The Bank of Nova Scotia has expanded its presence in the Caribbean with the acquisition of a majority interest in Five Continents Financial Ltd., a global asset management company in the Cayman Islands, the bank said Friday.
“Scotiabank is always looking for strategic growth opportunities,” said Dan Wright, senior vice-president of wealth management in the bank's international banking division. “We see significant opportunity for growth in the Caribbean and Central America and this partnership in the Cayman Islands further demonstrates our commitment to growing and investing across the region.”
Terms of the transaction were not disclosed.