Scotiabank Eyes Growth in Mexico, Canada in CEO Thomson’s Strategy Revamp
- Executives expected to talk Mexico, domestic banking at event
- Thomson, an outsider, was tapped last year to lead the lender
Scotiabank’s headquarters in Toronto
Photographer: Della Rollins/BloombergThis article is for subscribers only.
With Bank of Nova Scotia poised to formally unveil a new strategy, analysts and investors are expecting executives to focus on how to wring more profit out of its businesses in Mexico and Canada.
The Toronto-based bank has lagged behind its rivals in share-price performance for a decade amid disappointing returns in its Latin America operations. Last year it shocked Canada’s financial industry by tapping an outsider — Scott Thomson, a board member and former chief executive officer of industrial equipment firm Finning International Inc. — to lead the company.