Bank Nova Scotia - BNS STOCK NEWS

Scotiabank has appointed Francisco Aristeguieta as Group Head of International Banking, effective May 1, 2023. With over 30 years of experience in international banking across Latin America, North America, Asia, Europe, and the Middle East, Aristeguieta is set to enhance the bank's international strategy. He previously led the Asset Servicing business globally at a major financial institution. This leadership change comes as Ignacio Deschamps plans to retire, after contributing significantly to Scotiabank's international banking and digital transformation efforts since 2016. Scott Thomson, Scotiabank's CEO, emphasized that Aristeguieta's leadership will help drive engagement and sustainable growth for shareholders.

Scotiabank has committed $1.4 million to support the Campaign for Concordia: Next-Gen Now, aimed at enhancing opportunities for Indigenous and international students at Concordia University. This investment will fund two key programs: the Kaié:ri Nikawerà:ke Indigenous Bridging Program and the Career Roadmap for International Student Excellence (C-RISE). These initiatives aim to remove barriers and provide essential support for students, promoting diversity and inclusion at the university.

NEO Exchange announces the launch of the Scotia Emerging Markets Equity Index Tracker ETF, now trading under the symbol SITE. This ETF aims to replicate the performance of the Solactive GBS Emerging Markets Large & Mid Cap Index and is sub-advised by State Street Global Advisors. Scotia Global Asset Management has successfully listed five ETFs this year on NEO, reflecting their commitment to providing investment options in emerging markets. The NEO Exchange hosts over 250 listings and plays a significant role in Canadian ETF trading, handling approximately 20% of the market.

Scotiabank has announced the retirement of Brian Porter as President and CEO, effective January 31, 2023. Scott Thomson, currently CEO of Finning International Inc., will take over on February 1, 2023, after initially serving as President from December 1, 2022. Porter's tenure saw asset growth from $744 billion to $1.3 trillion and a repositioning towards higher growth markets. The transition aims to maintain the bank's strong performance and emphasis on digital transformation and customer service.

Scotiabank has launched Quanto MXN-denominated structured notes linked to MSCI Food Revolution and Ageing Society Indexes, marking the first such offering in Latin America. These notes are designed to identify long-term trends shaping market performance, focusing on companies catering to senior populations and sustainable food production. Issued for 3 years, these structured notes offer leveraged exposure to key US companies, aligning with growing client demands for innovative investment strategies. This initiative strengthens Scotiabank’s position in providing thematic investment solutions.

Scotiabank has announced a three-year partnership with the National Theatre School of Canada (NTS), committing $450,000 to enhance the DramaFest program. This initiative aims to expand theatre education in high schools across Canada, engaging 300 schools and providing nearly 400 productions with 100 unique performances. Since 1946, DramaFest has supported youth engagement in the arts, promoting teamwork and self-expression. The upcoming season marks a return to live performances since the pandemic.

PureFacts Financial Solutions has closed a $37 million strategic financing round with investment from Canadian Business Growth Fund, The Bank of Nova Scotia (NYSE:BNS), and Round13 Capital. The funding will accelerate product development and facilitate strategic acquisitions as PureFacts aims to enhance its position in the WealthTech sector. The company, serving over 100 clients and managing assets exceeding $1 trillion, focuses on providing innovative solutions for wealth and asset management.

Scotiabank has partnered with BestEx Research Group to develop a next-generation algorithmic trading platform tailored for Canadian equities. This exclusive collaboration will enable Scotiabank to offer advanced execution algorithms via its ScotiaRED suite, enhancing electronic trading performance for clients. The platform, set to launch in Q2 2022, promises to utilize a cloud-based Algo Management System for real-time order transparency and control. This initiative builds on Scotiabank's commitment to innovation in trading solutions, addressing specific market needs with state-of-the-art technology.