The Globe and Mail reports in its Tuesday edition that Bank of Nova Scotia has hired U.S. banker Travis Machen to oversee its global banking and markets division, the latest in a series of external applicants to Scotia's most senior ranks. The Globe's Stefanie Marotta writes that the move is the latest leadership changeover in the past year in which chief executive officer Scott Thomson has acquired talent from other financial institutions while promoting more junior executives through the ranks internally. Mr. Machen, who is currently an executive at New York-based Morgan Stanley, will lead a key business in Scotiabank's strategic turnaround plan as it seeks to grow across Canada, the United States and Mexico. Many of Canada's largest banks are focused on building their businesses in the fast-growing U.S. market. In his most recent role in his 25-year career in banking, Mr. Machen served as the managing director and head of banks, diversified and financial infrastructure at Morgan Stanley. Previously, he was managing director and head of the financial institutions group in corporate and commercial banking at JPMorgan Chase, where he provided advisory services to global clients. Mr. Machen will remain in New York.