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UBS completes acquisition of Link Investimentos in Brazil
Leading local financial services firm is foundation for UBS Brasil expansion as they look to strengthen wealth management and onshore investment banking services.
NEW YORK & SÃO PAULO-UBS AG, one of the world's largest and best capitalized financial services firms with a market capitalization of CHF 54,73 billion and invested assets of CHF 2.2 trillion1, announced today that the firm has completed its agreed acquisition of Link Investimentos, Brazil's largest independent brokerage firm.
The transaction strengthens UBS Brasil, a financial institution based in São Paulo, and establishes a strong platform for the expansion of UBS in Brazil, enabling the bank to provide a full range of wealth management and onshore investment banking services, operating in the equity derivatives, equities, options, exchange-traded fixed income, currencies and commodities in the local and international markets. Combining the operations of one of the largest global financial services firms with the operations of an institution with a strong local presence, UBS aims to become a leader in wealth management and investment banking in the Brazilian market, offering clients a full range of products and services, as well as access to its global capacities and resources.
Link Investimentos has been at the top of the BM&FBovespa ranking of derivatives transactions for the last 11 years, having traded 217 million contracts in 2012, representing a 16% market share. Also in 2012, Link achieved the second position in the BM&FBovespa ranking of shares transactions, with a total volume of BRL 316,893 million, representing an 8.9% market share. UBS Brasil will also incorporate Link's research department, which has consistently figured in the Central Bank's “Top 5” ranking.
As a reflection of its renewed commitment to Brazil, UBS recently opened a new office in the heart of São Paulo's financial district, which will become the new headquarters of UBS Brasil.
Robert McCann, UBS Americas CEO, said: “Expanding in Brazil, one of the largest and most important emerging markets, is a strategic priority for UBS and offers excellent growth opportunities for our firm, clients, employees and shareholders. Bringing UBS and Link Investimentos together further strengthens our regional presence and adds deeper local knowledge and market expertise."
Lywal Salles, Chairman of UBS Brasil, said: "Link Investimentos has had a history of success in Brazil and its acquisition strengthens our local presence. We share with our new partners a common desire to build a first rate organization, highly regarded, in this market. It has been a pleasure, personal and professional, to interact with Link’s team."
Daniel Mendonça de Barros, CEO of Link Investimentos, henceforth to be called UBS Brasil Corretora, added: “We are excited to join UBS and build upon the success that Link has had in creating a leading financial services organization in this important and dynamic market. I am quite confident that our clients will benefit greatly from UBS's global product offering and client-focused advice and services."
Brazilian clients can learn more about UBS Brasil at www.ubs.com/brazil.
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Notes to Editors
UBS draws on its 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. Its business strategy is centered on its pre-eminent global wealth management businesses and its universal bank in Switzerland. Together with a client-focused Investment Bank and a strong, well-diversified Global Asset Management business, UBS will expand its premier wealth management franchise and drive further growth across the Group.
UBS is present in all major financial centers worldwide. It has offices in more than 50 countries, with about 35% of its employees working in the Americas, 36% in Switzerland, 17% in the rest of Europe, the Middle East and Africa and 12% in Asia Pacific. UBS employs about 63,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
About Link Investimentos
With a professional attitude based on transparency, efficiency and credibility, Link Investimentos was founded in 1998 as an independent brokerage firm to operate in the Brazilian Futures Exchange and Commodities (BM&F), with offices in São Paulo and Curitiba. Since 2002, Link has been the number one in the BM&FBovespa ranking of derivatives transactions. In 2004, it started operating also in the shares and options markets in the São Paulo Stock Exchange (then, Bovespa) and Government Bonds. In that same year, Link concluded an agreement with the clearing house Man Financial, signed an agreement to be an Introducer Broker and registered at the National Futures Association, becoming one the leading Brazilian commodities dealers in New York, Chicago, London and Asia. In 2012, Link reached the second position in the BM&FBovespa ranking of shares transactions. In the foreign commodities exchanges, Link operates in the name of its clients in soya, corn, coffee, wheat, oil, metals and sugar. Link is currently the largest Brazilian independent brokerage firm. It serves an institutional client base in the futures,, options, over-the-counter, variable income, private and government bonds, local and international commodity markets.. It is a private partnership with 72 partners and approximately 170 employees.