The marquis outside of Scotia Plaza in Toronto shows the closing numbers of the TSX at + 252.19 on Tuesday, July 3, 2012.Matthew Sherwood/The Globe and Mail
The new year will bring a new head for Bank of Nova Scotia's full-service retail brokerage network.
Hamish Angus, who has been running ScotiaMcLeod since 2004, has spent the past 27 years with the firm. He joined in 1986 when the firm was an independent known as McLeod Young Weir, beginning as a broker in Vancouver. He became Vancouver branch manager, and then western regional manager.
Alex Besharat, who is replacing Mr. Angus, has had a similar career path, working as a broker in Vancouver, overseeing a branch and having run the western Canadian division of ScotiaMcLeod. He's also been an active member of the Vancouver arts community, serving as chairman of the Vancouver Opera.
Wealth management has been a busy industry in Canada in recent years, with broker networks changing hands reasonably often (notably Monday's sale by Macquarie Group of its Canadian wealth management operations.) Bank of Nova Scotia has been busy, purchasing DundeeWealth Inc. But on the full-service side, ScotiaMcLeod has generally flown below the radar.
ScotiaMcLeod lists about 750 advisers across Canada, a number that has not changed much since Mr. Angus took over.
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(Boyd Erman is a Globe and Mail Capital Markets Reporter & Streetwise Columnist.)
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