UBS on Monday announced changes to its Brazilian leadership team. The Swiss banking firm said Lywal Salles will join UBS as chairman of UBS Group Brazil and Eduardo Centola will join chief executive officer of UBS investment bank in Brazil.
Also, Daniel Mendonça Barros will become CEO of the UBS broker-dealer and head of the UBS securities business in Brazil when UBS's acquisition of Link Investimentos closes.
All three senior professionals will be based in São Paulo.
UBS deal to buy Link Investimentos is expected to close in fourth quarter 2010; with the purchase of Link Investimentos UBS will have more than 300 employees in Brazil.
Salles, 64, will be responsible for oversight of all UBS' businesses in Brazil. He now serves as chairman of the board of Banco Itau Europa International and Itau Europa Securities.
Centola, 42, joins from Standard Bank Group where he has most recently served as CEO of the Americas. Previously, he was at Goldman Sachs, where he was co-head of Latin America Investment Banking.
As CEO of UBS' broker-dealer and head of securities, Barros, 40, will have responsibility over the equities and fixed income areas of UBS in Brazil. As a founding partner of Link, he has been with the firm since its creation in 1998. Prior to the founding of Link, Barros worked in fund management and third party assets at Unibanco.