Scotiabank CEO Says Firm Looking at Acquisitions in U.S. Wealth

(Bloomberg) -- Bank of Nova Scotia Chief Executive Officer Brian Porter said the lender is looking at making acquisitions to expand its wealth-management business in the U.S. 

Options including buying teams of advisers or an existing company, and Scotiabank is evaluating both possibilities and discussing them with its board, Porter said Thursday during a conference the bank is hosting. The acquisition is unlikely be “sizable” in terms of its price tag, he said.

U.S. wealth-management capability “is important to us, it's important to our customers and you'll hear more from us,” Porter said in response to questions during the event from Meny Grauman, an analyst at the bank. 

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