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Scotiabank Exclusive: New Restructuring Plan Uncovered

Scotiabank has announced plans to increase its team of financial advisers as part of a wider restructuring effort.

Scotiabank Ottowa Office. The bank is undergoing a restructuring to drive wealth management growth and customer sales. PHOTO: Chris Wattie/Reuters
Scotiabank Ottowa Office. The bank is undergoing a restructuring to drive wealth management growth and customer sales. PHOTO: Chris Wattie/Reuters

The goal is to boost sales of mutual funds and investment products and ultimately improve shareholder returns. According to Jacqui Allard, head of wealth management at Scotiabank, approximately 10% of the bank’s retail clients in Canada currently invest in mutual funds through the bank.

However, for clients of Tangerine, the bank’s digital-banking division, that figure drops to

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