Scotiabank Cuts Asia Capital-Markets Jobs in Shift to Americas
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Bank of Nova Scotia’s capital-markets unit is cutting some jobs in Asia and offering other staff members retention and relocation packages as the bank narrows its focus on regions closer to home.
The move is part of the bank’s push to concentrate on North and South America, and its global banking and markets division in the Asia-Pacific region will focus on distributing its Americas products and serving global clients, spokeswoman Heather Armstrong said in an emailed statement. The Toronto-based bank, Canada’s third-largest lender by total assets, declined to say how many workers are affected by the moves.