Canadian private wealth manager Scotiabank has
acquired BNP Paribas’ wealth management business in Panama and the
Cayman Islands.
It is the latest in a series of deals
expanding their global wealth management division. Scotiabank began
its Caribbean expansion in early August with their acquisition of a
small portion of BNP Paribas’ business in the Bahamas.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Last month the Canadian bank merged its wealth
management and insurance lines into a global wealth management
(GWM) group.
Scotiabank’s international wealth management business, excluding
Canada, saw revenues grow over the last three years at a 30%
compound annual growth rate (CAGR).
Assets under management grew by a CAGR of 19% during the same
period.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
