Beginning today the firm will operate in Brazil under the name UBS Pactual. The firm will offer Investment Banking, Asset Management and Wealth Management services to clients across Latin America.

Huw Jenkins, Chairman and CEO of UBS Investment Bank said, "This transaction underscores our continued commitment to expanding in emerging markets. Our team at UBS Pactual adds a great depth of talent to the firm and will be instrumental in delivering our global product offering to this important regional client base."

Andre Esteves, Chairman and CEO of UBS Latin America said, "This is a significant step forward for UBS's expansion in Latin America. Our complementary market leading positions in capital markets, research, advisory and wealth and asset management enable us to build the leading financial services firm in the region."

Within Brazil, UBS Pactual employs approximately 750 people and has offices in Rio de Janeiro, São Paulo, Belo Horizonte and Recife.

UBS