UBS this week took the lead role on the largest global initial public offering since the giant Facebook float in May – the spin-off of Santander's Mexican business – with star banker Andrea Orcel spearheading the deal.

Grupo Financiero Santander Mexico said in its prospectus on Tuesday that it was looking to raise around $4bn in Mexico and on the New York Stock Exchange. The bank expects to list the unit by the end of September.