The Globe and Mail reports in its Saturday edition that Bank of Nova Scotia is reworking the top ranks of its capital-markets division, while also shuffling senior executives within its Canadian banking unit. The Globe's Alexandra Posadzki and Tim Kiladze write that Dieter Jentsch, the head of Scotiabank's global banking and markets unit, is retiring.
In his place, Jake Lawrence and James Neate will become co-heads of global banking and markets. The change follows a number of high-profile staff moves within Scotiabank's global banking and markets arm in 2017, including the departure of its global head of investment banking and the exit of Scotiabank's mergers and acquisitions head.
Mr. Jentsch was also one of the few remaining executives from the bank's previous leadership before chief executive over Brian Porter took over five years ago. Of the bank's 10 highest-ranking leaders at the time, Mr. Porter is the only one left.
Within global banking and markets, Mr. Lawrence will assume responsibility for global capital markets, with a mandate to expand the division's market share and profitability. Scotiabank's capital-markets division ranks No. 6 in Canada, behind independent dealer Canaccord Genuity.
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