09:45 AM EDT, 04/09/2024 (MT Newswires) -- Bank of Nova Scotia ( BNS ) intends to underwrite local bonds in Brazil and provide cash-management services as it expands in the Latin American nation, Bloomberg reported Tuesday, citing an interview with Paulo Bernardo, the bank's Brazil chief executive officer.

The Canadian bank plans to enter the market underwriting traditional bonds known as "debentures" in Brazil, the report said.

Bank of Nova Scotia ( BNS ) is recruiting three executives in Brazil -- a senior investment banker, a head for equity sales business, and an equity research analyst, the report added.

(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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