Global Banking and Markets Financial Performance
Scotiabank to Acquire Jarislowsky, Fraser Limited
Transaction creates the third-largest active asset manager in Canada
•
.
•
Approximately $40 billion in assets under management (AUM), primarily institutional and ultra high net worth clients
(UHNW)
Pro forma $166 billion in AUM related to asset management
Approximately $950 million purchase price at closing, primarily by the issuance of Scotiabank common shares
•
Up to $56 million earn-out in additional Scotiabank common shares on achieving growth targets
•
Accretive to earnings in FY 2020 following share repurchase program over 12-18 months post close
.
Aligns with strategic commitment to diversify global wealth management business to institutional investors
Retail2
89%
$126 BN1
Scotiabank®
Institutional
11%
+
$40 BN
UHNW
23%
O
Institutional
77%
JARISLOWSKY FRASER
GLOBAL INVESTMENT MANAGEMENT
1 Excludes $29 billion of Scotia Wealth Management and Tangerine AUM as of Q4/17
2 Retail includes mutual funds and pools distributed through affiliated bank, brokerage and counsel channels, as well as wholesaled through third-party advisors
Retail²
69%
$166 BN
Scotiabank®+
Institutional and UHNW
31%
JARISLOWSKY FRASER
GLOBAL INVESTMENT MANAGEMENT
Scotiabank®
5View entire presentation