Mr. Joe Konecny reports

SCOTIABANK LAUNCHES EQUITY SALES AND TRADING BROKERAGE IN COLOMBIA

Bank of Nova Scotia has expanded its global equity business, reinforcing Latin America as a priority growth area, with the launch of an equities brokerage operation, Scotia Securities (Colombia) SA.

"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 gross domestic product 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. This is very much a partnership between Scotiabank and Banco Colpatria, bringing together our global and their local expertise to serve customers."