UBS has built Latin America’s most comprehensive investment brain for private clients, with a chief investment office (CIO) franchise that blends global research firepower with local insight and delivery. For high- and ultra-high-net-worth (U/HNW) investors navigating volatile politics, shifting rates and currency swings, that combination has become a core reason to bank with UBS.
Across the region, UBS’s CIO platform underpins a sizeable and growing asset base. Total assets under management (AUM) in Latin America rose steadily over the review period, with both HNW and UHNW segments expanding, while net new money remained comfortably positive through 2024 and into 2025. Revenues from the region’s wealth business also increased, reflecting greater penetration of CIO-led advisory and discretionary mandates and a deeper linkage between research views, portfolio construction and product design.
The regional investment engine is fully integrated into UBS’s global CIO, but calibrated for Latin American realities. Strategic and tactical asset allocation frameworks are adapted to local benchmarks and stress-tested against regional macro scenarios, from moderating GDP growth and low unemployment in Brazil, to changing policy paths in Mexico and the Andean economies. The CIO’s Investing in Emerging Markets series and regular macro and scenario reports translate these views into clear guidance on equity, fixed income and FX positioning across markets including Brazil, Mexico, Panama, Chile, Argentina, Peru and Colombia.
Latin America is firmly back on the global investment map, and our role as CIO is to help clients position for that shift with clarity and conviction
Alejo Czerwonko
The Chief Investment Office stands at the forefront of global discourse on Latin America through 300+ research reports annually covering Latin American economies and financial markets, besides 70+ dedicated podcasts and videos in Spanish, Portuguese, and English focused on the region.
Alejo Czerwonko, CIO Emerging Markets Americas at UBS Global Wealth Management says:“Latin America is firmly back on the global investment map, and our role as CIO is to help clients position for that shift with clarity and conviction. By connecting global perspectives with on‑the‑ground insight, we translate macro themes into actionable strategies that support portfolio decisions across market cycles.”
Strategic asset allocation (SAA) performance improved markedly over the course of the period reviewed for the Euromoney awards. After a challenging 2024, CIO-led portfolios in the first half of 2025 delivered strong risk‑adjusted outcomes, SAA recovering to outperform Brazil’s equity index and tactical tilts adding meaningful alpha through timely adjustments in rates, equity exposures and currencies. The CIO’s FX research, including explicit target ranges for pairs such as USD/BRL and USD/MXN, underpinned hedging strategies that helped clients manage currency risk.
Thought leadership is another cornerstone of UBS’s CIO platform in Latin America. The team produced thematic work on topics ranging from digital assets and stablecoins to Brazil’s potential as a rare earths supplier in global clean‑tech supply chains. Additionally, analysis of US tariff policy, World Economic Forum and International Monetary Fund meetings, and reports such as “Why bother investing beyond the US?” were designed to broaden client horizons. These publications fed directly into structured products, discretionary mandates and bespoke solutions designed jointly with global family and institutional wealth teams, ensuring that ideas are not just read, but implemented.
