UBS Deal to Unseat JPMorgan as Top Latin America Wealth Manager

UBS Group AG will leapfrog JPMorgan Chase & Co. to become Latin America’s biggest wealth manager through its acquisition of Credit Suisse Group AG.

With about $150 billion in wealth under management from clients from the region, UBS will take the top spot after adding Credit Suisse’s $80 billion total, according to people familiar with the matter, who asked not to be identified discussing non-public data. JPMorgan manages about $180 billion. Itau Unibanco Holding SA will keep its No. 3 position, with $140 billion in assets.

Credit Suisse has a larger presence than UBS in Brazil’s local private-banking market, ...