Bankers race to gain foothold in Brazil’s financial services gold rush

The world’s 10th largest economy is a magnet for firms eager to share in its growth

The Brazilian financial services industry has been driven by explosive economic growth, the expansion of the middle class and a rising demand for financial products from individuals and corporates.

Three US firms bid for local corporate and financial services operations last month and the scramble for opportunities has pitched ex-UBS chief Huw Jenkins against his former bank.

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