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To Be or Not to Be: What’s Up at Scotiabank?

Well-placed sources suggest that Scotiabank has closed its
FX sales and trading desks in London.

A call to the bank in London last week elicited the strange
response that it was still providing an FX service, but that HR could probably
provide a statement.

So far, requests for information from Scotiabank Global
Banking and Markets’ press office in Toronto have not been met with any
response – other than the standard “we’ll get back to you”.

Profit & Loss understands that several members of staff,
some with very long periods of service, have been let go in London.


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