Scotiabank taps former Morgan Stanley executive to lead its global banking and markets division [Globe and Mail, The (Toronto, Canada)]
Morgan Stanley (MS)
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Source: Globe and Mail, The
The move is the latest leadership changeover in the past year that has seen chief executive officer Scott Thomson acquire 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 bank Morgan Stanley, will lead a key business in Scotiabank's strategic turnaround plan as it seeks to grow across Canada, the U.S. and Mexico. “Travis is a forward-thinking leader with the vision and experience to lead our Global Banking and Markets business,” Mr. Thomson said in a statement. “Throughout his career in corporate, investment and commercial banking, Travis has earned a reputation for being a client-focused relationship banker.” Many of Canada's largest banks are focused on building their businesses in the fast-growing U.S. market. Last year, Toronto-Dominion Bank purchased New York-based investment bank Cowen Inc. Bank of Montreal scooped up California-based Bank of the West and
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