Scotiabank

Toronto-based Scotia Capital and Scotiabank have acquired some assets and employees from UBS Energy. Specific terms of the transaction were not disclosed. The acquisition includes trading and analytical technology and about 60 personnel. It does not include any of UBS Energy’s trading books; the UBS book for its base metals, oil and U.S. natural gas trading was acquired by Barclays Capital in January (see Daily GPI, Jan. 20). “Energy is a strategic focus for Scotia Capital and of increasing importance to our clients,” said Mike Durland, co-CEO of Scotia Capital. “We have longstanding lending relationships in this sector and the acquisition complements our current energy trading and loan capabilities.”