One of Brazil’s last large, independent multi-family offices scooped up by UBS

Swiss banks including Julius Baer Group and Credit Suisse Group are already well-positioned in Brazil and are wagering on continued expansion of the private-banking industry.

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UBS names Velez head of Latin America wealth management

The Swiss bank said Velez would take on the role in addition to his current responsibilities as head of global ultra-high net-worth Latin America, effective immediately.

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