Luis Nassif relates in Dinheiro Vivo that UBS will dissolve its partnership with Banco Pactual. UBS said it refused to comment on “market rumors.”
Note for future reference: Did Mr. Nassif call the shot successfully?
I note it mainly because I am trying to patiently and systematically compile information on debt and equity issuers here. Boring, but someone has to do it.
I have not looked at the issuance and underwriting league tables yet, but just from scanning the news, I would guess that UBS Pactual is the New York Yankees of that league.
But I note also in passing that Pactual has been involved in some business disputes of the gran guignol variety over the last decade.
As has UBS, apparently. A Swiss banker working here got some rough treatment, he says, from Brazilian federal police and the Brazilian press recently. See
Dentro em breve o UBS (União de Bancos Suiços) entrará com medida judicial visando dissolver a associação que montou com o Banco Pactual no Brasil.
UBS will soon file suit to dissolve its partnership with Banco Pactual in Brazil.
Os jornais e revistas brasileiros, que se cansaram de louvar a “promoção” de André Esteves a um “alto cargo” no UBS suíço, agora se calam. Ele está de volta ao Brasil, três meses depois de ter “assumido” funções no exterior.
Brazilian newspapers and magazines, who have worn themselves out praising André Esteves’ “promotion” to a “senior position” at UBS in Switzerland have now fallen silent. He is back in Brazil, three months after having “taken on new responsibilities” abroad.
Por aqui, o UBS se desmancha. Nove funcionários de carreira do UBS brasileiro pularam fora, depois da associação com o Pactual. Não suportaram o modo de operação dos ex-Pactual.
Here in Brazil, UBS is unraveling. Nine career Brazilian employees jumped ship after the partnership with Pactual was signed. They could not stand the way the former Pactual bankers did business.
I have to start keeping track of these comings and goings more carefully and routinely.
Ainda está por ser contada a história de Esteves com alguns grandes órgãos da imprensa brasileira.
The story of Esteves’ relationship with certain organs of the news media in Brazil remains to be told.
Then tell it, Luis “Good Grief!” Nassif. You have my attention.
Procurada pelo Guia Financeiro, a assessoria do UBS disse que se trata de rumores de mercado e que não se pronunciará oficialmente sobre o assunto.
Sought for comment by GF, UBS press representatives said these were merely market rumors and would not comment officially on the matter .