TORONTO, ON - November 04, 2013 /CNW/ - GCIC Ltd. announces that as a result of an internal consolidation, it has transferred its asset management business to one of its affiliates, 1832 Asset Management L.P. ("1832"). There is no impact to the firm's business operations, its portfolio management team or its approach to investment management.

About 1832
1832 Asset Management L.P. offers a range of wealth management solutions, including mutual funds, investment solutions for private clients, institutional clients and managed asset programs. 1832 Asset Management L.P. is a limited partnership, the general partner of which is wholly owned by Scotiabank.

About Scotiabank Global Wealth & Insurance  
Scotiabank Global Wealth & Insurance (GWI) provides comprehensive advice and wealth solutions to clients in Canada and internationally. GWI has more than $130 billion in assets under management (AUM) and more than $300 billion in assets under administration (AUA). GWI also has, through its licensed insurance affiliates, in excess of eight million insurance policies in 30 countries. GWI further provides comprehensive business banking solutions on a global basis to corporate, commercial, and small business clients.

About Scotiabank 
Scotiabank is a leading multinational financial services provider and Canada's most international bank. With more than 83,000 employees, Scotiabank and its affiliates serve some 21 million customers in more than 55 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. Scotiabank distributes the Bank's media releases using CNW. With assets of $743 billion (as at July 31, 2013), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

For further information please contact
Joe Konecny 
(416) 933-1795
joe.konecny@scotiabank.com