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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  The Bank of Nova Scotia    BNS   CA0641491075

THE BANK OF NOVA SCOTIA

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Top Canadian lenders plan to fill 3.5% of senior roles with Black employees

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07/10/2020 | 09:12pm EDT
A Bank of Nova Scotia logo is seen outside of a branch in Ottawa

Bank of Nova Scotia and Canadian Imperial Bank of Commerce said they plan to fill at least 3.5% of their top roles with Black employees as part of an initiative that aims to fight racism and improve the representation of Black people in boardrooms.

The initiative, labeled "BlackNorth," was launched by Wes Hall, a prominent Canadian businessman and the chairman of proxy advisory firm Kingsdale Advisors. It urged executives to fill at least 3.5% of senior executive and board positions in Canada with Black leaders by 2025. (https://bwnews.pr/2Of8eE4)

Companies across the globe have announced donations to nonprofit organizations and pledged money for internal company programs for racial and social justice causes amid worldwide protests over the death of George Floyd, an African-American man who died under the knee of a white police officer in May.

Royal Bank of Canada, the country's biggest lender, said on Monday it was committing C$150 million ($111 million) to racial diversity initiatives and aims to increase the proportion of non-white executive hires to 30% from 20%.

Last month, Manulife Financial Corp and Scotiabank pledged C$3.5 million and C$500,000, respectively, for diversity initiatives.

(Reporting by Shanti S Nair in Bengaluru; Editing by Aditya Soni)

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF COMMERCE HOLDINGS 0.51% 7.96 Delayed Quote.-31.20%
CANADIAN IMPERIAL BANK OF COMMERCE 0.21% 97.17 Delayed Quote.-10.26%
MANULIFE FINANCIAL CORPORATION -0.65% 19.98 Delayed Quote.-22.65%
ROYAL BANK OF CANADA -0.19% 97.46 Delayed Quote.-5.15%
THE BANK OF NOVA SCOTIA -0.86% 57.68 Delayed Quote.-21.36%
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Financials
Sales 2020 31 794 M 23 981 M 23 981 M
Net income 2020 5 845 M 4 408 M 4 408 M
Net Debt 2020 - - -
P/E ratio 2020 11,2x
Yield 2020 6,19%
Capitalization 70 480 M 53 358 M 53 160 M
Capi. / Sales 2020 2,22x
Capi. / Sales 2021 2,23x
Nbr of Employees 97 369
Free-Float 100,0%
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Mean consensus HOLD
Number of Analysts 14
Average target price 61,77 CAD
Last Close Price 58,18 CAD
Spread / Highest target 20,3%
Spread / Average Target 6,17%
Spread / Lowest Target -24,4%
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Managers
NameTitle
Brian Johnston Porter President, CEO & Non-Independent Director
Aaron William Regent Chairman
Loretta Marcoccia Chief Operating Officer, EVP-Global Banking
Rajagopal Viswanathan Chief Financial Officer & Executive Vice President
Michael Zerbs Chief Technology Officer & Group Head
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