People walk past a Scotiabank branch in Toronto on April 10, 2018. The top ranks of Scotiabank will have another new face as it has named Francisco Aristeguieta to lead the bank's international division. THE CANADIAN PRESS/Chris Young
TORONTO – The top ranks of Scotiabank will have another new face as it has named Francisco Aristeguieta to lead the bank’s international division.
The appointment of Aristeguieta comes less than three months after Scott Thomson stepped into the role of chief executive after being chosen from outside the bank’s executive team.
Since taking the helm, Thomson has repeatedly talked about the need to improve the bank’s performance as it undergoes a strategic review, while at Scotiabank’s shareholder meeting last week he spoke of how its international operations are a key differentiator.
Aristeguieta was previously head of Institutional Services at financial services company State Street and led the Pacific and Latin America regions for Citigroup.
He will replace Ignacio “Nacho” Deschamps, who is leaving the bank at the end of April after some seven years as group head of international banking.
Thomson says in a statement that Aristeguieta is a “seasoned transformational leader” who will play a central role while the bank goes through a refresh. Thomson thanked Deschamps for his leadership including through the digitization and reshaping of international operations.
This report by The Canadian Press was first published April 10, 2023.
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