The expansion further strengthens Scotiabank’s presence in the region. It has already launched Scotia Private Client Group offices in The Bahamas, Barbados, the Cayman Islands, the Dominican Republic, El Salvador, and Peru; the Bank also has plans to introduce its Scotia Private Client Group brand in Turks and Caicos, Chile, Costa Rica, Panama, Jamaica and Miami.

The business model for Central and Latin America and the Caribbean is similar to the one used in Canada, the bank said in a statement, where integrated services are offered through teams of specialists in offices outside the bank’s branch network.

Scotia Private Client Group offers local private banking services to high net worth local and international clients, and international investment services to offshore clients. The availability of services depends on local regulatory conditions.

Conditions permitting, Scotia Private Client Group will also provide international private banking and local investment, as well as wealth structuring services.

Scotiabank has been present in the Caribbean and Central America since 1889. It is now the leading bank and has operations in 27 countries in both regions, including affiliates.

Scotiabank offers a range of products and services including personal, commercial, corporate and investment banking. The bank has $462 billion in assets as at July 2008 and trades on the Toronto and New York Exchanges.