The Bank of Nova Scotia is readying to enter Canada’s new economic environment with a positioning that’s expected to make the most of the fact that Scotiabank is not among the big banks in the midst of merger mania.

Rick White, vice-president of advertising for Scotiabank, says the bank has a huge strategic challenge ahead.

‘The biggest challenge faced by all banks right now is how do we brand ourselves and differentiate ourselves? The consumer sees all banks as the same, and views them all with some cynicism since the proposed mergers [between Royal Bank and Bank of Montreal, and the Toronto-Dominion Bank and cibc] were announced,’ says White.

‘Consumers are feeling disassociated from the merger process, and now there’s an opportunity to position Scotiabank as being a lot more meaningful to them. Relevance is the key to this debate.’

The differentiation message will come courtesy of Scotiabank’s brand new advertising agency – BBDO Canada.

The appointment is effective immediately, with bbdo and its McKim Media Group taking over the bank’s business from incumbent Cossette Communication-Marketing, which declined to participate in the process.

Also in the running for the $12 million account were Bensimon Byrne DMB&B and Goodgoll Curtis, both of Toronto.

The direct response portion of the account was not part of the review and is retained by Rapp Collins Communicaide of Mississauga, Ont.