03:05 PM EDT, 08/14/2025 (MT Newswires) -- Bank of Nova Scotia ( BNS ) downsized its workforce at its US and Asia Pacific investment banking divisions, Bloomberg reported late Wednesday, citing people familiar with the matter.

The layoffs included cuts to the US health care team, including several managing directors, according to the report.

Bank of Nova Scotia ( BNS ) is also closing investment banking operations in Hong Kong and Australia, one of the sources said.

"We continue to remain focused on growing in the US. As part of our regular business planning process, we have made a limited number of personnel changes affecting a small group of employees," a company spokesperson told the media outlet.

Bank of Nova Scotia ( BNS ) didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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