UBS has handed one of its top dealmakers in Latin America the reins of its investment banking business in the region, where it made giant strides towards the top 10 advisory rankings in the first quarter.

Aryeh Bourkoff, head of investment banking for the Americas, and Steve Cummings, chairman of Americas investment banking, said in an internal memo that Gerard Cremoux will be moving from New York to Sao Paulo to "spearhead the expansion of our Latin American franchise".