Scotia Capital today is expanding its global equity finance group’s U.S. stock lending business through the addition of agent lending, the company said Tuesday.

The expansion complements Scotia Capital’s recent successful launch of principal lending platforms in the UK and Asia.

“The global equity finance group continues to explore opportunities to broaden our stock lending mandate and remain competitive in key geographies,” said Patrick Burke, managing director and head of institutional equities, Scotia Capital. “Increased client demand for counterparty diversification throughout the recent credit crisis and Scotia Capital’s strong reputation on the street, have brought significant growth potential for our participation in the U.S. market.”

Gary Rupert, managing director, who is a registered general principal with the National Association of Securities Dealers (NASD), will lead the team in the U.S.

Other members of the group include:

• Daniel Murphy, managing director;
• Armeet Sandhu, managing director;
• Keith Peckholdt, director; and
• Eugene Picone, director.

“The addition of agency services as part of our prime brokerage offering secures a strong foothold for Scotia Capital and our equities business,” says Patrick Burke. “This group has a successful track record of developing a solid agency franchise and we are confident these individuals will make a positive contribution to our team.”

IE