09:58 AM EDT, 08/15/2024 (MT Newswires) -- Bank of Nova Scotia ( BNS ) has recruited a team of seven from JPMorgan Chase & Co. ( JPM ) in Texas to launch a new mortgage capital markets business in Houston, according to a Bloomberg News report.

The group, which includes three current managing directors from JPMorgan ( JPM ), will start in the fall, according to an internal Scotiabank memo Thursday reviewed by Bloomberg News.

It noted the Toronto-based lender began boosting its U.S. structured finance business more than a year ago, hiring a collateralized loan obligation executive from Morgan Stanley and four CLO veterans from the French bank Nataxis.

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

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