of brokerage firm Link Investimentos is completed.

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