UBS says JV to help offset global pressure on fees
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SAO PAULO (Reuters) - The newly announced joint-venture by UBS Group AG and Banco do Brasil will help the Swiss bank offset global pressure on investment banking fees, UBS's co-head of investment banking Rob Karofsky told journalists on Thursday.In a press conference, Sylvia Coutinho, country head of UBS Brazil, said the joint venture will seek a leading position in deals in South America "as soon as possible."