Last year Scotia acquired BNP Paribas’ wealth management business in Panama and the Cayman Islands and a part of BNP’s wealth management operation in the Bahamas. This acquisition brought with it a wealth of quality staff.

Hoping to outperform next year’s forecasts for the macro-economy, Kevin Teslyk, Scotiabank new managing director, said that the bank was looking to build upon its strong trust legacy and leverage products/services provided by its parent group.

The bank will be targeting both Bahamas-based and international high net worth clients said Teslyk.

"The private banking [arm], what we call Scotia Private Client Group – we see a lots of opportunity in that business segment," Teslyk said