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Scotiabank to buy New Orleans investment boutique

Scotiabank to buy New Orleans investment boutique

Share this article and your comments with peers on social media Desjardins buys Montreal boutique firm Hexavest “The acquisition of Howard Weil is strategically important for Scotiabank, providing not only an expansion of our product footprint in the energy sector, but also dedicated equity sales, trading and research capabilities in the U.S.,” said Mike Durland, head of Scotiabank’s Global Capital Markets group. Details of the proposed deal were not material to Scotiabank’s earnings, the bank said in a statement. The addition of Howard Weil to its assets gives the bank a stronger position in energy investment banking where is already operates the Scotia Waterous division, with offices located in Houston, Hong Kong, London and Singapore. Scotiabank is Canada’s most international bank with operations across Latin America and the Caribbean and more than 75,000 employees in 55 countries. Shares of Scotiabank were down 30 cents to $52.64 on the Toronto Stock Exchange. Facebook LinkedIn Twitter Bank of Nova Scotia (TSX:BNS) said Wednesday it has agreed to buy New Orleans-based boutique energy investment firm Howard Weil Inc. for an undisclosed amount. Howard Weil, which also operates out of Houston, Texas, specializes in providing equity research, institutional sales and trading, and investment banking services for the oil and gas industry. Related news CI acquires US$5.1B San Diego-based RIA Canadian Press Keywords Mergers and acquisitionsCompanies Bank of Nova Scotia Cidel Asset Management to acquire fixed income manager read more