LONDON — Bank of Nova Scotia told staff on Tuesday it would close its metals business, drawing the curtain on one of the most venerable names in precious metals trading, two sources familiar with the matter told Reuters.
Once a global player with more than 100 staff in offices from New York and London to India and Hong Kong, the bank sharply downsized the business in 2018 after a strategic review and an unsuccessful attempt to find a buyer. “Scotia had a global call with all its metals staff and said it was shutting down its metals business,” said one of the sources.A spokeswoman for Scotiabank declined to comment.
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