Bank of Nova Scotia has named new heads of global investment banking, following the previous leader’s departure.
Dany Beauchemin and Adam Sinclair are taking over as co-heads of global investment banking and Canadian corporate banking, following the departure of Charles Emond earlier this month. The bank made the announcement in an internal memo to staff on Friday.
Mr. Emond, a 20-year veteran of the bank, left Scotiabank to join the Caisse de dépôt et placement du Québec. There, he has taken on the role of executive vice-president in charge of the pension fund’s investment strategy in Quebec, and will also play a key role in co-ordinating the fund’s global footprint.
Mr. Emond had just been named head of global investment banking and Canadian corporate banking last November, amid a shuffle in the executive ranks at the bank’s capital markets arm. Before that he held a variety of increasingly senior roles and oversaw the investment bank’s expansion in Latin American.
Mr. Beauchemin and Mr. Sinclair previously reported to Mr. Emond and will now report to James Neate, who was recently promoted to co-head of the bank’s global banking and markets unit.
Mr. Beauchemin and Mr. Sinclair will be responsible for global investment banking across all industries, Canadian corporate banking, mergers and acquisitions and equity capital markets.
“They will focus specifically on refining our strategy and executing to grow our service offerings, market share and the profitability of our operations,” Mr. Neate said in the memo.
There has been a flurry of changes in the upper ranks of Scotiabank’s global banking and markets division in recent years, including the departure of the former heads of investment banking and mergers and acquisitions in 2017. Last November, the bank announced the retirement of group head Dieter Jentsch, naming Jake Lawrence and Mr. Neate as his successors.
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