CEO Scott Thomson delivered a strategic update Wednesday in which he revealed the bank will prioritize Canada, the United States and Mexico and possibly exit some foreign markets where growth plans haven’t lived up to expectations. (The Canadian Press)

Talking point: Thomson delivered the remarks at his first investor day since taking the top job last February. His strategy involves improving productivity and focusing on winning a larger share of customers’ wallets over increasing the number of clients. The bank has established a transformation office to put these new priorities into practice. Pulling back on international markets continues a long-term trend at Scotiabank, which has exited 25 regions over the past decade. In October, Scotiabank announced it would cut three per cent of its global workforce. Its peers have cut jobs as well and recently posted a poor slate of quarterly earnings as they put money aside to cover potential bad loans as interest rates squeeze consumers and businesses.