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Our History

Our history dates back to 1832 - the year when The Bank of Nova Scotia was founded. For the duration of the 19th century, and throughout the next, bank branches expanded across Canada, into the U.S. and overseas. In addition to its growing retail services, The Bank of Nova Scotia began providing corporate banking services from its New York offices in the early 80's. By 1983, in response to increasing client demand, corporate banking services were offered in other U.S. cities and Canada.

In 1988, The Bank of Nova Scotia acquired McLeod Young Weir (later renamed ScotiaMcLeod Inc.) - a leading Toronto brokerage firm, founded in 1921. In November 1995, the wholesale arm of ScotiaMcLeod was formally integrated with the capital markets businesses of The Bank of Nova Scotia under the marketing banner Scotia Capital Markets. Complementing its combined capabilities, The Bank of Nova Scotia successfully acquired the long-standing leading dealer in bullion, The Mocatta Group, and formed what is now known as ScotiaMocatta - the precious and base metals businesses of The Bank of Nova Scotia.

On November 1st, 1999, The Bank of Nova Scotia's Corporate Banking business and Scotia Capital Markets were integrated to form Scotia Capital - a marketing banner for the wholesale division of the bank and some of its subsidiaries.

In 2000, The Bank of Nova Scotia completed its acquisition of Grupo Financiero Inverlat S.A., a well-known financial group with over 60 years of experience in the Mexican market. In 2005, an integrated NAFTA Wholesale Banking platform was created under the Scotia Capital marketing banner to optimize the delivery of our capabilities to clients across the region.

In June, 2005, The Bank of Nova Scotia acquired Waterous & Co., and integrated it with the oil and gas M&A operations of Scotia Capital to form Scotia Waterous - the oil and gas M&A business of The Bank of Nova Scotia.

In January 2012, to better reflect the growing international reach of the Corporate and Investment Banking and Capital Markets businesses, and to better align with the Bank’s other business lines, the Scotia Capital brand name was discontinued, and the wholesale businesses are now branded as the Global Banking and Markets division of Scotiabank.

In April 2012, Scotiabank acquired Howard Weil Incorporated, a premier U.S.-based energy investment boutique. Howard Weil is recognized as one of the top regional firms in the energy industry in the U.S., providing equity research, institutional sales and trading, as well as investment banking services. Together with Howard Weil, we now provide research coverage on over 220 energy companies.

 

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