November 7, 2019 / 12:31 AM / 16 days ago

BRIEF-UBS Says Co And Banco Do Brasil To Launch Leading Investment Bank In South America

Nov 6 (Reuters) - UBS Group AG:

* UBS AND BANCO DO BRASIL SET TO LAUNCH A LEADING INVESTMENT BANK IN SOUTH AMERICA

* NEW INVESTMENT BANK IS EXPECTED TO BE ESTABLISHED THROUGH COMBINATION OF ASSETS FROM BOTH STAKEHOLDERS

* THE CHAIRPERSON WILL BE APPOINTED BY BANCO DO BRASIL, AND UBS WILL APPOINT THE VICE-CHAIRPERSON AND CEO

* BANCO DO BRASIL AND UBS WILL EACH APPOINT THREE BOARD MEMBERS

* UBS GROUP -CO INTENDS TO CONTRIBUTE ITS OPERATIONAL INVESTMENT BANKING PLATFORM IN BRAZIL & ARGENTINA,& ITS INSTITUTIONAL BROKERAGE BUSINESS IN BRAZIL

* FOR THE NEW INVESTMENT BANK UBS WILL HOLD A 50.01% OWNERSHIP STAKE AND BANCO DO BRASIL 49.99%

* BANCO DO BRASIL INTENDS TO CONTRIBUTE EXCLUSIVE ACCESS RIGHTS TO ITS CORPORATE CLIENTS Source text for Eikon: Further company coverage:

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