Operating Units
Scotiabank has four divisions:
- Canadian Banking is the commercial banking division, offering savings and loan services. It includes 1009 branches, 2,750 ABMs, and four call centres in Calgary, Toronto, Cornwall, and Halifax. It offers telephone, wireless and Internet banking. Their brokerage unit is called the Wealth Management Group.
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- ScotiaMcLeod is the full-service Canadian investment dealer and was formerly known as McLeod Young Weir Co. & Ltd., a company started by four young entrepreneurs: Donald Ivan McLeod, William Ewart Young, James Gordon Weir, and John Henry Ratcliffe.
- Global Banking and Markets (GBM) is the investment banking division, which helps large corporations, institutions, and governments obtain capital and credit.
- International Banking is the merchant banking division, assisting its customers with international trade. Scotiabank's marketing material claims it is the leading provider of financial services in the Caribbean, and that it has the broadest Asian network of any Canadian bank.
- e-Commerce/e-Banking at Scotiabank manages wire transfers and payments.
Scotiabank sells insurance products via its brand subsidiary – ScotiaLife Financial. Most of the life insurance policies sold this way are underwritten by Scotia Life Insurance Company.
As of 2009, Scotiabank services over 12.5 million customers and has over $500 billion in assets. The bank employs over 69,000 employees all over the globe including: Europe, Asia, Latin America and the Caribbean. Scotiabank is Canada's most international bank with over 2,000 branches in some 50 countries. As in the past, in 2009 some of the top management at Scotiabank announced a plan that the bank would once again play a part in general infrastructural development in the countries where it operates.
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