CEO Scott Thomson has identified commercial lending and wealthy clientele as areas where the bank is lagging in the LATAM region From m_zadikian
Leading up to this appointment, he sat on the board of directors.
Thomson identified commercial lending and wealthy clientele as areas where the bank is lagging in the region. Should the company opt to exit certain countries, Rizvanovic estimates it could have a roughly four-per-cent drag on earnings in the near term but improve the lender's risk/reward profile over time.Lorne Steinberg, president of Lorne Steinberg Wealth Management and whose firm owns Scotia, doesn't think a sale is on the table at this point, mainly because the assets are struggling and the bank wouldn't "want to sell this in a fire sale.
"They need to leverage their management knowledge and expertise, but really narrow down their focus on where they want to spend each additional dollar."
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