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Bank of Nova Scotia
Symbol BNS
Shares Issued 1,204,829,080
Close 2016-09-09 C$ 69.76
Market Cap C$ 84,048,876,621
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Scotia Capital denies wrongdoing in Bakke firing

2016-09-12 10:19 ET - Street Wire

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by Mike Caswell

Scotia Capital Inc. denies that it did anything wrong when it fired Harold Bakke, a former employee of its South Granville branch who is suing for wrongful dismissal after losing part of his $50-million book of business. The firm says that it offered Mr. Bakke appropriate compensation when it dismissed him. It also claims that there was nothing wrong with the firm soliciting the clients that he served.

Harold Bakke
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Harold Bakke

Scotia Capital is responding to a lawsuit that Mr. Bakke, 59, filed in the Supreme Court of British Columbia on July 8, 2016. He complained that the firm fired him from his job of 14 years for no reason on April 26, 2016. It did so in a manner that allowed it to solicit his significant client base, he said. The firm fired him just before he went on a three-week family vacation to Italy and then aggressively pursued his clients while he was away, he complained.

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