BBAS3 Banco do Brasil SA

   By Joshua Stein 
 

UBS Group AG said Tuesday that UBS BB Investment Bank has sealed a partnership agreement with Banco Patagonia SA to provide Argentina-based clients with access to investment-banking services and international capital markets.

The Argentine commercial bank is forming the partnership with UBS Trading SAU, a subsidiary of UBS BB. Swiss lender UBS set up USB BB last year alongside Banco do Brasil SA and has a majority stake in UBS BB. The partnership will have one of the most extensive coverage footprints in the country, the companies said.

Clients of the banks will also have more access to M&A and advisory services, international debt and equity capital markets, and a broad global network of corporates and investors, they said.

"This relationship is a natural next step for UBS BB, as we look to grow our coverage footprint and increase our competitive advantage in Argentina and the region more broadly," UBS BB Chief Executive Daniel Bassan said.

The companies said the services offered will be in accordance with applicable regulatory requirements. They didn't disclose financial details of the agreement.

Write to Joshua Stein at joshua.stein@wsj.com

(END) Dow Jones Newswires

February 09, 2021 08:36 ET (13:36 GMT)

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