November 7, 2019 / 3:34 PM / 2 months ago

UBS says JV to help offset global pressure on fees

SAO PAULO, Nov 7 (Reuters) - The newly announced joint-venture by UBS Group AG and Banco do Brasil will help the Swiss bank offset global pressure on investment banking fees, UBS` co-head of investment banking Rob Karofsky told journalists on Thursday.

In a press conference, Sylvia Coutinho, country head of UBS Brazil, said the joint venture will seek a leading position in deals in South America "as soon as possible." (Reporting by Carolina Mandl Editing by Chizu Nomiyama)

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