Scotiabank Targets Canada’s Affluent South Asians in ICICI Pact

Bank of Nova Scotia wants to tap into the population of affluent Canadians with ties to South Asia through a wealth-management referral partnership with one of India’s largest lenders, ICICI Bank Ltd.

It’s part of a broader push to sell fee-based services like financial planning and specialized advice to “cultural segments” in Canada that haven’t been well-served by the banking sector, according to Jacqui Allard, Scotiabank’s group head of global wealth management.