BOSTON, Oct 28 (Reuters) – Bank of Nova Scotia (Scotiabank) has hired four people for its metals business in New York after losing six traders and salesmen who defected to rival Canadian lender Bank of Montreal (BMO) last month, sources said.
The move signals that Scotia, whose Mocatta metals arm has for years been the worlds biggest lender to the physical precious metals industry, is committed to the business despite a restructuring that has seen staff exit the bank in droves.
Scotia embarked on a plan to halve the size of its metals operation earlier this year after failing to sell it, sources have previously told Reuters.
More than 10 people have left in London and New York since the restructuring began, including the heads of Mocatta…
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