Bloomberg News

Scotiabank to Acquire a Portion of Daiwa Securities Brokerage

December 01, 2011

Dec. 1 (Bloomberg) -- Bank of Nova Scotia, Canada’s third- largest bank by assets, agreed to buy a portion of the prime brokerage of Japan’s Daiwa Securities Group Inc.

The bank is buying a technology platform and the size of the transaction is “small”, Diane Flanagan, a spokeswoman at the Toronto-based company, said today in an e-mail. The Tokyo Stock Exchange reported the transaction earlier.

--Editor: Dan Reichl.

To contact the reporter on this story: Sean B. Pasternak in Toronto at spasternak@bloomberg.net

To contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net; David Scheer at dscheer@bloomberg.net


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