Canadian Banking unit continues to focus
on
Personal, Commercial Banking and Insurance businesses
in Canada
TORONTO, May 7, 2019 /CNW/ - Scotiabank today
confirms plans to create a Global Wealth Management business line,
effective November 1st,
2019. The new business line, Global Wealth Management, reflects our
commitment to accelerating our wealth management strategy,
following the recent acquisitions of MD Financial Management and
Jarislowsky Fraser, and the Bank's focus on achieving scale across
Canada and our key international
markets. Canadian Banking will remain focused on growing Personal,
Commercial Banking and Insurance businesses in Canada, delivering for our customers and
driving our digital agenda.
In preparation for the fourth business line, and the changes to
the Canadian Banking business unit, James
O'Sullivan, Group Head of Canadian Banking has decided to
take this opportunity to transition to a strategic advisor role for
the Bank, effective June
1st. James will remain with the Bank advising on
key banking and policy matters.
"On behalf of the Board and Management, I would like to
personally thank James for his continued and unwavering commitment
to Scotiabank and his drive to build value for our customers,
employees and shareholders," said Brian
Porter, President and CEO, Scotiabank.
Canadian Banking
Dan
Rees will be appointed Group Head, Canadian Banking,
effective June 1st, where
he will be responsible for Personal, Commercial Banking and
Insurance businesses in Canada.
Dan brings deep banking and leadership experience to Canadian
Banking, having held a number of increasingly senior roles in
Wealth Management, Global Banking and Markets, Global Risk
Management, Human Resources and International Banking since joining
the Bank in 2000.
"Dan has a proven track record for driving results across the
Bank, most recently in his role as Group Head of Operations, where
his work has helped the Bank unlock value by better leveraging our
global scale," said Brian Porter,
CEO and President of Scotiabank. "His passion for improving the
customer and employee experience will be instrumental in ensuring
the continued success of the Canadian Bank."
Global Wealth Management
The Global Wealth Management
business line will be led by Glen
Gowland, Executive Vice-President, Global Wealth Management,
where he will continue to grow the Bank's wealth management
businesses across our geographical footprint. Glen has over 25
years of experience in investment management and banking and joined
Scotiabank in 2000. Glen is a recognised industry leader and during
his career, he has led and contributed to the development of every
aspect of Scotiabank's wealth management business.
"Glen has been delivering exceptionally well for Scotiabank and
our wealth and banking clients for almost 20 years," said
Brian Porter, CEO and President of
Scotiabank. "Under Glen's leadership we have accelerated our wealth
strategy and positioned our business for the next phase of
growth."
About Scotiabank
Scotiabank is Canada's international bank and a leading
financial services provider in the Americas. We are dedicated to
helping our more than 25 million customers become better off
through a broad range of advice, products and services, including
personal and commercial banking, wealth management and private
banking, corporate and investment banking, and capital markets.
With a team of more than 98,000 employees and assets of over
$1 trillion (as at January 31, 2019), Scotiabank trades on the
Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange
(NYSE: BNS). For more information, please visit
www.scotiabank.com and follow us on Twitter
@ScotiabankViews.
SOURCE Scotiabank