- Brian Porter, President & CEO has decided to retire, effective January 31, 2023
- Scott Thomson has been appointed as CEO of Scotiabank, effective February 1, 2023
- Mr. Porter will become an advisor to Mr. Thomson from February 1, 2023, to April 30, 2023.
- Scotiabank is a global financial services provider
- Scotiabank (BNS) is down 2.67 per cent, trading at C$67.38 per share at 11:30 am ET
Scotiabank (BNS) has announced Brian Porter’s decision to retire as President and Chief Executive Officer, effective January 31, 2023.
Concurrent with this announcement, Scotiabank has appointed Scott Thomson as CEO of Scotiabank, effective February 1, 2023. Mr. Thomson is currently President and CEO of Finning International Inc. and has been a member of the Scotiabank Board since 2016.
To support the transition, Mr. Porter will become a Strategic Advisor to Mr. Thomson from February 1, 2023, to April 30, 2023.
Brian Porter commented on the news.
“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 leave the Bank with the same sense of optimism that marked the start of my time in this role. I am confident that Scott Thomson will guide the Bank through the next phase of its growth and development. He is a results-driven and proven leader who executes with purpose and shares values that are aligned with those of the Bank. I have every confidence he will lead the Bank exceedingly well.”
Scott Thomson added,
“Scotiabank has delivered strong performance and steady growth thanks to Brian’s long-term vision and strategic investments in people, processes, technology and products. His contributions will continue to benefit the Bank for many years to come. I am incredibly honoured and energized to be joining and leading the Bank’s world-class leadership team. During my six years on Scotiabank’s Board, I have had the opportunity to see first-hand the incredible potential of this organization and the dedication and skill of its people. I share their commitment to building an inclusive and sustainable future for all the Bank’s stakeholders at a time when our customers, shareholders and communities around the world need us most.”
Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other.
Scotiabank (BNS) is down 2.67 per cent, trading at C$67.38 per share at 11:30 am ET.