|By Marketwired .||
|July 16, 2014 07:00 AM EDT||
TORONTO, ON and BOGOTA, COLOMBIA--(Marketwired - July 16, 2014) - Scotiabank today announced an expansion of the Bank's Global Equity business, reinforcing Latin America as a priority growth area with the launch of an equities brokerage operation, Scotia Securities (Colombia) S.A.
"At Scotiabank, our primary focus in Latin America is the four countries that comprise the Pacific Alliance: Peru, Colombia, Mexico and Chile," said Pruyn Haskins, Managing Director and Head, Global Equity, Scotiabank. "Individually, each of these countries has attractive economic fundamentals and growth prospects. Together, these countries have 208 million people and account for almost 40 per cent of GDP in the region, and 50 per cent of trade."
Juan Camargo was named Head of Local Equities and General Manager of the Colombia brokerage. Andrea Gonzalez and Jorge Cruz joined the team as Sales Traders, Institutional, Latin America.
Scotiabank's Global Equity and Advisory team provides sales, trading, structuring and advisory services for the full spectrum of equity products, including cash equities, global prime services, equity research and derivative products.
"Over the last three years, we have established successful brokerages in Mexico, Peru and Chile," said David Sauer, Managing Director, Head of Latin America Equities, Scotiabank. "With the opening of a Scotia Securities office in Bogota, we are now positioned across all countries that are members of the Mercado Integrado Latinoamericano (MILA).
"We have the ability to serve Scotiabank's global customers looking to invest in MILA and also, customers across the Pacific Alliance looking to invest globally," added Mr. Sauer. "This is very much a partnership between Scotiabank and Banco Colpatria, bringing together our global and their local expertise to serve customers."
Scotiabank is a leading financial services provider in over 55 countries and Canada's most international bank. Through our team of more than 86,000 employees, Scotiabank and its affiliates offer a broad range of products and services, including personal and commercial banking, wealth management, corporate and investment banking to over 21 million customers. With assets of $792 billion (as at April 30, 2014), Scotiabank trades on the Toronto (TSX: BNS) and New York (NYSE: BNS) Exchanges. Scotiabank distributes the Bank's media releases using Marketwired. For more information please visit www.scotiabank.com.
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