SOURCE: Scotiabank

Scotiabank

October 28, 2015 16:25 ET

Scotiabank to Build Presence of Its Commercial Banking Business in Western Canada With Investment in Roynat Capital

Roynat Capital Executive Office Will Be Relocated to Calgary, Alberta

TORONTO, ON--(Marketwired - October 28, 2015) - Scotiabank today announced that it will strengthen its investment in Roynat Capital and re-establish the Roynat Capital Executive Office in Calgary, Alberta. This move is intended to build the Bank's Commercial business in Western Canada. In addition, Scotiabank will increase its marketing budget to build the Roynat brand and will significantly expand the Roynat Capital sales force across Canada.

Members of the Roynat Capital Executive Leadership Team will relocate to Calgary as of January 1, 2016. Phil Armstrong, President and Head of Roynat Capital, and Jeff Chernin, Senior Vice President of Risk Management at Roynat Capital, will join the existing senior team and sales force already in place in Calgary, Alberta. A small number of roles that are currently part of Roynat Capital in Toronto will also move to the Calgary office in the coming months.

Scotiabank has committed that the Alberta-based Roynat Capital team will increase by more than 40% in 2016. This includes a 20% increase in the Roynat Capital sales force across the country in the same year.

"For more than 50 years, Roynat Capital has differentiated itself by providing clients with creative financing solutions that meet their unique needs," said Phil Armstrong, President and Head of Roynat Capital. "Scotiabank's commitment to invest in the future of our business and grow the Roynat brand throughout Canada is an exciting opportunity to strengthen our footprint, deepen our client support and further contribute to the success of the Commercial Banking business."

About Scotiabank
Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. We are dedicated to helping our 21 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 87,000 employees and assets of $863 billion (as at July 31, 2015), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using Marketwired. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankNews.

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