Scotiabank Group announced that it has opened an office for private client services in Miami.
The office, which will provide private banking services to only "non-U.S. residents and non-U.S. citizens," is the banking company's 10th nationally for private banking and wealth management.
Scotiabank said Monday that it plans to use it as a hub for its expanding wealth management services in the Caribbean and Latin America.
Scotiabank said that it is expanding its wealth management services platform to include private banking products and services in the United States for high-net-worth clients.
Scotiabank has Scotia Private Client Group branches in the Bahamas, Barbados, the Cayman Islands, Trinidad and Tobago, the Dominican Republic, Turks and Caicos, Jamaica, El Salvador, Puerto Rico and Peru. It plans to open branches in Chile, Costa Rica, Mexico and Panama.
Scotiabank, which had more than $513 billion in assets as of April 30, serves roughly 12.8 million customers in 50 countries. Its offerings include personal, commercial, corporate and investment banking.
