Through the addition of agent lending
Scotia Capital, the wholesale banking arm of Canada-based Scotiabank group, has expanded its global equity finance group’s US stock lending business through the addition of agent lending. It has said that the expansion complements Scotia Capital’s recent launch of principal lending platforms in the UK and Asia.
Reportedly, the new members of the global equity finance group include: Gary Rupert, managing director, a registered general principal with the National Association of Securities Dealers (NASD), will lead the team in the US; Daniel Murphy, managing director, brings over 25 years of investment industry experience; Armeet Sandhu, managing director, with over 15 years financial services industry experience; Keith Peckholdt, director, a registered general principal with NASD having over 25 years of experience in the capital markets; and Eugene Picone, director, with over 25 years securities lending experience both in the US and internationally.
Patrick Burke, managing director and head of institutional equities, Scotia Capital, said: “The global equity finance group continues to explore opportunities to broaden our stock lending mandate and remain competitive in key geographies.”
“The addition of agency services as part of our prime brokerage offering secures a strong foothold for Scotia Capital and our equities business. We are confident these individuals will make a positive contribution to our team,” he added.