UBS plans to expand its wealth management business in South America. The Swiss firm announced that it will re-launch its wealth management business in Brazil, to be based in Sao Paulo.

It will be led by Fernanda Pasquarelli, executive director at UBS, who has experience in the area and was responsible for implementing the business in Brazil in 2002. It was subsequently sold in 2009 to BTG Pactual.

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