Scotiabank Jamaica formally launched Scotia Private Client Group last week. The unit is dedicated to bring in business from top tier clients, according to local media.

SPCG is an international brand for Scotiabank's private-banking operation, with clients now being able to access products and services through 25 offices in 18 countries globally.

"Depending on what our private clients' needs are, we bring in a trust service through a wealth-structuring session, an offshore investor, discretionary investment management and access to a broader range of investment products through partnering with Scotia Capital," Dan Wright, senior vice-president and head of SPCG, was quoted as saying.

While the number of clients that fall into this group was not disclosed, Mr Wright said that individuals who qualify have more than $250,000 in investable assets with the bank.

"A significant number of our clients throughout the Scotia retail, corporate and commercial network would fall into the private-banking sector," he said.

SPCG also offers these select clients access to specialised and tailored wealth-management solutions.