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UBS Buys Latin American Private Bank From Dresdner

UBS has bought the private wealth management operations of Dresdner Bank Latin America (DBLA). The giant Swiss bank did not disclose the price, but analysts reckon it must have paid Euros 100 million. UBS is taking on 137 employees of

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UBS has bought the private wealth management operations of Dresdner Bank Latin America (DBLA). The giant Swiss bank did not disclose the price, but analysts reckon it must have paid Euros 100 million.

UBS is taking on 137 employees of DBLA, which manages assets worth Euros 4.8 billion. In recent months, UBS has bought the US private client business of Swiss rival Julius Baer, which had $4 billion in assets under management, and Sauerborn Trust in Germany, which had Euros 6 billion under management.

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