Scotiabank to Launch the ScotiaMocatta eStore in Canada - a New Full-Service
Online Precious Metals Delivery Channel
"ScotiaMocatta's online precious metals eStore provides Canadians with an opportunity to explore the world of precious metals, while also completing purchases in the comfort and convenience of their homes," said
The ScotiaMocatta eStore is currently accepting orders from within
"The ScotiaMocatta eStore, an innovative and secure platform, will supplement our existing branch network in offering precious metals products to Canadians", said Barry Wainstein, Vice-Chairman and Deputy Head, Global Capital Markets, and Global Head, Foreign Exchange and Precious Metals. "This new delivery channel demonstrates our ongoing commitment to providing exceptional customer service and market-leading products in
All ScotiaMocatta eStore purchases from
ScotiaMocatta, the precious metals division of the Scotiabank Group, is a global leader in precious metals trading and finance, with roots dating back to 1671. It is the Chairman of the
Scotia Capital is the wholesale banking arm of the Scotiabank Group, offering a wide variety of products to corporate, government and institutional clients. It provides full-service coverage across the NAFTA region, and also serves selected niche markets globally through two divisions, Global Capital Markets and Global Corporate and Investment Banking. Scotia Capital has 28 offices and more than 300 relationship managers organized around industry specialties. For more information, please visit www.scotiacapital.com
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With close to 69,000 employees, Scotiabank Group and its affiliates serve approximately 12.8 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With more than
ScotiaMocatta Backgrounder Scotiabank's Gold Department
With more than a century of expertise in the precious metals field, Scotiabank was, in 1893, the first bank in
After the Second World War, interest in gold was revived and it began to regain its traditional attraction as a store of value. In 1958, Scotiabank introduced a unique gold certificate, designed to purchase and as a transferable receipt for gold held for safekeeping in the Bank's vaults. The Bank also became the first Canadian bank to provide daily quotations for gold. Scotiabank quickly became Canada's largest gold trader, in both certificates and bullion, and with its acquisition of the Mocatta Group on
The Mocatta Group
ScotiaMocatta has it beginnings over 300 years ago with Moses Mocatta opening an account with one of London's most famous goldsmith bankers, Alderman Edward Backwell, in 1671. Originally from
Throughout the eighteenth century, several individuals became partners in the Mocatta business including: silver-and-diamond dealer Alexander Isaks Keyser, in 1760; Asher Goldsmid, who was married to Mocatta's daughter, in 1779; Abraham de Mattos Mocatta's sons Moses and Jacob, in
By 1840, the Bank of England concluded its exclusive relationship with the firm, opening themselves up to several brokers. In 1864, with the retirement of F.D. Goldsmid and Abraham Mocatta, the 85-year alliance between the two families was broken. At this time, an individual who was not a Mocatta or Goldsmid,
In 1900, descendents of Mocatta and Goldsmid rejoined the partnership. By 1957, the business was acquired by the merchant bank, Hambros Bank and was renamed Mocatta and Goldsmid Limited, with Jock and Edgar Mocatta serving as managing directors. In 1969, Mocatta Metal Corporation was created in New York and through Hambros Bank, Mocatta and Goldsmid took a 50 per cent share. The company intended to trade silver, but dealt in all natural metals.
In
The Formation of ScotiaMocatta
On
Through the centuries, ScotiaMocatta has been at the forefront of world markets, with innovative new products and solutions that have become industry standards. ScotiaMocatta's evolution of expertise and innovation makes us one of the world's top precious metals dealers.
------------------------------------------------------------------------- 1671 Mocatta Established ------------------------------------------------------------------------- 1774 Handled 3/4 of world gold production ------------------------------------------------------------------------- 1897 Made Permanent Chair of the London Silver Fixing ------------------------------------------------------------------------- 1997 Scotiabank acquired Mocatta and forms ScotiaMocatta ------------------------------------------------------------------------- 2004 First non-British bank to chair the London Gold Fixing ------------------------------------------------------------------------- 2007 ScotiaMocatta named one of Canada's 71 Global Leaders by The Institute for Competitiveness and Prosperity. ------------------------------------------------------------------------- Recent Membership received into the Shanghai Gold Exchange -------------------------------------------------------------------------
In
/NOTE TO PHOTO EDITORS: A photo accompanying this release is available at http://photos.newswire.ca. Images are free to accredited members of the media/
For further information: Joe Konecny, Public Affairs at (416) 933-1795, or [email protected]
Share this article