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Bank of Nova Scotia
Symbol BNS
Shares Issued 1,222,528,089
Close 2019-05-08 C$ 72.44
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Globe says Scotiabank ex Bai sets up at Aviso Wealth

2019-05-09 08:23 ET - In the News

The Globe and Mail reports in its Thursday edition that independent wealth manager Aviso Wealth has hired former Scotia Wealth Management executive John Bai as its chief investment officer with an eye to boosting its socially responsible investment arm, NEI Investments. The Globe's Clare O'Hara writes that Mr. Bai was appointed executive vice-president and CIO of both Aviso Wealth and NEI Investments. In his role, which began May 6, Mr. Bai is responsible for the strategic direction of the firm's investment approach and philosophy, including its asset allocation process and subadviser research. He replaces Daniel Solomon. Aviso Wealth recently celebrated its first anniversary after Credential Financial, Qtrade Canada and NEI Investments combined to launch an independent wealth management firm in 2017. The combined entity positions the credit union industry (which includes more than 300 of the member-owned co-operatives in Canada) to compete more aggressively with Canada's Big Five banks. Aviso, the Portuguese and Spanish term for "advice," is owned equally by Desjardins Group and a limited partnership composed of five provincial credit union centrals and CUMIS Group Ltd. NEI manages $8-billion in assets.

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