The Globe and Mail reports in its Thursday edition that Bank of Nova Scotia's head of global banking and markets Jake Lawrence is leaving the lender after more than two decades to join Power Corp. of Canada. The Globe's Stefanie Marotta writes that Mr. Lawrence, who in 2022 was considered a candidate for the top job at Scotiabank, is joining Power Corp. as chief financial officer. The departure is the latest in a leadership shakeup that has seen chief executive officer Scott Thomson hire from other financial institutions while promoting more junior executives through the ranks internally. In his tenure at the bank, Mr. Lawrence worked across finance, group treasury, global banking and markets, and the wholesale banking and capital markets businesses. Mr. Lawrence was recently tasked with overseeing Scotiabank's strategic rejig in its capital markets business, which focuses on bolstering its presence in the United States to attract clients with business ties abroad, particularly in Mexico and Canada. Scotiabank is targeting more than 7-per-cent earnings growth in the segment over the next five years. Scotiabank named Paul Scurfield to global head of capital markets in global banking and markets, effective immediately.