Archive · 14 Aug 2025
Scotiabank Lays Off Investment Bankers in US, Asia Pacific
Scotiabank, a big bank, is cutting jobs in its investment banking divisions in the US and Asia.
This means some people who helped companies with financial matters are losing their jobs.
The bank is also shutting down small offices in Hong Kong and Australia.
Scotiabank says this is part of a plan to better organize its teams and focus on certain areas.
One executive, Mark Mulroney, is leaving the bank to work for a competitor.
Scotiabank is laying off investment bankers in the US and Asia Pacific regions.
The layoffs include multiple managing directors and significant cuts to the US health-care team.
Scotiabank is closing small investment-banking operations in Hong Kong and Australia.
The bank stated the changes are part of ongoing efforts to ensure teams are structured effectively.
Mark Mulroney, former vice chair, left Scotiabank for CIBC.
- Who
- Bank of Nova Scotia (Scotiabank)
- What
- Scotiabank is laying off investment bankers and closing some operations.
- When
- The layoffs happened this month.
- Where
- US, Asia Pacific (Hong Kong, Australia)
- Why
- To ensure teams are structured effectively and align with global strategy.
Scotiabank's Stance
N/A
Rationale for Layoffs
Scotiabank's Stance
Layoffs are part of a strategic alignment and business planning to ensure team effectiveness
N/A
N/A
- Bank
- Bank of Nova Scotia (Scotiabank)
- Layoff Locations
- US, Asia Pacific
- Executive Departure
- Mark Mulroney
- Mulroney's new role
- Global Vice Chair at CIBC
- New hire
- Matt Eilers as global co-head