Brian Porter News
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Canadian Finance Minister Jim Flaherty shouldn’t interfere with mortgage pricing set by the country’s lenders, Bank of Nova Scotia Chief Executive Officer Richard Waugh said.
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Bank of Nova Scotia, which made more than 20 foreign acquisitions in the past five years, will now focus on integrating the new businesses, said Dieter Jentsch, group head of international banking.
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Bank of Nova Scotia expects the pace of foreign acquisitions to slow after Canada’s third-largest bank spent more than C$3 billion ($3 billion) in the past five years buying lenders abroad, new president Brian Porter said.
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Bank of Nova Scotia, Canada’s third- biggest lender, awarded Chief Executive Officer Richard Waugh C$11.1 million ($10.8 million) in total compensation last year, a 4.6 percent increase, as the bank posted record profit.
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Bank of Nova Scotia , Canada’s third- largest bank, will consider buying firms to bolster its operations in Latin America and Asia, said Brian Porter , head of international banking.
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Bank of Nova Scotia, which has made investments in more than 20 banks outside its native Canada over the past six years, wants to continue acquiring in Asia and Latin America as other lenders retreat.
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Bank of Nova Scotia named Brian Porter president, potentially paving the way for him to replace Richard Waugh as chief executive officer of Canada’s third- largest bank.
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Bank of Nova Scotia says it can boost small loans in Mexico as much as 20 percent in a push for business in Latin America, where lending margins are double the Canadian average.
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Bank of Nova Scotia, Canada’s third- largest bank, agreed to buy a 51 percent stake in Colombia’s Banco Colpatria Red Multibanca Colpatria SA for about $1 billion in its largest international takeover.
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Bank of Nova Scotia, Canada’s third- largest lender, plans to acquire a stake in closely held Bank of Guangzhou for about C$719 million ($727 million) to add branches and deposits in China.
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