Barb Mason, executive vp of wealth management bank, today announced three senior appointments with a mandate to accelerate growth in the bank’s asset management business.

Joining Scotiabank’s wealth management unit are John Varao as president, CEO and CIO of Scotia Cassels, Shane Jones as managing director of Canadian equities and senior portfolio manager, Scotia Cassels, and John Kellett as senior advisor to mutual fund business development.

“Wealth management is a key area of growth for Scotiabank and the proven expertise of these three individuals will contribute immensely toward achieving the strategic objective of expanding our asset management business,” said Mason, in a news release.

Varao joins Scotiabank with 16 years of experience in asset management and is regarded as one of the leading mutual fund managers in the country.

“On behalf of Shane, John and myself, we are looking forward to joining a great organization with a solid core team of investment professionals, a proven track record of strong performance, a substantial asset base and tremendous potential for growth,” said Varao. “Working with our new partners within wealth management and retail operations, I am excited to lead the expansion of Scotia’s asset management business for the benefit of both the organization and its clients.”

Jones comes to Scotiabank with 20 years of experience in the investment business and a record of strong performance while managing some of the biggest income and dividend funds in Canada.

Kellett has 37 years of experience in the investment business and in 2003 was named Mutual Fund Manager of the Year by Investment Executive. His experience and track-record of managing money has gained him significant credibility among his peers throughout the investment industry. Kellett will focus on delivering educational, sales and marketing support to frontline teams in all distribution channels.

“My main focus will be to support financial advisors directly at the branch level in helping clients achieve their investment objectives,” said Kellett.

Scotia Cassels Investment Counsel manages a combined $25 billion within mutual funds, private client portfolios and institutional client portfolios. The company is a wholly owned subsidiary of the Scotiabank Group.

http://www.newswire.ca/en/releases/archive/April2007/12/c4532.html