UBS names Sylvia Coutinho as head of Brazilian unit

Mon May 20, 2013 9:36am EDT

* UBS stepping up brokerage and advisory efforts

* Coutinho held key Latam leadership posts at HSBC

* Outgoing UBS Brazil chief Salles to retire

SAO PAULO, May 20 (Reuters) - UBS AG on Monday appointed Sylvia Coutinho as chief executive officer for its unit in Brazil, where the bank is stepping up its focus on brokerage and advisory work.

Coutinho, who most recently worked as the head of retail banking and wealth management for Latin America and asset management for the Americas at HSBC Holdings PLC, will start on June 24 and replace outgoing CEO Lywal Salles, who is retiring, UBS said in a written statement.

Earlier this year, UBS completed its takeover of Link Investimentos, marking the start of full-fledged investment-banking, brokerage and wealth management operations in Latin America's largest economy.

Coutinho will be responsible for "further strengthening the firm's presence in Brazil and overseeing the firm's strategy to deliver its integrated resources ... to its private, corporate and institutional clients in the country," the statement added.

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