Canada-based financial services provider Scotiabank has acquired a majority interest in Cayman Islands-based asset management company Five Continents Financial.
 
Dan Wright, SVP of Wealth Management, International Banking of Scotiabank, said: "Scotiabank is always looking for strategic growth opportunities. We see significant opportunity for growth in the Caribbean and Central America and this partnership in the Cayman Islands further demonstrates our commitment to growing and investing across the region."
 
Five Continents Financial (FCFL) was founded in 1993 by its co-managing directors Bill Messer and Scott Elphinstone, who remain minority shareholders. FCFL has assets under management of US$458.3 million. FCFL's discretionary asset management services are focused on managing conservative global investment portfolios for individuals, corporations, insurance companies, pension plans, trusts and third-party investment funds.