The capital markets business continues to operate in an intricate landscape, stemming from the global pandemic, inflationary pressures, rising interest rates and market volatility.
Scotiabank’s resilience and work over the past year to help Global Banking and Markets (GBM) clients navigate these challenges, while also prioritizing sustainability and rolling out innovative client solutions, has been recognized on an international scale.
The Bank has been named Investment Bank of the Year for the Americas by The Banker, a U.K.-based publication owned by the Financial Times.
“The goal of the Global Banking and Markets (GBM) division of Canada’s Scotiabank is to be seen as the number-one wholesale bank in the Americas — an achievement it has been making progress towards,” The Banker said.
The winners of these prestigious industry awards were announced during The Banker Investment Banking Awards 2022 ceremony at Claridge’s in London, U.K. on Sept. 29.
“In the face of ongoing challenging conditions in capital markets, our Scotiabank GBM team continues to provide our global clients with best-in-class finance and advisory services that leverage the strength of all of Scotiabank and support our vision to be a leading wholesale bank in the Americas,” said Jake Lawrence, CEO and Group Head, Global Banking and Markets.
“This recognition is the culmination of efforts of our first-class GBM team in executing our Global Americas strategy, providing our clients with banking services and access to markets from the top of Canada to the tip of Chile. I am proud to accept the Investment Bank of the Year for the Americas award on behalf of the Scotiabank Global Banking and Markets team.
The goal of the Global Banking and Markets (GBM) division of Canada’s Scotiabank is to be seen as the number-one wholesale bank in the Americas — an achievement it has been making progress towards.
This is the Bank’s latest industry award, after it was named North America’s Best Bank for Sustainable Finance at the 2022 Euromoney Awards for Excellence and was recognized with six wins in the 2022 Global Finance Sustainable Finance Awards earlier this year.
These awards are an external recognition of the Bank’s continued commitment to putting environmental, social and governance considerations at the forefront, benefitting clients and supporting their goals on sustainability as well.
For example, Scotiabank’s Climate Commitments – which include mobilizing $350 billion in capital for climate-related finance by 2030 – form the foundation for the Bank’s enterprise-wide climate strategy. These commitments also outline the way the Bank facilitates finance in support of the transition to a low-carbon economy, ensure robust climate-related governance, manage climate risks, and decarbonize the operation.
“It has integrated sustainability across departments and products to provide innovative sustainable finance solutions for its clients,” The Banker said.
Scotiabank also joined the Net-Zero Banking Alliance (NZBA) in September 2021. The United-Nations-convened global initiative aims to accelerate efforts of the financial sector in addressing climate change, and also commits banks to align lending/investment portfolios with net-zero emissions by 2050, setting interim targets for 2030 or aligned with a 1.5 degrees Celsius warming scenario.
In addition to delivering on the sustainability commitments, Scotiabank GBM launched its capital markets platform in Dublin, which enables the Bank to continue connecting clients across the Americas with services in Europe in a post-Brexit environment. Scotiabank GBM is also enhancing the client experience through the recent rollout of multi-asset electronic-trading capabilities, ScotiaRED, as well as the launch of Janus Public in Canada, a predictive insights platform for cash equities that provides sales and trading teams with actionable customer and market behaviour insights.
