Scotia Bank
Introduction
The Bank of Nova Scotia also known as Scotia Bank is the third largest bank in Canada in terms of deposits and market capitalization. The bank is under the leadership of president and CEO Brain J Poter.
The bank was founded in Halifax, Nova Scotia in 1832, in the year 1900, Scotia Bank then moved its executive offices to Toronto, Ontario.
Scotia bank institution number or bank number is 002, it shares trades in Toronto Stock Exchange and New York Stock Exchange.
It has eighty-nine thousand two hundred and fourteen employees as of 2015. It has branches in 55 different countries of the world and is serving around 23 million customers.
Services offered by the bank is as follows:
• Personal and commercial banking
• Wealth
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The multi-sport complex will be renamed as Scotia Arena on July 1, 2018.
• Scotia bank has been the title sponsor of Calgary’s Scotia bank’s saddle dome from October 8 2010.
• From the year 2008, Scotia bank is the official team sponsor of the Canadian Cricket Team and the title sponsor of national T20 championship in Canada. Corporate and Social responsibility
• The Scotia bank bright future program is the banks global philanthropic vision. The banks multinational reach has provided a unique possibility to help people throughout the world through corporate giving and employee volunteer programmers; it covers education, health, social services and environment arts and culture.
• In the year 2013, Scotia bank contributed $62 million in donations and sponsorship for the community causes around the world.
• Scotia bank employees spent 424,000 hours in 2013 in volunteering and fundraising through formal community programmers.
Membership
BNS is a member of the Canadian Bankers Association (CBA) and is a registered member with the Canada deposit insurance Corporation (CDIC). It is a federal agency insuring deposits at all Canada’s chartered
This bank held government money and controlled the economy by making it easier for local banks to borrow money from it to loan it to manufacturers and factories. As the idea arose the cabinet, Jefferson protested that such a bank was unconstitutional because it favored the north over the south since the bank did not loan money to farmers for land expansions. Being true as it is, the bank drastically boosted our economy and had a great future for our nation. Since it was unconstitutional, a compromise said that the bank would only be funded for 20 years. So as soon as Andrew Jackson was elected, he destroyed the bank. In response to this, our nation suddenly falls into a major depression. No one had jobs and the economy was dying. This showed the brilliance of the national bank and how much it helped our economy. Adding onto this, the bank began the formation of the Federalist and Democratic
The Second Bank of the United States opened in 1816 under the presidency of James Madison and was located in Baltimore, Maryland. The primary idea of the federally operated bank was to maintain
Prior to Fuller’s transfer, management at the Carson’s location was poorly run using the classical approach. While this approach can be successful, management has to find a good middle ground between caring for the company and caring about their employees. A traditional classical approach recognizes that there are five important factors to running a successful business (Miller, 19). According to text, these factors are planning, organizing, command, coordination and control (Miller, 19-20). These factors can be seen when you look at Third Bank as a whole. In the study, the CEO saw the issues in his company and put a plan together to improve. He had meetings with management, like fuller, to organize a solution. He then commanded all locations
Canadian Imperial Bank of Commerce, also known as CIBC, is Canada’s fifth largest bank. Established in 1961, the bank that we know today was formed through the merging of the Canadian Bank of Commerce and the Imperial Bank of Canada. At the time, these two banks were the largest banks in Canada. CIBC’s head office is located at 199 Bay Street, Toronto, Ontario. This international company operates in Canada, Europe, the United States and the Asia Pacific region. CIBC`s vision is To be the leader in client relationships. They value Trust, Teamwork and Accountability. Their corporate objectives include building on their financial strength, unlocking value for reinvestment and to culture focus on client relationships. CIBC currently
...that I should mention and that is that most of these corporations that have partnered with Children’s Miracle have been with them for more at least 10 years. What is most important of all the sponsors is that they share a common vision with Children’s Miracle. There is one thing that left me amazed and that was that most of the sponsors do some other type of fundraising for other organizations and that that like RE/MAX says “the power of many is to make a difference...they have learned that genuine compassion in life directly corresponds to meaningful success in business and that in RE/MAX is called Premier Community Citizenship-performing ordinary acts of extraordinary generosity” (Children’s Miracle). If there has been a problem that might have affected either Children’s Miracle or their sponsors and than that sponsor is no longer part of this tremendous cause.
The BMO Capital is a member of the BMO Financial Group. The trust is a close-ended trust established under the law of the province of Ontario. The company is a subsidiary of Bank of Montreal. The BMO Trust Capital was incorporated in 2000. The company’s headquarters is based in Toronto, ON. The BMO Financial Group is one of the leading financial services provider in Canada. It has total assets worth US$513 billion and above 45,000 employees as of October 31, 2016.
In addition, there is the country’s largest distribution center in Quebec. Halifax imports approximately 25 % of Canadian Tire’s shipment; on the other hand, Vancouver imports rest of them (Ouellette, 2010, p2).
The Bank of America, the second largest bank holding company in the United States by assets after JP Morgan Chase (Forbes, 2013) was originally founded in 1904 as the Bank of Italy. The Bank of America is now a multinational and financial services corporations with its headquarters located in Charlotte, North Carolina. In 1998 North Carolina National Bank started a series of acquisitions of several banks (including the Bank of America in 1998). The newly-merged bank took the name Bank of America and maintained its headquarters in Charlotte, North Carolina (Bank of America: Our Heritage, 2014). In the 2000s. Bank of America continued to expand with the acquisition of FleetBoston (2004), MBNA (2006), investment management company U.S. Trust (2007), mortgage company Countrywide (2008), and Merryl Lynch in 2009 (Gupta & Herman, 2012).
At the time of its collapse, Barings Bank had a reported capital of $615 million. This was in sharp contrast to its trading obligations, thanks to Nicholas Leeson. Nicholas Leeson was responsible for trading in the global financial markets to maximize his employer's bottom-line results. In February 1995, a financial reporter was curious enough about his financial trading activities to question him "about rumors that the Englishman was making huge purchases on the Japanese and Singapore exchanges on behalf of his London-based investment bank. Nicholas Leeson coolly explained that he was 'buying Nikkei futures here and selling them there'” . On February 27, 1995, Barings had outstanding theoretical futures positions of $27 billion on Japanese equities and interest rates, $7 billion of the Nikkei 225 equity contract, and $20 billion on the Japanese Government Bond and Euroyen contracts.
Because of this holistic take on the world, I have always immersed myself in plans that support the aid of both my local community and the international community. As President of the Abbey Park Student Council, I have spearheaded and organized various efforts to fundraise and support various initiatives such as the Canadian Cancer Society and Kicks for Change at a local level, and Doctors Without Borders at an international level, where we raised a total of $50,000
Shaw, S. (2011, September 21). Nova Scotia Seeks World’s Best Clean Technology Start-Ups. Retrieved from Innovacorp: http://www.innovacorp.ca/news/nova-scotia-seeks-worlds-best-clean-technology-start-ups
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In this case study it was stated that there were a problem happen in the outsourcing for the Royal Bank of Scotland. What happen was there were an error that happen during the routine software upgrade that cause million of that bank customer cant access to their account. The error happen when one junior technician in India was accidently wiped all the information during the routine software upgrade. The member of staff that was working under the program for the Royal Bank of Scotland, NatWest and Ulster Bank and it was based in Hyderabad, India.
They say “Our deep roots in local cultures and markets around the world give us our strong relationship with consumers and are the foundation for our future growth. We will bring our wealth of knowledge and international expertise to the service of local consumers - a truly multi-local multinational.
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