Scotiabank (BNS) to Acquire MapleMark Bank in Wealth Management Push

Scotiabank (NYSE: BNS) said on Friday, May 29, 2026, it agreed to acquire MapleMark Bank, a Canadian private bank, to strengthen its wealth management business. The deal, subject to regulatory approvals, is expected to close in early 2027. Financial terms were not disclosed. Privately held MapleMark oversees approximately C$5 billion in assets under management, catering to high-net-worth individuals and families. The acquisition aligns with Scotiabank’s strategy to expand fee-based revenue through its global wealth management arm, which reported $1.6 billion in earnings for fiscal 2025. Scotiabank Chief Executive Officer Scott Thomson said the move will accelerate the bank's ability to serve affluent clients across North America.