TORONTO, Nov. 1, 2019 /CNW/ - Scotiabank announced
today that it is establishing Global Wealth Management (GWM) as a
distinct business line, given its significant scale, double-digit
asset growth over the last few years, and strong continued
contribution to all-Bank earnings.
"Establishing Global Wealth Management as a distinct business
line is a testament to its success and a reflection of the
important role that the business will play in our growth strategy
for years to come," said Brian
Porter, Scotiabank's President and CEO.
GWM has been focused on building a scalable, client-focused
business model as well as adding strategic acquisitions –
Jarislowsky Fraser Limited and MD Financial Management – that bring
new capabilities in key client segments. GWM expects to represent a
larger portion of all-Bank earnings by leveraging its combined
capabilities and partnerships.
"We have seen tremendous growth throughout our Wealth Management
business. We've made significant investments to add new
capabilities and provide more services for our clients and they, in
turn, have entrusted us with more of their business. We are
building on that momentum to expand and deepen our foundational
businesses, increase our presence in new client segments, and
leverage Scotiabank's footprint to realize opportunities in key
markets outside Canada," said
Glen Gowland, Executive Vice
President, Global Wealth Management.
"I believe we are the best at what we do because of our
passionate commitment to enriching our clients' lives. We are
focused on delivering all of our organization's capabilities for
the benefit of our clients," added Glen.
For more information about Global Wealth Management, visit
globalwealth.scotiabank.com/en/home.
About Scotiabank
Scotiabank is Canada's
international bank and a leading financial services provider in the
Americas. We are dedicated to helping our more than 25 million
customers become better off through a broad range of advice,
products and services, including personal and commercial banking,
wealth management and private banking, corporate and investment
banking, and capital markets. With a team of more than 100,000
employees and assets of over $1
trillion (as at July 31,
2019), Scotiabank trades on the Toronto Stock Exchange (TSX:
BNS) and New York Stock Exchange (NYSE: BNS). For more information,
please visit www.scotiabank.com and follow us on Twitter
@ScotiabankViews.
SOURCE Scotiabank