Scotiabank to Focus on North America in Strategy Makeover (2)

Bank of Nova Scotia plans to go after a larger share of customers’ wallets as it refocuses its business on North America, shifting capital away from operations in Latin America that have delivered poor returns.

Scotiabank has established a new transformation office to deliver on strategic priorities that include better productivity and moving away from a volume-based approach to customer acquisition in favor of one aimed squarely at profit, Chief Executive Officer Scott Thomson said during an investor day Wednesday.

“There are clear realities that have impacted our relative performance,” he told a room of about a hundred investors and ...