TORONTO, Feb. 14,
2024 /CNW/ - Scotiabank announced today that
Jake Lawrence, Chief Executive
Officer and Group Head, Global Banking and Markets, has made the
decision to leave the Bank to join Power Corporation of
Canada. Mr. Lawrence joined
Scotiabank in 2002, and has held progressively senior roles in
Finance, Treasury and Global Banking and Markets, most recently
leading the Bank's wholesale banking and capital markets
business.
"I would like to thank Jake for his significant contributions
over his impressive 22-year career with Scotiabank and wish
him every success as he joins another storied Canadian institution.
Under Jake's leadership of the Global Banking and Markets business,
we have strengthened our brand and prioritized alignment in our key
markets, building out our presence in the U.S. and positioning this
business well for future growth," said Scott Thomson, President and Chief Executive
Officer for Scotiabank. "Among his many contributions, Jake has
built a talented team that is strongly positioned to deliver
against our strategy for sustainable and profitable growth across
our priority markets."
The Bank recently announced the appointment of Paul Scurfield to Global Head, Capital Markets,
Global Banking and Markets, and Michael
Kruse now takes on the role of Interim Global Head,
Corporate and Investment Banking, Global Banking and Markets. Mr.
Scurfield and Mr. Kruse will report directly to Scott Thomson, President and Chief Executive
Officer, effective immediately, as Mr. Lawrence moves into the role
of Strategic Advisor ahead of leaving the Bank on March 15, 2024.
Mr. Scurfield joined Scotiabank in 2019 with 20 years of capital
markets experience at Bank of America in the U.S. Most recently, he
led the Bank's Global Fixed Income, Commodities and Currencies
business. Since joining Scotiabank, Mr. Scurfield has been
instrumental in strengthening the Bank's fixed income origination
business, building the Sustainable Finance advisory team and
expanding the Bank's structured finance capabilities.
Mr. Kruse joined Scotiabank in 2018, leading the Bank's
Corporate and Investment Banking business in the U.S. and most
recently serving as Head of Global Banking and Markets U.S. Mr.
Kruse has deep corporate and investment banking experience and a
proven track record of success in driving business across regions.
Under his leadership, Scotiabank has grown its U.S. business
advisory capabilities for our clients and invested in talent across
the market.
"I am pleased to have Paul and Michael playing expanded
leadership roles as we focus on executing on our strategy and
priorities for our Global Banking and Markets business. These are
two seasoned senior leaders with deep expertise and experience
across large global financial institutions, and I am confident in
their ability to help us execute against our strategic priorities
and build on the foundation and team we have in place," said Mr.
Thomson.
About Scotiabank
Scotiabank's vision is to be our
clients' most trusted financial partner, to deliver sustainable,
profitable growth and maximize total shareholder return. Guided by
our purpose: "for every future," we help our clients, their
families and their communities achieve success 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 assets
of approximately $1.4 trillion (as at October 31,
2023), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS)
and New York Stock Exchange (NYSE: BNS). For more information,
please visit http://www.scotiabank.com and follow us on X
@Scotiabank.
SOURCE Scotiabank