(November 1 – 13:30 ET) –
Scotia Capital Markets today
unveiled its new corporate
structure on the institutional and
corporate banking side.
While most of the bank-owned
dealers have cautiously spent the
past few years fracturing the
retail and institutional sides
of their investment dealers most
of their attention has been
directed at rolling together the
various components of their
retail wealth management
capabilities. Today’s
reorganization marks one of the
first efforts directed at the
corporate side. The ScotiaMcLeod
name will linger only on the
retail side, while Scotia Capital
will cover the business side of
things exclusively.
Effective today, Barry Luter
and David Wilson become co-chairmen
and co-chief executives of Scotia
Capital, which rolls together all
the bank’s corporate services,
whether they have historically
resided on the bank side or the
brokerage side. The idea is to
seamlessly deliver all of the
bank’s corporate services from
one platform on a product-neutral
basis.
To handle clients, the bank has
come up with a “relationship
management team” that divides
duties into teams that deal with
client coverage, industry and
deals. The client coverage teams
focus on constant relationship
building. The industry teams
handle strategy for communications
and technology; consumer products,
financial services, forest
products, industrial products,
mining, oil and gas, pipelines,
privatization, infrastructure,
power and real estate. The deal
teams are dusted off to actually
execute corporate finance deals.
Outside of Canada, Scotia will
focus its services through units
targeted at Europe and the eastern
and western areas of the U.S.
The firm has also redesigned its
Web site at
www.scotiacapital.com.
IE Staff
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