stats
globeinteractive.com: Making the Business of Life Easier

   Finance globeinvestor   Careers globecareers.workopolis Subscribe to The Globe
The Globe and Mail /globeandmail.com
Home | Business | National | Int'l | Sports | Columnists | The Arts | Tech | Travel | TV | Wheels
space


Search

space
  This site         Tips

  
space
  The Web Google
space
   space



space

  Where to Find It


Breaking News
  Home Page

  Report on Business

  Sports

  Technology

space
Subscribe to The Globe

Shop at our Globe Store


Print Edition
  Front Page

  Report on Business

  National

  International

  Sports

  Arts & Entertainment

  Editorials

  Columnists

   Headline Index

 Other Sections
  Appointments

  Births & Deaths

  Books

  Classifieds

  Comment

  Education

  Environment

  Facts & Arguments

  Focus

  Health

  Obituaries

  Real Estate

  Review

  Science

  Style

  Technology

  Travel

  Wheels

 Leisure
  Cartoon

  Crosswords

  Food & Dining

  Golf

  Horoscopes

  Movies

  Online Personals

  TV Listings/News

 Specials & Series
  All Reports...

space

Services
   Where to Find It
 A quick guide to what's available on the site

 Newspaper
  Advertise

  Corrections

  Customer Service

  Help & Contact Us

  Reprints

  Subscriptions

 Web Site
  Advertise

  E-Mail Newsletters

  Free Headlines

  Globe Store New

  Help & Contact Us

  Make Us Home

  Mobile New

  Press Room

  Privacy Policy

  Terms & Conditions


GiveLife.ca

    

PRINT EDITION
Scotiabank names new heads of global banking in latest staff shuffle
space
space
By ALEXANDRA POSADZKI, TIM KILADZE
  
  

Email this article Print this article
Saturday, December 1, 2018 – Page B2

Bank of Nova Scotia is reworking the top ranks of its capital-markets team, while also shuffling senior executives within its Canadian banking division.

Dieter Jentsch, the head of Scotiabank's global banking and markets unit, has announced his retirement after 35 years at the bank.

He took over as head of the division in 2016; before that, Mr. Jentsch ran international banking.

In his place, Jake Lawrence and James Neate will become co-heads of global banking and markets. Mr. Jentsch will stay on until the end of January to help with the transition.

The change follows a number of high-profile staff moves within Scotiabank's global banking and markets arm in 2017, including the departure of its global head of investment banking and the exit of Scotiabank's mergers and acquisitions head.

Mr. Jentsch was also one of the few remaining executives from the bank's previous leadership team before chief executive Brian Porter took over five years ago. Of the bank's 10 highest-ranking leaders at the time, Mr. Porter is the only one left.

Within global banking and markets, Mr. Lawrence will assume responsibility for global capital markets, with a mandate to expand the division's market share and profitability, according to an internal Scotiabank memo obtained by The Globe and Mail. Scotiabank's capital-markets division has been lagging in the rankings this year, coming in sixth place - behind independent dealer Canaccord Genuity - for Canadian equity sales for fiscal 2018, according to data compiled by Thomson Reuters Corp.

Mr. Neate will run global corporate and investment banking, and will focus on creating a unified growth strategy for the two divisions, according to the memo.

"We have seen some weaker results [within global banking and markets] due to challenging market conditions as well as some repositioning of our businesses," Mr. Porter, the CEO, said on a conference call this week after Scotiabank reported its fiscal 2018 earnings. "We are building out our investment and corporate banking presence here in Canada and internationally. And we expect improved market conditions for our capital markets and trading businesses." Bob Finlay, head of corporate banking for Canada and the United States and head of global mining syndication, is also leaving, according to the internal memo.

Mr. Finlay joined Scotiabank in 1980 and worked in internal audit and corporate credit before joining the corporate banking group.

A flurry of other staff changes were announced on Friday, including the departure of Brenda Rideout, president and chief executive of Tangerine Bank, Scotiabank's digital banking arm. She was named CEO less than two years ago, in March, 2017.

Gillian Riley will take the helm at Tangerine. Most recently, Ms. Riley served as executive vice-president of Canadian commercial banking, a title that will go to Kevin Teslyk.

Laurie Stang, executive vice-president of Canadian branch banking, is also retiring after 33 years, and John Doig, who was previously chief marketing officer, has been appointed to executive vice-president of retail distribution.

Other notable appointments on the capital markets side include Charles Emond, who takes over as global head of investment banking and corporate banking for Canada, and Loretta Marcoccia, who becomes chief operating officer of global banking and markets.

Edward Jones analyst Jim Shanahan said the moves are not surprising given all the strategic changes at the bank.

Scotiabank has a big job ahead of it in terms of integrating recent acquisitions, and has also signalled it plans to reduce its exposure to the Caribbean and target wealth management for future growth, Mr. Shanahan said.

"It seems like it's probably a good time to make some changes and get the management team in place that will help to integrate and prepare the company for the next stage of growth," he said.

SCOTIABANK (BNS) CLOSE: $72.30, DOWN 50¢


Huh? How did I get here?
Return to Main Margaret_Wente Page
Subscribe to
The Globe and Mail
 

Email this article Print this article

space  Advertisement
space

Need CPR for your RSP? Check your portfolio’s pulse and lower yours by improving the overall health of your investments. Click here.

Advertisement

7-Day Site Search
    

Breaking News



Today's Weather


Inside

Rick Salutin
Merrily marching
off to war
Roy MacGregor
Duct tape might hold
when panic strikes


Editorial
Where Manley is going with his first budget




space

Columnists



For a columnist's most recent stories, click on their name below.

 National


Roy MacGregor arrow
This Country
space
Jeffrey Simpson arrow
The Nation
space
Margaret Wente arrow
Counterpoint
space
Hugh Winsor  arrow
The Power Game
space
 Business


Rob Carrick arrow
Personal Finance
space
Drew Fagan arrow
The Big Picture
space
Mathew Ingram arrow
space
Brent Jang arrow
Business West
space
Brian Milner arrow
Taking Stock
space
Eric Reguly arrow
To The Point
space
Andrew Willis arrow
Streetwise
space
 Sports


Stephen Brunt arrow
The Game
space
Eric Duhatschek arrow
space
Allan Maki arrow
space
William Houston arrow
Truth & Rumours
space
Lorne Rubenstein arrow
Golf
space
 The Arts


John Doyle arrow
Television
space
John MacLachlan Gray arrow
Gray's Anatomy
space
David Macfarlane arrow
Cheap Seats
space
Johanna Schneller arrow
Moviegoer
space
 Comment


Murray Campbell arrow
Ontario Politics
space
Lysiane Gagnon arrow
Inside Quebec
space
Marcus Gee arrow
The World
space
William Johnson arrow
Pit Bill
space
Paul Knox arrow
Worldbeat
space
Heather Mallick arrow
As If
space
Leah McLaren arrow
Generation Why
space
Rex Murphy arrow
Japes of Wrath
space
Rick Salutin arrow
On The Other Hand
space
Paul Sullivan arrow
The West
space
William Thorsell arrow
space





Home | Business | National | Int'l | Sports | Columnists | The Arts | Tech | Travel | TV | Wheels
space

© 2003 Bell Globemedia Interactive Inc. All Rights Reserved.
Help & Contact Us | Back to the top of this page