09:13:39 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,214,877,959
Close 2014-04-08 C$ 64.89
Market Cap C$ 78,833,430,760
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Globe says Scotiabank CEO reveals his playbook

2014-04-09 08:33 ET - In the News

The Globe and Mail reports in its Wednesday edition nearly six months into his new role, Bank of Nova Scotia chief executive officer Brian Porter laid out a strategy that emphasizes expanding in Latin America and focusing on developing internal talent. The Globe's Tim Kiladze writes Mr. Porter is not looking to make any radical changes, he told shareholders in Kelowna, B.C., but there is room for improvement. The comments marked the first time Mr. Porter spoke publicly about where he would like to take the bank. At the moment, Scotiabank's international operations are divided among Latin America, the Caribbean and Central America, and Asia. For now, the "primary emphasis is on Latin America," Mr. Porter said -- particularly Peru, Colombia, Mexico and Chile, whose relatively young and well-educated populations need bank services. Over the past few years, Scotiabank looked at ways to expand in Asia, and there were questions about how important that region would be to the bank's global growth. Investors have also been wary of the bank's international footprint, as emerging markets took a beating early in 2014. Domestically, Scotiabank will continue to focus on wealth management, and to expand in credit cards.

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