The Bank of Nova Scotia announced Monday that Brian Porter, its president and chief executive officer, is retiring next year.
He will be succeeded by Scott Thomson, who is currently the president and chief executive officer of Finning Interntional Inc., and a member of Scotia’s board of directors.
"I have always believed that banking is a calling and serving this enduring, 190-year-old institution as president and CEO has been the honour of my lifetime. … I have every confidence [Thomson] will lead the bank exceedingly well,” Porter said in the release. Thomson will initially move into Bank of Nova Scotia’s management ranks as president on Dec. 1. Shortly before Scotia’s announcement Monday, Finning announced Thomson’s pending exit, while naming Kevin Parkes, the Vancouver-based heavy equipment-dealer’s chief operating officer, as its next president and CEO.
Porter took the helm as Scotia’s president and chief executive on Nov. 1, 2013, after succeeding Rick Waugh, who led the bank through the global financial crisis.Under Porter’s leadership, Scotia made an aggressive push in 2018 to expand its wealth management line of business. In that calendar year, the bank first announced it was buying Jarislowsky Fraser for $950 million; it later acquired MD Financial Management for $2.59 billion in cash, the bulk of which was financed in a share issuance.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Scotiabank names Scott Thomson as next CEO, Brian Porter retiring in JanuaryThomson is a current board member of Bank of Nova Scotia and chief executive of equipment dealer Finning International
Read more »
Mayor Watson cleaning out his closet Oct. 4 to help Food BankThings are starting to look serious as Mayor Jim Watson prepares to step down after more than a dozen years at the helm of the city.
Read more »
Bank of Canada says inflation headed in right direction but still too highStatistics Canada says the inflation rate was 7.0% in August, marking the second consecutive month inflation has slowed. Read on
Read more »
Bank of Canada says inflation headed in right direction but still too highStatistics Canada says the inflation rate was 7.0% in August, marking the second consecutive month inflation has slowed. Read on
Read more »
Bank of Canada says inflation headed in right direction but still too highStatistics Canada says the inflation rate was 7.0% in August, marking the second consecutive month inflation has slowed. Read on
Read more »
Mayor Watson cleaning out his closet Oct. 4 to help Food BankThe outgoing Ottawa mayor will dispense with items received during a decade in office during the charity fundraiser on Oct. 4.
Read more »