Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A Canadian Bank Marks Itself as a Buyer Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, August 06, 2008

A Canadian Bank Marks Itself as a Buyer

Reported by Erin Kello

There is a foreign buyer out there in the market for possible U.S. asset management acquisitions. Bloomberg reports that Scotiabank is open to making acquisitions of North American money managers.

Barbara Mason, executive vice president of wealth management at Scotiabank, told told the news service that the Toronto-headquartered bank may look look at the U.S. for expansion possibilities.

Scotiabank has made a priority of increasing its asset management fees. The bank currently has the smallest mutual fund business among the five largest banks in the country.

With the looney at an all-time high against the dollar, Canadian companies have been taking a much closer look at buying into the U.S. fund space. The three biggest insurers in the country already have U.S. mutual fund operations: Manulife has John Hancock, Sunlife has MFS and Great-West has Putnam.

There is no shortage of U.S. fund companies rumored to be for sale that Scotiabank would be interested in. Banks hit hard by the credit crunch such as National City, Fifth Third, Wachovia and Key Corp have all been rumored to be mulling the sale of their asset management units.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use