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RIO DE JANEIRO, BRAZIL - In its latest exclusive report Reuters says that Brazilian state-controlled lender Banco do Brasil SA and the world largest manager of private wealth, Zurich based UBS Group, are in advanced talks about an investment banking joint venture that could be signed as soon as next month.

The Swiss bank aims to take a controlling stake in the investment banking business of the state-owned bank, the report said. Both banks will, however, retain an equal say in the ensuing joint venture.

UBS is very successful in the management of private wealth, counting approximately half of . . .

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