UBS Completes Acquisition of Link Investimentos in Brazil

  UBS Completes Acquisition of Link Investimentos in Brazil

Leading local financial services firm is foundation for UBS Brasil expansion
as they look to strengthen wealth management and onshore investment banking

Business Wire

NEW YORK & SÃO PAULO -- February 25, 2013

UBS AG, one of the world's largest and best capitalized financial services
firms with a market capitalization ofCHF 54,73 billion and invested assets of
CHF 2.2 trillion^1, announced today that the firmhas completed its agreed
acquisition of Link Investimentos, Brazil's largest independent brokerage

Thetransaction strengthens UBS Brasil, a financial institution based in São
Paulo, and establishes a strong platform for the expansion of UBS in Brazil,
enabling the bank to provide a full range of wealth management and onshore
investment banking services, operating in the equityderivatives,
equities,options, exchange-traded fixed income, currencies and commodities in
the local and international markets. Combining the operations of one of the
largest global financial services firms with the operations of an institution
with a strong local presence, UBS aims to become a leader in wealth management
and investment banking in the Brazilian market, offering clients a full range
of products and services, as well as access to its global capacities and

Link Investimentos has been at the top of the BM&FBovespa ranking of
derivatives transactions for the last 11 years, having traded 217 million
contracts in 2012, representing a 16% market share. Also in 2012, Link
achieved the second positionin the BM&FBovespa ranking of shares
transactions, with a total volume of BRL 316,893 million, representing an 8.9%
market share. UBS Brasil will also incorporate Link's research department,
which has consistently figured in the Central Bank's “Top 5” ranking.

As a reflection of its renewed commitment to Brazil, UBS recently opened a new
office in the heart of São Paulo's financial district, which will become the
new headquarters of UBS Brasil.

Robert McCann, UBS Americas CEO, said: “Expanding in Brazil, one of the
largest and most important emerging markets, is a strategic priority for UBS
and offers excellent growth opportunities for our firm, clients, employees and
shareholders. Bringing UBS and Link Investimentos together further strengthens
our regional presence and adds deeper local knowledge and market expertise."

Lywal Salles, Chairman of UBS Brasil, said: "Link Investimentos has had a
history of success in Brazil and its acquisition strengthens our local
presence. We share with our new partners a common desire to build a first rate
organization, highly regarded, in this market. It has been a pleasure,
personal and professional, to interact with Link’s team."

Daniel Mendonça de Barros, CEO of Link Investimentos, henceforth to be called
UBS Brasil Corretora, added: “We are excited to join UBS and build upon the
success that Link has had in creating a leading financial services
organization in this important and dynamic market. I am quite confident that
our clients will benefit greatly from UBS's global product offering and
client-focused advice and services."

Brazilian clients can learn more about UBS Brasil at

Notes to Editors

About UBS

UBS draws on its 150-year heritage to serve private, institutional and
corporate clients worldwide, as well as retail clients in Switzerland. Its
business strategy is centered on its pre-eminent global wealth management
businesses and its universal bank in Switzerland. Together with a
client-focused Investment Bank and a strong, well-diversified Global Asset
Management business, UBS will expand its premier wealth management franchise
and drive further growth across the Group.

UBS is present in all major financial centers worldwide. It has offices in
more than 50 countries, with about 35% of its employees working in the
Americas, 36% in Switzerland, 17% in the rest of Europe, the Middle East and
Africa and 12% in Asia Pacific. UBS employs about 63,000 people around the
world. Its shares are listed on the SIX Swiss Exchange and the New York Stock
Exchange (NYSE).

About Link Investimentos

With a professional attitude based on transparency, efficiency and
credibility, Link Investimentos was founded in 1998 as an independent
brokerage firm to operate in the Brazilian Futures Exchange and Commodities
(BM&F), with offices in São Paulo and Curitiba. Since 2002, Link has been the
number one in the BM&FBovespa ranking of derivatives transactions. In 2004, it
started operating also in the shares and options markets in the São Paulo
Stock Exchange (then, Bovespa) and Government Bonds. In that same year, Link
concluded an agreement with the clearing house Man Financial, signed an
agreement to be an Introducer Broker and registered at the National Futures
Association, becoming one the leadingBrazilian commodities dealers in New
York, Chicago, London and Asia. In 2012, Link reached the second position in
the BM&FBovespa ranking of shares transactions. In the foreign commodities
exchanges, Link operates in the name of its clients in soya, corn, coffee,
wheat,oil, metals and sugar. Link is currently the largest Brazilian
independent brokerage firm. It serves an institutionalclient base in the
futures,, options, over-the-counter, variable income, private and government
bonds, local and international commodity markets.. It is a private partnership
with 72 partners and approximately 170 employees.

^1 Market Capitalization and total assets under management as of the 31
December 2012.


Media Inquiries
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Karina Byrne, 212-882-5692
Megan Stinson, 212-713-1302
São Paulo:
São Paulo: Antonio Seidl, +55-11-987553144
Yves Kaufmann, +41 44 234 4655
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