Guest Posted July 31, 2001 Report Share Posted July 31, 2001 Hi Guys, I'm a Canadian national that works (although calling it work is taking the piss) as a proprietary derivatives (futures & options) trader. I previously worked in Toronto, New York, Chicago (on the Merc floor), Frankfurt and then five years in the City of London before my current location in the sandbox. I work for an Arab government institution that invests all the money they have in the vault from selling oil for the last thirty years that wasn't spent on schools hospitals, F-16 fighter planes, battle tanks etc. Many years ago (more than I care to remember) I started my career in finance at the Bank of Nova Scotia, Bay Street, Toronto. Last year while on a cultural tour of Bangkok on a hot and humid evening I was staggering down Sukumvit toward Siam Square and with nothing but a ready wit and almost totally drained wallet in my Levi's I narrowly escaped the calls of the sirens of Soi 0 and made it onto Ploenchit Road. After a couple of blocks I came upon the surreal sight (remember this is Bangkok so that's saying something) of an actual, in the flesh branch of that bedrock of the Canadian financial system "The Bank of Nova Scotia". The question on my lips was "How the hell did a branch of ScotiaBank" end up in Bangkok?" Being an ex-Scotiabanker "Remember There Is Banking and Then There Is Scotiabanking" I am curious as can be if anyone on this board knows anyone at ScotiaBank Bangkok or has any dealings with them etc. I'm dying to find out who the hell ScotiaBank is finding to lend those hard earned deposits of Canadian widows and orphans to in the Land of Smiles. I can't believe it is financially practical to bail out of the sandbox to work in that financial powerhouse known as Thailand but I just gotta satisfy my curiosity. So if anyone one has any light to cast on this issue (even if it's a candle) please respond. Back you financial wiz kids, Sandman Link to comment Share on other sites More sharing options...
Guest Posted July 31, 2001 Report Share Posted July 31, 2001 I was quite surprised to see Scotia bank in BKK myself after searching for local CIBC telephone numbers (fat chance, by the way) Beats me! Would like to see some information too. Leroy Link to comment Share on other sites More sharing options...
elef Posted July 31, 2001 Report Share Posted July 31, 2001 Hi, actually Scotiabank is represented in over 50 countries. I LOS not only in BKK, but also in Sriracha. elef Link to comment Share on other sites More sharing options...
Guest Posted July 31, 2001 Report Share Posted July 31, 2001 I knew a guy who worked there. I think they were in BKK pureley to subsidize his drinking... They also had an office here in Bangladesh, but were bought out by a local Bangla bank,,,the shame of it Link to comment Share on other sites More sharing options...
Guest Posted July 31, 2001 Report Share Posted July 31, 2001 As a Cunuck who has spent more than 25 yrs in SE Asia let me assure you all that Scotia Bank (who has presently the best online system in the world) and other Canadian banks do exist in Thailand and elsewhere. Unfortunately they are strictly commercial, International Big Business Banks with no services for us regular accounts. Thai banking reg prohibit foreign banks from doing the day to day stuff. While this may have changed slightly over the past few months (doubt it !) unless you are an Int'l Corp ....LOL. (Would be pleased to learn this has changed!) Link to comment Share on other sites More sharing options...
Guest Posted August 1, 2001 Report Share Posted August 1, 2001 Thanks for the information guys, I would be very happy to hear from anyone else out there in NanaPlazaLand that has anything else to pass on about ScotiaBank or even any other international western financial institutions in Thailand. Rock n Roll, Sandman Link to comment Share on other sites More sharing options...
aussiedoug Posted August 6, 2001 Report Share Posted August 6, 2001 You will find many foreign banks have what is known as "representative offices" here.They do not do any actual banking, they are just observing the financial system and filing company reports so that when head office gets offered part of a syndicated loan it can make an informed decision. Has got to be one of the best jobs in the banking business. Link to comment Share on other sites More sharing options...
Guest Posted August 7, 2001 Report Share Posted August 7, 2001 The international banks here that have 'representative' status, provide information and advise for the major business clients and information for the networks. Link to comment Share on other sites More sharing options...
Guest Posted August 8, 2001 Report Share Posted August 8, 2001 Yo Finance Dudes, I personally don't see doing bureaucratic filing as "one of the best jobs in the banking business" but then again my attitude might be a different one on that day I finally burn out from screaming down squawk box lines. Maybe on that day the quiet comfortable life of shuffling around an office spending my working life clock watching might have some major appeal. This is especially true if lunchtime means a cold Singha in a BJ bar. Anyway, thanks for the information guys and if any other of you fountains of Thai knowledge has any further insights on the world of finance in the LOS it would be a great favour to moi if you post them on this thread. A legend in my own lunchtime, Sandman Link to comment Share on other sites More sharing options...
Spinning Dwarf Posted August 13, 2001 Report Share Posted August 13, 2001 Sandman, Knew an expat canuck that worked there. They were trying to buy into the full service banking business... probably a good thing for them that they lost out to Standard Chartered on the bid for Nakornthorn Bank. Do a search in the Bangkok Post archives if you want more info. Also knew the country rep for Royal Bank of Canada which closed shop here about two years ago. Cheers, SD Link to comment Share on other sites More sharing options...
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