Tracking the Activities of Global Asset Managers in Latin America
Scotia is on the few multinational firms to have made significant investments in the Latin American pension and asset-management space in recent years. It is now well positioned in the Mexican, Colombian and Peruvian pension fund markets, and has a significant banking presence in Chile and Mexico.
The bank is selling for USD516 million its pension unit in Peru to two separate pension firms, one controlled by Colombian financial conglomerate Grupo Sura and the other by Canada's Bank of Nova Scotia.
Scotiabank says it has reached an agreement to buy a 51% stake in Colombia's fourth-largest pension fund company.
