Bank of Nova Scotia is changing the name of its securities and investment banking unit, a name it has used for 12 years now. Although the new name has not been revealed yet, the general expectation is that it will start with Scotiabank, the common link in the bank’s new branding strategy. This move is intended to reinforce the fact that the division is not a separate entity, but a part of the bank’s overall business.

The rebranding of Scotia Capital is just a small part of the bigger change that lies ahead. Bank of Nova Scotia is planning to get rid of approximately half of its 60 brands around the world in an effort to present a more consistent face to clients.

Stressing the bank connection is not only a message to clients, but also to employees, emphasizing the integral role their business plays in the parent bank’s overarching brand. As a result, this new branding strategy allows for the clear identification of the bank among clients and employees alike. Given its large number of different brands, a result of years of growing by acquisition internationally, this plan to narrow them down seems rather inevitable.