UBS Buys Remaining 40% Stake in Brazilian Family Office Consenso

UBS Group AG, which bought a 60% stake in multi-family office Consenso Investimentos four years ago, has acquired the remaining 40% and plans to double the number of advisers.

“We are ready to grow aggressively,” said Bruno Barino, co-chief executive officer at UBS Consenso, which caters to Brazilian clients with more than 50 million reais ($8.7 million).

The Sao Paulo-based firm plans to hire 25 advisers by mid-2022, said Barino, who is also UBS’s Brazil global wealth-management co-head.

Bruno Barino, co-chief executive officer at UBS Consenso

Source: UBS Consenso

Private banking is booming in Brazil even as the nation is suffering from the Covid-19 pandemic and the botched government ...