(Toronto) Scotiabank announced on Monday the appointment of Francisco Aristeguieta as head of the international operations group.
The appointment comes less than three months after Scott Thomson became Scotia’s chief executive when he was not a member of its management team.
Since taking over as head of the bank, Mr. Thomson has often spoken of the need to improve Scotia’s performance as it undergoes strategic review. During the annual meeting of its shareholders, Mr. Thomson recalled how the international operations of the bank were a key element that distinguished it from its peers.
Mr. Aristeguieta was previously responsible for the strategic repositioning of global asset servicing for State Street, a financial institution with operations in the United States, Europe, Asia, the Middle East and Latin America. He was also responsible for Latin America and the Asia-Pacific region for Citigroup.
He will replace Ignacio “Nacho” Deschamps, who will leave the bank at the end of April after serving for about seven years as head of international banking operations.
In a statement, Mr Thomson said Mr Aristeguieta was an “experienced leader who gets things done” who would play a central role at the bank. Mr. Thomson further thanked Mr. Deschamps for reshaping its international business and overseeing the digital transformation of the entire bank.