Canada's Bank of Nova Scotia is set to grow its presence in U.S. mortgage warehouse lending, as it brings on a veteran
Thanh Roettele, who first joined
The addition of Roettele is one of the latest moves from Scotiabank as it attempts to further expand in the United States. Earlier this week, the Toronto-based bank announced
Roettele's move to Scotiabank comes as the warehouse lending segment sees ongoing market shifts amid the mortgage slowdown and
Prior to the sale, the latter had the country's largest warehouse lending business, while NYCB held the second-place spot.
Meanwhile, ongoing
With Roettele's departure, Chris Bono was tapped to lead the mortgage finance sector for global corporate banking at
Long established in Central America, Scotiabank, which hold $1.4 trillion in assets, has made no secret of its interests in expanding its network within its neighbor to the south. In its second-quarter earnings call, Scotiabank reported 55% annual growth in earnings from its U.S. business of $271 million. The amount contributed to total net income of $2.1 billion company wide.