May 24, 2017 |
UBS has agreed to acquire a majority stake in Consenso Investimentos, one of Brazil's largest independent multi-family office and advisory firms.
The Sao Paulo-based asset manager oversees around BRL20bn ($6.1bn) in assets, with branches in Rio de Janeiro, Curitiba and Belo Horizonte. UBS expects to close the deal early in the third quarter.
The Swiss bank hopes the acquisition, which builds on the BRL8bn of assets it manages in Brazil, will "accelerate its expansion" in the country, Alejandr
Swiss bank advances push into Brazilian wealth management industry